CONTENTS. Neighborhood Aerial View... Page 12 City Map... Page 13 Regional Map... Page 14 Parcel Map... Page 15. Page 2

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1 MULTI-TENANT RETAIL BUILDING Hartz Avenue, CA FOR SALE OFFERED AT $1,250,000 SHAWN WILLIS INCOME PROPERTY SERVICES 1343 Locust Street, Suite 205 Walnut Creek, CA DRE # Page

2 CONTENTS Contents...Page 2 Executive Summary...Page 3 Schedule of Leases...Page 4 Financial Analysis & Investment Summary...Page 5 Comparables... Pages 6-11 Rent Survey & Photos Rent Survey Map Sales Comparables & Photos Sales Comparables Map Neighborhood Aerial View... Page 12 City Map... Page 13 Regional Map... Page 14 Parcel Map... Page 15 Copyright 2012 Income Property Services. All rights reserved. The information provided herein is for general purposes only and is subject to change without notice. Nothing contained herein is intended to a binding representation. The owner and broker make no representation as to the information contained herein, or as to the character, occupancy, or configuration of the property described herein. It is the responsibility of the prospective buyer to independently verify all of the information. Page 2

3 NARRATIVE The subject property is a single story, block building completed in approximately 1953, located in desirable, downtown. The building has excellent visibility and identity near the intersection of Hartz Avenue and Linda Mesa. It was designed for retail with space/size flexibility in mind, plumbing for restrooms in each unit, separate metering for all utilities, plus abundant storefront windows. The property is zoned Downtown Zoning District 4, per the Town of. This allows flexibility in types of retail business uses. There is a total population of 70,375 within a three mile radius and an average daytime population of 104,928. There are 38,792 households within a 3 mile radius with an average income of $153,100. HIGHLIGHTS ADDRESS Hartz Avenue,, CA BUILDING SQ. FT. Approximately 3,550 +/- (per Contra Costa County) LOT SIZE 5,489 s.f. /.126 Acres +/- (per Contra Costa County) YEAR BUILT Approximately 1953 (per Contra Costa County) APN THOMAS BROTHERS 652J2 ZONING DB4 or Downtown Business District 4 DESCRIPTION One story, multi-tenant retail building CONSTRUCTION Block ROOF Pitched, rolled composition HVAC Individual UTILITIES Separately metered PARKING Currently 5 on site spaces. [1] [1] Town of, however, has filed notice of intention to acquire a portion of the property through eminent domain as part of the town s beautification project. Please contact listing broker for more information. Page 3

4 SCHEDULE OF LEASES SUITE # TENANT NAME APPROX. RENTABLE SQ. FT. % OF BLDG. CURRENT MONTHLY RENT CURRENT MONTHLY RENT/USF ESTIMATED MARKET RENT MARKET MONTHLY RENT/USF ORIGINAL LEASE COMMENCEMENT EXPIRATION INCREASE OPTION 183 Tana's Nail Salon 1, % $2, $1.61 $2, $2.00 3/21/1996 3/31/2015 N/A N/A 179 Savage Signs 1, % $1, $0.92 $2, $ /8/2011 MTM N/A N/A 181 AVAILABLE 1, % $0.00 $0.00 $2, $2.00 N/A N/A N/A N/A TOTALS 3, % $3, $0.93 $6, $2.00 Architect s conceptual rendering of façade improvements with neighboring parcel included By William Wood Architects (925)

5 FINANCIAL ANALYSIS & INVESTMENT SUMMARY TENANTS APPROXIMATE RENTABLE SQ. FEET CURRENT CURRENT RENT/ SQ FT ESTIMATED MARKET RENTS RENT/ SQ FT Nail Salon 1,398 $2, $2, Sign Shop 1,083 $1, $2, AVAILABLE 1,013 $0 - $2, TOTALS [1] 3,494 $3,248 $6,988 INCOME MONTHLY RENT $3,248 $6,988 ANNUAL RENT $38,976 $83,856 VACANCY/BAD DEBT 5.00% ($1,949) $0 GROSS RENT $37,027 $83,856 NNN Recapture [2] $0 $21,555 TOTAL INCOME $37,027 $105,411 EXPENSES GROUNDS Actual $0 $0 INSURANCE Actual $2,891 $2,891 PROPERTY TAXES % $13,650 $15,288 LEVIES AND ASSESSMENTS Actual $876 $876 REPAIRS & MAINTENANCE Estimated $1,500 $1,500 REPLACEMENT RESERVE Estimated $1,000 $1,000 PG&E/UTILITIES Tenants $0 $0 WATER Tenants $0 $0 MANAGEMENT Estimated $0 $0 TOTAL EXPENSES $19, $21, NET OPERATING INCOME $17,110 $83,856 DEBT SERVICE ($48,129) ($48,129) CASH FLOW ($31,019) $35,727 PRINCIPAL PAY-DOWN $17,520 $17,520 TOTAL RETURN ($13,499) $53,247 CAP RATE 1.37% 6.71% PRICE PER FOOT $ $ CASH ON CASH -6.2% 7.1% TOTAL PRE-TAX RETURN -2.7% 10.6% LISTING PRICE $1,250,000 $1,250,000 DOWN PAYMENT $500,000 40% $500,000 40% PROPOSED FIRST LOAN [3] $750,000 60% $750,000 60% [1] County tax record indicates 3,550 s.f.-buyer TO VERIFY [2] None currently; projected [3] 4.125%, 25 year amortization - SBA Financing may also be available Page 5

6 DANVILLE RENT SURVEY & PHOTOS Hartz Ave Hartz Ave. 121 Hartz Ave. 100 Railroad Ave. 294 Railroad Ave. 290 Rose Ave. 1 Railroad Ave. 101 Sycamore Valley Road, 3,000 square feet, high identity retail building in the heart of downtown. 5,077 s.f. with onsite parking, next door to subject property, 100% occupancy, near Trader Joe's Total available is 1,275 square feet (completed lease, not asking rent) 7,887 s.f. one a block from Trader Joe's, plumbing for 8 restrooms, 9 HVACs, and many windows. Total of 3,260 square feet, with 1,310 currently available 5,604 s.f. available, 1,238 square feet anchored by Trader available in twostory street retail, offstreet parking available Joe's and Starbuck's, a center that benefits from high traffic counts, new construction, 16 security cameras Total space 13,868 s.f., minimum of 610 s.f., anchored by Piatti's, Forbes Mill Steakhouse, and Elegant Clutter. Livery & Mercantile is a premier shopping and dining destination $1.62/s.f./mo Modified Gross (current average) $1.75/s.f./mo NNN $2.66/s.f./mo Modified Gross (closed transaction) $2.07/s.f./mo Modified Gross $3.00/s.f./mo $1.85/s.f./mo Modified Gross $2.75 to $3.50/s.f./mo NNN $3.00/s.f./mo NNN Page 6

7 RENT SURVEY PHOTOS Hartz Avenue 121 Hartz Avenue 100 Railroad Avenue 294 Railroad Ave. 290 Rose Avenue 1 Railroad Avenue 101 Sycamore Valley Road. Page 7

8 RENT SURVEY MAP Hartz Avenue 290 Rose Avenue 121 Hartz Avenue 1 Railroad Avenue SUBJECT PROPERTY Hartz Avenue 100 Railroad Avenue 294 Railroad Avenue 101 Sycamore Valley Road Page 8

9 SALES COMPARABLES ADDRESS SALE PRICE SQ. FEET COST/S.F. CAP BUILT SOLD COMMENTS Hartz Avenue $1,635,000 5,077 $ % / Single story retail building, 100% occupied. Investor purchase for 1031 exchange. Seller financing of $413, W. Linda Mesa $765,000 1,333 $ N/A / Single story retail building purchased by owner/user for occupancy. Buyer received $10,000 credit for repairs. All cash purchase Mt. Diablo Blvd. (Walnut Creek) $503,000 1,462 $ % / Single story retail building, currently occupied by "Tile & Stone" Owner/user purchase who will occupy building in two years as lease expires Locust Street (Walnut Creek) $1,450,000 3,024 $ N/A / Single story retail building, occupied by hair salon at COE, but quickly vacated. Investor purchase and property is back on the market for lease Locust Street (Walnut Creek) $1,150,000 3,564 $ N/A / Single story retail building, occupied by "Studio Blue" at COE, but quickly vacated. Investor purchase and property is back on the market for lease. 100 Railroad Avenue $2,300,000 7,887 $ % / Single story, multi-tenant commercial building. Purchased by financial planner who will initially occupy 800 s.f. and gradually move into 3,000 s.f. Office use grandfathered in and added value in sale. 271 Lafayette Circle (Lafayette) $1,200,000 2,500 $ N/A / Two story retail building one property south of Mt. Diablo Blvd. Purchased by owner/user with 30% cash down. Buyer will renovate building and open a cooking school. 770 San Ramon Valley Blvd. $1,815,000 4,652 $ N/A / Two story office building, medical zoning, owner/user purchase. Class "B," 14,000 s.f. lot, 4.3 to 1 parking ratio Rheem Blvd. (Moraga) $1,400,000 4,304 $ N/A / Multi-tenant retail purchased by existing tenant, owner of "Chef Chao" restaurant. 50% down to new loan from California Bank of Commerce Hartz Avenue $2,600,000 6,030 $ % / Multi-tenant retail purchased by Town of. All cash purchase. Re-alignment of Hartz Avenue to occur as well as some re-tenanting at which time Town of plans to remarket the property. AVERAGES $1,481,800 3,983 $ % Page 9

10 SALES COMPARABLE PHOTOS Hartz Avenue 120 West Linda Mesa 2073 Mt. Diablo Blvd, Walnut Creek 1325 Locust St, Walnut Creek 1323 Locust Street, Walnut Creek 100 Railroad Avenue, 271 Lafayette Circle, Lafayette 770 San Ramon Valley Blvd Page Rheem Blvd, Moraga Hartz Ave,

11 SALES COMPARABLES MAP 1325 Locust St Walnut Creek 2073 Mt Diablo Blvd Walnut Creek 1323 Locust St Walnut Creek 271 Lafayette Circle Lafayette Hartz Ave SUBJECT PROPERTY Hartz Avenue Rheem Blvd Moraga Hartz Avenue 100 Railroad Avenue 120 West Linda Mesa 770 San Ramon Valley Blvd Page 11

12 NEIGHBORHOOD AERIAL VIEW SUBJECT PROPERTY Hartz Avenue, California Page 12

13 CITY MAP SUBJECT PROPERTY Hartz Avenue, California Page 13

14 REGIONAL MAP SUBJECT PROPERTY Hartz Avenue, California Page 14

15 PARCEL MAP SUBJECT PROPERTY Hartz Avenue, California Page 15