prime south bay development - for sale · 2019. 10. 23. · 500 n. pacific coast hwy redondo beach,...

500 N. PACIFIC COAST HWYREDONDO BEACH, CA

MIKE GRANNIS310.379.2228 x2

[email protected]

PRIME SOUTH BAY DEVELOPMENT - FOR SALE

Highland Partners Corp. | 310.379.2228 | 880 Apollo Street, Suite 331, El Segundo, CA 90245

2 | 500 North Pacific Coast Hwy, Redondo Beach, CA 90277

PROPERTY INFORMATION 3

FINANCIAL ANALYSIS 9

LOCATION INFORMATION 12

MARKET OVERVIEW 15

CONFIDENTIALITY & DISCLAIMER CONTENTS

All materials and information received or derived from Highland Partners Corp., its directors, officers,agents, advisors, affiliates and/or any third party sources are provided without representation orwarranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack ofcompliance with applicable governmental requirements, developability or suitability, financialperformance of the property, projected financial performance of the property for any party’s intendeduse or any and all other matters.

Neither Highland Partners Corp., its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the any materials orinformation provided, derived, or received. Materials and information from any source, whether writtenor verbal, that may be furnished for review are not a substitute for a party’s active conduct of its owndue diligence to determine these and other matters of significance to such party. Highland PartnersCorp., will not investigate or verify any such matters or conduct due diligence for a party unlessotherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including through appropriate thirdparty independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. Highland Partners Corp., makes no warranties and/or representationsregarding the veracity, completeness, or relevance of any financial data or assumptions. HighlandPartners Corp., does not serve as a financial advisor to any party regarding any proposed transaction.All data and assumptions regarding financial performance, including that used for financial modelingpurposes, may differ from actual data or performance. Any estimates of market rents and/or projectedrents that may be provided to a party do not necessarily mean that rents can be established at orincreased to that level. Parties must evaluate any applicable contractual and governmental limitationsas well as market conditions,vacancy factors and other issues in order to determine rents from or forthe property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussedby the party with a certified public accountant or tax attorney. Title questions should be discussed bythe party with a title officer or attorney. Questions regarding the condition of the property and whetherthe property complies with applicable governmental requirements should be discussed by the partywith appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Highland Partners Corp., in compliance with all applicable fairhousing and equal opportunity laws.

Table of Contents FORSALE

1 | PROPERTY HIGHLIGHTS

MIKE GRANNIS310.379.2228 [email protected]



OFFERING SUMMARY

Street Address 500 North Pacific Coast Hwy

City, State, Zip Redondo Beach, CA 90277

County Los Angeles

Market South Bay

Cross-Street Beryl Street

Building Size 9,121 SF

Lot Size 21,868 SF (0.50 acres)

Year Built 1954

Zoning RBC-2B

PROPERTY FEATURES

• Irreplaceable Redondo Beach Location

• Prime Development with In-place Income

• Dense Infill Trade Area: Over 170,000 people within 3 miles

• Close Proximity to nearby Affluent Coastal Cities: Hermosa Beach,Manhattan Beach, Palos Verdes Peninsula

• Strong Retail Trade Area- neighboring retailers include WholeFoods, Rite Aid, CVS Pharmacy, Starbucks and Smart & Final

Property Highlights FORSALE


Current Site Plan FORSALE


Proposed Site Plan FORSALE


Firestone Tire5 0 0 N o r t h P a c i f i c C o a s t H w y R e d o n d o B e a c h , C A 9 0 2 7 7

FORSALE

2 | FINANCIAL ANALYSIS




PURCHASE PRICE: $7,500,000

ANNUAL NOI: $549,589.00

CAP RATE: 7.33%

OCCUPANCY: 100%

TENANCY: SINGLE

• Opportunity to re-position for future development

• NOI growth through future rental increases

• Best in market location with upside

• Reliable and consistent Cash Flow

Investment Summary FORSALE


Enter comments here...

TENANT NAMEBUILDINGSIZE (SF)

LANDSIZE (SF)

LEASEEND

LEASEOPTIONS

ANNUALRENT

PRICEPER SF/YR % GLA

Bridgestone Retail Operations, LLC 9,121 SF 21,868 SF 6/30/2022 None $549,589.00 $60.26 PSF 100%

Rent Roll FORSALE

3 | LOCATION INFORMATION




Regional Map FORSALE


POPULATION 1 MILE 2 MILES 3 MILESTotal population 23,970 87,823 174,004

Median age 39.6 39.6 39.4

Median age (Male) 39.7 39.7 39.4

Median age (Female) 39.2 39.2 39.2

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILESTotal households 10,850 36,928 70,141

# of persons per HH 2.2 2.4 2.5

Average HH income $119,825 $120,302 $120,928

Average house value $917,652 $867,490 $844,137

* Demographic data derived from 2010 US Census

Demographics FORSALE

4 | MARKET OVERVIEW




SOUTH BAYThe South Bay is a region of the Los Angeles metropolitan area which contains fifteen

cities plus portions of the City of Los Angeles and unincorporated portion of the County

of Los Angeles. The area is bounded by the Pacific Ocean on the south and west and

generally by the City of Los Angeles on the north and east. Its name comes from its

location on the south end of the Santa Monica Bay.

Major areas of the South Bay include: the beach cities of Manhattan Beach, Hermosa

Beach, and Redondo Beach, a popular destination for swimmers, surfers and

beachgoers; the Palos Verdes Peninsula, home to the affluent communities of Palos

Verdes Estates, Rancho Palos Verdes, Rolling Hills and Rolling Hills Estates; the Los

Angeles harbor neighborhoods of San Pedro and Wilmington; and the inland cities of

Inglewood, Hawthorne, Gardena, Lawndale, Lomita and Carson. The Harbor (110), San

Diego (405), Gardena (91), and Century (105) Freeways provided the region with its

principal transportation links to the rest of Southern California.

The South Bay is heavily reliant on the aerospace and automotive industries, and is

home to numerous industry headquarters. It has two major transportation hubs on its

borders- Los Angeles International Airport and the Ports of Los Angeles and Long

Beach- and the Pacific Ocean is a its back-door. These factors, and its diverse cities,

make it economically, geographically and socially unique.

Market Overview FORSALE


MIKE GRANNIS

Highland Partners Corp880 Apollo Street, Suite 331El Segundo, CA 90245310-379-2228 ex [email protected]. 01393628

RALPH CIMMARUSTI

Highland Partners Corp880 Apollo Street, Suite 331El Segundo, CA 90245310-379-2228 ex [email protected]. 01434335

Contact Information FORSALE

prime south bay development - for sale · 2019. 10. 23. · 500 n. pacific coast hwy redondo beach,...

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