Flex Warehouse Condo with Roll-Up
For Sale
$695,000
21087 Cabot Blvd, Hayward, CA 94545
Functional two-level flex space with offices, workrooms, and a 10' x 14' electric roll-up door.
Property Size1,800 SF
Days on Market96
Property Features for 21087 Cabot Blvd
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Building Details
Building Size
1,800 SF
Listed By:
Ethan Lew · License #02440620 (CA)
(415) 651-2570
Source:
Matthews
Added: Jun 22
Changed: Sep 17
Last Checked: Sep 24 at 6:34AM
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 Ethan Lew
Investment Insights
Based on property information with market context.
Radley Court OA commercial condo offers a two-level flex layout totaling 3,867 square feet on a 7,350 square foot lot (per county record). Level One features a spacious work floor with equipment, a walk-in freezer, six offices, and restrooms including one full bath with shower and a half bath newly upgraded. The space also includes a 10' x 14' electric roll-up door for loading and practical day-to-day access.
Level Two provides five workrooms plus a living room, meeting room, and a gourmet kitchenette with granite countertop. Laminate flooring runs throughout the second floor. The property is equipped with HVAC, supporting year-round usability for office, production, or back-of-house functions.
This configuration is well suited for owner-operators or tenants who need a true live/work style workflow—combining dedicated office areas with functional workrooms and refrigeration. Recent building improvements include a new roof installed by the OA in 2024 and completed in 2025, adding confidence for operational continuity. The property is located at 21087 Cabot Boulevard in Hayward, California.
Level Two provides five workrooms plus a living room, meeting room, and a gourmet kitchenette with granite countertop. Laminate flooring runs throughout the second floor. The property is equipped with HVAC, supporting year-round usability for office, production, or back-of-house functions.
This configuration is well suited for owner-operators or tenants who need a true live/work style workflow—combining dedicated office areas with functional workrooms and refrigeration. Recent building improvements include a new roof installed by the OA in 2024 and completed in 2025, adding confidence for operational continuity. The property is located at 21087 Cabot Boulevard in Hayward, California.
Key Highlights
- Two‑level Radley Court OA commercial condo with 3,867 SF of functional flex space
- Lot size of 7,350 SF (per county record) with level layout
- Level one includes a work floor with equipment and a walk‑in freezer, plus 6 offices and 2 baths (1 full, 1 half upgraded)
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
$23,076
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
3.32%
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%
$461,520
$461.5K
Cap Rate 7%
$329,657
$329.7K
Cap Rate 9%
$256,400
$256.4K
Market Conditions
NOI Build-Up for 1,800 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
$28.7K $15.96/SF
− Vacancy
−$1.6K −$0.88/SF
EGI
$27.1K $15.08/SF
− OpEx
−$4.1K −$2.26/SF
NOI
$23.1K $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%
$461,520
Cap Rate 7%
$329,657
Cap Rate 9%
$256,400
Alternative Uses
Best Use
Warehouse
$329.7K
$288.5K – $384.6K
NOI $23,076 @ 7.0% cap · market cap 3.32%
Second Best
Industrial
$271.5K
$237.6K – $316.7K
NOI $19,004 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$556.4K
$486.9K – $649.2K
NOI $38,949 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Functional two-level flex space with offices, workrooms, and a 10' x 14' electric roll-up door.
Where is this flex space located?
The property is located at 21087 Cabot Blvd Hayward, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑level Radley Court OA commercial condo with 3,867 SF of functional flex space; Lot size of 7,350 SF (per county record) with level layout; Level one includes a work floor with equipment and a walk‑in freezer, plus 6 offices and 2 baths (1 full, 1 half upgraded)
