single tenant nnn property for sale€¦ · (3.00% cap) rental increase. 3% annual . increases....

REDONDO BEACH PIER

HERMOSA BEACH PIER

HERMOSA BEACH

REDONDO BEACH

MANHATTAN BEACH PIERMANHATTAN BEACH

SANTA MONICABEACH PIER SANTA MONICA

HERMOSA AVE

REDONDO BEACHKING HARBOR

SINGLE TENANT NNN PROPERTY

FOR SALE

2620 HERMOSA AVE HERMOSA BEACH

| 2 |2620 HERMOSA AVE, HERMOSA BEACH, CA

This is a confidential Memorandum intended solely for your limited use and benefit

in determining whether you desire to express further interest in the acquisition of the

Property.

This Memorandum contains selected information pertaining to the Property and does

not purport to be a representation of the state of affairs of the Property or the owner of

the Property (the “Owner”), to be all-inclusive or to contain all or part of the information

which prospective investors may require to evaluate a purchase of real property. All

financial projections and information are provided for general reference purposes only

and are based on assumptions relating to the general economy, market conditions,

competition and other factors beyond the control of the Owner and Highland Partners

Corp. Therefore, all projections, assumptions and other information provided and

made herein are subject to material variation. All references to acreages, square

footages, and other measurements are approximations. Additional information and an

opportunity to inspect the Property will be made available to interested and qualified

prospective purchasers. In this Memorandum, certain documents, including leases and

other materials, are described in summary form. These summaries do not purport to

be complete nor necessarily accurate descriptions of the full agreements referenced.

Interested parties are expected to review all such summaries and other documents of

whatever nature independently and not rely on the contents of this Memorandum in

any manner.

Neither the Owner or Highland Partners Corp, nor any of their respective directors,

officers, Affiliates or representatives make any representation or warranty, expressed or

implied, as to the accuracy or completeness of this Memorandum or any of its contents,

and no legal commitment or obligation shall arise by reason of your receipt of this

Memorandum or use of its contents; and you are to rely solely on your investigations

and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all

expressions of interest or offers to purchase the Property, and/or to terminate discussions

with any entity at any time with or without notice which may arise as a result of review

of this Memorandum. The Owner shall have no legal commitment or obligation to any

entity reviewing this Memorandum or making an offer to purchase the Property unless

and until written agreement(s) for the purchase of the Property have been fully executed,

delivered and approved by the Owner and any conditions to the Owner’s obligations

therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are

of a confidential nature, that you will hold and treat it in the strictest confidence and that

you will not disclose this Memorandum or any of its contents to any other entity without

the prior written authorization of the Owner or Highland Partners Corp. You also agree

that you will not use this Memorandum or any of its contents in any manner detrimental

to the interest of the Owner or Highland Partners Corp.

If after reviewing this Memorandum, you have no further interest in purchasing the

Property, kindly return this Memorandum to Highland Partners Corp.

© 2020 | Highland Partners Corp. | The information being provided by Highland

Partners Corp. and/or its sources is deemed reliable. While we have no reason to

doubt its accuracy, we do not guarantee it. Any information, measurements, facts and

actual drawings shown are approximate, subject to change, or withdrawal without

notice and should be independently verified by you and may not be relied upon as a

precise representation by this office. No warranties or representations are made as to

the condition of the property or any hazards contained therein nor any to be implied.

| Logos are for identification purposes only and may be trademarks of their respective

companies.

CONTACT:

MICHAEL GRANNISLic. 01393628Phone: 310-379-2228 ex [email protected]

880 Apollo StreetSuite 331El Segundo, CA 90245

CONFIDENTIALITY AGREEMENT

2620 HERMOSA AVE, HERMOSA BEACH, CA


ASKING PRICE

$3,000,000 (3.00% CAP)

RENTAL INCREASE

3% ANNUAL INCREASES

TERM

LEASE EXPIRES 11/30/2021

NOI

$91,212

LEASE TYPE

NNN

Highland Partners Corp is pleased to present the opportunity to acquire 2620 Hermosa Ave in Hermosa Beach. This freestanding building is currently 100% NNN leased and is located in the highly desirable South Bay submarket of Los Angeles County.

PROPERTY OVERVIEWAddress: 2620 Hermosa Ave

Hermosa Beach, CA

Building Size:

APN:

Zoning:

1,306 SF

4181-025-029

HBC1YY

INVESTMENT SUMMARY


TENANCY

SINGLE


HERMOSA BEACH PIER

HERMOSA AVE

GREE

NWIC

H VI

LLAG

E

REDONDO BEACH



PARCEL MAP

SITE

HERMOSA AVE



SITE



SITE

HERM

OSA

AVE

GREENWICH VILLAGE



TENANT SUMMARYEl Gringo

www.elgringo.com

El Gringo was established in Hermosa Beach in 1986. Local restaurateur Bill Graw

had a vision when he saw the Hermosa Beach landmark El Gringo for sale in 2001.

After taking over the operation, El Gringo Mexican Restaurant has become wildly

popular with locals and visitors alike. El Gringo has consistently been voted Best

Mexican Restaurant by the locals. In 2004, El Gringo opened its second location in

Manhattan Beach. In 2006, a location was opened in Redondo Beach based on the

same model. The fourth El Gringo opened in El Segundo in 2017 serving full liquor.

Through the years, as the beach communities have transformed, El Gringo has

adapted to meet the changing lifestyles as a result of listening to the feedback of

their loyal customers.

GREENWICH VILLAGE



HERMOSA BEACH MARKET OVERVIEWHermosa Beach is a beachfront city in Los Angeles County, California, United States. Its population

is 19,894. The city is located in the South Bay region of the greater Los Angeles area and is one

of the three Beach Cities. Hermosa Beach is bordered by the other two, Manhattan Beach to the

north and Redondo Beach to the south and east. The city’s beach is popular for sunbathing, beach

volleyball, surfing, paddle boarding and bars. The city itself extends only about 15 blocks from

east to west and 40 blocks from north to south, with the Pacific Coast Highway running down the

middle. A paved path, called The Strand, runs along Hermosa’s beach from Torrance Beach to

the south and approximately twenty miles north to Santa Monica. The Hermosa Beach pier is at

the end of Pier Avenue, which is one of the beach community’s main shopping an dining areas.

Hermosa Beach is one of the most affluent beach cities in the region and has a growing population

of professionals and families.

Population: 19,894

Median age: 38.8

Median HH Income: $128,435

Median Property Value: +$1.0M

Bachelor’s Degree +: 73.5%

CITY DEMOGRAPHICS



1-Mile 3-Mile 5-Mile

POPULATION

Estimated Population (2019) 19,304 78,373 133,163

Projected Population (2024) 19,088 77,413 131,571

Census Population (2010) 19,253 77,927 132,487

Census Population (2000) 18,646 74,069 129,232

Projected Annual Growth (2019 - 2024) -0.2% -0.2% -0.2%

Historical Annual Growth (2010 to 2019) - - -

HOUSEHOLDSEstimated Households (2019) 9,218 34,260 57,365

Projected Households (2024) 9,419 35,405 58,727

Census Households (2010) 8,856 32,823 54,917

Census Households (2000) 8,968 32,905 54,497

Projected Annual Growth (2019 - 2024) 0.4% 0.5% 0.5%

Historical Annual Growth (2000 to 2019) 0.1% 0.2% 0.3%

HOUSEHOLD INCOMEEstimated Average Household Income (2019) $231,639 $206,802 $177,248

Estimated Median Household Income (2019) $133,513 $128,511 $118,488

Estimated Per Capita Income (2019) $110,631 $90,417 $76,406

1-Mile 3-Mile 5-Mile

DAYTIME DEMOGRAPHICSEstimated Total Businesses 1,886 4,704 8,086

Estimated Total Employees 13,084 28,307 61,020

AGEMedian Age 38.7 38.7 38.8

LABOR FORCELabor Population Age 16 Years or Over (2019) 16,194 64,302 109,752

Estimated Civilian Employed (2019) 11,258 44,049 74,652

Estimated Civilian Unemployed 267 1,228 2,104

Estimated in Armed Forces 11 171 255

Estimated Not in Labor Force 4,658 18,853 32,751

Demographic Source: Applied Geographic Solutions 10/2019, TIGER Geography

DEMOGRAPHICS (2019)


Exclusively Marketed By:

MICHAEL GRANNIS

Lic. 01393628

Phone: 310-379-2228 ex 2

[email protected]

Highland Partners Corp. 880 Apollo Street, Suite 331 El Segundo, CA 90245

2620 HERMOSA AVE HERMOSA BEACH

single tenant nnn property for sale€¦ · (3.00% cap) rental increase. 3% annual . increases....

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