Montclair Office/Medical Building 4950 San Bernardino St, Montclair, CA 91763

Transcription

1 23 OFFICE/MEDICAL CONDOS FOR SALE/LEASE Development by: Montclair Office/Medical Building 4950 San Bernardino St, Montclair, CA AL Capital, Inc Rowland St., #208 City of Industry, CA Tel: Fax: CalBRE #

2 Project: Vicinity Map Page 2

3 Aerial View SITE PLAN Page 3

4 Site Plan and Photos SITE PLAN Page 3

5 Site Description 23 Office/Medical condo units for sale and for lease. Year Built: Intense Renovation to be completed around Summer Total lot size is about 2.88 acres. Building is 1 Story high and totals approximately 27,385 SF. Offices range in size from 765 SF to 1,672 SF (units can be easily combined). Located 500 feet east of Monte Vista Ave on the north side of San Bernardino St. Building is located in a medical plaza with Montclair Hospital Medical Center, Community Extended Care Hospital, and Montclair Royale (assisted living). The building next door is the Montclair Hospital Medical Center that currently has 102 beds. Demographic Information Montclair Claremont Upland Rancho Cucamonga Population 36,664 34,926 73, ,269 Household Income $50,266 $80,754 $64,797 $77,329 Page 4

6 Floor Plan Page 5

7 Office Condo Price List Suite # Total Gross Area Price per SF Purchase Price 100 1,007 $298 $300, ,603 $298 $477, A 949 $298 $282, ,672 $298 $498, ,291 $298 $384, ,168 $298 $348, ,138 $298 $339, ,652 $298 $492, ,306 $298 $389,188 Price as shown is for AS IS. Property is zoned for commercial use with medical use allowed. Broker Cooperation: 3% commission to selling brokers who represent the buyer/lessee in the completed transaction. Monthly association fees include property, fire, and liability insurance and CAM charge is approximately $0.28 per gross square foot. Page 6

8 Office Condo Price List Suite # Total Gross Area Price per SF Purchase Price 200 1,598 $298 $476, ,177 $298 $350, $298 $291, $298 $259, ,124 $298 $334, $298 $286, ,204 $298 $358, $298 $244, ,026 $298 $305, ,469 $298 $437, ,336 $298 $398, ,313 $298 $391, $298 $283, $298 $227,970 Price as shown is for AS IS. Property is zoned for commercial use with medical use allowed. Broker Cooperation: 3% commission to selling brokers who represent the buyer/lessee in the completed transaction. Monthly association fees include property, fire, and liability insurance and CAM charge is approximately $0.28 per gross square foot. Page 7

9 Purchase vs Lease Analysis* Unit Size 765 SF 1,168 SF 1,672 SF Purchase Price Ex. ($298 per/sf) Down Payment (10%) Mortgage (5% interest) Property Tax (1.08%) Association Fee ($0.28/SF) $227,970 $348,064 $498,256 $22,797 $34,806 $49,826 $855/mo. $1,305/mo. $1,868/mo. $203/mo. $313/mo. $448/mo. $214/mo. $327/mo. $468/mo. Total Monthly Payments $1,272 $1,945 $2,784 Lease Rate at $2/SF $1,530 $2,336 $3,344 Build up your own equity through mortgage payments. Take advantage of the historically low interest rates. Enjoy the property value appreciation. Pride of ownership, with great location & quality. Owner occupy or income property with good return on investment. No more tedious landlord relationship and surprise rent increases. Flexibility to sell or lease at any time. *based on current interest estimates Page 8

10 Financing Procedure 1. There is no need to work with a loan broker for your commercial financing. You can work with any commercial bank directly by calling their real estate department. 2. You may make an inquiry with the bank during the due diligence period. However for new construction, you may start the formal financing process 4 months prior to completion of the building. The appraisal report is only goodforabout6months. 3. When you meet with the bank, please provide a copy of your Purchase Agreement, three years of tax returns, and your personal financial statement. 4. Request a Letter of Interest from the lenders. 5. Select the most favorable lender, sign and return the Letter of Interest, and attach a check for the appraisal fee and any other fees requested by the lender. 6. After your lender has received your executed Letter of Interest and appraisal fee, etc., they will formally process your loan application. a. Foraconventionalloan,Loan-to-Valueratiocanbeupto75%andcantakeupto45days. b. For a Small Business Administration loan, Loan-to-Value ratio can be up to 90% and it can take an extra 30daystohavetheloanapproved. c. The time for approval may vary depending on the experience of your loan officer and whether you can timely provide the lender with the requested documents. 7. Orderandsigntheloandocumentseitherat yourbank sofficeorattheescrowcompany. Pleasekeepinmind thatthebankneedsaminimumof3daystofundaftersigning. 8. Onceyousigntheloandocuments,wiretransferthebalanceofyourdownpaymenttotheescrowcompany. 9. Yourlenderwillfundtheloanafteryourbalanceisreceivedbytheescrowcompany. 10.Once the escrow company receives the full purchase amount, it will record the Grant Deed with the county recorder sofficethe2 nd day. Congratulations,yourescrowisclosed! Page 9

11 Lenders Familiar with CGM Projects David Chan (626) Lisa Chiu (626) Brian Smith (562) Virginia Lee (626) Page 10

12 Introduction to Condominium Conversion Process First and foremost, CGM Development would like to thank you for your interest in our office condominium projects. To provide you with a better understanding of the condo conversion process, we would like to share the general process of how an existing building is converted into individual office or medical condo units that are available for purchase: 1. Our team of licensed civil engineers/land surveyors analyze and measure the existing building, including the common areas and individual units. They then use these measurements to draw a Tentative Map and a Condominium Plan, which shows the property boundaries (building boundaries and the borderlines of the individual units and common areas). CGM and its attorneys will also create CC&Rs to govern the property and owner s association. 2. The Tentative Map is submitted to the City and any other applicable government agencies for their review. Once approved, the civil engineer will create the Final Map to be recorded in the public records of the County Recorder. In addition, the CC&Rs is reviewed by the City and the City attorney. 3. After the City s approval, CGM sends the Final Map, CC&Rs and Condominium Plan to a reputable title insurance company for review. The title insurance company, through its legal/title/real estate department, then assists in creating the new legal description for each condo unit. 4. After obtaining the above reviews and approvals, the Final Map, CC&Rs and Condominium Plan are recordedinthepublicrecordsofthecountyrecorderandthecondounitsmaybeownedorsoldbyindividualor business owners. Page 11

13 CGM Development Past Projects Diamond Star Office Condo 2705 Diamond Bar Blvd, Diamond Bar, CA Nogales Plaza 2707 East Valley Blvd, West Covina, CA Grandview Medical Plaza Roswell Ave, Chino, CA Metro Centre Office Condo 3333 S Diamond Bar Blvd, Diamond Bar, CA Brea Canyon Office Condo 680 Brea Canyon Road, Diamond Bar, CA DB Office Condo 660 N Diamond Bar Blvd, Diamond Bar, CA Page 12

14 Marketing and Sales Team Any Question or Inquiries Please Contact: Peichin Lee Cell CalBRE# Gordon Lau Cell CalBRE# AL Capital, Inc. CalBRE# Rowland St., #208 City of Industry, CA x204 All information contained herein has been obtained from sources believed reliable. While we have no reason to doubt its accuracy, we make no guarantee, warranty or representation about it. Any estimates, projections, opinions or assumptions used are for example only. All information may be subject to change. Page 13