38491 Fremont Blvd - Self-Storage Facilities FOR SALE


Fremont, CA 94536- Glenmoor
$21,000,000 USD
650-492-0934
38491 Fremont Blvd, Fremont, CA for Sale
$21,000,000 USD
Self-Storage Facilities - FOR SALE
1/15
null | 4.29% Cap Rate

38491 Fremont Blvd
Fremont, CA 94536
Glenmoor


HIGHLIGHTS

  • Exceptional Pride of Ownership Self-Storage Facility - Investors have the opportunity to acquire a pride-of ownership asset in the heart of Fremont.
  • The property will be delivered with approved building permits to reconstruct the burned portion of the facility, offering additional cash flow.
  • Self Storage assets currently have no rent control in California giving the owner the opportunity to increase rents faster than multifamily assets.
  • The subject property is professionally managed by Extra Space Storage, the largest 3rd party REIT and an S&P 500 member with over 4,000 locations.
  • Fremont boasts close proximity to major lifestyle amenities including Downtown Fremont (1.5 mi), Pacific Commons, The Hub and Washington West.
  • Extra Space Storage enjoys easy access to major transportation corridors, transit and rail systems, and major airports.

OVERVIEW

Extra Space Storage is a stunning 568-unit self-storage facility located at 38491 Fremont Blvd in the thriving city of Fremont, California. Situated on a large parcel of land totaling 2.86 acres, the subject property was originally constructed in 1985 and has a net rentable area of approximately 49,922 square feet. The subject property consists of 568 units, with most having drive-up access for easy loading and unloading for customers. Additionally, tenants enjoy other state-of-the-art amenities such as controlled access gated entry, 24-hour closed circuit surveillance, and available moving supplies on-site. Investors can also benefit from a value-add opportunity with approved permits to rebuild the damaged portion of the property, increasing potential cash flow. Extra Space Storage is well-positioned in one of the most peaceful and tranquil cities in the Bay Area. The subject property provides convenient access to major transportation corridors including Interstate 880, Interstate 680, and the Dumbarton Bridge. The subject property presents a rare opportunity for an investor to acquire a well-situated storage facility in Central Fremont. Fremont has been the beneficiary of strong economic drivers from the local companies of Facebook, Tesla HQ, Western Digital, Lam Research, Boston Scientific, Excelitas Technologies, Solaria, Thermofisher Scientific, Arcsoft, and Seagate. The property has strong investment appeal driven by its locations in the heart of Fremont, the city's strong employment fundamentals, rapidly growing employment and housing demand, and value-add opportunity.

FOR SALE DETAILS

PRICE

$21,000,000 USD

PRICE/SF

$324 USD /SF

CAP RATE

4.29%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Extra Space Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

2.86 AC

LAND SF

124,582 SF

ZONING

C-1

APN/PARCEL ID

501-0900-018-00

ASK ABOUT THIS PROPERTY

Adam LevinLevin JohnstonMore Info
650-492-0934

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Adam LevinLevin JohnstonMore Info
650-492-0934

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.