423 w ventura st offering fillmore, ca 93015 …...423 w ventura st., fillmore, ca 93015 rosano...
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423 W Ventura StFillmore, CA 93015
OfferingMemorandum
Rosano Partners // Offering Memorandum 2423 W Ventura St., Fillmore, CA 93015
Table Of Contents
The information contained in the Marketing & Value Presentation is confidential, furnished solely for the purpose of a review by a prospective purchaser of the Property, and is not to be used for any other purpose or made available to any other person without the express written consent of the Seller or Advisor. Prospective purchasers should also conduct their own due diligence, including, but not limited to, engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the Property or used in the construction of maintenance of the building(s) at the Property.
Property Overview...................... 3
Location Overview .................... 5
Sales Comparables ................. 11
Financials ................................ 16
Demographics ......................... 19
Presented by:
Chantale HearnInvestment Sales Specialist
BRE: 01968251D: 808.446.6485O: 213.802.0227E: [email protected]
Rosano PartnersLos Angeles Office700 S. Flower St, Suite 2526Los Angeles, CA 90017www.RosanoPartners.com
Rosano Partners // Offering Memorandum 3
423 W Ventura StFillmore, CA 93015
Property Overview
Rosano Partners // Offering Memorandum 4423 W Ventura St., Fillmore, CA 93015
Property Overview / Property Description
• Circle K gas station located in Fillmore, CA.
• Business & Land: $2,800,000
• Business: $700,000
• Great owner/user opportunity
• New traffic light and housing development expected to boost sales revenue!
Property Overview
• New signalized light expected to be up and
running December 2016, which should boost sales
revenue by at least 35%
• Directly across the street, a housing development
(74 Homes) is expected to be completed by June
2017, alongside future developments in the area
• Digital LED light for real time price changes
• Owner/user opportunity
• New traffic light expected to slow cars, allowing
more visibility and traffic
PRICE
$2,800,000
PRICE / SF
$1,547.82
PRICE / LOT SF
$204.62
CAP RATE // ACTUAL
3.37%
CAP RATE // PRO FORMA
38.20%
LEASABLE AREA
1,809 SF
LOT SIZE
13,684 SF
Property Overview / Financial Summary
Property Overview / Investment Highlights
Rosano Partners // Offering Memorandum 5
423 W Ventura StFillmore, CA 93015
Location Overview
Rosano Partners // Offering Memorandum 6423 W Ventura St., Fillmore, CA 93015
S
Location Overview / Map
• Located in Simi Valley North of Moorpark
• Adjacent new signalized intersection of Ventura St. & Saratoga St. expected to be in-effect December 2016.
Location Overview / Location Description
Rosano Partners // Offering Memorandum 7423 W Ventura St., Fillmore, CA 93015
S
Location Overview / Map
New traffic light
Dec 2016
Rosano Partners // Offering Memorandum 8423 W Ventura St., Fillmore, CA 93015
Location Overview / Site Map
Rosano Partners // Offering Memorandum 9423 W Ventura St., Fillmore, CA 93015
Location Overview / LA County
African American
American Indian
Asian
Native Hawaiian
Hispanic or Latino
White Alone
Other
Population: 10,017,068 (~26% of California’s population)-4,057.88 Sq Mi Land Area-2,419.6 Persons/Sq Mi-29.5% Bachelors Degree or Higher-3,462,202 Housing Units-47.3% Homeownership Rate-$56,241 Median Household Income
LA County Facts
LA County Demographics
LA County IndustryLos Angeles is the largest major manufacturing center in the United States. -500,000 Manufacturing Workers
Los Angeles and Long Beach ports support international trade.
Rosano Partners // Offering Memorandum 10423 W Ventura St., Fillmore, CA 93015
Location Overview / LA County Economy
Top 5 Companies Headquartered in LA County
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
Walt Disney DirecTV OccidentalPetroleum
EdisonInternational
Health Net
Reve
nues
Mill
ions
Company Names
Series1
Occidental Petroleum - $24,216 MM
Walt Disney Co. - $40,893 MM
Health Net - $11,901 MM
DirecTV - $27,226 MM
Edison International - $12,760 MM
Rosano Partners // Offering Memorandum 11
423 W Ventura StFillmore, CA 93015
Sales Comparables
Rosano Partners // Offering Memorandum 12423 W Ventura St., Fillmore, CA 93015
Price / SF
Sales Comparables / Overview
S. No. Address Sale Price Price / SF
S 423 W Ventura St, Fillmore, CA 93015 $2,800,000 $1,547.82
1 5195 Cochran St, Simi Valley, CA 93063 $2,043,000 $1,299.62
2 1369 Erringer Rd, Simi Valley, CA 93065 $2,525,000 $1,571.25
3 550 W Los Angeles Ave, Moorpark, CA $2,700,000 $282.69
S
2
13
$1,299.62
2
S
$1,051.19
A
$1,547.821
$1,571.25
3
$282.69
Rosano Partners // Offering Memorandum 13423 W Ventura St., Fillmore, CA 93015
Sales Comparables / 01
Closing Date 2/23/2016
Building Size 1,572 SF
Lot SF 18,295 SF
Sale Price $2,043,000
Price/SF $1,299.62
Price/SF Land $111.67
5195 Cochran St, Simi Valley, CA 93063
Rosano Partners // Offering Memorandum 14423 W Ventura St., Fillmore, CA 93015
Sales Comparables / 02
Closing Date 4/16/2015
Lot SF 23,488 SF
Building SF 1,607 SF
Sale Price $2,525,000
Price/SF $1,571.25
Price/Land SF $107.50
1369 Erringer Rd, Simi Valley, CA 93065
Rosano Partners // Offering Memorandum 15423 W Ventura St., Fillmore, CA 93015
Sales Comparables / 03
Closing Date 8/7/2014
Building Size 9,551 SF
Lot SF 54,886 SF
Sale Price $2,700,000
Price/SF $282.69
Price/SF Land $49.19
550 W Los Angeles Ave, Moorpark, CA 93021
Rosano Partners // Offering Memorandum 16
423 W Ventura StFillmore, CA 93015
Financial Analysis
Rosano Partners // Offering Memorandum 17423 W Ventura St., Fillmore, CA 93015
Financial Analysis / Setup
Offering Price: $2,800,000 Gallons CY 2015 Gallons Pro Forma Down Payment: 40% $1,120,000 Scheduled Gas Income: 45,000 $1,000,000 100,000 $3,600,000
$0 $0Current Cap: 3.37% Market Income: $840,000 $1,050,000Pro Forma Cap: 38.20% Other income / Percentage Rent: $0 $0
Price / Bldg sq/ft: $1,547.82 Gross Potential Income: $1,840,000 $4,650,000
$204.62 Cost of Goods Sold: ($1,504,464) ($3,112,500)
Gross Profit: $335,536 $1,537,500Less Expenses: ($280,108) ($467,869)
Net Operating Income: $94,332 28.1% $1,069,631 69.6% *Less Loan Payments: ($93,364) ($93,364)
Cash Flow/CoC Return: $968 0.09% $976,267 87.17% **
First Yr Principal Reduction: $30,891 $30,891
Total Return Before Taxes: $31,859 2.84% $1,007,158 89.92% **
Leasable Area (sq/ft): 1,809 NOTES: * As a percent of Effective Gross Income. ** As a percent of Down Payment.13,684
1980Current Pro Forma
Real Estate Taxes 1.20% $26,250 $26,250Loan Amount: $1,680,000 Insurance 0.35$ $4,982 $4,982Terms (Years): 30 Utilities $25,918 $25,918Interest Rate: 3.75% Repair Maintenance $4,063 $4,063Monthly Payment: ($7,780) Equipment $30,000 $30,000Yearly Payment: ($93,364) Office $4,841 $4,841Financial Summary: Wages $62,239 $250,000
Other $121,815 $121,815Total Expenses $280,108 $467,869Monthly/SF $12.90 $21.55
This information has been secured from sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify all information.
This 1,809 square foot stand-alone building containing Circle K Gas Station, situated on 13,684 square feet of land.
Pricing Summary
Please Contact Rosano Partners for more information at 213.802.0300
Property Description
Lot Size (sq/ft):Year Built:
Financing
Financial Analysis423 W Ventura St
Fillmore, CA 93015
Annualized Operating Data
Annualized Expenses
Price / Land sq/ft:
Deal Notes
Rosano Partners // Offering Memorandum 18423 W Ventura St., Fillmore, CA 93015
Financial Analysis / Rent Roll
Approx. Lease Lease Market MarketRentable % of Commence Expiration Current Rent / Current CAM/ Proforma Rent /
Tenant Sq. Ft. Prop (Mo/Yr) (Mo/Yr) Rent SqFt CAM SqFt Rent* SqFt
Station Tenant 11,495 84% 1/1/17 1/1/20125 $8,500 $0.74 N/A N/A $8,755 $0.76
Convenient Store 1,809 13%
TOTALS: 13,304 97% $8,500 $0 $8,755
Vacant 3.0% $8,500 $8,755
Occupied 97.0% $102,000 $105,060
Current Dollar Vacancy: $0
% Vacancy from Total Rent: 0.0%
*7% increase every 5 years
RENT ROLL1540 N. Eastern Ave.
Los Angeles, CA 90063
Total Monthly Rent:
Total Annual Rent:
This information deemed to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risks
Rosano Partners // Offering Memorandum 19
423 W Ventura StFillmore, CA 93015
Demographics
Rosano Partners // Offering Memorandum 20423 W Ventura St., Fillmore, CA 93015
Demographics / Market Comparison Report
2.90%
2.70%
2.60%
2.65%
2.70%
2.75%
2.80%
2.85%
2.90%
2.95%
2016-2021
Population Growth
1 Mile
County
3.20%
2.80%
2.60%
2.70%
2.80%
2.90%
3.00%
3.10%
3.20%
3.30%
2016-2021
Household Growth
1 Mile
County
Rosano Partners // Offering Memorandum 21423 W Ventura St., Fillmore, CA 93015
Demographics / Market Comparison Report
$77,244
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
County
2016 Med Household Inc
County
35.58
0
5
10
15
20
25
30
35
40
County
2016 Med Age
County
Rosano Partners // Offering Memorandum 22423 W Ventura St., Fillmore, CA 93015
Demographics / Market Comparison Report
84.60%
2.30% 1.90%7.60%
0.30% 3.30%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other
2016 Population by Race
County
The information contained in this presentation is confidential, furnished solely for the purpose of a review by a prospective purchaser of the Property, and is not to be used for any other purpose or made available to any other person without the express written consent of the Seller or Advisor. Prospective purchasers should also conduct their own due diligence, including, but not limited to, engineering and environmental inspections, to determine the condition of the Property and the existence of any potentially hazardous material located at the Property or used in the construction of maintenance of the building(s) at the Property.
Presented by:
Chantale HearnInvestment Sales Specialist
BRE: 01968251D: 808.446.6485O: 213.802.0227E: [email protected]
Rosano PartnersLos Angeles Office700 S. Flower St, Suite 2526Los Angeles, CA 90017www.RosanoPartners.com