440 Watt Dr 45,300 SF Industrial Building Fairfield, CA 94534 $5,000,000 ($110.38/SF) 4.54% Cap Rate

Marcus & Millichap has been selected to exclusively market for sale 440 Watt Drive in Fairfield, CA. This well-located value-add investment property has been leased to the same tenant since 1995, and is being offered well below replacement cost at only $110.37 per square foot, far below direct comparables in the area. The tenant's current lease is set to expire in April, 2028 (with no options to renew) and is currently at $0.58 per square foot Modified Gross, approximately half the market rent achievable by the property, allowing value-add investors near-term opportunity to reposition the asset, or sell the property to an owner-user at a significantly higher price.
440 Watt Drive consists of a concrete tilt-up industrial warehouse totaling approximately 45,300 square feet on a ±2.19 Acre lot. The property has 1,200 Amps of power, 20’7” clear heights, five dock positions, and two grade-level doors. The fire sprinkler system was upgraded in 2019 to allow for high bay storage. The property’s irreplaceable location at the junction of I-80, I-680, and Hwy-12 provides tenants ease of access to Napa, San Francisco, and Sacramento and offers tenants an affordable alternative to industrial space in Napa County, San Francisco, and the East Bay. Located west of the I-80 truck scales, logistics companies delivering to Napa and the Bay Area minimize windshield time for drivers and avoid DOT inspections on their route.
This offering represents an opportunity to acquire a high quality concrete-tilt building with a stable tenant in an excellent location, all substantially below replacement cost.
Property must be purchased together with adjacent building (490 Watt Drive). Please contact broker for OM and details.