Coastal Restaurant Investment Property (Slater s 50/50)

Transcription

1 Coastal Restaurant Inestment Property (Slater s 50/50) 8082 Adams Aenue, Huntington Beach, CA ,000+ Cars Per Day 43,000+ Cars Per Day Newland Shopping Center Beach Bouleard Adams Aenue Subject Property

2 Exclusiely Listed By Ron Duong First Vice President Inestments Senior Director, National Retail Group (949) direct License: CA Michael Nitti Associate National Retail Group (949) direct License: CA Confidentiality Agreement The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reiewed only by the party receiing it from Marcus & Millichap and it should not be made aailable to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reiewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you hae no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap. This offering memorandum has been prepared to proide summary, unerified financial and physical information to prospectie purchasers, and to establish only a preliminary leel of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence inestigation. Marcus & Millichap has not made any inestigation, 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 improements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improements 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 offering memorandum has been obtained from sources we beliee to be reliable; howeer, Marcus & Millichap has not erified, and will not erify, any of the information contained herein, nor has Marcus & Millichap conducted any inestigation regarding these matters and makes no warranty or representation whatsoeer regarding the accuracy or completeness of the information proided. All potential buyers must take appropriate measures to erify all of the information set forth herein. Prospectie buyers shall be responsible for their costs and expenses of inestigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

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4 Executie Summary Irreplaceable Owner/User or Re-Tenant Opportunity Rare Opportunity to Purchase in Premier Coastal Community The Subject Property is Perfect for an Owner/User (Low Effectie Rent) or a Great Inestment with Potential To Lease to National/ Credit Tenant - Contact Agents for More Details Location Has Had Great Owner/User Track Record for the Last 20+ Years Located Off Beach Bld & Adams Ae Just Minutes From The Ocean Exceptional Real Estate Fundamentals & Affluent Demographics Easily Accessible Property with Access from both Beach Bouleard & Adams Aenue Excellent Exposure, Monument Sign, and Frontage on Adams Aenue Also Very Visible from Beach Bouleard Traffic Signal Ample Parking and Laissez Faire Common Area with Neighboring Property Owners Strong & Affluent Demographics with more than 352,834 people within fie miles and an aerage household income of $116,274 within three miles Located Just Blocks from Newly Mixed Use Deeloped Pacific City, Which includes 516 Condominiums, a 400 Room Hotel, Spa and Health Club, and 191,100 Square Feet of Retail An Ideal Huntington Beach Location - On Two Heaily-Trafficked Corridors, Beach Bouleard (43,000+ Cars Per Day) and Adams Aenue with (25,000+ Cars Per Day) Site is Situated Adjacent to Recently Renoated & Major Anchored Newland Center (Oer 152,186 Square Feet of Retail), Featuring Tenants Such as Albertsons, Mothers Market, Round Table Pizza, Coffee Bean and Tea Leaf, and Many More Surrounded By Hundreds of Recently Completed Luxury Apartments & Mixed Use Retail 173 Unit Multifamily Deelopment Directly Across From Subject Property on Beach Bouleard Coastal Restaurant Inestment Property - Huntington Beach, CA Marcus Millichap Actiity ID: X This information has been secured from sources we beliee to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must erify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Inestment Serices is a serice mark of Marcus & Millichap, Inc.

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6 Financial Analysis Offering Summary Property Address 8082 Adams Aenue Huntington Beach, CA Assessor s Parcel Number Current Occupancy 100% (See Right) Year Built 1987 Lot Size ±0.60 Acres (±26,185 Square Feet) Gross Leasable Area (GLA) ±5,500 Square Feet Pricing Price $2,735,000 Price Per Square Foot $ Aailable Financing* Loan Type SBA Loan Down Payment 15% / $410,250 Loan Amount 85% / $2,324,750 Interest Rate 4.58% Amortization 25-Year Lease Information Lease Expiration Date MTM Lease Type Gross Increases None Options None Annualized Operating Data Rental Income $174,000 Expenses Real Estate Taxes ( % + $7,187) $36,948 Insurance $550 Electricity $1,800 Maintenance $650 TOTAL EXPENSES $39,948 NET OPERATING INCOME $134,051 Cap Rate 4.90% Owner/User Analysis Approximate Monthly Payment $13, Effectie Rent Per Square Foot** $2.37/SF NNN *Loan Information is time sensitie and subject to change. **Effectie Rent is deried by diiding the approximate monthly loan payment by the total building square footage. Coastal Restaurant Inestment Property - Huntington Beach, CA Marcus Millichap Actiity ID: X

7 Walgreens Marbella Villas Luxury Apartments 173 Units 2016 Construction 25,000+ Cars Per Day 43,000+ Cars Per Day Newland Shopping Center Beach Bouleard Adams Aenue Subject Property Sea Bridge Villas

8 Property Description Aerial Photo Huntington Beach 16 Million Visitors Annually Walmart Pacific Ocean Starbucks McDonald s Huntington Shorecliffs Beach Bouleard La Questa Racquet Club Sea Bridge Villas 43,000+ Cars Per Day Subject Property Adams Aenue 25,000+ Cars Per Day

9 Property description continued Property Details THE OFFERING MECHANICAL Property Slater s 50/50 HVAC Yes Property Address SITE DESCRIPTION Gross Leasable Area 8082 Adams Aenue Huntington Beach, CA ±5,550 Square Feet Utilities ZONING PUD: Indiidually Metered Commercial Ownership Fee Simple Year Built 1987 Number of Stories One Parking Spaces 26 Topography Flat PARCELS Number of Tax Parcels 1 APN(s) CONSTRUCTION Foundation Framing Exterior Parking Surface Roof Concrete Wood Stucco Asphalt Flat Coastal Restaurant Inestment Property - Huntington Beach, CA Marcus Millichap Actiity ID: X This information has been secured from sources we beliee to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must erify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Inestment Serices is a serice mark of Marcus & Millichap, Inc.

10 Property description continued Regional Map Subject Property Coastal Restaurant Inestment Property - Huntington Beach, CA Marcus Millichap Actiity ID: X This information has been secured from sources we beliee to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must erify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Inestment Serices is a serice mark of Marcus & Millichap, Inc.

11 Property description continued Site Plan Adams Aenue Beach Bouleard Upcoming Restaurants and Shops Doggy Oernight Care & Groom Coastal Restaurant Inestment Property - Huntington Beach, CA Duong Retail Group Marcus Millichap Actiity ID: X *Site Plan is for representation purposes only and is not to scale. This information has been secured from sources we beliee to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must erify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Inestment Serices is a serice mark of Marcus & Millichap, Inc.

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13 Market Oeriew continued Location Oeriew The City Of Huntington Beach Huntington Beach is a seaside city within Orange County in Southern California. It is bordered by the Pacific Ocean on the west, and has been long known for its long 8.5 miles of beautiful beach, mild climate, and excellent surfing, earning it the nickname of Surf City. Surf, sand, sun and subtle sophistication encapsulate what the City of Huntington Beach is all about. The California lifestyle is synonymous with Huntington Beach. Dean Torrence, from the 1960 s pop group Jan and Dean, who co-authored the famous number one hit Surf City, said that Huntington Beach embodies the song s spirit of freedom and California fun. The city is also mentioned in the Beach Boys song Surfin Safari and in Surfer Joe by the Surfaris. Ocean swells, endless sunshine and a fleet of bobbing longboards hae played an instrumental role in earning the city its well-desered Surf City nickname. Nothing epitomizes the California surf culture more than HB. Boasting some of California s widest, cleanest, and safest beaches, the unofficial dress code has become a mix of wetsuits, bikinis and sandals accessorized by olleyballs, surf boards and beach towels. Named the Best City to Lie in Orange County by the Orange County Register readers, Huntington Beach offers residents a charming community with ideal weather, a diersified economy oerflowing with good jobs, a wide ariety of housing, an excellent educational system, boat marinas, numerous parks, and exemplary health care. The City of Huntington Beach is located along the Southern California coast in Orange County, 35 miles south of Los Angeles and 90 miles north of San Diego. Named for railroad magnate Henry Huntington who orchestrated its deelopment, the city is now an epicenter of actiity and entertainment with wide, sandy beaches. Coastal Restaurant Inestment Property - Huntington Beach, CA Duong Retail Group Marcus Millichap Actiity ID: X

14 Market Oeriew Demographic Summary POPULATION 1-MILE 3-MILES 5-MILES 2000 Population 29, , , Population 28, , , Population 29, , , Population 29, , ,109 HOUSEHOLDS 1-MILE 3-MILES 5-MILES 2000 Households 11,792 53, , Households 11,724 55, , Households 12,215 57, , Households 12,355 58, , Aerage Household Size Daytime Population 8,000 42, , Owner Occupied Housing 56.54% 64.57% 55.30% 2000 Renter Occupied Housing 41.27% 32.97% 42.02% 2000 Vacant 2.19% 2.46% 2.68% 2014 Owner Occupied Housing 57.65% 64.56% 54.98% 2014 Renter Occupied Housing 42.35% 35.44% 45.02% 2014 Vacant 0.66% 0.87% 1.06% 2019 Owner Occupied Housing 57.85% 64.38% 54.86% 2019 Renter Occupied Housing 42.15% 35.62% 45.14% 2019 Vacant 0.66% 0.88% 1.07% INCOME 1-MILE 3-MILES 5-MILES $0 - $14, % 6.4% 7.0% $15,000 - $24, % 6.2% 7.1% $25,000 - $34, % 6.6% 7.3% $35,000 - $49, % 10.0% 11.3% $50,000 - $74, % 16.0% 17.7% $75,000 - $99, % 13.6% 14.0% $100,000 - $124, % 11.8% 11.1% $125,000 - $149, % 8.4% 7.7% $150,000 - $199, % 10.3% 8.7% $200,000 - $ % 4.3% 3.3% $250, % 6.5% 4.9% 2014 Median Household Income $81,508 $83,537 $74, Per Capita Income $46,391 $44,871 $38, Aerage Household Income $112,829 $116,274 $103,820 Coastal Restaurant Inestment Property - Huntington Beach, CA Duong Retail Group Marcus Millichap Actiity ID: X

15 Market Oeriew continued Demographic Summary Geography - 5 Miles Population In 2014, the population in your selected geography is 352,833. The population has changed by 3.68% since It is estimated that the population in your area will be 356,109 fie years from now, which represents a change of 0.92% from the current year. The current population is 49.93% male and 50.06% female. The median age of the population in your area is 38.8, compare this to the Entire US aerage which is The population density in your area is 4, people per square mile. Households There are currently 130,663 households in your selected geography. The number of households has changed by 4.73% since It is estimated that the number of households in your area will be 132,204 fie years from now, which represents a change of 1.17% from the current year. The aerage household size in your area is 2.65 persons. Income In 2014, the median household income for your selected geography is $74,433, compare this to the Entire US aerage which is currently $51,972. The median household income for your area has changed by 22.05% since It is estimated that the median household income in your area will be $87,277 fie years from now, which represents a change of 17.25% from the current year. The current year per capita income in your area is $38,701, compare this to the Entire US aerage, which is $28,599. The current year aerage household income in your area is $103,820, compare this to the Entire US aerage which is $74,533 Race & Ethnicity The current year racial makeup of your selected area is as follows: 68.07% White, 1.10% Black, 0.36% Natie American and 16.26% Asian/Pacific Islander. Compare these to Entire US aerages which are: 71.60% White, 12.70% Black, 0.18% Natie American and 5.02% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 22.74% of the current year population in your selected area. Compare this to the Entire US aerage of 17.13%. Housing In 2000, there were 70,882 owner occupied housing units in your area and there were 53,869 renter occupied housing units in your area. The median rent at the time was $920. Employment In 2014, there are 153,624 employees in your selected area, this is also known as the daytime population. The 2000 Census reealed that 71.10% of employees are employed in white-collar occupations in this geography, and 28.83% are employed in blue-collar occupations. In 2014, unemployment in this area is 6.07%. In 2000, the aerage time traeled to work was 27.3 minutes. Coastal Restaurant Inestment Property - Huntington Beach, CA Marcus Millichap Actiity ID: X This information has been secured from sources we beliee to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must erify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Inestment Serices is a serice mark of Marcus & Millichap, Inc.

16 Ron Duong First Vice President Inestments Director, National Retail Group (949) direct License: CA Michael Nitti Associate National Retail Group (949) direct License: CA OFFICES NATIONWIDE