OFFERING MEMORANDUM INDUstRIAl PROPERtY ... - lee-mktg.info · 1136-1150 S Vail Avenue is a ±...
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OFFERING MEMORANDUM For more information, please contact: Jeffrey S. Hubbard Senior Vice President 323-864-5555 [email protected] DRE License # 00982290 Craig Phillips Senior Vice President 323-767-2024 [email protected] DRE License # 00574819 INDUSTRIAL PROPERTY 1136-1150 S Vail Avenue Montebello, CA FOR SALE INVESTMENT SERVICES GROUP
Transcript of OFFERING MEMORANDUM INDUstRIAl PROPERtY ... - lee-mktg.info · 1136-1150 S Vail Avenue is a ±...
OFFERING MEMORANDUM
For more information, please contact:
Jeffrey S. HubbardSenior Vice President
DRE License # 00982290
Craig PhillipsSenior Vice President
[email protected] License # 00574819
INDUstRIAl PROPERtY1136-1150 s Vail Avenue
Montebello, CAFOR sAlE
INVESTMENT SERVICES GROUP
1136-1150 S Vail Avenue - Montebello, CA
2No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Table of Contents
SECTION I - EXECUTIVE OVERVIEW
Executive Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Property Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
SECTION II - PROPERTY DESCRIPTION
Property Photos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Site Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Plat Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Aerial View . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
SECTION III - FINANCIAL ANALYSIS
Income & Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Rent Roll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
SECTION IV - AREA DESCRIPTION
Area Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Location Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
1136-1150 S Vail Avenue - Montebello, CA
3No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Section i
executive overview
1136-1150 S Vail Avenue - Montebello, CA
4No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
THE PROPERTY: Industrial Building 1136-1150 S Vail Avenue Montebello, CA 90640
LIST PRICE: $ 6,500,000 ($ 130/sq. ft.)
CURRENT CURRENT OCCUPANCY: 100 %
CURRENT GROSS INCOME: $ 473,856
CURRENT CAP RATE: 5.9 %
ESTIMATED EXPENSES: $ 88,538
PROPERTY OVERVIEWYEAR COMPLETED: 1967
BUILDING SIZE: ± 50,000 net rentable square feet
LAND AREA: ± 97,475 square feet (± 2.24 acres)
PARKING: 92 parking spaces (1.84 per 1,000 sf)
ZONING: M1
TRAFFIC COUNTS: 7,373 ADT at S Vail Ave (c. Date St) 34,395 ADT at E Washington Blvd (c. S Maple Ave)
DEMOGRAPHICS: 1-mile 3-miles 5-milesPOPULATION (2013): 13,040 237,944 676,693 AVG. HH INC. (2013): $54,825 $59,989 $60,932
CURRENT TENANTS: 1136 S Vail Ave - Iron Global, Inc. 1140 S Vail Ave - RNG Fasteners, Inc. 1146 S Vail Ave - Koikoi Trading, Inc. 1150 S Vail Ave - Khee Trading, Inc.
Executive Summary
1136-1150 S Vail Avenue - Montebello, CA
5No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Property Overview
Property Attributes
• ±50,000 SF Industrial Building• Two Fenced Yards• 4 Dock High Industrial Units• Near Santa Ana (5) Freeway• Corner Lot• Nearby Citadel Shopping Outlet and
the Commerce Casino
1136-1150 S Vail Avenue is a ± 50,000 SF industrial building located in Montebello, CA. The subject property is a single-story building on 97,475 SF of land. There are four (4) individual units: two 10,000 SF and two 15,000 SF. Easily access the property through 2 ingress/egress points on Vail Avenue and Date Street. Subject property offers surface parking for tenants and visitors. Thepropertyoffers immediateaccesstotheSantaAna(5)Freeway(RightoffGarfieldAvenueexit)withinminutesofthesubject property. Subject property is also ideally located adjacent to Citadel Shopping Outlet and the Commerce Casino.
1136-1150 S Vail Avenue - Montebello, CA
6No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Section ii
ProPerty DeScriPtion
1136-1150 S Vail Avenue - Montebello, CA
7No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Property Photos
1136-1150 S Vail Avenue - Montebello, CA
8No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Site Plan
N
1136 S. Vail Ave.10,000 S.F.
1140 S. Vail Ave.10,000 S.F.
1146 S. Vail Ave.15,000 S.F.
1150 S. Vail Ave.15,000 S.F.
143’
G.L.Door
G.L.Door
D.H.Door
D.H.Door
D.H.Door
R A M P
304’
70’
84’
177’
D.H.Door
FENCEDYARDAREA
PARKING
PARKING
DATE STREET
VAIL
AV
ENU
E
D.H.Door
(2)D.H.
Doors
Gage Ave
Telegraph RdGar�e
ld A
ve
Para
mou
nt B
lvd
Slauson Ave Gr
eenw
ood
Ave
Vail
Ave
Map
le A
ve
Washington Bl
SANTA ANA FREEW
AY
Date St
1136-1150 South Vail Avenue, Montebello
The information contained herein is from sources we believe to be reliable but, we do not guarantee its accuracy. All measurements & dimensions are approximations and are not to scale. Clients are encouraged to verify their accuracy.
Jeffrey S. HubbardPrincipal
License ID #00982290
Craig PhillipsSenior Vice President
License ID #00574819
Contact Exclusive Agents:
323-720-8484 500 Citaldel Dr., Suite 140, Commerce CA. 90040
1136-1150 S Vail Avenue - Montebello, CA
9No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Plat Map
N
1136-1150 S Vail Avenue - Montebello, CA
10No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Aerial View
N
Subject PropertyMontebello, CA
C O M M E R C EC A s I N O
1136-1150 S Vail Avenue - Montebello, CA
11No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Section iii
Financial analySiS
1136-1150 S Vail Avenue - Montebello, CA
12No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Income and Expense
VALUATIONPrice: $6,500,000 Square Feet: 50,000
Price/SF: $130.00 Current Cap Rate: 5.93%
ANNUAL INCOME 2013Base Rent $473,856CAM Reimbursement (Less) Vacancy ($9,477) 2%
Effective Gross Revenue $464,379
ANNUAL EXPENSES PSF
RE Taxes & Ass. $68,661 1.37
Insurance $5,000 0.10
Repairs & Maint. $3,000 0.06
Landscaping $2,400 0.05
Total Expenses $79,061 1.58
UNLEVERAGED TOTALSNet Operating Income $385,318Cap Rate 5.9%
1136-1150 S Vail Avenue - Montebello, CA
13No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Rent Roll
Suite Tenant Name Rentable Sq. Ft. Total Rent/Mo Rent SF/Mo Annual Rent Lease Type Expire
1136 Iron Globe, Inc. 10,000 $5,500 $0.55 $66,000 Gross 5/31/18
1140 RNG Fasteners, Inc. 10,000 $5,300 $0.53 $63,600 Gross 5/31/16
1146 Koikoi Trading, Inc. 15,000 $11,000 $0.73 $132,000 Gross 3/31/17
1150 Khee Trading, Inc. 15,000 $15,000 $1.00 $180,000 Gross 5/31/17
Verizon Wireless $1,688 $20,256 Gross
TOTAL 50,000 $38,488 $461,856
1136-1150 S Vail Avenue - Montebello, CA
14No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
area DeScriPtion
Section iv
1136-1150 S Vail Avenue - Montebello, CA
15No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Area Map
POMONA FREEWAY
SANTA ANA FREEWAY
LONG BEACH FREEW
AY
MONTEBELLO
COMMERCE
EAST LA
E 3rd Street
Whittier Blvd
Goodr
ich
Blvd
Whittier Blvd
Mines Ave
N P
opla
r Ave
N M
onte
bello
Blv
d
N W
ilcox
Ave
Olympic Blvd
W Lincoln Ave
S Va
il Av
e
S G
reen
woo
d Av
e
Param
ount Blv
d
Rosem
ead B
lvd Pa
sson
s Blv
d
S Ea
ster
n A
ve
E Slauson Ave
Gage Ave
Acco St
W Beverly Blvd
E Beverly Blvd
Washington Blvd
Telegraph Rd
Washington Blvd
S Atlantic
Blvd
S A
tlan
tic
Blvd
S A
rizo
na A
ve
evA nretsaE SS
Dow
ney
Rd
S Fo
rd B
lvd
Bandini Blvd
Bandini Blvd
Gar
eld A
venu
e
5
60
710
5
N
SITE
C O M M E R C EC A s I N O
C I t A D E lO U t l E t
1136-1150 S Vail Avenue - Montebello, CA
16No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Location Overview
The City of Montebello is located eight miles east of downtown Los Angeles, at the southwestern part of the San Gabriel Valley, in Los Angeles County, California. The surrounding cities are Monterey Park, South San Gabriel, and Rosemead to the north, Commerce to the south, Pico Rivera to the east, and Los Angeles and East Los Angeles to the west. It is also sometimes considered part of the Gateway Cities, and the city is a member of the Gateway Cities Council of Governments. The Gateway Cities of Southern California are those located in southeastern Los Angeles County. The city is easily accessible to the Long Beach (710), San Gabriel River (605), Pomona (60) and Santa Ana (5) Freeways.
Location Attributes
• LocatedConvenientlyNearTheSantaAna(5)Freeway• LocatedNearTheIntersectionOfWashingtonBlvd&
GarfieldAvenue• EightMilesEastOfDowntownLosAngeles• ExcellentIngressAndEgress
Jeffrey S. HubbardSenior Vice President
DRE License # 00982290
Craig PhillipsSenior Vice President
DRE License # 00574819
Lee & Associates® – Los Angeles - CentralA Member of the Lee & Associates Group of Companies500 Citadel Drive., Suite 140, Commerce, CA 90040Office 323.720.8484 Fax 323.720.8474
