GEORGE REALTY Multi-Tenant Strip Center APN: 7273-001-039 400 East Anaheim Avenue Long Beach, CA 90813 EXCLUSIVELY LISTED BY: Coldwell Banker Commercial George Realty Aldon Lai 626.552.1028 AldonLaiCW@gamil.com Aldon.Lai@ColdwellBanker.com License 01855739
GEORGE REALTY THE Multi-Tenant Retail Center 400 East Anaheim Street Long Beach, CA 90813 DETAILS Coldwell Banker Commercial George Realty is proud to present a net leased investment opportunity to a qualified investor. This asset is anchored by a Burger King Drive-Thru on a 9,100 square foot retail center. The property is situated on a 45,110 square foot lot with a ±50 parking spaces. All tenants are on long term NNN leases and have regular lease increases that are in the binding lease agreement. HIGHLIGHTS Center is anchored by Burger King Corporation, part of the Restaurant Brands International (Stock ticker QSR ). In-place net leases provide ease of management with only four tenants. Low management responsibilities. Net leases with CAM reimbursements provide maximum return on investment. 21% upside by filling vacancy at market lease rates. Coupled with annual rent increases among its existing tenants leases, the new buyer can double its cash on cash. PRICE Sale Price*: $4,900,000 Price per RSF $538/RSF *Fee simple estate for sale only. Please DRIVE BY ONLY and NEVER STEP ON THE without the listing brokers permission. The existing tenants and its employees do not know the property is for sale. Please contact listing brokers for all inquiries and/or property tour. LOCATION INFORMATION Property Type: Retail Investment Multi-Tenant Strip Center APN: 7273-001-039 Zoning: The Community R-4-N (CCN) District is similar to the Community Auto-Oriented District, but also permits medium density residential development at R-4-N densities. The Port of Long Beach, also known as the Harbor Department of the City of Long Beach, is the secondbusiest container port the United States, after the Port of Los Angeles which it adjoins acting as a major gateway for US Asian trade, the port occupies 3,200 acres of land with 25 miles of waterfront in the city of Long Beach, California. This seaport generates approximately $100 billion in trade and employs more than 316,000 people in Southern California. Year Built: 1998 Frontage: East Anaheim Street Building Size: 9,100 SF (GLA) Cross Street: Elm Avenue SE Corner ±45,110 SF Total Located: Land: Land: City of Long Beach Parking: ± 50 with Street Parking Submarket DTLB & MTLB Parking Ratio: ±5.5:1,000 County Los Angeles SPECS
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FINANCIAL SUMMARY ANNUALIZED OPERATING DATA Actual ProForma Scheduled Gross Income (SGI): $ 212,361.00 $269,075.86 at 100% occupancy Expense Reimbursement $ 91,711.68 $108,913.63 Gross Operating Income: $ 304,072.68 $377,989.49 Total Operating Expenses: $ 103,045.55 $103,045.55 Net Operating Income (NOI): $ 201,027.13 4.10% $274,943.94 5.61% Capitalization Rate Capitalization Rate OPERATING EXPENSES Amount % of SGI Property Taxes 2018 (NEW @1.25) $ 61,250.00 28.84% Fire & Liability Insurance $ 4,000.00 1.88% 30% Water Charge $ 6,582.31 3.10% Utilities (Electricity, Trash, City Water) $ 11,433.58 5.38% Gardening Service $ 3,000.00 1.41% Trash Dumped for Groundkeeping $ 600.00 0.28% Security Surveillance $ 1,223.76 0.58% Fire Alarm (Phone Line) $ 1,674.24 0.79% Fire Alarm (Monitoring Service) $ 540.00 0.25% Management Fee (6% of Collected Income) $ 12,741.66 6.00% TOTAL EXPENSES $ 103,045.55 48.52% $16.10 Annually Per SF $1.34 Monthly Per SF
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