For Sale
$6,100,000

5044 Peabody RdFairfield, CA 94533

9.75-Acre Flex Space, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
115
This 9.75-acre industrial property in Fairfield, CA (5044 Peabody Rd, 94533), offers a unique blend of immediate income and long-term redevelopment potential. Currently operating as a successful RV and boat storage facility (96% occupied as of July 2024) and a leased outdoor storage yard, the property generates a substantial gross income of $567,000 annually and a net operating income exceeding $450,000. The existing tenants include a landscape supply company, paying $14,500 per month plus 1.5% of gross sales, and a caretaker residing on-site for a monthly rent of $1,200 (with offsets). The RV and boat storage portion alone brings in $30,000 in gross effective rent monthly. Average in-place rental rates are $0.27/SF for RV & Boat rentals, $0.72/SF for containers, and $0.14/SF for the outdoor yard. The property's location near the Fairfield-Vacaville Amtrak Station makes it ideally suited for future residential redevelopment, as outlined in the area's long-term development plan, which envisions a mix of mid-density and mixed-use residential construction. The current operating permit extends through 2030. The asking price is $6,100,000, representing a 7.30% cap rate. The land value is estimated at $13-$14.5 per square foot. This presents a compelling investment opportunity with both stable current income and significant upside potential through redevelopment. The property includes approximately 5 acres used for Sun-Ray RV & Boat Storage and 4.75 acres leased to three tenants. There's also the option to add more containers (buyer to verify with the city).

Highlights

  • 9.75-acre industrial property in Fairfield, CA (5044 Peabody Rd, 94533) with significant redevelopment potential.
  • Currently generates $567,000 annual gross income and over $450,000 net operating income from a mix of RV/boat storage (96% occupied), outdoor storage yard, and a landscape supply company.
  • 5 acres dedicated to Sun-Ray RV & Boat Storage; 4.75 acres leased to three tenants.
  • Includes a caretaker's residence leased for $1,200 per month (with offsets).
  • Sun-Ray Landscape Supply pays $14,500 per month plus 1.5% of gross sales.
  • RV & boat storage generates $30,000 in monthly gross effective rent.

Property Details for 5044 Peabody Rd

Property type
Industrial properties, Flex space
Square Feet
10,000 SF

Location Insight

City
Fairfield
County
Solano
State
California
Latitude
38.2915936
Longitude
-121.9679772
5044 Peabody Rd, Fairfield, California

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5044 Peabody Rd
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