car wash/ development opportunity in lennox...car wash/ development opportunity in lennox area...

Brett Lyon | [email protected] CAR WASH/ DEVELOPMENT OPPORTUNITY IN LENNOX

10709 Hawthorne BlvdLennox, CA 90304

Car Wash/ DevelopmentOpportunity in Lennox

INVESTMENT SUMMARY

Investment Overview

Regional Map

AREA OVERVIEW

Local Map

City Overview

County Overview

Aerial Map

PROPERTY DESCRIPTION

Property Details

3D Map

FINANCIALS

Offering Summary

Net Income Statment

Tenant Profiles

Rent Roll

Lease Abstracts

Expense Recovery Reconciliations

COMPARABLES

Sales Comparable Map

Sales Comparables

Leasing Comparable Map

Leasing Comparables

On Market Comparable Map

On Market Comparables

EXCLUSIVELY MARKETED BY :

Lyon Stahl Investment Real Estate

Brett [email protected]

Woody [email protected]

Car Wash/ Development Opportunity in Lennox

Investment Summary


The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.

Investment Summary$6,900,000

7.75%$535,066.75

3

100.00%5,890 SF

$1,171.4830,100 Sq. Feet

PriceCap RateNOIUnitsOccupancyBuilding SizePrice per Square Foot Land Ownership Fee Simple

Investment Highlights

Incredible Development Opportunity | C-3 Zoning: Allows for an Array of●

Commercial PropertiesHighly Profitable Car Wash Business Included in the Sale - 2016 Approx.●

Gross Income: $1,175,000 | 2016 Approx. Net Income: $475,000Situated on Huge 30,100 Sq. Ft. Lot | High Traffic Volume - Over 35,000●

DailyLocated Minutes Away From New Hollywood Park Development & Future●

NFL Stadium!

Investment Description

Lyon | Stahl is proud to present 10709 Hawthorne Blvd, a highly lucrative carwash business situated on a 30,000+ SF lot in Lennox. This business currentlygenerates over $1.1 million in gross profit & $475,000 in net income from itscore operations and also receives monthly passive income from its tenants.While this property is currently being used as a car wash, it has the zoningpotential to be used for just about anything. This includes shopping centers,hotels, office spaces; virtually all types of commercial real estate! The propertyis located on a very high-traffic street in Lennox, just minutes away from thenew Hollywood Park development and future NFL Stadium! This is an idealbuy for developers, investors, or anyone looking to acquire assets in therapidly appreciating Inglewood area!


Investment Summary



Regional Map


Area Overview



Local Map


Area Overview



Area Overview

City Overview - InglewoodInglewood, CA, also known as the “City of Champions” is one of Los Angelescounty’s most historically significant cities. Since its incorporation in 1905,Inglewood has been a global business, transportation, and sports hub for allof LA county. Conveniently located near all major LA freeways, LAX, and nowthe Metro, transportation is never an issue in this centralized city. The City ofChampions received its nickname due to its long history of champion sportsteams to play in Inglewood. From the Lakers, to the Rams, and now thenewest introduction of the Chargers, we can expect to see the Championmentality rejuvenate this city’s winning climate.

Reconstruction PlansInglewood has long been awaiting its opportunity to shine, and in recentyears,the city has been preparing for huge changes. Not only are developersbuilding a $1.6 billion dollar NFL stadium & park, but there are also plans for acomplete renovation of the downtown area into a commuter friendly artsdistrict. With the influx of foot traffic expected to drastically increase by 2020,Inglewood hopes to rejuvenate it’s downtown area into a hub for thecommunity and tourists alike. Investors are working alongside the city and thecommunity to ensure the vision is executed properly. In the words of the CityCouncil, “The City of Inglewood seeks to revitalize its Downtown into a vibrantplace for all of the people in the City to gather. It also seeks the revitalizationof the Fairview Heights station area. Finally, the TOD plans seek to encouragethe use of public transit, particularly the new Crenshaw/LAX Line that will runthrough Inglewood.”

County OverviewThe most heavily populated county in the country is Los Angeles County withapproximately 9.9 million people, including about 1 million that live inunincorporated areas of the county. The metropolis - formed by the sixneighboring counties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 million residents. LosAngeles County is home to one of the most educated labor pools in thecountry and offers a labor force of more than 4.7 million, of which more than1.5 million are college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eight states.According to the United States Conference of Mayors, Los Angeles Countyboasts a GDP among the twenty largest in the world. Los Angeles County’scontinued economic growth, in contrast to other areas of the state and nation,is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast of the California,and covers 4,061 square miles, including the San Clemente and SantaCatalina islands. The County is comprised of approximately 88 vibrant anddiverse cities hosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has a Gross DomesticProduct (GDP) of approximately $446 billion - placing it among the top 20economies in the world. The combined GDP of Los Angeles and its fivesurrounding neighboring counties places it in the top 10. California is generallyconsidered to be in the top five.


Area Overview



If Los Angeles County were its own nation, its economy would be the 18thlargest in the world. It is home to more than 244,000 businesses, with moreminority and women owned businesses than any other in the nation and is thenation’s top international trade center and manufacturing center. Los Angelesis recognized worldwide as a leader in entertainment, health sciences,business services, aerospace and international trade. Because the LosAngeles area is so large and diverse, it has something to offer to everyone.While Hollywood and the Los Angeles beach culture are part of our collectiveimage of Los Angeles, the city also has more museums than any other cityand some of the best hotels in the world are located in Los Angeles.

Over the years, Los Angeles County has developed a diverse economic base,supported by a number of Fortune 500 companies with headquarters in thearea, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTVGroup, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel,and Avery Dennison. Key factors positively impacting the region’s economicposition include increased local media production by the entertainmentindustry and a continuing expansion of import flows. Moreover, growth inaerospace, homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles' well educatedlabor pool, many universities, wonderful climate, and world class infrastructurewill enable Greater Los Angeles to continue to be a world leader in economicand cultural significance.County Highlights

Los Angeles County is the world’s 18th largest economy.●

Los Angeles part of the "Tech Coast" and is regarded as the of the main●

entrepreneurial regions of the world. It has approximately 200,000 smallbusinesses, which is twice as many small businesses as can be found in anyother region of the United States.If Los Angeles' five county area were a state, it would be the fourth largest in●

the United States.Los Angeles has more than 80 stage theaters and 300 museums, more than●

any other U.S city.


Area Overview



Aerial Map


Property Description



Property DetailsAddress 10709 Hawthorne Blvd

Lennox, CA90304

Square Footage 5,890 SFLand Area 30,100 Sq. FeetYear Built 1963Assessors Parcel Number 4036-017-026

SiteZoning LCC3YYNumber of Buildings 2Number of Stories 1


Financials



FinancialOffering Summary

Price $6,900,000Building Size 5,890 SFOwnership Fee SimpleLand Area 30,100 Sq. FeetNumber of Units 3Number of Stories 1Year Built 1963Occupancy 100.00%

$2,300,000.00$1,171.48

7.75%7.85%

$535,067

Price per UnitPrice per Square Foot Current CAP Rate Pro Forma Cap Rate NOIPro Forma NOI $541,571

FinancingLoan Type New/Proposed

Loan Amount $3,450,000

Down Payment $3,450,000

Interest Rate 3.70%

Amortization Period 30 Years

Annual Payment $190,557


Financials



Net Income Statement

Current AnnualIncome

Proforma AnnualIncome

REVENUESGross Potential Rent $45,996 $52,500

Effective Scheduled Rent 45,996 52,500

Business Gross Income 1,172,538 1,172,538Additional Income 4,800 4,800

Effective Gross Income $1,223,334 $1,229,838

OPERATING EXPENSESReal Estate Taxes 86,250 86,250Insurance 53,080 53,080Advertising and Promotion 2,584 2,584Alarm/Security 1,543 1,543Automobile Expense 112 112Bank Charges and Fees 14,069 14,069Supplies and Cleaning 97,441 97,441Damages 550 550Donations 58 58Dues and Subscriptions 1,523 1,523License and Permits 936 936Meals and Entertainment 171 171Outside Services 1,578 1,578Payroll 418,499 418,499Postage 52 52Professional Fees 9,820 9,820

TOTAL EXPENSES $688,267 $688,267

NET OPERATING INCOME $535,067 $541,571

Debt Service $190,557 $190,557NET CASH FLOW AFTER DEBT SERVICE $344,510 $351,014

Principal Reduction $63,985 $63,985TOTAL RETURN 11.84% 12.03%Expenses Per SF $116.85 $116.85% of EGR 56.26% 55.96%


Financials



Rent Roll

Unit Information Lease Rental Rates

Unit No Unit TypeApp. SquareFootage

Status Move In DateCurrentMonthly Rent

PSFPro FormaMonthly Rent

PSF Loss to Lease

BTH - Occupied -- -- ---- $ 2,500.00 - $ 2,750.00 - $ 250.00

Unit Note: Mariscos Restaurant

BTH - Occupied -- -- ---- $ 500.00 - $ 675.00 - $ 175.00

Unit Note: Office Space

BTH - Occupied -- -- ---- $ 833.00 - $ 950.00 - $ 117.00

Unit Note: Billboard Lease

3 Units TOTALS 0 Occ:3Vac:0 $3,833.00 $4,375.00 $542.00

CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should notbe made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property (“Property”). The information in this Memorandumhas been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limitedto the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmentalrequirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence orabsence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant or any tenant’s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all- inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information andan opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, marketconditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough duediligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/or to terminate discussions at any time with or without notice.The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’sobligations therein have been satisfied or waived.

Exclusively Marketed By:

Lyon Stahl Investment Real Estate

Lyon Stahl

310.425.9838

[email protected]

car wash/ development opportunity in lennox...car wash/ development opportunity in lennox area...

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