2468 Whipple Road
Hayward, CA 94544 ·
47,613 SF · Industrial For Sale
Shurgard Storage Center
|Building Size||47,613 SF||No. Stories||2|
|Property Sub-type||Self/Mini-Storage Facility||Year Built||1983|
|Property Use Type||Investment||Lot Size||2.48 AC|
|Listing ID: 13886841||Date Created: 03/25/2004||Last Updated: 07/14/2004|
Bancap Self Storage Group, Inc. is pleased to present this first class self storage investment opportunity in Hayward, California. Shurgard Storage Center offers an outstanding opportunity of a stabilized facility, strong market area and upside potential.
This investment is offered for $5,200,000 for the self storage facility. The facility is a 9.0% cap rate based upon the proforma income and expenses. The 9.0% cap rate would be achieved by raising the current occupancy as outlined in the Proforma Unit Mix & Income Schedule. The facility is currently 90% physically occupied as of February 2004.
The facility is offered to the investor $5,200,000 cash, cash to new financing.
Shurgard Storage Center is located at 2468 Whipple Road. This facility is in good condition. The property was built in 1983. The property currently consists of approximately 47,613 net rentable square feet of self storage space currently demised into 446 self storage units and 46 R.V. Spaces
The self storage facility is located in the City of Hayward on Whipple Road directly off of Highway 880. As of April 2000, the daily traffic count was at 33,700 cars per day and recently a Target store just opened up on the north side of Whipple Rd. The City of Hayward (population 144,304) is located in Alameda County just 26 miles north of San Jose and 14 miles south of Oakland at the heart of the Bay Area. Hayward is serviced by an extensive network of freeways, bus lines, two BART stations, an executive airport and has easy access to San Francisco, Oakland and San Jose. Hayward is the central hub of the Bay Area.
Construction of the two buildings are wood frame with an attractive stucco exterior above a concrete slab. The roof is a standing seam metal roof. The exterior doors are metal and the interior doors are wood swing.
- Institutional Quality
- 90% Occupied
- 446 Self Storage Units & 46 R.V. Spaces- Potential for Expansion
- 47,613 square feet
- 9.0% Cap Rate on Proforma
- Excellent Location- just off of Highway 880 & next to Target
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