Post on 15-Aug-2020
FOR SALE: 100% LEASED RETAIL INVESTMENT453-459 Broadway, Chula Vista, CA 91910
TRACY CLARKSenior Vice President/Partner
KIMBERLY CLARK, ESQ.Vice President
453-459B R O A D W A Y
CHULA VISTA , CA 91910
This site is an excellent location for convenience retailers
or office users who require high exposure and excellent
visibility. The site is located on Chula Vista’s busiest
commercial thoroughfare directly across the street from Pep
Boys and one block from the Chula Vista Mall. It is located
on the Southeast Corner of Broadway & Roosevelt Street.
ADDRESS: 453-459 Broadway, Chula Vista, CA 91910
BUILDING SIZE: ±8,388 SF
APN: 567-231-01
LOT SIZE: ±15,002 SF / 0.34 Acres
PARKING: 11 free surface spaces (1.31/1,000 SF)
PaydayLoans
Jewelry& Pawn
Alle
y
Roo
seve
lt St
reet
Broadway
Not To ScaleProperty Line
Pole Sign
Wire
less
Ret
ails
Smoke Shop
Hair Supply Store
PROPERTY OVERVIEW
SALE PRICE: $2,200,000 | CAP RATE: 6.05%
PROPERTY DETAILS
453-459B R O A D W AY
ANNUAL INCOME
Scheduled Gross Income $156,981
CAM Reimbursements $16,656
Increased Real Estate Tax Reimbursement (45.72%) $2,834
GROSS INCOME $176,471
ACTUAL 2019 OPERATING EXPENSES
Building Maintenance & Repairs $1,669
Utilities (Water, Sewer, SDG&E) $$2,797
Contract Services (Day Porter & Roof) $3,725
Management Fees $5,780
Insurance $4,825
Property Taxes (Estimated New Taxes) $24,640
TOTAL OPERATING EXPENSES $43,436
NET OPERATING INCOME $133,035 BROADWAY
INCOME AND EXPENSES
PRICE: $2,200,000 | CAP RATE: 6.05%
453-459B R O A D W AY
SUITE TENANT RSFMONTHLY
BASE RENT
NNN EXPENSES
BASE MONTHLY RENT PSF
TOTAL RENT
LEASE START DATE
LEASE END DATE
% OF TOTAL
CPI ANNUAL OPTIONS
453MCA Sales(Jewelry)
1,350 $2,542.00 $500.00 $1.88 $3,042.00 07/01/09 12/31/24 16.46% 2.5%1 x 5 Years with 2.5% Increases
455 Metro PCS 1,000 $1,500.00 $370.00 $1.50 $1,870.00 10/01/13 09/30/24 12.2% 2% None
457Hair Supply Store
3,000 $4,400.00 $0.00 $1.47 $4,400.00 05/01/20 6/30/23 36.6% 3%1 x 2 Years At Market
459 AEuphoria Vapor
1,450 $2,240.00 $0.00 $1.54 $2,240.00 06/01/15 05/31/21 17.68% 3% None
459 B Checkmate 1,400 $2,399.75 $518.00 $1.71 $2,917.75 12/01/14 11/30/22 17.07%Actual
CPI
1 x 5 Years with CPI
Increases
Totals 8,200 $13,081.75 $1,388.00 $14,469.75
RENT ROLL
453-459B R O A D W AY
TRACY CHARLES CLARKSenior Vice President/Partner858.458.3339 | tclark@voitco.comLic. #00641800
KIMBERLY CHANELLE CLARK, ESQ.Vice President858.458.3343 | kclark@voitco.comLic. #01439305
4180 La Jolla Village Drive, Suite 100, La Jolla, CA 92037 • 858.453.0505 • 858.408.3976 Fax • Lic #01991785 | www.voitco.com
Licensed as a Real Estate Broker and Salesperson by the DRE. ©2020 Voit Real Estate Services, Inc. The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its accuracy, we do not guarantee it.
Otay Valley Regional Park
Montgomery High School
DEMOGRAPHICSPopulation 1 Mile 3 Mile 5 Mile2019 Total Population: 43,878 150,035 413,909
2024 Population: 47,206 155,315 424,001
Pop Growth 2019-2024: 7.58% 3.52% 2.44%
Average Age: 36.50 36.90 36.20
Households2019 Total Households: 15,385 49,185 120,924
HH Growth 2019-2024: 7.38% 3.71% 2.58%
Median Household Inc: $45,459 $47,880 $56,215
Avg Household Size: 2.80 3.00 3.30
2019 Avg HH Vehicles: 2.00 2.00 2.00
HousingMedian Home Value: $409,164 $413,474 $404,364
Median Year Built: 1976 1970 1973
TRAFFIC COUNTSCollection Street
Cross Street Traffic Volume
Broadway Vance St 21,638
H St Smith Ave 24,109
G St Broadway 4,623
Broadway I St 23,025
H St Woodlawn Ave 31,326
Broadway Park Way 20,530
Woodlawn Ave G St 2,093