Industrial Flex Office
For Sale
$650,000
46560 Fremont Boulevard, Fremont, CA 94538
Modern flex layout with office and renovated grade-level garage area for light industrial, studio, or showroom use.
Property Size957 SF
Price / SF$679.21
Days on Market99
Property Features for 46560 Fremont Boulevard
General Information
Standard status
Active
Size
957 SF
Property subtype
Commercial/Industrial
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
1989
Listing Agency:
NestRite Realty & Development
(408) 316-9273
Listed By:
Emily Lane · License #01926790
(408) 316-9273
Source:
Exitrealty
Added: May 7
Changed: Aug 8
Last Checked: Aug 12 at 6:03AM
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 NestRite Realty & Development
Investment Insights
Based on property information with market context.
This modern industrial flex unit combines commercial office functionality with an oversized garage warehouse area. The interior includes a lobby, a separate office room, and a high open-beam ceiling with abundant natural light. The garage has been renovated with new epoxy flooring and includes a half bath described as ADA. An additional sink is also provided outside the garage area to support a bright, functional workspace. The unit is also described as having air-conditioning, newly painted interiors, and a storage space with an entry door, along with a backdoor and a grade-level roll-up garage door. Ample surrounding parking supports day-to-day operations and client access.
The property is located at 46560 Fremont Boulevard in Fremont, positioned within a business corridor surrounded by established commercial and industrial users, restaurants, and retail amenities. Access is described as convenient to I-880 and the Dumbarton Bridge, with proximity to major Silicon Valley employment centers.
With its lobby, private office, and flexible garage/warehouse space, the property is well suited for owner-users and operators seeking a clean, functional space for office, studio, showroom, light industrial, or other flex-use needs. The combination of grade-level roll-up access and renovated interior finishes supports a range of work and customer-facing setups, while the surrounding parking helps accommodate employees and visitors.
The property is located at 46560 Fremont Boulevard in Fremont, positioned within a business corridor surrounded by established commercial and industrial users, restaurants, and retail amenities. Access is described as convenient to I-880 and the Dumbarton Bridge, with proximity to major Silicon Valley employment centers.
With its lobby, private office, and flexible garage/warehouse space, the property is well suited for owner-users and operators seeking a clean, functional space for office, studio, showroom, light industrial, or other flex-use needs. The combination of grade-level roll-up access and renovated interior finishes supports a range of work and customer-facing setups, while the surrounding parking helps accommodate employees and visitors.
Key Highlights
- Year built: 1989 modern flex/commercial office/warehouse space in Fremont
- Includes large lobby, separate office room, and a renovated extra‑large high‑ceiling garage
- Garage renovation features brand new epoxy flooring, 1 half bath (ADA), and an additional exterior sink
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
$35,010
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
5.39%
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%
$700,200
$700.2K
Cap Rate 7%
$500,143
$500.1K
Cap Rate 9%
$389,000
$389.0K
Market Conditions
NOI Build-Up for 957 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
$54.1K $56.52/SF
− Vacancy
−$7.4K −$7.74/SF
EGI
$46.7K $48.78/SF
− OpEx
−$11.7K −$12.19/SF
NOI
$35.0K $36.58/SF
Area
Fremont, CA
Vacancy
13.70%
Lease Rate
$56.52 /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%
$700,200
Cap Rate 7%
$500,143
Cap Rate 9%
$389,000
Alternative Uses
Best Use
Office B
$500.1K
$437.6K – $583.5K
NOI $35,010 @ 7.0% cap · market cap 5.39%
Second Best
Industrial
$218.5K
$191.2K – $254.9K
NOI $15,293 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$592.4K
$518.3K – $691.1K
NOI $41,466 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94538, CA
66,424
Population
24,429
Households
2.7
Avg Household Size
36
Median Age
53%
College-Educated
90%
High-School Grad
16.5 sq mi
ZIP Area
4,026
Density / Sq Mi
$144,451
Median Household Income
$76,827
Median Earnings
$2,860
Median Rent
$1,104,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Modern flex layout with office and renovated grade-level garage area for light industrial, studio, or showroom use.
Where is this flex space located?
The property is located at 46560 Fremont Boulevard Fremont, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Year built: 1989 modern flex/commercial office/warehouse space in Fremont; Includes large lobby, separate office room, and a renovated extra‑large high‑ceiling garage; Garage renovation features brand new epoxy flooring, 1 half bath (ADA), and an additional exterior sink
