1460 E Cotati Avenue | Rohnert Park, CA
Sonoma Square Shopping Center (the “Property”) is an attractive value-add opportunity offering an investor tremendous upside in both cash flow and asset value through sound management, operations, and lease-up. The absentee owner of Sonoma Square Shopping Center is headquartered in Southern California. Demands in other areas of its real estate portfolio over the past several years have been an obstacle to allocating the necessary managerial oversight and other resources to this asset. The result is their decision to market and sell this multi-tenant retail investment. Competing unanchored and anchored retail centers within the trade area of Sonoma Square enjoy occupancy levels of 90%-100%. Stabilizing the occupancy of the Property at market-correct rent levels will more than double the current net operating income, and going-in capitalization rate. Stabilization costs are projected to be nominal to achieve the pro forma occupancy and income targets.
Located in the infill community of Rohnert Park in the San Francisco Bay area, Sonoma Square Shopping Center is situated between, and less than one mile from, Sonoma State University, Rancho Cotate High School, and the new Cotati SMART train station. The zoning of Sonoma Square allows for a wide variety of uses, enhancing the leaseability of the center. The Property has ample on-site parking, and ingress/egress is convenient for shoppers, with a dedicated left-turn lane eastbound on East Cotati Avenue into the double-wide, curb-cut driveway. A second double-wide, curb-cut driveway allows ingress/egress to and from Christobal Way.
Status: For Sale
Property Type: Retail
GLA: 14,549 SF