sunrize shopping center - loopnet€¦ · investment overview property overview coldwell banker...

1COLDWELL BANKER COMMERCIAL | WWW.CBCLYLE.NETCONFIDENTIAL OFFERING MEMORANDUM

S U N R I Z E S H O P P I N G C E N T E R8 6 0 1 - 8 6 7 9 B A S E L I N E R O A D , R A N C H O C U C A M O N G A , C A 9 1 7 3 0

CALDRE 01462012


CONFIDENTIALITY AND DISCLAIMER

CONFIDENTIALITY AND DISCLAIMERThe 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 Coldwell Banker Commercial Lyle & Associates and should not be made available to any other person or entity

without the written consent of Coldwell Banker Commercial Lyle & Associates. 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. Coldwell Banker Commercial Lyle & Asso-ciates 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 information contained in this Marketing Brochure has been obtained from sourc-es we believe to be reliable; however, Coldwell Banker Commercial Lyle & Associates has not verified, and will not verify, any of the infor-mation contained herein, nor has Coldwell Banker Commercial Lyle & Associates 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.

NON-ENDORSEMENT NOTICEColdwell Banker Commercial Lyle & Associates is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee

identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Coldwell Banker Commercial Lyle & Associates, its affiliates or subsidiaries, or any

agent, product, service, or commercial listing of Coldwell Banker Commercial Lyle & Associates, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR COLDWELL BANKER COMMERCIAL LYLE & AS-SOCIATES AGENT FOR MORE DETAILS.


INVESTMENT OVERVIEW

PROPERTY OVERVIEWColdwell Banker Commercial is pleased to present the rare opportunity to acquire the Sunrize Shopping Center, a grocery anchored redevelopment opportunity within the affluent city of Rancho Cucamonga, CA. The 99,424 SF retail center is comprised of seven buildings which are 100% leased to 39 tenants, some of which are national tenants, and many of which have been in the shopping center for over 30 years. Sunrize Shopping Cen-ter has excellent synergy and offers an owner substantial upside by expanding the anchor tenant into the adjacent units and renewing many of the month to month leases to market rents.

LOCATION OVERVIEWThe Sunrize Shopping Center has excellent visibility at the signalized, hard corner intersection of Carnelian Street and Baseline Avenue, both of which are major arterials in Rancho Cucamonga connecting the property to major freeways including the 210, 15 and the 10 freeways. The prop-erty features over 48,000 cars per day and is considered an established neighborhood shopping center in the trade area. The 5-mile trade area is supported by an affluent and strong population of nearly 300,000 with an average household income of over $97,000, drawing similar comparisons in demographic to master planned communities in South Orange County, including Irvine and Mission Viejo.

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

PRICE: $20,000,000 CURRENT OCCUPANCY 100%

NOI (YEAR 1) $1,141,079 TOTAL BUILDING AREA ±99,424 SF

CAP RATE (YEAR 1) 5.71% TOTAL LAND AREA ± 402,930 SF (9.25 AC)

PARKING SPACES 481+ Parking Stalls (4.86 per 1,000 SF) PRICE PSF $201.16

YEAR BUILT 1970 ZONING Neighborhood Commercial


SITE PLAN

PARKING

PARKING

PARKING

DRIVE THRU

CARNELIAN

STREET

(20,075 VPD)

(28,210 VPD)

BASELINE ROAD

(NAP)

(NAP)

(NAP)

NOT TO SCALE

8647 8649 8651 8653

8653.5

86558559

&8661

8663

8663.58669

CAR WASH

8623

8621

8617-19

8625 8671

8675

8679

7334

8673-B86738667

8639.5 8639 8637.5

8637

8635

8633

8631

8601 8603&

8603.5

8605 8605.5 8607&

8609

8611 8613&

8615

86658641-8645

APN0207-022-03 (5.64 AC)0207-022-04 (3.61 AC)

LAND SIZE9.25 AC (402,930 SF)

PARKING STALLS481

TOTAL GLA99,424 SF

TENANT UNIT SF

Tam’s Burgers 7344 2,000Molen Car Wash 8601 2,064Pacific Taekwondo 8601 1,600Rancho Feed 8603-8603 1/2 3,200Bicycle Store 8605 1,600Happy Moments 86051/2 1,600Brandon’s Diner 8607-8609 3,200Beast Moto Designs 8611 1,600Music and Arts 8613-8615 3,200Kitchen Post 8617 1,300ABC Shoe 8621 300Barber Shop 8623 1,000Party Warehouse 8625 10,400Old Town Baking 8631 6,200DP Door 8633 7,200Mobile Fixers 8635 1,200Yeh and Yu Optometry 8637 1,800Dance Studio 8637 1,000Hairstory Salon 8639 1,000Dr. Bradle 8639 1/2 1,000Pet Hospital 8641-8645 4,980Old Town Baking 8647 1,800Lorrie’s Paw Spa 8649 1,440Pacific Coast 8651 1,200Frame Shop 8653 900Storage 8653 1/2 900Griffin Laundromat 8655 1,800Watch Repair 8657 KioskRecycling 8657 1/2 KioskSierra Pharmacy 8659-8611 2,700Richard’s Fabrics 8663 1,900Houston Floors 8663 1,100Massage 8665 1,200Sunrise Tailors 8667 900Donut Shop 8669 1,200Pizza Royal 8671 3,600Thrift Store 8673 3,500Pila’s Pantry 8673 3,500Smart & Final 8675 12,780Sunrise Liquor 8679 1,560


ANNUALIZED OPERATING DATA

CURRENT

Scheduled Gross Income: $1,261,260

Expense Reimbursement $341,326

Total Operating Income: $1,602,587

Vacancy (3%): ($48,078)

Gross Operating Income: $1,554,509

Total Operating Expenses: ($413,430)

Net Operating Income (NOI): $1,141,079

AMOUNT $/SF/YEAR

Property Taxes* $205,559 $2.07

Insurance: $83,884 $0.84

CAM: $51,988 $0.52

Management: $72,000 $0.72

Total Expenses: $413,430 $4.16 Annually Per SF

$0.35 Monthly Per SF

*Property Taxes are calculated as 1% of New Purchase Price Plus $5,558.70 in Assessments.

OPERATING EXPENSES


RENT ROLL

TENANT SUITE SQ FT % OF GLA BASE RENT MONTHLY PSF

ANNUAL BASE RENT

ANNUAL ESTIMATED NNN

LEASE START

LEASEEXPIRE

OPTIONS

Molen Car Wash 8601 2,064 2.08% $2,278.00 $1.10 $27,336.00 $8,375.05 4/1/2013 3/31/2023 None

Pacific Taekwondo 8601 1,600 1.61% $2,400.00 $1.50 $28,800.00 $6,492.28 12/1/2017 11/30/2022 1-Five Yr.

Rancho Feed 8603/3 ½ 3,200 3.22% $3,422.00 $1.07 $41,064.00 $12,984.57 7/1/2012 MTM None

Bicycle Store 8605 1,600 1.61% $1,456.00 $0.91 $17,472.00 $6,492.28 4/1/2012 MTM None

Happy Moments 8605 ½ 1,600 1.61% $1,867.00 $1.17 $22,404.00 $6,492.28 N/A MTM None

Brandon’s Diner 8607-9 3,200 3.22% $3,601.00 $1.13 $43,212.00 $12,984.57 7/1/2012 MTM None

Beast Moto Designs 8611 1,600 1.61% $1,872.00 $1.17 $22,464.00 $6,492.28 1/1/2015 MTM None

Music & Arts 8613-15 3,200 3.22% $4,320.00 $1.35 $51,840.00 $12,984.57 3/23/2012 3/31/2022 3-Five Yr.

Kitchen Post 8617-8619 1,300 1.31% $1,406.00 $1.08 $16,872.00 $5,274.98 1/1/2010 MTM None

ABC Shoe Repair 8621 300 0.30% $350.00 $1.17 $4,200.00 $1,217.30 10/1/2002 MTM None

Barber Shop 8623 1,000 1.01% $1,248.00 $1.25 $14,976.00 $4,057.68 1/1/2015 MTM None

Party Warehouse 8625 10,400 10.46% $7,800.00 $0.75 $93,600.00 $42,199.84 1/1/2013 MTM None

Old Town Baking 8631 & 8647 6,200 6.24% $5,918.00 $0.95 $71,016.00 $25,157.60 7/1/2006 MTM None

DP Door 8633 7,200 7.24% $6,492.00 $0.90 $77,904.00 $29,215.27 7/1/2006 MTM None

Dance Studio 8637½ 1,000 1.01% $1,082.00 $1.08 $12,984.00 $4,057.68 7/1/2012 MTM None

Mobile Fixerz 8635 1,200 1.21% $1,500.00 $1.25 $18,000.00 $4,869.21 9/1/2017 8/30/2019 None

Yeh & Yu Optometry 8637 1,800 1.81% $2,700.00 $1.50 $32,400.00 $7,303.82 12/1/2017 11/30/2025 2-Five Yr.

Hairstory Salon 8639 1,000 1.01% $1,167.00 $1.17 $14,004.00 $4,057.68 3/1/2016 2/28/19 None



ANNUAL BASE RENT


LEASE START

LEASEEXPIRE

OPTIONS

Dr. Bradle 8639 ½ 1,000 1.01% $1,190.00 $1.19 $14,280.00 $4,057.68 5/1/2014 6/30/2019 1-Five Yr.

Pet Hospital 8635-8641 4,980 5.01% $4,980.00 $1.00 $59,760.00 $20,207.23 3/1/2018 2/29/2028 4-Five Yr.

Old Town Baking Storage 8647 1,800 1.81% $0.00 $0.00 $0.00 $7,303.82 5/1/2006 MTM None

Lorrie’s Paw Spa 8649 1,440 1.45% $1,557.00 $1.08 $18,684.00 $5,843.05 7/1/2014 6/30/2018 None

Pacific Coast 8651 1,200 1.21% $1,484.00 $1.24 $17,808.00 $4,869.21 7/1/2012 MTM None

Frame Shop 8653 900 0.91% $993.00 $1.10 $11,916.00 $3,651.91 3/1/2013 MTM None

Storage 8653 ½ 900 0.91% $0.00 $0.00 $0.00 $3,651.91 N/A N/A N/A

Griffin Laundromat 8655 1,800 1.81% $2,205.00 $1.23 $26,460.00 $7,303.82 7/1/2012 6/30/2022 2-Five Yr.

Sierra Pharmacy 8659/8661 2,700 2.72% $2,916.00 $1.08 $34,992.00 $11,836.72 1/1/2028 12/31/2020 1-Three Yr.

Richard’s Fabrics 8663 1,900 1.91% $2,137.00 $1.12 $25,644.00 $8,329.54 1/1/2012 MTM None

Houston Floors 8663 ½ 1,100 1.11% $1,238.00 $1.13 $14,856.00 $4,822.37 7/1/2012 MTM None

Massage 8665 1,200 1.21% $2,100.00 $1.75 $25,200.00 $5,260.76 5/1/2018 4/30/2023 1-Five Yr.

Sunrise Tailors 8667 900 0.91% $1,013.00 $1.13 $12,156.00 $3,945.57 7/1/2012 MTM None

Donut Shop 8669 1,200 1.21% $1,575.00 $1.31 $18,900.00 $5,260.76 5/1/2018 4/30/2023 1-Five Yr.

RENT ROLL



ANNUAL BASE RENT


LEASE START

LEASEEXPIRE

OPTIONS

Pizza Royal 8671 3,600 3.62% $4,052.00 $1.13 $48,624.00 $15,782.29 7/1/2012 MTM None

Thrift Store 8673 A 3,500 3.52% $4,175.00 $1.19 $50,100.00 $15,343.89 7/1/2012 MTM None

Pila’s Pantry 8673 B 3,500 3.52% $4,135.00 $1.18 $49,620.00 $15,343.89 6/1/2017 5/31/2019 1-Two Yr.

Smart & Final 8675 12,780 12.85% $9,782.04 $0.77 $117,384.48 None 7/1/1990 6/30/2020 1-Four Yr. Eight Mo.

Sunrise Liquor 8679 1,560 1.57% $2,760.00 $1.77 $33,120.00 None 4/1/2007 3/31/2022 None

Watch Repair 8657 Kiosk $300.00 $3,600.00 None N/A MTM None

Tam’s Burgers 7344 2,000 2.01% $4,634.00 $2.32 $55,608.00 $8,767.94 7/1/2012 6/30/2022 3-Five Yr.

Recycling 8657 Kiosk $1,000.00 $12,000.00 None TBD 5 Years None

Totals 99,424 100.0% $105,105.04 $1,261,260.48 $341,326.31

RENT ROLL


BASE LINE ROAD17,431 VEHICLES PER DAY

HIGHWAY 210191,000 VEHICLES PER DAY

AERIAL MAP


PROPERTY PHOTO


PLAT MAP

APN0207-022-03 (5.64 AC)0207-022-04 (3.61 AC)


RETAILER MAP

RETAILER MAP

UPLAND HILLS COUNTRY CLUB

RED HILLS COUNTRY CLUB

TERRA VISTA


AREA OVERVIEW

RANCHO CUCAMONGARancho Cucamonga is one of Southern California’s most family oriented, safe and prosperous communities. Throughout the city’s

thirty-four year history, community leaders have consistently emphasized quality in their decisions affecting housing, open space, edu-

cation, recreation and economic development. The results of these efforts are visible. The city’s neighborhoods have grown up through

a series of planned unit developments highlighted by large lot sizes, quality construction, and ample open space. Rancho Cucamonga

homes sell for the highest prices among major Inland cities despite Southern California’s recent housing difficulties. The city’s gov-

ernment, retail, office and manufacturing centers have evolved in a similar fashion, giving the community a universally prosperous and

well-organized look and urban ambience.

INLAND EMPIREVacancy in this market declines for the eighth straight year. The Riverside-San Bernardino metro represents California’s fastest growing

economy, having added 260,000 jobs over the past five years. This sustained span of diverse employment gains has supported the

addition of nearly 200,000 residents during the same period, boosting local demand for housing and conveniently-located shopping

centers. In response, retailers have been in expansion mode while consumer spending continues to escalate. Grocers and personal

service-related companies, namely fitness centers and smaller gyms, have been notably active of late, occupying roughly 1 million

square feet of combined space in 2017. As retailers continue to scramble for space amid strong economic growth, vacancy will hold at

a cycle low level, prompting rent gains. Market conditions warrant increased development. A rise in retail completions occurs in 2018,

yet deliveries are sparse within the Inland Empire’s largest cities, including San Bernardino, Fontana and Rancho Cucamonga. Instead,

roughly half of this year’s deliveries are in Rialto, outlying Hesperia and the Coachella Valley. Overall, at least 70 percent of this year’s

new supply is preleased, heightening retailer demand for existing space.

Newport Beach40 Miles

Los Angeles36 Miles

San Diego101 Miles

DISTANCE FROM THE PROPERTY


DEMOGRAPHICS

POPULATION 1 MILE 3 MILES 5 MILES

Total Population 14,831 151,509 318,801

Median Age 34.1 35.3 34.5

Median Age (Male) 34.2 34.3 33.7

Median Age (Female) 34.2 36.3 35.3

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total Households 4,751 49,597 103,824

# Of Persons Per HH 3.1 3.1 3.1

Average HH Income $96,127 $81,808 $82,144

Average House Value $419,495 $366,839 $403,095

ETHNICITY (%) 1 MILE 3 MILES 5 MILESHispanic 33.7% 42.0% 44.2%

RACE (%)

White 69.3% 63.6% 58.6%

Black 5.0% 5.4% 7.2%

Asian 7.3% 6.2% 7.4%

Hawaiian 0.0% 0.3% 0.2%

American Indian 1.6% 1.3% 1.3%

Other 10.9% 16.5% 19.6%


STEVE LYLE760.578.9927CA DRE #[email protected]

PRESENTED BY

CALDRE 01462012

sunrize shopping center - loopnet€¦ · investment overview property overview coldwell banker...

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