1940 5th Avenue

Owner-Useror InvestmentOpportunityin the heart of Bankers Hill

Jones Lang LaSalle Americas, Inc.© RE License #01856260

Highlights1940 5th Avenue

11,108 s.f. office/medical building on a 10,000 s.f. lot

Two (2) stories above grade-level parking, plus mezzanine; elevator served

Good on-site parking (3.4/1,000 u.s.f.) including secured lot and surface lot, plus abundant street parking

Building top signage facing south toward on-coming traffic

Exceptional visibility on 5th Avenue

Excellent freeway access from all directions

Flexible occupancy (call for details)

Sales Pr ice : $3 ,950 ,000 ($356/s . f . )

2 | 1940 5th Avenue

1940 5th Avenue | 3

4 | 1940 5th Avenue

Recent renovations include:• new roof mansard

• newer dual-paned windows

• new paint

• new flooring

• refurbished elevator cab

EXISTING FLOORPLANS

1940 5th Avenue | 5

2nd Floor

3rd Floor

Mezzanine

part of 3rd floor suites

Suite 2002,037 r.s.f.

Suite 2021,467 r.s.f.

Suite 2011,261 r.s.f.

Suite 3001,896 r.s.f.

Suite 3011,563 r.s.f.

Suite 3021,121 r.s.f.

Suite 301M662 r.s.f.

Suite 302M524 r.s.f.

Suite 300M628 r.s.f.

Combined2,524 r.s.f.

Combined2,225 r.s.f.

Combined1,645 r.s.f.

Ideal Location Excellent access with direct ingress/egress from all directions.

Located only blocks from Sharp Rees-Stealy Medical Center, Scripps Mercy Hospital and UCSD Medical Center.

Close to the desirable communities of Bankers Hill, Mission Hills, Hillcrest, Little Italy, Downtown, Old Town and Point Loma.

Lemon Grove

I 5

CA 94

SR 163

I-5

CA 15

I 805

I 8

6 | 1940 5th Avenue

Sharp Rees-Stealy Downtown

HH

H

Mission Hills

Hillcrest

Balboa Park

Bankers Hill

Little Italy5th Avenue

4th Avenue

Fir Street

1940 5th Avenue

Grape Street

1940 5th Avenue | 7

1940 5th Avenue

Balboa Park

6th Avenue

5th Avenue

N

Grape Street

8 |1940 5th Avenue

Flexible occupancy to accommodate owner-user or investment opportunity. Contact brokers to inquire.

RENT ROLL

suite 200 201 202 300 & 300M 301 & 301M 302 & 302M

tenant Complexions RX NOLA San Diego Allen Family Law, Inc.

Abbas Jenson & Cundari CPAs Pilates Plus, LLC Spinal

Connection

use medical spa massage & personal training law office accounting firm pilates studio chiropractor

lease start 1/1/2004 1/1/2014 8/1/2015 9/1/2003 4/1/2002 3/1/2012

lease end MTM MTM MTM owener open to leaseback 6/30/2018 2/29/2020

r.s.f.- BOMA 2,037 1,216 1,461 2,524 2,225 1,645

r.s.f - lease 1,825 1,106 1,327 2,524 1,964 1,500

current

monthly rent$3,150 $1,725 $1,750 $4,000 $2,990 $1,950

rent/s.f. $1.73 $1.56 $1.32 $1.58 $1.52 $1.30

total monthly

parking rent$360 $120 $180 $0 $240 $180

included

garage parking

stalls

2 1 1 5 1 1

rented surface

parking stalls6 2 2 5 3 2

total income $3,510 $1,845 $1,930 $4,000 $3,230 $2,130

total in-

come/s.f. $1.92 $1.67 $1.46 $2.38 $1.64 $1.32

building total

income $16,645

1940 5th Avenue | 9

SALES COMPARABLES

2557 3rd Avenue, 92103

10,800 s.f.

unknown build date

5/31/2017 sale date

$4,000,000 sales price

$370/s.f.

sold at full asking price to owner-user

909 W Laurel Street, 92101

10,500 s.f.

built in 1980

2/24/2017 sale date

$4,000,000 sales price

$381/s.f.

100% vacant at time of sale; limited on-site parking; sold to owner-user who will occupy only half of the building

2054 State Street, 92101

8,812 s.f.

unknown build date

12/20/2016 sale date

$3,535,643 sales price

$401/s.f.

5 on-site parking spaces (0.57/1,000 r.sf.)

4065 3rd Avenue, 92103

12,050 s.f.

built in 1991

4/14/2016 sale date

$5,969,000 sales price

$495/s.f.

challenging parking; all cash sale

2870 5th Avenue, 92103

7,865 s.f.

built in 1983

3/10/2016 sale date

$2,965,000 sales price

$377/s.f.

no on-site parking; all cash sale; 30-day escrow

2100 5th Avenue, 92101

10,178 s.f.

built in 1971

11/5/2015 sale date

$3,950,000 sales price

$388/s.f.

primarily office space to be converted to medical by buyer

BUILD EQUITY THROUGH OWNWERSHIP

Occupancy Cost AnalysisEst imated Occupancy Costs with 2 nd f loor owner-occupied

Purchase price $ 3 ,950,000.00

SBA 10% down financing** $ 395,000.00

Amount financed $ 3,555,000.00

Interest rate 4.5%

Monthly payment $ 19,759.84Monthly property taxes $ 3,700.00Other monthly costs $ 1,500.00Total monthly costs $ 24,959.84

Scenario 1 In-Place Rents

Scenario 2 Adjusted Market Rents

Rent - Suite 300 $ (4,000.00) $ (4,000.00)Rent - Suite 301 $ (3,145.00) $ (4,450.00)Rent - Suite 302 $ (1,845.00) $ (3,290.00)Total rental income offset $ (8,990.00) $ (11,740.84)

Average principal payment - 1st 10 years $ (8,100.00) $ (8,100.00)

Net occupancy cost $ 7,869.84 $ 5,119.84Square feet used by owner 5,000.00 $ 5,000.00

Net occupancy cost per square foot $ 1.57 $ 1.02

* This analysis is for preliminary budgeting purposes only. It is recommended that buyer verify all expenses and complete due diligence with independate advisors.** Flexible occupancy to accommodate owner-user or investor. Contact brokers for details.

10 | 1940 5th Avenue

2 ND FLOOR CONCEPTUAL PLANS

1940 5th Avenue | 11

UP

DN

DN

DNRX19UPRX16

RESTROOM

OFFICE8'-6" x 21'RESTROOMRESTROOM

BUSINESSOFFICE

COFFEE/BREAK

CONSULT8'-6" x 11'

TREATMENT8

8'-8" x 11'

TREATMENT7

8'-8" x 11'

TREATMENT1

12' x 11'

TREATMENT2

11'-3" x 11'

TREATMENT3

12' x 11'

TREATMENT5

11' x 11'

TREATMENT4

11' x 10'

PRIVATETREATMENT10' x 11'-10"

CONSULT8'-11" x 12'

STERILIZATION11'-4" x 8'

IMAGING8' x 10'-6"

DIGITALPROC.

POSTTREATMENT

7' x 8'

TREATMENT11

8' x 12'-8"

PRIVATETREATMENT

10'-4" x 11'STOR.

LAB10'-6" x 6'-6"

TREATMENT9

9'-1" x 11'

TREATMENT10

9'-1" x 11'

CHECK-IN

CH

ECK-

OU

T

WAITINGAREA

This conceptual design is based upon a preliminary review of

entitlement requirements and on unverified and possibly

incomplete site and/or building information, and is intended

merely to assist in exploring how the project might be developed. NORTH0 4' 8' 16'

1/8"=1'-0"

SHEET2017.10.10

SDD17-6043-00

FLOOR PLANMARKETING PLAN

SCHEME A - DENTAL OFFICE

1940 5th AVE. 2

UP

DN

DN

DNRX19UPRX16

EXAM11'-5" x 11'

DOCTOR (2)13' x 11'

STOR.

EXAM11' x 9'

PROCEDURE11' x 11'-6"

EXAM10' x 11'

DOCTOR9' x 11'

RESTROOM

EXAM8'-6" x 11'STOR.

EXAM8' x 10'-6"

EXAM8'-6" x 11'

EXAM8'-6" x 11'

EXAM8'-4" x 11'

PROCEDURE10' x 14'-7"

OFFICE8'-6" x 21'RESTROOM

EXAM8'-11" x 12'

RESTROOM

COFFEE/BREAK

BUSINESSOFFICE8'x12'

PROCEDURE11' x 11'-4"

EXAM8' x 10'-6"

LAB6' x 8'

NURSESTATION

NURSESTATION

CHECK-IN

CH

ECK-

OU

T

WAITINGAREA

This conceptual design is based upon a preliminary review of

entitlement requirements and on unverified and possibly

incomplete site and/or building information, and is intended

merely to assist in exploring how the project might be developed. NORTH0 4' 8' 16'

1/8"=1'-0"

SHEET2017.10.10

SDD17-6043-00

FLOOR PLANMARKETING PLAN

SCHEME B - MEDICAL OFFICE

1940 5th AVE. 3

Dental Office

Medical Office

Business Office with bench workstations

RX19RX16

DN

UPDN

DN UP

RESTROOMRESTROOM

OFFICE12'-8" x 9'-8"

OFFICE12'-8" x 11'BREAK

CONFERENCE/OFFICE252 SF

OFFICE11'-5" x 12'

OFFICE11'-7" x 12'

OFFICE11'-5" x 12'

BUSINESS OFFICE16'-7" x 9'-11"

STOR.

COPY

REC

EPTI

ONCONFERENCE

12' x 17'-8"

This conceptual design is based upon a preliminary review of

entitlement requirements and on unverified and possibly

incomplete site and/or building information, and is intended

merely to assist in exploring how the project might be developed. NORTH0 4' 8' 16'

1/8"=1'-0"

SHEET2017.10.10

SDD17-6043-00

FLOOR PLANMARKETING PLAN

SCHEME C2 - BUSINESS OFFICE (BENCH WORKSTATIONS)

1940 5th AVE. 5

CONTACT

Paul BraunRE License #00891709paul.braun@am.jll.com+1 858 410 6377

Chris RossRE License #01469025chris.ross@am.jll.com+1 858 410 6388

Kelly MoriartyRE License #01963162kelly.moriarty@am.jll.com+1 858 410 6359

sdmedicalrealestate.com

DISCLAIMERAlthough information has been obtained from sources deemed reliable, neither Owner nor JLL makes any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. The Property may be withdrawn without notice. Neither Owner nor JLL accepts any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2018. Jones Lang LaSalle IP, Inc. All rights reserved.

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