50,000 sf industrial on 34 acres · 2016 total households 2,017 37,331 81,739 2021 total households...
TRANSCRIPT
OFFERING MEMORANDUM
50,000 SFIndustrial on
3 4. Acres
5867 Jasmine StRiverside, CA 92504
50,000 SF Industrial on 3 4. AcresCONTENTS
Exclusively Marketed by:
Tomeo JerrySenior Associate CommercialLic: [email protected]
Brandon Navarette Senior Commercial AssociateLic: 01968090
bnavarette951-313-0956
@mgrrealestate.com
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
3800 E. Concours. Suite 350Ontario, CA 91764
01 Executive Summary Investment Summary 4 Location Summary 5
02 Property Description Property Features 7 Aerial Map 8 Property Images 9
03 Rent Roll Rent Roll 11 Lease Expiration 12
04 Financial Analysis Income & Expense Analysis 14
05 Demographics Demographics 16 Demographic Charts 17
50,000 SF Industrial on3 .4 A
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Executive Summary
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Investment Summary
Location Summary
50,000 SF Industrial on 3 .4 Acres Investment Summary | 04
OFFERING SUMMARYADDRESS 5867 Jasmine St
Riverside CA 92504COUNTY RiversideBUILDING SF 50,000 SFLAND SF 148,105 SFYEAR BUILT 1975APN 189-060-003, 189-060-004, 189-060-012OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARYOFFERING PRICE $7,000,000PRICE PSF $140.00OCCUPANCY 96 %NOI (CURRENT) $350,620CAP RATE (CURRENT) 5.01 %
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2016 Population 7,401 130,870 291,3532016 Median HH Income $62,227 $53,033 $53,5802016 Average HH Income $78,211 $67,551 $70,809
50,000 SF Industrial on 3 .4 Acres Location Summary | 05
Excellent location with an expanding market place. Close toOntario International Airport, Riverside Airport, 60, 15, 91Freeway.
Regional Map
Locator Map
50,000 SF Industrial on3 .4 A
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Property Description
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Property Features
Aerial Map
Parcel Map
Additional Maps
Property Images
50,000 SF Industrial on 3.4 Acres Property Features | 07
PROPERTY FEATURESNUMBER OF UNITS 1BUILDING SF 50,000LAND SF 148,105LAND ACRES 3.4YEAR BUILT 1975ZONING TYPE BMP, IndustrialBUILDING CLASS BLOCATION CLASS BNUMBER OF STORIES 2RAIL SPOTS / RAIL LINES Union PacificCEILING HEIGHT 22'DOCK HIGH DOORS 6GRADE LEVEL DOORS 3FENCED YARD YESOFFICE SF 4,000
NEIGHBORING PROPERTIESNORTH Union Pacific Railroad
MECHANICALHVAC 100 % HVACFIRE SPRINKLERS YESELECTRICAL / POWER 3,000a/277-480v 3p 4w Heavy
CONSTRUCTIONFRAMING Masonry tilt-upEXTERIOR Masonry tilt-up
50,000 SF Industrial on 3.4 Acres Aerial Map | 08
50,000 SF Industrial on 3 .4 Acres Property Images | 09
Paint and Oven Booths Electrical, Gas, and Air Lines throughout Building
3,000 AMPS /277-480v 3p 4w Heavy Rear Ground Level Door for UP Rail Hook Up
50,000 SF Industrial on3 .4 A
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Rent Roll
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Rent Roll Details
Lease Expiration Summary
50,000 SF Industrial on 3 .4 Acres Rent Roll | 11
Lease Term Rental RatesSuite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly Base
RentMonthly PSF Annual Base
RentAnnual PSF Lease Type Options/Notes
Noble Plastics 13,884 27.77% 07/01/19 07/31/22 CURRENT $10,413 $0.75 $124,956 $9.00 IG07/01/2020 $10,725 $0.77 $128,705 $9.2407/01/2021 $11,047 $0.80 $132,566 $9.6007/01/2022 $11,379 $0.82 $136,543 $9.84
Riverside Specialty Coatings 17,190 34.38% 11/01/19 10/31/23 CURRENT $15,092 $0.88 $181,104 $10.54 IG Rent Includes $42,000/Year forequipment rental.
11/01/2020 $15,620 $0.91 $187,443 $10.9211/01/2021 $16,167 $0.94 $194,003 $11.2811/01/2022 $16,733 $0.97 $200,793 $11.6411/01/2023 $17,318 $1.01 $207,821 $12.12
Roberto Ironworks 3,400 6.80% 03/01/20 02/28/23 CURRENT $2,600 $0.76 $31,200 $9.18 IGBody Shop Lot Lease 11/01/19 CURRENT $400 $4,800 IG Body Shop rents space on the lot
for $400 per month on a month tomonth basis.
Belshire Environmental 04/01/12 CURRENT $2,500 $30,000 IG Outside Storage on the West Endof the Lot. Is on month to monthbasis.
Santana, Torres, Gutierrez,LLC.
7,000 14.00% 10/01/19 CURRENT $7,000 $1.00 $84,000 $12.00 Annual rent includes $6,0000 foroutside storage. Tenant is on amonth to month basis.
Totals 41,474 $38,005 $456,060
50,000 SF Industrial on 3.4 Acres Lease Expiration | 12
50,000 SF Industrial on3.4
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Financial Analysis
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Income & Expense
50,000 SF Industrial on 3.4 Acres Income & Expense Analysis | 14
INCOME CURRENTEffective Gross Income $456,060
Less: Expenses $105,440
Net Operating Income $350,620
EXPENSES CURRENT
Real Estate Taxes $73,147
Insurance $11,500
Fire Alarm $1,200
Management Fee $11,072
Vacancy Factor (2%) $7,381
Landscaping $1,140
Total Operating Expense $105,440
Expense / SF $2.10
% of EGI 23.12 %
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
5867 Jasmine St. Riverside, CA 92504Rent Roll
Tenant Square Feet Price Per SQ Ft Monthly Rent Yearly Rent Annual Rent Escalation Lease Start Date Lease Expitarion Lease Type
Noble Plastics, Inc. 13,884 0.75$ $10,413.00 $124,956.00 3.0% 7/1/2019 7/31/2022 IGRiverside Specialty Coatings 17,190 0.88$ $15,092.00 $181,104.00 3.5% 11/1/2019 10/31/2023 IGRoberto Ironworks 3,400 0.76$ $2,600.00 $31,200.00 4.0% 3/1/2020 2/28/2023 IG
*Lot Dead Storage Body Shop Extra Parking Lot* $400.00 $4,800.00 0.0% 11/1/1019 Month to Month IG*Lot Dead Storage Belshire Environmental* -$ $2,500.00 $30,000.00 0.0% 2012 Month to Month IG
Santana Torres Gutierez 7,000 1.00$ $7,000.00 $84,000.00 0.0% 10/1/2019 Month to Month IGUpstairs Office Suite / Not yet rentd 3,500 -$ $0.00 $0.00 0.0% IG
Lot (Sq. Ft.) Building (Sq. Ft.) Rentable Sq Ft Monthly Income Yearly Income148,105 50,000 44,974 $38,005.00 $456,060.00
Income and ExpensesYearly
Real Estate Taxes (1.28546%) (73,147.00)$ Cap Rate Price Per Sq Ft ValueInsurance (11,500.00)$ 6.0% 5,843,655.83$ $117 $5,850,000.00Fire Alarm (1,200.00)$ 5.7% 6,151,216.67$ $123 $6,150,000.00Landscaping (1,140.00)$ 5.5% 6,374,897.27$ $127 $6,350,000.00
Yearly Expenses (86,987.00)$ 5.2% 6,742,679.81$ $135 $6,750,000.00Adjusted Income $369,073.00 5.0% 7,012,387.00$ $140 $7,000,000.00
Management Fee 3% (11,072.19)$ Vacancy Factor 2% (7,381.46)$
NOI $350,619.35
50,000 SF Industrial on3.4
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emographics
Demographics
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Demographic Details
Demographic Charts
50,000 SF Industrial on 3.4 Acres Demographics | 16
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 6,612 111,419 244,907
2010 Population 7,099 124,504 274,422
2016 Population 7,401 130,870 291,353
2021 Population 7,693 136,779 305,791
2016 African American 417 6,263 15,132
2016 American Indian 96 1,651 3,730
2016 Asian 302 4,301 10,242
2016 Hispanic 4,450 82,135 186,639
2016 White 3,905 70,104 155,668
2016 Other Race 2,144 41,030 90,836
2016 Multiracial 525 7,058 14,660
2016-2021: Population: Growth Rate 3.90 % 4.45 % 4.85 %
2016 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 121 3,730 8,409
$15,000-$24,999 137 3,986 8,487
$25,000-$34,999 177 3,649 8,472
$35,000-$49,999 274 5,849 12,149
$50,000-$74,999 501 8,102 16,372
$75,000-$99,999 328 4,806 10,843
$100,000-$149,999 316 4,608 10,285
$150,000-$199,999 82 1,655 4,009
$200,000 or greater 82 945 2,714
Median HH Income $62,227 $53,033 $53,580
Average HH Income $78,211 $67,551 $70,809
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 2,002 36,064 77,074
2010 Total Households 1,950 35,886 77,575
2016 Total Households 2,017 37,331 81,739
2021 Total Households 2,087 38,814 85,398
2016 Average Household Size 3.67 3.45 3.50
2000 Owner Occupied Housing 1,447 20,639 44,151
2000 Renter Occupied Housing 474 13,993 29,500
2016 Owner Occupied Housing 1,516 20,825 45,679
2016 Renter Occupied Housing 501 16,507 36,060
2016 Vacant Housing 99 2,449 5,584
2016 Total Housing 2,116 39,780 87,323
2021 Owner Occupied Housing 1,574 21,546 47,536
2021 Renter Occupied Housing 513 17,268 37,862
2021 Vacant Housing 103 2,596 5,910
2021 Total Housing 2,190 41,410 91,308
2016-2021: Households: Growth Rate 3.40 % 3.90 % 4.40 %
Source: esri
50,000 SF Industrial on 3.4 Acres Demographic Charts | 17
1 Mile Radius 3 Mile Radius 5 Mile Radius
2016 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2016 Population by Race
50,000 SF Industrial on 3.4 Acres Demographic Charts | 18
2016 Household Occupancy - 1 Mile Radius
Average Income Median Income
2016 Household Income Average and Median
50,000 SF Industrial on 3.4 Acres
CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary andstrictly confidential. It is intended to be reviewed only by the party receiving it fromMGR Real Estate, Inc. and it should not be made available to any other person orentity without the written consent of MGR Real Estate, Inc..
By taking possession of and reviewing the information contained herein the recipientagrees to hold and treat all such information in the strictest confidence. Therecipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, pleasepromptly return this offering memorandum to MGR Real Estate, Inc.. This offeringmemorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligenceinvestigation. MGR Real Estate, Inc. has not made any investigation, and makes nowarranty or representation with respect to the income or expenses for the subjectproperty, the future projected financial performance of the property, the size andsquare footage of the property and improvements, the presence or absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state andfederal regulations, the physical condition of the improvements thereon, or financialcondition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained fromsources we believe reliable; however, MGR Real Estate, Inc. has not verified, andwill not verify, any of the information contained herein, nor has MGR Real Estate,Inc. conducted any investigation regarding these matters and makes no warranty orrepresentation whatsoever regarding the accuracy or completeness of theinformation provided. All potential buyers must take appropriate measures to verifyall of the information set forth herein. Prospective buyers shall be responsible fortheir costs and expenses of investigating the subject property.
Exclusively Marketed by:
Jerry Tomeo Senior Associate CommercialLic: [email protected]
Brandon Navarette Senior Commercial AssociateLic: 01968090
bnavarettte951-313-0956
@mgrrealestate.com
3800 E. Concours. Suite 350, Ontario, CA 91764 powered by CREOP