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Multi-Tenant Retail & Office Investment (santa rosa)
3201 Cleveland Avenue, Santa Rosa, CA 95403
3201 Cleveland Avenue near Piner Road
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- Prominent Two-Story Commercial Retail/Office Building with direct visibility from Highway 101
- Building size is approximately 46,000+/- rentable square feet (44,580+/- sf per County records)
- Parcel Size is 72,309+/- square feet/1.66+/- acres
- Built in 1967+/- & 1979 (County records) – Expanded and remodeled buildings in the 1990’s and in 2019 dye to the fires, which affected a portion of the building
- Recent capital improvements include – roof TPO overlay (2018 & 2019), painted exterior of building (2023), exterior ADA upgrades, elevator upgrades, and 1st floor remodel in PBK (2020-2021), and 2nd floor office remodel and décor (2020-2021). The building has fire sprinklers throughout
- Concrete block construction with floor to ceiling storefront windows on both the first and second floors. Steel framing at the front portion of the building
- Approximately 67% of the building is leased to approximately 15 Tenants
- The retail leases on the first floor are a mix of NNN and modified gross and the office leases on the second floor are modified full service
- Located on one of the main corridors in Santa Rosa
Sale Price: $5,750,000
Price PSF: $125.00+/-
Existing Cap Rate: 5.16%
Projected Cap Rate: 7.73%
Property Description:
This recently renovated, state-of-the-art commercial property offers a unique blend of highly visible retail spaces and professional office suites. The first-floor houses three esteemed long term anchor tenants while the second-floor (elevator and stairway access) is made up primarily of recently updated small office suites, common kitchen, restrooms, conference rooms and lobby. Additional opportunity for value-add for the unfinished second-floor retail/office/flex spaces.
Contact:
Keegan & Coppin Company, Inc.
(707) 528-1400
Rhonda Deringer, Partner & Sara Wann, Partner
Lic. #01206401 & Lic. #01437146
email: RDeringer @ KeeganCoppin.com & SWann @ KeeganCoppin.com