Industrial Flex
For Sale
Contact for pricing
2214 American Avenue, Hayward, CA 94545
IG-zoned flex property with multiple suites across two parcels in Hayward.
Property Size19,200 SF
Price / SF$286.46
Days on Market139
Property Features for 2214 American Avenue
General Information
Standard status
Active
Size
19,200 SF
Class
B
Property subtype
Industrial
Zoning
IG (Industrial)
Occupancy
81%
Lease Type
Modified Gross
Investment Type
Net Lease
Building Details
Buildings
2
Stories
1
Units
14
Tenancy
Multi
Listing Agency:
Newmark - Oakland
(510) 923-6200
Listed By:
Paul Mueller · License #CA 00896726
Source:
Crexi
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 30 at 12:08AM
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.
This flex property contains 19,200 square feet configured into 14 units, including 12 units of 1,200 square feet and two units of 2,400 square feet. Three units are currently vacant, while the property is otherwise described as leased. The configuration supports a range of industrial and commercial occupancy requirements within a multi-suite setting.
The asset occupies two parcels totaling 0.93 acres at 2214 American Avenue in Hayward, California. Zoning is IG (Industrial), providing the property’s stated industrial land-use designation.
The asset occupies two parcels totaling 0.93 acres at 2214 American Avenue in Hayward, California. Zoning is IG (Industrial), providing the property’s stated industrial land-use designation.
Key Highlights
- 19,200 SF flex property configured into 14 units
- Unit mix includes 12 units at 1,200 SF and 2 units at 2,400 SF
- 3 units currently vacant
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
$202,705
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
3.69%
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%
$4,054,100
$4.1M
Cap Rate 7%
$2,895,786
$2.9M
Cap Rate 9%
$2,252,278
$2.3M
Market Conditions
NOI Build-Up for 19,200 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
$306.4K $15.96/SF
− Vacancy
−$16.9K −$0.88/SF
EGI
$289.6K $15.08/SF
− OpEx
−$86.9K −$4.52/SF
NOI
$202.7K $10.56/SF
Area
Hayward, CA
Vacancy
5.50%
Lease Rate
$15.96 /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%
$4,054,100
Cap Rate 7%
$2,895,786
Cap Rate 9%
$2,252,278
Alternative Uses
Best Use
Industrial
$2.90M
$2.53M – $3.38M
NOI $202,705 @ 7.0% cap · market cap 3.69%
Second Best
Flex RnD
$2.82M
$2.46M – $3.28M
NOI $197,084 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$5.94M
$5.19M – $6.92M
NOI $415,457 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,082
Businesses Nearby
Balanced
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 - IG-zoned flex property with multiple suites across two parcels in Hayward.
Where is this flex space located?
The property is located at 2214 American Avenue Hayward, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 19,200 SF flex property configured into 14 units; Unit mix includes 12 units at 1,200 SF and 2 units at 2,400 SF; 3 units currently vacant
