Post on 05-Oct-2020
Portfolio - Net Leased InvestmentVallejo, San Leandro & San Jose
BAY AREA ORAL SURGERY MANAGEMENT LLC
O F F E R I N G M E M O R A N D U M
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from and it should not be madeavailable to any other person or entity without the written consent of . By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to . This offeringmemorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subjectproperty. The information contained herein is not a substitute for a thorough due diligence investigation. has not made any investigation, and makes no warranty or representation with respect to theincome or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or businessprospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, has not verified, and will not verify, any of the information contained herein,nor has conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subjectproperty.
CONFIDENTIALITY AND DISCLAIMER
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.
Portfolio - Net Leased Investment | Investment Highlights 3
INVESTMENT OVERVIEW
Portfolio OverviewLocation Vallejo, San Leandro & San Jose
Sale Price $4,103,580
Number of Units 5
Number of Properties 5
Total Building SF 9484
Cap Rate 7.00 %
NOI $287,251
Occupancy (blended) 100.00 %
150 Admiral Callaghan Ln., Ste. A• Fully built-out condo for oral surgery tenant. Complete with lobby,
reception, X-Ray, 4 ops, 2 restrooms, recovery room, doctors office,managers office, extra office, laundry, lab and break room.
The subject dental condo is located within the Admiral Callaghan •Professional Center condominium project.
150 Admiral Callaghan Ln., Ste. B• Fully built-out general office for oral surgery tenant. Complete with
lobby/reception, conference room, two private offices, large work space,restroom and break room.
The subject dental condo is located within the Admiral Callaghan •Professional Center condominium project.
19 Rotary Way• Fully built-out condo for oral surgery tenant. Complete with lobby,
reception, X-Ray, 4 ops, 2 restroom, doctors office, lab and break room.
The subject dental condo is located within the Parkway Professional Suitescondominium project.
433 Estudillo Ave., Ste 306• Fully built-out condo for oral surgery tenant. Complete with lobby,
reception, X-Ray, 4 ops, doctors office, lab and break room. Restrooms arecommon, 2 located on each floor.
Located in the central business district of San Leandro. Just .3 mile (8minute walk) from BART and the new San Leandro Tech Campus – a new7.3-acre state-of-the-art technology development. The city has a dynamicbusiness environment and strong potential for further growth.
125 N. Jackson Ave., Ste 202• Fully built-out condo for oral surgery tenant. Complete with lobby,
reception, X-Ray, 4 ops, 1 restroom, doctors office, lab and break room.
The subject dental condo is located within the Jackson Medical Center,which is adjacent to San Jose Regional Medical Center andamong various other medical user.
Portfolio - Net Leased Investment | Portfolio Map 4
Property Name Type List Price AddressNet Leased Investment Office $1,111,286 150 Admiral Callaghan Ln., Ste. A, Vallejo, CA 94591Net Leased Investment Office $771,429 150 Admiral Callaghan Ln., Ste. B, Vallejo, CA 94591Net Leased Investment Office $872,143 19 Rotary Way, Vallejo, CA 94591Net Leased Investment Office $659,571 433 Estudillo Ave., Ste 306, San Leandro, CA 94577Net Leased Investment Office $689,151 125 N. Jackson Ave., Ste 202, San Jose, CA 95116
Net Leased Investment | Property Summary 5
Net Leased Investment
ADDRESS 150 Admiral Callaghan Ln., Ste. AVallejo CA 94591
UNIT SF 2,593 SF
LAND SF 2,659
OCCUPANCY 100.00 %
APN 0069 010 740
# OF PARCELS 1
ZONING TYPE Medical Building
Net Leased Investment | Rent Roll 6
Lease Term Rental Rates
Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes
A BAY AREA ORAL SURGERYMANAGEMENT LLC
2,593 100.00% 07/23/20 07/22/25 CURRENT $6,483 $2.50 $77,790 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.
Tenant has two (2) five (5) yearoptions
07/23/2021 $6,677 $2.58 $80,124 $30.96
07/23/2022 $6,877 $2.65 $82,527 $31.80
07/23/2023 $7,084 $2.73 $85,003 $32.76
07/23/2024 $7,296 $2.81 $87,553 $33.72
07/23/2025 $7,515 $2.90 $90,180 $34.80
Totals 2,593 $6,483 $77,790
Net Leased Investment | Income & Expense Analysis 7
INCOME CURRENT
Gross Potential Rent $77,790
Expense Reimbursement Revenue $8,464
Effective Gross Income $86,254
Less: Expenses $8,464
Net Operating Income $77,790
EXPENSES CURRENT
Real Estate Taxes $7,064
Insurance $1,400
Total Operating Expense $8,464
Expense / SF $3.26
% of EGI 9.81 %
REVENUE ALLOCATIONCURRENT
DISTRIBUTION OF EXPENSESCURRENT
Net Leased Investment | Property Summary 8
Net Leased Investment
ADDRESS 150 Admiral Callaghan Ln., Ste. BVallejo CA 94591
UNIT SF 1,800 SF
LAND SF 1,858
OCCUPANCY 100.00 %
APN 0069 010 730
# OF PARCELS 1
ZONING TYPE Medical Building
Net Leased Investment | Rent Roll 9
Lease Term Rental Rates
Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes
B BAY AREA ORAL SURGERYMANAGEMENT LLC
1,800 100.00% 07/23/20 07/22/25 CURRENT $4,500 $2.50 $54,000 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.
Tenant has two (2) five (5) yearoptions
07/23/2021 $4,635 $2.58 $55,620 $30.96
07/23/2022 $4,774 $2.65 $57,289 $31.80
07/23/2023 $4,917 $2.73 $59,007 $32.76
07/23/2024 $5,065 $2.81 $60,777 $33.72
07/23/2025 $5,217 $2.90 $62,601 $34.80
Totals 1,800 $4,500 $54,000
Net Leased Investment | Income & Expense Analysis 10
INCOME CURRENT
Gross Potential Rent $54,000
Expense Reimbursement Revenue $8,343
Effective Gross Income $62,343
Less: Expenses $8,343
Net Operating Income $54,000
EXPENSES CURRENT
Real Estate Taxes $6,943
Insurance $1,400
Total Operating Expense $8,343
Expense / SF $4.63
% of EGI 13.38 %
REVENUE ALLOCATIONCURRENT
DISTRIBUTION OF EXPENSESCURRENT
Net Leased Investment | Property Summary 11
Net Leased Investment
ADDRESS 19 Rotary WayVallejo CA 94591
UNIT SF 2,035 SF
YEAR BUILT 1989
OCCUPANCY 100.00 %
APN 0069-350-090
# OF PARCELS 1
ZONING TYPE Medical Building
Net Leased Investment | Rent Roll 12
Lease Term Rental Rates
Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes
19 BAY AREA ORAL SURGERYMANAGEMENT LLC
2,035 100.00% 07/23/20 07/22/25 CURRENT $5,088 $2.50 $61,050 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.
Tenant has two (2) five (5) yearoptions
07/23/2021 $5,240 $2.58 $62,882 $30.96
07/23/2022 $5,397 $2.65 $64,768 $31.80
07/23/2023 $5,559 $2.73 $66,711 $32.76
07/23/2024 $5,726 $2.81 $68,712 $33.72
07/23/2025 $5,898 $2.90 $70,774 $34.80
Totals 2,035 $5,088 $61,050
Net Leased Investment | Income & Expense Analysis 13
INCOME CURRENT
Gross Potential Rent $61,050
Expense Reimbursement Revenue $33,288
Effective Gross Income $94,338
Less: Expenses $33,288
Net Operating Income $61,050
EXPENSES CURRENT
Real Estate Taxes $6,247
Insurance $1,400
HOA $25,641
Total Operating Expense $33,288
Expense / SF $16.35
% of EGI 35.29 %
REVENUE ALLOCATIONCURRENT
DISTRIBUTION OF EXPENSESCURRENT
Net Leased Investment | Property Summary 14
Net Leased Investment
ADDRESS 433 Estudillo Ave., Ste 306San Leandro CA 94577
UNIT SF 1,109 SF
YEAR BUILT 1969
OCCUPANCY 100.00 %
APN 077-0539-080-00
# OF PARCELS 1
ZONING TYPE Office
Net Leased Investment | Rent Roll 15
Lease Term Rental Rates
Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes
306 BAY AREA ORAL SURGERYMANAGEMENT LLC
1,539 100.00% 07/23/20 07/22/25 CURRENT $3,848 $2.50 $46,170 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.
Tenant has two (2) five (5) yearoptions
07/23/2021 $3,963 $2.58 $47,555 $30.96
07/23/2022 $4,082 $2.65 $48,982 $31.80
07/23/2023 $4,204 $2.73 $50,451 $32.76
07/23/2024 $4,330 $2.81 $51,965 $33.72
07/23/2025 $4,460 $2.90 $53,524 $34.80
Totals 1,539 $3,848 $46,170
Net Leased Investment | Income & Expense Analysis 16
INCOME CURRENT
Gross Potential Rent $46,170
Expense Reimbursement Revenue $31,018
Effective Gross Income $77,188
Less: Expenses $31,018
Net Operating Income $46,170
EXPENSES CURRENT
Real Estate Taxes $6,618
Insurance $1,400
HOA $23,000
Total Operating Expense $31,018
Expense / SF $20.15
% of EGI 40.19 %
REVENUE ALLOCATIONCURRENT
DISTRIBUTION OF EXPENSESCURRENT
Net Leased Investment | Property Summary 17
Net Leased Investment
ADDRESS 125 N. Jackson Ave., Ste 202San Jose CA 95116
UNIT SF 1,325 SF
LAND SF 3,049
YEAR BUILT 1982
OCCUPANCY 100.00 %
APN 48106076
# OF PARCELS 1
ZONING TYPE Skyscraper/Highrise (Commercial Offices)
Net Leased Investment | Rent Roll 18
Lease Term Rental Rates
Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes
202 BAY AREA ORAL SURGERYMANAGEMENT LLC
1,517 100.00% 07/23/20 07/22/25 CURRENT $4,020 $2.65 $48,241 $31.80 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.
Tenant has two (2) five (5) yearoptions
07/23/2021 $4,141 $2.73 $49,688 $32.76
07/23/2022 $4,265 $2.81 $51,178 $33.72
07/23/2023 $4,393 $2.90 $52,714 $34.80
07/23/2024 $4,525 $2.98 $54,295 $35.76
07/23/2025 $4,660 $3.07 $55,924 $36.84
Totals 1,517 $4,020 $48,241
Net Leased Investment | Income & Expense Analysis 19
INCOME CURRENT
Gross Potential Rent $48,246
Expense Reimbursement Revenue $19,886
Effective Gross Income $68,132
Less: Expenses $19,886
Net Operating Income $48,246
EXPENSES CURRENT
Real Estate Taxes $5,370
Insurance $1,400
HOA $13,116
Total Operating Expense $19,886
Expense / SF $13.10
% of EGI 29.19 %
REVENUE ALLOCATIONCURRENT
DISTRIBUTION OF EXPENSESCURRENT
Portfolio - Net Leased Investment | Income & Expenses 20
INCOME ACTUAL
Gross Potential Rent $287,251
Expense Reimbursement Revenue $100,999
GROSS POTENTIAL INCOME $388,250
EFFECTIVE GROSS INCOME $388,250
NET OPERATING INCOME $287,251
EXPENSES ACTUAL
Real Estate Taxes $32,242
Insurance $7,000
HOA $61,757
TOTAL OPERATING EXPENSE $100,999
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
Portfolio - Net Leased Investment
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Jason Winter916-677-9090Lic: 01736374Jwinter@racps.com
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