Imperial Beach Retail
Transcription
Imperial Beach Retail
Imperial Beach Retail FOR SALE $1,340,000 F R E E S TA N D I N G N N N I N V E S T M E N T O P P O R T U N I T Y 1525 Palm Ave, Imperial Beach, CA 92154 Exclusively listed by Marc Karren CA LIC #01912607 760-803-5363 [email protected] FOR SALE THE OFFERING – Investment Summary | 1525 Palm Ave, Imperial Beach, CA 92154 OFFERING PRICE PRICE PER SF TERM REMAINING $1,340,000 $558 3 Years CAP RATE LAND PRICE PER SF OPTIONS 5.00% (YR 1) $69 (2) 5-Year Options TOTAL LAND AREA BASE RENT INCREASES 0.44 Acres 15% Every 5 Years TOTAL LAND FOOTAGE YEAR BUILT 19,211 SF 1990 5.77% (YR 4) Option NET OPERATING INCOME $67,200 (YR 1) $77,280 (YR 4) Option TOTAL BUILDING AREA OWNERSHIP 2,400 SF Fee Simple The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase. 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 2 THE OFFERING – Investment Highlights | 1525 Palm Ave, Imperial Beach, CA 92154 SITE FOR SALE Palm Ave –– Freestanding Retail Pad Investment Offering –– Single Tenant, Absolute NNN Lease –– Corporate Lease with nationally established tenant with over 1,000 locations nationwide –– Neighboring pads are El Pollo Loco & Rally’s restaurants –– 25 off-street parking spaces –– Outparcel to Bay City Plaza, 34,500 SF retail center –– 1/2 mile west of Interstate 5 on Palm Avenue –– Palm Ave is a busy six lane thoroughfare w/ 43,100 cars per day –– 3+ years remaining on the lease, plus options –– Substantial Tenant Improvements –– Flexible property characteristics for future drive through opportunity The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase. 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 3 FOR SALE THE PROPERTY – Property Overview | 1525 Palm Ave, Imperial Beach, CA 92154 ADDRESS SQUARE FEET 1525 Palm Ave, 2,400 Rentable Square Feet Imperial Beach, CA 92154 PARKING PARCEL 25 On-Site Parking Spots APN: 627-030-10 TRAFFIC COUNTS ZONING 43,100 + Vehicles per day CC-4-2 ADAPTABILITY LAND AREA Future Drive Through 0.44 Acre/19,122 SF Opportunity The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase. 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 4 FOR SALE THE PROPERTY – Area Map | 1525 Palm Ave, Imperial Beach, CA 92154 Palm Ave SITE El Pollo Loco Palm Ave Rally’s Bay City Plaza 16th St Bay City Plaza location The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase. 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 5 FOR SALE COMPETITIVE PROPERTY SET | 1525 Palm Ave, Imperial Beach, CA 92154 1535 Palm Avenue, San Diego, CA 92154 El Pollo Loco 1545 & 1531 Palm Ave, San Diego, CA 92154 Sale Date: 07/17/2014 Sale Price: $1,900,000 ($833.33/SF) Building Size: 2,280 SF Lot Size: 0.50 Acres 22 Surface Spaces are available; Ratio of 6.00/1,000 SF 3295 Palm Avenue, San Diego, CA 92154 Sale Price: $1,675,000 ($2,427.54/SF) Building Size: 690 SF Rally’s Hamburgers Lot Size: 0.44 Acres Sale Date: 05/31/2014 23 Surface Spaces are available 201 Palm Ave, Imperial Beach, CA 91932 Sale Date: 10/30/2015 Sale Price: $2,000,000 ($444.44/SF) Sale Date: 11/14/2014 Sale Price: $775,000 ($534.48/SF) Building Size: 4,500 SF Listing Price: $795,000 Lot Size: 0.52 Acres Building Size: 1,450 SF Lot Size: 0.12 Acres 14 free Surface Spaces are available 3 free Surface Spaces are available; Ratio of 2.08/1,000 SF The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase. 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 6 FOR SALE THE TENANT – Tenant Summary | 1525 Palm Ave, Imperial Beach, CA 92154 Fast Auto & Payday Loans is the leading provider of short-term consumer loans since 1994. Over 1,000 locations nationwide with over 100 in California. TENANT TRADE NAME OPTIONS Fast Auto & Payday Loans, Two (2) five (5) year options INC BASE RENT INCREASE OWNERSHIP 15% every 5 years Private Corporation ABSOLUTE NNN LEASE LEASE TERM REMAINING Zero Landlord responsibilities 3 years TENANT IMPROVEMENTS LEASE EXPIRATION $114,000 including new roof May 31, 2019 The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase. 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 7 FOR SALE THE MARKET – Surrounding Retail & Restaurants | 1525 Palm Ave, Imperial Beach, CA 92154 75 SITE Palm Ave Palm Ave 19th St Breakwater Shopping Center (Coming Soon) 13th St Imperial Beach Sign 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 8 FOR SALE THE MARKET – Demographics | 1525 Palm Ave, Imperial Beach, CA 92154 5 MILES 1 MILE 2010 2015 2020 Population 16,919 17,051 17,515 Households 6,316 6,372 6,555 Avg Household Income N/A $66,246 $75,014 3 MILES 2010 2015 2020 1 MILE Population 58,987 60,118 62,301 location Households 18,617 18,920 19,597 Avg Household Income N/A $63,249 $71,498 5 MILES 2010 2015 2020 Population 206,688 212,530 221,376 Households 63,200 64,617 67,218 Avg Household Income N/A $56,780 $64,192 3 MILES 2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 9