presented by: hawarden hills academy · canyon crest neighborhood of the city of riverside, the...
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HAWARDEN HILLS ACADEMY6696 Via Vista, Riverside, CA 92506
PRESENTED BY:
OFFERING MEMORANDUM
PROPERTY INFORMATIONExecutive Summary 3Property Information 4Property Location 5Floor Plans 6Additional Photos 9
SALE COMPARABLESSale Comps 11
DEMOGRAPHICSIndustry Trends 12Demographics 13
ADVISOR BIOSAdvisor Bios & Contact 14
TABLE OF CONTENTS
OFFERING SUMMARYAsking Price: $5,000,000
Building Size: ±32,935
Lot Size: ±2.84 acres
Assessors Parcel Number:
268-040-001
Asking Price/SF: ±$151.00
Year Built: 1983, 1985, 1989
Year Renovated: 2004
Zoning: Single Family Residential (R-1-7000); school use is permitted with a CUP; Buyer to verify
Parking: 58 spaces; 1.76:1,000
PROPERTY OVERVIEWLee & Associates and SVN|Insight are pleased to present thisunique opportunity to acquire a well-maintained private schoolfacility in continuous operation since 1983. Located in the upscaleCanyon Crest neighborhood of the City of Riverside, the regionboasts above-average household incomes and educationalachievement with in a one-mile radius of the property (Source:ESRI). The property offers the following features:
PROPERTY HIGHLIGHTS• Up to 28 Classrooms• Gymnasium• Amphitheater with stage• Computer Lab• Large gated play area• Private parking/Safe drop-off and pick-up• Media Room
PROPERTY INFORMATIONEXECUTIVE SUMMARY
BUILDING SUMMARY SQUARE FEET
YEAR BUILT/RENOVATED
Main Office/Classrooms: 19,793 1983/2004
Gymnasium/Classrooms: 11,924 1995
Restrooms: 588 1989
Storage Building: 630 1989
Total: 32,935 SF
PROPERTY OVERVIEWHawarden Hills Academy consists of 4 separate buildings. Adetailed breakdown of the buildings is provided below. The totalcombined building area for the subject improvements is ±32,935square feet. The subject property includes up to 28 classrooms,administration offices, a kitchen, gym, amphitheater with stageand playgrounds. The main building was renovated in 2004 and therenovation consisted of adding ±11,873 square feet of additionalclassroom/office space. Hawarden Hills Academy is located on±2.84 acres, with neighbors only to the north. The subject propertycurrently operates as a Pre-Kindergarten through middle schoolthrough the end of the 2019-2020 school year.
PROPERTY INFORMATIONEXECUTIVE SUMMARY
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PROPERTY LOCATIONAERIAL
Approximate Parcel Line
Main Office/Classrooms
GymnasiumAmphitheaterClassrooms
LunchPavilion
Storage
Restrooms
FLOOR PLANMAIN BUILDING
COMPUTER LAB
COMPUTER LAB
COMPUTER LAB
COMPUTER LAB
OFFICEOFFICE
RES
TRO
OM
S
RES
TRO
OM
S
RECEPTION
BREAK ROOM ADMINM
EDIA
*Floorplans are not to scale and are not guaranteed to be accurate
Exit
FLOOR PLANGYMNASIUM/AMPHITHEATER/CLASSROOMS
AMPHITHEATER
LUNCHPAVILION
*Floorplans are not to scale and are not guaranteed to be accurate
FLOOR PLANGYMNASIUM/AMPHITHEATER/CLASSROOMS
AMPHITHEATER
*Floorplans are not to scale and are not guaranteed to be accurate
EXTERIOR PICTURES
INTERIOR PICTURES
SUBJECT PROPERTY ADDRESS PRICE BLDG SF PRICE/SF LAND SF SALE DATE YEAR BUILT/RENOVATED
Hawarden Hills Academy 6996 Via Vista, Riverside $5,000,000 ±32,935 SF ±$151.81 ±2.44 AC Soon! 1983/1985/1989/2004
COMPARABLES ADDRESS PRICE BLDG SF PRICE/SF LAND SF SALE DATE YEAR BUILT/RENOVATED
River Springs Charter School
26800 Newport Road, Menifee $7,500,000 ±44,667 SF ±$167.91 ±4.91 AC 12/29/17 1993/2007
Hillcrest Academy 29275 Santiago Road, Temecula $1,810,679 ±14,136 SF ±$128.09 ±3.60 AC 11/7/16 Unknown
American Sports University
340 West 4th Street, San Bernardino $6,908,824 ±51,980 SF ±$132.91 ±0.98 AC 6/21/16 1955
Julian Charter School 29141 Vallejo Avenue, Temecula $4,220,000 ±30,000 SF ±$140.67 ±9.22 AC 3/25/15 Unknown
SALES COMPARABLES
Source: CoStar, 2020
INDUSTRY TRENDS
Total revenue in 2019
$87 billion
Number of businesses
36,189
Annual Growth
3.8%
Industry Employment
836,324
How Are Private Schools Trending in the U.S.?
The private school industry comprisesindependently operated primary andsecondary educational institutions. As aresult, they are heavily dependent onstudent enrollment as a main source ofincome. Over the five years between 2014and 2019, industry operators havebenefited from rising household incomelevels and growth in the percentage ofhouseholds earning more than $100,000,both of which have enabled parents tobetter afford the industry's relativelyexpensive tuition rates. Overall, industryrevenue is estimated to have increased atan annualized rate of 1.5% in 2019 to $87.5billion.
Source: IBISWorld - Private School Industry Report (2019)
POPULATION2024 Projection 7,361 74,693 241,117
2019 Estimate 7,127 71,322 230,260
Growth 2019-2024 3.28% 4.73% 4.72%
DAYTIME POPULATION2019 Estimate 4,183 56,590 239,117
HOUSEHOLDS2024 Projection 2,551 25,104 75,167
2019 Estimate 2,484 24,004 72,046
Growth 2019-2024 2.70% 4.58% 4.33%
INCOMES2024 Median Income $139,716 $99,005 $77,438
2019 Median Income $133,171 $89,034 $67,349
Growth 2019-2024 4.92% 11.20% 14.98%
Median Net Worth $1,223,622 $288,807 $83,834
DISPOSABLE INCOMES2019 Median Disposable $104,091
2019 Average Disposable $122,370
DEMOGRAPHICS
DEMOGRAPHICS 1 Mile 3 Miles 5 Miles
EDUCATIONBachelor’s/Graduate/Professional 49%
Some College 31%
High School Graduate 14%
No High School Diploma 6%
EMPLOYMENTWhite Collar 75%
Blue Collar 11%
Services 13%
Unemployment Rate 5.6%
CONSUMER SPENDING – 1 mile
Education Total $9,498,904
Education Average $3,824
Health Care Total $29,149,189
Health Care Average $11,734
Source: ESRI, 2020
RICK LAZARSenior Vice President
CalDRE# 00549349
SPENCER HULLVice President
CalDRE# 0150742
BRETT LARSON, JD, CCIM Managing Director
CalDRE# 01947115
JANET F. KRAMER, JD, CRRP Managing Partner [email protected] x2
CalDRE# 01351570