NAI THE WHITLATCH GROUP

Transcription

1 MORRO BAY MARINA 601 and 699 EMBARCADERO MORRO BAY, CALIFORNIA (SAN LUIS OBISPO COUNTY) $4,500,000

2 Morro Bay Marina Table of Contents About the Broker - 3 Confidentiality Statement 4 Property & Lease Details - 5 Tenant Profile - 6 Psychographics 7-9 Maps /Aerials 10 Picture of Towers - 11

3 Bill Whitlatch, GRI, RE Masters Real Estate Broker, DRE License # ABOUT NAI NAI The Whitlatch Group is affiliated with NAI Global, which allows us to have national exposure. NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of over 425 million square feet of property. Annually, NAI Global completes, in excess of $20 billion, in real estate transactions throughout the world.

4 STATEMENT NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NO WARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN OR ANY TO BE IMPLIED.

5 Property & Lease Details Offering Overview NAI The Whitlatch Group is pleased to offer for sale a high-quality, modern, multi-tenant, retail complex along the Morro Bay waterfront and benefits from extensive frontage within the prime foot-traffic/tourist-oriented portion of the Embarcadero. Structural improvements include two (2) two-story, multi-tenant buildings with 15 rental shop spaces. An additional, 752 square feet has been used as an administrative office. This could represent potentially leasable area. Adjacent to the Marina Square complex, and included with the subject property, is a marina dock with 16 rental boat slips occupied by mostly local boating enthusiasts, as well bay tour and kayak rental vendors. net-leased, asset. Structural improvements were done in And is being offered free and clear of any debt. It is a unique opportunity for an investor to acquire a welllocated, investment grade, credit-tenant asset in a desirable, coastal California geography. Morro Bay is a small, incorporated coastal city developed around a Area Description natural harbor along the Pacific Ocean. The community is located in the central section of San Luis Obispo and approximately midway between Los Angeles and San Francisco. It is roughly 12 miles north of San Luis Obispo and linked to this city by Highway1. The Offering Site Description Property Address: 601 and 699 Embarcadero, Morro Bay, CA Parcel Size: 40,561 square feet (approximately) for lease for Marina Square. 396,760 square feet (approximately) for Mooring Lease. Investment Summary Asset Class: Annual Rent: Cap Rate: Purchase Price: $4,500, Lease End: Primary Lease Term(s): Lease Type: Lease Escalations: Renewal Options: Net rentable space adjusted to 25,798 square feet: including an art gallery, retail shop, Bay Foundation offices, Window on the Water Restaurant, Blue Sky Bistro, Coffee Bar, Wine Shop.

6 Morro Bay Marina Square 1. Gift Shop (Suite 1) 2. California Images (Suite 2) 3. Skateboard Museum (Suite 3) 4. Junque Love (Suite 4) North Building 5. Recently rented (Suite 4) South Building 6. Morro Bay Wine Seller (Suites 5-6) 7. Blue Sky Bistro (Suite 6) North Building 8. Morro Bay Stand-Up Paddleboard Shop (Suite 7) 9. Bay Foundation (Suites 11 14) 10. Gallery at Marina Square (Suite 15) 11. Windows on the Water Restaurant/Bar 12. Administrative Office possible rental availability (can be used as an apartment). 6

7

8 8

9 9

10 City of Morro Bay 10

11 11