3487-95 UNIVERSITY AVE SAN DIEGO, CA 92104 LISTED BY: Patsy Ma, MBA, CCIM, CRX, CLS President DRE# 00980137 patsyma@bpinternational.net Francisco Williams, CCIM Vice President Investment Sales DRE #01979442 fwilliams@bpinternational.net www.bpinternational.net Tel: 626-821-3448 Fax: 626-821-9099 650 W. Duarte Rd., #1088 Arcadia, CA 91007
TABLE OF CONTENTS Executive Summary Property Details Financial Analysis San Diego Overview 3487-95 University Ave San Diego, CA 92104
EXECUTIVE SUMMARY 3487-95 University Ave San Diego, CA 92104
INVESTMENT SUMMARY OFFERING INTRODUCTION BP International, as an exclusive broker, is pleased to offer PRICE: YEAR BUILT: TENANTS: RSF: PRICE/RSF: LOT SIZE: FLOORS: CAP RATE: MARKET CAP RATE: $1,300,000 1925 5 5,100 $254.90 5,465 SF 1 4.54% 4.54% INVESTMENT HIGHLIGHTS Strong Tenancy: Property is fully occupied by long-tenured tenants with good credit history and significant capital improvements. Excellent Visibility: Prominent medium-sized signage for every tenant provides for excellent visibility. Low Operating Expense: Annual total operating expenses are at less than 35% of the gross operating income. Strategic Location: Located along University Avenue, a traffic count of over 6,000 cars offers the promising potential to commercial establishments. Increasing Population: Developments have been rolling up in the adjacent North Park and City Heights, resulting in a massive population growth and increasing demand. Since 2010, North Park alone has increased its population by 3.2%, while City Heights has expanded by 1.1%. Diverse Business Environment: Property is conveniently surrounded by an assortment of business activities such as dining, arts, entertainment and shopping. Established businesses like Starbucks, CVS Pharmacy, Walgreens, The UPS Store, Subway and Filberto s lie in the immediate vicinity.
PROPERTY LOCATION MAP 3487-95 University Ave San Diego, CA 92104 3487-95 University Ave San Diego, CA
PROPERTY AERIAL 3487-95 University Ave San Diego, CA 92104
PROPERTY DETAILS 3487-95 University Ave San Diego, CA 92104
SITE DETAILS LOCATION: YEAR BUILT: LAND AREA: ZONING: UTILITIES AND SERVICES: "VISIBILITY AND SIGNAGE:" 1925 5,465 SF Commercial All basics utilities are available, including electricity, telephone, water sewer and gas The Property boasts excellent visibility and signage with a prominent pylon sign fronting University Ave.
FINANCIAL ANALYSIS 3487-95 University Ave San Diego, CA 92104
PRO FORMA SUMMARY ITEM ACTUAL Price Cap Rate: Price Per Foot: Leased: 5,100 sf Available: 0 Total SF: INCOME "Potential Rental Income (Scheduled\Adjusted):" $1,300,000 4.54% $254.90 100% 5,100 ACTUAL $84,264.00 OPERATING EXPENSE Gross Scheduled Income Gross Operating Income Expenses Management Fees Insurance Utility - Water Taxes - Real Estate Total Operating Expense: Net Operating Income Expenses Per RSF ANNUAL $84,264.00 $84,264.00 $25,208.94 $5,838.00 $1,858.00 $1,262.94 $16,250.00 $25,208.94 $59,055.06 $4.94 "Effective Rental Income: Occupancy " $84,264.00 Less Operating Expense: -$25,209.00 Net Operating Income: $59,055.00
LEASE COMPS SUMMARY LEASE COMPS REPORT Property Name - Address SF Leased Floor Sign Date Type Rent 3093-3095 El Cajon Blvd 2900-2998 North Park Way 3809-3813 Ray St 4152-4156 30th St 3363 EI Cajon Blvd 814 3,196 110 4,000 1,506 1st 1st 1st 1st 1st 3/19/2018 6/27/2017 6/24/2017 3/3/2017 1/24/2017 New New New New New $22.20/nnn $42.00/nnn $51.84/mg $42.00/nnn $30.00/nnn
SALES COMPS PROPERTY NAME SALES DATE /ADDRESS 3001 El Cajon Blvd San Diego, CA 92104 3231 University Ave San Diego, CA 92104 3824 Ray St San Diego, CA 92104 3433 University Ave San Diego, CA 92104 2935 El Cajon Blvd San Diego, CA 92104 SALES PRICE PRICE/SF BUILDING BUILDING SIZE July 2016 $4,801,720 $616 7,795 SF Oct. 2016 $5,696,808 $403 14,136 SF Dec. 2017 $4,081,935 $363 11,425 SF Jan. 2018 $2,800,000 $350 10,200 SF May 2018 $3,927,000 $385 8,000 SF
SAN DIEGO OVERVIEW 3487-95 University Ave San Diego, CA 92104
SAN DIEGO OVERVIEW SAN DIEGO HIGHLIGHTS Source: CoStar DEMOGRAPHICS Population Metro 3M+ 3,211,252 Median Age 35.1 years old % Population Age: 18-34 27.3 percent % of Population Born Outside of US 23.7 percent Median Household Income $61.4 thousand ECONOMIC Unemployment Rate 5.2 percent Gross Domestic Product $197.9 billion Export Value $17.9 billion Patents per 1,000 Workers 2.3 patents Patents per 1,000 Workers 2.3 patents EDUCATION % Population w/ Bachelor s Degree or Higher 34.6 percent % Population w/ Advanced Degree or Higher 13.4 percent % Population w/ Ph.D or Higher 1.9 percent % College Grads w/ Science or Engineering Majors 39.9 percent % of Population MultiLingual English-Speaking Residents 21.8 percent QUALITY OF LIFE Per Capita Income $49.7 thousand Foreclosure Rate 1.92 per 10k homes Median Home Price $517.8 thousand Mean Travel Time to Work 24.9 minutes Sunshine Hours 3,055 hours
SAN DIEGO OVERVIEW GEOGRAPHY METRO The San Diego metropolitan area consists of 17 cities with a population of 3.2 million people. Under Los Angeles, San Diego County is the 2nd most populated county in California and the 5th most populous city in the United States. From north to south, San Diego County extends from the southern borders of Orange County and Riverside County to the Mexico United States border and Baja California. From west to east, San Diego County stretches from the Pacific Ocean to its boundary with Imperial County. LARGEST CITIES, 2010 CENSUS The County of San Diego is a combination of communities, both urban and rural. San Diego County is 65 miles wide from north to south and 86 miles wide from east to west, bordering the Mexico country line. From opulent beach front views, soaring mountains, to the desert plains, San Diego County is a prime location in Southern California. CITY San Diego Chula Vista Oceanside Escondido Carlsbad El Cajon Vista San Marcos Encinitas National City La Mesa POPULATION 1,307,402 243,916 183,095 143,911 105,328 99,478 93,834 83,781 59,518 58,582 57,065
SAN DIEGO OVERVIEW INFRASTRUCTURE San Diego County is a centralized hub for eight (8) airports, four (4) major freeways, rail, and The Port of San Diego. The county structure is designed in a multi-functional course, making commuting accessible from every direction. Interstates 5,15, and 805 (north to south) Interstate 8 (east to west) San Diego County conveniently offers a range of commuter trains such as the North County Transit Direct featuring the Coaster and Sprinter along with commuter vehicles. Local public transportation such as the MTS Trolley is also available. Located in the San Diego Bay, The Port of San Diego is utilized as an economic engine providing vitality and community benefit through a balanced approach to the maritime industry, tourism, water, and land recreation, environmental stewardship and public safety Border Crossings to Mexico San Ysidro Border Crossing Otay Mesa Border Crossing Tecate Border Crossing Railroads AMTRAK (Pacific Surfliner) Metrolink The Coaster San Diego and Arizona Eastern Railway San Diego and Imperial Valley Railroad Light Rail and Local Transit San Diego Trolley San Diego Metropolitan Transit System Sprinter North County Transit District The Port of San Diego Embarcadero (San Diego) Airports Lindbergh Field (San Diego International Airport)(SAN) Montgomery Field (MYF) McClellan-Palomer Airport (CLD or CRQ) aka Palomar Airport or Carlsbad Airport Gillespie Field (SEE) in El Cajon Agua Caliente Airport
DEMOGRAPHIC Population Characteristic Ages 0-4 Ages 5-9 Ages 10-14 Ages 15-19 Ages 20-24 Ages 25-29 Ages 30-34 Ages 35-39 Ages 40-44 Ages 45-49 Ages 50-54 Ages 55-59 Ages 60-64 Ages 65-69 Ages 70-74 Ages 75-79 Ages 80-84 1 Mile 4,209 4,654 3,797 3,492 3,739 4,078 4,404 4,792 5,019 4,797 4,189 3,387 2,514 1,690 1,007 529 260 3 Mile 17,034 18,525 15,232 13,931 15,128 17,128 19,494 22,160 23,487 22,639 19,861 16,422 12,732 9,277 6,378 4,225 2,613 5 Mile 37,985 42,078 35,472 33,131 36,743 41,368 45,128 48,143 49,115 47,472 42,284 35,847 28,616 21,609 15,902 11,479 7,956 Household Income Median Household Income < $10000 $10000-$14999 $15000-$19999 $20000-$24999 $25000-$29999 $30000-$34999 $35000-$39999 $40000-$44999 $45000-$49999 $50000-$60000 $60000-$74000 $75000-$99999 $100000-$124999 $125000-$149999 $150000-$199999 >$200,000 1 Mile $40,326 2,071 2,032 1,503 1,920 1,445 1,341 1,378 1,513 1,091 1,857 2,026 2,266 1,201 550 329 261 3 Mile $47,191 7,950 7,891 6,561 6,748 5,912 6,116 6,204 6,086 4,761 9,252 10,693 12,768 6,767 3,773 3,108 3,133 5 Mile $49,064 15,990 16,001 13,202 13,424 12,292 11,753 11,693 11,419 10,232 19,163 20,837 27,009 15,499 8,418 8,085 7,323 Race Characteristic Non Hispanic White Population Black Population Am In/AK Nat Source: CoStar 1 Mile 26,249 5,091 103 3 Mile 140,329 21,385 454 5 Mile 322,014 51,369 1,333 Characteristic Housing Housing Units Occupied Housing Units Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units 1 Mile 24,999 23,507 4,881 18,626 1,492 3 Mile 119,532 111,881 33,860 78,021 7,651
EXCLUSIVELY LISTED Patsy Ma, MBA, CCIM, CRX, CLS DRE# 00980137 patsyma@bpinternational.net Tel: 626-821-3448 Fax: 626-821-9099 Francisco Williams, CCIM DRE #01979442 fwilliams@bpinternational.net 650 W. Duarte Rd., #1088, Arcadia, CA 91007