For Sale 25,710 SF Three-Story Retail/Office Property On A 9,001 SF Lot

Transcription

1 1002 S. Gaffey St. For Sale 25,710 SF Three-Story Retail/Office Property On A 9,001 SF Lot Coldwell Banker Commercial BLAIR WESTMAC 333 W. Broadway, Ste. 312 Long Beach, CA fax BRE#:

2 DISCLAIMER AND CONFIDENTIALITY Coldwell Banker Commercial BLAIR WESTMAC ( Broker ), exclusive marketing representative of the ownership of 1002 South Gaffey Street in San Pedro ( Seller ), is solely authorized to present this property investment offering (the Offering ). Prior to submitting an Offer to Purchase 1002 South Gaffey, San Pedro, California (the Property ), interested parties should perform and rely upon their own investigations, analyses, estimates and projections and otherwise satisfy any concerns regarding material aspects of the proposed transaction including, but not limited to, legal, municipal, environmental, operational, seismic, financial and physical issues, and all other matters affecting or pertaining to the Property. The Seller will be offering the Property, solely on an As Is, Where Is basis, without any representations or warranties. No person, including Broker, is authorized to make any representations or warranties on behalf of the Seller regarding the Property. Any and all information regarding the Property provided to any interested party by the Seller or Broker, including all information contained in the Offering, is provided without any representation or assurance, expressed or implied, regarding the accuracy, completeness or current status of applicability of such information. Each interested party is expected to undertake such reviews and investigations and make such inquiries as such party may believe to be necessary, appropriate or advisable for the purpose of forming a decision to make an offer to acquire the Property. The material contained herein is confidential and is presented strictly as information for the exclusive use of the prospective purchaser. Receipt and review of this Offering by the prospective purchaser constitute an agreement not to divulge, share or distribute the information to any other party, except the prospective purchaser s legal counsel and financial advisors, without the prior specific written authorization of the Seller or Broker. Each prospective purchaser shall also agree to and comply with the provisions of the Confidentiality Agreement executed by such prospective purchaser as a condition to the receipt of this Offering. This Offering is submitted subject to errors, changes, omissions, changes in price, market and other conditions. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that prospective purchasers may desire. It should be noted that any and all market analyses, estimates and projections contained in this Offering are provided for general reference purposes only and are based on assumptions related to the general economy, competition, real estate market trends, and other factors beyond the control of the Seller or Broker. Such analyses, estimates and projections are therefore subject to material variation, and may not be consistent with the views or assumptions held by other professionals Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates

3 INTRODUCTION Located directly on the corner of 10th and Gaffey Street, this three story building offers great visibility and high traffic counts. The ground floor consists of six separate retail units with the potential for retail and office to be located upstairs. The building consists of approximately 25,710 SF on approximately 9,001 SF of land. The building is currently vacant and there is opportunity for repositioning. New developments with San Pedro and especially with Ports O Call make the property location ideal for any new buyer.

4 PROPERTY INFORMATION Address 1002 S. Gaffey Street San Pedro, California Asking Price APN Building Size Lot Size Year Built Zoning No. of Floors $6,500,000 ($252.81/SF) ,710 SF 9,001 SF 1925 LAC2 Three (3) As of

5 PARCEL MAP 10th St. Gaffey St. 9th St Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All information is deemed reliable but not guaranteed. Corporate BRE# As of Grand Ave.

6 1002 S. GAFFEY STREET

7 Neighborhood Summary The subject property is located at 1002 South Gaffey Street in San Pedro California located on the corner of Gaffey and 10th Street. The immediate area surrounding your property is retail, residential, and service oriented type businesses. The building totals approximately 25,710 square feet (SF) on approximately 9,001 square feet (SF) of land. The building is currently vacant. Current market conditions are continuing to improve and new developments in San Pedro especially based on the new plans for Ports O Call have begun attracting new business, creative users and visitors. Gaffey Street makeover San Pedro Exit Park: The vacant parcel next to the northbound 110 Freeway on-ramp on Gaffey will begin its transformation in the third quarter of this year. Included will be landscaping, lighting, and the flags of Los Angeles 25 sister cities illuminated at night. Construction should take four to six months. A new Starbucks: Still only in the negotiating stage, a drive-through is planned at Ninth and Gaffey to replace TC s, a corner bar. The Starbucks at Fifth and Gaffey would continue to operate. Jack-in-the-Box: A remodel of the fast-food restaurant at 600 S. Gaffey St. has received approvals from the city s Zoning Administration. Design plans are expected to be approved by late summer or early fall, with construction starting late this year. The Chinese restaurant on the east end of the property at Sixth and Gaffey would be removed so that Jack-in-the-Box could expand to include more landscaping, lighting and outdoor seating. Gaffey was one of six streets named by Los Angeles Mayor Eric Garcetti in 2014 for his Great Streets Initiative, a proposal to remake some of the city s most heavily used corridors. Expected to cost some $7 million, the makeover of Gaffey will include new landscaping, mini medians, bulb-outs at corners, outdoor seating, pedestrian-level street lighting, decorative pavers, tree canopies and improved bus and transit shelters. Excerpts provided by Daily Breeze - Donna Littlejohn

8 THE SAN PEDRO PUBLIC MARKET San Pedro s new $100 Million waterfront makeover Developers rolled out plans for a new Ports O Call, unveiling a new name San Pedro Public Market and a more authentic wharf-and-warehouse look reminiscent of San Francisco s successful waterfront. The first phase of the ambitious $100 million waterfront makeover is slated to be finished in 2020, officials said. The hub of the first phase will be 16 acres and 150,000 square feet of restaurants, shopping, fresh markets, boutique-style office space and more than a half-mile of waterfront promenade. There will also be a discovery sea park, event space and attractions possibly a Ferris wheel, a carousel and other interactive seaside adventures for families along with an outdoor amphitheater. Some kind of amphibian-vehicle ride attraction also has been discussed as a possibility. And pleasing local historians, San Pedro s historic Red Car will make a return. In a fashion similar to the line installed at The Grove in the Fairfax District, the Red Car will carry visitors up and down the project s linear footprint. The trolley plans received some of the most enthusiastic applause at the Warner Grand unveiling. A fleet of rubber-tire trolleys also is planned to carry passengers throughout the wider waterfront and downtown San Pedro area. A bike-share program is contemplated as well. The project, Buscaino said, is designed to showcase the history, charm and flavor of San Pedro. But it also will showcase the international connections that intertwine at one of the world s busiest shipping container ports. Images and story provided by Daily Breeze - Donna Littlejohn

9 AERIAL MAP 1002 S. gaffey St. san pedro, ca San Pedro Regional Branch Library 10th St. Gaffey Street 9th St.

10 Ports O Call 1002 S. Gaffey st. san pedro, CA Pacific Ave. Gaffey St. FOR MORE INFORMATION: Shepard St. BECKY BLAIR, CCIM President & Principal BBlair@cbcblair.com BRE#: SHEVA HOSSEINZADEH Associate Sheva@cbcblair.com BRE#: COLDWELL BANKER COMMERCIAL BLAIR WESTMAC 333 W. Broadway, Suite 312, Long Beach, CA Company BRE#: