1304 Southpoint Blvd | Petaluma, CA 94954
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1304 Southpoint Blvd
Petaluma, CA 94954
Office Property For Sale
Investment Highlights
- 6 per 1,000 parking ratio.
- Underground secured and covered parking.
- Close proximity to many dining amenities at Deer Creek Village Shopping Center.
- Elevator served.
- New exterior paint and office improvements.
Executive Summary
Corner location just off North McDowell Boulevard offers easy access off Highway 101. Property is well situated in the Petaluma Business District within walking distance to Deer Creek Village, a new premier mixed-use center. Petaluma has enjoyed a sustained period of strong economic growth, downtown Petaluma has become one of the most vibrant places in the Bay Area. This has created
a strong business climate as well as creating excitement for companies wanting to move to Petaluma. Vacancy rates for both Industrial and Office properties have been dropping for years to historic lows. Petaluma also boasts a strong barrier to entry with limited amounts of land and high impact fees. 1304 Southpoint is an opportunity to acquire an asset far below replacement cost.
1304 Southpoint is an opportunity for an investor or partial owner/user to buy a high-quality office building in a strong up and coming market with a high barrier to entry. The property sits on 3 acres and provides a strong 6 per 1,000 parking ratio which makes it attractive to a wide range of uses from General Office, to Medical Uses and Call Centers. New Improvements to the lobby and several
of the suites should limit any large Capital Expenditures to a new Owner.
a strong business climate as well as creating excitement for companies wanting to move to Petaluma. Vacancy rates for both Industrial and Office properties have been dropping for years to historic lows. Petaluma also boasts a strong barrier to entry with limited amounts of land and high impact fees. 1304 Southpoint is an opportunity to acquire an asset far below replacement cost.
1304 Southpoint is an opportunity for an investor or partial owner/user to buy a high-quality office building in a strong up and coming market with a high barrier to entry. The property sits on 3 acres and provides a strong 6 per 1,000 parking ratio which makes it attractive to a wide range of uses from General Office, to Medical Uses and Call Centers. New Improvements to the lobby and several
of the suites should limit any large Capital Expenditures to a new Owner.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
51,145 SF
Building Class
B
Year Built/Renovated
1990/2019
Price
$7,000,000
Price Per SF
$137
Cap Rate
8.05%
NOI
$563,656
Percent Leased
66%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
25,015 SF
Slab To Slab
10’
Building FAR
0.39
Lot Size
3.01 AC
Zoning
PUD - Planned Unit Development
Parking
220 Spaces (6 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
PROPERTY TAXES
| Parcel Number | 048-080-040 | Improvements Assessment | $5,100,000 |
| Land Assessment | $1,400,000 | Total Assessment | $6,500,000 |
PROPERTY TAXES
Parcel Number
048-080-040
Land Assessment
$1,400,000
Improvements Assessment
$5,100,000
Total Assessment
$6,500,000
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