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Video Executive Summary Highlights Pictures

22971 Sutro Street, Hayward, CA, USA

Price: $1,175,000 ($229/SF)

Status: Sold on June 2024

22971 Sutro St, Hayward, CA

Executive Summary

The Ivy Group is pleased to offer FOR SALE a free standing, single story office building located in Hayward, CA. The Property provides an owner/user, or an investor the opportunity to purchase a highly sought after office property located in the established 880 East Bay submarket corridor.

INVESTMENT HIGHLIGHTS:

  • Ingress / Egress: The property consists of three points of ingress / egress, making it convenient and easy to access.
  • Entrance / Exit: The property consists of five points of entrance / exit, allowing the convenience to enter and exit the building with ease, and/or to convert to multi tenant scenario.
  • Excellent Curb Appeal: Pride of ownership with well maintained sidewalks, landscape and paint.
  • Bread & Butter Neighborhood Office Building: Prototypical office building with private offices layout with efficiently sized suites conducive to office / medical uses.
  • Corner Location At Signalized Intersection: Located at the signalized intersection of the heavily traveled Jackson Street (CA-92) and Meek Avenue with exposure to high traffic counts.
  • Strong Demographics: Irreplaceable location situated in the heart of the supply constrained 880 corridor trade area. Densely populated location with 57,250 population with a median household income in excess of $112,897 within 2 miles radius.
  • Longstanding, Internet Resistant Tenancy: The Property is currently vacant, offering the buyer with an opportunity to occupy it for its own business, or an investor to place a tenant at market rate to serve the needs of the surrounding community.
  • Tight Market Fundamentals: Infill and mature trade area with limited sites available for future development creating high barriers to entry for future competition. The Hayward office submarket boasts a low 4.7 % vacancy rate with 3.9M square feet of inventory.
  • Ideal 1031 Exchange: Prime neighborhood office building with a significant value-add component makes the Property an ideal 1031 Exchange candidate.​​​​​​ This property is part of the General Plan with a Medium Density Residential (MDR) designation, which offers the buyer to potentially redevelop the building to achieve desired returns.
Offering Memorandum
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Due Diligence
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Highlights

  • Building Size

    ± 5,128 SF

  • Lot Size

    ± 18,530 SF (± 0.43 acres)

  • Year Built

    1964

  • Zoning

    Neighborhood Commercial (CN)

  • Use

    Medium Density General Plan

  • Freeway Access

    Easy access to Interstate 880

  • Accessibility

    Convenient and easy access to major freeways

  • Bart Station

    Walking distance to Hayward BART Station

  • Bus Stop

    Walking distance to major bus stops

  • Parking

    12 on site spaces

  • APN

    431-48-52-5

Location

Located at the signalized intersection of the heavily traveled Jackson Street (CA-92) and Meek Avenue with exposure to high traffic counts.

The property is walking distance to vibrant and amenities rich downtown Hayward, CA.

Property Photos

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Withdrawn
27369 Mission Blvd, Hayward, CA
Price:$1,888,888 ($342/SF)
Building Size: ± 5,520 SF
Lot Size: ± 15,285 SF (± 0.35 acres)
Year Built: 1963
Zoning: Mission Boulevard Corridor Neighborhood (MBCN)
Sold
3740 Foothill Blvd, Oakland, CA
Price:$1,100,000 ($455/SF)
Building Size: ± 2,413 SF
Lot Size: ± 6,565 SF (± 0.151 acres)
Year Built: 1920, recently renovated
Zoning: RU5
Expired
1983 Alpine Way, Hayward, CA
Price:$1.68/SF MG
Building Size: Total Available Size: ± 24,870 SF | Min divisible: ± 12,435 SF
Lot Size: ± 58,065 SF (± 1.33 acres)
Year Built: 1972
Zoning: Industrial
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