Sold Retail Properties in Alameda County – 22420 Foothill Blvd, Hayward, CA 94541 3/10
Sold Retail Properties in Alameda County – 22420 Foothill Blvd, Hayward, CA 94541 3/10
22420 Foothill Blvd, Hayward, CA 94541
Sale Information | |
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Sale Status: |
Sold
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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
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Estimated days on LoopNet Marketplace: |
94
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Property Details | |
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Property Type: |
Retail
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Property Sub-type: |
Free Standing Bldg
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Building Size: |
12,672 SF
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Property Description | |
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– 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
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Parties to Transaction
Seller: |
Oryom Ventures LLC
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Buyer: |
Ventures 90 Holdings
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Broker: |
Adam Sapir
1520 Taylor Street San Francisco, CA
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Major Tenants | ||||
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Name | Lease Expires | SF Occupied | ||
Big 5 Sporting Goods
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02/01/2021
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12672
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