Medical Office Building With Gated
For Sale
Contact for pricing
1866 B Street, Hayward, CA 94541
Three-unit medical/professional office building on a corner lot with 20+ gated parking spaces and in-place tenants.
Property Size6,240 SF
Price / SF$304.49
Days on Market90
Property Features for 1866 B Street
General Information
Standard status
Active
Size
6,240 SF
Class
C
Total Parking Spaces
20
Property subtype
Office
Zoning
CO
Occupancy
100%
Lease Type
Gross
Investment Type
Owner/User
Additional Details
Cap Rate
5.29%
Office Units
3
Building Details
Year Built
1979
Year Renovated
2016
Buildings
1
Stories
2
Units
20
Tenancy
Multi
Listing Agency:
Compass San Francisco
Listed By:
Paul Zinchik · License #CA 01454157
(415) 297-1300
Source:
Crexi
Added: Jun 10
Changed: Aug 23
Last Checked: Sep 6 at 5:16AM
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 Compass San Francisco
Investment Insights
Based on property information with market context.
This three-unit medical/professional office building is situated on a corner lot and offers 20+ gated parking spaces. The property includes two tenants in place generating $9,946.70 per month, with both leases featuring 3% annual escalations. A fully built-out dental suite is also available for immediate occupancy at close, and the seller indicates the associated 10-year established practice is consolidating separately.
The asset is located at 1866 B Street, Hayward, CA 94541. The offering includes the existing lease income from the two current tenants, and it is presented with a 5.29% cap rate in the provided materials.
The asset is located at 1866 B Street, Hayward, CA 94541. The offering includes the existing lease income from the two current tenants, and it is presented with a 5.29% cap rate in the provided materials.
Key Highlights
- Three‑unit medical/professional office building on a corner lot
- Two tenants in place generating $9,946.70/month
- Fully built‑out dental suite available for immediate occupancy at close
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
$106,884
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
5.63%
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%
$2,137,680
$2.1M
Cap Rate 7%
$1,526,914
$1.5M
Cap Rate 9%
$1,187,600
$1.2M
Market Conditions
NOI Build-Up for 6,240 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
$194.7K $31.20/SF
− Vacancy
−$16.5K −$2.65/SF
EGI
$178.1K $28.55/SF
− OpEx
−$71.3K −$11.42/SF
NOI
$106.9K $17.13/SF
Area
Hayward, CA
Vacancy
8.50%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
40.00%
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%
$2,137,680
Cap Rate 7%
$1,526,914
Cap Rate 9%
$1,187,600
Alternative Uses
Best Use
Healthcare Medical
$1.53M
$1.34M – $1.78M
NOI $106,884 @ 7.0% cap · market cap 5.63%
Second Best
Office B
$1.39M
$1.22M – $1.63M
NOI $97,606 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,024 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
Explore this area
Business Placement
Demographics for 94541, CA
69,736
Population
23,217
Households
3
Avg Household Size
36
Median Age
30%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
9,298
Density / Sq Mi
$106,556
Median Household Income
$52,023
Median Earnings
$2,229
Median Rent
$781,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-unit medical/professional office building on a corner lot with 20+ gated parking spaces and in-place tenants.
Where is this office building located?
The property is located at 1866 B Street Hayward, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three‑unit medical/professional office building on a corner lot; Two tenants in place generating $9,946.70/month; Fully built‑out dental suite available for immediate occupancy at close
