29605 Pacific St Hayward, CA 94544
- Warehouses
- 5,100 SF
- 1.11 lot acres
Current Use by Public Records
- Hayward Pacific Storage / Storage Facility
- U-Haul Neighborhood Dealer / Car Rental Facility
Property Details for 29605 Pacific St
- Year built
- 1961
- Construction
- WOOD
- Lot size
- 1.11 lot acres
- Property size
- 5,100 SF
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 83-453-7
- APU
- 834537
Description
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.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $940,000
- 6.5%
- $865,000
- 7%
- $805,000
-
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $1,045,000 Current use
- RETAIL STORES
- $1,480,000 Change: +41% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,400,000 Change: +34% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,375,000 Change: +32% Conversion: Difficult
- MEDICAL BUILDING
- $1,360,000 Change: +30% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Hayward
- County
- Alameda
- State
- California
- Longitude
- -122.053
- Latitude
- 37.6262
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
