Insulated Warehouse with
For Sale
Contact for pricing
2671 MCCONE AVE, Hayward, CA 94545
Warehouse space includes dock access, a drive-in door, and refrigerated storage.
Property Size53,588 SF
Price / SF$335.90
Days on Market10
Property Features for 2671 MCCONE AVE
General Information
Standard status
Active
Size
53,588 SF
Property subtype
Industrial
Lease Type
NNN
Warehouse & Industrial
Clear Height
25 ft
Sprinkler System
Yes
Additional Details
Asking Price
$18,000,000
Building Details
Buildings
1
Units
1
Tenancy
Multi
Building Size
53,588 SF
Listing Agency:
Lee & Associates - Oakland
(925) 895-8008
Listed By:
Jesse Lucas · License #CA 01264756
Source:
Crexi
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 21 at 6:51AM
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 Lee & Associates - Oakland
Investment Insights
Based on property information with market context.
The property is a fully insulated, sprinklered warehouse with 32,535± SF available, including 2,500± SF of downstairs office space. The available area provides nine dock doors, one drive-in door, 22' to 25' clear height, and a 2,500± SF freezer within the warehouse. Upstairs space is not included in the stated available square footage.
The building contains 53,588 SF in total. A 21,053 SF portion is occupied by Airgas, while the available area offers substantial warehouse and office functionality within the larger facility.
The building contains 53,588 SF in total. A 21,053 SF portion is occupied by Airgas, while the available area offers substantial warehouse and office functionality within the larger facility.
Key Highlights
- 32,535± SF available within a 53,588 SF building
- 2,500± SF downstairs office area; upstairs space excluded from stated available SF
- Nine dock doors and one drive‑in door
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
$686,991
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
3.82%
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%
$13,739,820
$13.7M
Cap Rate 7%
$9,814,157
$9.8M
Cap Rate 9%
$7,633,233
$7.6M
Market Conditions
NOI Build-Up for 53,588 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
$855.3K $15.96/SF
− Vacancy
−$47.0K −$0.88/SF
EGI
$808.2K $15.08/SF
− OpEx
−$121.2K −$2.26/SF
NOI
$687.0K $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%
$13,739,820
Cap Rate 7%
$9,814,157
Cap Rate 9%
$7,633,233
Alternative Uses
Best Use
Warehouse
$9.81M
$8.59M – $11.45M
NOI $686,991 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.57M
$14.49M – $19.33M
NOI $1,159,559 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25 ft
Clear height
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Well-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- ReadySpaces — 25509 Industrial Blvd, Hayward, CA 94545
- Hayward RV Storage — 3636 Depot Rd, Hayward, CA 94545
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse space includes dock access, a drive-in door, and refrigerated storage.
Where is this warehouse located?
The property is located at 2671 MCCONE AVE Hayward, CA.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: 32,535± SF available within a 53,588 SF building; 2,500± SF downstairs office area; upstairs space excluded from stated available SF; Nine dock doors and one drive‑in door
