Imperial Beach Retail

Imperial Beach Retail
FOR SALE
$1,340,000
F R E E S TA N D I N G N N N I N V E S T M E N T O P P O R T U N I T Y
1525 Palm Ave, Imperial Beach, CA 92154
Exclusively listed by
Marc Karren
CA LIC #01912607
760-803-5363
marc@locationmatters.com
FOR SALE
THE OFFERING – Investment Summary | 1525 Palm Ave, Imperial Beach, CA 92154
OFFERING PRICE
PRICE PER SF
TERM REMAINING
$1,340,000
$558
3 Years
CAP RATE
LAND PRICE PER SF
OPTIONS
5.00% (YR 1)
$69
(2) 5-Year Options
TOTAL LAND AREA
BASE RENT INCREASES
0.44 Acres
15% Every 5 Years
TOTAL LAND FOOTAGE
YEAR BUILT
19,211 SF
1990
5.77% (YR 4) Option
NET OPERATING INCOME
$67,200 (YR 1)
$77,280 (YR 4) Option
TOTAL BUILDING AREA
OWNERSHIP
2,400 SF
Fee Simple
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
2
THE OFFERING – Investment Highlights | 1525 Palm Ave, Imperial Beach, CA 92154
SITE
FOR SALE
Palm Ave
––
Freestanding Retail Pad Investment Offering
––
Single Tenant, Absolute NNN Lease
––
Corporate Lease with nationally established tenant with
over 1,000 locations nationwide
––
Neighboring pads are El Pollo Loco & Rally’s restaurants
––
25 off-street parking spaces
––
Outparcel to Bay City Plaza, 34,500 SF retail center
––
1/2 mile west of Interstate 5 on Palm Avenue
––
Palm Ave is a busy six lane thoroughfare w/ 43,100 cars
per day
––
3+ years remaining on the lease, plus options
––
Substantial Tenant Improvements
––
Flexible property characteristics for future drive through
opportunity
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
3
FOR SALE
THE PROPERTY – Property Overview | 1525 Palm Ave, Imperial Beach, CA 92154
ADDRESS
SQUARE FEET
1525 Palm Ave,
2,400 Rentable Square Feet
Imperial Beach, CA 92154
PARKING
PARCEL
25 On-Site Parking Spots
APN: 627-030-10
TRAFFIC COUNTS
ZONING
43,100 + Vehicles per day
CC-4-2
ADAPTABILITY
LAND AREA
Future Drive Through
0.44 Acre/19,122 SF
Opportunity
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
4
FOR SALE
THE PROPERTY – Area Map | 1525 Palm Ave, Imperial Beach, CA 92154
Palm Ave
SITE
El Pollo Loco
Palm Ave
Rally’s
Bay City
Plaza
16th St
Bay City Plaza
location
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
5
FOR SALE
COMPETITIVE PROPERTY SET | 1525 Palm Ave, Imperial Beach, CA 92154
1535 Palm Avenue,
San Diego, CA 92154
El Pollo Loco
1545 & 1531 Palm Ave,
San Diego, CA 92154
Sale Date: 07/17/2014
Sale Price: $1,900,000 ($833.33/SF)
Building Size: 2,280 SF
Lot Size: 0.50 Acres
22 Surface Spaces are available;
Ratio of 6.00/1,000 SF
3295 Palm Avenue,
San Diego, CA 92154
Sale Price: $1,675,000 ($2,427.54/SF)
Building Size: 690 SF
Rally’s Hamburgers
Lot Size: 0.44 Acres
Sale Date: 05/31/2014
23 Surface Spaces are available
201 Palm Ave,
Imperial Beach, CA 91932
Sale Date: 10/30/2015
Sale Price: $2,000,000 ($444.44/SF)
Sale Date: 11/14/2014
Sale Price: $775,000 ($534.48/SF)
Building Size: 4,500 SF
Listing Price: $795,000
Lot Size: 0.52 Acres
Building Size: 1,450 SF
Lot Size: 0.12 Acres
14 free Surface Spaces are available
3 free Surface Spaces are available;
Ratio of 2.08/1,000 SF
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
6
FOR SALE
THE TENANT – Tenant Summary | 1525 Palm Ave, Imperial Beach, CA 92154
Fast Auto & Payday Loans is the leading provider of short-term
consumer loans since 1994. Over 1,000 locations nationwide
with over 100 in California.
TENANT TRADE NAME
OPTIONS
Fast Auto & Payday Loans,
Two (2) five (5) year options
INC
BASE RENT INCREASE
OWNERSHIP
15% every 5 years
Private Corporation
ABSOLUTE NNN LEASE
LEASE TERM REMAINING
Zero Landlord responsibilities
3 years
TENANT IMPROVEMENTS
LEASE EXPIRATION
$114,000 including new roof
May 31, 2019
The information contained herein has been given to us by the owner of the property or other sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase.
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
7
FOR SALE
THE MARKET – Surrounding Retail & Restaurants | 1525 Palm Ave, Imperial Beach, CA 92154
75
SITE
Palm Ave
Palm Ave
19th St
Breakwater Shopping
Center (Coming Soon)
13th St
Imperial Beach Sign
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
8
FOR SALE
THE MARKET – Demographics | 1525 Palm Ave, Imperial Beach, CA 92154
5 MILES
1 MILE
2010
2015
2020
Population
16,919
17,051
17,515
Households
6,316 6,372
6,555
Avg Household Income
N/A
$66,246
$75,014
3 MILES
2010
2015
2020
1 MILE
Population
58,987
60,118
62,301
location
Households
18,617
18,920
19,597
Avg Household Income
N/A
$63,249
$71,498
5 MILES
2010
2015
2020
Population
206,688
212,530
221,376
Households
63,200
64,617
67,218
Avg Household Income
N/A
$56,780
$64,192
3 MILES
2010 Jimmy Durante Blvd. Suite 205, Del Mar, CA 92014
/
(858) 792-5521
/
LocationMatters.com
9