View Operating Memorandum

TA
NA
GE
R
AV
E
VA
IL
AV
E
5.6% CAP @ MARKET RENTS
CON
DOR
AVE
2749 Tanager Avenue
Commerce • California • 90040
For More Information,
Please Contact
PETER D. BACCI
EDWARD LEE
323.767.2022
323.767.2102
License ID# 00946253
License ID# 01379696
Team Bacci - Lee & Associates® | Executive Vice President, Principal
pbacci@lee-associates.com
Senior Vice President
elee@lee-associates.com
2749 Tanager Avenue, Commerce, CA 90040
TABLE OF CONTENTS
SE C T ION I - E X E C U T IV E OV ER
RVIEW
Executive Summary
Property Overview
S E C T I ON
N I I - P R OP
P E R T Y D E S C R IP
PTION
Parcel Map
Aerial View
S E C T IO
O N III I - FIN
N A N C IAL AN
N A LYS IS
S
Income & Expense
S EC TIO
O N IV - AR E A D E S C R I P T ION
Locator Map
Location Overview
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
Se
ection I
EXECUTIVE OVERVIEW
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
EXEECUTIVE SUMMARY
THE PROPERTY:
LIST PRICE:
Industrial Building
2749 Tanager Avenue
Commerce, California 90040
$5,125,000 ($117.58 PSF)
CURRENT
CURRENT
T OCCUPANC
CY:
CURREN
NT GROSS IN
NCOME
ME:
CURREN
NT EXPENS
SES:
CURRE
ENT CAP RA
ATE:
AVERA
AGE CAP RATE:
100%
$232,560
$51,254
3.5%
4.7%
RENTAL SCHEDULE/INCREASES
YEAR 2:
$19,380.00
YEAR 3:
$19,767.60
YEAR 4:
$20,360.62
YEAR
AR 5:
$20,767,84
AVERAGE RENT:
$20,069.00/Mo.
PRO FORMA
PRO FORMA OC
CCUP
PANCY:
PRO FORMA GR
ROSS INCOM
ME:
EXPENSES:
PRO FORMA CAP
P RAT
TE:
100%
$339,955
$51,254
5.6%
PROPERTY OVERVIEW
YEAR CO
OMPLETED:
BUILDING
G SIZE:
LAND AREA
A:
PARKING:
ZONING:
DOCK HIGH:
OFFICE SIZE:
RESTROOMS:
1959
43,584 net rentable square feet
66,294 square feet
45 parking spaces
CMM2
14
4,800 square feet
2
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
PROPERTY OVERVIEW
2749 Tanager Avenue is a 43,584 industrial building located in Commerce, CA. The subject property is a single-story building on 66,294SF
of land. Easily access the property through Tanager Avenue & Condor Avenue. Subject property offers surface parking for tenants and
visitors. The property offers immediate access to the Santa Ana (5) Freeway (Right off Garfield Avenue exit) within minutes of the subject
property. Subject property is also ideally located in close proximity to Citadel Shopping Outlet and the Commerce Casino.
PROPERTY ATTRIBUTES
•
Investment Opportunity
•
4 Year Lease in Place
•
Outstanding Manufacturing or Distribution Facility
•
Well Distributed Power
•
Dock High Loading; One Ramp
•
Executive Offices
•
Excellent Commerce Location
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
Se
ection II
PROPERTY DESCRIPTION
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
PA
ARC
CEL MA
AP
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
TA
NA
GE
R
AV
E
VA
IL
AV
E
AERIAL VIEW
CON
DOR
AVE
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
Se
ection III
FINANCIAL ANALYSIS
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
INCOME & EXPENSE
VALUATION
PRO FORMA VALUATION
Prric
ice: $5,125,000
Prric
ice/SF
F: $117.58
Square Fee
et:
Currren
entt Cap
p Ra
Rate
te:
Av
verage
e Cap Ra
Rate Over 4 Ye
Years @ 20,069/Mo.:
ANNUAL INCOME
Base
e Ren
ent
CA
AM Reimbu
ursement
Efffecttive Grross Reve
enue
43,584 SF
3.5% Pro
o Fo
F rma Cap Rate
e:
5.6%
4.7%
2016
$19,380/Mo.
$28,329.60/Mo.
0
0
$232,560
$339,955
$46,254
$46,254
$5,000
$5,000
$51,254
$51,254
$181,306
$288,701
3.5%
5.6%
($0.445 PSF)
($0.65 PSF)
ANNUAL EXPENSES
RE Taxxes
e & Ass.
rancce
Insura
Expe
ens
n es
Total Ex
UNLEVERAGED TOTALS
Nett Op
O erating Inco
ome
m
Cap Rate
Ca
e
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
Se
ection IV
AREA DESCRIPTION
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
LOCA
ATOR MAP
5
2749
tanager
avenue
5
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue, Commerce, CA 90040
LOCATION OVERVIEW
The City of Commerce is a city located in southeast Los Angeles County, California, United States. The population was 12,823 at the 2010
census, up from 12,568 at the 2000 census. It is bordered by Vernon on the west, Los Angeles on the northwest, East Los Angeles on
the north, Montebello on the east, Downey and Bell Gardens on the south, and Maywood on the southwest. The Los Angeles River forms
part of its southwestern boundary, and the Rio Hondo separates it from Downey. Commerce is served by the Long Beach and Santa Ana
freeways, as well as the Metrolink commuter rail service at the Commerce station.
LOCATION ATTRIBUTES
•
•
•
•
Located Conveniently Near The Santa Ana (5) Freeway
Located Near The Intersection Of Washington Blvd & Vail Avenue
Eight Miles East Of Downtown Los Angeles
Excellent Ingress And Egress
Lee & Associates® - Commercial Real Estate Services
2749 Tanager Avenue C o m m e r c e • C a l i f o r n i a • 9 0 0 4 0
For More information Please Contact:
PETER D. BACCI
EDWARD LEE
323.767.2022
323.767.2102
Team Bacci - Lee & Associates® | Executive Vice President, Principal
pbacci@lee-associates.com
License ID# 00946253
Senior Vice President
elee@lee-associates.com
License ID# 01379696
LEE & ASSOCIATES® - COMMERCE INC.
www.le
e e-a
a sso
soc
c i att es
s .com
500 Citadel Drive, Suite 140
Commerce, California 90040
 • 323.720.8484
 • 323.720.8474
LIC. NO. 01125429