33439 Western Ave Union City, CA 94587
- Warehouses
- 18,528 SF
- 1.74 lot acres
Current Use by Public Records
- Eurofins MET Labs Union City / Engineering Consultant / Certification Agency
Property Details for 33439 Western Ave
- Year built
- 1979
- Construction
- TILT-UP CONCRETE
- Lot size
- 1.74 lot acres
- Property size
- 18,528 SF
- Property type
- Warehouses
- APN
- 475-100-34
- APU
- 47510034
Description
This exceptional investment opportunity presents a single-tenant, net-lease industrial property located at 33439 Western Ave, Union City, CA 94587, within Alameda County. The property, encompassing 18,528 square feet on a 1-acre lot, is currently leased to Westpak, a credit-rated tenant with a corporate guarantee, under a 10.5-year lease commencing September 30, 2024, and expiring March 30, 2035. The lease includes annual rent bumps of 4%. The building, constructed in 1999, features 18-foot ceilings, two loading docks, and is zoned for light industrial use. The property boasts a strong net operating income (NOI) of $522,500, resulting in an attractive 6.00% capitalization rate. The asking price is $8,700,000, translating to a price per square foot of $469.56. The property is suitable for distribution, research & development, and manufacturing uses. This is a rare opportunity to acquire a stable, long-term net lease investment with a high-quality tenant in a desirable location within the San Francisco Bay Area. The property includes one building, one story, and is a single-tenant occupancy. APN is 475-100-34. The lease includes one option to renew. The property is not a ground lease.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $485,000
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Location Insight
- Map
- Local Demand
- City
- Union City
- County
- Alameda
- State
- California
- Longitude
- -122.034
- Latitude
- 37.595
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
