Hayward Strip Center For
For Sale
Contact for pricing
24471 Mission Blvd, Hayward, CA 94544
8,750 SF strip center with value-add opportunity in Hayward.
Property Size8,750 SF
Lot Size0.57 Acres
Price / SF$371.43
Days on Market348
Property Features for 24471 Mission Blvd
General Information
Standard status
Active
Size
8,750 SF
Lot size
0.57 Acres
Property subtype
Mixed Use, Retail
Zoning
MB-CN
Occupancy
62%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$116,681
Building Details
Year Built
1960
Units
7
Tenancy
Multi
Listing Agency:
Transwestern
Listed By:
CJ Brill · License #02073511
Source:
Crexi
Added: Sep 9, 2025
Changed: Aug 8
Last Checked: Aug 21 at 9:42AM
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 Transwestern
Investment Insights
Based on property information with market context.
This 8,750 square foot strip center is available for sale. Situated on 0.57 acres of land along Mission Boulevard in Hayward, the seven-unit center is currently 62% leased. The majority of tenants operate under month-to-month leases, presenting a value-add opportunity or potential for owner-user occupancy. The mixed-use zoning allows for potential redevelopment of up to 19 units. The property benefits from high visibility and traffic counts on Mission Boulevard, a major retail and commuter corridor in the Bay Area. The surrounding area features a mix of national retailers, car dealerships, and new housing developments. Located in the heart of the East Bay, Hayward offers access to I-880, Hwy-92, and BART transit lines. The city is experiencing residential and commercial growth, supported by its diverse workforce and proximity to Oakland, San Francisco, and Silicon Valley.
Key Highlights
- Value‑add opportunity with lease‑up potential and rent increases.
- Redevelopment potential for up to 19 units.
- Prime location on Mission Boulevard** with high visibility.
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
$152,578
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
4.69%
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%
$3,051,560
$3.1M
Cap Rate 7%
$2,179,686
$2.2M
Cap Rate 9%
$1,695,311
$1.7M
Market Conditions
NOI Build-Up for 8,750 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
$262.5K $30.00/SF
− Vacancy
−$18.4K −$2.10/SF
EGI
$244.1K $27.90/SF
− OpEx
−$91.5K −$10.46/SF
NOI
$152.6K $17.44/SF
Area
Hayward, CA
Vacancy
7.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,051,560
Cap Rate 7%
$2,179,686
Cap Rate 9%
$1,695,311
Alternative Uses
Best Use
Mixed Use
$2.18M
$1.91M – $2.54M
NOI $152,578 @ 7.0% cap · market cap 4.69%
Second Best
Retail
$1.74M
$1.52M – $2.03M
NOI $121,584 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$2.70M
$2.37M – $3.16M
NOI $189,336 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 94544, CA
79,769
Population
23,990
Households
3.3
Avg Household Size
36
Median Age
27%
College-Educated
79%
High-School Grad
11.0 sq mi
ZIP Area
7,252
Density / Sq Mi
$108,358
Median Household Income
$48,926
Median Earnings
$2,339
Median Rent
$801,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - 8,750 SF strip center with value-add opportunity in Hayward.
Where is this strip mall located?
The property is located at 24471 Mission Blvd Hayward, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Value‑add opportunity with lease‑up potential and rent increases.; Redevelopment potential for up to 19 units.; Prime location on Mission Boulevard** with high visibility.
