Downtown Hayward Retail/Service
For Sale
$649,000
Pending
22531 Main St, Hayward, CA 94541
Five-unit retail property in downtown Hayward near BART.
Property Size2,455 SF
Lot Size0.08 Acres
Days on Market154
Property Features for 22531 Main St
General Information
Standard status
Pending
Size
2,455 SF
Lot size
0.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,421
Building Details
Year Built
1966
Listing Agency:
Michael Tanzillo R.E. Brkr
(510) 206-3156
Listed By:
Paul Mader · License #00795784
Source:
Elliman
Added: Mar 11
Changed: Aug 10
Last Checked: Aug 10 at 2:45PM
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 Michael Tanzillo R.E. Brkr
Investment Insights
Based on property information with market context.
This five-unit retail/service property features 2,455+/- sq ft of space on a 3,349+/- sq ft lot. Constructed in 1966, the concrete block building contains units averaging 491 sq ft in size. A common hallway at the rear provides access to two restrooms. Currently, the spaces are occupied by hairstylists, a waxing business, and a jewelry repair service, all operating on month-to-month terms. The property is located behind 22561 and 22567 Main Street and faces a city-owned free public parking lot. Situated in downtown Hayward, it is three blocks from BART, and the parking lot offers multiple access points.
Key Highlights
- Downtown Hayward location, just 3 blocks from BART
- Fronts a city‑owned free public parking lot with multiple access points
- Five‑unit retail/service property
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
$34,113
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
5.26%
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%
$682,260
$682.3K
Cap Rate 7%
$487,329
$487.3K
Cap Rate 9%
$379,033
$379.0K
Market Conditions
NOI Build-Up for 2,455 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
$53.0K $21.60/SF
− Vacancy
−$4.3K −$1.75/SF
EGI
$48.7K $19.85/SF
− OpEx
−$14.6K −$5.96/SF
NOI
$34.1K $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%
$682,260
Cap Rate 7%
$487,329
Cap Rate 9%
$379,033
Alternative Uses
Best Use
Retail
$487.3K
$426.4K – $568.6K
NOI $34,113 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$758.9K
$664.0K – $885.4K
NOI $53,122 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,250
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 - Five-unit retail property in downtown Hayward near BART.
Where is this retail space located?
The property is located at 22531 Main St Hayward, CA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Downtown Hayward location, just 3 blocks from BART; Fronts a city‑owned free public parking lot with multiple access points; Five‑unit retail/service property
