Commercial Condo with
For Sale
$1,690,000
21087 Cabot Boulevard 7, Hayward, CA 94545
Spacious commercial condo featuring upgraded amenities and flexible workspace.
Property Size3,867 SF
Lot Size0.17 Acres
Price / SF$437.03
Days on Market483
Property Features for 21087 Cabot Boulevard 7
General Information
Standard status
Active
Size
3,867 SF
Lot size
0.17 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1981
Listing Agency:
Top Travisso Realty and Investment
(408) 930-1487
Listed By:
Amanda Lai · License #01771466
(408) 930-1487
Source:
Exitrealty
Added: Apr 15, 2025
Changed: Aug 8
Last Checked: Aug 8 at 7:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Top Travisso Realty and Investment
Investment Insights
Based on property information with market context.
This commercial condo, located in Radley Court OA, offers a desirable floor plan with 3,867 square feet of space on a 7,350 square foot lot. The first level features a spacious work floor equipped with a walk-in freezer, along with six offices, a full bathroom with a shower, and a newly upgraded half bathroom. A 10x14 electric roll-up door provides convenient access. The second level includes five workrooms, a living room, a meeting room, and a gourmet kitchenette with granite countertops and laminate flooring. The property is equipped with HVAC. The roof was newly installed by OA in 2024 and completed in 2025.
Key Highlights
- Spacious 3,867 sqft commercial condo with a desirable floor plan.
- Includes a walk‑in freezer and a 10X14 electric roll‑up door.
- Features 6 offices, a full bath with shower, and a newly upgraded half bath.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,574
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$991,480
$991.5K
Cap Rate 7%
$708,200
$708.2K
Cap Rate 9%
$550,822
$550.8K
Market Conditions
NOI Build-Up for 3,867 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.7K $15.96/SF
− Vacancy
−$3.4K −$0.88/SF
EGI
$58.3K $15.08/SF
− OpEx
−$8.7K −$2.26/SF
NOI
$49.6K $12.82/SF
Area
Hayward, CA
Vacancy
5.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$991,480
Cap Rate 7%
$708,200
Cap Rate 9%
$550,822
Alternative Uses
Best Use
Warehouse
$708.2K
$619.7K – $826.2K
NOI $49,574 @ 7.0% cap · market cap 2.93%
Second Best
Industrial
$583.2K
$510.3K – $680.4K
NOI $40,826 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.20M
$1.05M – $1.39M
NOI $83,676 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94545, CA
33,786
Population
10,439
Households
3.2
Avg Household Size
39
Median Age
34%
College-Educated
84%
High-School Grad
14.5 sq mi
ZIP Area
2,330
Density / Sq Mi
$115,258
Median Household Income
$55,874
Median Earnings
$2,426
Median Rent
$838,800
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Spacious commercial condo featuring upgraded amenities and flexible workspace.
Where is this flex space located?
The property is located at 21087 Cabot Boulevard 7 Hayward, CA.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Spacious 3,867 sqft commercial condo with a desirable floor plan.; Includes a walk‑in freezer and a 10X14 electric roll‑up door.; Features 6 offices, a full bath with shower, and a newly upgraded half bath.
