900 w glenoaks blvd glendale, ca 91202
TRANSCRIPT
900 W GLENOAKS BLVDGLENDALE, CA 91202
KARINE ASLANIAN Broker Associate
[email protected] | LIC. #01331967
ANDY HAIRABEDIAN Estate Advisor
[email protected] 626.318.0907 | LIC. #01900114
TH
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NC
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2020 | PG
290
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EN
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D 6 Retail Units15,660 SF Lot9,539 Net SFYear Built: 2015# of Parking Spaces: 38Parking Ratio: 4 / 1,000 SFCap Rate: 3.97%Excellent Investment OpportunityPrime LocationUpside in RentsBuilding Height: 16’Parking32 Surface Spaces are available; Ratio of 2.78/1,000 SFFrontage147’ on Glenoaks Blvd111’ on Highland AveFrontage on W Glenoaks Blvd: 197’ Frontage on Highland Ave: 96’Elevator
900 W Glenoaks BlvdGlendale, CA 91202
APN Property TypeApprox. Net SFApprox. Lot SizeTotal # of UnitsTotal # of ParkingYear BuiltZoning
5628-035-022Retail (6 Units) 9,53915,6606382015GLC3
Andy Hairabedian and Karine Aslanian are pleased to present this free-standing 6-unit retail center in the heart of Glendale CA. Conveniently located on 900 W Glenoaks Blvd is an amazing asset consisting of six (6) retail spaces. Built in 2015 this investment is ideal for someone looking for an owner user or as an investment with great cash flow, upside in rents and little deferred maintenance. Building is fully occupied with Absolute Triple Net lease in place.
PROPERTY INTRODUCTION
HIGHLIGHTS PROPERTY INFORMATION
PERFECT INVESTMENT
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2020 | PG
390
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2020 | PG
490
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ANNUALIZED OPERATION DATA
Purchase Price
Number of Units
Cost Per Unit
Current CAP
Approx. Age
Approx. Lot Size
Approx. Net RSF
Cost Per Net RSF
Gross Scheduled Income
Less Vacancy Rate
Gross Operating Income
Less Expenses
Net Operating Income
Less Loan Payments
Pre Tax Cash Flow
Taxes (2020)
Insurance
Elevator Maint
Electricity
Water
Gas
Trash
Maint Expenses
Security/Fire Sprinkler
Landscape
Telephone
$7,999,000
6
$1,333,167
3.97%
2015
15,660
9,539
$838.56
$475,455
($14,264) 3%*
$461,191
($143,973)
$317,219
($266,721) 40% Down
$50,497
$99,988
$4,808
$2,880
$4,676
$1,140.79
$3,000
$7,422
$3,353
$10,191
$2,788
$4,581
INVESTMENT INFORMATION
INCOME, EXPENSES & CASH FLOW
ESTIMATED EXPENSES
*TOTAL EXPENSES $143,973
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2020 | PG
590
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D
UNIT #
(A)
(B)
(C)
(D)
(E)
(F)
TENANT NAME
Beauty Salon
Law Firm
Mattress
Nail Salon
Pharmacy
Kids Furn/Cloth
RENTAL INCOME
$1,550
$1,500
$1,475
$1,450
$1,445
$1,400
CAM CHARGES
$1,400
$1,500
$2,000
$1,500
$1,500
$2,100
LEASETERM
5
5
5
5
5
5
LEASEOPTION
5yr
none
Two 5yr
5yr
5yr
Two 5yr
LEASEEXP.
12/31/2020
12/31/2022
2/28/2021
12/31/2023
6/30/2020
11/30/2021
LEASETYPE
Absolute Triple Net Lease
Absolute Triple Net Lease
Absolute Triple Net Lease
Absolute Triple Net Lease
Absolute Triple Net Lease
Absolute Triple Net Lease
SQ. FT.
1,226
1,375
1,802
1,340
1,330
1,963
RENT ROLL - 6 RETAIL UNITS
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2020 | PG
690
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GAS
ELECTRIC
WATER
GREASE TRAP
ADDRESS
900 – 1000 E Colorado StreetGlendale, CA 91205
220 E Chevy Chase DrGlendale, CA 91205
215-219 N Larchmont BlvdLos Angeles, CA 90004
201-215 N Western AveLos Angeles, CA 90004
3 METERS
6 METERS
5 METERS
6 TRAPS
AREA SQ. FT.
17,127
8,771
7,100
10,784
LOT SQ. FT.
49,262
22,608
6,251
19,602
SALE PRICE
$9,600,000
$7,150,000
$10,025,000
$8,600,000
SALE DATE
3/2/2020
7/9/2018
2/14/2020
Under Contract
METERS
COMPARABLE SALESComparable are within the following criteria:Building Area: 7,000 SF – 12,000 SFSale Date: 2018 – 2020Use Code: Retail | >80% Occupancy | 3&4 Star | 7 Mile Radius
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2020 | PG
790
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ADDRESS
1208 W Glenoaks BlvdBurbank, CA
313 W California AveGlendale, CA 91203
313 W California AveGlendale, CA 91203
116-120 E Broadway Glendale, CA 91205
301-307 N Brand BlvdGlendale, CA 91203
3376 Glendale BlvdLos Angeles, CA 90039
AREA SQ. FT.
1,740
1,252
1,517
1,450
1,918
1,397
YEAR BUILT
1967
2017
2017
1989
1929
2016
LEASE PRICE
$46.00 - $51.00 NNN
$46.20 - $51.00 NNN
$46.20 - $51.00 NNN
$43.92 NNN
$45.00 - $47.00 NNN
$40.20 NNN
LEASE DATE
11/8/2017
10/10/2017
10/10/2017
12/5/2018
4/17/2018
8/6/2019
COMPARABLE LEASESComparable are within the following criteria:Building Area: 1,200 SF – 2,000 SFLease Date: 5/2017 – 5/2020Use Code: Retail | Office (2 Miles)
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2020 | PG
890
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Total Gross Monthly Income: $39,988.12
Total Yearly Income: $479,857.44
COLLECTION
Alma St
Highland Ave
Highland Ave
W Dryden St
Palm Dr
Alma St
Pelanconi Ave
Burchett St
Norton Ave
Pelanconi Ave
ADDRESS
Burchett St SW
W Dryden St N
Burchett St SW
Highland Ave NW
Alma St W
Burchett St NE
Burchett St NE
Highland Ave NW
Zook Dr SW
Kellogg Ave NE
TRAFFIC VOL
198
7,102
7,257
685
955
235
1,334
1,310
658
1,092
YEAR
2018
2018
2018
2018
2018
2018
2018
2018
2018
2018
YEAR
0.07
0.07
0.09
0.13
0.13
0.13
0.14
0.14
0.19
0.19
YEAR
2018
2018
2018
2018
2018
2018
2018
2018
2018
2018
TRAFFIC
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2020 | PG
990
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DEMOGRAPHICS
Population
Households
Average Age
Median HH Income
Daytime Employees
Population Growth ‘20-’25
Household Growth ‘20-’25
Downtown Burbank Commuter Rail (Ventura County, Antelope...
Glendale Commuter Rail (Ventura County, Antelope Valley...
Bob Hope Airport
Los Angeles International Airport
Long Beach-Daugherty Field Airport
Bus Line Signalized Intersection
1 MI
34,080
12,869
41.70
$71,090
15,164
0.5%
0.5%
DRIVE
7 min
7 min
DRIVE
16 min
37 min
43 min
3 MI
210,734
81,466
41.30
$63,128
134,547
0.4%
0.4%
DISTANCE
3.0 mi
3.1 mi
DISTANCE
9.4 mi
21.5 mi
30.2 mi
PUBLIC TRANSPORTATIONCOMMUTER RAIL
AIPORT
AMENITIES
KARINE ASLANIAN Broker Associate
[email protected] | LIC. #01331967
ANDY HAIRABEDIAN Estate Advisor
[email protected] 626.318.0907 | LIC. #01900114