huge retail space in long beach! · 2019-09-24 · huge retail space in long beach! area overview...

HUGE RETAIL SPACE IN LONG BEACH!2191 N Lakewood BlvdLong Beach, CA 90815

Woody Stahl | 310.710.3829 [email protected]

Huge Retail Space in Long Beach!

INVESTMENT SUMMARY

Investment Overview

Regional Map

AREA OVERVIEW

Local Map

City Overview

County Overview

Aerial Map

PROPERTY DESCRIPTION

Property Details

3D Map

FINANCIALS

Offering Summary

Net Income Statment

Tenant Profiles

Rent Roll

Lease Abstracts

Expense Recovery Reconciliations

COMPARABLES

Sales Comparable Map

Sales Comparables

Leasing Comparable Map

Leasing Comparables

On Market Comparable Map

On Market Comparables

EXCLUSIVELY MARKETED BY :

Lyon Stahl Investment Real Estate

Woody Stahl(310) 710-3829

[email protected]

Lic. 01399621

Brett Lyon(310) 780-1899

[email protected]

Lic. 01717818


Investment Summary

2191 N Lakewood BlvdLong Beach, CA 90815

The information above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its accuracy.

Investment SummaryPriceCap RateNOIOccupancyBuilding SizePrice per Square FootLand AreaOwnership

$6,000,000 7.00%

$420,215 100.00%17,810 SF

$336.89 37,900 SF

Fee Simple

Investment Highlights

Investment Description

Lyon | Stahl is proud to present 2191 N Lakewood Blvd, a large retail spacesituated in the heart of Long Beach. This building is located at the signalizedintersection of N Lakewood Blvd and E Stearns St on a 37,900 sq ft lot, with39 free surface parking spaces.The property has fantastic in-place income from its two tenants, and currently has a 10-year NNN lease with the Fortune 500 company Dollar Tree. The other tenant, JAD Enterprises - a Cannabis Dispensary, is on a modified gross lease and pays 100% of its utilities. In total, these retail spaces generate annual gross rents of $458,320. At a 7% CAP rate, this is an incredible investment opportunity for anyone looking to maximize cash flow and acquire property in the beautiful city of Long Beach!

Corner Lot Retail Space at Signalized Intersection | High Traffic Volume -●

Over 32,000 Daily● Includes 39 Free Surface Parking Spaces | Total Rentable Building Size of

17,810● Dollar Tree NNN Tenant With 10-Year Lease Term● JAD Enterprises (Cannabis Cultivation) | Modified gross paying 100% utilities● JAD is Approved for Licensing and Permitting | Set to Open Q1 of 2019● Strong Cash Flow - 7% CAP Rate


Investment Summary



Regional Map


Area Overview



Local Map


Area Overview



Area OverviewCounty OverviewThe most heavily populated county in the country is Los Angeles County withapproximately 9.9 million people, including about 1 million that live inunincorporated areas of the county. The metropolis - formed by the sixneighboring counties of Los Angeles, Ventura, Kern, San Bernardino,Riverside, and Orange - is home to approximately 19 million residents. LosAngeles County is home to one of the most educated labor pools in thecountry and offers a labor force of more than 4.7 million, of which more than1.5 million are college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eight states.According to the United States Conference of Mayors, Los Angeles Countyboasts a GDP among the twenty largest in the world. Los Angeles County’scontinued economic growth, in contrast to other areas of the state and nation,is due to its diversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast of the California,and covers 4,061 square miles, including the San Clemente and SantaCatalina islands. The County is comprised of approximately 88 vibrant anddiverse cities hosting more than 244,000 business establishments— thegreatest concentration in the state. Los Angeles County has a Gross DomesticProduct (GDP) of approximately $446 billion - placing it among the top 20economies in the world. The combined GDP of Los Angeles and its fivesurrounding neighboring counties places it in the top 10. California is generallyconsidered to be in the top five.

If Los Angeles County were its own nation, its economy would be the 18thlargest in the world. It is home to more than 244,000 businesses, with moreminority and women owned businesses than any other in the nation and is thenation’s top international trade center and manufacturing center. Los Angelesis recognized worldwide as a leader in entertainment, health sciences,business services, aerospace and international trade. Because the LosAngeles area is so large and diverse, it has something to offer to everyone.While Hollywood and the Los Angeles beach culture are part of our collectiveimage of Los Angeles, the city also has more museums than any other cityand some of the best hotels in the world are located in Los Angeles.

Over the years, Los Angeles County has developed a diverse economic base,supported by a number of Fortune 500 companies with headquarters in thearea, including Hilton Hotels, Walt Disney, Occidental Petroleum, DirecTVGroup, Northrop Grumman, Computer Sciences, KB Home, Health Net, Mattel,and Avery Dennison. Key factors positively impacting the region’s economicposition include increased local media production by the entertainmentindustry and a continuing expansion of import flows. Moreover, growth in

aerospace, homeland security and in the private business sector havecontributed positively to the County's economy. Los Angeles' well educatedlabor pool, many universities, wonderful climate, and world class infrastructurewill enable Greater Los Angeles to continue to be a world leader in economicand cultural significance.

County HighlightsLos Angeles County is the world’s 18th largest economy.●

Los Angeles part of the "Tech Coast" and is regarded as the of the main●

entrepreneurial regions of the world. It has approximately 200,000 smallbusinesses, which is twice as many small businesses as can be found in anyother region of the United States.If Los Angeles' five county area were a state, it would be the fourth largest in●

the United States.Los Angeles has more than 80 stage theaters and 300 museums, more than●

any other U.S city.


Area Overview



Aerial Map


Property Description



Property DetailsAddress 2191 N Lakewood Blvd

Long Beach, CA90815

Square Footage 17,810 SFLand Area 37,900 SFYear Built 1944Year Renovated 2016Assessors Parcel Number 7219-006-038

SiteZoning CCPNumber of Buildings 1Number of Stories 1Parking 39 Free Surface Spaces


Financials



Financial

Offering Summary

PriceBuilding SizeLand AreaNumber of Suites/SpacesNumber of StoriesYear BuiltParkingOccupancy

$6,000,00017,810 SF37,900 SF

21

194439 Free Surface Spaces

100.00%

Price per Square Foot $336.89CAP Rate 7.00%Pro Forma Cap Rate 7.61%NOI $420,215Pro Forma NOI $456,640

FinancingLoan Type New/ProposedLoan Amount $3,000,000Down Payment $3,000,000Interest Rate 6.50%Amortization Period 25 YearsAnnual Payment $243,075


Financials



Net Income Statement

Current AnnualIncome

Proforma AnnualIncome

REVENUESGross Potential Rent $458,319 $483,240Less: Current Vacancy 0 0

Effective Scheduled Rent 458,319 483,240

Expense Reimbursement 48,496 60,000

Effective Gross Income $506,815 $543,240

OPERATING EXPENSESReal Estate Taxes 75,000 75,000Insurance 5,400 5,400Utilities 4,000 4,000Bank Service Charges 1,200 1,200Business Lic./Permits 800 800Postage 200 200

TOTAL EXPENSES $86,600 $86,600

NET OPERATING INCOME $420,215 $456,640

Debt Service $165,702 $165,702NET CASH FLOW AFTER DEBT SERVICE $254,513 $290,938

Principal Reduction $55,639 $55,639TOTAL RETURN 10.34% 11.55%Expenses Per SF $4.86 $4.86% of EGI 17.09% 15.94%


Financials



Rent Roll

Lease Terms Rental Rates

Suite Tenant Name SF % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type Market PSF/Yr T.I.s Admin LL Responsibilities

1 Dollar Tree 10,000 56.15% Oct-2016 Oct-2026 Current $13,193 $1.32 $158,320 $15.83 $16.50

Oct-2021 $13,750 $1.38 $165,000 $16.50

2 JAD Enterprises 7,800 43.80% Oct-2017 Oct-2022 Current $25,000 $3.21 $300,000 $38.46 MG $40.80

Oct-2020 $25,750 $3.30 $309,000 $39.62

Oct-2021 $26,523 $3.40 $318,270 $40.80

Oct-2022 $27,318 $3.50 $327,818 $42.03

NNN

CONFIDENTIALITY AND DISCLAIMER

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is intended to be reviewed only by the party receiving it from Broker and should notbe made available to anyone else without the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you will hold it in the strictestconfidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in the subject property (“Property”). The information in this Memorandumhas been obtained from sources Broker believes to be reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever including but not limitedto the accuracy or completeness of the information, veracity or accuracy of the information, condition of the Property or its compliance or lack of compliance with applicable governmentalrequirements, developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square footage of the Property and improvements, the presence orabsence of contaminating substances, PCB’s or asbestos, the compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant or any tenant’s plans or intentions to continue occupancy of the Property. The Memorandum has selected information relating to the Property and does not purport to be an all- inclusive representation regarding the Property or to contain all or part of the information which prospective investors may require to evaluate the purchase of the Property. Additional information andan opportunity to investigate the Property will be made available to interested and qualified prospective purchasers. All information is based on assumptions relating to the general economy, marketconditions, competition and other factors beyond the control of Broker, therefore, all information is subject to material variation. The information contained herein is not a substitute for a thorough duediligence investigation. Interested parties are expected to review all information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the Property, and/or to terminate discussions at any time with or without notice.The Owner shall have no legal commitment or obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any conditions to the Owner’sobligations therein have been satisfied or waived.

Exclusively Marketed By:

Lyon Stahl Investment Real Estate

Woody Stahl

(310) 710-3829

[email protected]

Brett Lyon

(310) 780-1899

[email protected]

huge retail space in long beach! · 2019-09-24 · huge retail space in long beach! area overview...

Documents