Foothill Blvd Retail
For Sale
Contact for pricing
Pending
21756 Foothill Blvd, Hayward, CA 94541
Prime retail property with redevelopment potential near Hayward BART.
Property Size24,092 SF
Lot Size1.20 Acres
Days on Market544
Property Features for 21756 Foothill Blvd
General Information
Standard status
Pending
Size
24,092 SF
Lot size
1.20 Acres
Property subtype
Industrial, Office, Retail
Investment Type
Owner/User
Building Details
Year Built
1969
Listing Agency:
The Ivy Group
Listed By:
Tim Vi Tran, SIOR, CCIM · License #CA 01526603
Source:
Crexi
Added: Feb 14, 2025
Changed: Aug 8
Last Checked: Aug 11 at 7:10PM
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 The Ivy Group
Investment Insights
Based on property information with market context.
Located on Foothill Boulevard in Hayward, California, this commercial retail property offers an investment opportunity. The property includes approximately 24,092 square feet of retail space on a 1.20-acre lot. The site also features an additional adjacent parcel of approximately 18,480 square feet, bringing the total area to approximately 52,470 square feet. The property has 220 feet of frontage on Foothill Boulevard, which sees over 49,000 vehicles daily. There are 40 surface parking spaces available, providing a parking ratio of 1.66 spaces per 1,000 square feet. The property is zoned for Commercial General & Medium Density Residential, allowing for mixed-use redevelopment. The seller is open to a short-term sale-leaseback. The property is located 1.2 miles from Hayward BART station and 2.1 miles from Castro Valley BART, with proximity to Interstate 580. Nearby amenities include Downtown Hayward and California State University East Bay. The property is currently owner-occupied, presenting an opportunity for an owner/user. Developers may find the location suitable for creating housing within walking distance of the Hayward BART Station.
Key Highlights
- 1.2‑acre lot on highly trafficked Foothill Blvd with 220 feet of frontage and 49,000+ daily vehicle visibility.
- Potential for mixed‑use redevelopment due to Commercial General & Medium Density Residential zoning.
- Close proximity (1.2 miles) to Hayward BART station, plus access to Castro Valley BART and major freeways (I‑580).
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
$334,765
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
3.99%
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%
$6,695,300
$6.7M
Cap Rate 7%
$4,782,357
$4.8M
Cap Rate 9%
$3,719,611
$3.7M
Market Conditions
NOI Build-Up for 24,092 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
$520.4K $21.60/SF
− Vacancy
−$42.2K −$1.75/SF
EGI
$478.2K $19.85/SF
− OpEx
−$143.5K −$5.96/SF
NOI
$334.8K $13.90/SF
Area
Hayward, CA
Vacancy
8.10%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$6,695,300
Cap Rate 7%
$4,782,357
Cap Rate 9%
$3,719,611
Alternative Uses
Best Use
Retail
$4.78M
$4.18M – $5.58M
NOI $334,765 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.45M
$6.52M – $8.69M
NOI $521,312 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,058
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Prime retail property with redevelopment potential near Hayward BART.
Where is this retail space located?
The property is located at 21756 Foothill Blvd Hayward, CA.
What is the asking price?
The asking price for this property is $8,388,888.
What are key features of this property?
This property features: 1.2‑acre lot on highly trafficked Foothill Blvd with 220 feet of frontage and 49,000+ daily vehicle visibility.; Potential for mixed‑use redevelopment due to Commercial General & Medium Density Residential zoning.; Close proximity (1.2 miles) to Hayward BART station, plus access to Castro Valley BART and major freeways (I‑580).
