FOR SALE - LoopNet...bathroom selling Pokie and Boba Tea. Space is contemporary and well designed....

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3515 20TH STREET$3,680,000

3515 20th StreeeSan Francisco, CA 94110

AVAILABLE SPACE5,875 SF

FEATURES• Solid 4 cap Mixed-Use Investment in Superb Valencia Corridor Location!

• Quality commercial tenant stable cash flow with good rental income upside

• Great location with heavy foot traffic and affluent tech consumer

• Tenant pays all utilities, garbage, water, and sewer expense

• Ideal investment for your 1031 exchange buyer and also long term investor

AREAPrime Valencia Neighborhood Commercial Corridor with a vibrant nightlife and avant-garde restaurant.

OFFICE

Eric M. K. [email protected] #01163073

©2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial NRT. All rights reserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial areregistered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principlesof the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. The information provided is deemed reliable, but it is notguaranteed to be accurate or complete, and it should not be relied upon as such. This information should be independently verified before any person enters into atransaction based upon it.

COLDWELL BANKER COMMERCIALNRT2633 Ocean Ave, San Francisco, CA 94132415.334.1880

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Eric M. K. [email protected] #01163073 NRT

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3515 20TH STREET

CONFIDENTIALITY AGREEMENT

This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes toproceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it hasnot been independently verified by the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under thecircumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contentsherein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONSOR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonableopportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’schoosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offerwithout regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter ofintent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii)approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bounduntil execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the soleagreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional orotherwise, incurred by them.

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Why CBC - Page 1

Why CBC - Page 2

06 PROPERTY INFORMATION

Property Overview

Property Description

Complete Highlights

Additional Photos

11 LOCATION INFORMATION

Regional Map

Location Maps

Aerial Maps

Site Plan

16 FINANCIAL ANALYSIS

3515_20th_St_spreadsheet.pdf

Financial Summary

Rent Roll

20 DEMOGRAPHICS

Demographics Map & Report

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WHY COLDWELL BANKER COMMERCIAL

Owner. Occupier. Investor. Local business or global corporation. ?No matter who you are, the challenges remain the same.

The success of the CBC organization lies in its striking versatility. The organization deftly combines a powerful national presence with the agility of a regional market innovator.Each CBC affiliate office has the resources and insight to understand its local market and the expertise to convert this knowledge into tangible value for each client. The CBCorganization’s skillful professionals and nimble affiliate offices service a wealth of business categories in markets of any size, with clients ranging from established corporations tosmall businesses to individual investors.

Acquisition and Disposition Market Research & Analysis

Capital Services & Investment Analysis Property & Facilities Management

Construction Management Startups & Small Business

Corporate Services Tenant Representation

Distressed Assets Landlord Representation

Relocation Services

180Companies

Presence in

40+Countries

Nearly

3,000Professionals

7,081YE Sales Transactions

$6.0 BillionSales Volume

7,187YE Lease Transactions

$3.2 BillionLease Volume

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WHY COLDWELL BANKER COMMERCIAL NRT

CAPTURING UNREALIZED VALUE

Often property owners are not aware of the many intrinsic values their asset may hold. We have an intimate understanding of the market and its trends. We know what thecurrent demand is and what the market seeks.

DIRECT CONTACT WITH MARKET PLAYERS

Our ability to access active market players is key, and the market is constantly shifting. We have a built a long list of direct contacts and strong relationships from years ofmarketing and ongoing involvement in the market.

VALUATING & MARKETING YOUR PROPERTY

We feel that it is critical to work closely with our clients to formulate a specific marketing plan for each transaction, one that the market would respond to. We have accessto a marketing and technology platform that was built for the successful marketing of your property.

CONNECTED TO A GLOBAL BRAND

CBC has one of the largest domestic footprint in commercial real estate with almost 180 offices in primary, secondary and international markets and nearly 3,000professionals worldwide.

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PROPERTYINFORMATIONSECTION 1

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OFFERING SUMMARY

Sale Price: $3,680,000

Lot Size: 0.07 Acres

Year Built: 1900

Building Size: 5,875 SF

Renovated: 2013

Zoning: NC - 3

Market: San Francisco

Submarket: Inner Mission

Price / SF: $626.38

3515 20th Street is an ideal investment consists of a 4 unit mixed-use property located in the Valencia Corridor Core Area withgreat current return yet with upside potential! The building is situated on 20th in the vibrant section of Mission and ValenciaStreet. The area is a trend-setting, multicultural, and popular with the millennials. There is an abundance of upscalerestaurants, ethnic cuisine, dive bars, experimental microbrewery, glitzy wine bar, and trendy fashion shops. It consists of 2spacious residential flats over two contemporary and nicely renovated restaurant space. All units are rented and provide greatcurrent income for an investor with little expenses. The tenants paid for all utilities, water, and garbage. The owner is onlyresponsible for property tax, insurance, and general expense.3517 20th Street, the top floor flat, is a renovated 4 bed 3 bath unit of which two of the bedrooms have ensuite baths. There isengineered hardwood throughout, contemporary gourmet kitchen, central heating and new wood windows fronting 20thStreet. There is new downlights, high ceiling, and modern light fixtures.3519 20th Street, the middle flat, is 7 rooms 1 bath that is in original but decent condition. There are carpets and linoleumfloor throughout.3515 A, the Little Kite Restaurant on the ground level, is a spacious Asian Fusion Restaurant with a full kitchen updated withvent hoods, walk-in freezer, and additional storage rooms in the back. Space is clean and has a functional and clean layout.3515 B, the Pokie Time next to the Little Kite, is a small to go eatery with an ADA bathroom selling Pokie and Boba Tea. Spaceis contemporary and well designed.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Solid 4 cap Mixed-Use Investment in Superb Valencia Corridor Location!





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PROPERTY DESCRIPTION

3515 20th Street is an ideal investment consists of a 4 unit mixed-use property located inthe Valencia Corridor Core Area with great current return yet with upside potential! Thebuilding is situated on 20th in the vibrant section of Mission and Valencia Street. Thearea is a trend-setting, multicultural, and popular with the millennials. There is anabundance of upscale restaurants, ethnic cuisine, dive bars, experimental microbrewery,glitzy wine bar, and trendy fashion shops. It consists of 2 spacious residential flats overtwo contemporary and nicely renovated restaurant space. All units are rented andprovide great current income for an investor with little expenses. The tenants paid for allutilities, water, and garbage. The owner is only responsible for property tax, insurance,and general expense.3517 20th Street, the top floor flat, is a renovated 4 bed 3 bath unit of which two of thebedrooms have ensuite baths. There is engineered hardwood throughout,contemporary gourmet kitchen, central heating and new wood windows fronting 20thStreet. There is new downlights, high ceiling, and modern light fixtures.3519 20th Street, the middle flat, is 7 rooms 1 bath that is in original but decentcondition. There are carpets and linoleum floor throughout.3515 A, the Little Kite Restaurant on the ground level, is a spacious Asian FusionRestaurant with a full kitchen updated with vent hoods, walk-in freezer, and additionalstorage rooms in the back. Space is clean and has a functional and clean layout.3515 B, the Pokie Time next to the Little Kite, is a small to go eatery with an ADAbathroom selling Pokie and Boba Tea. Space is contemporary and well designed.

LOCATION DESCRIPTION

Prime Valencia Neighborhood Commercial Corridor with a vibrant nightlife andavant-garde restaurant.

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LOCATION INFORMATION

Building Name 3515 20th Street

Street Address 3515 20th Streee

City, State, Zip San Francisco, CA 94110

County San Francisco

Market San Francisco

Sub-market Inner Mission

Cross-Streets Valencia

Signal Intersection No

BUILDING INFORMATION

Occupancy % 100.0%

Tenancy Multiple

Ceiling Height 10 ft

Minimum Ceiling Height 9 ft

Number Of Floors 3

Average Floor Size 1,800 SF

Year Built 1900

Year Last Renovated 2013

Free Standing No

PROPERTY HIGHLIGHTS

• Solid 4 cap Mixed-Use Investment in Superb Valencia Corridor Location!





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LOCATIONINFORMATIONSECTION 2

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FINANCIAL ANALYSISSECTION 3

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3515 - 17 20th Street San Francisco, California

Summary Rent RollPrice $3,680,000 Proj. Rent/mDown Payment 45% $1,656,000 Unit Unit Mix Size (sq.ft.) Rent/SF Low Rent/SF High

4th Floor Resd 4 Bed 3 Bath 1,650 $4.34 $7,160.00 $4.55 $7,500.00Low Projected Rent 3th Floor Resd 7 Rooms 1,650 $0.80 $1,320.00 $4.24 $7,000.00DCR 1.24 Little Kit Restaurant 1,900 $3.16 $6,000.00 $4.21 $8,000.00COC 1.76% Poke Time Restaurant 675 $3.70 $2,500.00 $4.44 $3,000.00GRM 18.06CAP 4.10%

High Projected RentDCR 2.08COC 7.94%GRM 12.03CAP 6.88%

Approximate Age 1900Approx. Lot Size (per tax record) 3,184 Total: 5,875 $3.00 $16,980.00 $4.36 $25,500.00Approx. Sq.Ft. (estimated) 5,875 (Average) (Average)Total no. of unit 4 NotePrice/Sq.Ft. $626Price/unit $920,000 1. Both Commercial and Residential Tenants paid own utilites and garbage

2. Both restaurants' lease can be further negotiated.3. Square footage is estimated

Scheduled Income Estimated Annualized Expenses (2015)Low Projected Rent High Projected Rent Property Tax @ 1.163% $42,798.40

Approx. Monthly Monthly Monthly Monthly Misc Expense(Reserve)@ 3% SGI $6,112.80Address Sq.Ft. Rent/sf Income Rent/sf Income Insurance $4,000.00

4th Floor Resd 4 Bed 3 Bath 1,650 $4.34 $7,160.00 $4.55 $7,500.003th Floor Resd 7 Rooms 1,650 $0.80 $1,320.00 $4.24 $7,000.00

Little Kit Restaurant 1,900 $3.16 $6,000.00 $4.21 $8,000.00Poke Time Restaurant 675 $3.70 $2,500.00 $4.44 $3,000.00

Approx Total 5,875Total Monthly Scheduled Rent $16,980 $25,500Annual Scheduled Gross Income $203,760 $306,000Other Income (Annual)Total Annual Scheduled Gross Income $203,760 $306,000 Total Estimated Annual Expenses $52,911.20

Annualized Operating Data Proposed FinancingCurrent Rent Projected Rent First Loan Amount $2,024,000

Scheduled Gross Income $203,760 18.06 $306,000 12.03 Loan to Value 55%Less Vacancy Rate Reserve $0 0.00% $0 0.00% Loan Rate 4.40%Gross Operating Income $203,760 $306,000 Term (Year) 30Less Expenses $52,911 25.97% $52,911 17.29% *5 year fixed, 30 year amortizatonNet Operating Income $150,849 4.10% $253,089 6.88% Loan Payment ($121,625)Less Loan Payments ($121,625) ($121,625)Pre-Tax Cash Flow $29,224 1.76% $131,464 7.94%Plus Principal Reduction $33,234 $33,234Total Return Before Taxes $62,458 3.77% $164,698 9.95%

Eric M. K. Chin [email protected] 415.378.4818 CalBRE# 01163073 I Jian Y. Lin [email protected] 415.815.8339 CalBRE #01991463

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates, not employees. ©2019 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair

Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.

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INVESTMENT OVERVIEW

Price $3,680,000

Price per SF $626.38

CAP Rate 4.10%

Cash-on-Cash Return (yr 1) 1.76%

Total Return Before Tax (yr 1) 3.76%

Debt Coverage Ratio 1.24

OPERATING DATA

Gross Scheduled Income $203,760

Other Income N/A

Total Scheduled Income $203,760

Vacancy Cost N/A

Gross Income $203,760

Operating Expenses %52,911

Less Loan Payment ($121,625)

Pre-Tax Cash Flow $29,224

FINANCING DATA

Down Payment (45%) $1,656,000

Loan Amount (55%) $2,024,000

Debt Service ($121,625)

Debt Service Monthly ($10,135)

Principal Reduction (yr 1) $33,234

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TENANT

NAME

UNIT

NUMBER

UNIT

SIZE (SF)

LEASE

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LEASE

END

ANNUAL

RENT

% OF

GLA

PRICE

PER SF/YR

Little Kit 1,900 1/1/2019 12/31/2023 $72,000 32.34 $37.89

Pokie Time 675 1/1/2019 12/31/2023 $30,000 11.49 $44.44

Middle Flat 1,650 m/m $15,840 28.09 $9.60

Top Flat 1,650 6/1/2019 5/31/2020 $85,920 28.09 $52.07

Totals/Averages 5,875 $203,760 $36.00

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DEMOGRAPHICSSECTION 4

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POPULATION 0.25 MILES 0.5 MILES 1 MILE

Total population 9,061 29,652 91,832

Median age 34.0 34.2 35.7

Median age (Male) 34.9 34.9 36.3

Median age (Female) 33.2 33.6 34.9

HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE

Total households 3,558 12,275 39,535

# of persons per HH 2.5 2.4 2.3

Average HH income $89,954 $97,593 $103,769

Average house value $907,357 $892,785 $851,262

* Demographic data derived from 2010 US Census

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FOR SALE - LoopNet...bathroom selling Pokie and Boba Tea. Space is contemporary and well designed....

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Transcript of FOR SALE - LoopNet...bathroom selling Pokie and Boba Tea. Space is contemporary and well designed....