norton plaza offering memorandum€¦ · advances, title loans, title pawns, check cashing, western...

OFFERING

MEMORANDUM10900 Long Beach Blvd, Lynwood, CA 90262

NORTON PLAZA

PROPERTY PHOTOS

1537-1565 E. 23rd St. Los Angeles, CA 90011

10900 Long Beach Blvd

Lynwood, CA 90262

PROPERTY PHOTOS (CONT’D)



Lynwood, CA 90262

PROPERTY OVERVIEW

Price $4,690,000

Capitalization Rate 5.6%

Gross Leasable Space 8,800 SF

Year Built 1947 / Remodeled 2005

Lot Size (Acres) 15,850 SF

Assessor Parcel Number 6191-005-026

Zoning LYC2A*

Use CodeCommunity: Shopping Plaza, Shopping

Center, Mini-Mall



Lynwood, CA 90262

The information herein has been obtained from sources we believe to be reliable. However, we cannot assume responsibility for its accuracy.

PROPERTY OVERVIEW (CONT’D)

Property is located in the heart of Lynwood city retail strip with 100% leased to national and

regional credit tenants providing excellent income stability

All tenants are on NNN leases require to pay for insurance, maintenance and property taxes

Strong demographics supports retails businesses in the area with high spending by rich income

Latino community

Most of the Tenants been doing businesses over 10 years in same location with additional

renewal of leases

Co-tenant with The UPS store, Wing Stop, Little Caesars, Freeway Insurance, GameStop, Metro

PCS and Baskin Robbins in additional pads next this property, which bring more customers to

this location


Lynwood, CA 90262

LOCATION

Lynwood City is centrally located south of Down Town Los Angeles

Close to I-105 freeway, I-710 freeway and I-10 freeway which makes this city connects to LAX

and Long Beach Harbor. Close to Plaza Mexico and other retail stores along the Long Beach

Blvd

City is adding many features like Bicycle and Pedestrian transportation plane to increase more

population to the area to make city more safe and attractive community with a high quality of life

style

Additional city plan to make more public parks & recreation center to neighborhood


Lynwood, CA 90262

INVESTMENT OVERVIEW

Strong NNN National and Regional credit tenants

Close to all major freeways (I-10, I-105 and I-710)

Few blocks from Plaza Mexico

Centrally located within public transportation (Green Line, Metro light rail system, regional

bus routes)

Heavy foot/auto traffic throughout day & night

Well maintained and easy management & maintenance

Easy access from 3 different entrances from Long Beach Blvd


Lynwood, CA 90262

OFFERING SUMMARY



Lynwood, CA 90262

Offering Summary

• Price

• CAP

• NOI (2019)

• Price Per Sq.ft.

• Lease Type

• Ownership

$4,690,000

5.6%

$262,944

$528

NNN

Fee Simple

(Land & Building)

RENT ROLL

SuiteTenant Name

SQ.FT. Lease Begin Lease EndRent

IncreaseMonthly

Base RentYearly Per

SFOption

101Cricket

Wireless1,422 3/13/14 3/31/21 Fixed $3,387.92 $28.59 None

102T-Mobile

USA2,652 12/1/05 9/30/22

2%Annual

$4,681.80 $21.181-(5 year)

MRV

103Cash Into Check, Inc

1,422 7/1/06 7/31/2020 Fixed $3,712.75 $31.331 (3 year)

FMV

104

Western Dental

Services, Inc

2,874 11/1/05 4/30/213%

Annual$10,129.30 $42.29

1 (5 year) MRV

Totals / Averages

8,370 $21,912

Occupied SF

8,370

Vacancy 0%


Lynwood, CA 90262

TENANT PROFILES



Lynwood, CA 90262

T-Mobile US provides wireless voice, messaging, and dataservices in the United States, Puerto Rico and the U.S. VirginIslands under the T-Mobile, Metro by T-Mobile brands. Thecompany operates the third largest wireless network in theU.S. market with over 65.5 million customers and annualrevenues of $32 billion. Its nationwide network reaches 98percent of Americans, through its EDGE 2G/HSPA 3G/HSPA+4G/4G LTE networks, as well as through roamingagreements. As of 2018, J. D. Power and Associates, a globalmarketing-information-services firm, ranked the companyhighest among major wireless carriers for retail-storesatisfaction four years consecutively and highest forwireless customer care two years consecutively.

Tenant Type

Number of Locations

National Credit

4,114

As a pioneer in the short-term, direct lending industry,Check Into Cash has been providing everyday people withthe emergency credit solutions they need for 25 years.Founded in 1993 by entrepreneur and philanthropist AllanJones in Cleveland, Tennessee, Check Into Cash now servescustomers in both their 800+ stores and online nationwidespecializing in personal credit options. Check Into Cashoffers many services, including: Payday Advances, CashAdvances, Title Loans, Title Pawns, Check Cashing, WesternUnion, bill pay services, and reloadable U.S. Money Cards intheir centers, as well as Payday Loans and Installment Loansonline. Check Into Cash truly is your One Stop MoneyShop® .

Tenant Type

Number of Locations

National Credit

1,002

TENANT PROFILES



Lynwood, CA 90262

Tenant Type

Number of Locations

Regional Credit

199

Tenant Type

Number of Locations

National Credit

5,745

Western Dental & Orthodontics is a more than 100-year oldcompany. Began with a single office in Los Angeles andhave since grown to be the largest dental practicemanagement company in the West, with over 200 offices.Western Dental & Orthodontics and Brident Dental &Orthodontics now has offices in California, Arizona, Nevadaand Texas. Quality services. Affordable orthodontics. As the#1 provider of Orthodontic care in California and Arizona,Western Dental & Orthodontics leads these states in boththe number of providers and offices, as well as patientstreated. Each office is equipped with the latest,technologically advanced equipment and provides allrelated orthodontic and braces services – free orthodonticconsultations, panoramic and digital x-rays, retainers andfollow-up care, and many braces options – in oneconvenient location.

Cricket Wireless LLC is a prepaid wireless service providerin the United States, a wholly owned subsidiary of AT&TInc. It offers mobile voice, text, and data using parentAT&T's nationwide network. Cricket Wireless was foundedin 1999 by Leap Wireless International, Inc. On July 12,2013, AT&T Inc. agreed to acquire Cricket's parent companyLeap Wireless International for $1.2 billion. The merger wasapproved by the Federal Communications Commission onMarch 13, 2014, and later that same day, Leap Wirelessannounced the completion of its acquisition by AT&T.

AERIAL MAP



Lynwood, CA 90262

ADJACENCY MAP



Lynwood, CA 90262

PARCEL MAP



Lynwood, CA 90262

SALES COMPARABLES

Address Date Price SQ.FT. Year Built Lot Size

8530 S Figueroa StLos Angeles, CA 90003

04/06/2018 $5,950,000 8,306 1983 25,799 SF

10721 Atlantic AveLynwood, CA 90262

02/08/2017 $15,520,000 90,295 1997 179,554 SF

4181 Tweedy BlvdSouth Gate, CA 90280

11/28/2017 $2,850,000 6,100 1990 10,031 SF

8925 Apollo WayDowney, CA 90242

09/26/2018 $1,720,000 73,080 2015 N/A

6900-7000 Santa Fe AveHuntington Park, CA 90255

09/11/2018 $23,750,000 7,807 / 20,655 19899,932 SF / 54,188 SF

6151 Heliotrope AveMaywood, CA 90270

6/1/2017 $1,100,000 5,553 1989 15,963 SF


Lynwood, CA 90262

DEMOGRAPHICS10900 Long Beach Blvd

Lynwood, CA 90262

CONFIDENTIALITY & DISCLAIMER

Property: 10900 Long Beach Blvd. Lynwood, CA 902621. Buyer is interested in the possible purchase of the Property, and Buyer represents that it has the experience and financial capabilities to evaluate and purchase the

Property. All information furnished to Buyer by the Seller or by REALTEX Properties, Inc. (= “REALTEX”) shall not be duplicated, and it shall be used solely for

Buyer’s evaluation of the purchase of the Property for its own account as a principal. Buyer and those persons retained by Buyer that need to know any such

information for the purpose of evaluating Buyer’s possible purchase of the property (“Related Parties”) shall keep all such information confidential. Buyer, Related

Parties and Broker shall not communicate with any tenant, property manager, agent or other person having rights or responsibilities with respect to the Property.

Buyer, Related Properties and Broker shall not disclose any information regarding the Property to any other person nor shall they discuss the Property with any other

person. Buyer and Broker agree that neither the Seller nor REATLEX will have an adequate remedy at law if Buyer or Broker violates the terms of this agreement and

that the Seller and REATLEX shall have the right, in addition to any other rights, to seek injunctive relief to restrain any breach or threatened breach of this

agreement and/or specific enforcement of its terms.

2. The information contained in the following Marketing Brochure/Setup Sheet is proprietary and strictly confidential. This Market Brochure/information has been

prepared to provide summary, unverified, information to prospective buyers and to establish only a preliminary level of interest in the subject property. This

information contained herein is not a substitute for a through due diligence investigation. The information contained in this Marketing brochure/Setup Sheet has been

obtained from sources we believe to be reliable, however, REALTEX has not verified, and will not verify, any of the information contained herein, nor has REALTEX

conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information

provided. REATLEX has not made any investigation, and makes no warranty or representation with respect to the income, expenses, or tenancy for the subject

property, the future projected financial performance of the property, the size and square footage for the property and improvements, building structures, the

presence or absence of contamination substances, PCB’s mold or asbestos, oil/gas, underground sewer, toxic or hazard materials. The compliance with State and

Federal regulations, American Disability Acts facilities, the physical condition of the improvements thereon, or the financial condition or business prospects of any

tenant, or any tenant’s plans or intention to continue its occupancy of the subject property. All potential buyer(s) must take appropriate measures to verify all of the

information set forth herein at own source/judgment and situation .

3. Buyer agrees that neither the Seller nor REALTEX make any representations or warranties of accuracy, completeness or otherwise regarding any information

provided. Such information was received from third party sources and has not been independently verified by REALTEX. Financial information contains estimates

based on assumptions and may not represent the current or future performance of the Property. Buyer agrees that Buyer’s decision to purchase the Property shall be

based solely on Buyer’s independent investigation and evaluation of the Property and all information relating to the Property and not on any information provided by

the Seller or REALTEX. Buyer and Broker agree that the Seller and REALTEX shall have no liability with respect to any information provided by the Seller or

REALTEX.

4. Buyer’s realtor commission ( % of the final Sale Price ) shall be paid at closing of the escrow in completion to a cooperating broker that represents the buyer that

acquires subject property.


Lynwood, CA 90262

CONTACTS


Realtex Properties, Inc3960 Wilshire Blvd. #401, Los Angeles, CA 90010

Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised

to independently verify the accuracy of all information through personal inspection and with appropriate professionals. Information deemed reliable but not guaranteed.

Paul Bahk

Realtor®

213-448-5509

[email protected]

DRE# 01164018


Lynwood, CA 90262

norton plaza offering memorandum€¦ · advances, title loans, title pawns, check cashing, western...

Documents