5044 Peabody Rd Fairfield, CA 94533-6553

Property Details for 5044 Peabody Rd

Lot size

4.75 lot acres

Property type

Industrial properties

APN

0166-080-040

APU

166080040

Description

This 9.75-acre industrial property in Fairfield, CA (5044 Peabody Rd, 94533), offers a unique blend of immediate income and long-term redevelopment potential. Currently operating as a successful RV and boat storage facility (96% occupied as of July 2024) and a leased outdoor storage yard, the property generates a substantial gross income of $567,000 annually and a net operating income exceeding $450,000. The existing tenants include a landscape supply company, paying $14,500 per month plus 1.5% of gross sales, and a caretaker residing on-site for a monthly rent of $1,200 (with offsets). The RV and boat storage portion alone brings in $30,000 in gross effective rent monthly. Average in-place rental rates are $0.27/SF for RV & Boat rentals, $0.72/SF for containers, and $0.14/SF for the outdoor yard. The property's location near the Fairfield-Vacaville Amtrak Station makes it ideally suited for future residential redevelopment, as outlined in the area's long-term development plan, which envisions a mix of mid-density and mixed-use residential construction. The current operating permit extends through 2030. The asking price is $6,100,000, representing a 7.30% cap rate. The land value is estimated at $13-$14.5 per square foot. This presents a compelling investment opportunity with both stable current income and significant upside potential through redevelopment. The property includes approximately 5 acres used for Sun-Ray RV & Boat Storage and 4.75 acres leased to three tenants. There's also the option to add more containers (buyer to verify with the city).

Location Insight

City

Fairfield

County

Solano

State

California

Longitude

-121.968

Latitude

38.2919

CBSA code

46700

CBSA name

VALLEJO-FAIRFIELD, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments