orange ave significant rental upside ideally located … · 126 orange avenue is ideally located...

SOUTHERN CALIFORNIA'S PREMIER SALES TEAM

CoronadoORANGE AVE126 Orange Ave, Coronado, CA 92118

MIXED-USE RETAIL AND OFFICE PROPERTY WITH SIGNIFICANT RENTAL UPSIDE IDEALLY LOCATED ONE

BLOCK FROM THE PACIFIC OCEAN IN ONE OF THE NATION'S TOP BEACH CITIES, CORONADO, CA

TABLE OF CONTENTSTABLE OF CONTENTS

1PROPERTY OVERVIEW

2FINANCIAL ANALYSIS

3COMPARABLES ANALYSIS

4AREA OVERVIEW

INVESTMENT ADVISORS

CONFIDENTIALITY AND DISCLAIMER

The 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 & Mil-lichap and should 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 sum-mary, unverified information 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 due diligence investigation. Marcus & Millichap has not made any investi-gation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contam-inating substances, PCB’s or asbestos, 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 any tenant’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 and makes no warranty or representation whatso-ever regarding the accuracy or completeness of the information provided. All potential buy-ers must take appropriate measures to verify all of the information 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 NOTICE

Marcus & 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 is not 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, or commercial 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.

BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) [email protected]: CA #01434685www.BrandonMichaelsGroup.com

VAUGHN BROWNInvestment AssociatesNational Retail GroupTel: (818) 212-2718Fax: (818) [email protected]: CA #01955613www.BrandonMichaelsGroup.com


1PROPERTY OVERVIEW

CORA

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YACHT CLUB YACHT CLUB CONDOSCONDOS

LIBERTY LIBERTY STATIONSTATION

HARBOR VIEWHARBOR VIEW

LA PLAYALA PLAYA

North Island Naval Air Station

SAN DIEGO INTERNATIONAL

AIRPORT

DOWNTOWN SAN DOWNTOWN SAN DIEGO DIEGO

BARRIO LOGANBARRIO LOGAN

LOGAN HEIGHTSLOGAN HEIGHTS

76

The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively market for sale, a two-story, 9,180 SF mixed-use retail and office property located at 126 Orange Avenue in the affluent San Diego resort city of Coronado, CA. This unique location on a peninsula in San Diego Bay presents a true pride of ownership opportunity that is situated on 7,059 square feet of land. Dating back to 1892, the site was the very first firehouse in Coronado.

126 Orange Avenue is ideally located along Orange Avenue, the main retail thoroughfare through Coronado within walking distance (0.2 miles; one block) to local tourist attractions such as the Coronado Ferry Center and Centennial Park. There are two hotels within two-blocks of the subject property including the Coronado Island Marriott Resort & Spa. The subject property benefits from a plethora of restaurants, retailers, and entertainment within the immediate area including Coronado Brewing Company, Tartine, Cold Stone Creamery, Il Fornaio, Peohe’s, and the Coronado Certified Farmer’s Market. 126 Orange Avenue is currently occupied by Coronado Mexican Village Cocina & Cantina, a 6,447 square foot restaurant that has a California Type 47 liquor license, one of the most sought-after California liquor licenses in California. It is a license that gives restaurant owners and operators the privilege of offering all types of alcoholic beverages – beer, wine, and distilled spirits – to their patrons for consumption on their premises. This restaurant is currently on a month-to-month lease basis, and can be delivered vacant upon the close of escrow along with a transfer of the California Type 47 liquor license, presenting a unique opportunity for an owner-user Buyer who wants to operate a restaurant in a truly trophy location or a value-add Investor, as their current rent is $1.24 per SF is significantly below market.

126 Orange Avenue was completely renovated in 2012 from the inside and out and features a new roof, exterior facade, windows, doors, restaurant improvements, fully sprinklered, lighting, plumbing, electrical, sewer, concrete, foundation reinforcements and much more. The second story consists of five office suites, and is currently 100% occupied.

126 Orange Avenue is steps away from the Coronado Ferry Landing with impressive views of the Downtown San Diego skyline. Orange Ave is the prominent retail passageway of Coronado with restaurants and retailers from the Bay to the beach. Coronado is a highly affluent neighborhood of San Diego and one of the most desired tourist destinations. The world-famous Coronado Beach, Hotel Del Coronado, Museum of Art, Silver Strand, NAS Coronado Military Base, Coronado Yacht Club, and the Coronado Bridge are just minutes away. Coronado is a sub-market of Southern California that has an extremely low vacancy and high barrier to entry. In the first quarter of 2020, the total Coronado retail vacancy totaled 1.0%. The average asking rent in Coronado for retail space is currently $3.30 per square-foot.

A MIXED-USE RETAIL AND OFFICE PROPERTY WITH SIGNIFICANT RENTAL UPSIDE IDEALLY LOCATED ONE

BLOCK FROM THE PACIFIC OCEAN IN ONE OF THE NATION'S TOP BEACH CITIES, CORONADO, CA

EXECUTIVE SUMMARY8 | 126 Orange Avenue, Coronado, CA 92118 9


LOCATION OVERVIEW10 | 126 Orange Avenue, Coronado, CA 92118

126 Orange Avenue is ideally located just across the bay from downtown San Diego. Coronado is routinely voted among the finest beach cities in the nation among travelers, and in 2019 was ranked #9 by “Dr. Beach”. The island is an oasis by the sea, measuring hundreds of yards wide. With gentle surf, fine sparkling sand beaches, charming main street, and great hotels, including the famous Hotel Coronado, the island paradise is coveted by beach-goers for family vacations and romantic getaways.

Coronado’s coastline offers wide sandy beaches with shimmering sand, courtesy of the high concentrate of the mineral Mica. The lush subtropical vegetation, unique Mediterranean climate, quaint shops, elegant gardens, and oceanfront dining with spectacular sunset views attract visitors from around the world. The city’s nickname “The Crown City” is thus well earned and originates from the word Coronado in Spanish, which translates to “the crowned one”.

Residents and Tourist will spend the day relaxing on the beach or renting a bike to tour the island, via the beach front Boardwalk. In Coronado’s downtown district, Orange Avenue, the city’s main steet is lined with shops, restaurants, galleries, theaters, and the Coronado Museum of History and Art. At the north end of the island, Coronado’s Ferry Landing offers an abundance of shops, art galleries, and restaurants boasting stunning views of the downtown San Diego skyline. Flagship Cruises offer low cost ferry service to and from the landing across the bay to Seaport Village on the edge of downtown.

This resort city showcases countless outdoor recreational pursuits such as sailing, stand-up paddling, surfing, kayaking, and Venetian gondola cruises. Open since 1957, the island also features one of the best golf courses in Southern California, the Coronado Municipal Golf Course is a public bayfront par-72 golf course that offers clubhouse dining. In the spring locals and visitors alike rave of the Coronado Flower Show, held every spring since 1922.

11

CORONADO'S COASTLINE OFFERS WIDE SANDY BEACHES WITH SPARKLING SAND, COURTESY OF THE MINERAL MICA,

THAT DRAW VISITORS FROM AROUND THE WORLDCoronadoORANGE AVE126 Orange Ave, Coronado, CA 92118

CORANODO BRIDGECORANODO BRIDGEDOWNTOWN DOWNTOWN SAN DIEGO SAN DIEGO

ORANGE AVEORANGE AVE

C AVEC AVE

B AVEB AVE

1ST ST

1ST ST

EXCELLENT CORONADO LOCATION UNIQUE INVESTMENT OR OWNER-USER OPPORTUNITY

STRONG IMMEDIATE TOURIST AREA CREATES BUSINESS FRIENDLY HIGH TRAFFIC WALKABLE ENVIRONMENT

PRIDE OF OWNERSHIP ASSET IN TROPHY SAN DIEGO COUNTY LOCATION COMPLETELY RENOVATED

• Resort community home to two Naval bases, lovely residential homes, and stunning beaches

• Spectacular views of downtown San Diego Skyline• Ideally located just steps from the Coronado Ferry

Center and Centennial Park• 13,118 total population within 1 Mile radius• Median home value of $1,0432,242 within 1 Miles radius• Affluent sub-market with an average income north of

$140,000 within one mile of the subject property

• Property was completely renovated in 2012• Brand new roof• New exterior facade, windows, doors, and restaurant

improvements• Fully sprinklered with new lighting, plumbing, electrical,

sewer, concrete, foundation reinforcements and more

• Ideally situated at the beginning of Orange Avenue, the main retail thoroughfare through Coronado Island.

• Walk Score of 83/100• One block from Coronado Ferry Center and Centennial

Park• Plethora of dining options, retailers, hotels, and nightlife

in the immediate area

• First floor restaurant Village Cocina & Cantina features 6,447 SF with outdoor seating

• Restaurant is on a month to month lease basis, and can be delivered vacant to an Owner-User Buyer

• Restaurant contains a highly sought-after California Type 47 liquor license, which can be transferred in a sale

• Restaurant rent is significantly below market, creating a unique value-add opportunity

• Low Retail Vacancy rate of 1.1% for Q1 2020• Purisolabs Coronado Island is the only retail and

distribution licensed CBD store on Coronado

126 Orange Avenue, Coronado, CA 92118 | 13INVESTMENT HIGHLIGHTS

SILVER STRAND BLVDSILVER STRAND BLVD

FIRST STFIRST ST

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CORONDO BEACHCORONDO BEACH

GLORIETTA BAYGLORIETTA BAY

CORANODO BRIDGECORANODO BRIDGE

CENTENNIAL PARKSAN DIEGO SKYLINE

VIEWPOINT

North Island Naval Air Station

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PALM AVE

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ADDRESS 126 Orange AvenueCoronado, CA 92118

PRICE $5,500,000

BUILDING SF9,180 SF

Retail: 6,447 SF - 70%Office: 2,733 SF - 30%

LAND SF 6,970 SF

PRICE/SF (BUILDING) $599

PRICE/SF (LAND) $789

CURRENT CAP RATE 3.05%

PRO FORMA CAP RATE 5.89%

APN NUMBER 536-092-23

ZONING CN, Coronado

PROPERTY HIGHLIGHTS

$5,500,000PRICE

LAND SF

6,970 SFTOTAL BUILDING SF

9,180 SFCAP RATE

5.89%

126 Orange Avenue, Coronado, CA 92118 | 15

DOWNTOWN SAN DIEGODOWNTOWN SAN DIEGO

14


ORAN

GE AVE

ORAN

GE AVE

D AVE

D AVE

1ST ST1ST ST

CENTENNIAL PARKSAN DIEGO SKYLINE

VIEWPOINT

TRAFFIC COUNTS ALONG ORANGE AVE

16,000 +

SITE LOCATION

The subject property is located near the intersection of Orange Avenue and 1st Street.

SQUARE FOOTAGES

The total building square footage is 9,180 SF, including 6,447 SF of retail space and 2,733 SF of office space.

YEAR BUILT

The property was built in 1957.

ZONING

The zoning is CN, Coronado.

APN NUMBER

The APN number is 536-092-23.

CALIFORNIA TYPE 47 LIQUOR LICENSE

126 Orange Ave contains a type 47 liquor license. A California Type 47 liquor license is one of the most sought-after California liquor licenses in general. A California Type 47 liquor license is described by the California Alcoholic Beverage Control (ABC) as an on sale general eating place license, aka a restaurant license. A California Type 47 liquor license gives restaurant owners and operators the privilege of offering all types of alcoholic beverages – beer, wine and distilled spirits – to their patrons for consumption on their premises. Demand for a California Type 47 liquor license is extremely high, acquiring this license type can be time-consuming, expensive and complicated, altogether. The California Type 47 liquor license can be transferred in the sale.

SUMMARY OF TERMS

Interest Offered: 100% fee simple interest.

Terms of the Sale: Property is being offered on a free and clear basis.

Property Tours: Prospective purchases are encouraged to visit the site and review all due diligence materials prior to submitting offers. Access to an outline due diligence is available portal. All property tours must be coordinated through the listing team.

PROPERTY DETAILS16 | 126 Orange Avenue, Coronado, CA 92118

WALK SCORE83/1005 Miles

DISTANCE FROM DOWNTOWN SAN DIEGO

17

TENANT OVERVIEW18 | 126 Orange Avenue, Coronado, CA 92118 19

126 Orange Ave #B - Purisolabs Coronado Island1,060 SF - 11.5%

Unit 205 - PAWS INC512 SF - 5.6%

126 Orange Ave #A - Coronado Mexican Village Cocina Y Cantina6,447 SF - 70.2%

Unit 201 - CK2 LLC300 SF - 3.3%

Unit 202 - Easy Day Sports265 SF - 2.9%

Unit 203 - Brett J. Davis, Daniel A. Morga372 SF - 4.1%

Unit 204 - Easy Day Sports224 SF - 2.4%

It starts with family! Coronado’s Mexican Village strives to be the place where Islanders and their families can gather,have fun and enjoy great food. We are proud supporters of Coronado Schools Foundation as well as other local community organizations.

At Mexican Village we only use the highest quality ingredients to prepare authentic meals made con amor at affordable prices in a family-friendly environment.

Chefs Luciano Scagliarini and Niurka Olea have teamed up to create a menu combining classic and innovative dishes, including their Acapulco-style ceviche, which has the description “This isn’t your gringo ceviche” printed right on the menu as a slightly cheeky reminder.

The restaurant is open until 11 p.m. on weekdays, and midnight on Friday and Saturdays, so if you’re in the mood for a late night dessert, make sure you try the churros (you can try them during the day or after your meal, too—really, is there a bad time to have a chocolate/caramel churro). Other dessert options are flan, Mexican chocolate brownies, and fried plantains.

CORONADO MEXICAN VILLAGE COCINA Y CANTINA

TENANCY

2FINANCIAL ANALYSIS

UNIT TENANT SF SF % LEASE START LEASE EXP RENT RENT/SF INCREASES LEASE

TYPEPRO FORMA

RENTPRO FORMA

RENT/SF

201 CK2 LLC 300 3.3% 06/01/2017 01/31/2020 $975.37 $3.25 3.0% Gross $975.37 $3.25 202 Easy Day Sports 265 2.9% 03/15/2014 12/31/2020 $683.71 $2.58 3.0% Gross $683.71 $2.58

203 Brett J. Davis, Daniel A. Morga 372 4.1% 02/01/2020 01/31/2021 $695.91 $1.87 3.0% Gross $695.91 $1.87

204 Easy Day Sports 224 2.4% 08/01/2016 12/31/2020 $417.08 $1.86 3.0% Gross $417.08 $1.86 205 PAWS INC 512 5.6% 08/01/2018 12/31/2020 $1,581.74 $3.09 3.0% Gross $1,581.74 $3.09

126 Orange Ave #A

Coronado's Mexican Village 6,447 70.2% 08/01/2018 M2M $8,000.00 $1.24 3.0% NNN $22,564.50 $3.50

126 Orange Ave #B

Purisolabs Coronado Island 1,060 11.5% 11/01/2019 10/31/2024 $4,000.00 $3.77 3.0% NNN $4,000.00 $3.77

TOTAL 9,180 100% $16,353.81 $1.78 $30,918.31 $3.37

INCOME AND EXPENSE CURRENT PRO FORMA

Scheduled Lease Income $196,246 $371,020

NNN Charges $67,685 $67,685

Effective Gross Income $263,931 $438,705

Vacancy $18,133

Expenses $96,378 $96,378

Net Operating Income $167,553 $324,193

Price: $5,500,000

Building SF: 9,180 SF

Land SF: 6,970 SF

Price/SF (Building): $599

Price/SF (Land): $789

Current CAP Rate: 3.05%

Pro Forma CAP Rate: 5.89%

EXPENSE BREAKDOWN PER YEAR PER SF

Taxes @ 1.25% $66,000 $7.19

Insurance $4,427 $0.48

Management Fees $16,280 $1.77

Maintenance & Repair $121 $0.01

Roof Maintenance $2,407 $0.26

Pest Control $524 $0.06

Cleaning $2,120 $0.23

Cleaning, carpet $200 $0.02

Gardening $695 $0.08

Plumbing $800 $0.09

Water & Sanitation $2,805 $0.31

TOTAL $96,378 $10.50/$0.87

RENT ROLL

OPERATING DATA PRICING

22 | 126 Orange Avenue, Coronado, CA 92118

FINANCIAL ANALYSIS

126 Orange Avenue, Coronado, CA 92118 | 23

3COMPARABLES ANALYSIS

26 | 126 Orange Avenue, Coronado, CA 92118 126 Orange Avenue, Coronado, CA 92118 | 27

# ADDRESS SALE PRICE BUILDING SF PRICE/SF (BUILDING) LAND SF PRICE/SF

(LAND) CAP RATE SALES DATE

1 170 Orange AveCoronado, CA 92118 $6,000,000 6,836 $877.71 14,113 $425.13 4.75% 10/2/2018

21309 Orange AveLa Avenida PlazaCoronado, CA 92118

$14,225,000 15,988 $889.73 13,504 $1,053.39 - 03/28/2019

AVERAGE $10,112,500 11,412 $883.72 13,809 $739.26 - -

SALES COMPARABLES

126 Orange Ave

1 170 Orange Ave

2 1309 Orange Ave

2 3 4

1

$884AVG PRICE/SF

$739AVG PRICE/LAND SF

SALES COMPARABLES | PRICE/SF

1

2


# ADDRESS RENTABLE SF SF AVAILABLE RENT/SF/YR RENT/SF/MON LEASE TYPE

11033 B AveIsland TerraceCoronado, CA 92118

27,001 2,463 $48.00 $4.00 NNN

2 875 Orange AveCoronado, CA 92118 13,290 4,871 $47.40 $3.95 NNN

31300-1330 Orange AveCoronado PlazaCoronado, CA 92118

49,322 2,527 $57.12 $4.76 FS/NEGOT

AVERAGE 29,871 3,287 $50.84 $4.24 -

126 Orange Ave

1 1033 B Ave

2 875 Orange Ave

3 1300-1330 Orange Ave

2 3 4

1

$4.24AVG RENT/SF/MONTH

$50.84AVG RENT/SF/YEAR

RENT COMPARABLES | RENT/SF/MONTH

1

2

3

CURRENTLY AVAILABLE FOR LEASE

RENT COMPARABLES


# ADDRESS RENTABLE SF SF LEASED RENT/SF/YR RENT/SF/MON LEASE TYPE LEASE START

1 944-950 Orange AveCoronado, CA 92118 4,566 2,025 $60.00 $5.00 NNN Jan 2020

2 100-138 B AveCoronado, CA 92118 14,000 675 $36.00 $3.00 +ELEC Nov 2019

31033 B AveIsland TerraceCoronado, CA 92118

27,001 1,327 $48.90 $4.08 NNN Nov 2019

41300-1330 Orange AveCoronado PlazaCoronado, CA 92118

49,322 1,284 $36.00 $3.00 +UTIL Jul 2019

5 1122-1190 Orange AveCoronado, CA 92118 40,352 1,000 $72.00 $6.00 NNN Dec 2018

AVERAGE 27,048 1,262 $50.58 $4.22 -

126 Orange Ave


2 100-138 B Ave

3 1033 B Ave



2 3 4

1

$4.22AVG RENT/SF/MONTH

$50.58AVG RENT/SF/YEAR

RENT COMPARABLES | RENT/SF/MONTH

1

2

354

EXECUTED LEASES

RENT COMPARABLES

4AREA OVERVIEW

AREA OVERVIEW 126 Orange Avenue, Coronado, CA 92118 | 35

CoronadoJust Across The Bridge And A World Away

Situated just across the bay from downtown San Diego, Coronado is consistently voted best beach in the U.S. by Dr. Beach. With gentle surf, sparkling wide-sand beaches, charming main street and great hotels, including the famous Hotel del Coronado, this island paradise is perfect for a family vacation or romantic getaway.

Coronado's coastline offers wide sandy beaches with sparkling sand, courtesy of the mineral Mica, that draw visitors from around the world. With its elegant gardens, old-world mansions, quaint shops, and oceanfront dining with spectacular sunset views, no wonder this charmed small town has been

dubbed "The Crown City," as Coronado means "the crowned one" in Spanish.

Spend the day relaxing on the beach or rent a bike and tour the island via Coronado's beachfront boardwalk. Take a stroll down Orange Avenue, Coronado's main artery, which is lined with shops, restaurants, galleries, theaters and the Coronado Museum of History & Art. At the other end of the island, Coronado's Ferry Landing offers a collection of more than 20 shops, art galleries and restaurants boasting stunning views of San Diego's downtown skyline. Flagship Cruises also offers low cost ferry service from the landing across the bay to Seaport Village on the edge of downtown.

Beyond the beach, Coronado features countless outdoor recreational pursuits including sailing, stand-up paddling, surfing, kayaking, and Venetian gondola cruises. There’s also top-rate golf on Coronado’s Public Golf Course, described as “a gem I consider the best value in the United States" by Golf Digest writer Matt Ginella. Locals and visitors alike also love the popular Coronado Flower Show, held each spring since 1922.

And no trip to Coronado would be complete without a visit to the legendary Hotel del Coronado. Built in 1888 and designated a National Historic Landmark, the hotel has a fascinating and colorful past, which includes presidents and princes, socialites and scandals, ghosts and glamorous celebrities. It's also widely believed to have been the inspiration for the Emerald City in L. Frank Baum's “Wizard of Oz” as the author spent many winters at the oceanfront hotel.

CORONADO, CALIFORNIA

TOURISMAn essential component of Coronado's economy

5 MILESDistance from Coronado to San Diego

24,053Population of Coronado, CA (2017 Census)

34

POINTS OF INTERESTCORONADO FERRY LANDINGDine - Shop - Play - EnjoyCoronado's first class shopping village along the San Diego Bay provides something for everyone and every budget. Located on First Street at B Avenue on the bay you'll be sure to fall in love with all the food and shopping Coronado Ferry Landing has to offer.

HOTEL DEL CORONADOAmerica's Beachfront Legend in CoronadoOn the edge of the Pacific, along miles of privately owned beach, where sands sparkle like gold, The Del offers a magical beachfront experience unrivaled on the West Coast. This majestic oceanfront beach resort engages the senses and captivates the imagination of international guests and San Diego locals alike. Situated on America’s most beloved beach, The Del is an iconic destination on every savvy traveler’s must-see list. Our ever-evolving transformation embodies the resort’s character agelessly, blending our legendary past with the relevance of a coastal Southern California lifestyle.

CORONADO MUSEUM OF HISTORY & ARTOngoing exhibits explore the overall history of CoronadoThe City of Coronado Visitor Center is your first stop when visiting the Island. Come in for complimentary maps, guides, tour information, discount tickets, brochures and directions. We also have a team of knowledgeable Ambassadors to provide personalized service 7 days a week. The Visitor Center is in the landmark Historical Association building, a historically-designated site, right in the center of downtown. Inside the Visitor Center is the Coronado Museum of History and Art.

SEAPORT VILLAGEUnique Shopping, Dining and EntertainmentDowntown's Seaport Village, awash in coastal breezes and views of Coronado Bridge, offers eclectic gifts and souvenirs. There are 50-plus diverse shops, 17 unique eateries and four bayside restaurants. With four miles of meandering cobblestone pathways bordered by ponds, lakes, fountains and colorful landscaping, plus a quarter-mile slate boardwalk along the San Diego Bay, it's easy to enjoy an afternoon stroll while you wander through the shops, walking the promenade and taking in the scenery.

36 | 126 Orange Avenue, Coronado, CA 92118 AREA OVERVIEW 37

AREA OVERVIEW 126 Orange Avenue, Coronado, CA 92118 | 39

San DiegoCalifornia's Beach City

SAN DIEGO, CALIFORNIA

DOWNTOWN & GASLAMP QUARTER HILLCREST LITTLE ITALY NORTH & SOUTH PARK

38

Anchored by 70 miles of beautiful coastline but brimming with vibrant arts and cultural, dynamic dining and entertainment, here you'll see why San Diego is called "California's Beach City."

San Diego is a city in the U.S. state of California on the coast of the Pacific Ocean, approximately 120 miles south of Los Angeles and immediately adjacent to the border with Mexico. With an estimated population of 1,425,976 as of July 1, 2018, San Diego is the eighth-largest city in the United States and second-largest in California. The city is known for its mild year-round climate, natural deep-water harbor, extensive beaches, long association with the United States Navy, and recent emergence as a healthcare and biotechnology development center.

With near perfect weather year-round, 70 miles of spectacular coastline, world-class attractions and a thriving urban core, complete with a sophisticated art, dining and nightlife scene, San Diego has earned the name California’s beach city.

The largest sectors of San Diego's economy are defense/military, tourism, international trade, and research/manufacturing. The city is the seat of San Diego County and is the economic center of the region as well as the San Diego–Tijuana metropolitan area. San Diego's main economic engines are military and defense-related activities, tourism, international trade, and manufacturing. The presence of the University of California, San Diego (UCSD), with the affiliated UCSD Medical Center, has helped make the area a center of research in biotechnology.

EMPLOYER EMPLOYEES

United States Navy 38,455

University of California, San Diego 29,986

Sharp HealthCare 17,807

County of San Diego 17,384

San Diego Unified School District 14,120

Qualcomm, Inc. 11,600

City of San Diego 11,387

Scripps Health 10,853

Total Population of Coronado, CA. The median age is 38.1.

MaleEDUCATION

Female

24,053

46%54%

High School Graduate9%

Master’s Degree or Higher31%

Bachelor’s Degree32%

Some College or Associates Degree

26%

45,005Owner Occupied Households

within 5-m radius

98,080Renter Occupied Households

within 5-m radius

23,478Businesses within a 5-m radius

$140,330Average HH income within 1-m radius

$109,685Median HH income within 1-m radius

368,328Population within 5-m radius

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

2019 Total Population: 13,118 125,815 368,328

Pop Growth 2019-2024: 1.80% 4.65% 3.58%

Average Age: 42.80 38.10 36.50

2019 Total Households: 5,882 52,993 143,085

Avg Household Size: 2.10 2.00 2.30

2019 Owner Occupied Households: 2,672 14,023 45,005

2019 Renter Occupied Households: 3,211 38,971 98,080

2019 HOUSEHOLDS BY HOUSEHOLD INCOME

<$25,000 477 13,254 30,524

$25,000 - $50,000 786 9,345 28,744

$50,000 - $75,000 898 8,410 25,385

$75,000 - $100,000 577 5,334 16,445

$100,000 - $125,000 524 4,429 12,538

$125,000 - $150,000 495 3,334 8,534

$150,000 - $200,000 767 3,713 9,153

$200,000+ 1,358 5,174 11,761

2019 Median Household Income $109,685 $61,273 $61,916

2019 Average Household Income $140,330 $89,333 $86,485

DEMOGRAPHICS



BRANDON MICHAELSSenior Managing Director of InvestmentsSenior Director, National Retail GroupTel: (818) 212-2794Fax: (818) [email protected]: CA #01434685www.BrandonMichaelsGroup.com

VAUGHN BROWNInvestment AssociatesNational Retail GroupTel: (818) 212-2718Fax: (818) [email protected]: CA #01955613www.BrandonMichaelsGroup.com


orange ave significant rental upside ideally located … · 126 orange avenue is ideally located...

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