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 parcels in 2003 in a concrete tilt-up style construction and are currently 100% occupied by 13 individual tenants. The Starbucks building which was built in 2002 is on its own parcel and occupied by four tenants. The property has a dynamic location just 0.3 miles from I-880, a highly trafficked North & South thoroughfare in San Francisco’s East Bay subregion which gives tenants and patrons quick access to most of the Bay Area. Travel time to downtown San Francisco is 45 mins (32 mi), 30 mins to downtown Oakland (23 mi), 25 minutes to San Jose (24.5 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 2017 median household income estimate is $86,976 compared to the US average of $56,286.
Stratford Village Retail Center has been meticulously maintained since its construction and a majority of the tenants have strong tenure at the property. The lease rates are below market creating a 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 benefitting from the general value appreciation of infill Bay Area real estate.
____ 2016 population
_____ median income
Tenants have Affordable rents
In 2017A, the population in your selected geography is 760,527 . The population has changed by 12.01% since 2000. It is estimated that the population in your area will be 761,095 five years from now, which represents a change of 0.07% from the current year. The current population is 49.23% male and 50.77% female. The median age of the population in your area is 37.5 , compare this to the Entire US average which is 37.8 . The population density in your area is 2,418.55 people per square mile.
There are currently 248,998 households in your selected geography. The number of households has changed by 9.01% since 2000. It is estimated that the number of households in your area will be 255,316 five years from now, which represents a change of 2.54% from the current year. The average household size in your area is 2.95 persons.
In 2017A, the median household income for your selected geography is $86,976 , compare this to the $Entire US average which is currently $56,286 . The median household income for your area has changed by 39.31% since 2000. It is estimated that the median household income in your area will be $100,938 five years from now, which represents a change of 16.05% from the current year.
The current year per capita income in your area is $37,545 , compare this to the $Entire US average, which is $30,982 . The current year average household income in your area is $114,098 , compare this to the $Entire US average which is $81,217 .
Race & Ethnicity
The current year racial makeup of your selected area is as follows: 35.70% White, 7.67% Black, 1.35% Native American and 34.87% Asian/Pacific Islander. Compare these to Entire US% averages which are: 70.42% White, 12.85% Black, 0.19% Native American and 5.53% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin make up 27.38% of the current year population in your selected area. Compare this to the Entire US% average of 17.88% .
In 2000, there were 142,923 owner occupied housing units in your area and there were 85,485 renter occupied housing units in your area. The median rent at the time was $919 .
In 2017A, there are 317,279 employees in your selected area, this is also known as the daytime population. The 2000 Census