FOR SALE BEACHFRONT RETAIL/OFFICE PROPERTY Newport Avenue San Diego, California

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1 FOR SALE 5060 Newport Avenue Xavier Santana CEO (925) License # Broker # T (209) F (209)

2 PROPERTY SUMMARY Sisk Newport Road Avenue Modesto, California SALE PRICE: Contact Broker APN: BUILDING SIZE PARCEL SIZE: ZONING: TRAFFIC COUNTS: PROPERTY HIGHLIGHTS: Suite 1: ± 1,020 SF Suite 2: ± 700 SF Suite 3: ± 1,200 SF Suite 4: ± 700 SF ± 3,875 SF General Commercial (CG) Newport Site: ± 5,000 ADT Bacon Street near Site: ± 4,000 ADT Exceptionally located on Ocean Beach Pier Parcel includes three separate buildings Suite 2 & 3: residential/office space Suite 1 & 4 (2 floors): Street retail space Located on main retail strip and beach entrance Area is subject to tourists and heavy foot traffic Area co-tenants include: Ocean Beach Hotel, Hodads, Starbucks, CVS Pharmacy, Wonderland Ocean Pub, Gold s Gym, Ocean Beach Brewery + more 2

3 FINANCIAL STRUCTURE 5056 Newport Avenue Financial Structure Estimated Operating Expenses Owner's Proforma Amount Cleaning $200 $206 Scheduled Gross Income Actual-In- Place Rent Proforma Amount Property Insurance $2,587 $2,665 Base Rent $85,812 $85,812 Expense Recoveries 0 0 Other Income $0 $0 Lease-Up Available Space $0 $36,000 Subtotal $85,812 $121,812 Less Vacancy Allowance $0 $3,432 Legal Professional $2,148 $2,212 Repairs & Maintenance $2,493 $2,568 Property Taxes $8,291 $35,875 Property Management $0 $0 Total $15,719 $46,100 Annual Per Square Foot $4.34 $12.73 Effective Gross Income $85,812 $118,380 Monthly Per Square Foot $0.36 $1.06 Less Expenses $15,719 $46,100 Assumptions Net Operating Income $70,093 $72,279 Proposed Rent Proforma assumes leases adjusted to new rents and terms Proforma management fees at: 4.00% Proforma property taxes based on top of matrix price at: 1.025% Capital Reserve at: 3.00% 3

4 RENT ROLL 5056 Newport Avenue TENANT SQ FT: % OF BUILDING: MONTHLY RENT (PSF) MONTHLY RENT % OF TOTAL BUILDING INCOME LEASE START DATE LEASE END DATE Mike s Taco Club 1, % $4.608 $4, % SEP-14 AUG-19 John Rudolph % $2.501 $1, % APR-17 MAR-22 Vacant 1, % $0.00 $0 0.0% - - Ace Tattoo % $1.000 $ % COE 5 YEAR 4

5 LEASE ABSTRACT 5056 Newport Avenue Mike s Taco Club LEASE COMMENCEMENT: September 2014 John Rudolph LEASE COMMENCEMENT: April 2017 TERMS: 5 years TERMS: 7 years OPTIONS: 2 Options 5 years each OPTIONS: 1 Option 7 years each LEASE EXPIRATION: August 2019 LEASE EXPIRATION: March 2022 LEASE TYPE: GROSS LEASE TYPE: GROSS Vacant Ace s Tattoo LEASE COMMENCEMENT: - TERMS: - OPTIONS: - LEASE EXPIRATION: - LEASE TYPE: GROSS LEASE COMMENCEMENT: TERMS: OPTIONS: LEASE EXPIRATION: LEASE TYPE: Close of Escrow 5 years 1 Options 5 years each 5 years following Commencement GROSS 5

6 PROPERTY TENANT PROFILE SUMMARY Sisk Newport Road Avenue Modesto, California About Mike s Taco Club Mike s Taco Club serves San Diego s favorite tacos, torta & burritos in Ocean Beach. The staff builds a community that permeates every level of the restaurant. They love Ocean Beach, and they do everything in their power to spread the care. Mike s Taco Club represents what Ocean Beach is: low frills, real chill. You can come in here with no shoes on, fresh from the ocean, and we won t mind. This open mindedness demarcates Mike s Taco Club as more than just a restaurant. It s where life happens. 6

7 PROPERTY TENANT PROFILE SUMMARY Sisk Newport Road Avenue Modesto, California About Ace Tattoo Ace Tattoo Co. holds the title for the oldest operating tattoo shop in California. Ace Tattoo thrives on tradition, provide high quality work, and are passionate about our art. Whether you want a custom design or you have an exact picture ready, our shop will help you bring the idea to life on your skin. We want our customers to have a great experience while getting tattooed and Ace provides a clean and mellow environment with gorgeous views. Take a deep breath, gaze into the sunshine, and start dreaming about your next tattoo. 7

8 PROPERTY MARKET VIEW SUMMARY WESTERN VIEW Sisk Newport Road Avenue Modesto, California 8

9 PROPERTY MARKET VIEW SUMMARY EASTERN VIEW Sisk Newport Road Avenue Modesto, California 9

10 DEMOGRAPHICS 5056 Newport Avenue 1 MI RADIUS 3 MI RADIUS 5 MI RADIUS POPULATION 2017 Estimated Population 18,190 66, , Projected Population 19,220 69, ,180 RADIUS MAP 2010 Census Population 17,199 64, ,018 Projected Annual Growth 2017 to % 1.0% 0.9% 2017 Median Age HOUSEHOLDS 2017 Estimated Households 9,331 30,255 75, Projected Households 9,831 31,802 79, Census Households 8,911 28,910 71,135 Projected Annual Growth 2017 to % 1.0% 1.0% Historical Annual Growth 2000 to % 0.3% 0.4% RACE AND ETHNICITY 2017 Estimated White 85.5% 81.4% 79.4% 2017 Estimated Black or African American 1.8% 3.8% 3.5% 2017 Estimated Asian or Pacific Islander 3.8% 5.1% 6.6% 2017 Estimated American Indian or Native Alaskan 0.6% 0.6% 0.6% 2017 Estimated Other Races 8.3% 9.1% 9.9% 2017 Estimated Hispanic 12.8% 14.5% 16.4% INCOME 2017 Estimated Average Household Income $88,398 $106,112 $109, Estimated Median Household Income $79,448 $84,714 $85, Estimated Per Capita Income $45,421 $48,515 $50,258 BUSINESS 2017 Estimated Total Businesses 760 4,050 10, 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 Estimated Total Employees 3,696 45, ,222 10