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400 Morris St 23,690 SF 100% Leased Industrial Building Sebastopol, CA 95472 $6,970,000 ($294.22/SF) 5.77% Cap Rate
Investment Highlights
- Excellent Industrial multi-tenant opportunity totaling 23,690 SF on a 1.48-acre site, offering flexible space for production, office, & service uses.
- Home to long-established local manufacturing and professional service businesses, providing varied income streams and a strong community presence.
- Supporting a mix of industrial, creative office, and service tenants; ideal for those seeking versatile space in Sonoma County’s employment base.
- Situated in Sebastopol, a dynamic North Bay market known for its creative economy, wine-country tourism, and light industrial/commercial growth.
- Proximity to downtown amenities, regional highways, and surrounding business services enhances tenant appeal and future lease-up potential.
Executive Summary
400 Morris Street is a 23,690-square-foot multi-tenant industrial warehouse situated on 1.48 acres, uniquely positioned adjacent to The Barlow dining and entertainment district. This exceptional property combines functional industrial space with premium lifestyle amenities, making it ideal for both owner-users seeking a distinctive corporate campus and investors targeting durable cash flow in a supply-constrained submarket.
Built in 1988 with 20-foot clear heights, the property features multiple semi-truck loading doors, excellent parking (2.0/1,000 SF), and recent capital improvements, including new insulation. The building offers a diverse tenant profile, including a long-term lease providing stable in-place income, and flexible delivery options that allow the property to be delivered partially or fully vacant to accommodate buyer requirements.
The strategic location offers unmatched employee amenities via The Barlow’s restaurants, retail, and entertainment venues, along with strong regional connectivity through SMART Rail (11 minutes) and Sonoma County Airport (21 minutes). This represents a rare opportunity to acquire a well-located industrial asset with optionality for both investment and owner-user strategies in the Sebastopol market.
Built in 1988 with 20-foot clear heights, the property features multiple semi-truck loading doors, excellent parking (2.0/1,000 SF), and recent capital improvements, including new insulation. The building offers a diverse tenant profile, including a long-term lease providing stable in-place income, and flexible delivery options that allow the property to be delivered partially or fully vacant to accommodate buyer requirements.
The strategic location offers unmatched employee amenities via The Barlow’s restaurants, retail, and entertainment venues, along with strong regional connectivity through SMART Rail (11 minutes) and Sonoma County Airport (21 minutes). This represents a rare opportunity to acquire a well-located industrial asset with optionality for both investment and owner-user strategies in the Sebastopol market.
Sale Flyer
Property Facts
| Price | $6,970,000 | Lot Size | 1.50 AC |
| Price Per SF | $294.22 | Rentable Building Area | 23,690 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 5.77% | Year Built | 1988 |
| Property Type | Industrial | Parking Ratio | 2/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 24’ |
| Building Class | C | ||
| Zoning | M | ||
| Price | $6,970,000 |
| Price Per SF | $294.22 |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.50 AC |
| Rentable Building Area | 23,690 SF |
| No. Stories | 1 |
| Year Built | 1988 |
| Parking Ratio | 2/1,000 SF |
| Clear Ceiling Height | 24’ |
| Zoning | M |
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Demographics
Regional Accessibility
City
Population
Miles
Drive Time
San Francisco
883,305
56
1 h 18 m
San Jose
1,030,119
106
2 h 14 m
Fresno
530,093
232
4 h 39 m
Los Angeles
3,990,456
433
8 h 9 m
Portland
653,115
618
12 h 23 m
Las Vegas
644,644
621
11 h 43 m
Access and Labor Force
10 Miles
Total Population
307,653
Total Labor Force
170,273
Unemployment Rate
3.26%
Median Household Income
$93,866
Warehouse Employees
24,407
High School Education Or Higher
88.40%
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Crooked Goat Brewing | American | $$$ | 6 min walk |
| Sushi Kosho | Japanese | $$$ | 6 min walk |
| Tierra Divina Vineyards | - | - | 6 min walk |
| Ultra Crepes | Crepes | $ | 8 min walk |
| Woodfour Brewing Company | American | $ | 8 min walk |
| Screamin' Mimi | Ice Cream | $ | 10 min walk |
| Thai Pot | Thai | $$ | 11 min walk |
| Sushi Hana Sebastopol | Sushi | $$ | 12 min walk |
| Starbucks | Cafe | $ | 13 min walk |
| Taqueria El Favorito | Mexican | $ | 14 min walk |
Retail |
||
|---|---|---|
| Edward Jones | Finance Company | 7 min walk |
| Whole Foods Market | Supermarket | 10 min walk |
| United States Postal Service | Business/Copy/Postal Services | 12 min walk |
| Chase | Bank | 12 min walk |
| Rite Aid | Drug Store | 12 min walk |
| CVS Pharmacy | Drug Store | 11 min walk |
| Anytime Fitness | Fitness | 12 min walk |
| The UPS Store | Business/Copy/Postal Services | 12 min walk |
| Safeway | Supermarket | 13 min walk |
| United States Postal Service | Business/Copy/Postal Services | 15 min walk |
Hotels |
|
|---|---|
| AC Hotels by Marriott |
142 rooms
12 min drive
|
| Courtyard |
138 rooms
12 min drive
|
| Hyatt Regency |
253 rooms
11 min drive
|
Property Taxes
| Parcel Number | 004-011-068 | Improvements Assessment | $1,796,367 |
| Land Assessment | $479,019 | Total Assessment | $2,275,386 |
Property Taxes
Parcel Number
004-011-068
Land Assessment
$479,019
Improvements Assessment
$1,796,367
Total Assessment
$2,275,386
Sale Advisors
Sale Advisors
James Kilpatrick, President, Chief Operating Officer
James Kilpatrick is the President of NAI Northern California. His career began in 1998 with a major national firm specializing in investment property brokerage where he received numerous achievement awards. He has been involved in investment transactions exceeding $1 Billion across most product categories and oversees the day to day operations, strategic expansion of the firm and large account management.
Mr. Kilpatrick is a San Francisco Bay Area native with ownership, management, syndication and debt structuring experience across most product types. He has had various positions from board of directors appointments to President of various real estate organizations. He has also been a regular contributing writer for newsletters and trade journals of organizations such as the Berkeley Property Owners Association (BPOA) and RHA (Rental Housing Association of northern Alameda county). He is a member of the Rental Housing Owners Group (RHO), the Investment Marketing Forum (IMF) and Investment Property Marketing Group (IPMG). In addition to the above, Mr. Kilpatrick has experience in distressed asset sales, expert witness work, portfolio valuations, condominium and subdivision work, bankruptcy and trustee’s sales, sale leasebacks and other more complicated transactions.
Mr. Kilpatrick is a San Francisco Bay Area native with ownership, management, syndication and debt structuring experience across most product types. He has had various positions from board of directors appointments to President of various real estate organizations. He has also been a regular contributing writer for newsletters and trade journals of organizations such as the Berkeley Property Owners Association (BPOA) and RHA (Rental Housing Association of northern Alameda county). He is a member of the Rental Housing Owners Group (RHO), the Investment Marketing Forum (IMF) and Investment Property Marketing Group (IPMG). In addition to the above, Mr. Kilpatrick has experience in distressed asset sales, expert witness work, portfolio valuations, condominium and subdivision work, bankruptcy and trustee’s sales, sale leasebacks and other more complicated transactions.
Seth Hubbert, Investment Advisor
Seth is an Investment Advisor at NAI Northern California, specializing in transacting multifamily assets in the Bay Area. Seth has a strong leadership, analytical, and service background, providing the highest-level value to clients.
Seth has grown and led several successful businesses, including Five Iron Financial, a real estate investment firm renovating distressed property and operating housing in high-growth regions in the United States. He also previously served as the CEO of Tech Exchange, providing 45,000 computers to students and families during the height of the pandemic.
Holding degrees in Physics and Education, Seth masterfully blends quantitative analysis with client guidance and support. When not immersed in real estate, you’ll find Seth coaching youth sports, serving on community boards, and volunteering at his children’s school.
Seth has grown and led several successful businesses, including Five Iron Financial, a real estate investment firm renovating distressed property and operating housing in high-growth regions in the United States. He also previously served as the CEO of Tech Exchange, providing 45,000 computers to students and families during the height of the pandemic.
Holding degrees in Physics and Education, Seth masterfully blends quantitative analysis with client guidance and support. When not immersed in real estate, you’ll find Seth coaching youth sports, serving on community boards, and volunteering at his children’s school.
Damon Gerstein, Investment Advisor
Damon Gerstein specializes in office, multifamily, and industrial real estate across the Bay Area. Born and raised in Marin County, CA, Damon has spent his life immersed in the region’s unique communities and dynamic market. His local knowledge, combined with his academic background, provides clients with both insight and strategy in navigating complex transactions. Damon earned his Bachelor of Science in Urban and Regional Development with a minor in Real Estate Development from the University of Arizona. This foundation equips him with a deep understanding of market analysis, urban planning, and investment strategy—tools he leverages to deliver value to his clients. At NAI NorCal, Damon is committed to learning from industry leaders while actively contributing to the team’s success. Outside of real estate, he is passionate about traveling and sports, enjoying everything from working out and snowboarding to hiking and exploring the outdoors.
Tim Marshall, Investment Advisory
Investment Advisor with a background in property management, operations, and client service. As founder of Marpensio LLC, Tim oversaw all aspects of property management including asset performance, tenant relations, leasing, and vendor coordination. Previous roles in operations and customer experience strengthened his leadership, process improvement, and client service skills.
Tim now applies this combined expertise to advising clients on commercial real estate investments. By leveraging market research and data-driven insights, he helps clients evaluate opportunities, maximize asset performance, and achieve long-term investment success with a client-first approach.
Tim now applies this combined expertise to advising clients on commercial real estate investments. By leveraging market research and data-driven insights, he helps clients evaluate opportunities, maximize asset performance, and achieve long-term investment success with a client-first approach.
Contacts
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James Kilpatrick -
Seth Hubbert -
Damon Gerstein -
Tim Marshall -
Ian Cruda -
NAI Northern California
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