22420 Foothill Blvd, Hayward, CA 94541; Sold Retail Property; in Alameda County

22420 Foothill Blvd, Hayward, CA 94541; Sold Retail Property; in Alameda County


Sold Retail Property in Alameda County – 22420 Foothill Blvd,

Hayward, CA 94541

main

map

 22420 Foothill Blvd, Hayward, CA 94541

Sale Information


Sale Status: Sold
Sale Date: 01/22/2014
Sale Price: $3,127,000 ($246.76/SF)
Cap Rate: 5.50% (At Time Of Sale)
Listing Price: $3,127,000
Estimated days on LoopNet Marketplace: 94

Property Details


Property Type: Retail
Property Sub-type: Free Standing Bldg
Building Size: 12,672 SF

Property Description
– Infill Bay Area location with significant barriers to entry – Brand new 7.5 Year NNN lease with 10% rental increases every 5 Years – Over $750,000 spent on new store build out, including: new façade, HVAC, fire sprinklers/alarm, plumbing, electrical, plate glass, etc. – Store completion scheduled for November 2013 – Well below market rent, negotiated in early 2012, pre downtown renovations. – Very low price per SF, “bite size" price point for prime Bay Area asset. – Big 5 was looking for a location in Downtown Hayward for several years before this building became available – At the epicenter of the recently completed $100 Million Highway 238 improvement project. Including: converting Foothill Blvd into 7 lane hwy, new roads/ sidewalks/ intersections/landscaping, new facades along Foothill Blvd, improved bicycle and pedestrian access, etc – Brand new parking lot/landscaping – Ease of management; Tenant pays all expenses directly.

Parties to Transaction
Seller:
Oryom Ventures LLC

 

Buyer:
Ventures 90 Holdings
Broker:
Adam Sapir
1520 Taylor Street San Francisco, CA
Major Tenants
Name Lease Expires SF Occupied
Big 5 Sporting Goods
02/01/2021
12672