161 West 25th Ave. SAN MATEO

Transcription

1 161 West 25th Ave. SAN MATEO

2 PROPERTY PROFILE SAN MATEO CITY PROFILE APN: BUILDING SIZE: 11,625 SqFt* RENTABLE SQFT: 11,264 SqFt* LOT SIZE: 6,300 SqFt* STORIES: 2 UNITS: 30 LAND USE: OFFICE BUILDING Located in the other downtown corridor of San Mateo, this professional office building provides high visibility and close proximity to many shops, restaurants, and service-oriented retailers. Situated near the intersection of El Camino Real, it is just half a mile north of the Hillsdale Shopping Center and Caltrain Station, and half a mile south of the 92 Freeway. San Mateo is a city on the San Francisco Peninsula in Northern California s Bay Area, approximately 20 miles south of San Francisco, and 31 miles northwest of San Jose. San Mateo had an estimated 2017 population of 104,748. According to the American Community Survey 5-Year estimate, the median income for a household in the city was $95,667, and the median income for a family was $110,228. The per capita income for the city was $49,227 The economy of San Mateo would best be considered very diverse with jobs in the technology, health care, financial services, government, and retail trade fields being among the most numerous. The San Mateo housing market is one of the most expensive in the country. In February 2018, the median San Mateo home was valued at $1,463,900, and the median rent was ninth in the entire nation at $2,242 per month.

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4 RENT ROLL & NET OPERATING INCOME Room # Size/ SF Tenant Term Price/ SF Month Rent Annual Rent Security Deposit Rate Increase Commence Expire Annum 101A 194 Reta Coolin 2/1/2014 1/31/2019 $2.58 $500 $6,000 $ % 101B 248 Kay Coddington 3/1/2017 1/31/2019 $3.09 $766 $9,192 $2, % 101C 313 Kathleen Terry 2/1/2014 1/31/2019 $2.58 $807 $9,684 $ % 101D 323 Merle Saber 2/1/2014 1/31/2019 $2.58 $832 $9,984 $ % 102A 142 Sung-Bae Bae DBA 777 Express 9/1/2017 8/31/2020 $3.25 $462 $5,544 $ % 102B 472 The Betty Mills Company, Inc. 2/1/2017 1/31/2019 $2.58 $1, $14,585 3% 102D 308 Vacant (Tennat under will sign next couple weeks) $3.50 $1, $14,585 $1, The Betty Mills Company, Inc. 2/1/2017 1/31/2019 $2.58 $ $9,233 3% Bay Electric Inc. 7/21/2017 6/30/2019 $2.99 $1, $14,952 $3, % James Cavagnaro 8/1/2016 7/31/2021 $2.65 $1, $16,812 $1, % The Skin Care Studio 6/1/2018 5/31/2019 $3.25 $728 $8,736 $1, Nathan Chan 6/1/2018 5/31/2021 $2.66 $1, $15,600 $2, % Innkeeper Card Services 10/15/18 10/31/2020 $3.50 $1, $14,868 $2, % Delong & Assct. DBA Padgett Bus. Service 5/1/2014 6/30/2020 $2.61 $1, $16,200 $1, % 110/109A 706 VestlnAm, Inc. DBA Comfort Keepers 1/1/ /31/2019 $2.50 $1, $21,180 $1, % 200 1,075 Allstate Insurance (or Michelle Pappe Insurance Agency) 8/1/2014 7/31/2020 $2.94 $3, $37,872 $3, % 201 / Craig Anderson 11/1/2012 6/30/2020 $2.66 $950 $11,400 $ % 201A 480 StateFarm - Jake Bursalyan 9/12/2018 9/30/2023 $3.50 $1, $20,160 $5, % 201B 311 AJA Investments, L.P. 9/1/2015 8/31/2020 $2.35 $ $8,768 $1, % The Betty Mills Company, Inc. 2/1/2017 1/31/2019 $2.58 $ $10,135 3% 202A 227 Ink+By Wendy LLC 8/1/2017 7/31/2019 $3.04 $690 $8,280 $1, % The Betty Mills Company, Inc. 1/1/ /31/2018 $2.58 $1, $21,136 $4, % 203A&204 1,142 Caminar 8/1/2016 3/31/2019 $2.25 $2, $30,840 $2, % Dreamics US Limited 1/1/ /31/2018 $2.62 $600 $7,200 $1, % 205A 201 E. Berns Consulting, LLC 9/18/ /30/2018 $2.58 $ $6,211 $ % Vacant (Tennat under will sign next couple weeks) $3.50 $1, $18, StateFarm - Jake Bursalyan 9/12/2018 9/30/2023 $3.50 $899.5 $10,794 3% Total 11,264 Total $31,532 $378,388 $41,346 Rental Income Actual Pro Forma $378,388 $3.50/SF Vacancy rate: 3% $- ($14,193) Management fees: 5% $- ($23,655) Effective gross income $378,388 $435,251 Expense Alarm $1,080 $1,080 Trash - Recology $6,512 $6,512 Supply $3,000 $3,000 Insurance $2,447 $4,894 Repair $4,200 $4,200 Water $900 $900 PG&E $14,400 $14,400 Comcast $675 $675 Janitor - Polaris $7,500 $7,500 Landscaping $1,200 $1,200 Subtotal $41,914 $44,361 *Property tax (based at $6.25M) $73,750 $73,750 *Estimated Net Income $262,724 $317,139 *Property tax is based on an assumed sale price of $6.25 Million. Estimated net income is a projection only. The information contained herein is not a substitute for a thorough due diligence investigation including reviewing rent rolls, lease agreements, tenant estoppels and other important documents that may affect the sale of the subject property. Green Banker has not made any investigation, and makes no warranty with respect to income or expenses, and current or any assumptions, estimates and projected financial performance of the property, the size and square footage of the property/units, property condition and features, financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the property/unit, tenant s current or projected performance. We advise interested buyers to independently make own investigations or to contract a professional to verify the correctness and take appropriate measures to verify all of the information contained here and or other documents provided to prospective buyer before completing the purchase.

5 Downtown San Mateo Hillsdale Shopping Center Call Stanley Lo Today! Primrose Road, Burlingame, CA Tel: (650) Fax: (650) Stanley Lo is a Licensed Real Estate Broker BRE# *All information is deemed reliable but not guaranteed by Green Banker and its agents. Information contained herein acquire from public and county records, provided by the sellers, and other sources. This brochure has been prepared only to provide of summary of unverified information to prospective buyers 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 including reviewing property and lot size square footage, permits, and other important documents that may affect the sale of the subject property. Green Banker has not made any investigation and makes no warranty with respect to the house/unit size and lot size of the property, property condition and features, and permits. We advise interested buyers to independently make own investigations or to contract a professional to verify the correctness and take appropriate measures to verify all of the information contained here and or other documents provided to prospective buyer before providing a signed offer or completing the purchase. If your property is presently listed with another agent, please disregard this offer as it is not our intention to solicit to clients of other agents.