Multi-Tenant - Retail & Office Investment | 3201 Cleveland Ave
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Multi-Tenant - Retail & Office Investment 3201 Cleveland Ave
46,000 SF 100% Leased Retail Building Santa Rosa, CA 95403 $9,780,543 CAD ($213 CAD/SF)
Investment Highlights
- Pride of Ownership Property & Well Maintained
- Secure Cash Flow
- Appealing Tenant Improvements
- Value Add Opportunity - Potential to Lease Vacancies & Shell Spaces & Increase Income
- Diverse & Strong Tenant Mix
- Premier Bath & Kitchen (PBK), a Division of PACE Supply, Anchors the Largest NNN Lease, Demonstrating Substantial Investment in Tenant Improvements
Executive Summary
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.
• 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 due 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
• 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 due 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
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$969,160
|
$21.07
|
| Other Income |
$168,679
|
$3.67
|
| Vacancy Loss |
$48,458
|
$1.05
|
| Effective Gross Income |
$1,089,381
|
$23.68
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$335,940
|
$7.30
|
| Net Operating Income |
$753,441
|
$16.38
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $969,160 |
| Annual Per SF | $21.07 |
| Other Income (CAD) | |
|---|---|
| Annual | $168,679 |
| Annual Per SF | $3.67 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $48,458 |
| Annual Per SF | $1.05 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,089,381 |
| Annual Per SF | $23.68 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $335,940 |
| Annual Per SF | $7.30 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $753,441 |
| Annual Per SF | $16.38 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
46,000 SF
Building Class
B
Year Built/Renovated
1967/1990
Price
$9,780,543 CAD
Price Per SF
$213 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.64
Lot Size
1.66 AC
Zoning
CITYSR - General Commercial: Zoning: CG – Ideal use would be BULK RETAIL - General Commercial allowing - Health/ fitness, Music/ Dance Studio, Artisan Shop,
Parking
70 Spaces (1.52 Spaces per 1,000 SF Leased)
Frontage
259 ft on Piner Rd
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $5,008,929 CAD (2023) | |
| Land Assessment | $1,385,662 CAD (2023) | Total Assessment | $6,394,591 CAD (2023) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,385,662 CAD (2023)
Improvements Assessment
$5,008,929 CAD (2023)
Total Assessment
$6,394,591 CAD (2023)
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Multi-Tenant - Retail & Office Investment | 3201 Cleveland Ave
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