OFFERING MEMORANDUM 1116 & 1206 AMPHLETT BLVD SAN MATEO, CA 1
OPPORTUNITY OVERVIEW For all the debate about the relative economic strength and stature of traditional Silicon Valley (Santa Clara County) versus the new Silicon Valley (including San Francisco), San Mateo County is arguably outrunning both. Perfect Space in a Very Hot Place --- Silicon Valley One World Halfway between Silicon Valley and San Francisco is booming San Mateo, home to established tech giants, scores of startups and this half-acre property with two buildings, approximately 18,000 sq. ft. of combined office/warehouse space and a 20-vehicle parking lot. Location...Repeat Repeat The property fronts on 101 (with visible signage!), is just minutes from SFO, and one exit from 92 and the East Bay. It s a 5-minute walk to the Hayward Park Cal Trans Station and the Delaware Corridor, anchored by the trendsetting Bay Meadows development. The San Mateo Station and downtown San Mateo s young and vibrant nightlife are just a 10-minute walk through quiet residential neighborhoods. Mixed Use, Ideal Solution This combination of finished office and conference room space with adjoining warehouse space is rare in San Mateo, and perfect for service and e-commerce companies that may need to store, package and distribute from headquarters. The warehouse areas can also be easily converted to open, communal workspaces. As an income investment, a home for a growing company or a prospect for redevelopment, 1116 & 1206 S. Amphlett are not only located in the heart of San Mateo s dynamic growth, they were made for it. 2
1116 & 1206 AMPHLETT BLVD SAN MATEO, CA OFFERED BY: Anne Oliva Owner Marshall Realty Office: (650) 873-6844 Cell: (650) 291-9775 anne@marshallrealty.com BRE# 00980260 Denise Baker Office: (650) 873-6844 Cell: (650) 888-1387 denise@marshallrealty.com BRE# 01230027 3
TABLE OF CONTENTS Offering Summary 5 Unit Mix/Schedule Income 6 Property Overview 7 1116 Amphlett Blvd Unit Detail 8 1206 Amphlett Blvd Unit Detail 12 Pro Forma Operating Statement 15 Current Operating Statement FY 2016 16 Rent Roll 17 Property & Parking Photographs 18 Aerial Map 19 Parcel Map 19 4
OFFERING SUMMARY Address 1116 & 1206 Amphlett Blvd, San Mateo Price $6,000,000 # of Units 7 Price per Unit ~$785,714 Gross Annual Scheduled Income (Projected Market Rent) $510,444 Zoning C4 Assessor s Parcel Number 035-066-420 & 035-066-430 Year Built 1980 Lot Size (per source) Parking +/-10,934 SF & +/- 10,934 SF 20 Vehicles 5
UNIT MIX / SCHEDULE MONTHLY INCOME 1116 AMPHLETT BLVD 4 Units, 9,300 SF of rental space Warehouse Only, $3,000 Office Only, $6,500 Office & Warehouse, $13,750 Based upon projected rental of $2.50 sq. ft. 1206 AMPHLETT BLVD 3 Units, 7,715 SF of rental space Office & Warehouse, $19,270 Based upon projected rental of $2.50 sq. ft. 6
PROPERTY OVERVIEW PROPERTY DESCRIPTION The property is a half acre lot with two combination office/warehouse buildings separated by a landscaped parking area with space for 20 vehicles. 1116 AMPHLETT has 4 units with 9,300 SF of rental space 1206 AMPHLETT has 3 units with 7,715 SF of rental space PROPERTY HIGHLIGHTS & IMPROVEMENTS Upgraded office space with remodeled bathrooms. Many units in pristine shape. Signage visible from 101 Freeway. 7
1116 AMPHLETT BLVD UNIT 1 UNIT 1 2,600 SF Two story executive office space. Ground floor includes large office, showroom and remodeled restroom, all with hardwood floors. Second floor has 2 private offices, conference room and small wet bar. All carpeted. Everything was redone by tenant and is in excellent condition. 8
1116 AMPHLETT BLVD UNIT 2 UNIT 2 2,850 SF Office/Warehouse combination. Ground floor has reception, office area and remodeled restroom, all with hardwood floors. Second floor has open office area and large conference room, all carpeted. Warehouse is 1,200 SF. Large 650 SF storage room. Everything redone by tenant and is in pristine shape. 9
1116 AMPHLETT BLVD UNIT 3 UNIT 3 2,650 SF Office/Warehouse combination. Ground floor has reception office area and remodeled restroom, all with hardwood floors. Second floor has open office area and large conference room, all carpeted. Warehouse is 1,650 SF. Includes large fenced-in outdoor storage area. Tenants are long-time occupants (18 years). The space is in good but not re-done condition. 10
1116 AMPHLETT BLVD UNIT 4 UNIT 4 1,200 SF Warehouse space only with mezzanine area added by former tenant. No restroom warehouse only. 11
1206 AMPHLETT BLVD UNIT 1 UNIT 1 4,096 SF Two story executive office space. Ground floor includes reception area, showroom and restroom. Second floor has large office area and private office. Warehouse is 1000 SF. Outside fenced-in area for storage or patio. Current tenant did all new interior paint, new carpet in stairwell and upstairs, new hardwood floors downstairs and fresh epoxy paint on the warehouse floors. This space shines. 12
1206 AMPHLETT BLVD UNIT 2 UNIT 2 1,856 SF Office/Warehouse combination. Ground floor has reception area, office area with hardwood flooring and remodeled restroom. Second floor has open office area, carpeted 900 SF warehouse with mezzanine. Excellent condition, with extensive improvements by tenant. 13
1206 AMPHLETT BLVD UNIT 3 UNIT 3 1,763 SF Two story executive office space. Ground floor includes reception area, showroom and restroom. Second floor has large office area with hardwood floors. Warehouse is 1000 SF. Current tenant did $75K in improvements including a kitchen area and remodeled bathroom. Space is in awesome condition. 14
PRO FORMA OPERATING STATEMENT - $2.50/Sq. Ft. INCOME Building 1116 Building 1206 Combined Gross Scheduled Rent Unit 1 $6,500 $10,240 Gross Scheduled Rent Unit 2 $7,125 $4,640 Gross Scheduled Rent Unit 3 $6,625 $4,407 Gross Scheduled Rent Unit 4 $3,000 Total Monthly Rent Income $23,250 $19,287 $42,537 Total Yearly Rent Income $279,000 231,444 $510,444 EXPENSES Gardening $50 $50 $100 Management Fee $465 $341 $806 Insurance $185 $185 $390 Water $38 $0 $38 Maintenance Labor $170 $0 $170 Total Monthly Expenses $908 $576 $1,484 Property Tax $6,901 $6782 $13,683 15
CURRENT OPERATING STATEMENT FY 2016 INCOME Building 1116 Building 1206 Combined Gross Scheduled Rent Unit 1 $6,890 $4,178 Gross Scheduled Rent Unit 2 $4,275 $2,969 Gross Scheduled Rent Unit 3 $3,975 $1,851 Gross Scheduled Rent Unit 4 $1,140 Total Monthly Rent Income $16,280 $8,998 $25,278 Total Yearly Rent Income $195,360 $107,976 $303,336 EXPENSES Gardening $50 $50 $100 Management Fee $465 $341 $806 Insurance $185 $185 $390 Water $38 $0 $38 Maintenance Labor $170 $0 $170 Total Monthly Expenses $908 $576 $1,484 Property Tax $6,901 $6782 $13,683 16
RENT ROLL - $2.50/Sq. Ft. 1116 AMPHLETT BLVD 4 Units, 9,300 SF of rental space # of units Unit Type Approx. SF Current Rent Average Current Rent Est. Market Rent Est. Market Rent per SF Unit 1 Exec.Office 2600 $1,924 $1,924 $6,500 $2.50 Unit 2 Off/Ware 2850 $2,109 $2,109 $7,125 $2.50 Unit 3 Off/Ware 2650 $3,562 $3,562 $6,625 $2.50 Unit 4 Warehouse 1200 $1,140 $1,140 $3,000 $2.50 Total 9300 $8,735 $8,735 $23,250 1206 AMPHLETT BLVD 3 Units, 7,715 SF of rental space # of units Unit Type Approx. SF Current Rent Average Current Rent Est. Market Rent Est. Market Rent per SF Unit 1 Off/Ware 4096 $4,178 $4,178 $10,240 $2.50 Unit 2 Off/Ware 1856 $1,578 $1,578 $4,640 $2.50 Unit 3 Off/Ware 1763 $1,798 $1,798 $4,407 $2.50 Total 7715 $7,554 $7,554 $19,287 17
PROPERTY & PARKING PHOTOGRAPHS 1116 AMPHLETT BLVD 1206 AMPHLETT BLVD 18
MAPS PARCEL MAP AREA MAP 19
UNIQUE OPPORTUNITY 20