Stratford Village Retail Center
CAP Rate: Call for the Updated CAP Rate | Rentable SF: 40,852 | Price/Rentable SF: $317 | Lot Size: 2.95 AC | Year Built: 2003
Dynamic, Under-served Location
Strong Tenant Profile 57% credit tenants
Four buildings each on separate parcels May be financed individually
100% leased with diverse service-oriented businesses
Well-located with access to Oakland, San Francisco, and Palo Alto via I-880
Impeccably maintained by original developer
Strong daily automobile count of 251,000 VPD @ Industrial Parkway West & I-880
Tremendous frontage of 832 on Industrial Parkway West
Convenient parking in front of all four buildings
The subject property, Stratford Village Retail Center, is located on Industrial Parkway West in Hayward, California and is comprised of four retail buildings totaling a combined rental area 40,852 SF. Three of the buildings were built on separate individual parcels in 2004 of concrete tilt-up construction and are currently 100% occupied by 13 individual tenants. The Starbucks building which was built in 2003 is also on its own parcel and occupied by four tenants. The property has a dynamic location just 0.3 miles from I-880, the primary North & South freeway in San Francisco’s East Bay subregion. Its proximity gives tenants and patrons quick access to Silicon Valley, Oakland, & Palo Alto. Travel time to downtown San Francisco is 45 mins (32 mi), 30 mins t o downtown Oakland (23 mi), 25 minutes to San Jose (24.5 mi), 30 minutes to Silicon Valley (26 mi), and 25 minutes (16.5 mi) to Palo Alto by way of the Dumbarton Bridge. Hayward has a 2016 population of 158,937, a healthy 10% increase from 2014. At 64 square miles in size, Hayward is the sixth largest city in the Bay Area and the third largest in Alameda County. The estimated 2017 median household income is $86,976, 54.5% higher when compared to the US average of $56,286.
Stratford Village Retail Center has been meticulously maintained by its original developer since its construction and a majority of the tenants have strong tenure at the property. The lease rates are below market creating built-in upside in value. With little retail competition in the area, this opportunity provides an investor with a low-risk and predictable return while still benefiting from the general value appreciation of infill Bay Area real estate.