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TRUCKEE MULTI-TENANT OFFICE17400 Northwoods Blvd • Truckee, CA96161
Offering Memorandum
Drone Video
NO N - E N D O RS E ME NT A ND DI S CL A I ME R NO TI CE
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap andshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or anytenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters andmakes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of theinformation set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name isnot intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, orcommercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
TRUCKEE MULTI-TENANT OFFICE TRUCKEE, CAACT ID Z0020454
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INVESTMENT
OVERVIEW
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17400 NORTHWOODS BLVD
INVESTMENT HIGHLIGHTS
Classic Mountain Style Construction Multi-Tenant Office Building Recent Major Improvements Completed Upside in Recapturing Expenses Located Near Donner Lake Rare Opportunity to Purchase an Office Building in Truckee
OFFERING SUMMARYINVESTMENT OVERVIEW
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire a multi-tenant office building, whichconsists of 11 traditional office suites. The subject property has two separate two story buildings that both provide a tremendous amountof surface parking.
17400 Northwoods Blvd represents an opportunity to acquire a classic log style construction, well-maintained office building located in thescenic city of Truckee, CA. Acquisition of the asset will provide an investor with immediate cash-flow and a well-located office building.Additional upside can be attained through recapturing expenses as current operating expenses are paid by the landlord. As of September2018, the office building is 100 percent occupied.
On the California-Nevada border, Truckee-Lake Tahoe’s scenic mountain beauty is perfect for romantic getaways and outdoor excitement.Lake Tahoe is America’s largest alpine lake, with beautiful blue water surrounded by 70 miles of gorgeous shoreline. Donner Lake offers apublic beach, and Donner Memorial State Park has campsites and trails for hiking, biking, horseback riding and rock climbing. Boca Damand Reservoir features magnificent fishing, with rainbow, brook, and brown trout, plus Kokanee Salmon.
Property Photos: Click Here
All property tours should be schedule through the listing agent. We ask that you do not disturb any of the tenants.
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17400 NORTHWOODS BLVD
FRONT & BACK PHOTOS
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17400 NORTHWOODS BLVD
INTERIOR PHOTOS
17400 NORTHWOODS BLVD
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DOWNTOWN ATTRACTIONMAP
17400 NORTHWOODS BLVD
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FRONT & BACK PHOTOS
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17400 NORTHWOODS BLVD
FINANCIAL
ANALYSIS
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17400 NORTHWOODS BLVD
RENT ROLL
17400 NORTHWOODS BLVD
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SUITE TENANTSQUARE
FEETMONTHLY RENT PER SQFT
TERM BEGIN & END
INCREASESCAM PER MONTH
1 Coldwell Banker 554 $1,662 $3.00 7/1/14 - 1/31/21 2/1/20202 Coldwell Banker 880 $2,640 $3.00 3/9/11 - 1/31/21 2/1/20203 Second Home Care 230 $1,200 $5.22 5/1/17 - 1/7/204 Truckee Reservations 554 $700 $1.26 12/1/17 - 12/1/19
100 Coldwell Banker 2,599 $7,817 $3.00 1/1/11 - 1/31/21 2/1/2020 $353101 Timberline Construction 229 $500 $2.18 6/1/16 - 11/30/19 $100102 David Burtt 172 $350 $2.03 11/16/15 - 6/30/19102 The Spa Guy 237 $500 $2.11 4/1/16 - 4/1/19 $150103 Nicole Folks 242 $500 $2.07 8/1/17 - 8/1/19 $100104 Hudson & Day 229 $500 $2.18 10/1/18 - 2/1/19105 Alison Bermant 190 $500 $2.63 1/15/07 - 11/15/19 $100
TOTALS 6,116 $16,869 $803
SECOND FLOOR
FINANCIAL ANALYSIS
17400 NORTHWOODS BLVD
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Income Current New Ownership
Base Rental Revenue $202,428 $202,428Base Rental Abatements $0 $0Expense Reimbursement $9,635 $31,742*Effective Gross Income $212,063 $234,170
Expenses Current New Ownership
Real Estate Taxes $31,250 $31,250Repairs & Maintenance $3,000 $3,000Insurance $7,000 $7,000Utilities $22,107 $22,107Total Operating Expenses $63,357 $63,357Net Operating Income $148,706 $170,813*$22,107 Utility Expense + $9,635 CAM = $31,742
Purchase Price $2,500,000Year One Cap Rate 6.0%New Ownership Cap Rate 6.8%
Total Square Feet Leased 6,116Current Occupancy 100%
Reporting Period Start 1-Jun-19
OFFERING
PROPERTY SUMMARY
ANALYSIS START
Sonny GonellaSenior AssociateSan Francisco OfficeTel: (415) 625-2137Fax: (415) [email protected]: CA 01970225
Evan RoseSan Francisco OfficeTel: (415) 625-2152Fax: (415) [email protected]: CA 01957217