FULLY LEASED MULTI-TENANT RETAIL BUILDING FOR SALE …...The company has 320 branches and more than 300,000 customers across 20 states. The success of our company is specifically attributable

FULLY LEASED MULTI-TENANT RETAIL BUILDING FOR SALE2101 Sylvan Avenue, Modesto, CA 95355O�ering Memorandum

ROB SAUSER [email protected] | (209) 484-6713CalBRE # 01460001 1120 Scenic Drive, Modesto, CA 95350

(209) 527-5640 | www.pmzcommercial.com

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CONTENTSINVESTMENT HIGHLIGHTS

PROPERTY OVERVIEW

LOCATION OVERVIEW

ADDITIONAL PHOTOS

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OFFER GUIDELINES

O�ers should be submitted electronically to Rob Sauser at [email protected]. Call listing agent at (209) 484-6713 for details on o�er guidelines.

ROB SAUSER, Broker AssociatePMZ Commercial Real [email protected] | (209) 484-6713

Multi-Tenant Retail Building For Sale | O�ering Memorandum

2101 Sylvan Ave, Modesto, CA 95355

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FACILITY OVERVIEW

Facility Type Multiple Tenants

Lease Type NNN

Building Size 14,700 SF

Year Built 2006

CURRENT TENANT OVERVIEW

A Bath N Biscuit $19,860

Windows By Jerico $30,900

Taqueria Mis Compadres $81,000

2016TENANT 2017

$20,400

$31,827

$83,160


Investment Highlights

Total Annual Income $ 194,112

Projected 2017 $ 197,475

Projected 2018 $ 200,726

Purchase Price $3,291,250

Projected 2019 $ 205,462

SUMMARY

$31,152Leann’s Nails

$31,908

$31,200Lendmark Financial Svcs

$33,096

Multi-Tenant Retail Building For Sale | O ering Memorandum

Pro Forma Cap Rate 6% (2017)

Financing Potential to assume existing $1.2M loan withfavorable loan terms.

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ANNUAL EXPENSES

DETAILS

TENANT SQ. FT. LEASE TERM CURRENT BASE RENT LEASE TYPE ESCALATIONS OPTIONS

Start & End Monthly & Annually NNN PSF Date Monthly Annually

Total 14,700 $16,177 $194,112 $1.10 AVG

Projected 2017 $16,456 $197,475 $1.12 AVG Projected 2018 $16,727 $200,727 $1.14 AVG Projected 2019 $17,122 $205,462 $1.16 AVG

Windows By 7,200 03/25/15 - 03/31/20 $ 2,575 $ 30,900 $0.37 04/01/17 $2,652 $31,827 Two (2) - Jerico $0.38 04/01/18 $2,732 $32,782 Five (5) year $0.39 04/01/19 $2,814 $33,765 options w/annual $0.40 04/01/20 $2,898 $34,778 3% increases

Taqueria Mis 3,000 03/27/06 – 01/31/26 $ 6,750 $ 81,000 $2.31 02/01/19 $6,930 $83,160 None Compadres $2.36 02/01/22 $7,080 $84,960

Leann’s Nails 1,500 03/01/13 – 05/31/21 $ 2,596 $ 31,152 $1.77 06/01/18 $2,659 $31,908 None $1.82 06/01/20 $2,723 $32,676

Lendmark 1,500 06/01/16 – 05/31/21 $ 2,600 $ 31,200 $1.84 06/01/17 $2,758 $33,096 One (1) - Financial Svcs

A Bath N Biscuit 1,500 12/29/14 - 09/30/21 $ 1,655 $ 19,860 $1.13 08/01/17 $1,700 $20,400 None $1.10 PSF Monthly $1.17 08/01/18 $1,748 $20,976 $1.20 08/01/19 $1,798 $21,576 $1.23 08/01/20 $1,850 $22,200

$1.89 06/01/18 $2,838 $34,060 Five (5) year $1.95 06/01/19 $2,921 $35,053 option w/annual$2.00 06/01/20 $3,006 $36,076 3% increases



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TENANT OVERVIEW

Springleaf Financial was a tenant in the Property since May 2007. In May of 2016, Lendmark Financial Services acquired the western operation of Springleaf Financial and immediately negotiated a new five (5) year lease on the premises. The current lease expires May 31, 2021, and the tenant has one (1) five (5) year option to extend the lease. The current rent is $1.73 PSF NNN. The rent increases annually on June 1. Sign rent will be added to the rent effective June 1, 2017 making the effective rental rate approximately $1.84 NNN.

On May 2, 2016, Lendmark Financial Services, LLC completed the acquisition of 127 branch offices and related loan assets from Springleaf Financial. Springleaf divested the branches as a condition of its acquisition of OneMain Financial.

Lendmark expanded its geographic presence into Arizona, Colorado, Idaho, Ohio, Texas, Washington and California with the transaction and now operates coast-to-coast in 20 states with over 300,000 customers. The acquisition solidifies Lendmark as a leader in the consumer finance industry and supports the company’s overall strategy of being the Lender of Choice, Employer of Choice, and Partner of Choice.

About Lendmark Financial Services

Founded in 1996 and headquartered in Covington, Georgia, Lendmark Financial Services offers personal loans, automobile loans, debt consolidation loans and merchant retail sales financing services. The company has 320 branches and more than 300,000 customers across 20 states. The success of our company is specifically attributable to the quality of our personnel and their commitment to our customers. For more information, contact the corporate office at (678) 625-6532 or visit the company website at www.lendmarkfinancial.com.




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TENANT OVERVIEW

Windows by Jerico was established in 1997 and has been located in the Property since 2006. The owner of the business was previously an owner of the Property and occupies 7,200 square feet which includes a large showroom and office and a small warehouse, product staging area. The current rent charged is substantially below market at just $0.35 PSF NNN. This represents great potential for substantial upside to a new investor, if the Property were to be leased to a new tenant at market rents. The current lease expires on March 31, 2020 subject to Tenant not extending the lease under two (2) - five (5) year options to extend.

http://www.windowsbyjerico.com/

Taqueria Mis Compadres is a locally owned and operated taqueria which has operated at the property since 2006. Last year they extended the existing ten (10) year lease for an additional ten (10) year period. They are recognized in the community as a quality, authentic local Mexican Cuisine restauarant, with an excellent eating experience. The current lease expires January 31, 2026 and the current rent is $2.25 PSF NNN.

https://www.facebook.com/TaqueriaMisCompadres/




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TENANT OVERVIEW

A Bath “N” Biscuit is a boutique dog grooming and pet spa which initially signed a three (3) year lease in December of 2014. The business is led by an executive at Nestle Purina Pet Care who along with the other principles of the business has national show dog experience and has been recognized for their success in national and regional show dog competitions. The business has quickly established itself and its reputation in the community. The ownership is very enthused by the success they have had and recently signed a new five

Leann’s Nail is a locally owned and operated nail salon which entered a three (3) year lease in March of 2013 and subsequently signed an Amendment in February 2016 to extend the lease five (5) years and three (3) months. The current rent is $1.73 PSF NNN, including sign rent. Current lease expires May 31, 2021. Tenant services include manicures, acrylic nails, glitter/sparkle nails, solar tips, spa paraffin wax pedicures, mask spa pedicures, nail airbrush design, and facial wax.

http://leannsnails.com/index.html

(5) year lease. The current lease expires September 30, 2021, with a current rent of just $1.10 PSF NNN including sign rent. This space is leased below market and represents potential upside to investor.

https://www.facebook.com/abathnbiscuit/


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Property Overview


PROPERTY CHARACTERISTICS


Property Type Commercial

Property Use Retail Stores

Building Size 14,700 SF

Year Built 2006

Lot Size 37,167 SF

Jerico Plaza is a 14,700 SF multi-tenant NNN leased retail building, offered at a 6.0% Pro Forma Cap Rate with annual increases. Very clean property with long-term mix of tenants. Excellent opportunity for local or out-of-the-area investor to benefit from above market cap rate in CA.

Excellent NE Modesto location situated across the street from the recently approved The Marketplace neighborhood power center. Expected rents at the power center are $2.40 - $2.60 per SF NNN. The area benefits from some of the highest average household incomes in the market ($75,087). Property has excellent visibility along Sylvan Avenue. Other national retailers in the immediate area include CVS, Save Mart, Dollar Tree, Perko's, Burger King, Del Taco, Chevron, and others.

The City of Modesto, is the county seat and largest city of Stanislaus County, California, United States. With a population of approximately 201,165 at the 2010 census, Modesto ranks as the 18th largest city in the state of California. The Modesto Census County Division, which includes the cities of Ceres and Riverbank, has a population of 312,842 as of 2010.

Modesto is located in the Central Valley, 90 miles (140 km) north of Fresno, 40 miles (64 km) north of Merced, California, 92 miles (148 km) east of San Francisco, 68 miles (109 km) south of the state capital of Sacramento, 66 miles (106 km) west of Yosemite National Park, and 24 miles (39 km) south of Stockton. Modesto has been honored as a Tree City USA numerous times.

JERICO PLAZA

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Location Overview



REGIONAL MAP

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Location Overview


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LOCAL BUSINESSES


Jerico Plaza2101 Sylvan Ave

Modesto GastroenterologyMedical CorporationStop 'n Save

LiquorsSylvan Surgery Center

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Location Overview

PROPOSED SITE PLAN / DAILY TRAFFIC COUNT*



NARAGHI LAKE

28,671

*Traffic count projected to increase with establishment of new shopping center. Current traffic count retrieved through CoStar 12/1/2016.

22,709

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Additional Photos



Additional Photos


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Documents

FULLY LEASED MULTI-TENANT RETAIL BUILDING FOR SALE …...The company has 320 branches and more than 300,000 customers across 20 states. The success of our company is specifically attributable