500 N. Azusa AveWest Covina, CA 91791

OFFERING MEMORANDUM

MULTI -TENANT RETAIL NNN

TABLE OF CONTENTS: EXCLUSIVELY LISTED BY:

Offering SummaryInvestment HighlightRent RollIncome & ExpenseSite Plan / Parcel MapAerial OverviewRegional MapTenant ProfilesArea OverviewDemographics

Brian MelkesianSenior Vice President/Principalbmelkesian@lee-assoc.com909.373.2943 | 01839590

500 N. Azusa AveWest Covina, CA 91791

OFFERING SUMMARY500 N. Azusa Ave., West Covina, CA 91791

LOCATION

OFFERING SUMMARY

FINANCING SUMMARY

500 N. Azusa Ave., West Covina, CA 91791

Price:

Current Net Operating Income @ 100% Occupancy:

Current Capitalization Rate:

Price Per Square Foot:

Net Rentable Area:

Year Built:

Lot Size (Acres):

$5,340,000

±$280,407

±5.25%

±$314

±17,003

1985

±1.11

All Cash or Cash to New Financing

INVESTMENT HIGHLIGHTS500 N. Azusa Ave., West Covina, CA 91791

Internet Resistant Multi-Tenant Retail Investment:• 100% occupied, ±17,003 square foot, 12 tenant investment including Papa Johns Pizza, Subway, Metro PCS, Jackson Hewitt Tax Service and Salon Centric

• Historical long term tenancy with many tenants at the center more than 15 years.

• 1985 ConstructionEase of Management:

• NNN leases with all Tenants

• Strong visibility and signalized intersection. Daily traffic counts in excess of ±45,000 C.P.D

RENT ROLL500 N. Azusa Ave., West Covina, CA 91791

TENANT SUITE SF RATE/SF BASERENT

NNN NEXT RENT INCREASE DATE

RENT INCREASE AMOUNT

STARTDATE

EXPIR.DATE

OPTION

SalonCentric 101 ±2,100 $1.60 $3,370.82 $1,043.74 1/1/21 CPI 2-6% 1/1/2002 12/31/2021 No

Lease Guaranty 102 ±1,416 $1.40 $1,982.40 $592.72 3.0% C.O.E. 2 Years No

Jackson Hewitt 103 ±1,260 $1.23 $1,547.22 $625.91 11/1/20 CPI 3-5% 10/15/02 MTM No

Extra Insurance 104 ±960 $1.52 $1,463.59 $477.28 8/1/20 CPI 3-5% 8/1/05 8/7/2023 No

Honey Donuts 105 ±1,444 $1.48 $2,136.59 $717.57 4/1/21 CPI 3-5% > 25 Years 3/31/2024 No

Subway 106 ±1,200 $1.42 $1,701.51 $596.19 2/1/21 CPI 3-5% > 25 Years 1/31/2023 3,5 Year

Mr. Pollo 107 ±1,200 $1.51 $1,814.82 $596.19 7/1/21 CPI 3-5% 7/1/07 6/30/2022 1,5 Year

Magnet Fashion 108 ±1,140 $1.37 $1,565.00 $566.46 7/1/21 4.3% 4/1/07 3/31/2021 No

Flashy Nails 109 ±1,197 $1.46 $1,743.00 $594.54 9/1/20 CPI 3-5% > 25 Years 9/9/2024 No

Papa Johns 110 ±1,800 $1.39 $2,516.92 $894.28 7/1/21 3.0% 8/20/97 6/30/2024 1,5 Year

Vapor Devils 111 ±1,407 $1.19 $1,669.70 $699.41 4/1/20 4.3% 4/1/13 3/31/2022 No

Metro PCS 112 ±1,493 $1.24 $1,855.61 $741.52 CPI 3-5% 6/1/2004 3/14/2021 No

Monthly Gross Income ±$23,367

Annual Gross Income ±$280,407

INCOME & EXPENSE500 N. Azusa Ave., West Covina, CA 91791

ANNUALIZED OPERATING DATA

Scheduled Gross Income (SGI):

Expense Reimbursement:

Gross Operating Income:

Total Operating Expenses:

Net Operating Income (NOI):

±$280,407

NNN

±$280,407

NNN

±$280,407

Current

SITE PLAN / PARCEL MAP500 N. Azusa Ave., West Covina, CA 91791

AERIAL OVERVIEW500 N. Azusa Ave., West Covina, CA 91791

SUBJECT PROPERTY

E. Rowland AveE. Rowland Ave

W. Puente StW. Puente St

Badillo StBadillo St

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W. Workman AveW. Workman Ave

San Bernardino RdSan Bernardino Rd

MAJOR TENANTS500 N. Azusa Ave., West Covina, CA 91791

Founded in 1984 in Jeffersonville, In Papa John’s now has almost ±5,400 establishments — ±4,456 franchised restaurants operating domestically in all 50 states and in 44 countries and territories. Papa John’s operates 246 “company owned stores” under joint ventures and 35 units in Beijing and North China. PJ is the 4th largest pizza chain in the United States.

SalonCentric, headquartered in St. Petersburg, Florida, and operating in 48 states, is the premier distributor of salon professional products. It’s our vision to be your business partner of choice. We’re committed to doing this by providing the best brands, the best education and the best business-building support, transforming every salon into a destination of choice.Whether you’re visiting one of more than 565 stores, working with one of our expert sales consultants or ordering from us online, we’re committed to listening to your needs and helping you identify the right education and business solutions for your salon. We are passionate about the professional beauty industry and share that passion through a variety of educational opportunities, including in-store demonstration, in-salon trainings, regional classes and large-scale stage presentations at industry shows.

Jackson Hewitt Tax Service Inc. is the second-largest tax-preparation service in the United States; responsible for preparing over 2 million federal, state, and local income-tax returns each year. Founded in 1982 the company is based in Jersey City, New Jersey. It operated more than 6,000 franchised and company-owned locations throughout the United States, including nearly 3,000 located in Walmart stores nationwide. In January 1998, the Cendant Corporation, a consumer conglomerate, purchased Jackson Hewitt in a transaction valued at approximately $480 million. In 2004, Jackson Hewitt Tax Service Inc. was spun off as a separate company.

Subway opened it’s first store in 1965 in Bridgeport, CT. Today Subway is an American privately held restaurant franchise that primarily sells submarine sandwiches (subs) and salads. It is one of the fastest-growing franchises in the world and, as of October 2019, had ±41,512 locations in more than 100 countries. More than half its locations (23,928 or 57.6%) are in the United States. It also is the largest single-brand restaurant chain, and the largest restaurant operator, in the world.

Metro by T-Mobile (formerly known as MetroPCS and also known simply as Metro) is a prepaid brand owned by T-Mobile USA. It previously operated the fifth largest mobile telecommunications network in the United States using code-division multiple access (CDMA). In 2013, the carrier engaged in a reverse merger with T-Mobile USA; post-merger, its services were merged under T-Mobile’s 4G and LTE network. Metro was established in 1994 as General Wireless, Inc., by Roger D. Linquist and Malcolm Lorang PCS referred to the industry term, Personal Communications Service. Its service was first launched in 2002. As of February 2005, MetroPCS had about 1.5 million subscribers in the country.

DEMOGRAPHICS500 N. Azusa Ave., West Covina, CA 91791

POPULATION2020 Estimated Population

2025 Projected Population

2010 Census Population

2000 Census Population

24,436

24,185

24,703

23,985

190,727

187,800

189,915

184,183

494,238

487,260

487,174

481,884

HOUSEHOLDS2020 Estimated Households

2025 Projected Households

2010 Census Households

2000 Census Households

8,169

8,337

7,946

7,794

56,992

57,967

54,641

53,951

140,145

142,776

133,430

131,852

1 - MILE 3 - MILE 5 - MILE

INCOME2020 Average Households Income

2020 Median Household Income

$97,651

$76,727

$96,061

$77,743

$96,550

$77,582

CONFIDENTIALITY AGREEMENT500 N. Azusa Ave., West Covina, CA 91791

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Lee & Associates®-Ontario and should not be made available to any other person or entity without the written consent of Lee & Associates®-Ontario. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Lee & Associates®-Ontario has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property , the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The contained in this Marketing Brochure has been obtained from sources we believe reliable; however, Lee & Associates®-Ontario has not yet verified, and will not verify, any of the information contained herein, nor has Lee & Associates®-Ontario conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

500 N. AZUSA AVE.,WEST COVINA, CA 91791

Brian Melkesian | Senior Vice President/Principal D • (909)373-2943 | E • bmelkesian@lee-assoc.com | DRE #01839590