FOR SALE 2995 MONUMENT BOULEVARD CONCORD, CA 5,803 SF 7-Eleven Anchored Strip Center Investment Highlights 7-Eleven anchored strip center Core Bay Area commercial asset located 0.5 miles away from downtown Concord Hard corner identity along busy Monument Boulevard (ADT: 37,000) 100% occupied Investment grade anchor accompanied by stable, local tenants 3-mile radius population of 148,097 & ASSOCIATES
CONTENTS 03 Investment Overview 04 Property Overview 05 Site Aerial 06 High Altitude Aerial 07 Site Plan 08 Photos 09 Parcel Map 10 Location Map 11 Rent Roll 12 Financial Analysis 13 Location & Market Analysis 14 Lease Comparables 15 Sale Comparables 16 Demographics & ASSOCIATES
Investment Overview 3 2995 Monument Boulevard is a multi-tenant retail strip center located in Concord, CA, a core San Francisco Bay Area market. The property consists of a 5,803 SF strip center comprised of four retail suites. The subject property is anchored by 7-Eleven, an investment grade tenant that has occupied the space for over 30 years. The 7-Eleven lease has nine years remaining in the primary term, with two additional five year options. The subject property s remaining three suites benefit from a stable tenant mix of local retailers. A prospective investor will have the opportunity to keep the tenant mix as-is or create value through upgrading the tenant mix with national retailers such as pizza chains, fast casual restaurants, financial services, etc. The subject property is located on the busy Monument Boulevard with an average daily traffic count of 37,000 vehicles. Located near multiple demand generators, this retail center also benefits from its close proximity to downtown Concord. 3 & ASSOCIATES
7-Eleven has occupied the space for over 30 years! Investment Property Summary Overview 4 4 2995 Monument Boulevard consists of a 5,803 SF retail strip center. The property is currently 100% leased. Address 2995 Monument Blvd, Concord, CA 94520 Total Land Area 24,486 SF / 0.562 AC % Leased 100% Parcel # APN: 126-170-031-2 Building Core 5,803 Bay SF Area Retail Center Site Conditions Improved Traffic Counts Monument Blvd: 37,000 ADT Cowell Rd: 19,010 ADT Access Signalized intersection Monument Blvd and Oakmead Dr Adjacent Uses Local market across Oakmead Dr. Residential to the rear. 4 & ASSOCIATES
G ALINDO ST 28,000 ADT Investment Site Summary Aerial 5 5 SITE MONUMENT BLVD - 37,000 ADT COWELL RD 19,010 ADT 5 & ASSOCIATES
T AD -5 426-3460 CLAYTON ROAD, BLVD CONCORD, CA 94519 2995 MONUMENT CONCORD, CA R CO N CO VE DA 27 0,8 High Altitude Aerial Downtown Concord Bank of America Metroplex CLA YTO N RD 0 8,00 YT CLA - 33 T AD 2 DO ST LIN GA O D NR 4,96 Concord Police Department ADT SITE D U MENT B LV 242 COW 000 ADT -37, 680 M ON Sunvalley Shopping Center CLA YTO N RD - 33, 526 ADT & ASSOCIATES - 33, ELL RD - 19,0 10 A DT Scott Valley TNF Systron Donner 526 ADT 6
Site Plan 7 7 7 & ASSOCIATES
Photos 8 8 & ASSOCIATES
Parcel Map 9 SITE Parcel #: 126-170-031-2 Bldg SF: 5,803 Lot Ac/SF: 0.562/24,486 Use: Store Building Stories: 1 # of Units: 4 Year Built: 1987 Assessor s map Book 126, Page 17 Constra Costa County, California 9 & ASSOCIATES
Location Map 10 Area Map Location Map SITE SITE MAPS NOT TO SCALE. 10 & ASSOCIATES
Rent Roll 11 Tenant Rentable Area (SF) Monthly Rent (2018) Annual Rent (2018) Monthly Rent PSF (2018) Annual Rent PSF (2018) Lease Type Lease Eff. Lease Exp. Option Thru Comments 2018 7-Eleven 2,560 $10,000 $120,000 $3.91 $46.88 NNN 2/21/1986 11/30/2026 11/30/2036 Lease revised 1/22/2016. Rent increased to $11,000 on 12/1/2021, $12,100 on 12/1/2026 (1st option), and $13,310 on 12/1/2031 (2nd option). 7-Eleven also responsible for a share of NNN & PG&E expenses, see Analysis. Concord Sports 1,200 $2,800 $33,600 $2.33 $28.00 Gross 2/1/2011 1/31/2019 N/A Lease renewed on 1/30/2016 (final option) Yola's Beauty Salon 700 $2,000 $24,000 $2.86 $34.29 Gross 1/1/2012 1/31/2020 N/A Lease revised on 1/12/2015 Monument Grill 1,190 $3,105 $37,260 $2.61 $31.31 Gross 1/1/2013 1/31/2020 N/A Lease renewed on 1/31/2017 (final option) Total 5,650 $17,905 $214,860 11 BRANDON JOHN NORTON CUMBELICH t. 925.935.5400 X101 CA-BRE Lic #01006249 BRANDON JOHN NORTON CUMBELICH & ASSOCIATES t. 925.935.5400 Walnut Creek, X110 CA 94596 CA-BRE t. 925.935.5400 Lic #01985777 f. 925.940.9583
Financial Analysis 12 2018 Scheduled Base Rent $214,860.00 2018 Estimated Reimbursed Expense Income 80% of PG&E Expenses (7-Eleven Tenant) $1,524.00 45% of Other Operating Expenses (7-Eleven Tenant) $41,389.00 2018 Estimated Reimbursed Expense Income $42,913.00 2018 Estimated Operating Expenses PG&E $1,905.00 Common Area Maintenance $35,529.00 Management $14,000.00 Property Tax* $32,815.00 Property Insurance $9,632.00 2018 Estimated Operating Expenses $93,881.00 Financial Analysis Summary 2018 Scheduled Base Rent $214,860.00 2018 Estimated Reimbursed Expense Income $42,913.00 2018 Estimated Operating Expenses ($93,881.00) Vacancy & Reserve Cost (5%) ($10,743.00) Net Operating Income $153,149.00 *Property tax based on reassessment after $2.5M sale & ASSOCIATES
Location & Market Analysis 13 The City of Concord Concord, adjacent to beautiful Mt. Diablo, and has a population of over 122,000 residents. Due to its location and size, Concord features a large selection of retail, restaurants, and entertainment, and serves many surrounding communities including Lafayette, Orinda, Walnut Creek, and Pleasant Hill. With a dynamic business core, Concord has created a strong, sustainable economy. A significant number of major corporations and technology companies such as Bank of America Technology Center, PG&E, and John Muir Health have chosen to locate in Concord, drawing on a well-educated workforce, employee amenities, and convenient location accessible by public transportation. Concord has maintained the steady growth of both its business and residential communities. The City provides ready access to San Francisco, Silicon Valley, the growing North Bay and Sacramento, as well as some of the world s leading universities. Business-friendly government policies, outstanding Class-A office space values, numerous industrial parks, and excellent transportation combine with favorable home prices, an educated workforce, a dynamic retail environment, and an enviable quality of life to make Concord a premier business location. 13 & ASSOCIATES
Lease Comparables 14 Subject # Tenant Location City Rentable SF Date Signed Base Rent Lease Comparables 1 Urgent I Care 3526 Clayton Rd Concord 1,200 03/16 2 Cheng Shau 2002 Salvio St Concord 2,000 06/15 $24.00 / NNN $24.00 / NNN Location Price Bldg 2995 Monument Blvd Concord, CA 94520 Unpriced 5,803 SF 3 Dunkin Donuts 4383 Clayton Rd Concord 2,000 01/17 5 6 Available Freestanding Restaurant Bldg Strip Center Retail Space $48.00 / NNN 3399 Clayton Rd Concord 3,800 Asking Rent 3540 Clayton Rd Concord 1,090 Asking Rent $24.60 / NNN $19.20 / NNN Parcel 0.562 Acre (24,486 SF) 7 Treat Plaza Center Retail Space 4475 Treat Blvd Concord 1,564 Asking Rent $27.00 / NNN 8 Clayton Plaza Retail Space 4436 Clayton Rd, #H Concord 1,500 Asking Rent $24.00 / NNN 9 Grocery Anchored Center 1853 Monument Blvd Concord 1,500 Asking Rent $33.00 / NNN 14 & ASSOCIATES
Sales Comparables 15 Subject # Location City Rentable SF Price Price Per SF Cap Rate Date Sold 1 1924 Grant St Concord 8,680 SF $1,550,000 $179/SF 5.39 5/22/2017 2 4500 Clayton Rd Concord 4,170 SF $2,400,000 $552/SF 5.65 10/19/2015 Location Price 2995 Monument Blvd Concord, CA 94520 Unpriced 3 1097 Mohr Ln Concord 2,000 SF $1,000,000 $500/SF 3.29 5/19/2015 Bldg 5,803 SF Parcel 0.562 Acre (24,486 SF) 15 & ASSOCIATES
Demographics 16 1 Mile 3 Mile 5 Mile Population 2017 Estimated Population 31,572 148,097 268,605 2022 Projected Population 33,459 156,163 283,039 2010 Census Population 28,502 137,084 245,530 2000 Census Population 27,353 136,123 242,223 Projected Annual Growth 1% 1% 1% Historical Annual Growth 1% 1% 1% 2017 Median Age 339 38 40 Daytime Population (Age 16+) 21,666 110,533 209,889 Households 2017 Estimated Households 10,748 54,330 100,485 2022 Projected Households 11,274 56,650 104,705 2010 Census Households 10,142 52,350 95,658 2000 Census Households 10,074 52,169 94,576 Projected Annual Growth 2017 to 2022 1% 1% 1% Historical Annual Growth 2000 to 2017 1% 1% 1% Race & Ethnicity 2017 Estimated White 50.7% 62.2% 66.0% 2017 Estimated Black or African American 5% 4% 4% 2017 Estimated Asian or Pacific Islander 13% 15% 15% 2017 Estimated American Indian/Native Alaskan 1% 1% 1% 2017 Estimated Other Races 30% 18% 15% 2017 Estimated Hispanic 50% 29% 22% 1 Mile 3 Mile 5 Mile Income 2017 Estimated Average Household Income $76,021 $112,267 $130,503 2017 Estimated Median Household Income $57,718 $86,671 $99,963 2017 Estimated Per Capita Income $26,066 $41,347 $49,018 Education 2017 Estimated Elementary (Grade 0-8) 10% 5% 4% 2017 Estimated Some High School (Grade 9-11) 9% 6% 4% 2017 Estimated High School Graduate 25% 20% 17% 2017 Estimated Some College 23% 23% 22% 2017 Estimated Associates Degree Only 6% 8% 8% 2017 Estimated Bachelors Degree Only 19% 26% 29% 2017 Estimated Graduate Degree 8% 12% 15% Business 2017 Estimated Total Businesses 1,628 7,285 13,309 2017 Estimated Total Employees 21,666 110,533 209,889 2017 Estimated Employee Population per Business 8 9 10 2017 Estimated Residential Population per Business 19 20 20 & ASSOCIATES
FOR SALE 2995 MONUMENT BOULEVARD CONCORD, CA 5,803 SF 7-Eleven Anchored Strip Center The information contained in this document has been secured from sources we believe reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. We bear no liability for any errors, inaccuracies or omissions. & ASSOCIATES