investment opportunity - loopnet...josh reilly, mba principal lic id: 01474368 t: 949.525.2720 e:...
TRANSCRIPT
214 M A I N S T R E E T
S E A L B E A C H , C A 9 0 7 4 0
Offering MemorandumINVESTMENT OPPORTUNITY
Lee & Associates Los Angeles-Long Beach, Inc.5000 East Spring Street, Suite 600 | Long Beach, California 90815
PH: (562)354-2500| www.lee-associates.com
JOSH REILLY, MBAPrincipal | LIC ID#: 01474368
T: 949.525.2720
Local Expert ise. International Reach. World Class.
2 1 4 M A I N S T R E E T | S E A L B E A C H , C A L I F O R N I A 9 0 7 4 0
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. 10.7.19
Investment Summary & HighlightsAsking Price: $1,950,000.00 ($1,147.06 / SF)
Building Sq Ft: ±1,700 Sq Ft
Land Sq Ft: ±2,973 Sq Ft
APN: 199-043-14
NOI: $65,000.00
Cap Rate: 3.33%
Other Features: Mixed-use retail in the front of the building, office space in the back and roof top deck
West Orange County Location• High barriers to entry for owners seeking quality Retail / Mixed-Use product
• Pride of Ownership Building
• Located one (1) block from the beach
• Building Completely Renovated in 2013
• Roof Top Deck
• Two (2) Parking Stalls in the back of the Property
PACIFIC COAST HWY
PACIFIC COAST HWY
ELECTRIC AVE
MAI
N ST
MAI
N ST
10TH
ST
11TH
ST
12TH
ST
8TH
ST
8TH
ST
7TH
ST
7TH
ST
6TH
ST
MARINE DR
MAJO
R PR I CE
REDUCT IO
N!
Lee & Associates Los Angeles-Long Beach, Inc.5000 East Spring Street, Suite 600 | Long Beach, California 90815
PH: (562)354-2500| www.lee-associates.com
JOSH REILLY, MBAPrincipal | LIC ID#: 01474368
T: 949.525.2720
Local Expert ise. International Reach. World Class.
2 1 4 M A I N S T R E E T | S E A L B E A C H , C A L I F O R N I A 9 0 7 4 0
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. 10.7.19
Financial Analysis Gross Rental Income: $90,000.00
Operating Expenses: $25,000.00
Net Operating Income: $65,000.00
Actual Cap Rate: 3.33%
ExpensesTaxes (Tax Rate 1.0819% + $764 Special Assessments) $23,483.89
Insurance / Maintenance: $1,516.11
Total: $25,000.00
Asking Price: $1,950,000.00 (3.33% Cap)
Lee & Associates Los Angeles-Long Beach, Inc.5000 East Spring Street, Suite 600 | Long Beach, California 90815
PH: (562)354-2500| www.lee-associates.com
JOSH REILLY, MBAPrincipal | LIC ID#: 01474368
T: 949.525.2720
Local Expert ise. International Reach. World Class.
2 1 4 M A I N S T R E E T | S E A L B E A C H , C A L I F O R N I A 9 0 7 4 0
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. 10.7.19
Tenant SummaryADDRESS GLA
(SF)% OF GLA
MONTHLY RENT
RENT/SF ANNUAL RENT
LEASE COMMENCEMENT
LEASE EXPIRATION
INCREASES LEASE TYPE
214 Main StreetPetals & Pop (Retail) 500 29.41% $2,500 $5.00 $30,000 - 8/31/2020 - Modified
Gross
214 Main StreetTammy Rene Designs (Office)
1,200 70.59% $5,000 $4.17 $60,000 3/1/2019 2/28/2022 3% Modified Gross
TOTAL: 1,700 100% $7,500 $90,000
Lee & Associates Los Angeles-Long Beach, Inc.5000 East Spring Street, Suite 600 | Long Beach, California 90815
PH: (562)354-2500| www.lee-associates.com
JOSH REILLY, MBAPrincipal | LIC ID#: 01474368
T: 949.525.2720
Local Expert ise. International Reach. World Class.
2 1 4 M A I N S T R E E T | S E A L B E A C H , C A L I F O R N I A 9 0 7 4 0
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. 10.7.19
Pro-Forma Financial Analysis Gross Rental Income: $122,000.00
Operating Expenses: $25,000.00
Net Operating Income: *$97,000.00
Actual Cap Rate: 4.97%
ExpensesTaxes (Tax Rate 1.0819% + $764 Special Assessments) $23,483.89
Insurance / Maintenance: $1,516.11
Total: $25,000.00
*$20,000 Value Added for the Rooftop Deck
Asking Price: $1,950,000.00 (4.97% Cap)
Lee & Associates Los Angeles-Long Beach, Inc.5000 East Spring Street, Suite 600 | Long Beach, California 90815
PH: (562)354-2500| www.lee-associates.com
JOSH REILLY, MBAPrincipal | LIC ID#: 01474368
T: 949.525.2720
Local Expert ise. International Reach. World Class.
2 1 4 M A I N S T R E E T | S E A L B E A C H , C A L I F O R N I A 9 0 7 4 0
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. 10.7.19
Pro-Forma Tenant SummaryADDRESS GLA
(SF)% OF GLA
MONTHLY RENT
RENT/SF ANNUAL RENT
LEASE COMMENCEMENT
LEASE EXPIRATION
INCREASES LEASE TYPE
214 Main StreetPetals & Pop (Retail) 500 29.41% $3,500 $7.00 $42,000 - 8/31/2020 - Modified
Gross
214 Main StreetTammy Rene Designs (Office)
1,200 70.59% $5,000 $4.17 $60,000 3/1/2019 2/28/2022 3% Modified Gross
Rooftop Deck $20,000
TOTAL: 1,700 100% $7,500 $122,000
Lee & Associates Los Angeles-Long Beach, Inc.5000 East Spring Street, Suite 600 | Long Beach, California 90815
PH: (562)354-2500| www.lee-associates.com
JOSH REILLY, MBAPrincipal | LIC ID#: 01474368
T: 949.525.2720
Local Expert ise. International Reach. World Class.
2 1 4 M A I N S T R E E T | S E A L B E A C H , C A L I F O R N I A 9 0 7 4 0
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. 10.7.19
207 Main St, Seal Beach, CA 90740207 Main St, Seal Beach, CA
Copyrighted report licensed to Lee & Associates - 650023.
Main Street8th Street
10th StreetCentral A
ve
Lee & Associates Los Angeles-Long Beach, Inc.5000 East Spring Street, Suite 600 | Long Beach, California 90815
PH: (562)354-2500| www.lee-associates.com
JOSH REILLY, MBAPrincipal | LIC ID#: 01474368
T: 949.525.2720
Local Expert ise. International Reach. World Class.
2 1 4 M A I N S T R E E T | S E A L B E A C H , C A L I F O R N I A 9 0 7 4 0
DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. 10.7.19
JOSH REILLY, MBAPrincipal
LIC ID#: 01474368T: 949.525.2720E: [email protected]
For More Information, Please Contact: