Keegan & Coppin REAL ESTATE KEEGAN & COPPIN COMPANY, INC. ONCOR INTERNATIONAL Commercial Real Estate Services INDUSTRIAL INVESTMENT OFFERING 253-257 & 285 SUTTON PLACE, California SALE PRICE: $2,670,000 Vicinity Map For More Information Contact: Shawn Johnson, Managing Partner SIOR KEEGAN & COPPIN COMPANY, INC. ONCOR INTERNATIONAL 1355 North Dutton Avenue, CA 95401 (707) 528-1400 Fax (707) 524-1423 Email: SJohnson@keegancoppin.com License #: 00835502 www.keegancoppin.com O N C O R I N T E R N A T I O N A L Offi ces in 220 Cities: UNITED STATES, CANADA, DENMARK, FRANCE, GERMANY, INDIA, AUSTRIA, RUSSIA, CHINA, AUSTRALIA, UNITED KINGDOM, THE NETHERLANDS, MEXICO, JAPAN, ITALY, SPAIN, SWITZERLAND, CZECH REPUBLIC, BELGIUM, POLAND, NORWAY, UKRAINE, SWEDEN, FINLAND, HUNGARY, BRAZIL, CHILE, ARGENTINA, IRELAND The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal. An interested party should verify the status of the property and the information herein. Maps provided by Google Inc. & Microsoft Corp., respectively.
TABLE OF CONTENTS Section 1 Investment Summary & Highlights Section 2 Property Summary Section 3 Annual Income/Expense Summary Rent Roll Section 4 Aerial, Vicinity Map, Site Plan Section 5 Sales Comparables Section 6 Lease Comparables
Section 1 INVESTMENT SUMMARY & HIGHLIGHTS PROPERTY OVERVIEW Price $2,670,000.00 Price Per SF $77.35 NOI (Annual) proforma $200,284 Cap Rate 7.5% Annual Debt Service $115,189 Annual Cash Flow $85,095 Cash On Cash % 7.8% Proforma Loan Lender (Proforma) US Bank Origination Date COE Maturity 5 Years Loan Amount $1,580,000 Interest Rate 5.39%* 25 Years Annual Debt Service $115,189 The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal. An interested party should verify the status of the property and the information herein
Section 2 PROPERTY SUMMARY Size: Description of Improvements: Approximately 34,520 SF Both industrial warehouse buildings together contain approximately 34,520 square feet and were built in 1974. 253-257 Sutton Place is an approximate 17,000 square foot building including 1,000 square feet of office space. 285 Sutton Place is an approximate 17,520 square foot industrial building including 1,820 square feet of office space. There are on-site asphalt-paved parking spaces including dock high and grade level truck loading. There is additional parking along the dock walls of each of the buildings. Site Description: Neighborhood Description: Site is one single parcel that contains approximately 2.57 acres or 111,949 square feet. Site is zoned M2 (Heavy Industrial) District, County of Sonoma. The subject property is in the southwestern portion of as defined by California Highway 12, extending East/West, and U.S. Highway 101, extending North/South. The parcel is outside the City Limits of, however, it is within the Urban Service District of and has public utilities provided by the City. Coverage: 30.8% The parcel is situated at the northeast corner of Standish Avenue and Sutton Place, North of Todd Road, South of West Robles Rod and East of Primrose Avenue. It is within that area generally known as Industry West, an industrial park containing approximately 30 industrial buildings of various sizes, mostly of metal construction. The subject parcel is situated just South of Oak Manor Industrial Park, which also contains approximately 30 buildings of various size and construction. The parcels are situated Southwest of the Corby Auto Mall, which is s primary automobile sales market area. Uses in Industry West include the West County Transportation Agency, which operates and maintains school buses and North Bay Corporation, which operates the largest waste management company in the county. The majority of uses within Industry West are light industrial and warehousing. Power: Telecom: Assessments: Natural gas and electricity provided by PG&E Telephone services provided by AT&T None The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal. An interested party should verify the status of the property and the information herein
Section 3 ESTIMATED ANNUAL INCOME/EXPENSE SUMMARY Annual Scheduled Income $240,072 Reimbursement Taxes & Insurance: $11,872 Adjusted Gross $251,944 Less Annual Expenses Property Taxes (2009) $34,206 Insurance (2009) $3,050 Management (3%) $7,202 Utilities Tenant Repairs & Maintenance (2%) $4,802 Landscaping Tenant Reserves (1%) $2,400 Total Annual Expenses $51,660 Annual Net Operating Income $200,284 Capitalization Rate 7.5% The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal. An interested party should verify the status of the property and the information herein
Section 3 Building 1-253-257 Sutton Place RENT ROLL Unit Tenant Use Total SF Area Office Monthly Rent Rent/SF Term/Exp. Rent Adjustment Options 253 Ace Marine Boat Repair, Restoration 6,000 sf $3,300 N $0.55 1 yr. 10/31/10 255-257 Bimbo Bakeries Food 11,000 sf 1,000 $5,500 Net 3 $0.50 3 yrs. Distribution 3/31/13 Estimated Reimbursement Taxes & Ins: $989.33/month 4/1/11: $5,665 4/1/12: $5,834.95 Building 2 285 Sutton Place 285A SOH Dist. Distribution Food/Supplies 12,772 300 $7,408 N $0.58 3 yrs. 12/31/12 1/1/11: $7,630 1/1/12: $7,859 Dreyer s Grand Ice Cream Distribution/ Freezing Food Supplies 4,748 1,520 $3,798 N $0.60 3 yrs. 12/31/12 1/1/11: $3,912 1/1/12: $4,029 TOTALS 34,520 sf $20,006 (Rent Per Annum) 34,520 sf $240,072 Reimbursement Taxes & Insurance: $11,872 Total Adjusted Gross Income: $251,944 The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal. An interested party should verify the status of the property and the information herein
Section 4 AERIAL, SITE PLAN and VICINITY MAP The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal. An interested party should verify the status of the property and the information herein
Site Plan Subject Parcel
Section 5 SALES COMPARABLES Location 1 3395 Mc Maude Place Recording Date Sale Price RSF Price / Sq. Ft. 8/6/2009 $900,000 7,140 $126.05 Site Area Yr. Built Quality/ Condition CAP Rate 2 5801 Redwood Dr. Rohnert Park 12/31/2009 $1,450,000 20,000 $72.50 1.64 1975 3 412 Houser Street Cotati 8/7/2009 $1,864,800 23,592 $79.04 1.55 1998 Average 4 3224 Dutton Avenue 5 3565 Standish Avenue 6 374 Blodgett Street Cotati 7 2049 W. Steele Lane 8 225 Sutton Place 9 345 Sutton Place 10 600 E. Todd Road 5/19/2008 $2,650,000 15,000 $176.67 1.68 1998 Avg - Good 6.74% 1/4/2007 $5,050,000 36,660 $137.75 4.13 1977 Avg - Avg 5.50% $2,875,000 18,944 $152.12 1.2 2004 Avg - Good 5.43% 3/27/2008 $2,372,225 19,200 $123.55 2.3 1972 Average 3/25/2008 $1,875,000 15,384 $121.88 1974 Average 5/17/2008 $5,400,000 49,592 $108.89 1980 Average 6.25% 10/24/2008 $1,750.00 12,950 $135.14 1986 Average SUBJECT $2,670,000.00 34,520 $ 77.35 1974 Average 7.5% Proforma The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal.
Section 6 LEASE COMPARABLES Unit Location Tenant Total SF Rent PSF 1 3681 Laughlin Rd, Tastingroom, Inc. 9,133 0.64 Gross 2 237 Todd Road, Graybar Electric 13,220 $0.98 NNN 3 3440 Standish Ave. DCI Cheese Co. 8,210 $0.45 Gross 4 975 Corporate Center Amy's Kitchen 35,626 $0.47 NNN 5 256 Sutton Place, Young's Market 14,770 $0.785 NNN 6 256 Sutton Place, Billington Imports 24,000 $0.72 NNN 7 1812 Ferdinand Court, Russian River Brewing Co. 10,700 $0.87 8 2987 Wiljan Court, Northeast Imported Parts & Access 10,200 $0.83 9 975 Corporate Center Parkway, Suite 100-170, Amy's Kitchen 59,010 $1.05 OF, $0.67 Whse NNN 10 258 Sutton Place, Dal-Tile SSC West, Inc. 20,750 $0.85 NNN 11 600 Martin Avenue,Suite 101-140, Rohnert Park 12 1408 Corporate Center Parkway, Suite A, B & D, Arcturus UAV 15,333 $0.79 Meeker Vineyard 13,081 $0.81 13 237 Todd Road, Emser Tile LLC 8,920 $0.85 NNN The above information, while not guaranteed, has been secured from sources we believe to be reliable. This is not an offer to sell or lease and is subject to change or withdrawal. An interested party should verify the status of the property and the information herein