for sale | nnn leased investment: verizon wireless & at&t · blvd. and offers the stability...

6400 Pacific Blvd | Huntington Park, CA 90255

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.

David Yashar Senior Associate Lic. #01102638 [email protected]

FOR SALE | NNN Leased Investment: VERIZON WIRELESS & AT&T 6400 Pacific Boulevard | Huntington Park, CA 90255 LIST PRICE: $3,875,000



FOR SALE | NNN Leased Investment Verizon Wireless & AT&T 6400 Pacific Boulevard | Huntington Park, CA 90255

INVESTMENT HIGHLIGHTS Stabilized 3-Unit HP Strip Center • Established Tenants on NNN Leases • Upside In rents | One fully fixturized vacant unit (Former Clothing Store) • Occupied by National Credit Tenants | including Verizon Wireless and AT&T Wireless Excellent NNN Opportunity • Delivered Free & Clear | Excellent Exchange or All Cash Opportunity • Strong Actual Income | (5Φнр% Cap Rate) • Excellent Proforma Income | (т%+ Cap Rate) • Plenty of Free Public and Street Parking • Renovated in 2004 | Attractive New Construction and Low Differed Maintenance Prime Retail Location • Signalized Intersection of Pacific Blvd. & Gage Ave. • Excellent Frontage Along Pacific Blvd. & Gage Ave. • Dense In-Fill Location with over 1 Million People Within A 3-Mile Radius • Excellent Daily Car and Foot Traffic Counts • Excellent Local Tenant Mix | RITE AID, JC PENNY, WALGREENS, WSS SHOES, SHIEKH SHOES, BANK OF AMERICA, CVS, CHASE, 99 CENTS ONLY, LA CURACAO, FALLAS PAREDES, PAYLESS SHOES SOURCE and More!

David Yashar Senior Associate Lic. #01102638 [email protected] 118 S. Beverly Dr. #207, Beverly Hills, CA 90210

One Of A Kind NNN Leased Investment Opportunity On The Famous Pacific Blvd With True Upsides In Rent! David Yashar and Re/Max Commercial are proud to bring you this excellent net investment opportunity. The subject consist of 9,745 SF of improvements on approximately 10,000 SF of land. The property is located ŀǘ the signalized corner of Gage and Pacific Blvd. and offers the stability of NNN Corporate tenants. Huntington Park is located in the Los Angeles MSA and is one of the most dense sub-markets. Huntington Park is locateŘ just 10 minutes from Downtown Los Angeles. Verizon Wireless recently renewed their lease for another 5 years and have 2(5) year options reaming with set increases in place. AT&T Wireless is also on a along term lease with increases and options in place. There is one vacancy with excellent frontage (150 Feet) along Gage !ǾŜΦ in great condition and ready to be leased. There is approximately 70 feet of frontage with excellent visibility along Pacific Blvd. The offering will be delivered free and clear of any debt: this is a great opportunity for an all cash buyer or an exchange buyer looking for a stabilized strip center with an excellent tenant mix!

REAL ESTATE INVESTMENT DETAILS

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.

ANALYSIS

Analysis Date May 2014

PROPERTY

Property Verizon Wireless & AT&T

Property Address 6400 Pacific BlvdHuntington Park, CA 90255

Year Built 1949

FINANCIAL INFORMATION

All Cash To Seller

PURCHASE INFORMATION

Property Type Retail

Purchase Price $3,875,000

Tenants 3

Total Rentable Sq. Ft. 9,747

LOANS

Debt Term Amortization Rate Payment LO CostsAll Cash

INCOME & EXPENSES

Gross Operating Income $320,426

Monthly GOI $26,702

Total Annual Expenses ($116,415)

Monthly Expenses ($9,701)

CONTACT INFORMATION

David Yashar, ICSC Member(310) [email protected]

PRO FORMA SUMMARY6400 Pacific Blvd | Huntington Park, CA 90255


TENANT MONTHLY SCHEDULED INCOME

Tenant Actual Proforma Verizon Wireless #14269 $13,500 $14,400

AT&T $6,367 $6,430

Vacant $2,615 $2,615

TOTALS $22,482 $23,445

ANNUALIZED INCOMEActual Proforma

Gross Potential Rent $269,784 $281,336

Less: Vacancy ($28,765) ($14,067)

Misc. Income $79,152 $116,412

Effective Gross Income $320,171 $383,681Less: Expenses ($116,415) ($116,415)

Net Operating Income $203,756 $267,266

ANNUALIZED EXPENSES

Actual Proforma CLEANING EXPENSES - Trash $3,150 $3,150

REPAIRS & MAINTENANCE $275 $275

Utilities - Electricity $32,929 $32,929

Utilities - Water Usage $1,464 $1,464

Property Tax $49,500 $49,500

Insurance-Genl Liability $557 $557

Insurance-Property $1,742 $1,742

Insurance-DIC/Earthquake $5,547 $5,547

Property Management Fee $11,000 $11,000

PROFESSIONAL FEES $3,812 $3,812

MARKETING $150 $150

Dues & Subscriptions $150 $150

Licenses Fees and Permits $100 $100

Maintenance $2,184 $2,184

Overnight Delivery $100 $100

Reproduction $455 $455

State $3,300 $3,300

Total Expenses $116,415 $116,415Expenses Per RSF $11.94 $11.94

INVESTMENT SUMMARYPrice: $3,875,000

Year Built: 1949

Tenants: 3

RSF: 9,747

Price/RSF: $397.56

Lot Size: 10,504 sf

Floors: 1

APN: 6322-004-001

Cap Rate: 5.26%

Proforma Cap Rate: 7%

Suite Tenant NameGLA

OccupiedLease

Commence Lease ExpireCurrent Monthly

RentCurrent Rent/ SF

Proforma Monthly Rent

Proforma Rent/SF Increase Options

Lease Type

A Verizon Wireless 3,600 6/13/14 5/31/19 $13,500 3.75$ $14,400 4.00$ 2 (5 Yr) * NNN

B AT&T 3,069 2/8/11 2/29/16 $6,367 2.07$ $6,495 2.12$ 2% yearly 1 (5 YR)at 2% Increase NNN

C Vacant 3,076 $2,615 0.85$ $2,615 0.85$ NNN

Total Square Feet 9,745 $22,482 $1.27 $23,510 $1.41

Note: *Verizon has renewed a new 5 year lease. Lease Begins July 1st, 2014 @$13,500. Rent increases on December 1st 2016 to $14,400.-

** All performa rents to be triple net

Verizon Wireless & At&TRent Roll

*** All measurements are approximate. All buyers to conduct their own due diligence.

DRIVE BY ONLY PLEASE! DO NOT DISTRUB ANY OF THE TENANTS!!

2% increases will take effect yearly after the tenant excerises their first option.

RENT ROLL6400 Pacific Blvd | Huntington Park, CA 90255


TENANT MIXES

Suite Tenants Approx. SqFt Avg. Rents Monthly Mkt Rents MonthlyA Verizon Wireless 3600 $13,500 $13,500 $14,400 $14,400B AT&T 3069 $6,367 $6,367 $6,430 $6,430C Vacant 3078 $2,615 $2,615 $2,615 $2,6153 9,747 $22,482 $23,445

TENANT MIX TENANT MIX SQUARE FEET

● Verizon Wireless #14269

● AT&T

● Vacant


● AT&T

● Vacant

TENANT MIX INCOME TENANT MIX MARKET INCOME


● AT&T

● Vacant


● AT&T

● Vacant

TENANT MIX REPORT6400 Pacific Blvd | Huntington Park, CA 90255

3,078sf

C

3,600sf

A

VERIZON

WIRELESS

3,069sf

B

ATT

AVAILABLE

DISCLAIMER:

THIS PLAN IS PROVIDED SUBJECT TO ERRORS, OMISSIONS, AND

MODIFICATIONS WITHOUT NOTICE. THE INFORMATION,

SPECIFICATIONS, DIMENSIONS AND/OR TABULATIONS SET FORTH IN

THIS PLAN HAVE BEEN DERIVED FROM DOCUMENTS BELEIVED TO BE

RELIABLE. HOWEVER, THIS PLAN MAY BE INCOMPLETE AND/OR

INACCURATE. NO REPRESENTATION OR WARRANTY, EXPRESSED OR

IMPLIED AS TO THE ACCURACY OR ADEQUACY REGARDING SUCH

INFORMATION IS MADE BY THE OWNER OF THE PROJECT, PROPERTY

MANAGER, OR ANY OTHER RESPECTIVE PARTNERS, DIRECTORS,

OFFICERS, EMPLOYEES AND AGENTS. NONE OF THE FOREGOING

PARTIES SHALL HAVE ANY LIABILITY FOR SUCH ERRORS, OMISSIONS,

INCOMPLETENESS OR INACCURACIES. ANY PERSON OR ENTITY

REVIEWING THIS PLAN SHOULD MAKE THEIR OWN INDEPENDENT

INVESTIGATION OF THE INFORMATION CONTAINED HEREIN.

VERIZON WIRELESS

6400 PACIFIC, LLC.

6400 PACIFIC BLVD.

HUNTINGTON PARK, CA

Primestor Development, Inc.

201 S. Figueroa Street, suite 300

Los Angeles, CA 90012

Tel: 310.652.1177 Fax: 213.223.5598

DATE: 02.19.2014

SITE PLAN

M:\6400 Pacific (Huntington Park)\_Primestor\2014\_base files\6400 SITE\10-Verizon Wireless-Huntington ParkCA.dwg, 2/19/2014 1:40:49 PM, DWG To PDF.pc3,

PRIMESTOR DEVELOPMENT, INC. YA



Downtown Los Angeles

Huntington Park

_____________________________________________________________________________________ AVERAGE PROPERTY AND LEASE Price Range $600k - $2M CAP Rate 6 mo. avg 8.02% NOI $132,234 $/sf $376.74 Building Size 2,600 - 4,500 sf Lot Size .80 - 1.20 acres Lease Term 10 Years Escalations None Credit Ratings:

Moody’s: Baa1

S&P: BBB+

Tenant Overview Verizon Wireless is one of the premier wireless communication brands across the United States, and their real estate offerings follow the same general trend, primarily sitting on premier real estate with incredible visibility along high traffic retail corridors. With a preference for 4,000 square foot buildings, land requirements tend to vary between 0.80 to 1.25 acres. Verizon tends towards 10 year lease terms for free standing locations, however landlords and developers usually have to concede to one of a variety of early termination options varying from year five to seven of the lease, often allowing the landlord the right to recover an additional years rent upon the exercise of that option. Other terms within the lease almost exclusively require the landlord to maintain and repair the roof and structure, as well as parking areas. In contrast to the burdensome lease language regarding landlord obligations and early termination options, Verizon does provide credit, with the parent company rated A by Standard and Poor's with a stable outlook. Knowing the corporate parent is creditworthy provides a level of safety, however the actual tenant and guarantor on the lease varies, as Verizon utilizes a series of Limited Partnerships to secure real estate in different regions, along with other assets such as communication hardware, licenses, and cell towers. Many retailers are seeing their business and real estate model drastically change with the advances in technology, however Verizon remains stable in their needs for class A retail locations to serve as showrooms for their various phone and tablet offerings. Leveraging their existing footprint, Verizon has begun marking their 'Fios' brand of fiber optic cable and high speed internet services in their showrooms. As their offerings continue to expand, this should serve as a further assurance that this retail tenant will continue to evolve and maximize the opportunities available within a brick and mortar showroom.

BIOGRAPHY6400 Pacific Blvd | Huntington Park, CA 90255


PROFESSIONAL BIO

Mr. Yashar has specialized in representing clients in theacquisition and disposition of their retail properties since 1995with a focus on the sale of retail and mixed-used properties inthe southern California region and Los Angeles County includingHollywood, Koreatown, Beverly Hills, East Los Angeles, andHuntington Park areas.

Recognized as one of the top retail agents in Los Angeles,David Yashar knows his market. He is a hard workingprofessional whose experience has earned him a loyal clientbase across the Los Angeles County and Southern Californiaregion. His assertive personal style, expert contract negotiationskills, and strong marketing and promotional skills are evident by

the production of numerous transactions throughout the southern California region.

Mr. Yashar has a work ethic and energy that enables him to produce results for clients when otherbrokers couldn’t. His closed transactions total over an impressive $226 million dollars. He hasearned many awards for his achievements in recognition for his superior performance and clientservice. His accomplishments go beyond the business world as well. He is a real estate cabinetmember for the Jewish Federation’s Real Estate division and is fluent in English, Farsi, andSpanish. Mr. Yashar is also a member of the International Council of Shopping Centers since1998.

Whether you’re a small business owner deciding between buying or developing a building, aninvestor contemplating an exchange, or in charge of a major corporation in need of a creative wayto bring real estate costs under control, Mr. Yashar can find solutions for you. Stand-alone sites,downtown storefronts, multi-use complexes, strip centers, land, single tenant properties - demandcomplete knowledge of demographic trends, traffic patterns and growth projections. David Yasharas a local expert can quickly compile and analyze the information you need to achieve maximumvalue in any retail transaction.

SALES COMPARABLES6400 Pacific Blvd | Huntington Park, CA 90255


Subject 3

1%

2%

3%

4%

5%

6%

7%

8%

Avg.

5.0

Cap Rate

Subject 1 2 3 4 5

$81

$162

$243

$324

$405

$486

$567

$648

Avg.

$432.51

Price per Sq. Ft.



S Verizon Wireless & AT&T6400 Pacific BlvdHuntington Park, CA 90255

Sale Price $3,875,000

Tenants 3

Price/Tenant $1,291,667

Price/SqFt $397.56

Cap Rate 5.26%

Year Built 1949

1 Starbucks & Metro PCS3853 E 3rd StLos Angeles, CA 90063


Tenants 2

Price/Tenant $925,000

Price/SqFt $645.72

Cap Rate N/A

Year Built 2006Sale Date 2/14/2013

Major Tenants

Starbucks

Metro PCS

2 Storefront Retail7017-7021 Pacific BlvdHuntington Park, CA 90255


Tenants 4


Price/SqFt $296.49

Cap Rate N/A




3 Storefront Retail6800-6806 Pacific BlvdHuntington Park, CA 90255


Tenants 8


Price/SqFt $272.51

Cap Rate 5.0%


4 Verizon Wireless6149 US Highway 6Portage, IN


Tenants 1

Price/Tenant $1,748,500

Price/SqFt $426.46

Cap Rate N/A


5 T-Mobile7200 Atlantic AvenueCudahy, CA , CA 90201


Tenants 3


Price/SqFt $521.33

Cap Rate N/A

Year Built N/AOn Market

Demographic Source: Applied Geographic Solutions 11/2013, TIGER Geography page 1 of 1©2014, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2013 Estimates with 2018 Projections

Calculated using Proportional Block Groups

Lat/Lon: 33.9814/-118.2247RS1

6400 Pacific Blvd1 mi radius 3 mi radius

Huntington Park, CA 90255

PO

PU

LA

TIO

N

2013 Estimated Population 53,687 428,232

2018 Projected Population 54,604 435,538

2010 Census Population 52,354 417,576

2000 Census Population 53,932 410,011

Projected Annual Growth 2013 to 2018 0.3% 0.3%

Historical Annual Growth 2000 to 2013 - 0.3%

2013 Median Age 29.1 27.8

HO

US

EH

OL

DS

2013 Estimated Households 13,305 99,518

2018 Projected Households 13,716 102,583

2010 Census Households 13,079 97,832

2000 Census Households 13,070 95,427

Projected Annual Growth 2013 to 2018 0.6% 0.6%

Historical Annual Growth 2000 to 2013 0.1% 0.3%

RA

CE

AN

DE

TH

NIC

ITY

2013 Estimated White 51.2% 42.9%

2013 Estimated Black or African American 0.8% 7.2%

2013 Estimated Asian or Pacific Islander 0.7% 0.6%

2013 Estimated American Indian or Native Alaskan 1.6% 1.0%

2013 Estimated Other Races 45.7% 48.4%

2013 Estimated Hispanic 98.6% 92.1%

INC

OM

E 2013 Estimated Average Household Income $44,061 $43,777

2013 Estimated Median Household Income $38,670 $38,626

2013 Estimated Per Capita Income $10,980 $10,209

ED

UC

AT

ION

(AG

E 2

5+

)

2013 Estimated Elementary (Grade Level 0 to 8) 35.0% 37.8%

2013 Estimated Some High School (Grade Level 9 to 11) 23.6% 20.0%

2013 Estimated High School Graduate 19.6% 21.5%

2013 Estimated Some College 12.1% 11.7%

2013 Estimated Associates Degree Only 3.6% 3.5%

2013 Estimated Bachelors Degree Only 4.4% 4.0%

2013 Estimated Graduate Degree 1.7% 1.4%

BU

SIN

ES

S 2013 Estimated Total Businesses 2,129 10,490

2013 Estimated Total Employees 18,223 118,165

2013 Estimated Employee Population per Business 8.6 11.3

2013 Estimated Residential Population per Business 25.2 40.8

for sale | nnn leased investment: verizon wireless & at&t · blvd. and offers the stability...

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