oefle buld iese - loopnet...1355 n dutton ave., santa rosa, ca 95401 (707) 528-1400 fax: (707)...

Fully Leased - 6.20% CAP

Office/Flex Building Investment150 Professional Center Drive | Rohnert Park | CA

Kevin Doran, Partner1355 N Dutton Ave., Santa Rosa, CA 95401

(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

EXECUTIVE SUMMARY

Keegan & Coppin is pleased to present the opportunity to acquire a premiere industrial/office/flex project in Rohnert Park, Sonoma County. This 22,000± gross square foot multi-tenant office/flex investment opportunity is strategically located in the Central Rohnert Park corridor. The property is 100% leased to multiple professional businesses. This property currently has six (6) tenants occupying 22,000± rentable square feet. The building is comprised of office/warehouse space with suites ranging in sizes from 2,000± rsf - 6,500± rsf. The building was built in 1986 and is professionally maintained and in excellent condition. This 1.5± acre (65,340± sf) lot is zoned Industrial/Office overlay. Overall the building, parking lot and landscaping is very well kept and professionally managed.



KEY FACTS

Vicinity Map

Location: Rohnert Park, CA - Sonoma County

Building Square Feet: 22,000± sf - Single-Story Bldg.

Site Size: 1.5± Acres

Current Occupancy: 100% (Multi-Tenant - Thirteen units ranging from 2,000-6,500± sf)

Lease Expiration: Various

Asking Price: $3,243,069

Price per Sq. Ft.: $147

Cap Rate: 6.2%

Zoning: I-L/O - Industrial/Office Overlay

Fountain: Concrete

Exterior Walls: Concrete

Roofing: Mineral Cap Sheet

Fire/Life/Safety Specs: Fire Sprinklers with Monitoring System

Telephone/ISP Service Sonic, AT&T

HVAC System: 12 Units - Dual Packed HVAC Mounted on Roof

Year of Construction: 1986

Parcel Map: 143-021-061



(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


150 ProfessionalCenter Drive

170 ProfessionalCenter Drive



(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


Front of Building - Facing South Front of Building - Facing North

BUILDING TENANT AREA SF

RENT PSF

MONTHLY RENT

TYPE OF LEASE

RENT INCREASES

LEASE TERM

EXTENSION OPTIONS

UTILITIES PAID BY LANDLORD

UTILITIES PAID BY TENANT

150 Allstate Insurance

1,500 $1.59 $2,385 Full Service CPI, 3% cap 5 years 5 years Water/Garbage, PG&E

None

150 Pathways Charter School

8,509 $1.08 $9,214 Gross 3% 5 years 5 years Water /Garbage PG&E, CAM for water & garbage

150 Sonoma State 3,003 $1.30 $3,903 Full Service Flat 3 years 3 years Water/Garbage, PG&E

None

150 Flower Company 6,500 $1.07 $6,930 Gross 3% 5 years 5 years Water/Garbage PG&E, CAM for water & garbage

150 Tony Young Sheet Metal

1,170 $1.37 $1,600 Gross 3% Mo. To Mo.

N/A Water/Garbage PG&E

20,682 $24,032

RENT ROLL



PROPERTY INFORMATION ANNUAL OPERATING DATA Proforma

Type $302,011Number of Units

+$4,817

Total Square Footage

-$9,060

Price Annual Adjusted Income $297,768

Price/psf - Less Expenses $103,105

Location Annual NOI $194,663

Zoning - Less Annual Debt Service $154,077

Site

6.32% 5.27%

LOAN ASSUMPTIONS ANNUAL EXPENSESDown Payment $770,000 Real Estate Taxes $38,444

Water/Sewer $6,495Loan Amount $2,310,000 PG&E $14,396

Builidng Expenses $43,770Interest Rate 4.50% Total Expenses $103,105

Amortization (Yrs) 25

Annual Debt Service $154,077

Annual Cash Flow

CAP Rate

Cash on Cash %

1.5 acres

Scheduled Gross Income Office/Industrial Flex

6

22,000

$3,080,000

$40,586

Office

PlusReimbursements

Less Vacancy & Credit Allowance

150 Professional Center Drive

$140





(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


150 FLOOR PLAN

Unit A1 2,488± sf Northern Drywall Corporation Unit A4 3,003± sf Sonoma StateUnit A2 1,500± sf Allstate Insurance

Unit A5 8,509± sf Charter SchoolUnit A3 6,500± sf Wholesale Florist



(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


Lot Line Adjustment Map

1. 2 Separate APNs will be completed

2. There is a reciprocal parking agreement



(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


Back of Building - Facing South Incubator Unit

Back of Building - Facing North End-Cap Office Unit



(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]




(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


LOCATION 150 Professional Center Drive is located in Rohnert Park, California, one of the largest economic hubs of Sonoma County, California. This strategic location, just off the intersection of Rohnert Park Expressway and Highway 101, is approximately 1 hour north of the Golden Gate Bridge and offers convenient access to San Francisco, the East Bay, and other points within the Bay Area. The City of Rohnert Park is located in the Santa Rosa valley roughly 50 miles north of San Francisco along Highway 101 in the southern part of Sonoma County. ROHNERT PARKWith the anticipated commuter rail that will have stops in Rohnert Park, coupled with efforts to develop a central district that includes the vacated State Farm complex, the incentives for businesses moving into the area are becoming increasingly desirable.The opening of Graton Casino in Rohnert Park has brought great new excitement to the area. Graton Resort & Casino has a commanding presence amongst rolling hills of Northern California’s wine country. Owned and operated by the Federated Indians of Graton Rancheria, Graton Resort & Casino is the complete entertainment experience, featuring table games, the latest slot machines, upscale and casual dining, plus entertainment options for visitors and locals alike.The subject property is located 1.7 miles from Graton Resort & Casino that recently opened its doors on November 5, 2013. The $800 million 340,000-square foot casino is the most expensive private development project in Sonoma County history and is one of the largest casinos in the state of California.

Sonoma State University (SSU) is located east of the subject property with direct access from Rohnert Park Expressway. The university is comprised of six schools and offers degrees in 46 majors and 47 minors at the bachelor’s level and 15 at the master’s level. Sonoma State is a mid-size campus with 9,120 students and located on 269± acres. With 34% of the student body living on campus, SSU is one of the most residential campuses within the California State University system. The site boasts strong demographics with over 59,125 residents within a three-mile radius with an average household income of $71,355. The population has increased by 1.66% since 2000 and is estimated to increase by 3.65% over the next five years.With the array of options and positive outlook for the future, Rohnert Park is an excellent location to consider.SONOMA COUNTYSonoma County is the premier location for R&D, professional services and entrepreneurial businesses. Today, the County is a magnet for all local industries, including government, winemaking, healthcare, engineering, biotechnology, financial services, education, tourism, state, county and local government offices. With easily accessible, high-quality office buildings at attractive rental rates, Rohnert Park is positioned to attract value-conscious tenants who are increasingly seeking high-value occupancy alternatives in the expensive Bay Area real estate market. This demand will help tighten the Sonoma County office market.



(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


Disclaimer

This property is being offered on an as-is basis. While the Broker believes the information in this brochure to be accurate, no warranty or representation is made as to its accuracy or completeness. Interested parties should conduct independent investigations and reach conclusions without reliance on materials contained in this brochure.

This property owner requests that you do not disturb the Tenants, as the property will only be shown in coordination with the Listing Agent.

This brochure is presented under the terms and conditions of the Confidentiality Agreement. As such, the material contained in this brochure is confidential and is provided solely for the purpose of considering the purchase of the property described herein. Offers should be presented to the agent for the property owner, Kevin Doran of Keegan & Coppin Company, Inc. Prospective buyers are encouraged to provide buyer’s background, source of funds and any other information that would indicate their ability to complete the transaction smoothly.

Contact Information

Kevin Doran Partner

BRE #01704987(707) 528-1400 ext. 270

Email: [email protected]



(707) 528-1400 ● Fax: (707) 524-1410Lic #: 01704987

[email protected]


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