former rite-aid nnn strip center · 2517 e fremont street i stockton, ca 95205 cross street traffic...
TRANSCRIPT
OFFERING MEMORANDUM
2517 E Fremont Street Stockton, CA 95205
4.01.19www.2517fremont.com
Former Rite-Aid NNN Strip Center
3.29.19
2517 E Fremont Street Stockton, CA 95205
*DO NOT DISTURB THE TENANT
Exclusively Listed By:
RICH KWOKAssociate Broker
Cell: (408) [email protected]
BRE License#: 01352601
Century 21 Real Estate Alliance2050 Concourse Dr #98,
San Jose, CA 95131
Phone (408) 800-7946
Fax (408) 519-6758
LANA NGUYENRealtor
Cell: (408) [email protected] License#: 01874327
PROPERTY DESCRIPTION
Rich KwokAssociate Broker I (408) 569-2327 teamrich@c21soldteamcomCalBRE#01352601
2517 E Fremont Street I Stockton, CA 95205
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
Highlights:• 5 Unit space, Former pharmacy space available suitable for retail uses• Established retail center with 360 degree trade area.• Great investment property opportunity• Available parking on both sides of building.• Located on a busy intersection and artery route 26, 99, and 4.• Stockton is approx. 90 miles inland from San Francisco Bay Area, and serves as a major shipping and trucking point for many agricultural and manufacturing industries.
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
DEMOGRAPHICS
Rich KwokAssociate Broker I (408) 569-2327 teamrich@c21soldteamcomCalBRE#01352601
2517 E Fremont Street I Stockton, CA 95205
CROSS STREET TRAFFIC VOL YEAR DISTANCEE Fremont St - N Filbert St, NE 13,900 2017 0.10 mi
N Filbert St - Finland Ave, S 11,700 2017 0.11 mi
E Fremont St - N Shasta Ave, NE 10,400 2017 0.14 mi
N Shasta Ave - E Fremont St, N 488 2017 0.20 mi
E Miner Ave- N F St, W 4,700 2017 0.25 mi
TRAFFIC
POPULATION1 MILE 2 MILES 3 MILES
Population 18,550 58,117 113,267Income $49,953 $49,278 $54,165
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
LISTING INFORMATION2517 E Fremont Street I Stockton, CA 95205
Price: $2,400,000
Lease: $196,884/Year
CAP Rate: 6.73%
Property Type: Office/Retail
Rentable Building Size: 17,227 SF
Lot size: 1.38 AC
Tenancy: Multiple
Parking Ration: 2.61/1,000 SF
Zoning: CG
Year Built: 1959
Walk Score: 66 (Somewhat Walkable)
Transit Score: 31 (Some Transit)
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
UNIT INFORMATION2517 E Fremont Street I Stockton, CA 95205
UNIT TENANT SQFT TENANCY SINCE RENT
2505 Fremont Center Liquors 1850 10/01/2016 $4,200.00
2517 Fremont Center Market 8400 07/18/2005 $7,882.00
2525 Fremont Center Pharmacy 3700 VACANT
2529 98 Cents Plus Hardware 3700 01/15/2012 $2,625.00
Diaz Recycling Center 09/01/2008 $1,700.00
17,650 $16,407.00/Month
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
FINANCIALS2517 E Fremont Street I Stockton, CA 95205
LEASE YEARS ANNUAL BASE MONTHLY BASE
02/01/2015 - 01/31/16 $30.900 $2,575
02/01/2016 - 01/31/17 $30,900 $2,575
02/01/2017 - 01/31/18 $31,500 $2,625
02/01/2018 - 01/31/19 $31,500 $2,625
02/01/2019 - 01/31/20 $32,100 $2,675
Tenant: 98 CENTS PLUS HARDWARE
Lease Type
Commencement Date 02/01/2015
Base Lease Term 5 Year Lease
Lease Expiration 01/31/2020
Options None
Current Annual Rent $31,500
Rent Increase in Base Term 2% Bi-annual Increase
Taxes, Utilities & Insurance Tenant is responsible
Roof & Structure Tenant is responsible
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
FINANCIALS2517 E Fremont Street I Stockton, CA 95205
LEASE YEARS ANNUAL BASE MONTHLY BASE
10/01/16 - 09/30/17 $45,600 $3,800/mo plus NNN
10/01/17 - 09/30/18 $46,800 $3,900/mo plus NNN
10/01/18 - 09/30/19 $48,000 $4,000/mo plus NNN
10/01/19 - 09/30/20 $49,200 $4,100/mo plus NNN
10/01/20 - 09/30/21 $50,400 $4,200/mo plus NNN
10/01/21 - 09/30/22 $51,600 $4,300/mo plus NNN
10/01/22 - 09/30/23 $52,800 $4,400/mo plus NNN
10/01/23 - 09/30/24 $54,000 $4,500/mo plus NNN
10/01/24 - 09/30/25 $55,200 $4,600/mo plus NNN
10/01/25 - 09/30/26 $56,400 $4,700/mo plus NNN
Tenant: FREMONT CENTER LIQUORS
Lease Type NNN
Commencement Date 10/01/2016
Base Lease Term 10 Year Lease
Lease Expiration 09/30/2026
Options Two - 5 Year Options
Current Annual Rent $50,400
Rent Increase in Base Term 1% Annual Increase
Taxes, Utilities & Insurance Tenant is responsible
Roof & Structure $Tenant is responsible
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
FINANCIALS2517 E Fremont Street I Stockton, CA 95205
LEASE YEARS ANNUAL BASE MONTHLY BASE
01/01/10 - 12/31/10 $56,400 $4,700/mo plus NNN
01/01/11 - 12/31/11 $59,220 $4,935/mo plus NNN
01/01/12 - 12/31/12 $62,040 $5,170/mo plus NNN
01/01/13 - 12/31/13 $64,860 $5,405/mo plus NNN
01/01/14 - 12/31/14 $67,680 $5,640/mo plus NNN
01/01/15 - 12/31/15 $70,500 $5,875/mo plus NNN
01/01/16 - 12/31/16 $73,320 $6,110/mo plus NNN
01/01/17 - 12/31/17 $76,140 $6,345/mo plus NNN
01/01/18 - 12/31/18 $78,960 $6,580/mo plus NNN
01/01/19 - 12/31/19 $81,780 $6,815/mo plus NNN
Tenant: FREMONT CENTER MARKET
Lease Type NNN
Commencement Date 01/01/2010
Base Lease Term 10 Year Lease
Lease Expiration 12/31/2019
Options Two - 5 Year Options
Current Annual Rent $94,584
Rent Increase in Base Term 5% Annual Increase
Taxes, Utilities & Insurance Tenant is responsible
Roof & Structure Tenant is responsible
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
FINANCIAL OVERVIEW2517 E Fremont Street I Stockton, CA 95205
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
*Property Tax: Vacant Pharmacy**All numbers are estimated and buyers should do their own analysis & diligence
PROPERTY PHOTOS2517 E Fremont Street I Stockton, CA 95205
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
PROPERTY PHOTOS2517 E Fremont Street I Stockton, CA 95205
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
MAPS & AERIALS2517 E Fremont Street I Stockton, CA 95205
MAPS & AERIALS2517 E Fremont Street I Stockton, CA 95205
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327
CONFIDENTIALITY & DISCLAIMERThis Offering Memorandum contains select information pertaining to the business and affairs of 2517 E Fremont St. Stockton, CA 95205 (“Property”). It has been
prepared by Century 21 Real Estate Alliance (“Broker”). This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Broker. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Seller, nor their
officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their
own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum for the Property, you the prospective purchaser or representative agree:1 . The Offering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and
3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion ormanner detrimental to the interest of the Seller.
Seller and Broker expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the
future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Broker or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or
agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. Information is deemed reliable but not guaranteed.
RICH KWOKAssociate BrokerCell: (408) [email protected] License#: 01352601
LANA NGUYENRealtorCell: (408) [email protected] License#: 01874327