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2601 - 2619 Oliver Drive, Hayward, CA

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2601 - 2619 Oliver Drive

Hayward, CA 94545-4137 - W Hayward/Castro Valley Submarket


Property Type:Retail Sub Type:- Status:Existing Year Built:1980
Building Size:6,000 SF Land Area:.55 AC (23,958 SF)
For Sale Price:$2,495,000 Price/SF:$415.83
Cap Rate:5.44 %
Parking:33 Surface spaces are available; Ratio of 5.56/1,000 SF
Features:Pylon Sign


Property Description: Strip Center




Sale Notes:
$500,000 PRICE REDUCTION---PRICED TO SELL!

Hayward Retail Center***7 Tenants***100% Occupancy

Avison Young is please to present this 6,000 square foot neighborhood shopping center in the heart of Hayward. The center is home to a blend of seven (7) different retailers who have enjoyed the success of this location over the years. The current cap rate based on the actual net income (using the new tax base) offers an investor a 5.44% cap rate. Rents are under market, and all but 2 leases are on a NNN basis. The rents should be brought up to market, and the balance of the Modified Gross leases should be converted to a NNN basis. There is excellent upside in this well located retail center.

There is also excellent potential for development as this 24,000 square foot lot is zoned PD (Planned Development). A Planned Development zoning is put in place to encourage new development and foster residential as well as non-residential development.

2613 Oliver Drive is located in a well to do densely populated neighborhood of Hayward, CA. Surrounded by parks, apartments and single family homes, this center is the only retail available to the residence in the immediate area

Avison Young
Lloyd H Bakan
(424) 265-9194

Jon Geary
(650) 425-6415




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