520 el camino real · 2019-07-09 · 4 section 1 property information 7 section 2 location...

Kevin FlahertySenior Investment Advisor

O: 415.704.8813M: 650.743.3213

[email protected] #01855674

Tina QiInvestment Advisor

O: 415.463.1340M: 510.329.2963


Derrick ReedyInvestment Advisor

O: 415.529.6468M: 805.215.7127


Max RattnerInvestment Advisor

O: 415.230.0999M: 650.248.4342


520 El Camino RealSan Carlos, CA 94070

OFFERINGMEMORANDUM

4 Section 1Property Information

7 Section 2Location Information

13 Section 3Financial Analysis

15 Section 4Demographics

Table of Contents

Table Of Contents


SALE PRICE: $2,170,000

PRICE/SF: $1,235

PROFORMA CAP RATE: 4.38%

PROFORMA NOI: $95,141

LOT SIZE: 8,712 SF

TOTAL CONDO SF: 1,757 SF

Two ground level retail condos are for lease and/or sale. Great foot traffic location with a walk score of 90, perfectfor an owner/user and also great as an investment property with strong lease rates in the area. The location isideal for retail or office, across El Camino Real from the San Carlos Cal-Train Station/Transit Center.

Property Overview

Property Highlights• New construction to be delivered Fall 2019

• Suite 101 - 973 s.f. - For Sale - $1,200,000; For Lease - $5.00/s.f. NNN

• Suite 102 - 784 s.f. - For Sale - $970,000; For Lease - $5.00/s.f. NNN

• Suites can be purchased together but must be leased as separate businesses.

• Easy access to US-101

• Downtown San Carlos is only blocks away

• Floor to ceiling glass storefront

• Outside seating possible

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Executive Summary


Section 1

PROPERTYINFORMATION1

These two ground level retail condos are for lease/sale. Great foot traffic location with a walk scoreof 90, perfect for an owner/user and also great as an investment property with strong lease rates inthe area. The location is ideal for retail or office, across El Camino Real from the San CarlosCal-Train Station/Transit Center.

Property Overview

The location is in the Mixed-Use Downtown (MU-D) zoning district. This district is intended tomaintain the pedestrian-oriented environment around the Downtown Core and connect surroundingdistricts. Physical form is regulated to provide shopfront buildings that frame the street and supportpedestrian- and transit-oriented development that encourages pedestrian activity and supportsmulti-modal transportation. This is a great location for retail businesses of all kinds and offices whichbenefit from walk-in clients. There are 202 brand new apartment homes recently finished or nearingcompletion located at the Trestle Apartments by Prometheus at the San Mateo Transit Center.Another development project is around the corner, the Residences at Wheeler Plaza by KB Homeson the corner of San Carlos Avenue and Walnut Street, which was approved in 2015. The projectis now nearing completion. It consists of 109 residential condominiums and 10,000 square feet ofretail, and the condo sales office will be opening late August/early September.

Location Overview

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Property Description


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Additional Photos


Section 2

LOCATIONINFORMATION2

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Location Maps


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Aerial Map


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Development Map


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Retailer Map


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Floor Plan


Section 3

FINANCIALANALYSIS3

Investment Overview

Price $2,170,000Number of Units 2Price per Unit $1,085,000Approximate Square Footage 1,757Price per Square Footage $1,235GRM 21.67CAP Rate 4.38%

Operating Data

Gross Scheduled Income $100,149Vacancy Cost (5.0%) - $5,007Gross Operating Income $95,141Operating Expenses - -Net Operating Income $95,141Debt Service - $76,005Pre-Tax Cash Flow $19,136Cash-on-Cash Return % (yr 1) 2.52%Principal Reduction (yr 1) + $27,068Total Return (yr 1) $46,205Return on Investment % 6.08%

Financing Data

Loan Amount $1,410,500LTV 65.00%Interest Rate 3.500%Debt Service $76,005Debt Service Monthly $6,333Amortization 30

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Financial Summary


Section 4

DEMOGRAPHICS

4

1 Mile 2 Miles 3 Miles

Total Households 6,687 22,268 48,902

Total Persons Per Hh 2.4 2.5 2.5

Average Hh Income $116,798 $128,742 $128,295

Average House Value $941,255 $913,068 $903,975

1 Mile 2 Miles 3 Miles

Total Population 15,770 55,228 124,433

Median Age 39.8 40.5 40.0

Median Age (Male) 39.1 39.9 39.7

Median Age (Female) 40.6 41.2 40.4

* Demographic data derived from 2010 US Census

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Demographics Report


* Demographic data derived from 2010 US Census

Population 1 Mile 2 Miles 3 Miles

Total Population 15,770 55,228 124,433

Median Age 39.8 40.5 40.0

Median Age (Male) 39.1 39.9 39.7

Median Age (Female) 40.6 41.2 40.4

Households & Income 1 Mile 2 Miles 3 Miles

Total Households 6,687 22,268 48,902

# of Persons Per HH 2.4 2.5 2.5

Average HH Income $116,798 $128,742 $128,295

Average House Value $941,255 $913,068 $903,975

Race 1 Mile 2 Miles 3 Miles

% White 76.2% 74.9% 70.9%

% Black 0.7% 1.6% 1.9%

% Asian 14.7% 15.9% 18.4%

% Hawaiian 0.2% 0.1% 0.5%

% Indian 0.2% 0.4% 0.5%

% Other 3.0% 2.5% 3.2%

Ethnicity 1 Mile 2 Miles 3 Miles

% Hispanic 10.5% 12.3% 14.8%

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Demographics Map



Max RattnerInvestment Advisor

O: 415.230.0999M: 650.248.4342


Derrick ReedyInvestment Advisor

O: 415.529.6468M: 805.215.7127


Tina QiInvestment Advisor

O: 415.463.1340M: 510.329.2963


Kevin FlahertySenior Investment Advisor

O: 415.704.8813M: 650.743.3213


520 el camino real · 2019-07-09 · 4 section 1 property information 7 section 2 location...

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