CONFIDENTIAL OFFERING MEMORANDUM
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
RETAIL AND BUSINESS FOR SALE
CONFIDENTIALITY AND DISCLAIMER
This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. New Star Realty has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, New Star Realty has not verified, and will not verify, any of the information contained herein, nor has New Star Realty conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
NON-ENDORSEMENT NOTICE
Newstar Realty is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of New Star Realty, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of New Star Realty, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR AGENT FOR MORE DETAILS.
AMBER SEOVice President 213.298.7838 Mobile213.385.4989 [email protected] # CA 02008733
JOSEPH MINVice President213.280.4989 Mobile213.385.4989 [email protected] # CA 01380749
NEW STAR REALTY3030 W. 8th. St. Suite 200.Los Angeles,CA 90005
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
PROPERTY OVERVIEW
EXECUTIVE SUMMARY
BUSINESS OVERVIEW
MARKET OVERVIEW
FINANCIAL OVERVIEW
LOCATION OVERVIEW
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TABLE OF CONTENT
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
INVESTMENT HIGHLIGHTS
• Building Size about 9,600 SF with about
4,600 SF Mezzanine and Second Floor
• Lot about 0.49 Acres (21,378 SF)
• HVAC and Abundant Parking Space
• High Traffic Count of 44,744 VPD on
Crenshaw Boulevard
• Walking Distance to Two Metro
Stations on Crenshaw Boulevard
• All Metro Constructinons Expected to
Complete by 2021
THE OFFERING
The property is located on 3675 Crenshaw Boulevard, Los Angeles, Californica. The building is about 9,600 SF. There is a mezzanine and second floor space, about 4,600 SF. The property consists of two LAC2 parcels about 0.49 acres in total.
There are two Metro stations, Exposition and Coliseum, on Crenshaw Boulevard accessible by foot. Metro Crenshaw Subway construction is expected to be completed by 2021.
This is a great opportunity for the buyer to update the property and increase its value, as well as a great investment due to the developments along Crenshaw Boulevard.
EXECUTIVE SUMMARY
THE BUSINESS, BEAUTY SUPPLY RETAIL- EBONY WIGS & BEAUTY SUPPLY CAN BE SOLD SEPARATELY FOR AN ASKING PRICE OF $1,500,000 INCLUDING INVENTORY. THE PROPERTY AND THE BUSINESS CAN BE SOLD TOGETHER OR SEPARATELY.
4 3675 CRENSHAW BLVD. LOS ANGELES , CA 90016
3675 CRENSHAW BLVD. LOS ANGELES, CA 90016
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
CRENSHAW BLVD / 44,744 VPD
OFFERING SUMMARY
Total Price $5,800,000
Property $4,300,000
Business $1,500,000
Address 3675 Crenshaw Blvd.Los Angeles, CA 90016
Sale Condition Sales Leaseback (Optional)
Property Type Retail
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2
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ONLY BUSINESS INVESTMENT AT $1,500,000INCLUDING INVENTORY (2)
INCOME PROPERTY INVESTMENT AT $4,300,000 (2)
OWNER USE INVESTMENT AT $5,800,000 (1)
(1) With SBA 7(a) or 504 to a qualified buyer, SBA financing would be available For more information of a cash down and the loan to value, please contact listing agents.(2) Current lease agreement would be negotiated as buyer and seller’s desired return cash flow.
INVESTMENT OPTIONS
NEWSTAR REALTY 5
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PROPERTY OVERVIEW
Price $4,300,000
Address 3675 Crenshaw Blvd.Los Angeles, CA 90016
APN#s 5046-023-006, 5046-023-018
Price/ SF $447
Building SF +/- 9,600
Price/ Lot $201
Lot +/- 10,949 SF, +/- 10,429 SF Total +/- 21,378 SF, 0.49 AC
Property Type Retail
Zoning LAC2
Year Built 1941
Floors 1
Parking 45 (4.68 Spaces per 1,000 SF Leased)
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
PROPERTY SPECIFICATIONS
CR
EN
SHA
W B
LVD
W JEFFERSON BLVD
OBAMA BLVD
6 3675 CRENSHAW BLVD. LOS ANGELES , CA 90016
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3675 CRENSHAW BLVD. LOS ANGELES, CA 90016
SITE MAP
NEWSTAR REALTY 7
Ebony Wigs & Beauty Supply is one of the well-known and popular retailer shop in the Crenshaw area for more than 12 years and is loved by the community.
Even during the COVID-19 Pandemic, there is continuous business gross sales revenue such as $83,750 in June 2020.
Ebony Wigs & Beauty Supply can be sold separately for $1,500,000 including inventory.
The property and the business can be sold together or separately.
More detailed financial information available for qualifying buyer.
ABOUT EBONY WIGS & BEAUTY SUPPLY
BUSINESS OVERVIEW
8 3675 CRENSHAW BLVD. LOS ANGELES , CA 90016
RENT ROLL
3675 CRENSHAW BLVD. LOS ANGELES, CA 90016
CURRENT LEASE SUMMARY
The Seller has a lease agreement for their own business in the accounting purpose. If the commercial real estate is only sold separately, then this lease agreement may be modified by buyer and seller’s desire.
LEASE SUMMARY
Tenant Name Ebony Wigs & Beauty Supply
Gross Rent $15,000/ Month
Commencement Date 12/1/2018
Expiration Date 11/30/2028
Term of Options None
NNN Landlord Responsible
Buidling SF 9,600
Original Lease Term 10 Years
NEWSTAR REALTY 9
CASH FLOW
FINANCIAL OVERVIEW
PROFORMA INCOME SUMMARY
List Price $4,300,000
NOI $259,200
CAP Rate 6.03%
Building SF 9,600
Market Rent/SF $2.25
Minimum Rent $21,600/Month
NNN (Est. $0.5/SF) $4,800/Month
*Proforma cash flow - property only.
10 3675 CRENSHAW BLVD. LOS ANGELES , CA 90016
FINANCIAL ANALYSIS
3675 CRENSHAW BLVD. LOS ANGELES, CA 90016
INVESTMENT OVERVIEW
List Price $5,800,000
Cash Down $1,460,000
SBA Loan Amount $4,340,000
Downpayment 25%
LTV 75%
Estimated Loan Payment with NNN $29,514/Month
Cash-on-Cash Including Principle 18.5%
Estimated Cash Flow $15,000/Month
CURRENT LEASE SUMMARY
Offering 1: Owner Use Investment at $5,800,000
With SBA 7(a) or 504 to a qualified buyer, SBA financing would be available Proforma investment summary.
NEWSTAR REALTY 11
SALES COMPARABLES
MARKET OVERVIEW
SUBJECT PROPERTY
Sale Date N/A
Sale Price $4,300,000
Building SF 9,600
Price/SF $447
Land Area SF 21,378
$/SF Land Gross $201
Zoning LAC2
Year Built 1941
3629-3641 10TH AVE
Sale Date 11/14/2019
Sale Price $8,961,254
Building SF 16,849
Price/SF $531.86
Land Area SF 21,131
$/SF Land Gross $424.08
Zoning M1
Year Built 1947
3894 CRENSHAW BLVD
Sale Date 6/3/2020
Sale Price $4,700,000
Building SF 12,089
Price/SF $388.78
Land Area SF 24,311
$/SF Land Gross $193.33
Zoning LAC2
Year Built 1959
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12 3675 CRENSHAW BLVD. LOS ANGELES , CA 90016
SALES COMPARABLES
3675 CRENSHAW BLVD. LOS ANGELES, CA 90016
4242 CRENSHAW BLVD
Sale Date 11/01/2019
Sale Price $3,900,000
Building SF 7,656
Price/SF $509.40
Land Area SF 14,657
$/SF Land Gross $266.08
Zoning LAC1
Year Built 1941
4202-4212 W JEFFERSON BLVD
Sale Date 12/6/2019
Sale Price $7,090,500
Building SF 15,000
Price/SF $472.70
Land Area SF 17,424
$/SF Land Gross $406.94
Zoning M1
Year Built 1950
4801 W JEFFERSON BLVD
Sale Date 7/14/2020
Sale Price $8,050,000
Building SF 23,000
Price/SF $350.00
Land Area SF 12,632
$/SF Land Gross $637.25
Zoning LAM1
Year Built 1948
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NEWSTAR REALTY 13
ABOUT CRENSHAW
LOCATION OVERVIEW
THE CRENSHAW BOULEVARD COMMERCIAL CORRIDOR HAS HAD MANY DIFFERENT CULTURAL BACKGROUNDS THROUGHOUT THE YEARS, BUT IT IS STILL "THE HEART OF AFRICAN AMERICAN COMMERCE IN LOS ANGELES"
Currently, there is a huge demographic shift increase in which many middle and lower-class blacks and Latinos are migrating to cities in the Inland Empire as well as cities in the Antelope Valley
sections of Southern California as a form of gentrification. The gentrification process continues into 2010's as the Crenshaw mall been approved for a major renovation plan that will include apartments, shops, and more restaurants.
The Metro Crenshaw LAX Line is an 8.5-mile light rail line that will "add eight new stations serving the Crenshaw neighborhood, Leimert Park, Inglewood, Westchester and surrounding areas" The line will run between the Expo/Crenshaw station and Aviation/96
Street station, transiting generally north-south along Crenshaw Boulevard.
As the current Metro Subway construction will be completed as soon as 2021, Crenshaw will be one of the widest boulevards in Los Angeles and be the center of all access points to neighboring counties in Southern California. This development will bring excellent business growth opportunity and increase real estate values for all current major national anchor businesses and nearby developments in the area.
14 3675 CRENSHAW BLVD. LOS ANGELES , CA 90016
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
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SHOPPING & PHARMACY
1 99 Cents Only Stores2 CVS Pharmacy3 Baldwin Hills Crenshaw4 Sears5 Macy's6 Staples7 Dollar Tree8 CVS Pharmacy9 Big 5 Sporting Goods10 Walgreens Pharmacy11 CVS Pharmacy12 Rite Aid Pharmacy13 The Home Depot14 Chesterfield Square15 Walgreens16 Big Lots
GROCERY STORES
1 Superior Grocers2 Smart & Final3 Albertsons4 Ralphs5 Numerous Uno Rancho6 Food 4 Less7 Ralphs8 Smart & Final9 Ralphs10 Food 4 Less11 El Super
FOOD & DRINKS
1 Denny's2 Wienerschnitzel3 El Pollo Loco4 Starbucks5 Burger King6 Taco Bell7 McDonald's8 Yoshinoya9 Buffalo Wild Wings10 Krispy Kreme11 Pizza Hut12 Wing Street13 McDonald's14 IHOP15 Wingstop16 McDonald's17 Popeyes Louisiana Kitchen
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83 WALK SCORE
Very Walkable
METRO STATIONEXPO/CRENSHAW
4 Min Walk / 0.2 Mile
METRO STATION FERNDALE
15 Min Walk / 0.7 Mile
COMMUTER RAILUNION STATION
14 Min Drive / 7.8 Mile
EXPO/CRENSHAW
FERDALE
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EXPO/WESTERN
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EXPO/LA BREA
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NEWSTAR REALTY 15
RETAIL MAP
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
8- unit apartments with 9 affordable units. About 3,900 square feet of ground-floor commercial space.
3518 CRENSHAW
NEAR BY DEVELOPMENTS
2
401-unit with 81 affordable units. 40,000 square feet for retail and 502 parking spaces.
CRENSHAW CROSSING
961 new condos and apartments, with a 400-room hotel, and new offices, restaurants, and retail space.
BALDWIN HILLS CRENSHAW PLAZA
5-story mixed-use apartment. 69-unit apartments with 6 affordable units — 52 parking spaces.
3600 STOCKER STREET
124 units apartments with 11 affordable units. 6,000 square feet of space for storefronts with 60 parking spaces.
4242 CRENSHAW
1.3-mile-long project, open-air museum will acknowledge the contributions of black Angelenos.
DESTINATION CRENSHAW
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16 3675 CRENSHAW BLVD. LOS ANGELES , CA 90016
DEMOGRAPHICS
3675 CRENSHAW BLVDLOS ANGELES, CA 90016
MILE
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1 MILE RADIUS HIGHLIGHTS
1 - MILE 3 - MILE 5 - MILE
Population 45,669 383,691 1,264,510
Median Age 37 36 36
Households 17,275 128,835 450,975
Median Household Income $39,021 $46,502 $51,048
Average Household Income $59,248 $70,160 $77,202
45,669POPULATION
37MEDIAN AGE
HOUSEHOLDS$39,021
AVERAGE HOUSEHOLD INCOME
$59,248
NEWSTAR REALTY 17
3675 CRENSHAW BLVDLOS ANGELES, CA 90016