Renovated Two-Story Office
For Sale
Contact for pricing
937 A ST, Hayward, CA 94541
Renovated in 2026 with all permits approved.
Property Size7,546 SF
Price / SF$278.29
Days on Market11
Property Features for 937 A ST
General Information
Standard status
Active
Size
7,546 SF
Property subtype
Office
Zoning
Downtown Main Street DT MS
Lease Type
NNN
Building Details
Year Built
1961
Year Renovated
2026
Buildings
1
Stories
2
Units
1
Listing Agency:
The Ivy Group
Listed By:
Tim Vi Tran, SIOR, CCIM · License #CA 01526603
Source:
Crexi
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 22 at 11:26AM
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 The Ivy Group
Investment Insights
Based on property information with market context.
This two-story office building contains 7,546 square feet and was originally constructed in 1961. The property underwent renovation in 2026, with all permits approved, providing an updated commercial building in downtown Hayward.
Located at 937 A St in Hayward, California, the property carries Downtown Main Street DT MS zoning. Its office-building configuration and central downtown setting support a range of professional commercial applications consistent with the existing property classification.
Located at 937 A St in Hayward, California, the property carries Downtown Main Street DT MS zoning. Its office-building configuration and central downtown setting support a range of professional commercial applications consistent with the existing property classification.
Key Highlights
- 7,546‑square‑foot office building
- Two‑story commercial configuration
- Renovated in 2026
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
$118,035
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
5.62%
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%
$2,360,700
$2.4M
Cap Rate 7%
$1,686,214
$1.7M
Cap Rate 9%
$1,311,500
$1.3M
Market Conditions
NOI Build-Up for 7,546 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
$199.2K $26.40/SF
− Vacancy
−$41.8K −$5.54/SF
EGI
$157.4K $20.86/SF
− OpEx
−$39.3K −$5.21/SF
NOI
$118.0K $15.64/SF
Area
Hayward, CA
Vacancy
21.00%
Lease Rate
$26.40 /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%
$2,360,700
Cap Rate 7%
$1,686,214
Cap Rate 9%
$1,311,500
Alternative Uses
Best Use
Office B
$1.69M
$1.48M – $1.97M
NOI $118,035 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,283 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,250
Businesses Nearby
Explore this area
Business Placement
Demographics for 94541, CA
69,736
Population
23,217
Households
3
Avg Household Size
36
Median Age
30%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
9,298
Density / Sq Mi
$106,556
Median Household Income
$52,023
Median Earnings
$2,229
Median Rent
$781,900
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?
Office building - Renovated in 2026 with all permits approved.
Where is this office building located?
The property is located at 937 A ST Hayward, CA.
What is the asking price?
The asking price for this property is $2,099,999.
What are key features of this property?
This property features: 7,546‑square‑foot office building; Two‑story commercial configuration; Renovated in 2026
