11699 san vicente boulevard business + real estate · 2020. 5. 20. · boulevard and barrington...

11699 San Vicente Boulevard

For Sale | Service Station | Business & Land For Sale in Prime Brentwood

Business + Real Estate

Los Angeles, CA 9004911699 San Vicente Boulevard

T.C. MACKER, CCIMPresident

[email protected]

DRE # 01232033

JENNIFER MOSCOSOAssociate

[email protected]

DRE # 02044716

TIMOTHY K. HAVESPresident

[email protected]

DRE # 01233336

11699 San Vicente Blvd. |Brentwood 2

Exclusive Listing By:

©2020 WESTMAC Commercial Brokerage Company. All Rights Reserved. WESTMAC Commercial Brokerage fully supports the principles of the Equal Opportunity Act. WESTMAC Commercial Brokerage Company and the WESTMAC Commercial Brokerage Company logo are registered service marks owned by WESTMAC Commercial Brokerage Company and may not be reproduced by any means or in any form whatsoever without written permission.

WESTMAC COMMERCIAL BROKERAGE COMPANY1515 Sepulveda Boulevard

Los Angeles, CA 90025310.478.7700 | www.westmac.com

Company DRE# 01096973

PETROLEUM REALTY GROUP14 Monarch Bay Plaza, # 447Monarch Beach, CA 92629

949.636.3961 | www.petroleumrealtygroup.comCompany DRE# 01261345


OFFERING MEMORANDUM 3


WESTMAC Commercial Brokerage Company and Petroleum Realty Group are pleased to present the rare opportunity to purchase 11699 San Vicente Boulevard, a service station situated on a triangular lot at the northeast corner of San Vicente Boulevard and Barrington Avenue in Brentwood Village. The offering includes the service station, business currently operating as Conserv Fuel, along with the real estate.

11699 San Vicente Boulevard is comprised of twelve (12) fuel hoses under two (2) canopies and a ± 99 square foot payment booth and limited item C-Store, which are situated on 0.16 AC of land (± 7,098 SF per parcel map), zoned LAC1.5-1VL with a CUP for gas station use.

The owner of the subject property currently operates the fuel facility. The station has two (2) 20,000 gallon double walled fiberglass tanks that were installed in 2006. The tanks are split to carry four products, diesel, E-85, 91 and 87.

11699 San Vicente Boulevard is a rare opportunity to purchase a very profitable gas business at an easily accessible bustling 3-way intersection, with an additional opportunity to expand and add large C-Store on the site. The property comes with a clean phase one with attached "No Further Action" letters, allowing for potential future development opportunity on the land. The zoning allows for other uses including multifamily, retail and office (buyer to verify), all of which are in significant demand in this location.

The Offering:Twelve Pump Gas Station with Two 20,000-Gallon Tanks at

Bustling 3-way Intersection in Brentwood Village


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ADDRESS11699 San Vicente Blvd., Los Angeles, CA 90049

APN4401-018-016

BUILDING SIZE± 99 SF

LAND SIZE0.16 AC(7,092 SF per tax map)

BUILT1973

PROPERTY TYPEService Station

ZONINGLAC1.5-1VL(CUP for gas station use)

# OF FUEL HOSESTwelve (12)

# OF BUILDINGS One (1) small pay booth

FRONTAGE110' Gorham96' Barrington46' San Vicente

CURB CUTSFour (4)

PROPERTY INFORMATION

OWNERSHIP Fee Simple;includes business

TOTAL GALLONS 1,978,270 (2019)

TOTAL SALES $7,906,904 (2019)

GROSS PROFIT $1,509,280 (2019)

ASKING PRICE $9,000,000

PRICE/SF $1,269/SF on land

Offering Summary

Property Profile

PARCEL MAP

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CANOPY 2

CANOPY 1C-STORE

Offering Summary

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S. BARRINGTON AVE

GORHAM AVE

SAN VICENTE BLVD


C-Store


ESTABLISHED IN 1973

The station has two (2) 20,000 gallon double walled fiberglass tanks installed in 2006. The tanks are split to carry four products, diesel, E-85, 91 and 87.

The station does extremely well selling approximately 5,000 gallons a day of unbranded petroleum and diesel product. There is a small Kiosk that caters for convenience items. With this sale there is no liability of an existing fuel contract, a new buyer can continue as an independent operator or sign a new fuel agreement with a branded supplier which of course will have a substantial incentive associated with it. Details of available suppliers upon request.

OPERATIONS SUMMARY

4 CURB CUTSFOR EASY ACCESS

+ $7.9MM GROSS INCOME

(2019)

ROOM TO ADD A

CONVENIENCE STORE

± 5,000/DAYGALLONS SOLD

12 FUEL HOSES

2 - 20,000 GALLONFUEL TANKS

Business Profile11699 San Vicente BLVD.

C-Store

FRONT

REAR


BUSINESS FINANCIALS

FUEL SALES GALLONS SOLD SALES COST OF GOODS GROSS PROFIT MARGIN

REGULAR 1,050,261 $3,811,580 $3,088,860 $722,720 0.688MIDGRADE 227,766 $857,577 $694,311 $163,266 0.717PREMIUM 529,960 $2,048,355 $1,651,413 $396,942 0.749DIESEL 35,190 $137,348 $106,349 $30,999 0.881E85 135,092 $375,009 $284,671 $90,338 0.669

TOTAL FUEL 1,978,269 $7,229,869 $5,825,604 $1,404,265 0.710

C-STORE $677,035 $572,020 $105,015

TOTAL $7,906,904 $6,397,624 $1,509,280

2019 GROSS PROFITSFuel Sales

Other Sales


SALES COMPARABLES (real estate only)

1006-1010 BROXTON AVE 11723-11733 BARRINGTON CT 1010-1060 GLENDON AVE 136-142 S BARRINGTON PL

SITE ADDRESS TYPE SALE PRICE SALE DATE BLDG SF $/PSF LAND SF LAND $/PSF

1006-1010 Broxton Ave Retail $13,500,000 10/21/2019 9,852 $1,370 10,890 $1,240

11723-11733 Barrington Ct Retail $11,074,000 8/5/2019 9,427 $1,175 8,276 $1,338

1010-1060 Glendon Ave (Part of Multi-Property Sale) Retail $6,695,524 6/7/2019 6,919 $968 19,166 $349

136-142 S Barrington Pl Retail $5,500,000 12/12/2018 4,413 $1,246 5,227 $1,052

Few properties have traded in the area in the past few years. There is high demand and the properties in this area have high value. In the past 2 years, only 2 sales have been reported in Brentwood, and 2 in neighboring Westwood.


SALES COMPARABLES (real estate only)

SPECIFIC PLAN San Vicente Scenic CorridorZONING C1.5-1VLHEIGHT 45 FtSTORIES 3FAR 1.5TOC Not Eligible

DEVELOPMENT POTENTIAL

Buyer to verify all information independently

Gross Buildable10,188 SF

The finding and recommendations in this report are based upon public information available. We believe that this report provides factual review of current zoning designation and development regulations for the Site. However, due to discretionary methods used by the City of Los Angeles for denoting zones and previous zoning actions, it is possible that this information may not reflect future City actions related to the subject site. Also, regulations and procedures for the planning and development process in the City of Los Angeles are frequently changed or updated. For these reasons, Seller, Petroleum Realty Group, nor WESTMAC Commercial Brokerage Company cannot guarantee the accuracy of this report and cannot guarantee that there are no errors or omissions in this report.


PROPERTY HIGHLIGHTSVALUE ADD/DEVELOPMENT OPPORTUNITY11699 San Vicente Blvd. is enhanced with a CUP for gas station use, Currently, there are two canopies with a total of twelve fuel stations and a small payment booth, with room to add a convenience store which gives buyers the opportunity of increasing their rent potential. The property also has a clean phase one, with the potential for other uses including multifamily, retail and office (buyer to verify).

POPULAR RETAIL COREA popular area for dining and coffee for local residents is located in Brentwood Village at the intersection of Barrington and Sunset. More than a dozen restaurants and coffee shops are located within a two-block stretch offering a wide variety of cuisine. 11699 San Vicente is located in prime Brentwood Village. Brentwood Village has a vibrant retail core that includes tenants such as: Whole Foods, and many other high quality retailers within a 1-mile radius of the property.

AFFLUENT DEMOGRAPHICSLocated between the beautiful Santa Monica mountains and sandy shorelines, amongst a high-powered commercial district, and some of the city's top-rated restaurants lies Brentwood, which in local parlance, is known as one of the "Three B's", along with Beverly Hills and Bel Air due to it's affluent residence and neighborhoods. 11699 San Vicente is located in prime Brentwood, at one of the area's busiest intersections, where business caters to the many high-earning demographic that reside in the surrounding luxury neighborhoods.

HIGH TRAFFIC LOCATIONLocated at the 3-way signalized intersection of Barrington, Gorham and San Vicente, 11699 San Vicente Blvd. sees a daily traffic count exceeding ±33,000 CPD. Coupled with the convenient ingress and egress complemented by four (4) curb cuts, this easily accessible location makes the property a patron favorite.

1611699 San Vicente Blvd. |Brentwood


Brentwood is a neighborhood in the Westside of Los Angeles, California. The 2000 U.S. census counted 31,344 residents in the 15.22-square-mile Brentwood neighborhood—or 2,059 people per square mile, among the lowest population densities for the city and the county. In 2008, the city estimated that the population had increased to 33,312. In 2000 the median age for residents was 35, which was old for city and county neighborhoods. The percentages of residents aged 50 and older were among the county's highest.

Brentwood is located at the base of the Santa Monica Mountains, bounded by the San Diego Freeway on the east, Wilshire Boulevard on the south, the Santa Monica city limits on the southwest, the border of Topanga State Park on the west and Mulholland Drive along the ridgeline of the mountains on the north.

A popular area for dining and coffee for local residents is located in Brentwood Village at the intersection of Barrington and Sunset. More than a dozen restaurants and coffee shops are located within a two-block stretch offering a wide variety of cuisine.

With housing ranging from luxury hillside homes to both luxury and affordable housing multi-family complexes, Brentwood boasts a wide range of great places to live.

BRENTWOODLuxury shopping, dining and lifestyle

Area Summary


BRENTWOOD:

ZILLOW HOME VALUE INDEX

Med. Home Value $2,761,607

ZILLOW RENT INDEX

Med. Rent Price $5,548

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POPULATION 1-MILE 3-MILE 5-MILE

Population (2020 Estimate) 39,175 231,864 517,079

Population (2025 Forecast) 39,897 233,713 520,348

BUSINESS 1-MILE 3-MILE 5-MILE

Total Businesses 3,759 23,912 47,805

# of Employees 27,704 303,706 495,038

Total Consumer Spending $594,914 $3,183,323 $7,202,612

HOUSEHOLD 1-MILE 3-MILE 5-MILE

# HH (2020 Estimate) 20,181 104,974 236,238

Med. HH Income (2020) $98,650 $97,768 $97,676

Avg. HH Income (2020) $128,969 $130,012 $131,588

DISTANCE FROM 11699 SAN VICENTE

1-3-5 MILEDemographics

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Location Map


This offering has been prepared solely for informational purposes. While the information contained herein is from sources deemed reliable, it has not been independently verified by WESTMAC Commercial Brokerage Company, Petroleum Realty Group or by the Seller.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

DISCLAIMER

Los Angeles, CA 9004911699 San Vicente Boulevard

T.C. MACKER, CCIMPresident

[email protected]

DRE # 01232033

TIMOTHY K. HAVESPresident

[email protected]

DRE # 01233336

Contact: JENNIFER MOSCOSOAssociate

[email protected]

DRE # 02044716

11699 san vicente boulevard business + real estate · 2020. 5. 20. · boulevard and barrington...

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