Campbell avenue retail, downtown Campbell

Campbell avenue retail, downtown Campbell

Campbell avenue retail, downtown campbell
191-201 E AS T Ca mp bel l Av enue, ca mp bel l, Ca l if orni a 95 0 0 8
PrimeCommercial
i n c o r p o r a t e d
Exclusive Agents:
Doug Ferrari
408.879.4002
Dixie Divine
408.879.4001
investment offering
$5,450,000.00
1 Confidentiality & Disclosure
2Investment Offering
3Location and Trade Area
4Property Photos
6Improvements
7 Tenant Information & Occupancy
9Rent Roll
10Financial Overview
11Maps
12 Aerial Map
13 Site Plan
14 Argus Spreadsheet
Table of Contents
191-201 E AS T Ca mp bel l Av enue, ca mp bel l, Ca l if orni a 95 0 0 8
PrimeCommercial
i n c o r p o r a t e d
The information herein is distributed by Prime Commercial, Inc., and is intended to be viewed only by those par ties specificity targeted by Prime
Commercial, Inc. The package should not be made available to any other par ties unless first verified, in writing, by Prime Commercial, Inc. This
Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary
level of interest in the subject proper ty. The information contained herein is not a substitute for a through due diligence investigation. Prime Commercial, Inc. has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject
proper ty, the future projected financial per formance of the proper ty, the size and square footage of the proper ty and improvements, the presence
of absence of contaminating 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 proper ty. The information contained in this Marketing Brochure has been obtained from sources Prime Commercial, Inc. deems reliable, however Prime Commercial, Inc. has no verified , and will not verify, any of the information contained herein, nor has Prime Commercial, Inc.
conducted any investigation regarding theses mat ters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set for th herein.
1543 lafayette street ∙ suite c ∙ Santa Clara ∙ CA ∙ 95050 | Office 408.879.4000 | fa x 408.879.4004 | www.primecommercialinc.com
Confidentiality & Disclaimer
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
1
The information herein is distributed by Prime Commercial, Inc., and is intended to be viewed only by those parties specificity targeted by
Prime Commercial, Inc. The package should not be made available to any other parties unless first verified, in writing, by Prime Commercial,
Inc. This Marketing Brochure has been prepared to provide summary, 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 through due diligence investigation. Prime Commercial, Inc. has not made any investigation, 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 of absence of contaminating 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 Prime Commercial, Inc. deems reliable, however Prime Commercial, Inc. has no verified , and will not verify, any of the information
contained herein, nor has Prime Commercial, Inc. conducted any investigation regarding theses matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures
to verify all of the information set forth herein.
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Investment Offering
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
2
Prime Commercial Inc., is pleased to offer the ground floor retail shops and second floor offices within a luxury mixed use development
located in the heart of Downtown Campbell. The project has a hard corner location at the northwest corner of East Campbell Avenue and
Second Street adjacent to the new 301 vehicle public garage. Downtown Campbell has become a vibrant urban hub offering luxury housing, award winning restaurants, and unique retail shops and galleries. The shops at Campbell will provide the astute investor with a stable
but increasing cash flow as well as an asset that will continue to appreciate over time.
The building is in the final stage of lease-up with an occupancy ration of 91% on the ground floor. The Seller will provide the Buyer with a
one year rental guarantee on this ground floor vacancy as well as for the second floor office suites. Additionally, the seller will pay for the
brokerage cost of leasing these vacancies.
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Location and Trade Area
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
3
The property is located at the northwest corner of E. Campbell Avenue and North 2nd Street in the heart of Downtown Campbell. The ground
floor retail as well as the second floor office component is offered for sale within this 44,356 square foot mixed use building, with 22 one
and two bedroom luxury condominium units. Downtown Campbell has emerged as one of the South Bay Areas most prominent and energetic downtowns. The Downtown district is bound by busy Winchester Boulevard to the West, Railway Avenue to the East, Orchard City Drive
to the South, and Civic Center Drive to the North. Over the past few years, the City of Campbell has lavished over 20 million dollars on this
district with wide sidewalks, lush landscaping, outdoor lighting and a new 301 space public parking garage which is adjacent to the subject
property. In addition to a variety of restaurants that range from quick serve to gourmet dinning there are a variety of specialty retail shops
dispersed though out the downtown area. The City of Campbell has done an excellent job of promoting the downtown district and has managed development in a pedestrian friendly mode with bountiful parking and pedestrian friendly walkways and corridors. Additionally, Downtown Campbell has become the place to be for community events such as the weekly Farmer’s Market, the largest in the South Bay; Boogie
on the Bayou, which is held the 3rd weekend in May and brings 60,000 visitors to downtown for live music, art fairs, and food; and the very
popular summer concert series.
Other points of interest just outside of the downtown area include The Pruneyard, a 253,000 square foot specialty lifestyle center anchored
by Barnes and Noble, Marshalls, Trader Joe’s, and Camera One Cinemas. Additionally, The Pruneyard includes a newly renovated 171 boutique hotel and three class A office towers with over 400,000 square feet of rentable area. To the immediate west of downtown at E. Campbell Avenue and S. Winchester Boulevard is the Campbell Community Center which is comprised of a football field, soccer fields, baseball
diamond, and two gymnasiums. This facility brings in many visitors to the downtown district. The areas to the north and south of downtown
are primarily developed with single-family and low density multifamily residences which help provide a strong customer base for the commercial establishments downtown.
Campbell is one of the thirteen incorporated cities within Santa Clara County. Campbell has an extremely healthy demographic profile with
a population of 41,161 of which the median age is 39.4 years and an average household of 2.37 members. This youthful population has a
median household income over $96,548
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Property Photos
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
4
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Property Photos
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
5
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Improvements
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
6
This highly attractive three-story, mixed use building was constructed in 2006. The improvements were designed by the Steinberg Group,
an award winning architectural firm that is well known for its unique designs and attention to detail. The ground floor retail units are well
designed with glass storefronts, high ceilings, and individual ADA rest rooms.
The gross area of the building is 44,356 square feet with 10,906 rentable square feet of shop and restaurant space at street level. At the
mezzanine level above the retail is a fully finished 5,081 square feet that is built-out with five office suites. Each suite has separate HVAC,
electrical panels, and benefits from operable double pane windows. Above the retail and office mezzanine are two floors of luxury condominiums of which there are 22 units.
Other amenities include dining patios at the east and west side of the building, a separate entrance to the second floor office suite, and
landscaped clusters of terra-cotta pots along the front and sides of the building. One major amenity is the proximity of the new city parking
structure (301 spaces) that adjoins the property to the north.
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Tenant Information and Occupancy
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
7
Aqua Cal-Mex Restaurant features an innovative California style cuisine that builds on the international flavors of the Southwest, Asia, California, and Latin America. The restaurant was founded in 1994 and currently there are four restaurants operating in Campbell, Downtown
Willow Glen, Blossom Valley, and Cupertino. This restaurant concept is very popular with diners offering quick serve where customers
order at the counter and seat themselves. The restaurant also offers a full service bar with specialty Margaritas. Additionally, the interior of
the restaurant displays a high quality decor as well as outdoor dining patios.
Frost Cupcake is the newest retail tenant in the building. The company was co-founded by Jeff Starbeck, a well known restaurantaur in the
region and the founder of The Sonoma Chicken Coop. Frost Cupcake will be baking and decorating gourmet cupcakes on site. This highly
lucrative business has been catering based for a few years and their location at 199 E. Campbell Avenue will be their first retail location.
The founders of Frost Cupcake selected the downtown Campbell location over numerous other retail locations due to the pedestrian activity
and synergy along the one hundred block of Campbell Avenue.
Sonya Paz Fine Art Gallery is an exclusive art gallery featuring whimsical paintings, sculptures, clothing, and accessories by the artist herself, Sonya Paz. Although her artwork is featured in fine art galleries throughout the country including the Effusion Gallery in South Beach
Miami and Pop Gallery at Walt Disney Resort in Orlando, the Campbell location is her primary showroom.
Pure is a quick service health centered cafe that specializes in organic juices. The cafe is a popular destination for bicyclist and runners
coming off the nearby Los Gatos Trail for a healthy cold drink.
Gelato Classico is a franchise specialty restaurant serving Italian gelato and sorbetto. For over 30 years, Gelato Classico has been regarded as the top gelato maker in the United States. The company originated in San Francisco and serves other Bay Area location including
Palo Alto, Mountain View and Fremont. In addition to serving frozen treats, Gelato Classico also serves cakes, gourmet cookies, imported
Belgian candies, and specialty coffee drinks. This specialty food service has a consistently high rating on Yelp.
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Tenant Information and Occupancy
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
8
The building is in the final stage of lease-up and the Seller will guarantee the rent on the vacant 1,010 square foot retail unit at $30.00 per
square foot per year. In addition, the Seller will pay all triple-nets for that one year period and provide a brokerage commission equal tot
$6.00 per square foot. This unit is currently being improved with a vanilla shell including one ADA restroom.
At the close of escrow, the Seller is willing to guarantee the income on the remaining vacant office suites located on the second floor. Rent
will be guaranteed at $12.00 per square foot annual plus the triple-net expense. A leasing commission to equal to $3.00 per square foot will
also be offered by the Seller. There are currently five office suites that are fully built-out with very good quality improvements.
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Rent Roll
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
9
AddressSuiteTennantSq. Ft.Annual RentRent/SF/Yr.TermLeaseLeaseRentRentOptions
CommencementExprirationIncreaseIncrease
DateDate
Retail Suites
191 E. Campbell Ave.
Gelato Classico
974
$35,636.40
$36.59
10 yrs
8/9/2007
8/9/2017
3.50%
Annual
193 E. Campbell Ave.Pure
1,230
$33,948.00
$27.60
5 yrs
6/1/2010
6/1/2015
$3,050.40
6/1/2012None
195 E. Campbell Ave.
2,198
$48,795.60
$22.20
3 yrs
3/1/2009
3/1/2012NoneN/AYr 4 - $4,396.00
Sonya Paz
1-5 yr @ FMR
Yr 5 - $4,725.70
197 E. Campbell Ave.Vacant
1,010
$30,300.00
$30.00
TBD
TBD
TBD
TBD
TBD TBD
199 E. Campbell Ave.Frost Cupcake
1,074
$32,220.00
$30.00
5 yrs
2/11/2011
5/11/2016
$2,792.40
2/11/2014
1-5 yr @ FMR
$3,953.50
2/11/2015
201 E. Campbell Ave.
3.00%
Annual
2-5 yr @ FMR
Aqui’s Cal Mex
Subtotal Retail
4,420
$159,385.20
$36.06
10 yrs
5/29/2007
5/28/2017
10,906
Office Suites
175 E. Campbell Ave.
#203Vacant
1,002
TBD
TBD
TBD
TBD
TBD
TBD
TBD TBD
175 E. Campbell Ave.
#204Vacant
1,509
TBD
TBD
TBD
TBD
TBD
TBD
TBD TBD
175 E. Campbell Ave.
#205Vacant
1,509
TBD
TBD
TBD
TBD
TBD
TBD
TBD TBD
175 E. Campbell Ave.
#206Vacant
1,071
TBD
TBD
TBD
TBD
TBD
TBD
TBD TBD
175 E. Campbell Ave.
#207Vacant
1,260
TBD
TBD
TBD
TBD
TBD
TBD
TBD TBD
Subtotal Retail
Total 6,351
17,257 Square Feet
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Financial Overview
Downtown Campbell
Downtown Campbell Downtown Campbell
191-201 East191-201
Campbell
East
Avenue
Campbell
191-201
Avenue
East Campbell Avenue
Campbell, CA
Campbell,
95008 CA 95008 Campbell, CA 95008
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
Software: ARGUS
Software:
Ver.ARGU
15.0.
File: Downtown
File:Cam
Dow
Property Type:
Property
Office Typ
&R
Portf
Date: 4/1
Time: 4:00
Ref#:
Pag
10
Schedule OfSchedule
Prospective
Of Prospective
Cash Flow
Schedule
Cash Of
Flow
Prospective Cash Flow
In Inflated Dollars
In Inflated
for the
Dollars
Fiscalfor
Year
In
theInflated
Beginning
Fiscal Dollars
Year4/1/2011
Beginning
for the Fiscal
4/1/2011
Year Beginning 4/1/2011
For the Years
For
Ending
the Years EndingFor the Years Ending
Potential Gross
Potential
Revenue
Gross Revenue
Potential Gross Revenue
Base RentalBase
Revenue
Rental RevenueBase Rental Revenue
Base Rent Abatements
Base Rent Abatements
Base Rent Abatements
Year 1
Year 1 Year 2
Year
Year 12 Year 3
Year
Year 23 Year 4
Year
Year 34 Year 5
Year
Year 45 Year 6
Year
Year 56 Year 7
Year
Year 67 Year 8
Year
Year 78 Year 9
Year
Year 89 Year 10
Year 10
9 Yea
Mar-2012 Mar-2012Mar-2013 Mar-2012
Mar-2013Mar-2014 Mar-2013
Mar-2014Mar-2015 Mar-2014
Mar-2015Mar-2016 Mar-2015
Mar-2016Mar-2017 Mar-2016
Mar-2017Mar-2018 Mar-2017
Mar-2018Mar-2019 Mar-2018
Mar-2019Mar-2020 Mar-2019
Mar-2020Mar-2021 Mar-2020
Mar-2021Mar-2
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
$439,986
$439,986$467,157 $439,986
$467,157$482,676 $467,157
$482,676$498,450 $482,676
$498,450$518,207 $498,450
$518,207$547,344 $518,207
$547,344$555,286 $547,344
$555,286$561,502 $555,286
$561,502$571,920 $561,502
$571,920$577,222 $571,920
$577,222$573,0
(8,792)
(8,792)
(8,792)
(7,491)
(7,491) (21,176)
(21,176)
(7,491) (89,128) (21,176)
(89,128)
(89,128)
(7,491)
(7,491) (29,6
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Scheduled Base
Scheduled
RentalBase
Revenue
Rental
Scheduled
RevenueBase Rental Revenue
439,986
439,986 458,365
439,986
458,365 482,676
458,365
482,676 498,450
482,676
498,450 510,716
498,450
510,716 526,168
510,716
526,168 466,158
526,168
466,158 561,502
466,158
561,502 571,920
561,502
571,920 569,731
571,920
569,731 543,3
Expense Reimbursement
Expense Reimbursement
Revenue
Expense
Revenue
Reimbursement Revenue
Real Estate Taxes
Real Estate Taxes Real Estate Taxes
63,985
63,985 68,022
63,985
68,022 69,383
68,022
69,383 70,768
69,383
70,768 72,184
70,768
72,184 73,628
72,184
73,628 75,101
73,628
75,101 76,602
75,101
76,602 78,135
76,602
78,135 79,698
78,135
79,698 81,2
Direct Assessments
Direct Assessments Direct Assessments
11,042
11,042 11,853
11,042
11,853 12,207
11,853
12,207 12,576
12,207
12,576 12,951
12,576
12,951 13,340
12,951
13,340 13,738
13,340
13,738 14,154
13,738
14,154 14,578
14,154
14,578 15,014
14,578
15,014 15,4
Insurance Insurance
Insurance
4,856
4,856
5,160
4,856
5,160
5,263
5,160
5,263
5,368
5,263
5,368
5,477
5,368
5,477
5,585
5,477
5,585
5,698
5,585
5,698
5,810
5,698
5,810
5,927
5,810
5,927
6,046
5,927
6,046
6,1
ManagementManagement
Management
9,242
9,242
9,822
9,242
9,822 10,021
10,021
9,822 10,221
10,021
10,221 10,425
10,221
10,425 10,633
10,425
10,633 10,846
10,633
10,846 11,064
10,846
11,064 11,283
11,064
11,283 11,510
11,283
11,510 11,7
Utilities - Electric
Utilities - Electric
Utilities - Electric
4,602
4,602
4,892
4,602
4,892
4,989
4,892
4,989
5,089
4,989
5,089
5,190
5,089
5,190
5,294
5,190
5,294
5,400
5,294
5,400
5,510
5,400
5,510
5,618
5,510
5,618
5,730
5,618
5,730
5,8
Fire Monitoring
FireService
Monitoring Service
Fire Monitoring Service
1,477
1,477
1,570
1,477
1,570
1,601
1,570
1,601
1,633
1,601
1,633
1,667
1,633
1,667
1,699
1,667
1,699
1,736
1,699
1,736
1,769
1,736
1,769
1,805
1,769
1,805
1,839
1,805
1,839
1,8
LandscapingLandscaping
Landscaping
1,411
1,411
1,499
1,411
1,499
1,531
1,499
1,531
1,560
1,531
1,560
1,591
1,560
1,591
1,625
1,591
1,625
1,656
1,625
1,656
1,689
1,656
1,689
1,723
1,689
1,723
1,757
1,723
1,757
1,7
Telephone - Telephone
Fire Monitoring
- Fire Monitoring
Telephone - Fire Monitoring
234
234
249
234
249
256
249
256
262
256
262
273
262
273
278
273
278
289
278
289
296
289
296
306
296
306
316
306
316
3
Trash
Trash
Trash
6,895
6,895
7,331
6,895
7,331
7,477
7,331
7,477
7,626
7,477
7,626
7,779
7,626
7,779
7,935
7,779
7,935
8,095
7,935
8,095
8,255
8,095
8,255
8,421
8,255
8,421
8,590
8,421
8,590
8,7
Water - Fire Water
Service- Fire Service Water - Fire Service
359
359
382
359
382
390
382
390
398
390
398
406
398
406
413
406
413
422
413
422
431
422
431
437
431
437
448
437
448
4
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Total Reimbursement
Total Reimbursement
Revenue Total
Revenue
Reimbursement Revenue104,103
104,103 110,780
104,103
110,780 113,118
110,780
113,118 115,501
113,118
115,501 117,943
115,501
117,943 120,430
117,943
120,430 122,981
120,430
122,981 125,580
122,981
125,580 128,233
125,580
128,233 130,948
128,233
130,948 133,7
Non-Refundable
Non-Refundable
Deposits
Deposits
Non-Refundable Deposits
Earned Interest
Earned Interest
Earned Interest
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Total Potential
Total
Gross
Potential
Revenue
GrossTotal
Revenue
Potential Gross Revenue 544,089
544,089 569,145
544,089
569,145 595,794
569,145
595,794 613,951
595,794
613,951 628,659
613,951
628,659 646,598
628,659
646,598 589,139
646,598
589,139 687,082
589,139
687,082 700,153
687,082
700,153 700,679
700,153
700,679 677,0
General Vacancy
General Vacancy
General Vacancy
(16,323)
(16,323) (17,074) (16,323)
(17,074) (17,874) (17,074)
(17,874) (18,419) (17,874)
(18,419) (18,860) (18,419)
(18,860) (19,398) (18,860)
(19,398) (17,674) (19,398)
(17,674) (20,612) (17,674)
(20,612) (21,005) (20,612)
(21,005) (21,020) (21,005)
(21,020) (20,3
Collection Loss
Collection Loss
Collection Loss
(10,882)
(10,882) (11,383) (10,882)
(11,383) (11,916) (11,383)
(11,916) (12,279) (11,916)
(12,279) (12,573) (12,279)
(12,573) (12,932) (12,573)
(12,932) (11,783) (12,932)
(11,783) (13,742) (11,783)
(13,742) (14,003) (13,742)
(14,003) (14,014) (14,003)
(14,014) (13,5
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Effective Gross
Effective
Revenue
Gross Revenue
Effective Gross Revenue
516,884
516,884 540,688
516,884
540,688 566,004
540,688
566,004 583,253
566,004
583,253 597,226
583,253
597,226 614,268
597,226
614,268 559,682
614,268
559,682 652,728
559,682
652,728 665,145
652,728
665,145 665,645
665,145
665,645 643,2
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Operating Expenses
Operating Expenses Operating Expenses
Real Estate Taxes
Real Estate Taxes Real Estate Taxes
66,683
66,683 68,016
66,683
68,016 69,377
68,016
69,377 70,764
69,377
70,764 72,180
70,764
72,180 73,623
72,180
73,623 75,096
73,623
75,096 76,598
75,096
76,598 78,129
76,598
78,129 79,692
78,129
79,692 81,2
Direct Assessments
Direct Assessments Direct Assessments
11,505
11,505 11,850
11,505
11,850 12,206
11,850
12,206 12,572
12,206
12,572 12,949
12,572
12,949 13,338
12,949
13,338 13,738
13,338
13,738 14,150
13,738
14,150 14,574
14,150
14,574 15,012
14,574
15,012 15,4
Insurance Insurance
Insurance
5,059
5,059
5,160
5,059
5,160
5,263
5,160
5,263
5,368
5,263
5,368
5,476
5,368
5,476
5,585
5,476
5,585
5,697
5,585
5,697
5,811
5,697
5,811
5,927
5,811
5,927
6,046
5,927
6,046
6,1
ManagementManagement
Management
9,631
9,631
9,824
9,631
9,824 10,020
10,020
9,824 10,221
10,020
10,221 10,425
10,221
10,425 10,633
10,425
10,633 10,846
10,633
10,846 11,063
10,846
11,063 11,284
11,063
11,284 11,510
11,284
11,510 11,7
Utilities - Electric
Utilities - Electric
Utilities - Electric
4,795
4,795
4,891
4,795
4,891
4,988
4,891
4,988
5,088
4,988
5,088
5,190
5,088
5,190
5,294
5,190
5,294
5,400
5,294
5,400
5,508
5,400
5,508
5,618
5,508
5,618
5,730
5,618
5,730
5,8
Fire Monitoring
FireService
Monitoring Service
Fire Monitoring Service
1,539
1,539
1,569
1,539
1,569
1,601
1,569
1,601
1,633
1,601
1,633
1,665
1,633
1,665
1,699
1,665
1,699
1,733
1,699
1,733
1,767
1,733
1,767
1,803
1,767
1,803
1,839
1,803
1,839
1,8
LandscapingLandscaping
Landscaping
1,470
1,470
1,499
1,470
1,499
1,529
1,499
1,529
1,560
1,529
1,560
1,591
1,560
1,591
1,623
1,591
1,623
1,655
1,623
1,655
1,689
1,655
1,689
1,722
1,689
1,722
1,757
1,722
1,757
1,7
Telephone - Telephone
Fire Monitoring
- Fire Monitoring
Telephone - Fire Monitoring
243
243
248
243
248
256
248
256
263
256
263
271
263
271
280
271
280
288
280
288
297
288
297
305
297
305
315
305
315
3
Trash
Trash
Trash
7,186
7,186
7,330
7,186
7,330
7,477
7,330
7,477
7,626
7,477
7,626
7,779
7,626
7,779
7,934
7,779
7,934
8,093
7,934
8,093
8,255
8,093
8,255
8,420
8,255
8,420
8,588
8,420
8,588
8,7
Water - Fire Water
Service- Fire Service Water - Fire Service
374
374
382
374
382
389
382
389
397
389
397
405
397
405
413
405
413
421
413
421
430
421
430
438
430
438
447
438
447
4
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Total Operating
Total
Expenses
Operating Expenses
Total Operating Expenses
108,485
108,485 110,769
108,485
110,769 113,106
110,769
113,106 115,492
113,106
115,492 117,931
115,492
117,931 120,422
117,931
120,422 122,967
120,422
122,967 125,568
122,967
125,568 128,220
125,568
128,220 130,936
128,220
130,936 133,7
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Net Operating
Net
Income
Operating IncomeNet Operating Income
408,399
408,399 429,919
408,399
429,919 452,898
429,919
452,898 467,761
452,898
467,761 479,295
467,761
479,295 493,846
479,295
493,846 436,715
493,846
436,715 527,160
436,715
527,160 536,925
527,160
536,925 534,709
536,925
534,709 509,5
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Leasing
& Capital
Leasing
Costs
& Capital Costs
Leasing & Capital Costs
CAP
RATE
7.1% 7.5%
TenantPRICE
Improvements
Tenant ImprovementsTenant Improvements
52,777
52,777
52,777
SALE
$5,795.000.00
Leasing Commissions
Leasing CommissionsLeasing Commissions
17,107
17,107
17,107
14,044
14,044 55,520
14,044
55,520 80,037
55,520
80,037
80,037
14,044
14,044 58,4
Security Deposits
Security Deposits
‑ Security Deposits
Investment of
Investment
Capital of CapitalInvestment of Capital
Distribution from
Distribution
Investment
from Investment
Distribution from Investment
(4,000)
(4,000)
(4,000)
Deposit Refund
Deposit Refund
Deposit Refund
4,000
4,000
4,000
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Total Leasing
Total
& Capital
Leasing
Costs
& Capital
Total
Costs
Leasing & Capital Costs
17,107
17,107
17,107
14,044
14,044 55,520
14,044
55,520 132,814
132,814
55,520
132,814
14,044
14,044 58,4
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
___________
________
Cash Flow Before
Cash Flow
Debt Before
ServiceDebt
Cash
Service
Flow Before Debt Service$408,399 $408,399$412,812 $408,399
$412,812$452,898 $412,812
$452,898$467,761 $452,898
$467,761$465,251 $467,761
$465,251$438,326 $465,251
$438,326$303,901 $438,326
$303,901$527,160 $303,901
$527,160$536,925 $527,160
$536,925$520,665 $536,925
$520,665$451,0
& Taxes
& Taxes
& Taxes
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
===========
========
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Revenue/Expense
Revenue/Expense
Notes
Notes
Revenue/Expense Notes
Maps
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
Reg i on a l Ma p
11
Loca l S t reet Ma p
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Aerial Map
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
12
te
Si
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Site Plan
gelato
Classico
quiznos
sonya paz
vacant 1,010 SF
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
Frost
13
aquis
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Site Plan
Seco n d Floor Office
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
14
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.
Argus Spreadsheet
191-201 e AS T cA MPBELL Av enue, cA MPBELL , Ca l if orni a 9 5 0 0 8
15
Software: ARGUS Ver. 15.0.0.53
File: Downtown Campbell
Property Type: Office & Retail
Portfolio:
Date: 4/19/11
Time: 4:00 pm
Ref#: ALA
Page: 1
Downtown Campbell
191-201 East Campbell Avenue
Campbell, CA 95008
Schedule Of Prospective Cash Flow
In Inflated Dollars for the Fiscal Year Beginning 4/1/2011
For the Years Ending
Potential Gross Revenue
Base Rental Revenue
Base Rent Abatements
Scheduled Base Rental Revenue
Expense Reimbursement Revenue
Real Estate Taxes
Direct Assessments
Insurance
Management
Utilities - Electric
Fire Monitoring Service
Landscaping
Telephone - Fire Monitoring
Trash
Water - Fire Service
Total Reimbursement Revenue
Year 1
Mar-2012
___________
Year 2
Mar-2013
___________
Year 3
Mar-2014
___________
___________
439,986
$467,157
(8,792)
___________
458,365
___________
482,676
63,985
11,042
4,856
9,242
4,602
1,477
1,411
234
6,895
359
___________
104,103
68,022
11,853
5,160
9,822
4,892
1,570
1,499
249
7,331
382
___________
110,780
___________
544,089
(16,323)
(10,882)
___________
516,884
___________
66,683
11,505
5,059
9,631
4,795
1,539
1,470
243
7,186
374
___________
108,485
___________
408,399
___________
$439,986
Year 5
Mar-2016
___________
Year 6
Mar-2017
___________
Year 7
Mar-2018
___________
Year 8
Mar-2019
___________
___________
498,450
$518,207
(7,491)
___________
510,716
$547,344
(21,176)
___________
526,168
$555,286
(89,128)
___________
466,158
___________
561,502
69,383
12,207
5,263
10,021
4,989
1,601
1,531
256
7,477
390
___________
113,118
70,768
12,576
5,368
10,221
5,089
1,633
1,560
262
7,626
398
___________
115,501
72,184
12,951
5,477
10,425
5,190
1,667
1,591
273
7,779
406
___________
117,943
73,628
13,340
5,585
10,633
5,294
1,699
1,625
278
7,935
413
___________
120,430
75,101
13,738
5,698
10,846
5,400
1,736
1,656
289
8,095
422
___________
122,981
___________
569,145
(17,074)
(11,383)
___________
540,688
___________
___________
595,794
(17,874)
(11,916)
___________
566,004
___________
___________
613,951
(18,419)
(12,279)
___________
583,253
___________
___________
628,659
(18,860)
(12,573)
___________
597,226
___________
___________
646,598
(19,398)
(12,932)
___________
614,268
___________
68,016
11,850
5,160
9,824
4,891
1,569
1,499
248
7,330
382
___________
110,769
___________
429,919
___________
69,377
12,206
5,263
10,020
4,988
1,601
1,529
256
7,477
389
___________
113,106
___________
452,898
___________
70,764
12,572
5,368
10,221
5,088
1,633
1,560
263
7,626
397
___________
115,492
___________
467,761
___________
72,180
12,949
5,476
10,425
5,190
1,665
1,591
271
7,779
405
___________
117,931
___________
479,295
___________
73,623
13,338
5,585
10,633
5,294
1,699
1,623
280
7,934
413
___________
120,422
___________
493,846
___________
$482,676
Year 4
Mar-2015
___________
$498,450
Year 10
Mar-2021
___________
Year 11
Mar-2022
___________
___________
571,920
$577,222
(7,491)
___________
569,731
$573,005
(29,652)
___________
543,353
76,602
14,154
5,810
11,064
5,510
1,769
1,689
296
8,255
431
___________
125,580
78,135
14,578
5,927
11,283
5,618
1,805
1,723
306
8,421
437
___________
128,233
79,698
15,014
6,046
11,510
5,730
1,839
1,757
316
8,590
448
___________
130,948
81,290
15,464
6,167
11,742
5,845
1,876
1,793
323
8,761
456
___________
133,717
___________
589,139
(17,674)
(11,783)
___________
559,682
___________
___________
687,082
(20,612)
(13,742)
___________
652,728
___________
___________
700,153
(21,005)
(14,003)
___________
665,145
___________
___________
700,679
(21,020)
(14,014)
___________
665,645
___________
___________
677,070
(20,312)
(13,541)
___________
643,217
___________
75,096
13,738
5,697
10,846
5,400
1,733
1,655
288
8,093
421
___________
122,967
___________
436,715
___________
76,598
14,150
5,811
11,063
5,508
1,767
1,689
297
8,255
430
___________
125,568
___________
527,160
___________
78,129
14,574
5,927
11,284
5,618
1,803
1,722
305
8,420
438
___________
128,220
___________
536,925
___________
79,692
15,012
6,046
11,510
5,730
1,839
1,757
315
8,588
447
___________
130,936
___________
534,709
___________
81,286
15,462
6,167
11,740
5,845
1,875
1,792
324
8,760
456
___________
133,707
___________
509,510
___________
$561,502
Year 9
Mar-2020
___________
$571,920
Non-Refundable Deposits
Earned Interest
Total Potential Gross Revenue
General Vacancy
Collection Loss
Effective Gross Revenue
Operating Expenses
Real Estate Taxes
Direct Assessments
Insurance
Management
Utilities - Electric
Fire Monitoring Service
Landscaping
Telephone - Fire Monitoring
Trash
Water - Fire Service
Total Operating Expenses
Net Operating Income
Leasing & Capital Costs
Tenant Improvements
Leasing Commissions
Security Deposits
Investment of Capital
Distribution from Investment
Deposit Refund
17,107
___________
Total Leasing & Capital Costs
Cash Flow Before Debt Service
& Taxes
Revenue/Expense Notes
Management
___________
$408,399
===========
___________
17,107
___________
$412,812
===========
14,044
___________
___________
___________
$452,898
===========
___________
$467,761
===========
___________
14,044
___________
$465,251
===========
55,520
___________
55,520
___________
$438,326
===========
52,777
80,037
(4,000)
4,000
___________
132,814
___________
$303,901
===========
14,044
___________
___________
___________
$527,160
===========
___________
$536,925
===========
___________
14,044
___________
$520,665
===========
58,432
___________
58,432
___________
$451,078
===========
Aquis 4% of Base Rent
Others 15% of CAM
15 4 3 l a fay ette st r eet ∙ s u i te c ∙ S a n ta Cl a r a ∙ CA ∙ 9 5 0 5 0 | O f f i ce 4 0 8.87 9.4 0 0 0 | fa x 4 0 8.87 9.4 0 0 4 | w w w. p r i m ec o m m e rci a l i n c.c o m
The information contained herein has been obtained from sources we deem reliable. We cannot, however assume responsibility for its accuracy.