Available for Sale SUBJECT PROPERTY Sierra Hwy. 12,960sf Commercial Center - Santa Clarita 17718-17734 Sierra Hwy, Santa Clarita, CA 91351
Offering Price: $1,695,000 SUMMARY Exclusively Listed By: PROPERTY ADDRESS CENTER SIZE LOT SIZE PARKING ZONING MULTI-TENANT COMMERCIAL CENTER 17718-17734 SIERRA HWY SANTA CLARITA CA 91351 TOTALING + /- 12,960 SQUARE FT (PER TITLE)* + /- 24,649 SQUARE FT (PER TITLE - 3 PARCELS)* 33 SPACES CC - COMMUNITY COMMERCIAL ZONE RON FEDER Managing Director RJ Feder & Associates Inc. D. 818.222.0404 E. rfeder@rjfeder.com CalBRE#00983855 RAMI MEHERABAN Sr. Associate RJ Feder & Associates Inc. D. 323. 471.4747 E. RamiM@kw.com CalBRE#01957846 APN 2839-014-034 / 035 / 036 (3 PARCELS) *The square footage noted is per the Assessor's records & title - buyer to conduct his own investigations and verify
HIGHLIGHTS Fantastic owner - user or value add investor opportunity Approximately 170 feet of Sierra Hwy. Frontage Unique opportunity to own over half an acre of Community Commercial Zoned lot Suitable for retail use and any other permissible uses under Community Commercial Zoning Multi-unit layout allows owner user to utilize a portion of the space while generating income from adjacent units
Regional Reference Map
The Property The center totals approximately 12,960 st of building and resides on 3 adjacent lots totaling approximately 24,649 square feet. The center features roughly 170 foot of frontage along the Sierra Highway in the city of Santa Clarita. The Center offers an opportunity for an owner who may occupy the majority of the property or an investor who can improve and lease up the vacant spaces at the center. Santa Clarita Santa Clarita is centrally located and is home to Six Flags Magic Mountain and Hurricane Harbor! Just 30 minutes north of downtown Los Angeles, the city boasts year-round fun, abundant sunshine, a unique blend of upscale sophistication and small town charm, historic elements, destination dining, signature shopping, outdoor adventure, and a variety of world-class events, scenic drives and attractions. Santa Clarita offers year-round events for everyone including several summer concert series, seasonal festivals, cultural and sporting events.
Address City Type Unit # Unit SF Type Rent per SF A 17733-17755 Sierra Hwy. Santa Clarita, CA 91351 Strip Center All 11,280 MG $1.26 B 17866 Sierra Hwy. Santa Clarita, CA 91351 Strip Center 1,350 MG $1.11 AVERAGES 6,315 $1.19 A B Average center rent per sf per sale information 3 Spaces leased out in the center within the last year RENT COMPARABLES
Address Sales Price Bldg. SF Lot SF Price Per Bldg. SF Close of Escrow CAP Year Built A 17205-17225 Sierra Hwy $2,970,000 24,966 50,312 $119 01/03/18 6.16% 1989 Santa Clarita, CA 91351 B 17733-17755 Sierra Hwy $2,250,000 11,048 28,906 $204 08/01/17 6.37% 1990 Santa Clarita, CA 91351 C 18316 Soledad Canyon Rd $1,450,000 3,600 12,846 $403 07/26/17 1979 Santa Clarita, CA 91387 D 17960 Sierra Hwy $950,000 4,200 11,461 $226 On Market 1985 Santa Clarita, CA 91351 AVERAGES $1,905,000 10,954 25,881 $242 6.27% 1986 SUBJECT $1,695,000 12,960 24,649 $131 (Proforma) 6.84% 1978/1964 A C D E Multi tenant Auto repair center - used for CAP rate comp only Multi tenant retail center Fully occupied at time of sale Sold to the Girl Scouts of Greater LA as an owner user Vacant property - available for sale SALE COMPARABLES
SALE COMPARABLES MAP
Unit # Use Unit SF Lease Start Lease End Current Rent /Mo. Current Rent / SF Proforma Rent / Mo. Proforma Rent / SF Lease Type CAM Charges Renewal Options 17718 Vacant 1,440 $1,706 $1.19 MG $144.00 17720 Vacant 1,440 $1,706 $1.19 MG $144.00 17722 Vacant 1,440 $1,706 $1.19 MG $144.00 17724 Vacant 1,440 $1,706 $1.19 MG $144.00 17728 A B Vacant 2,960 $2,960 $1.00 MG $296.00 17730 32 Sierra Saloon 2,430 4/1/2016 3/31/2019 $1,800 $0.74 $1,800 $0.74 MG $256.23 One (2) Y 17734 Vacant 810 $960 $1.19 MG $81.00 Total 11,960 $1,800 $12,545 $1,209.23 Average $0.74 $1.10 Current Annual Rent $21,600 Pro forma Annual Rent $150,545 * CAM charges estimated at $0.10 per/sf Note: Rent roll square footage are estimates only. Buyer to conduct his own investigation and confirm square footage. RENT ROLL
FINANCIAL INDICATORS ANNUALIZED OPERATING DATA: Price: $1,695,000 CURRENT PROFORMA Down Payment: $1,695,000 Scheduled Gross Income (SGI): $21,600 $150,545 Down Payment %: 100% CAM Reimbursement*: $3,075 $14,511 Total Operating Income: $24,675 $165,056 Vacancy (5%): Actual (81.2%) ($8,253) Proforma CAP: 6.84% Gross Operating Income: $24,675 $156,803 Proforma NOI: $115,985 Cost Per Sq. Ft.: $131 Total Operating Expenses: ($36,950) ($40,818) Net Operating Income / CAP Rate: ($12,275) $115,985 6.84% Estimated CAPEX Cost: $332,985 CAP Rate capturing CAPEX Costs: 5.72% ESTIMATED ANNUALIZED OPERATING EXPENSES Current Proforma Taxes (1.188% + $985 Direct assesment): $21,122 $21,122 PROPERTY ABSTRACT Insurance: Estimated $6,480 $6,480 Utilities: Estimated $3,600 $3,600 Rubbish: Estimated $1,800 $1,800 Year Built: 1978/1964 Cleaning Repairs & Maint Estimated $2,400 $2,400 Lot Sq. Ft:(Total per title)* 24,649 Management (3% of SGI) Estimated $648 $4,516 Bldg. Gross Sq. Ft:(Total per title)* 12,960 Landscape: Estimated $0 $0 Parking Spaces: 33 Pest Control: Estimated $900 $900 APN # 2839-014-034/35/36 Total Expenses: $36,950 $40,818 Zoning CC Expense Per SF Monthly $0.24 $0.26 Expense Per SF Annual $2.85 $3.15 *The square footage noted is per the Assessor's records & title buyer to conduct his own investigations and verify FINANCIAL SUMMARY
Offering Price: $1,695,000 For more information please contact: RON FEDER Managing Director D. 818. 222.0404 E. Rfeder@rjfeder.com CalBRE#00983855 www.rjfeder.com RAMI MEHERABAN Sr. Associate D. 323. 471.4747 E. RamiM@kw.com CalBRE#01957846 www.rjfeder.com Keller Williams Realty Calabasas does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of the property provided by the owner or obtained from public records or other sources and the tenant / buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals.