Embed Size (px)
Citation preview
Exclusively listed by Marc Karren CA LIC #01912607
1525 Palm Ave, Imperial Beach, CA 92154
Imperial Beach Retail F R E E S TA N D I N G N N N I N V E S T M E N T O P P O R T U N I T Y
FOR SALE
$1,340,000
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 2
OFFERING PRICE
$1,340,000
CAP RATE
5.00% (YR 1)
5.77% (YR 4) Option
NET OPERATING INCOME
$67,200 (YR 1)
$77,280 (YR 4) Option
TOTAL BUILDING AREA
2,400 SF
PRICE PER SF
$558
LAND PRICE PER SF
$69
TOTAL LAND AREA
0.44 Acres
TOTAL LAND FOOTAGE
19,211 SF
OWNERSHIP
Fee Simple
TERM REMAINING
3 Years
OPTIONS
(2) 5-Year Options
BASE RENT INCREASES
15% Every 5 Years
YEAR BUILT
1990
THE OFFERING – Investment Summary | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 3
– Freestanding Retail Pad Investment Offering
– Single Tenant, Absolute NNN Lease
– Corporate Lease with nationally established tenant with over 1,000 locations nationwide
– Neighboring pads are El Pollo Loco & Rally’s restaurants
– 25 off-street parking spaces
– Outparcel to Bay City Plaza, 34,500 SF retail center
– 1/2 mile west of Interstate 5 on Palm Avenue
– Palm Ave is a busy six lane thoroughfare w/ 43,100 cars per day
– 3+ years remaining on the lease, plus options
– Substantial Tenant Improvements
– Flexible property characteristics for future drive through opportunity
THE OFFERING – Investment Highlights | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
SITE
Palm
Ave
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 4
ADDRESS
1525 Palm Ave,
Imperial Beach, CA 92154
PARCEL APN: 627-030-10
ZONING
CC-4-2
LAND AREA
0.44 Acre/19,122 SF
SQUARE FEET
2,400 Rentable Square Feet
PARKING
25 On-Site Parking Spots
TRAFFIC COUNTS
43,100 + Vehicles per day
ADAPTABILITY Future Drive Through
Opportunity
THE PROPERTY – Property Overview | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 5
THE PROPERTY – Area Map | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
Palm Ave
Palm Ave
16th St
SITE
location
El Pollo Loco Rally’s
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
Bay City Plaza
Bay City Plaza
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 6
COMPETITIVE PROPERTY SET | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
1545 & 1531 Palm Ave, San Diego, CA 92154
Rally’s Hamburgers
201 Palm Ave, Imperial Beach, CA 91932
1535 Palm Avenue, San Diego, CA 92154
El Pollo Loco
3295 Palm Avenue, San Diego, CA 92154
Sale Date: 05/31/2014
Sale Price: $1,675,000 ($2,427.54/SF)
Building Size: 690 SF
Lot Size: 0.50 Acres
23 Surface Spaces are available
Sale Date: 11/14/2014
Sale Price: $775,000 ($534.48/SF)
Listing Price: $795,000
Building Size: 1,450 SF
Lot Size: 0.12 Acres
3 free Surface Spaces are available; Ratio of 2.08/1,000 SF
Sale Date: 07/17/2014
Sale Price: $1,900,000 ($833.33/SF)
Building Size: 2,280 SF
Lot Size: 0.44 Acres
22 Surface Spaces are available; Ratio of 6.00/1,000 SF
Sale Date: 10/30/2015
Sale Price: $2,000,000 ($444.44/SF)
Building Size: 4,500 SF
Lot Size: 0.52 Acres
14 free Surface Spaces are available
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 7
THE TENANT – Tenant Summary | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
TENANT TRADE NAME
Fast Auto & Payday Loans,
INC
OWNERSHIP
Private Corporation
LEASE TERM REMAINING
3 years
LEASE EXPIRATION
May 31, 2019
OPTIONS
Two (2) five (5) year options
BASE RENT INCREASE
15% every 5 years
ABSOLUTE NNN LEASE
Zero Landlord responsibilities
TENANT IMPROVEMENTS
$114,000 including new roof
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
Fast Auto & Payday Loans is the leading provider of short-term consumer loans since 1994. Over 1,000 locations nationwide with over 100 in California.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 8
13th St
19th St
THE MARKET – Surrounding Retail & Restaurants | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
Palm AvePalm Ave
75
SITE
Imperial Beach Sign
Breakwater Shopping Center (Coming Soon)
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014 / (858) 792-5521 / LocationMatters.com 9
2010 2015 2020
Population 16,919 17,051 17,515
Households 6,316 6,372 6,555
Avg Household Income N/A $66,246 $75,014
1 MILE
2010 2015 2020
Population 58,987 60,118 62,301
Households 18,617 18,920 19,597
Avg Household Income N/A $63,249 $71,498
3 MILES
2010 2015 2020
Population 206,688 212,530 221,376
Households 63,200 64,617 67,218
Avg Household Income N/A $56,780 $64,192
5 MILES
3 MILES
5 MILES
location
1 MILE
THE MARKET – Demographics | 1525 Palm Ave, Imperial Beach, CA 92154 FOR SALE
![Imperial Beach Branch Branch Hours...Imperial Beach Branch \ U T Imperial Beach Blvd. Imperial Beach, CA ] U ] W V Phone: Z U ] X V X- Z ] \ U Tuesdays: ESL Cafe @ 5 PM Come practice](https://img.dokumen.tips/doc/110x75/60bd922f52a2226fbe2a817f/imperial-beach-branch-branch-hours-imperial-beach-branch-u-t-imperial-beach.jpg)
![Imperial Beach, CaliforniaF99967EB-BF87-4CB2-B… · 9th and palm purchase agmt v15 10-8-13 purchase and sale agreement [9th and palm] by and between imperial beach redevelopment](https://img.dokumen.tips/doc/110x75/606038eb31ebb54e4f43e208/imperial-beach-california-f99967eb-bf87-4cb2-b-9th-and-palm-purchase-agmt-v15.jpg)
