37981 Niles Boulevard, Fremont, CA, USA

Price: $2,520,000 ($461/SF)

Status: Withdrawn on March 2023

37981 Niles Blvd, Fremont, CA

Executive Summary

The Ivy Group is pleased to offer FOR SALE a free standing, neighborhood multi tenant retail property located in the Niles District of Fremont, CA.

Zoned Commercial General with a Historical Overlay (CG (HOD)), the property consists of 4 units and anchored by a corporate 7-Eleven.

Offered to the market the first time since its development in 1984, the property provides investors the extremely rare opportunity to purchase a highly sought after, value added neighborhood retail strip center in the established 880 submarket corridor of Silicon Valley with quality, daily needs tenancy paying on average 20% below market rents.


  • Value Add Opportunity: Investors can significantly boost cash flow by bringing tenants with expired leases up to market rents, as well as converting older gross leases to triple net (NNN) lease structures.
  • Excellent Curb Appeal: Pride of ownership with recent tenant improvements in 2021, including American With Disabilities Act (ADA) compliant sidewalks, ramps, landscaping and paint.
  • Bread & Butter Neighborhood Strip Center: Prototypical strip center layout with efficiently sized tenant suites conducive to high occupancy, optimal rents, and low tenant improvement costs.
  • Corner Location At Signalized Intersection: Located at the signalized intersection of the heavily traveled Mission Blvd and Niles Blvd with exposure to high traffic counts.
  • Infill, Affluent Demographics: Irreplaceable location situated in the heart of the supply constrained 880 corridor trade area. Densely populated, infill location with 45,000 population with a median household income in excess of $152,727 within 2 miles radius.
  • Longstanding, Internet Resistant Tenancy: The property is anchored by corporate 7-Eleven with a diverse mix of local tenants serving the daily needs of the surrounding community, facing virtually zero competition from online retailers.
  • Tight Market Fundamentals: Infill and mature trade area with limited sites available for future development creating high barriers to entry for future competition. The Fremont retail submarket boasts a low 4.2 % vacancy rate with 8.6M square feet of inventory.
  • Ideal 1031 Exchange: Prime Niles District neighborhood strip center with a significant value-add component makes the property an ideal 1031 Exchange candidate.
Offering Memorandum
  • Hidden
Due Diligence
  • Hidden


  • Building Size

    ± 5,470 SF

  • Lot Size

    ± 22,850 SF (± 0.52 acres)

  • Year Built


  • Zoning

    CG (HOD)

  • Use

    Retail / Office

  • Freeway Access

    Easy access to Hwy 680

  • Bart Station

    Minutes to Fremont BART Station

  • Parking

    19 spaces, recent ADA upgrades

  • Metering

    Each unit separately metered

  • Number of Units


  • APN



The property is located in the Niles District of Fremont, CA. It is strategically situated at the corner of Niles Blvd and Mission Blvd, with direct access to Hwy 680.

The property is surrounded by numerous residential homes and convenient amenities.

Per a recent San Jose Business Journal article by Katie Burke, dated August 30, 2021, she noted:

“Situated along the southeastern border of the San Francisco Bay, Fremont is a short drive from the world’s largest tech hub in Silicon Valley and the strengthening biotech market along the peninsula. It’s in the center of the region’s largest industrial market, a pocket of the real estate industry that has fared well throughout the current health and economic crises largely because of the rise in e-commerce and increasing tenant demand to build out distribution networks.

But the East Bay suburb’s appeal now extends far beyond its plethora of warehouse and distribution space. Fremont officials in recent years have ramped up efforts to attract corporate tenants in the biotech, advanced manufacturing and technology sectors, all of which are expected to generate significant dividends for the region in the short- and long-term future, said Marco Cugia, CoStar’s associate director of market analytics in San Francisco.

Social media giant Facebook now encompasses more than 1 million square feet of office space in Fremont, according to CoStar data. Electric car maker Tesla houses all its manufacturing operations and more than 10,000 employees in its Fremont factory at 45500 Fremont Blvd. The city is now home to more than 1,200 high-tech, life sciences and clean technology firms, according to Fremont’s Economic Development Department.”

Fremont, CA Demographics