Flex Space with Grade-Level
For Sale
Contact for pricing
4700 Horner St, Union City, CA 94587
Flex space with 12 grade-level doors, fully sprinklered, plus fenced, secured concrete yard.
Property Size60,648 SF
Price / SF$164.87
Days on Market535
Property Features for 4700 Horner St
General Information
Standard status
Active
Size
60,648 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
24 ft
Office Build-Out
2,800 SF
Drive-In Doors
12
Power
1,000 amps
Voltage
480 V
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Fenced Yard
Yes
Listing Agency:
Newmark | Oakland
(510) 923-6200
Listed By:
Paul Mueller · License #00896726
(510) 220-3341
Source:
Moodyscre
Added: Apr 3, 2025
Changed: Sep 15
Last Checked: Sep 19 at 10:11AM
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 Newmark | Oakland
Investment Insights
Based on property information with market context.
Flex space at 4700 Horner St includes approximately 2,800 SF of office space with an additional bonus mezzanine. The warehouse portion provides 20–24’ clear height and is served by twelve (12) grade-level doors. The building is fully sprinklered and includes a fenced and secured concrete yard for controlled outdoor storage.
The property also carries an electrical service of 1,000 Amps at 277/480 (please verify). Buildings B and C are leased to Cal Pack Crating through 10/31/26.
Overall, the combination of grade-level access, clear height, and secured yard space supports flexible industrial and logistics use while maintaining dedicated office presence.
The property also carries an electrical service of 1,000 Amps at 277/480 (please verify). Buildings B and C are leased to Cal Pack Crating through 10/31/26.
Overall, the combination of grade-level access, clear height, and secured yard space supports flexible industrial and logistics use while maintaining dedicated office presence.
Key Highlights
- Leased buildings B and C to Cal Pack Crating through 10/31/26
- 2,800 SF office space plus additional bonus mezzanine
- 20‑24’ clear height
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
$851,498
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
8.52%
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%
$17,029,960
$17.0M
Cap Rate 7%
$12,164,257
$12.2M
Cap Rate 9%
$9,461,089
$9.5M
Market Conditions
NOI Build-Up for 60,648 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
$1.46M $24.00/SF
− Vacancy
−$145.6K −$2.40/SF
EGI
$1.31M $21.60/SF
− OpEx
−$458.5K −$7.56/SF
NOI
$851.5K $14.04/SF
Area
Alameda County, CA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$17,029,960
Cap Rate 7%
$12,164,257
Cap Rate 9%
$9,461,089
Alternative Uses
Best Use
Warehouse
$13.22M
$11.57M – $15.42M
NOI $925,440 @ 7.0% cap · market cap 9.26%
Second Best
Flex RnD
$12.16M
$10.64M – $14.19M
NOI $851,498 @ 7.0% cap · market cap 8.52%
Theoretical Best
Retail
$276.49M
$241.93M – $322.57M
NOI $19,354,384 @ 7.0% cap · market cap 193.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
24 ft
Clear height
12
Drive-in doors
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94587, CA
70,121
Population
21,923
Households
3.2
Avg Household Size
40
Median Age
45%
College-Educated
87%
High-School Grad
19.6 sq mi
ZIP Area
3,578
Density / Sq Mi
$137,194
Median Household Income
$66,405
Median Earnings
$2,713
Median Rent
$1,058,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Flex space with 12 grade-level doors, fully sprinklered, plus fenced, secured concrete yard.
Where is this flex space located?
The property is located at 4700 Horner St Union City, CA.
What is the asking price?
The asking price for this property is $9,998,800.
What are key features of this property?
This property features: Leased buildings B and C to Cal Pack Crating through 10/31/26; 2,800 SF office space plus additional bonus mezzanine; 20‑24’ clear height
