FOR SALE San Diego, CA. Historic Woolworth Building Gaslamp Quarter Mixed-Use

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1 FOR SALE San Diego, CA Historic Woolworth Building Gaslamp Quarter Mixed-Use

It was arguably the most successful American and international five-and-dime, setting trends and creating the modern retail model which stores follow worldwide today.

2 ABOUT THE WOOLWORTH BUILDING The Woolworth Building is a historic mixeduse property located in Gaslamp Quarter in Downtown San Diego. The building was constructed in 1922 and served as a retail location for the F. W. Woolworth Company. The F. W. Woolworth Company was a retail company and one of the original pioneers of the five-and-dime store. It was arguably the most successful American and international five-and-dime, setting trends and creating the modern retail model which stores follow worldwide today. The property went through extensive renovation in The renovations Including the addition of 6 spacious lofts style on the second and third floors. Along with the lofts, the Woolworth Building features a basement level and approximately 5,684 sq. ft. of rentable street level retail.

3 INVESTMENT OVERVIEW LOCATION BUILDING SIZE PRICE PER SQ FT PRICE/CAP NET OPERATING INCOME (NOI) Fifth Avenue, San Diego, CA ,140 sq. ft. $ $4,950,000 / 4.53% CAP (pro forma) $224,351 (pro forma) COMMENTS The Historic Woolworth Building conveniently sits at Fifth Avenue & Broadway, one of Downtown San Diego s busiest intersections. This mixed-use property featuring 6 large furnished loft apartments, two retail spaces, and a basement. Within one mile of the property, there are over 45,000 residents which is expected to increase by 6% by The building is also located next to Westfield Horton Plaza, Hotel Palomar, House of Blues, and many renowned restaurants all of which are large tourist and local attractions in the area.

4 CASH FLOW RENT ROLL INFORMATION (Pro Forma) Suite Tenant Gross SF % of Total Rent Annual Rent Lease Expiration Rent/SF 1st Floor Ste. A Nail Salon* 1, % $4,774 $57,289 4/30/2021 $4.15 1st Floor Ste. B vacant 2, % $9,396 $112,752 n/a $4.00 Basement S.T.E. 3, % $3,300 $39,600 Month to Month $0.88 Apt 201 Residential 1, % $1,800 $21,600 1/1/2019 $1.54 Apt 202 Residential % $1,800 $21,600 1/1/2019 $1.83 Apt 203 Residential 1, % $1,800 $21,600 1/1/2019 $1.47 Apt 301 Residential 1, % $1,800 $21,600 1/1/2019 $1.54 Apt 302 Residential % $1,800 $21,600 1/1/2019 $1.83 Apt 303 Residential 1, % $1,800 $21,600 1/1/2019 $1.46 Laundry $60 $720 n/a Totals 14, % $28,330 $339,961 Total SF Including Common Areas 20,140 *Nail Salon rent currently $4,635/month. Rent referenced above refects May 2018 rent increase.

EXPENSES Expenses (Pro Forma) Expenses Property Tax* $ 64,538 Insurance $ 10,229 Elevator $ 4,352 Trash $ 4,286 Gas & Electric $ 7,512 Telephone/Fire Alarm $ 6,456 Water/Sewer $ 6,839

5 EXPENSES Expenses (Pro Forma) Expenses Property Tax* $ 64,538 Insurance $ 10,229 Elevator $ 4,352 Trash $ 4,286 Gas & Electric $ 7,512 Telephone/Fire Alarm $ 6,456 Water/Sewer $ 6,839 Repairs/Maintenance $ 4,598 Total Operating Expenses (Pro Forma): $ 108,811 Expenses per Square Foot: $5.40 NOTES $ 0.45 *Property Tax based on tax rate of 1.17% of new sale price plus fixed $6,623 Business Improvement District Charge

6 CASH FLOW ANALYSIS ACTUAL Leased Income: $339,961 CAM Reimbursment $0 Total Income: $339,961 GROSS OPERATING INCOME: $339,961 Vacancy Factor (2%) $6,799 Total Expenses: $108,811 NET OPERATING INCOME: $224,351

The Gaslamp Quarter, located on the waterfront of San Diego Bay, is well known as The Heart of San Diego s Nightlife and is an energetic business and entertainment district extending 16½ blocks

It features 94 Historic Victorian-era buildings and modern skyscrapers that stand side by side, housing more than 100 of the city's finest restaurants, pubs, nightclubs and retails shops, as well as

12 The Gaslamp Quarter, located on the waterfront of San Diego Bay, is well known as The Heart of San Diego s Nightlife and is an energetic business and entertainment district extending 16½ blocks through downtown San Diego. It features 94 Historic Victorian-era buildings and modern skyscrapers that stand side by side, housing more than 100 of the city's finest restaurants, pubs, nightclubs and retails shops, as well as offices and residential/work lofts. As the largest tourist attraction in San Diego County, most visitors spend their entire day in the Gaslamp Quarter, shopping at the many trendy boutiques or in the multi-level outdoor mall, Horton Plaza. During the season, baseball fans enjoy watching the Padres play at Petco Park then dine and drink with friends at one of the surrounding eateries. With a premier location next to the San Diego Convention Center, the Midway Museum, and Seaport Village, this area is always experiencing an active flow of people. San Diego's Gaslamp Quarter is seen as a veritable playground, rich with cultural offerings that include theatres, art galleries, symphony halls, concert venues and museums making it one of the most populated elite urban destinations.

13 FIFTH AVENUE FOURTH AVENUE 351,000 sf Class A office Broadway Lofts 84 Units 223,000 sf Multifamily Redevelopment th 103 Condo Units

Justin Earley BRE Lic #01414252 Senior Vice President T: 619.398.8905 E: jearley@capital-rev.

16 Justin Earley BRE Lic # Senior Vice President T: E: Casey Young- BRE Lic # Vice President T: E: Anthony Grad BRE Lic # Associate T: E:

WATERFRONT RESTAURANT OPPORTUNITY

WATERFRONT RESTAURANT OPPORTUNITY JIM RINEHART Lic. #1824068 619.726.8557 jrinehart@retailinsite.net MATT MOSER Lic. #01772051 858.523.2096 mmoser@retailinsite.net WHERE THE HISTORY OF BROADWAY MEETS THE