Ground Floor Restaurant
For Sale
Contact for pricing
24045 Mission Blvd, Hayward, CA 94541
Turnkey ground floor restaurant with existing equipment included in the sale.
Property Size7,482 SF
Price / SF$369.95
Days on Market146
Property Features for 24045 Mission Blvd
General Information
Standard status
Active
Size
7,482 SF
Total Parking Spaces
38
Property subtype
Retail, Mixed Use
Zoning
MB-CN
Investment Type
Owner/User
Building Details
Year Built
1957
Stories
2
Units
3
Listing Agency:
Avison Young - Palo Alto - Silicon Valley
Listed By:
jon geary · License #CA 01957003
(650) 520-4015
Source:
Crexi
Added: Apr 16
Changed: Aug 28
Last Checked: Sep 8 at 4:11AM
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 Avison Young - Palo Alto - Silicon Valley
Investment Insights
Based on property information with market context.
This ground floor restaurant operates under the current ownership of Emil Villa’s California Barbecue and is presented as a turnkey opportunity. The space is fully equipped, and all restaurant equipment will remain with the sale at no additional cost to the buyer.
The property is located at 24045 Mission Blvd in Hayward, California. The current owner has operated the existing business since purchasing the building in 2016.
For buyers seeking continuity, the property offers a ready-to-run restaurant setup. For qualified operators looking to pivot, the included equipment supports immediate use following purchase.
The property is located at 24045 Mission Blvd in Hayward, California. The current owner has operated the existing business since purchasing the building in 2016.
For buyers seeking continuity, the property offers a ready-to-run restaurant setup. For qualified operators looking to pivot, the included equipment supports immediate use following purchase.
Key Highlights
- Ground floor restaurant space currently operated by the owner
- Restaurant includes all equipment; equipment will remain with the sale at no additional cost
- Building year built: 1957
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
$118,347
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
4.28%
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%
$2,366,940
$2.4M
Cap Rate 7%
$1,690,671
$1.7M
Cap Rate 9%
$1,314,967
$1.3M
Market Conditions
NOI Build-Up for 7,482 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
$170.6K $22.80/SF
− Vacancy
−$12.8K −$1.71/SF
EGI
$157.8K $21.09/SF
− OpEx
−$39.4K −$5.27/SF
NOI
$118.3K $15.82/SF
Area
Hayward, CA
Vacancy
7.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,366,940
Cap Rate 7%
$1,690,671
Cap Rate 9%
$1,314,967
Alternative Uses
Best Use
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,347 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,899 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,529
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey ground floor restaurant with existing equipment included in the sale.
Where is this conventional restaurant located?
The property is located at 24045 Mission Blvd Hayward, CA.
What is the asking price?
The asking price for this property is $2,768,000.
What are key features of this property?
This property features: Ground floor restaurant space currently operated by the owner; Restaurant includes all equipment; equipment will remain with the sale at no additional cost; Building year built: 1957
