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29113712
29113713

24041–24177 Southland Drive and 790 W Winton Avenue, Hayward, CA 94545

AS
CA 02211367
JLL - San Francisco, California
EK
CA 01896107
JLL - San Francisco, California
JC
SL3541410
JLL - Irvine (Orange County), California
MM
IL IL 475.189943
JLL Chicago | Americas Headquarters
Listed by JLL - San Francisco, California, JLL - Irvine (Orange County), California, JLL Chicago | Americas Headquarters
$16,200,000
151 days on market
Updated 55 days ago

The Pads at Southland Mall

Details
APN 442-10-8
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 26,229
Net Rentable (SqFt) 25,229
Cap Rate 6.25%
NOI $1,012,412
Occupancy 100%
Tenancy Multi
Brand/Tenant Panera Bread, Applebee's (+2)
Lease Type NNN
Remaining Term 6
Price per SqFt $618
Buildings 4
Stories 1
Acreage 6.100
Parking Spaces 12.60 per 1,000 sq ft
Investment Type Core
Sale Condition For sale by owner

High Performing Single-Tenant NNN Pads in Hayward, CA

Marketing description

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 diversified cash flow. The property benefits 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.

Investment highlights

  • Premier Retail Asset Fully Leased to Leading National Brands

  • High-Performing Tenancy with Nearly $700 in Average Sales PSF

  • NNN Lease Structure Featuring Contractual Rent Increases and Multiple Renewal Options

  • Strategic Location Adjacent to Regionally Drawing Southland Mall

  • Significant Value Creation Potential Through Subdividing the Outparcel

  • Irreplaceable Position with Direct Exposure to I-880 and Access to Over 290,000 Vehicles Per Day

  • Affluent Demographics Characterized by High Incomes & Robust Consumer Spending

Listing Contacts

AS
CA 02211367
JLL - San Francisco, California
EK
CA 01896107
JLL - San Francisco, California
JC
SL3541410
JLL - Irvine (Orange County), California
MM
IL IL 475.189943
JLL Chicago | Americas Headquarters
Listed by JLL - San Francisco, California, JLL - Irvine (Orange County), California, JLL Chicago | Americas Headquarters

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,012,412.00
$84,367.67/mo

Valuation Metrics

0
DSCR
6.25%
Cap Rate
6.25%
ROI

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Additional Information

Name
Andrew Spangenberg
License
02211367
Brokerage Phone
415-395-4900
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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