investment opportunity 435-443 san benito street 100% leased retail building hollister… · 2018....

435-443 San Benito Street Hollister, CA

Investment Opportunity 100% Leased Retail Building

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Maxima John L. Taft Realty BRE# 01956946 O: 408-847-1553 Group [email protected] C: 408-307-4433

mailto:[email protected]

Investment Highlights

Property • 5,200 SF GLA retail storefront • 5 units ranging from 500 SF to 2,000 SF • Fully leased • Long term stable tenant relationships

Location • Great location in downtown Hollister • Near downtown restaurants and shopping • Public parking available behind building • Busy thoroughfare – 21,000 ADT - 2017

Financial • $899,000 list price • $173 per SF • Upside in below market lease rates • Cap Rate – 5.95% trailing - 7.42% 2019 pro forma

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The Property

Property overview • 435-443 San Benito Street • APN 054-120-007-000 • Zoning - DMU (Downtown Mixed Use) • Remaining economic life in excess of 30 years

Site Information • Parcel Area – 6,570 SF • Coverage Ratio – 79.5% • Public parking available behind building • Walkable Index – 83

Construction Information • Exterior – Wood frame and stucco • Roof – Mix of low sloping and flat • Store Fronts – Standard frame window • No significant deferred maintenance

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Financial Analysis

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Rent Roll – Trailing Pro Forma • 435 – 2,000 SF - $ 1,850 $ 2,591*

• 437 – 750 SF - 750 750 • 439 – 800 SF - 950 950 • 441 – 470 SF - 680 680 • 443 – 1,200 SF - 1,200 1,554*

• Total Gross Revenues $ 65,160 $ 78,300 • Total EBITDA $ 53,525 $ 66,665 * Renews at market in 2019

List Price - $899,000 • $173 per SF • Cap Rate – 5.95% trailing • Cap Rate – 7.42% pro forma 2019 Do Not Disturb Tenants Tours By Appointment Only Maxima John L. Taft

Realty BRE# 01956946 O: 408-847-1553 Group [email protected] C: 408-307-4433

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Hollister Overview

Located in central California’s coast range mountains, Hollister offers an enjoyable combination of historic-cultural aspects and generational family traditions – alive and thriving in today’s technology-oriented world. Nestled in a small valley just 40 minutes from the Monterey Peninsula and less that an hour from the bustle of Silicon Valley, Hollister is the seat of San Benito County and gateway to the Pinnacles National Park. The agriculture of the fertile Central Valley feeds the world with produce, and Hollister is famous for its fresh and healthy crops as well as distinct and unique wines. The beautiful hills and valleys surrounding Hollister make it a dreamland for outdoor lovers. Only miles away for Pinnacles National Park and with back country roads for bikers, it is an ideal location for interacting with nature.

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Major Employers • Corbin Sparrow • Denise & Filice Packing • Guerra Nut shelling • Mcelectronics • Milgard • San Benito Food • Trical • West Marine

While steeped in a history of cattle ranching and agriculture, Hollister retain a casual rural feel while continuing to expand and flourish with growth by offering business owners and entrepreneurs an opportunity to build, expand and develop. The Economic Development Corporation welcomes new bio-tech, bio-research, clean and green technologies, aeronautics and avionics, light manufacturing, tourism and agri-business. To further entice new development, PG&E has identified San Benito County as a recipient of a very beneficial economic development rate for qualifying new businesses. The Wine Industry Council acts as a catalyst to enhance wine industry growth, developing a master plan for facilities and activities related to the wine culture such as hotels, spas, restaurants, learning and education centers - all serious prospects for strengthening local economies. The result is a delicate balance between a dedication to enhancing technology, growth and new businesses and preserving a rural ranching and agriculture heritage and a small town atmosphere.



Confidentiality and Disclaimer This Offering Memorandum (“OM”) contains select information pertaining to the business and affairs of 435 San Benito Street (the “Property”) located in Hollister, CA. It has been prepared by Maxima Realty Group (“MRG” or “Broker”). This OM is not all inclusive or does not contain all of the information a prospective purchaser may desire. The information contained in this OM 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 Owner or Broker. This material is based in part upon information supplied by the Owner and in part upon information obtained from sources that Owner deems reliable. Neither MRG or Owner, nor their officers, employees, or agents make any representations or warranty, express or implied as to the accuracy or completeness of the OM or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchaser 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 the OM for the Property you agree: the OM and its contents are confidential, you will hold it and treat it in the strictest of confidence and you will not directly or indirectly disclose or permit any one else to disclose this OM or its contents in any fashion or manner detrimental to the interest of the Owner Owner expressly reserve the right, at their sole discretion, to reject any and all expression of interest or offers to Purchase the Property and to terminate discussions with any person or entity reviewing the OM 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. A prospective Purchaser 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 may 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 Owner or Broker or any of their affiliates or any of the respective officers, directors, shareholder, owners , employees, or agent for any damages, liability or causes of action relating to the marketing or sale of the Property.

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investment opportunity 435-443 san benito street 100% leased retail building hollister… · 2018....

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