cbc - offering memorandum (p) · cbcw orldwide.c om real estate solutions mojave plaza $1,900,000...

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REAL ESTATE SOLUTIONS

MOJAVE PLAZA$1,900,000

14515 Mojave Drive #AVictorville, CA 92394

BUILDING AREA6,429 SF

OFFICE

Kyle [email protected] #02061917

Nick Di [email protected] #00875137

©2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Real Estate Solutions. All rightsreserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marksowned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell BankerCommercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Eachoffice is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should beindependently verified before any person enters into a transaction based upon it.

COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000

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14515 Mojave Drive #A , Victorville, CA 92394

MOJAVE PLAZA

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Nick Di [email protected] #00875137 REAL ESTATE SOLUTIONS

CONFIDENTIALITY AGREEMENT

This offering has been prepared solely for informational purposes. It is designed to assist a potentialinvestor in determining whether it wishes to proceed with an in-depth investigation of the subjectproperty. While the information contained herein is from sources deemed reliable, it has not beenindependently verified by the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptionsconsidered reasonable under the circumstances. No representations or warranties, expressed orimplied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subjectto modification or withdrawal. The contents herein are confidential and are not to be reproducedwithout the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALLFAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/orafter contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspectand investigate the Property and all improvements thereon, either independently or through agents ofthe buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, toreject all offers, and to accept any offer without regard to the relative price and terms of any other offer.Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated ina formal written contract of purchase and sale to be prepared by the Seller and executed by bothparties; and (iii) approved by Seller and such other parties who may have an interest in the Property.Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase andsale, which contract shall supersede prior discussions and writings and shall constitute the soleagreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property andall other expenses, professional or otherwise, incurred by them.

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04 PROPERTY INFORMATION

Property Overview

Property Photos

07 FINANCIAL ANALYSIS

Income & Expenses

Financial Summary

10 LOCATION INFORMATION

Regional Map

Location Maps

Aerial Maps

14 DEMOGRAPHICS

Demographics Map &Report

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PROPERTYINFORMATIONSECTION 1

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OFFERING SUMMARY

Sale Price: $1,900,000

Cap Rate: 6.28%

NOI: $119,402

Lot Size: 0.9 Acres

Building Size: 6,429 SF

Price / SF: $295.54

PROPERTY OVERVIEW

Located on the SouthEast signalized corner of Mojave Drive and Elevado Road inthe City of Victorville within San Bernardino County. The subject propertyincludes a +/- 6,492 Sq. Ft. Multi-Tenant Retail building consisting of six (6) suitessituated on a 39,011 Sq. Ft. (0.9 Acre) parcel. Fully (100 %) occupied with adiverse tenant mix on current leases. Shadow Anchored by Jack in the Box andRite Aid.

LOCATION OVERVIEW

Located in Southern California at the high-point between Los Angeles and LasVegas, Victorville is the leading city for both industry and retail in the High Desertregion. Victorville is a growing, vibrant community that is home to approximately125,000 residents and some of the area's largest employers. Clean air, abundantmountain vistas, family-friendly recreational activities, spectacular sunsets andbreathtaking night skies entice locals and visitors alike to fall in love with our City.We're within a few hours of SoCal beaches, National Parks, mountain retreats, andother major attractions; and Ontario International Airport is less than an houraway.

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FINANCIALANALYSISSECTION 2

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INCOME SUMMARY

Base Rent $117,606

Recoverable Expenses (NNN Fees) $53,543

Gross Income $171,150

EXPENSE SUMMARY

CAMS $7,545

Utilities $5,808

Property Taxes $22,500

Insurance $5,220

Management Fees $8,400

Fire Alarm $2,274

Gross Expenses $51,747

Net Operating Income $119,402

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INVESTMENT OVERVIEW

Price $1,900,000

Price per SF $295.54

CAP Rate 6.28%

Cash-on-Cash Return (yr 1) 4.34 %

Total Return (yr 1) $69,766

Debt Coverage Ratio 1.3

OPERATING DATA

Gross Scheduled Income $117,606

Other Income $53,543

Total Scheduled Income $171,150

Gross Income $171,150

Operating Expenses $51,747

Net Operating Income $119,402

Pre-Tax Cash Flow $27,778

FINANCING DATA

Down Payment $640,000

Loan Amount $1,260,000

Debt Service $91,624

Debt Service Monthly $7,635

Principal Reduction (yr 1) $41,988

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LOCATIONINFORMATIONSECTION 3

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Victorville, CA

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DEMOGRAPHICSSECTION 4

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POPULATION 1 MILE 3 MILES 5 MILES

Total population 6,052 54,865 127,685

Median age 24.7 26.8 27.5

Median age (Male) 23.7 25.5 26.1

Median age (Female) 26.2 28.0 29.3

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 1,751 15,741 36,029

# of persons per HH 3.5 3.5 3.5

Average HH income $50,509 $57,291 $58,854

Average house value $256,857 $247,765 $244,862

* Demographic data derived from 2010 US Census

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cbc - offering memorandum (p) · cbcw orldwide.c om real estate solutions mojave plaza $1,900,000...

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