MISSION VALLEY OFFICE 2 5 5 5 C A M I N O D E L R I O S SAN DIEGO, CA 92108 2 5 5 5 Owner/User Opportunity - With Income Jason Vieira Sales & Leasing Associate Jason@PacificCoastCommercial.com (858) 300-0375 Lic. 01896589 Tommas Golia Associate Vice President Tommas@PacificCoastCommercial.com (858) 598-2891 Lic. 01890744 Office (619) 469-3600 6050 Santo Rd, Suite 200 San Diego, CA 92124 www.pacificcoastcommercial.com Lic. 01209930
2555 CAMINO DEL RIO SOUTH, SAN DIEGO, CA 92108 I. PROPERTY OVERVIEW Description....................... 1 Highlights........................ 2 Owner/User Opportunity............. 3 Income & Expense................. 4 Own vs. Lease Analysis.............. 5 II. AREA OVERVIEW Amenities Map.................... 6 Area Map........................ 7-8 Mission Valley Development Pipeline.... 9 Mission Valley Statistics............. 10 III. SAN DIEGO COUNTY OVERVIEW Highlights........................ 11 Statistics........................ 12
Property Description 01 OFFERING PRICE BUILDING AREA PROPERTY TYPE LOT SIZE $4,000,000 +/- 21,980 SF Two-Story Office* *Elevator Served +/- 39,639 SF (+/- 0.91 Acres) RENTAL INCOME $15,957 / mo** **As of December 2018 AVAILABLE FOR OCCUPANCY 4,577 SF ONSITE PARKING APN 70 Spaces 438-180-30-00
Property Highlights 02 RARE OWNER/USER OPPORTUNITY SUITE 150: ± 4,577 RSF Private Entryways & Restrooms LOCATION Excellent Central Location in the Heart of Mission Valley s Abundant Amenities STRONG IN-PLACE CASH FLOW 12 Tenants Generating $15,957 Monthly Income FREEWAY VISIBILITY I-8: 235,000 Vehicles Per Day Building Top Signage ACCESSIBILITY Immediate Access to I-8 Via Texas Street Minutes to I-805, I-5, & I-15 INTERNET/COMMUNICATIONS Fiber Connectivity: AT&T and Cox
Owner/User Opportunity 03 FLOOR PLAN Break Room Office Office Separate Entrance Suite 150 ±4,577 RSF Office Office Separate Entrance Two Separate Entrances Private Restrooms Freeway Signage Separate HVAC System
Income & Expense - Owner/User Scenario PURCHASE PRICE $4,000,000 PRICE PER SF $182 SQUARE FEET (PER TITLE) 21,980 SF 04 INCOME DEC 2018 ANNUALIZED TENANT LEASE EXPIRATIONS (% OF BUILDING) Scheduled Base Rent (16,087 SF Leased) $309,103 Base Rent Adjustments (Fixed) $1,630 Electricity Reimbursement (10,013 @ $.25/sf) $30,039 Base Year Expense Increase Recapture (Not currently enforced) $ - Late Fees (2017 Actual) $1,108 Service Fees (2017 Actual) $705 ESTIMATED GROSS INCOME $342,585 33% 7,177 SF 4 Tenants 12% 2,708 SF 2 Tenants 34% 7,535 SF 5 Tenants 21% 4,560 SF 2 Tenants EXPENSES Property Taxes (Adjusted to Purchase Price) 1.16967% $46,787 Maintenance- Elevator (2017 Actual) $1,911 Maintenance- Building (2017 Actual) $13,147 Maintenance- Supplies (2017 Actual) $11,682 Security (2017 Actual) $2,472 Janitorial (2017 Actual) $11,831 HVAC (2017 Actual) $3,388 Landscaping (2017 Actual) $2,750 Insurance (2017 Actual) $2,637 Gas/Electricity (2017 Actual Less Owner/User Portion) (4,577 SF @.25/sf) $51,246 Water/Sewer (2017 Actual) $1,834 Trash (2017 Actual) $1,415 TOTAL OPERATING EXPENSES $151,100 NET OPERATING INCOME $191,485 0% 0 SF 0 Tenants MONTHLY INCOME TO OWNER/USER $15,957 + E
Own vs. Lease Analysis 05 Purchase Assumptions Lease Assumptions Property Size (Square Feet) 21,980 Suite Size (Square Feet) 4,577 Purchase Price $4,000,000 Lease Rate Per ($/SF Gross) $1.65 Estimated Loan Terms: 4.75%, 20 yr Amort Upfront Investment Upfront Investment 35% Down Payment $1,400,000 Prepaid Rent/Security Deposit $15,104 Monthly Costs $/SF Monthly Costs $/SF Loan Payment $0.76 $16,802 Lease Payment $1.65 $7,552 Operating Expenses $0.57 $12,592 Operating Expenses $1.34 $1.65 Total Monthly Costs $29,394 Total Monthly Costs $7,552 Monthly Ownership Benefits (Estimated) Tax Benefits OWN Monthly Lease Benefits (Estimated) Tax Benefits LEASE Interest Deduction (5yr avg) $3,788 Interest Deduction $0 Operating Expense Deduction $5,037 Operating Expense Deduction $0 Depreciation Deduction $2,735 Lease Deduction $3,021 Other Benefits Other Benefits Rental Income $15,957 Rental Income $0 Property Appreciation (Avg) 1.5% $5,000 Property Appreciation $0 Total Ownership Benefits $32,517 Total Lease Benefits $3,021 Effective Monthly Cost: ($3,123) Effective Monthly Cost: $4,531 ADDITIONAL BENEFITS OF OWNERSHIP Annual Effective Cost Difference: $91,848 Annual Principal Paydown: $87,983 Annual Wealth Creation: $179,832 Return On Investment: 12.85% And never another rent increase! *Terms subject to change. Do not rely on the assumptions used in this analysis: please consult your financial advisor; approval subject to credit qualifications/not a commitment to lend Information Via Wells Fargo SBA Marty Spuehler Vice President/District Sales Manager Cell: (619) 405-5429 Marty.Spuehler@wellsfargo.com
Amenities Map 06 1 FASION VALLEY MALL - Bloomingdales 3 - Macy's - Neiman Marcus - Nordstrom - AMC Theatres - Boudin Sourdough Bakery Cafe - Starbucks - Rubio's Fresh Mexican Grill - Cheesecake Factory - PF Chang's China Bistro, Inc. HAZARD CENTER - Barnes & Noble - Ultra Star Cinemas - Starbucks - Joe's Crab Shack - Applebees - Smash Burger - Yogurt Land - Whichwich 5 PARK IN THE VALLEY - Best Buy 7 - Off 5th - Pier 1 Imports - Staples - Thomasville - Hooters - Starbucks - On the Border Mexican Grill - Sammy's Woodfired Pizza - Capriotti s Sub MISSION VALLEY EAST - Rubio's - Pick Up Stix - In-N-Out - Taco Bell - AT&T - El Pollo Loco 9 FENTON MARKETPLACE 560,000 sf of retail and restaurants: - Costco - IKEA - Lowe's - McDonalds - Sprint - Islands Restaurant - Cold Stone Creamery - Mission Valley Library - IHOP - Starbucks 2 WEST FIELD MISSION VALLEY CENTER WEST - DSW - Golfsmith - Marshalls - Old Navy - King's Fish House - Fuddruckers - Coffee Bean and Tea Leaf - Gordon Biersch - Trader Joe s - The Habit 4 FRIARS MISSION CENTER - Wells Fargo Bank - Jamba Juice - BevoMo! - CVS - Flame Broiler - Union Bank - Citibank - Nothing Bundt Cakes - Petco - UPS 6 WESTFIELD MISSION VALLEY CENTER Over 100 stores and restaurants: - Bed Bath & Beyond - Macy's - Nordstrom Rack - Target - Michael's - AMC Theatres - Buffalo Wild Wings - Outback Steakhouse - Tender Greens - Target 8 RIO VISTA PLAZA 10 SDCCU STADIUM - Office Depot - Sports Authority - Wendy's - O's American Kitchen - Sombrero Mexican Food - Daphne's California Greek - Living Spaces - Jersey Mikes - Party City 9 10 4 8 3 5 7 1 2 6
West Area Map 07 Westfield Mission Valley Mission Valley Center Station Rio Vista Station
East Area Map 08 Fenton Parkway Qualcomm Stadium
Mission Valley Development Pipeline 09 The Heights at Fashion Valley 319 Apartments SD Union Tribune AMP& RSAND Redevelopment 330,000 SF Office Hazard Center Project Planned: 473 Units Civita Development 4,780 Housing Units 900,000 SF Retail/Office Riverwalk Redevelopment 4,300 Unit Housing Development New Trolley Station. Massive River Park 1 Million SF Office Space Town & Country Resort & Convention Planned 840 Units Upgraded Convention Update Millennium Mission Valley 291 Apartments 14 Live-Works 9,000 SF Retail/Office Subject Property 2555 Camino Del Rio S San Diego, CA 92108 Owner/User Opportunity SDCCU Stadium Redevelopment Planned Mixed Use 880,000 SF Office/Retail
Mission Valley Statistics 10 TRAFFIC COUNT 199,000 VPD on I-8 Fwy & Texas St POPULATION 584,404 TOTAL # HOUSEHOLDS 224,776 POP GROWTH (2018-2023) 4.38% # DAYTIME EMPLOYEES 429,759 MEDIAN HOME VALUE $518,668 CONSUMER SPENDING $415,332 DEVELOPMENT PIPELINE 10,000+ Residential Units
San Diego County Highlights 11 70 MILES OF PRISTINE BEACHES & UNPARALLELED LOCAL DEMOGRAPHICS WORLD-CLASS LIFESTYLE & ENTERTAINMENT AMENITIES WELL EDUCATED & INNOVATIVE LABOR FORCE HIGHLY INTEGRATED TRANSPORTATION DIVERSIFIED & PROSPEROUS ECONOMY RECOGNIZED AS A HIGH-TECH HUB LARGEST CONCENTRATION OF MILITARY IN THE WORLD
San Diego County Statistics 12 3,337,685 POPULATION $63,996 MED. HOUSEHOLD INCOME 1,103,128 HOUSEHOLDS 34.9 MEDIAN AGE 2.22% RECENT JOB GROWTH $507,200 AVG. HOME VALUE 2.85 AVG. HOUSEHOLD SIZE 39.34% FUTURE JOB GROWTH 5.10% UNEMPLOYMENT RATE * SOURCE U.S CENSUS BUREAU
MISSION VALLEY OFFICE 2 5 5 5 C A M I N O D E L R I O S SAN DIEGO, CA 92108 Contact Information JASON VIEIRA Lic. 01896589 Sales & Leasing Associate Direct (858) 300-0375 Jason@PacificCoastCommercial.com TOMMAS GOLIA Lic. 01890744 Associate Vice President Direct (858) 598-2891 Tommas@PacificCoastCommercial.com PACIFIC COAST COMMERCIAL 6050 Santo Rd., Suite 200, San Diego, CA 92124 Office (619) 469-3600 Fax (858) 560-5604 www.pacificcoastcommercial.com Lic. 01209930 The information contained herein has been given to us by the owner of the property or other sources we deem reliable, we have no reason to doubt Its accuracy, but we do not guarantee it. All information including zoning and use should be verified prior to purchase or lease.