5044 Peabody Rd Fairfield, CA 94533

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).