Sold Retail Property in Alameda County – 4075 Papazian Way,

Fremont, CA 94538 2/10

4075 Papazian Way, Fremont, CA 94538
Sale Information
Sale Status: Sold
Sale Date: 01/24/2014
Sale Price: $2,120,000 ($235.56/SF)
Cap Rate: 5.00% (At Time Of Sale)
Listing Price: $2,247,500
Estimated days on LoopNet Marketplace: 242
Property Details
Property Type: Retail
Property Sub-type: Community Center
Building Size: 9,000 SF
Lot Size: 15,753 SF
APN / Parcel ID: 525-0670-007-07

Property Description
We are pleased to offer for sale this FULLY-OCCUPIED 15-unit mixed-use office/retail center in the heart of the Bay Street Development Zone in Central Fremont. This approximately 9,000 sf building was built in 1988, and has since been personally managed by the same builder/owner for the last 25 years. The property has tremendous upside potential. Many of the tenants have been in place for several years and have never had rental increases. Rents are substiantially under-market. Almost all the tenants are on month-to-month leases. A new owner can quickly bring all units to market rent by making modest T.I. investments in the retail spaces. In addition, the property is suitable for an owner/user to open dental offices.