Disclaimers & Disclosures - LoopNet...Davis Commercial Real Estate Services and Premier Property...
Transcript of Disclaimers & Disclosures - LoopNet...Davis Commercial Real Estate Services and Premier Property...
Mark DessyPremier Property SolutionsCA BRE #: 0106806875 Malga Cove Plaza, STE #!Palos Verdes Estates, CA 90274(310) [email protected]
Jeff DavisCA BRE # 00849001
Davis Commercial Real Estate Services401 Clovis Ave, STE 209
Clovis, CA 93612(539) 324-1818
C l o v i s , CA
D i s c l a i m e r s & D i s c l o s u r e s
W e b e l i e v e t h e i n f o r m a t i o n h e r e i n t o b e c o r r e c t . I t h a s b e e n o b t a i n e d
f r o m s o u r c e s w e d e e m r e l i a b l e b u t h a s n o t b e e n v e r i f i e d . B r o k e r a s s u m e s
n o l i a b i l i t y f o r a n y e r r o r s o r o m i s s i o n s . B r o k e r i s n o t a n e x p e r t a n d i s n o t
q u a l i f i e d t o a d v i s e o n l e g a l , t a x , i n s u r a n c e , A D A , c o n s t r u c t i o n , s o i l s ,
e n g i n e e r i n g , h a z a r d o u s w a s t e , c o d e v i o l a t i o n s , t i t l e , f i r e , s a f e t y o r o t h e r
m a t t e r s p e r t a i n i n g t o t h e p r o p e r t y t h a t w o u l d r e q u i r e s p e c i f i c s k i l l s ,
l i c e n s e s o r e x p e r t i s e . P r o s p e c t i v e b u y e r s a r e a d v i s e d t o c o n d u c t t h e i r
o w n i n v e s t i g a t i o n o f t h e p r o p e r t y a n d o b t a i n t h e s e r v i c e s o f t h e i r o w n
e x p e r t s i n t h o s e f i e l d s t o a s s i s t i n t h e i n v e s t i g a t i o n .
D i s c l o s u r e o f O w n e r A g e n t : A g e n t h o l d s a n i n t e r e s t i n t h e s u b j e c t
p r o p e r t y a n d i s a u t h o r i z e d t o l i s t a n d s e l l s a i d p r o p e r t y . T h i s s t a t e m e n t
i s a d i s c l o s u r e o f t h e c o n d i t i o n o f t h e f o r e g o i n g p r o p e r t y i n c o m p l i a n c e
w i t h t h e C a l i f o r n i a D e p a r t m e n t o f R e a l E s t a t e . I t i s o t h e r w i s e n o t a
w a r r a n t y o f a n y k i n d b y t h e s e l l e r ( s ) o r a n y a g e n t ( s ) r e p r e s e n t i n g a n y
p r i n c i p a l ( s ) i n t h i s t r a n s a c t i o n , a n d i t i s n o t a s u b s t i t u t e f o r a n y
i n s p e c t i o n s o r w a r r a n t i e s t h e p r i n c i p a l ( s ) m a y w i s h t o o b t a i n .
±24,372 Sq Ft. Multi Tenant Industrial Flex Property
C l o v i s , CA
100% Occupied
Below Replacement Cost at $92/Ft
P r o p e r t y S u m m a r y
Davis Commercial Real Estate Services and Premier Property Solutions have been exclusively
retained to sell the 100% fee simple interest in 1030 Gettysburg Ave, the ±24,372 sq ft multi-
tenant industrial flex building located in Clovis, CA (Fresno County). The single story building
was built in 1987 and features reinforced concrete construction with up to 16 feet of interior
ceiling height.
The Property is located 3 miles east of The Sierra Freeway (CA 168) as well as California State
University Fresno. Just 2 miles southwest of the property lies Fresno Yosemite International
Airport Daytime population remains strong, with a 3 and 5-mile radius surrounding the
property exceed 117,000 and 291,000 respectively. Off-street parking, individual office suite
entrances, and rear overhead doors provide the necessary amenities for small businesses,
R&D, community organizations, and more.
At below replacement cost and the ability to renew and convert tenant leases to net formats,
1030 Gettysburg Ave is a unique value add opportunity to acquire a flex asset in a robust,
high barrier to entry Northern California light industrial submarket.
C l o v i s , CA
Ranked among some of the best places to live in Northern California.
Less than 3 miles to CSUF, CA-168, and Fresno Yosemite Int. Airport
Clovis Unified School District Ranked Among Best in State by US News
Robust Daytime Demos in a 3 and 5-mile radius surrounding the property exceed 117,000 and 291,000
respectively
Value-Add Opportunity via lease up and conversion of leases from gross to net format
Short Term Leases to provide additional short-term opportunity to renew tenants closer to market rents
Priced at $92/ft — well below replacement cost
Favorable layout allowing for demising and conjoining spaces as needed by tenants
C l o v i s , CA
H i g h l i g h t s
C l o v i s , CA
F l o o r P l a n
1 mile 3 miles 5 milesPopulation Summary2010 Total Population 15,365 100,654 275,8062018 Total Population 15,679 113,539 301,9032023 Total Population 16,088 120,711 317,017
2018-2023 Annual Rate 0.52% 1.23% 0.98%2018 Total Daytime Population 16,859 117,795 291,136
Workers 7,794 54,661 116,396Residents 9,065 63,134 174,740
Household Summary2010 Households 5,232 34,983 91,082
2010 Average Household Size 2.93 2.84 2.992018 Households 5,315 38,753 98,610
2018 Average Household Size 2.95 2.89 3.022023 Households 5,439 40,921 103,159
2023 Average Household Size 2.95 2.91 3.042018-2023 Annual Rate 0.46% 1.09% 0.91%
Median Household Income
2018 $52,499 $57,935 $54,4692023 $57,507 $66,571 $62,528Households by Income
2018 Average Household Income $66,312 $76,792 $77,1292018 Employed Population 16+ by OccupationWhite Collar 53.8% 62.7% 58.1%Blue Collar 23.0% 18.2% 21.0%
2018 Consumer SpendingApparel & Services: Total $ $9,274,648 $79,451,246 $204,547,953Education: Total $ $5,917,846 $51,955,833 $134,149,424Entertainment/Recreation: Total $ $13,588,835 $113,748,069 $289,128,269Food at Home: Total $ $21,496,299 $179,444,417 $460,129,000Food Away from Home: Total $ $15,088,136 $128,185,204 $327,784,147Health Care: Total $ $24,255,741 $197,322,670 $497,858,769HH Furnishings & Equipment: Total $ $8,926,395 $74,942,780 $190,863,780Personal Care Products & Services: Total $ $3,549,231 $29,950,003 $76,163,990Shelter: Total $ $71,464,536 $607,695,868 $1,571,971,946Support Payments/Cash Contributions/Gifts in Kind: Total $ $10,280,749 $85,704,469 $217,320,749
Travel: Total $ $8,963,088 $76,403,015 $195,177,819Vehicle Maintenance & Repairs: Total $ $4,623,929 $38,366,169 $97,754,905
C l o v i s , CA
D e m o g r a p h i c s
C l o v i s , CA
L o c a t i o n
C l o v i s , CA
F i n a n c i a l s
Suite Tenant Lease Start
Lease Expiration
RSF RSF (%) Start Date
End Date
Rent PSF
Monthly Rent
Annual Rent
Change in Rent (%)
Est. Reimb.
Lease Type
100-A,B,G,H,I Foundation Baptist Church
1/1/18 12/31/23 8,000 32.82% 1/1/19 12/31/19 $10.13 $6,750 $81,000 --- $25,050 Gross
1/1/20 12/31/20 $10.40 $6,930 $83,160 2.67%
1/1/21 12/31/21 $10.80 $7,200 $86,400 3.90%
1/1/22 12/31/22 $11.07 $7,380 $88,560 2.50%
1/1/23 12/31/23 $11.34 $7,560 $90,720 2.44%
101, 102Clovis Fellowship MTM 6/30/17 3,448 14.15% 11/1/18 6/30/17 $8.87 $2,549 $30,585 --- Gross
103 Houle Fitness 6/1/15 1,876 7.70% 10/1/18 9/30/19 $7.36 $1,150 $13,800 --- Gross
10/1/19 9/30/20 $4.09 $1,175 $14,100 2.17%
104 Amp Trucking 4/1/11 7/31/19 1,692 6.94% 4/1/11 7/31/19 $5.32 $750 $9,000 --- $338 Net
105 Foundry 11/1/08 3/31/20 1,720 7.06% 11/1/18 3/31/20 $8.40 $1,204 $14,448 --- Gross
106 Eddie Arakelian 11/1/13 2/28/19 1,839 7.55% 11/1/13 2/28/19 $6.12 $938 $11,255 --- Gross
C l o v i s , CA
R e n t R o l l
Suite Tenant Lease Start
Lease Expiration RSF RSF (%) Start
DateEnd Date
Rent PSF
Monthly Rent
Annual Rent
Change In Rent (%)
Est. Reimb.
Lease Type
107, 108Central Valley Energy 11/1/13 2/28/29 3,786 15.53% 11/1/13 2/28/19 $7.78 $2,454 $29,448 --- Net
100-D,F,L,E,J KG Communications 6/1/17 M-T-M 1,743 7.15% 6/1/17 M-T-M $12.32 $1,790 $21,481 --- Gross
100-K Nita Yale 6/1/17 M-T-M 168 0.69% 6/1/17 M-T-M $10.71 $150 $1,800 --- Gross
100-N Jubilee Counseling 6/1/17 M-T-M 100 0.41% 6/1/17 M-T-M $30.00 $250 $3,000 --- Gross
Vacant 0 0.00%
Occupied 24,372 100.00%
Base Rent $215,817
Forward Twelve: June 2019-May 2020 $1,100
Totals 24,372 100.00% $8.90 $18,076 $216,917 $25,388
C l o v i s , CA
R e n t R o l l
Expenses PSF/Month PSF/Annum Per Annum
Management Fee 4.00% $0.03 $0.40 $9,628
Real Estate Taxes $0.06 $0.67 $16,250
CAM -R&M $0.04 $0.49 $12,000
Insurance $0.01 $0.15 $3,600
Cleaning $0.01 $0.15 $3,600
Security Service $0.00 $0.05 $1,200
Landscaping $0.02 $0.20 $4,800
Garbage & Recycling $0.00 $0.03 $819
Electricity $0.10 $1.23 $30,000
Water $0.02 $0.27 $6,600
Total OpEx $0.30 $3.63 $88,497
NOI $0.52 $6.25 $152,212
C l o v i s , CA
E x p e n s e S u m m a r y
Price $2,255,000 Loan Type Proposed New
RSF ±24,372 Principal $1,465,750
CAP 6.75% LTV 65%
Year Built 1987 Interest Rate 4.85%
Price PSF $92.52Amortization 25
Equity $789,250
Income
Base Rent $216,917 Debt Service $101,292
Total Reimbursements $36,461 Cashflow after Debt Service $50,919
Gross Income $253,378 Cash on Cash Return 6.45%
Vacancy Factor 5.00% ($12,669) DSCR 1.50x
Effective Gross Income $240,709
Operating Expenses $88,497
Net Operating Income $152,212
C l o v i s , CA
F i n a n c i a l S u m m a r y
Mark DessyPremier Property SolutionsCA BRE #: 0106806875 Malga Cove Plaza, STE #!Palos Verdes Estates, CA 90274(310) [email protected]
Jeff DavisCA BRE # 00849001
Davis Commercial Real Estate Services401 Clovis Ave, STE 209
Clovis, CA 93612(539) 324-1818