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The Pads at Southland Mall 4 Retail Properties Offered at $16,200,000 in Hayward, CA
INVESTMENT HIGHLIGHTS
- Premier Retail Asset Fully Leased to Leading National Brands
- NNN Lease Structure Featuring Contractual Rent Increases and Multiple Renewal Options
- Significant Value Creation Potential Through Subdividing the Outparcel
- High-Performing Tenancy with Nearly $700 in Average Sales PSF
- Strategic Location Adjacent to Regionally Drawing Southland Mall
- Irreplaceable Position with Direct Exposure to I-880 and Access to Over 290,000 Vehicles Per Day
EXECUTIVE SUMMARY
Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in The Pads at Southland Mall (the “Property”), a premier Bay Area retail asset in Hayward, California.
Ideally positioned as an outparcel to Southland Mall, The Pads at Southland Mall features 25,229 square feet among four freestanding pad buildings fully leased to national restaurant tenants: Applebee’s, Panera Bread, Famous Dave’s, and Q-Pot. All leases are fully NNN with 6.4 years of weighted average lease term remaining and multiple renewal options, delivering secure and diversi?ed cash ?ow. The property bene?ts from its strategic placement next to the regionally-drawing Southland Mall, which attracts more than 8 million annual visits and ranks in the top 2% of shopping centers nationwide.
The site encompasses 6.1 acres with direct exposure to the major East Bay thoroughfare, I-880, servicing 290,000 vehicles per day. Additionally, the area offers exceptional demographics with 118,000 households and an average household income of $141,379 within five miles, supporting a robust customer base.
The Pads at Southland Mall offers an outstanding opportunity to acquire a premier retail asset with a stable, long-term income stream in a thriving Bay Area submarket.
Ideally positioned as an outparcel to Southland Mall, The Pads at Southland Mall features 25,229 square feet among four freestanding pad buildings fully leased to national restaurant tenants: Applebee’s, Panera Bread, Famous Dave’s, and Q-Pot. All leases are fully NNN with 6.4 years of weighted average lease term remaining and multiple renewal options, delivering secure and diversi?ed cash ?ow. The property bene?ts from its strategic placement next to the regionally-drawing Southland Mall, which attracts more than 8 million annual visits and ranks in the top 2% of shopping centers nationwide.
The site encompasses 6.1 acres with direct exposure to the major East Bay thoroughfare, I-880, servicing 290,000 vehicles per day. Additionally, the area offers exceptional demographics with 118,000 households and an average household income of $141,379 within five miles, supporting a robust customer base.
The Pads at Southland Mall offers an outstanding opportunity to acquire a premier retail asset with a stable, long-term income stream in a thriving Bay Area submarket.
PROPERTY FACTS
| Price | $16,200,000 | Number of Properties | 4 |
| Price / SF | $642.12 / SF | Individually For Sale | 0 |
| Cap Rate | 6.25% | Total Building Size | 25,229 SF |
| Sale Type | Investment NNN | Total Land Area | 24.40 AC |
| Status | Active |
| Price | $16,200,000 |
| Price / SF | $642.12 / SF |
| Cap Rate | 6.25% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 25,229 SF |
| Total Land Area | 24.40 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 24177 Southland Dr, Hayward, CA 94545 | Retail | 8,035 SF | 1968 | - |
|
Applebee's
24041 Southland Dr, Hayward, CA 94545 |
Retail | 6,504 SF | 1964 | - |
|
Famous Daves
790 W Winton Ave, Hayward, CA 94545 |
Retail | 6,150 SF | 1964 | - |
|
Panera Bread
24133 Southland Dr, Hayward, CA 94545 |
Retail | 4,540 SF | 1968 | - |
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