Hayward Flex Building For
For Sale
$895,000
2492 Technology Drive, Hayward, CA 94545
Versatile industrial condo in Hayward's Industrial Technology Corridor.
Property Size4,300 SF
Price / SF$208.14
Days on Market111
Property Features for 2492 Technology Drive
General Information
Standard status
Active
Size
4,300 SF
Property subtype
Commercial
Amenities
Assigned Spaces
Building Details
Year Built
1987
Listing Agency:
CENTURY 21 MASTERS
(650) 689-5888
Listed By:
PATRICK LAM · License #01764668
Source:
Corcoran
Added: Apr 21
Changed: Aug 8
Last Checked: Aug 8 at 7:02AM
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 CENTURY 21 MASTERS
Investment Insights
Based on property information with market context.
A 4,300 square foot flex building is available for sale, presenting an opportunity to acquire an industrial condo in Hayward's Industrial Technology Corridor. The unit features approximately 2,332 square feet of ground-floor warehouse/office space and approximately 1,968 square feet of mezzanine level. The layout is suitable for a range of uses. The property includes one ADA restroom and one grade-level roll-up door. Parking is available directly in front of the unit. The location provides access to I-880 and Highway 92, offering connectivity throughout the Bay Area. The HOA fee is $268.09 per month. This property is suited for owner-users or investors seeking a well-located asset.
Key Highlights
- Highly desirable location in Hayward's Industrial Technology Corridor
- 4,300 SQFT flex building with versatile layout
- Approximately 2,332 SQFT of ground‑floor warehouse/office space and 1,968 SQFT mezzanine
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
$55,125
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
6.16%
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%
$1,102,500
$1.1M
Cap Rate 7%
$787,500
$787.5K
Cap Rate 9%
$612,500
$612.5K
Market Conditions
NOI Build-Up for 4,300 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
$68.6K $15.96/SF
− Vacancy
−$3.8K −$0.88/SF
EGI
$64.9K $15.08/SF
− OpEx
−$9.7K −$2.26/SF
NOI
$55.1K $12.82/SF
Area
Hayward, CA
Vacancy
5.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,102,500
Cap Rate 7%
$787,500
Cap Rate 9%
$612,500
Alternative Uses
Best Use
Warehouse
$787.5K
$689.1K – $918.8K
NOI $55,125 @ 7.0% cap · market cap 6.16%
Second Best
Industrial
$648.5K
$567.5K – $756.6K
NOI $45,397 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,045 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Under-served
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 - Versatile industrial condo in Hayward's Industrial Technology Corridor.
Where is this flex space located?
The property is located at 2492 Technology Drive Hayward, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Highly desirable location in Hayward's Industrial Technology Corridor; 4,300 SQFT flex building with versatile layout; Approximately 2,332 SQFT of ground‑floor warehouse/office space and 1,968 SQFT mezzanine
