Offering Memorandum - LoopNet · 2019-09-23 · Hotel: Howard Johnson Marina at Monterey Bay - 39...
Transcript of Offering Memorandum - LoopNet · 2019-09-23 · Hotel: Howard Johnson Marina at Monterey Bay - 39...
Offering Memorandum
416 Reservation Rd. Marina, CA 93933
Peter Park
310.720.3053
DRE# 01972472
Hyun Jin Im
213.550.6273
DRE# 01989280
Property Information
Property Summary
416 Reservation Rd
Building Size 14,918 SF
Lot Size 1.1 AC
Year Built 2004
Parcel Number 032-152-046
UseHotel, Gas Station with
Convenience Store
Parking 46 Car Spaces
NOI in 2018 $830,000+
Hotel 39 Rooms (Howard Johnson by Wyndham Marina
at Monterey Bay)
Gas Station, Valero Marina Gas (3 Islands/6 Pumps/12
Fueling Positions)
Asking: $11,500,000
Property Information
Property Highlights
• Built in 2004 and maintained in excellent condition
• Excellent Accessibility of US1 and US101
• 14 miles away from World Famous Pebble Beach Golf Links
• Minutes away from Marina State Beach, Marina Municipal Airport & Marina Club
Casino
• In close proximity to restaurants and retail shopping area
Hotel: Howard Johnson Marina at Monterey Bay
- 39 Hotel rooms and 46 Car Spaces
- Stable increasing revenue and occupancy rate
- Awarded TripAdvisor Certificate of Excellence 4
Years in a row including 2019
- Smoke Free Hotel and Facilities
- Complimentary Wi-Fi Internet Access
- Complimentary Continental Breakfast
- Occupancy Rate in 2018: 74%
- ADR in 2018: $119.35
- Total Revenue in 2018: $1,167,749
Property Information (Cont’d)
Property Information (Cont’d)
Gas Station: Valero Marina Gas
- 3 Islands / 6 Pumps / 12 Fueling Positions
- Gas Sales of around 1,280,000 gallons in 2018
- Gross Income in 2018: $4,616,977
- Mar / 2019 Gas Sales 128,000 gallon
- 2019 Pro forma sales 1,500,000 gallon
Convenience Store
- Gross Income: 634,961 with 28% margin in 2018
- Lottery & Tobacco Rebate: $30,984 in 2018
Photos
Photos (Cont’d)
Photos (Cont’d)
Location Information
Location Information
Location Description
Marina is a city in Monterey County, California with
a population of 25,277 at the 2018 Census
estimates. Marina is located along the central
coast of California, 8 miles west of Salinas, and 8
miles north of Monterey.
Marina is also connected to Monterey, California
by California State Route 1, which also connects it
with Santa Cruz, California, after driving for about
35 miles.
Marina was incorporated in 1975 and is the
newest city on the Monterey Peninsula. The city
includes part of the California State University,
Monterey Bay campus, UC Santa Cruz UC
MBEST center, and the Veteran Transition Center
(VTC). In 2012, Marina was named one of the 100
Best Community for Young People by America’s
Promise Alliance.
Location Information (Cont’d)
Location Attractions
Warm and blue water await you just minutes away at Marina
State Beach and Monterey Dunes Preserve. Charter a sailboat
or pack your mobile device and snap photos of Monterey Bay
while on a whale-watching cruise.
Test your luck at Marina Club Casino, or head to Mazda
Raceway Laguna Seca for high-speed thrills.
Golf enthusiasts will want to hit the links at both Bayonet and
Black Horse Golf Courses, renowned for challenging layouts,
scenic beauty, and fabulous golf.
Enjoy and experience the fantasy of golf courses at World
Famous Pebble Beach Golf Links which is only 14 miles away.
Many local wineries boast flavorful vintages, delightful tours,
and wonderful hospitality.
Learn about marine life at Monterey Bay Aquarium or go
shopping at Cannery Row, made famous by John Steinbeck.
Location Information (Cont’d)
Popular Events 2019 in Areas
Whale fest Monterey at Old Fisherman’s Wharf, Monterey
AT&T pebble Beach Pro-Am at Pebble Beach Resorts
California International Airshow at Salinas Municipal Airport
Intercontinental GT Challenge California 8 Hours at Weather Tech
Raceway Laguna Seca
Sea Otter Classic at Laguna Seca Recreation Area
Big Sur International Marathon at Big Sur
California Roots Music & Arts Festival at Monterey County Fair &
Event Center
U.S. Open Championship at Pebble Beach Resorts
Rolex Monterey Motorsports Reunion at Weather Tech Raceway
Laguna Seca
Weather Tech Sports Car Championship at Weather Tech Raceway
Laguna Seca
Indy Car Series Championship at Weather Tech Raceway Laguna
Seca
The Pure Insurance Championship at Pebble Beach Resorts
Aerial Map
Parcel Map
To Pebble Beach
Demographics
Total Population
Economic Comparison
Commute Comparison
Home Value Comparison
Traffic Counts
Traffic Counts (Cont’d)
Contacts
Peter Park
310.720.3053
DRE# 01972472
Hyun Jin Im
213.550.6273
DRE# 01989280
Disclaimer
The information contained herein does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective buyers may need or desire. All financial projections are based on assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and Broker and, therefore, are subject to material variation. This Marketing Package does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the information herein. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective buyers.
Neither Owner nor Broker any of their respective officers, Agents or principals has made or will make any representations or warranties, express or implied, as to the accuracy or completeness of this Marketing Package or any of its contents, and no legal commitment or obligation shall arise by reason of the Marketing Package or its contents. Analysis and verification of the information contained in the Marketing Package is solely the responsibility of the prospective buyer, with the Property to be sold on an as is, where-is basis without any representations as to the physical, financial or environmental condition of the Property.
Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. Owner has no legal commitment or obligations to any entity reviewing this Marketing Package or making an offer to purchase the Property unless and until such sale of the Property is approved by Owner in its sole discretion, a written agreement for purchase of the Property has been fully delivered, ad approved by Owner, its legal counsel and any conditions to the Owner’s obligations thereunder have been satisfied or waived.
This Marketing Package and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the Contents), are of a confidential nature. By accepting this Marketing Package, you unconditionally agree that you will hold and treat the Marketing Package and the Contents in the strictest confidence, that you will not photocopy or duplicate the Marketing Package or any part thereof, that you will not disclose the Marketing Package or any of the Contents to any other entity (except in the case of a principal, who shall be permitted to disclose to your employees, contractors, investors and outside advisors retained by you, or to third-party institutional lenders for financing sought by you, if necessary, in your opinion, to assist In your determination of whether or not to make a proposal) without the prior authorization of the Owner or Broker, and that you will not use the Marketing Package or any of the Contents in any fashion or manner detrimental to the interest of the Owner or Broker.