Address: 1360 B St, Hayward, California, United States 94541
Type: Net Leased Auto Service
Cap Rate: 6.75%
Lease Type: Triple Net (NNN)
Annual Rent: $127,500
Net Operating Income: $127,500
Lease Term Remaining: 20 Years
Rental Increases: 10.0% Every Five Years
Options: Four (4), Five (5)-Year Options
Rentable Sq/Ft: 2,550 SF
Rent Sq/Ft: $50
Price Sq/Ft: $741
Lot Size: +/-0.38 Acres
Oil Changers, Inc. and its affiliates have developed an automotive fast oil change concept based on convenience, quality, and service. Each of the company’s no-appointment-necessary services is provided on a drive-through basis. The first Oil Changer facility was opened in Northern California in September 1986 and the organization currently consists of 34 facilities in the regions of San Francisco, San Diego, and Fresno. All Oil Changer facilities are located in major California markets because of the tremendous opportunities for growth provided by these markets.
Oil Changers, Inc. was recently acquired by Trivest Partners who is looking to grow their store count to 100 locations over the next 3 to 5 years. Since its founding in 1981, Trivest has completed more than 250 transactions, totaling in excess of $6.0 billion in value.
The subject property is strategically located in a dense retail and residential corridor. Major national retailers in the immediate area include Chase, Safeway, Wells Fargo, Citibank, Starbucks, FedEx, Provident Credit Union, Dollar Tree, Bank of America, and Dozens of Local Retail Stores. The subject property is also located less than 1 mile from the Lincoln Landing Development site, which was approved by the city in 2017, and will add 476 Apartments, 85,000 SF of Commercial Space, and a 7,000 SF Public Park.
There are more than 217,277 individuals residing within a three-mile radius of the property and approximately 350,735 individuals within a five-mile radius. The subject property is located on B street, which experiences an average daily traffic volume of 18,200 vehicles. B street intersects with Foothill Blvd., which experiences an average daily traffic count of 52,000 vehicles.
The past decade’s downtown redevelopment initiatives have resulted in housing, office and retail construction, greatly improving the quality of life for urban dwellers. In the East Bay, people enjoy cultural and recreational activities, including the symphony, an award-winning zoo, the Paramount Theater, the Oakland Museum of California, along with numerous parks. Major-league sports teams include the Oakland Athletics and Oakland Raiders, both of which play at the Oakland-Alameda County Coliseum. Oracle Arena is home to the Golden State Warriors. There are more than a dozen colleges and universities in the area, including the University of California-Berkeley and California State University, East Bay.
Broker of Record: David Nelson – License # 1716942