Union City Warehouse For
For Sale
$9,450,000
4700 Horner St, Union City, CA 94587
22,000 square foot warehouse with secured yard in Union City.
Property Size60,648 SF
Price / SF$429.55
Days on Market109
Property Features for 4700 Horner St
General Information
Standard status
Active
Size
60,648 SF
Property subtype
Industrial
Building Details
Building Size
60,648 SF
Year Built
1974
Listing Agency:
Newmark | Oakland
(925) 818-9337
Listed By:
Nathan Vance · License #CalDRE #02039163
(925) 818-9337
Source:
Lee-associates
Added: May 14
Changed: Aug 26
Last Checked: Aug 29 at 5:53AM
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 Newmark | Oakland
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 22,000 square foot warehouse. The property includes seven grade-level doors and a fenced, secured concrete yard. It has a clear height ranging from 20 to 24 feet and is fully sprinklered. The electrical capacity is 1,000 amps at 277/480 volts (verification recommended). Buildings B and C are currently leased to Cal Pack Crating until October 31, 2026. The property is available now.
Key Highlights
- Fenced and Secured Concrete Yard
- Benefit from 20’-24’ Clear Height
- Features Seven (7) Grade‑Level Doors
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
$335,702
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
3.55%
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%
$6,714,040
$6.7M
Cap Rate 7%
$4,795,743
$4.8M
Cap Rate 9%
$3,730,022
$3.7M
Market Conditions
NOI Build-Up for 22,000 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
$422.4K $19.20/SF
− Vacancy
−$27.5K −$1.25/SF
EGI
$394.9K $17.95/SF
− OpEx
−$59.2K −$2.69/SF
NOI
$335.7K $15.26/SF
Area
Alameda County, CA
Vacancy
6.50%
Lease Rate
$19.20 /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%
$6,714,040
Cap Rate 7%
$4,795,743
Cap Rate 9%
$3,730,022
Alternative Uses
Best Use
Warehouse
$4.80M
$4.20M – $5.60M
NOI $335,702 @ 7.0% cap · market cap 3.55%
Second Best
Industrial
$3.76M
$3.29M – $4.39M
NOI $263,340 @ 7.0% cap · market cap 2.79%
Theoretical Best
Retail
$100.30M
$87.76M – $117.01M
NOI $7,020,783 @ 7.0% cap · market cap 74.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94587, CA
70,121
Population
21,923
Households
3.2
Avg Household Size
40
Median Age
45%
College-Educated
87%
High-School Grad
19.6 sq mi
ZIP Area
3,578
Density / Sq Mi
$137,194
Median Household Income
$66,405
Median Earnings
$2,713
Median Rent
$1,058,200
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?
Warehouse - 22,000 square foot warehouse with secured yard in Union City.
Where is this warehouse located?
The property is located at 4700 Horner St Union City, CA.
What is the asking price?
The asking price for this property is $9,450,000.
What are key features of this property?
This property features: Fenced and Secured Concrete Yard; Benefit from **20’-24’ Clear Height**; Features **Seven (7) Grade‑Level Doors**
