PROPERTY HIGHLIGHTS: True NNN lease Rare opportunity to purcase a medical office building in Pittsburg Tenant as over 20 oter locations trougout Solano, Contra Costa, and Alameda County FOR SALE 2240 Gladstone Drive, Ste 4 & 5 (3,530 SQ FT) Pittsburg, California Ryan Dong Associate (925) 271-5651 Ryan.Dong@ngcip.com License #01991292 Xavier Santana President (925) 226-2455 Xavier@ngcip.com License #01317296 www.ngcip.com Broker # 01910787 T (209) 477-4400 F (209) 476-7344
PROPERTY SUMMARY ASKING PRICE: PER SQUARE FOOT: $1,150,000 $325.78 CAP RATE: 6.94% PROPERTY GLA: Suite 4 ± 1,550 Sq Ft Suite 5 ± 1,980 Sq Ft Total ± 3,530 Sq Ft APNs: 088-521-032-8 088-521-033-6 ZONING: Commercial Office (CO) TRAFFIC COUNTS: East Leland Road ± 26,000 ADT PROPERTY HIGHLIGHTS: Tenant as occupied te building for over 15 years Surrounding area tenants consist of Walmart, Los Medanos College, Pittsburg Healt Center, and muc more Witin a 3-mile radius tere is a population of ± 86,487 wit an average ouseold income of $70,537 Adjoining office condos are also available for purcase
PROPERTY INCOME AND SUMMARY EXPENSES FINANCIAL STRUCTURE Sceduled Gross Income Actual-In- Place Rent Proforma Amount Base Rent $79,849 $82,965 Expense Recoveries $14,302 $26,370 Oter Income $0 $0 Lease-Up Available Space $0 $0 Subtotal $94,151 $109,335 Less Vacancy Allowance $0 $0 Effective Gross Income $94,151 $109,335 Less Expenses $14,302 $26,370 Net Operating Income $79,849 $82,965 Total Building Suite 4/5 (2016) 2018 Proforma ESTIMATED OPERATING EXPENSES Exp 2016 Actuals Expenses Taxes $6,836 $6,836 $11,788 Insurance $2,142 $1,008 $1,034 Garbage $4,014 $1,890 $1,937 Association Fee $825 $388 $398 Pest Control $231 $109 $111 PG&E $477 $225 $230 Landscaping and Repairs $1,711 $806 $826 Roof Repair $1,995 $939 $963 Utilities $1,284 $604 $620 Water $1,680 $791 $811 Capital Reserve $0 $0 $3,280 Property Management $1,500 $706 $4,373 Total $22,695 $14,302 $26,370 Annual Per Square Foot $6.43 $4.05 $7.47 Montly Per Square Foot $0.54 $0.34 $0.62 ASSUMPTIONS Proforma management fees @: 4.000% Proforma property taxes based on top matrix price at: 1.025% Capital Reserve at: 3.000%
PROPERTY RENT ROLL SUMMARY Suite Tenant Ste Size (Sq Ft) Montly Base Rate Mon Rent (PSF) Ann Rent (PSF) % of Total Bldg Income Mon Mkt Rent (PSF) Ann Mkt Rent (PSF) Lease Type Start Date Exp Date STE 4 La Clinica 1,550 $3,023 $1.95 $23.40 45.4% $1.75 $21.00 NNN Aug-14 Dec-18 STE 5 La Clinica 1,980 $3,631 $1.83 $22.01 54.6% $1.50 $18.00 NNN Jan-17 Dec-20 Total 3,530 $6,510 100.0% $1.84 100.00% $1.63 Leased 3,530 $78,120 100.0% Available 0 Notes: STE 4- STE 5- No options remaining No options remaining
PROPERTY TENANT PROFILE SUMMARY La Clinica s mission is to improve te quality of life of te diverse communities we serve by providing culturally appropriate, ig quality, and accessible ealt care for all. Tis ealt center as grown into a sopisticated provider of primary ealt care and oter services spread across Alameda, Contra Costa, and Solano Counties. Wit a total of 40 locations including service sites, support sites, and administration, we continue to expand our reac in our community. La Clinica delivers ealt care services in a culturally and linguistically appropriate manner to effectively address te needs of diverse populations. Wit over fortysix years of experience serving te community, La Clinica is one of te largest community ealt centers in California. MEDICAL SERVICES: Medical Dental Vision and Eye Care Women s Healt Prenatal and Postnatal Care Preventative Medicine Healt Education Nutrition Education Adolescent Services Mental Healt Beavioral Healt Case Management Referral Services Parmacy Radiology Laboratory
MARKET AERIAL Tracy, MARKET California AERIAL Pittsburg, California PG 3
PROPERTY SUMMARY POPULATION 1 mi Radius 3 mi Radius 5 mi Radius 2017 Estimated Population 16,047 86,487 152,603 2022 Projected Population 17,173 93,038 164,183 2010 Census Population 14,747 79,808 140,521 Projected Annual Growt 2017 to 2022 1.4% 1.5% 1.5% 2017 Median Age 34.3 33.6 34.7 HOUSEHOLDS 2017 Estimated Houseolds 5,157 27,062 47,165 2022 Projected Houseolds 5,426 28,600 49,862 2010 Census Houseolds 4,868 25,669 44,747 Projected Annual Growt 2017 to 2022 1.0% 1.1% 1.1% Historical Annual Growt 2000 to 2017 0.4% 0.5% 0.6% RACE AND ETHNICITY 2017 Estimated Wite 35.1% 40.7% 43.4% 2017 Estimated Black or African American 24.3% 18.3% 16.4% 2017 Estimated Asian or Pacific Islander 14.9% 11.9% 13.4% 2017 Estimated American Indian or Native Alaskan 0.8% 0.9% 0.9% 2017 Estimated Oter Races 24.9% 28.2% 25.9% 2017 Estimated Hispanic 37.1% 42.7% 39.3% INCOME 2017 Estimated Average Houseold Income $73,664 $70,537 $75,814 2017 Estimated Median Houseold Income $65,047 $62,701 $69,216 2017 Estimated Per Capita Income $23,759 $22,117 $23,492 BUSINESS 2017 Estimated Total Businesses 446 2,145 3,625 2017 Estimated Total Employees 6,014 22,555 32,286 RADIUS MAP 2017 Nortgate Commercial Real Estate. We obtained te information above from sources we believe to be reliable. However, we ave not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to te possibility of errors, omissions, cange of price, rental or oter conditions, prior sale, lease or financing, or witdrawal witout notice. We include projections, opinions, assumptions or estimates for example only, and tey may not represent current or future performance of te property. You and your tax and legal advisors sould conduct your own investigation of te property and transaction. PG 4