for sale - loopnet...irvine, ca 92614 (949) 854-6600 san clemente 120 1/2 el camino real, ste. 210...
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Nicholas Chang, CCIMSenior Vice [email protected] BRE Lic. #01344844
Carey PastorSenior Vice [email protected] #01403298
Richard LeeSenior Vice [email protected] BRE Lic. #01757870
Justin KuehnSenior [email protected] BRE Lic. #01966182
Exclusive Advisors:
580 Third Street | Lake Elsinore UNIQUE 12 UNIT MULTI-TENANT INDUSTRIAL
FOR SALE
580 THIRD STREET | PROPERTY AERIAL
PROPERTY AERIALUnique 12 Unit Multi-Tenant Industrial Park
580 THIRD STREET | LOCATION MAP
LOCATION MAPUnique 12 Unit Multi-Tenant Industrial Park
BUILDING FEATURES• Unique 12 Unit Multi-Tenant Industrial Park now available for Sale.
• Fully stabilized investment with long term upside and room for increased rent growth.
• 12 Units from 1,430 SF up to 3,000 SF. Separately metered utilities.
• Under market rents create opportunity to increase Net Operating Income quickly.
• Well located property in prime path of development.
• Ideal diverse tenant mix includes warehouse distribution, manufacturing, light assembly, and service commercial applications.
• Concrete paved yard, fully refurbished roof, skylights, mechanical & electrical systems. All maintained to institutional grade standards.
• Average in place gross income of $0.927 PSF / over $192,275 per year.
• First year proforma NOI over $154,370 per year.
580 THIRD STREET | BUILDING FEATURES
580 Third StreetLake Elsinore
17,290 Square Feet
RENT ROLL
12 Units totaling 17,290 rentable square feet
Unit Rentable SFCommencement
DateTermination
DateCurrent Base Rent
PSFCAM PSF
Total Rent PSF
Total Rent+ CAM
Annualized Rent Notes
A / B 2,640 6/1/2017 5/31/2018 $0.835 $0.065 $0.900 $2,376.00 $28,512.00
C 1,430 9/1/2018 8/31/2019 $0.844 $0.065 $0.909 $1,300.00 $15,600.00 Tenant since 2017
D / E 2,860 8/1/2017 7/31/2018 $0.853 $0.067 $0.920 $2,631.00 $31,572.00 Tenant since 2007
F 1,430 6/1/2017 5/31/2018 $0.898 $0.067 $0.965 $1,380.00 $16,560.00 Tenant since 2016
G 1,430 2/1/2018 1/31/2019 $0.930 $0.070 $1.000 $1,429.90 $17,158.80 Tenant since 2007
H 1,500 10/1/2017 9/30/2019 $0.885 $0.065 $0.950 $1,425.00 $17,100.00
I / J 3,000 9/1/2017 8/31/2018 $0.855 $0.065 $0.920 $2,760.00 $33,120.00 Tenant since 2013
K 1,500 8/1/2017 7/31/2018 $0.865 $0.065 $0.930 $1,395.00 $16,740.00 Tenant since 2011
L 1,500 12/1/2017 11/30/2018 $0.803 $0.081 $0.884 $1,326.00 $15,912.00 Tenant since 2011
Total 17,290 $0.927 $16,022.90 $192,274.80
580 THIRD STREET | RENT ROLL
Unique 12 Unit Multi-Tenant Industrial Park
580 Third Street, Lake Elsinore is fully stabilized with a diverse
tenant mix of Commercial/Industrial tenants serving the local &
regional economy.
Rent Roll is current as of January 1, 2018 and subject to change.
INVESTMENT PROFORMA
Property Asking Price: $2,575,000
End Of Year 1 End Of Year 2 End Of Year 3 End Of Year 4 End Of Year 5
Income Total Gross Income + CAM $192,275 $198,043 $203,985 $210,104 $216,407
Tax Expense Reimbursement
$10,061 $10,061 $10,061 $10,061 $10,061
Total Annual Income $202,336 $208,104 $214,046 $220,165 $226,468
Expenses Property Taxes (1.04%) $26,780 $27,316 $27,862 $28,419 $28,988
Property Insurance $5,000 $5,100 $5,202 $5,306 $5,412
Trash $3,172 $3,235 $3,300 $3,366 $3,433
Water $4,200 $4,284 $4,370 $4,457 $4,546
Electricity $2,294 $2,340 $2,387 $2,434 $2,483
Fire Alarm Service $540 $551 $562 $573 $585
Backflow Water Valve Service $80 $82 $83 $85 $87
General Maintenance & Repairs $3,500 $3,570 $3,641 $3,714 $3,789
Property Management $2,400 $2,448 $2,497 $2,547 $2,598
Total Expenses $47,966 $48,925 $49,904 $50,902 $51,920
Net Operating Income $154,370 $158,699 $163,158 $167,751 $172,482
Rate of Return 5.99% 6.16% 6.34% 6.51% 6.70%
580 THIRD STREET | INVESTMENT PROFORMA
Unique 12 Unit Multi-Tenant Industrial Park
Disclaimer: Income projections are hypothetical in nature and in no way guaranteed or implied. This income proforma assumes Tax Reimbursements and a 3% Gross Income growth rate and a 2% Expenses growth rate.
CA BRE License #01990696
800.468.2618 • naicapital.com
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NAI Capital Offices
No warranty, express or implied, is made as to the accuracy of the information contained herein. this information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. NAI Capital CA BRE #01990696
Contact Information Nicholas Chang, CCIMSenior Vice [email protected] BRE Lic. #01344844
Carey PastorSenior Vice [email protected] BRE Lic. #01403298Coporate CalBRE Lic. #01998652
Richard LeeSenior Vice [email protected] BRE Lic. #01757870
Justin KuehnSenior [email protected] BRE Lic. #01966182