FOR SALE STREET RETAIL

Transcription

1 PROPERTY HIGHLIGHTS: Insert Highlights FOR SALE 116 West Yosemite Avenue Bill Johnson Associate (209) License # Xavier Santana President (925) License # Broker # T (209) F (209)

2 PROPERTY SUMMARY West Sisk Road Yosemite Modesto, AvenueCalifornia SALE PRICE: Contact Broker AVAILABLE SPACE: 1st Floor - ± 5,000 Sq. Ft 2nd Floor - ± 5,000 Sq. Ft* *2 one room apartments w/bathroom *5 one room apartments w/o bathroom *11 studios w/o bathrooms PARCEL SIZE: ZONING: ± 7,500 Sq. Ft Central Business Overlay (CBD) TRAFFIC COUNTS: West Yosemite Site- South Main Site- PROPERTY HIGHLIGHTS: Located in the heart of Manteca s downtown ± 12,000 ADT ± 15,000 ADT Upstairs residential occupancy rate above 95% historically Value Add opportunity with upside rent potential New roof installed in 2016 Area retailers include: Bank of America, PG&E, Manteca Bedquarters, Foster s Freeze, Hope Chest, Autozone, Labor Ready, and more Downtown Manteca benefits from a surrounding population of 80,894 people and an average household income of $78,495 within a 3-mile radius PG 2

3 PROPERTY RENT ROLLSUMMARY West Sisk Road Yosemite Modesto, AvenueCalifornia Suite Tenant Ste Size (Sq Ft) Monthly Base Rate % of Total Bldg Sq Ft Mon Rent (PSF) Ann Rent (PSF) % of Total Bldg Income Mon Mkt Rent (PSF) Ann Mkt Rent (PSF) Lease Type Start Date Exp Date 116 Metro PCS 2,500 $1, % $0.76 $ % $1.00 $12.00 Gross MTM MTM 118 Gypsy Soul Tattoo 2,500 $2, % $0.80 $ % $1.00 $12.00 Gross Jan-17 Dec-22 Apartments 5,000 $8, % $1.65 $ % Gross MTM MTM Total 10,000 $12, % $1.21 Leased 10,000 $145, % Available 0 0.0% PG 3

4 PROPERTY INCOME EXPENSES SUMMARY West Sisk Road Yosemite Modesto, AvenueCalifornia FINANCIAL STRUCTURE Scheduled Gross Income Actual-In- Place Rent Proforma Amount Base Rent $145,584 $152,784 Expense Recoveries $0 $0 Other Income $0 $0 Lease-Up Available Space $0 $0 Subtotal $145,584 $152,784 Less Vacancy Allowance $0 $6,111 Effective Gross Income $145,584 $146,673 Less Expenses $68,319 $51,886 Net Operating Income $77,265 $94,787 Less Debt Service $0 $0 Net Income After Debt Service $77,265 $94,787 ESTIMATED OPERATING EXPENSES EXPENSE TYPE Owner's 2016 Estimated 2017 Proforma Amount Taxes $3,269 $9,891 Insurance $6,686 $6,820 Utilities $14,965 $15,264 Gas $20 $20 Landscape $80 $82 Evictions $240 $245 Cleaning Supplies $430 $439 Bedding $296 $302 Business License and Permits $277 $283 Tax & License $314 $321 Advertising $39 $40 Office Supplies $3,007 $0 Computer & Internet Expenses $724 $739 Rent Deposit Refund $1,615 $0 Small Tools and Equipment $1,090 $1,112 Repairs and Maintenance $4,266 $4,351 Property Management $31,000 $5,867 Capital Reserve $0 $6,111 Total $68,319 $51,886 Annual Per Square Foot $6.83 $5.19 Monthly Per Square Foot $0.57 $0.43 ASSUMPTIONS Vacancy Allowance: 4.000% Proforma management 4.000% Proforma property 1.025% Capital Reserve at: 4.000% PG 4

5 MARKET AERIAL PG 3

6 MARKET AERIAL PG 3

7 DEMOGRAPHICS 116 West Yosemite Avenue POPULATION 1 mi Radius 3 mi Radius 5 mi Radius 2016 Estimated Population 21,480 80, , Projected Population 22,987 86, , Census Population 19,721 70,939 88,852 Projected Annual Growth 2016 to % 1.4% 1.4% 2016 Median Age HOUSEHOLDS 2016 Estimated Households 7,048 26,191 32, Projected Households 7,342 27,302 33, Census Households 6,451 22,897 27,868 Projected Annual Growth 2016 to % 0.8% 0.9% Historical Annual Growth 2000 to % 2.8% 3.0% RACE AND ETHNICITY 2016 Estimated White 60.3% 61.5% 58.4% 2016 Estimated Black or African American 3.5% 4.3% 4.6% 2016 Estimated Asian or Pacific Islander 4.5% 8.6% 10.7% 2016 Estimated American Indian or Native Alaskan 1.5% 1.1% 1.1% 2016 Estimated Other Races 30.1% 24.6% 25.1% 2016 Estimated Hispanic 47.2% 38.0% 39.0% INCOME 2016 Estimated Average Household Income $58,670 $78,495 $78, Estimated Median Household Income $52,416 $66,411 $66, Estimated Per Capita Income $19,333 $25,458 $24,639 BUSINESS 2016 Estimated Total Businesses 944 2,069 2, Estimated Total Employees 8,063 20,123 26,841 RADIUS MAP 2017 Northgate Commercial Real Estate. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. PG 4