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    29605 Pacific St Hayward, CA 94544

    Sponsored
    For Sale
    $6,300,000

    Prime Hayward location, high ROI potential.

    Property size:
    61,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional value-add self-storage opportunity in Hayward, CA, presents a compelling investment prospect. The property, known as Hayward Pacific Mini Storage, comprises 225 units across eight single-story buildings totaling 61,700 net rentable square feet on a 2.66-acre lot. Built in 1969, the facility boasts convenient drive-up access, 24-hour camera surveillance, and a secure gated entrance, enhancing tenant appeal and security. Currently operating at 88% occupancy (as of June 1, 2024), the property generates a current NOI of $380,819, translating to a 6.04% cap rate. Pro-forma projections indicate a significant increase in NOI to $427,905 and a 6.79% cap rate. The asking price is $6,300,000, representing a price per unit of $28,000 and a land value of $54.37 per square foot. The property's strategic location in Hayward provides easy access to major employment centers in Oakland, the Peninsula, Tri-Valley, Silicon Valley, and San Francisco, further enhanced by proximity to Interstate 880, Interstate 580, the San Mateo-Hayward Bridge, and BART stations. Zoned IL, this asset offers significant upside potential for investors seeking a strong performing, well-located self-storage facility in a thriving Bay Area market. The property's current mom-and-pop ownership structure presents an opportunity for streamlined management and operational improvements.

    Property Features for 29605 Pacific St

    General Information

    Property type
    Self storage facilities
    Square Feet
    61,700 SF
    Class
    C
    Lot Size
    115,870 SF

    Building Details

    Year Built
    1969
    Buildings
    8
    Stories
    1
    Units
    225

    HighLights

    • $6,300,000 asking price for a value‑add, Class C self‑storage facility.
    • 61,700 square feet, 225 units, 88% occupancy.
    • 6.04% current cap rate, 6.79% pro‑forma cap rate.
    • $380,819 current NOI, $427,905 pro‑forma NOI.
    • Located in Hayward, CA, on a 2.66‑acre lot, built in 1969.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hayward Pacific Storage Boat Storage Facility U-Haul Neighborhood Dealer Truck Rental Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hayward
    County
    Alameda
    State
    California
    Longitude
    -122.05278644525
    Latitude
    37.626584388261

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    FAQs

    What type of property is this?
    Self storage facility - Prime Hayward location, high ROI potential.
    Where is this self storage facility located?
    The property is located at 29605 Pacific St Hayward, CA.
    What is the asking price?
    The asking price for this property is $6,300,000.
    What are key features of this property?
    This property features: $6,300,000 asking price for a value-add, Class C self-storage facility.; 61,700 square feet, 225 units, 88% occupancy.; 6.04% current cap rate, 6.79% pro-forma cap rate.
    (408) 642-0353
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    29605 Pacific St Hayward, CA 94544
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    29605 Pacific St Hayward, CA 94544
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