LIQUOR STORE & BUSINESS FOR SALE IN INGLEWOOD · 2018-03-29 · Business included in the sale |...

LIQUOR STORE & BUSINESS FOR SALE IN INGLEWOOD1141 Myrtle Ave

Inglewood, CA 90301

Brett Lyon | 310.780.1899 [email protected]

1141 Myrtle Ave, Inglewood, CA90301

INVESTMENT SUMMARY

Investment Overview

Regional Map

AREA OVERVIEW

Local Map

City Overview

County Overview

Aerial Map

PROPERTY DESCRIPTION

Property Details

3D Map

FINANCIALS

Offering Summary

Net Income Statment

Tenant Profiles

Rent Roll

Lease Abstracts

Expense Recovery Reconciliations

COMPARABLES

Sales Comparable Map

Sales Comparables

Leasing Comparable Map

Leasing Comparables

EXCLUSIVELY MARKETED BY :

Lyon Stahl Investment Real Estate

Woody Stahl

3107103829

[email protected]

Lic. 01399621

Brett Lyon

3107801899

[email protected]

Lic. 01717818

1141 Myrtle Ave, Inglewood, CA 90301

Investment Summary

1141 Myrtle AveInglewood, CA 90301

The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.

$950,000

Investment SummaryPriceOccupancyBuilding SizePrice per Square FootLand AreaOwnership

100.00%1,536 SF$618.49

3,052 SF Fee Simple

Investment Highlights

1,536 SF retail building | 3,052 SF lot●

Business included in the sale | Over $41,000 gross monthly●

Beer & wine license (Type 20) is transferable●

Recently renovated | New electrical, plumbing, ceiling, walk-in fridge, &●

bulletproof counterPrime location in Inglewood | High traffic volume●

Located just minutes from multiple schools, The Forum, Hollywood Park●

Casino and the 405 FWY

Investment Description

Lyon | Stahl is pleased to present 1141 Myrtle Ave, a retail property located inInglewood. This 1,536 SF building is situated on a 3,052 SF lot & featuresadjacent alley parking, as well as plenty of street parking. Recently renovatedby a licensed contractor, the property includes new electrical, plumbing, &ceiling, as well as a 15-door walk-in refrigerator ($46K) and a bulletproofcounter ($15K). The business, which includes a restriction free beer & winelicense (type 20 liquor license) that is transferable, will also be included in thesale of the store, which is currently generating $41,530 gross monthly.Concurrently, given the properties prime location a few blocks from TheForum and soon-to-be Rams stadium, this is an incredible opportunity foranybody looking to get into, or expand, their liquor store business in therapidly appreciating Inglewood market.


Investment Summary



Interior Photos


Investment Summary



Additional Interior Photos


Investment Summary



Regional Map


Area Overview



Local Map


Area Overview



Area Overview

County OverviewThe most heavily populated county in the country is Los Angeles County withapproximately 9.9 million people, including about 1 million that live inunincorporated areas of the county. The metropolis - formed by the sixneighboring counties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 million residents. LosAngeles County is home to one of the most educated labor pools in thecountry and offers a labor force of more than 4.7 million, of which more than1.5 million are college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eight states.According to the United States Conference of Mayors, Los Angeles Countyboasts a GDP among the twenty largest in the world. Los Angeles County’scontinued economic growth, in contrast to other areas of the state and nation,is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast of the California,and covers 4,061 square miles, including the San Clemente and SantaCatalina islands. The County is comprised of approximately 88 vibrant anddiverse cities hosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has a Gross DomesticProduct (GDP) of approximately $446 billion - placing it among the top 20economies in the world. The combined GDP of Los Angeles and its fivesurrounding neighboring counties places it in the top 10. California is generallyconsidered to be in the top five.

If Los Angeles County were its own nation, its economy would be the 18th

largest in the world. It is home to more than 244,000 businesses, with moreminority and women owned businesses than any other in the nation and is thenation’s top international trade center and manufacturing center. Los Angelesis recognized worldwide as a leader in entertainment, health sciences,business services, aerospace and international trade. Because the LosAngeles area is so large and diverse, it has something to offer to everyone.While Hollywood and the Los Angeles beach culture are part of our collectiveimage of Los Angeles, the city also has more museums than any other cityand some of the best hotels in the world are located in Los Angeles.

Over the years, Los Angeles County has developed a diverse economic base,supported by a number of Fortune 500 companies with headquarters in thearea, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTVGroup, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel,and Avery Dennison. Key factors positively impacting the region’s economicposition include increased local media production by the entertainmentindustry and a continuing expansion of import flows. Moreover, growth inaerospace, homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles' well educatedlabor pool, many universities, wonderful climate, and world class infrastructurewill enable Greater Los Angeles to continue to be a world leader in economicand cultural significance.County Highlights

Los Angeles County is the world’s 18th largest economy.●

Los Angeles part of the "Tech Coast" and is regarded as the of the main●

entrepreneurial regions of the world. It has approximately 200,000 smallbusinesses, which is twice as many small businesses as can be found in anyother region of the United States.If Los Angeles' five county area were a state, it would be the fourth largest in●

the United States.Los Angeles has more than 80 stage theaters and 300 museums, more than●

any other U.S city.


Area Overview



Aerial Map


Property Description



Property DetailsAddress 1141 Myrtle Ave

Inglewood, CA90301

Square Footage 1,536 SFLand Area 3,052 SFYear Built 1924Assessors Parcel Number 4024-036-022

SiteZoning INR3YYNumber of Buildings 1Number of Stories 1


Financials



Financial Summary


Comparables



Sales Comparable Map


Comparables



Sales Comparables

Photos Address Sale PriceSale Date

CAPNOI

Total SF$/SF Year Built Days on Market Land Area

Number of Spaces

1141 Myrtle AveInglewood, CA90301

$950,000N/A

--

1,536 SF$618

1924 N/A3,052 SF1

-

4808 W Century BlvdInglewood , CA90304

$420,00001/12/2018

--

1,148 SF$366

1950 -3,1131

10303 Hawthorne BlvdInglewood, CA90304

$395,000-

--

1,118 SF$353

1948 903,0491

10300 S Inglewood AveInglewood, California90304

$700,00010/13/2017

6.00 %-

1,350 SF$519

1924 918,6991

4732 W Lennox BlvdInglewood , California90304

$460,00006/22/2017

--

1,183 SF$389

1941 1463,8641

Photos Address Sale PriceSale Date

CAPNOI

Total SF$/SF Year Built Days on Market Land Area

Number of Spaces

Averages $493,750 6.00 %-

1,200 SF$407 - - 4,681 SF

1


Comparables



Leasing Comparable Map


Comparables



Leasing Comparables

Photos Address Date Surveyed Total SF Vacant SF Year Built Asking RentLease Type Occupancy

1141 Myrtle AveInglewood, CA90301

03/29/2018 1,536 SF - 1924 - 100.00% -

11132-11138 S Prairie AveInglewood , California90303

- - 3,121 SF 1921 $55.92 100%

10321 Hawthorne Blvd - Holly Park PlazaInglewood , California90304

- - 5,312 SF 1990$24.00NNN

100%

10418 S Prairie AveInglewood , California90303

03/27/2018 - 2,640 SF 2006 $23.92 -

10500 S Inglewood AveInglewood, California90304

03/27/2018 - 2,780 SF 1969 $21.00 100%


Comparables



Photos Address Date Surveyed Total SF Vacant SF Year Built Asking RentLease Type Occupancy

149 S Market StInglewood , California90301

03/27/2018 - 12,000 SF 1925 $22.56 -

Averages - - 5,171 SF - $29.48 100%

CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should notbe made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property (“Property”). The information in this Memorandumhas been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limitedto the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmentalrequirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence orabsence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant or any tenant’s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all- inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information andan opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, marketconditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough duediligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/or to terminate discussions at any time with or without notice.The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’sobligations therein have been satisfied or waived.

Exclusively Marketed By:

Lyon Stahl Investment Real Estate

Woody StahlBrett Lyon

31071038293107801899

[email protected]@LyonStahl.com

LIQUOR STORE & BUSINESS FOR SALE IN INGLEWOOD · 2018-03-29 · Business included in the sale |...

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Transcript of LIQUOR STORE & BUSINESS FOR SALE IN INGLEWOOD · 2018-03-29 · Business included in the sale |...