Pomona, CA (LA County)
EXECUTIVE SUMMARY 1700 West Holt Avenue Pomona, CA 91768 PROPERTY INFORMATION $3,800,000 $ Price $3,000,000 $265 6,6% Price/SF $209.59 CAP Rate 7.93% Rentable Square Feet 14,314 Square Feet Year Built 1955 Lot Size 1.47 Acres VITA DATA $250,800 Net Operating Income - Current $237,838.00 TENANT SUMMARY Ownership Private Tenant Private Company Lease Guarantor Private Guarantee Lease Type Net Leased Roof and Structure Landlord Responsible Lease Term 20 20 Years Sep 1-2017 Sep 1-2017 June 30-2017 Lease Commencement June 1, 2007 Rent Commencement June 1, 2007 Lease Expiration Date May 31, 2027 Terms Remaining On Lease 10+ / - Years 2% per year Increases 10% Options Two, Five-Year Options YEAR LEASE YEAR MONTHLY RENT ANNUAL RENT % INCREASE: LL EXPENSE ($0.15/ SF) NOI CAP RATE 06/12-05/17 6-10 $20,000 $240,000 N/A $2,162 $237,838 7.93% 06/17-05/22 11-15 $22,000 $264,000 10% $2,162 $261,838 8.78% 06/22-5/27 16-20 $24,200 $290,400 10% $2,162 $288,238 9.61% 06/27-05/32 21-25 (Option 1) $26,620 $319,440 10% $2,162 $317,278 10.58% 06/32-05/37 26-30 (Option 2) $29,282 $351,384 10% $2,162 $349,222 11.64% Net Operating Income $237,838.00 2 future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220 2
EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS» THE CHATEAU»» Great Visibility on the Primary Corrider Holt Avenue» Strong Demographics With Over 373,826 People Within Five-Mile Radius» Inland Empire and is Expanding INVESTMENT OVERVIEW Superior Marcus and RE Millichap Group is pleased to present Thee Chateau Restaurant and Banquet Hall located at 1700 West Holt Avenue in the city of Pomona, California. The fee simple offering consists of one building situated on approximately 1.44 acres of land excess of 30,500 vehicles per day. Neighoring retailers along the Holt Avenue artery include Cardenas Market, Big 5 Sporting Goods, Burger King, Alberto's Mexican Food, and more. Text $64,278, which is above the nation's median household income of $51,972. The subject property is fully occupied. The business lends itself to the demographics of the area and is booked every weekend for events through the end of the year. in between the Inland Empire and the San Gabriel Valley. As of the 2010 United Angeles in the Pomona Valley. According to the United States Census Bureau, the city Angeles, 25 miles north of Santa Ana, 31 miles west of Riverside, and 37 miles west of San Bernardino. 3 future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220
EXECUTIVE SUMMARY THEE Thee CHATEAU Chateau Lease Abstract TENANT PREMISES Thee Chateau- Restaurant and Banquet Hall DATE OF LEASE June Sep 1, 1-2017 2007 LEASECOMMENCE- MENT A 14,314 SF restaurant and banquet hall located at West Holt Avenue in Pomona, CA June Sep 1, 1-2017 2007 LEASE EXPIRATION May June 31, 30-2037 2027 LEASE TERM RENEWAL OPTIONS Twenty Years Two, Five-Year Options ANNUAL RENT Years 6-10 $240,000 Years 11-15 $264,000 Years 16-20 $290,400 OPTION RENT Years 21-25 (Option1) $319,440 Years 26-30 (Option 2) $351,384 Thee Chateau is a restaurant and banquet hall in Pomona dedicated to remaking our clients' dreams of their event becoming a reality by being the best place. We have several years of experience and have served the community by providing the best customer service. any social event you are planning. Our goal is to make your event unforgettable, our staff is professional and has the experience to guide and help you choose the best package to make your event the best possible and above all that is within your budget. approximate. Buyer must verify the information and bears all all risk risk for for any any inaccuracies. Any Any projections, opinions, assumptions or estimates or estimates used used herein herein are for are example for example purposes purposes only and only do and not do represent not represent the current the current or future or future performance performance of the of property. the property. Marcus Marcus & Millichap & Millichap Real Estate Real Estate Investment Investment Services Services is a service is a service mark of mark Marcus of Marcus & Millichap & Millichap Real Estate Real Estate Investment Investment Services, Services, Inc. Inc. 2011 Marcus 2011 Marcus & Millichap & Millichap ACT ACT ID ID X0080220 4
Year Monthly Rent Annual Rent Or Noi % Increase CAP 10/17-6/18 $20,900 $250,800 2% 6.35% 7/18-6/19 $21,318 $255,816 2% 6.50% 7/19-6/20 $21,744 $260,932 2% 6.60% 7/20-6/21 $22,179 $266,151 2% 6.70% 7/21-6/22 $22,622 $271,473 2% 6.87% 7/22-6/23 $23,075 $276,903 2% 7.00% 7/23-6/24 $23,536 $282,441 2% 7.15% 7/24-6/25 $24,007 $288,090 2% 7.30% 7/25-6/26 $24,487 $293,852 2% 7.44% 7/26-6/27 $24,977 $299,729 2% 7.59% 7/27-6/28 $25,476 $305,723 2% 7.74% 7/28-6/29 $25,986 $311,838 2% 7.89% 7/29-6/30 $26,506 $318,075 2% 8.05% 7/30-6/31 $27,036 $324,436 2% 8.20% 7/31-6/32 $27,577 $330,925 2% 8.37% 7/32-6/33 $28,128 $337,543 2% 8.54% 7/33-6/34 $28,691 $344,294 2% 8.71% 7/34-6/35 $29,265 $351,180 2% 8.89% 7/35-6/36 $29,850 $358,204 2% 9.06% 7/36-6/37 $30,447 $365,368 2% 9.25%
EXECUTIVE SUMMARY MARKET OVERVIEW - POMONA, CALIFORNIA POMONA, CA: SAVVY INVESTORS CONTINUE TO CHOOSE POMONA County, California. Pomona is located in between the Inland Empire and the San Gabriel Valley. As of the 2010 United States Census, the city's population the Pomona Valley. According to the United States Census Bureau, the city has a total area of 22,964 square miles, over 99% of it is land. Pomona is north of Santa Ana, 31 miles west of Riverside, and 37 miles west of San Bernardino. SUBJECT PROPERTY THEE Thee CHATEAU Chateau NEIGHBORHOOD DEVELOPMENT Since the 1980s, Pomona's newest neighborhood Phillips Ranch, experienced rapid growth with homes still being built in the hilly area between Downtown and Diamond Bar. Today, Phillips Ranch is nearly all residential. Northern Pomona has seen some and revamped streetscapes. Pomona Electronics was originally based in the city. According to the City's 2009 Comprehensive Annual Financial Report, the top employers in the city and number of employees 5 approximate. Buyer must verify the information and bears all all risk risk for for any any inaccuracies. Any Any projections, opinions, assumptions or estimates or estimates used used herein herein are for are example for example purposes purposes only and only do and not do represent not represent the current the current or future or future performance performance of the of property. the property. Marcus Marcus & Millichap & Millichap Real Estate Real Estate Investment Investment Services Services is a service is a service mark of mark Marcus of Marcus & Millichap & Millichap Real Estate Real Estate Investment Investment Services, Services, Inc. Inc. 2011 Marcus 2011 Marcus & Millichap & Millichap ACT ACT ID ID X0080220
EXECUTIVE PROPERTY DESCRIPTION SUMMARY THEE Thee CHATEAU Chateau PROPERTY PHOTOS Price $3,800,000 3,000,000 Price/SF $265$209.59 CAP Rate 6,6 % 7.93% Rentable Square Feet ± 14,300 Square Feet Year Built 1955 Lot Size 1.47 Acres Thee Chateau future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220 X0080213 6
EXECUTIVE PROPERTY DESCRIPTION SUMMARY 52,677 ADT Dollar General THEE Thee CHATEAU Chateau AERIAL MAP ORANGE GROVE W- 6,162 CPD SUBJECT PROPERTY HOLT BOULEVARD - 30,238 CPD 7 approximate. Buyer must verify the information and bears all all risk risk for for any any inaccuracies. Any Any projections, opinions, assumptions or estimates or estimates used used herein herein are for are example for example purposes purposes only and only do and not do represent not represent the current the current or future or future performance performance of the of property. the property. Marcus Marcus & Millichap & Millichap Real Estate Real Estate Investment Investment Services Services is a service is a service mark of mark Marcus of Marcus & Millichap & Millichap Real Estate Real Estate Investment Investment Services, Services, Inc. Inc. 2011 Marcus 2011 Marcus & Millichap & Millichap ACT ACT ID ID X0080220
PROPERTY DESCRIPTION THEE Thee CHATEAU Chateau LOCAL MAP 8 future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220 8
PROPERTY DESCRIPTION REGIONAL MAP THE CHATEAU future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220 9
PROPERTY DESCRIPTION TRAFFIC COUNTS 6,162 CPD 6,979 CPD 30,238 CPD future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220 10
PROPERTY DESCRIPTION DEMOGRAPHICS MAP Population 1-Mile 3-Miles 5-Miles 2014 Population 25,865 140,995 359,949 2019 Population 26,192 142,125 364,714 Households 1-Mile 3-Miles 5-Miles 2010 Households 6,033 36,321 101,977 2014 Households 6,193 37,493 106,437 2019 Households 6,242 37,838 108,275 2014 Average HH Size 4.11 3.58 3.26 2014 Daytime Population 6,015 41,773 113,745 2000 Owner Occupied Housing Units 51.46% 58.92% 65.34% 2000 Renter Occupied Housing Units 42.88% 36.84% 31.53% 2000 Vacant 5.67% 4.24% 3.14% 2014 Owner Occupied Housing Units 51.75% 58.11% 64.55% 2014 Renter Occupied Housing Units 48.25% 41.89% 35.45% 2014 Vacant 3.45% 2.46% 1.62% 2019 Owner Occupied Housing Units 51.50% 57.68% 64.25% 2019 Renter Occupied Housing Units 48.50% 42.32% 35.75% 2019 Vacant 3.20% 2.32% 1.53% 5 MILES 10 MILES Income 1-Mile 3-Miles 5-Miles $ 0 - $ 14,999 12.6% 11.2% 9.3% $ 15,000 - $24,999 13.5% 11.5% 9.4% $ 25,000 - $34,999 12.7% 9.9% 8.3% $ 35,000 - $49,999 18.4% 15.4% 13.4% $ 50,000 - $74,999 19.7% 19.0% 18.6% $ 75,000 - $99,999 12.3% 13.0% 13.5% $100,000 - $124,999 5.7% 7.8% 9.9% $125,000 - $149,999 2.4% 4.6% 6.1% $150,000 - $200,000 1.3% 4.1% 6.5% $200,000 to $249,999 0.5% 1.4% 2.1% $250,000 + 0.8% 2.2% 3.0% 2014 Median HH Income $43,100 $52,313 $62,429 2014 Per Capita Income $13,246 $19,914 $25,931 2014 Average Household Income $54,947 $72,434 $85,540 1 MILE THE CHATEAU future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220 11
PROPERTY DESCRIPTION Demographic Summary -- 10 Miles Population In 2014, the population in your selected geography is 359,948. The population has changed by 2.55% since 2000. It is estimated that the population in of 1.32% from the current year. The current population is 49.15% male and 50.84% female. The median age of the population in your area is 34.1, compare this to the Entire US average which is 37.3. The population density in your area is 4,582.31 people per square mile. Households There are currently 106,437 households in your selected geography. The number of households has changed by 4.37% since 2000. It is estimated that which represents a change of 1.72% from the current year. The average Income In 2014, the median household income for your selected geography is $62,428, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 20.12% since 2000. It is estimated that the median household income in your area will be current year. Race & Ethnicity The current year racial makeup of your selected area is as follows: 52.53% Islander. Compare these to Entire US averages which are: 71.60% White, People of Hispanic origin are counted independently of race. People of Hispanic origin make up 52.70% of the current year population in your selected area. Compare this to the Entire US average of 17.13%. Housing In 2000, there were 68,784 owner occupied housing units in your area and there were 33,191 renter occupied housing units in your area. The median rent at the time was $655. Employment In 2014, there are 113,744 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 61.19% of employees are employed in white-collar occupations in this geography, and 38.78% are employed in blue-collar occupations. In 2014, unemployment in this area is 8.75%. In 2000, the average time traveled to work was 32.9 minutes. The current year per capita income in your area is $25,2930, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $85,539, compare this to the Entire US average which is $74,533. Demographic data 2014 US CENSUS 12 future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2011 Marcus & Millichap ACT ID X0080220
exclusively listed Exclusively listed by: Superior Real Estate Group Ryan Twigg Associate Lam Truong Realtor Tel: 714-786.0540 ONTARIO OFFICE Tel: (909) 456-3446 Fax: (909) 456-3410 Ryan.Twigg@marcusmillichap.com Licenses: 01983971 Lamrealtor8899@gmail.com Lic# 01966622 Pablo Rodriguez Associate Director, National Retail Group ONTARIO OFFICE Tel: (909) 456-7032 Fax: (909) 456-3410 Pablo.Rodriguez@marcusmillichap.com Licenses: CA 01870757 OFFICES THROUGHOUT THE UNITED STATES AND CANADA www.marcusmillichap.com