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Ventura, CA

150 West Main Street

Prime Owner-User or Investment Opportunity in Downtown Ventura

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C O N F I D E N T I A L I T Y & D I S C L A I M E R

The information contained herein is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus& Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This material 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 independent due diligence investigation. Marcus & Millichap,as a Real Estate Licensee is not qualified to discuss or advise on legal, accounting, or other matters outside of those permitted by state law. Marcus &Millichap 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, PCBs 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 herein has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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. All references to Marcus & Millichap include its officers, partners, agents, sub-agents, and employees. Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) 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 M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

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OFFERING SUMMARY

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to purchase 150 West Main Street, Ventura, CA (“the Property”). The Property will be delivered vacant with seven interior auto service bays, plus one gated outdoor bay totaling 4,700 square feet. Extremely well located on Main Street, the city’s central retail artery, the Property provides a rare owner-user opportunity for auto-related users or other creative uses in the beach community’s burgeoning downtown core. The Property can also be an excellent lease-up opportunity for a value-add investor.

150 West Main Street is situated on half an acre and is surrounded by numerous retail and service amenities and a diversified employment base. The Property offers above-market surface parking of 3.23 per 1,000 rentable square feet and outstanding accessibility to three freeways. Users or tenants have easy access to the Ventura (101), Ojai (33), and Santa Clarita (126) Freeways, providing convenient commutes to all of Ventura, Los Angeles, and Santa Barbara Counties.

The Seller is willing to include the existing equipment used in the auto repair and maintenance business in the sale, allowing a related user to greatly reduce initial capital improvements while taking advantage of the built-in market demand.

$1,500,000 LIST PRICE

$319PER SF

±4,700 SQUARE FEET

7.52% CAP RATEPRO FORMA

OWNER-USER OPPORTUNITY

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VENTURA AVENUE

MAIN STREET

Ventura Fair Grounds

150 West Main Street

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L O C A T I O N P A R K I N G

S I T E

S H O W R O O MF R O N T A G E

L A N D A R E AT R A F F I C C O U N T S

B U I L D I N G A R E A

Z O N I N G

B U I L T

PROPERTY OVERVIEW

150 West Main StreetVentura, CA 93001

16 on-site sur face parking spaces, or 4 per 1,000 square feet, plus reciprocal parking agreement with the adjacent parcel provides up to 75 additional spaces.

The Property is located West Main Street and South Olive Street between Olive and Ventura Avenue.

±1,100 SF with store front glass and HVAC.

The site benefits from approximately 81 feet of frontage along West Main Street.

150 West Main Street consists of 0.48 Acres or 21,000 Square Feet of land area.

The Property consists of ±4,700 Square Feet of rentable area. Buyer to verify square footage.

Per the city of Ventura, the subject property is currently zoned as T6 - Urban Core which allows for up to four stories and numerous different uses including restaurants and bars.

The Property was constructed in 1986 for Goodyear. Seller has occupied the property and operated Ventura Muffler & Brake for over twenty years.

West Main Street 18,000

Highway 33 41,000

101 Freeway 94,000

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PROPERTY HIGHLIGHTS

SHOWROOM

±1,175 SFWell-maintained showroom with Main Street frontage and excellent signage.

7 AUTO BAYS

±3,525 SFSeven auto bays with 9.5’x10’ ground level loading doors, 12’ clear height, and well distributed power.• 7 Interior Auto Bays• 1 Gated Exterior Bay

MOVE-IN READY

Equipment IncludedSeller will include existing auto repair equipment in the sale. *See next page for more details

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SITE PLAN FLOORPLAN

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Alignment Rack Machine

Transmission Flush Machine

Coolant Flush

Stock Exhaust

Cuda Parts Washer

On Car Brake Lathe

Oil Trolleys

Tire Balancer

EQUIPMENT INCLUDED

Tire Changer

A/C Charger

Grinder

Brake Lathe

Pipe Bender

Welding Units

Software Program

A/C Compressor

6 Lifts

1 - 25,000 Lbs Capacity

3 - 10,000 Lbs Capacity

2 - 8,000 Lbs Capacity

1 - Alignment Rack

Alarm System

Motion/Contact Sensors

Cameras

Overhead

2 - Welding Hoses

3 - Air Hoses

1 - Water Hose

3 - Electrical Outlet Drops

7 - Bay Doors 9.5w x 10h

PROPERTY OVERVIEW

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VENTURA OVERVIEW

Ventura boasts an extraordinarily high quality of life with proximity to affluent neighborhoods, extensive retail options, quality schools, and a true live-work-play environment in a Southern California beach community. Ventura is located In Ventura County, 33 miles southeast of Santa Barbara and 60 miles northwest of Los Angeles, home to over 80,000 residents. Ventura is situated along the coast with numerous world-class beaches, and the area has maintained a small-town feel amidst the stunning natural beauty of the Los Padres National Forest, the Santa Ynez Mountains, and the Topa Topa Bluffs. The City of Ventura benefits from excellent access to vital freeways connecting key cities including the Ventura (101), Santa Clarita (126), Ojai (33), Golden State (5), Ronald Reagan (118), and San Diego (405), and is within 50 miles of the Los Angeles International (LAX) and Burbank Airports. Additionally, the Property is near the start to the 26-mile-long “101 Tech Corridor,” home to over 200 tech companies.

In contrast to most of Southern California’s coast, low growth policies and the SOAR (Save Our Agricultural Resources) Initiative have helped keep Ventura County’s charm and access to outdoor recreation alive. Bordered by the affluent Santa Barbara and congested San Fernando Valley/Los Angeles markets, the beautiful and still-affordable Ventura County is a target for major employers and tech start-ups.

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MAIN STREET

DOWNTOWN AMENITIES

150 West Main Street

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Daytime Population Average HouseholdIncome

Median Home Price84,814 $559,600 $85,046

M a r c u s & M i l l i c h a p R e s e a r c h , 5 M i l e R a d i u s

VENTURA DEMOGRAPHICS

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Patagonia is not only a leader in outdoor clothing, but is also regarded as one of the most desirable companies to work for in the entire world. Paving the way for corporate sustainability, on-site child care, and work life balance, Patagonia was truly an innovator for the model now employed by tech companies across the world. Serving as its Headquarters since 1967, this site in Downtown Ventura has allowed Patagonia to recruit top talent from across the world who benefit from the world class surf and all that Ventura has to offer. Today, the company is growing rapidly and expanding its footprint on the western side of Downtown Ventura,purchasing numerous additional properties in the last 24 months. This has solidifying the area as a sought-after destination, where many of their employees live, work, and play.

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INVESTMENT OVERVIEW

PRO FORMA FINANCIAL ANALYSIS

Rentable Square Feet ±4,700 SF

Market Rent Per SF (Annual) $24 NNN

Net Operating Income $112,800

Price $1,500,00

Pro Forma Cap Rate 7.52%

150 West Main Street offers a fantastic investment opportunity. Both investment and leasing demand for auto bays in Ventura County and throughout Southern California are extremely high. Vacancy rates are below 1% and asking lease rates have climbed to $2.00 NNN in the county, a 40% increase since 2012. New development has been nonexistant since 2007, suggesting rent growth will continue into the foreseeable future. These strong fundamentals have led investors to covet these assets as well, evidenced by average Cap Rates dropping below 5.5%. The Property’s premium location and quality construction should allow investors to achieve above market lease rates. Additionally, the Property is perfectly designed for a major regional or national tenant. An opportunistic investor, or one with a “tenant in tow,” may achieve exceptional short- or long-term returns.

RESALE ANALYSIS

Market Cap Rate 5.5%

Terminal Value $2,050,909

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S U B J E C T P R O P E R T Y

150 WEST MAIN STREET, VENTURA

Asking Price $1,500,000

Square Feet 4,700

Price PSF $319

Land Area 21,000 SF

Sale Type Owner-User

! 1177 NORTH VENTURA AVENUE, VENTURA

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Square Feet 2,600

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Closing Date July 2017

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ECONO LUBE N’ TUBE ECONO LUBE N’ TUBE BIG O TIRES

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Ventura, CA

150 West Main Street

150 West

Main Street

GARY COHEN805.351.7143gcohen@marcusmillichap.comLic. 00988655

JAMES DEBUISER805.351.7144jdebuiser@marcusmillichap.comLic. 01965942

TYLER IGLEHART805.351.7147tiglehart@marcusmillichap.comLic. 01960368

INVESTMENT CONTACTS