Nursing Home Campus with 13
For Sale
$9,000,000
22427 Montgomery St, Hayward, CA 94541
As-is healthcare campus with skilled nursing, assisted living, and independent living components.
Property Size35,080 SF
Lot Size2.19 Acres
Days on Market131
Property Features for 22427 Montgomery St
General Information
Standard status
Active
Size
35,080 SF
Lot size
2.19 Acres
Property subtype
Comm Ind For Sale
Additional Details
Land Use
skilled nursing, assisted living, independent living, residential care
Amenities
secure outdoor areas
landscaped courtyards
walkable layout
Building Details
Building Size
35,080 SF
Year Built
1971
Buildings
13
Listing Agency:
Compass
(510) 541-0572
Listed By:
Lori Olson
(510) 541-0572
Source:
Realestatenovo
Added: Apr 13
Changed: Aug 19
Last Checked: Aug 21 at 11:27AM
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
Investment Insights
Based on property information with market context.
Located at 22427 Montgomery St in Hayward, California, this nursing home campus occupies 2.19 acres across 5 parcels. The property includes 13 buildings and was constructed in 1971. Its current configuration supports up to 100 residents, with 40 skilled nursing beds alongside assisted living and independent living components.
The site includes secured outdoor areas, landscaped courtyards, and an interconnected campus layout serving residential care functions. The property is offered as-is and includes existing healthcare-related improvements across the multi-building campus.
The site includes secured outdoor areas, landscaped courtyards, and an interconnected campus layout serving residential care functions. The property is offered as-is and includes existing healthcare-related improvements across the multi-building campus.
Key Highlights
- 2.19‑acre campus spanning 5 parcels
- 13 buildings constructed in 1971
- Current configuration accommodates up to 100 residents
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
$680,414
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
7.56%
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%
$13,608,280
$13.6M
Cap Rate 7%
$9,720,200
$9.7M
Cap Rate 9%
$7,560,156
$7.6M
Market Conditions
NOI Build-Up for 35,080 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
$1.30M $37.20/SF
− Vacancy
−$67.9K −$1.93/SF
EGI
$1.24M $35.27/SF
− OpEx
−$556.7K −$15.87/SF
NOI
$680.4K $19.40/SF
Area
Hayward, CA
Vacancy
5.20%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
45.00%
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%
$13,608,280
Cap Rate 7%
$9,720,200
Cap Rate 9%
$7,560,156
Alternative Uses
Best Use
Apartment 5plus
$9.72M
$8.51M – $11.34M
NOI $680,414 @ 7.0% cap · market cap 7.56%
Second Best
Healthcare Medical
$8.58M
$7.51M – $10.01M
NOI $600,878 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$10.84M
$9.49M – $12.65M
NOI $759,075 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,306
Businesses Nearby
Balanced
Demand for This Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Nursing home - As-is healthcare campus with skilled nursing, assisted living, and independent living components.
Where is this nursing home located?
The property is located at 22427 Montgomery St Hayward, CA.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: 2.19‑acre campus spanning 5 parcels; 13 buildings constructed in 1971; Current configuration accommodates up to 100 residents
