1161 third avenue€¦ · ±2,800 sf office for sale or lease hird avenue chula vista, california...

±2,800 SF OFFICE FOR SALE OR LEASE

hird AvenueC h u l a V i s t a , C a l i f o r n i a 9 1 9 11

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4747 Executive Dr., Suite 800, San Diego, CA 92121 • 858.453.0505 • 858.408.3976 Fax • Lic #01991785 | www.voitco.com

KIPP GSTETTENBAUER, CCIMSenior Vice [email protected]

EXCELLENT OWNER-USER OPPORTUNITY IN CHULA VISTA

ARTHUR BLEIERSenior Vice [email protected]

KIPP GSTETTENBAUER, CCIMSenior Vice President | 858.458.3345 [email protected] | Lic. #01405420

PROPERTY FEATURES

» Terrific Owner-User Opportunity

» ±2,800 SF available for sale or lease

» Medical built-out, custom features - perfect for office use, HVAC

» Excellent Parking

» Includes twelve (12) private offices, three (3) restrooms, and one (1) conference room

» Between the 805 & 5 freeway with quick access to both

» 3rd Avenue street visible signage

ARTHUR BLEIERSenior Vice President | 858.458.3340 [email protected] | Lic. #00780529

±2,800 SF OFFICE FOR SALE OR LEASE


1161T

SALE PRICE: $795,000 ($283.93/SF)

LEASE RATE: $1.75 NNN (NNN = $0.25)


Licensed as a Real Estate Broker and Salespersons by the CA Bur of Real Estate. The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its ac-curacy, we do not guarantee it. ©2016 Voit Real Estate Services, Inc. All Rights Reserved. Real People. Real Solutions.® is a registered trademark of Voit Real Estate Services.

PROPERTY SITE PLAN


FLOOR PLAN


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OWN

PURCHASE ASSUMPTIONS Size (Square Feet) 2,800 SF Purchase Price plus improvements $795,000

START-UP COSTS 10% Down Payment $79,500

Total out of pocket costs $79,500

MONTHLY COST TO OWN PER SQ FT Mortgage payment $1.48 $4,158 Operating Exp/CAM $0.05 $140 Property Taxes $0.26 $729 Total Monthly Costs $5,027

MONTHLY OWNERSHIP BENEFITS (ESTIMATED)

TAX BENEFITS Mortgage int. deduction (5yr avg) $1,114 Operating Exp/CAM deduction $56 Property Tax deduction $292 Depreciation deduction $544 OTHER BENEFITS Rental Income $0 Average Appreciation 0.0% $0 Total Ownership Benefits $2,005

TOTAL EFFECTIVE MONTHLY COST: $3,021

LEASE

LEASE ASSUMPTIONS Size (Square Feet) 2,800 SF Lease rate per sq ft/mnth mod gross $1.75 Monthly Lease $4,900

START-UP COSTS Prepaid Rent/Security Deposit $9,800 Improvements $0 Total out of pocket costs $9,800

MONTHLY COST TO LEASE PER SQ FT Lease Payment $1.75 $4,900 Operating Exp/CAM $0.05 $140 Property Taxes $0.00 $0 Total Monthly Costs $5,040

MONTHLY OWNERSHIP BENEFITS (ESTIMATED)

TAX BENEFITS Mortgage int. deduction n/a Operating Exp/CAM deduction $56 Property Tax deduction $0 Lease deduction $1,960 OTHER BENEFITS Rental Income $0 Average Appreciation n/a Total Lease Benefits $2,016

TOTAL EFFECTIVE MONTHLY COST: $3,024

ADDITIONAL BENEFITS OF OWNERSHIPAnnual Effective Cost Difference $35Average Annual Principal Paydown $16,463Annual Wealth Creation $16,49815 Year Wealth Creation $247,473

OWN VS. LEASE ANALYSIS


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COMMERCIAL REAL ESTATE FINANCING 1161 Third Avenue, Chula Vista

SBA 7a SBA 504 Conventional Conventional90% LTV 90% LTV 80% LTV 80% LTV

PROJECT DETAILS$795,000 Total project amount: $795,000 $795,000 $795,000 $795,000

$0 Down payment: $79,500 $79,500 $159,000 $159,000

Total project amount: $795,000 Conventional 1st TD amount: $715,500 $397,500 $636,000 $636,000CDC/SBA 2nd TD amount: na $318,000

SBA 7A Today's Amort. Amort - Lender 1st TD (yrs): 25 25 30 20Loan terms: Rates Years Amort - SBA 2nd TD (yrs): na 20 na na

15 year fixed rate 4.35% 15 Bank Lender Interest Rate: 4.94% 5.40% 4.65% 4.75%20 year fixed rate 4.87% 20 CDC rate (based on pmt in yrs 1-5): na 4.58% na na25 year fixed rate 4.94% 25

SBA 504 Bank Lender Monthly Pmt: $4,158 $2,417 $3,279 $4,110 1st TD Today's Amort. CDC/SBA monthly pmt: na $2,085 na na

Loan terms: Rates Years Total payments: $4,158 $4,502 $3,279 $4,11010 year fixed 4.75% 2020 year fixed 5.33% 2025 year fixed 5.40% 25 Bank and SBA :

2nd TD - Per SBA CDC Loan documentation fee: $0 $0 $0 $010 year fixed 4.59% 20 Lender loan fee (incl .5% to SBA): $0 $1,988 $250 $25020 year fixed 4.58% 20 Third Party Fees:

CONVENTIONAL Today's Amort. SBA or SBA/CDC loan fee: $19,140 $9,337 $0 $0Loan terms: Rates Years Title Insurance/Escrow: $3,500 $3,500 $3,500 $3,500

5 year fixed rate 3.75% 30 Appraisal and review: $3,500 $3,500 $3,500 $3,50010 year fixed rate 4.65% 30 Environmental: $3,000 $3,000 $3,000 $3,00020 year fixed rate 4.75% 20 Est 1st TD refi costs, year 10: $0 $0 $0 $0

View Results to the right Total Fees: $29,140 $21,325 $10,250 $10,250

Rates and terms are subject to change. Not a commitment to lend.

INPUT PROJECT INFORMATION

Property Purchase Price:Tenant Improvements:

Estimated Loan Costs

FINANCING


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CHULA VISTA(CHOO - luh - VIHS -tuh) TRANSLATION | “BEAUTIFUL VIEW”

LARGEST CITY IN SAN DIEGO

“THE CITY OF ALLURE”

CALIFORNIA | SAN DIEGO 32°37’40’N 117°2’53’W

265 ,757 2nd

LARGEST CITY IN CALIFORNIA

AVERAGE HOUSEHOLD INCOME

14th

CALIFORNIA

CHULA VISTA

SLEEP TRAIN AMPHITHEATER

SEAWORLD AQUATICA

OLYMPIC TRAINING CENTER

SOUTHBAY REGION IS CONSIDERED

ONE OF THE

RICHEST ECONOMIC & CULTURALLY DIVERSE

ZONES IN THEUNITED STATES

MILES FROM MEXICO BORDERHEALTHCARE

TOP INDUSTRY

7.5

$67,911 71 .9AVERAGE HIGH

28 ,687BACHELOR DEGREE

LANDMARKS

POPULATION

52SQUARE

MILES

THE CITY OF CHULA VISTA | DEMOGRAPHIC STATS & FUN FACTS

DEMOGRAPHICS


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Licensed as a Real Estate Broker and Salespersons by the CA Bur of Real Estate. The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its ac-curacy, we do not guarantee it. ©2017 Voit Real Estate Services, Inc. All Rights Reserved. Real People. Real Solutions.® is a registered trademark of Voit Real Estate Services.

Chula VistaHigh SchoolChula VistaHigh School

Sharp Chula VistaMedical Center

Sharp Chula VistaMedical Center

San DiegoCountry Club

San DiegoCountry Club

Castle ParkHigh SchoolCastle ParkHigh School

MontgomeryHigh SchoolMontgomeryHigh School

HilltopHigh School

HilltopHigh SchoolChula Vista Center5

805

5

SITE



1161 third avenue€¦ · ±2,800 sf office for sale or lease hird avenue chula vista, california...

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