multi-tenant industrial for sale · 714.564.7104 | [email protected]. bre #00870947. no warranty...

RANDY KOBATA, Principal818.223.4383 | [email protected]

BRE # 01311816

ALLEN C. BUCHANAN, SIOR, Principal714.564.7104 | [email protected]

BRE #00870947

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

MULTI-TENANT INDUSTRIAL FOR SALECORPORATE ID #01191898

CLAY STEVENS, Associate818.933.0311 | [email protected]

BRE # 01938352

15201OXNARD STV A N N U Y S , C A

MULTI-TENANT INDUSTRIAL FOR SALE15201 Oxnard Street, Van Nuys CA 91411

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15201 OXNARD STREET

EXECUTIVE SUMMARY ........................................................................................... 5

PROPERTY DESCRIPTION ...................................................................................... 7

FINANCIAL ANALYSIS ........................................................................................... 10

LOCATION OVERVIEW .......................................................................................... 14

TABLE OF CONTENTS

Lee & Associates® - LA North/Ventura • 15250 Ventura Blvd, #100, Sherman Oaks, CA 91403 • 818.986.9800 • Corp ID #01191898No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

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DISCLAIMER

INFORMATIONAL BROCHURE

The material contained herein is confidential and is presented strictly as information for the exclusive use of the prospective purchaser. Acceptance of this brochure by the prospective purchaser constitutes an agreement not to divulge, share or distribute the information to any other party, except legal counsel and financial advisors, without the specific written authorization of the Seller or Lee & Associates.

The materials herein have been obtained from sources believed to be reliable. Nevertheless, the Seller nor Lee & Associates make no warranties or representations, expressed or implied, concerning the accuracy or completeness of this information. This document is submitted subject to errors, omissions, changes in price; rental, market or otherwise and withdrawal without notice.

No broker or agent, other than Lee & Associates Seller’s exclusive representative, is authorized to present this investment opportunity.

Interested buyers should be aware that the owner (the “Seller”) of the property known as 15201 Oxnard Street, Van Nuys, CA 91411 (“Property”) is selling the property in “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE, EXCEPT WARRANTY OF TITLE. Prior to and/or after contracting to purchase as appropriate, Buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of Buyer’s choosing.

Buyer shall not be entitled to, and should not, rely on the Seller, or its agents as the (i) the quality, nature, adequacy and physical condition of the Property including, but not limited to the structural element, foundation, roof, appurtenances, access, landscaping, parking facilities and the electrical, HVAC, plumbing, sewage, and utility systems, facilities and appliances. (ii) the quality, nature adequacy and physical condition of soils and geology and the existence of ground water, (iii) the existence, quality, nature adequacy and physical condition of utilities serving the Property, (iv) the development potential of the Property, its habitability, merchantability, or fitness, suitability or adequacy of the Property for any particular purpose, (v) the zoning or the legal status of the Property, (vi) the Property’s or its operations’ compliance

with applicable codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of any governmental, quasi-governmental entity or any other person or entity, (vi) the quality of any labor and materials, (viii) the compliance of Property with any environmental protection, pollution or land use laws, rules regulations, orders or requirements including but not limited to those pertaining to the handling, generating, storing or disposing of any hazardous materials, and (ix) except as expressly provided otherwise in an executed contract of sale, the condition of title and the nature, status and extent of any right-of-way, lease, right of redemption, possession, lien, encumbrance, license, reservation, covenant, condition restriction and any other matter affecting the title. Although Seller’s predecessors may have performed work, or contracted for work performed by third parties in connection with the Property, the Seller, and its agents shall not be responsible to Buyer or any successor on account of any errors or omissions or construction defects of such predecessors and/or third parties.

The Seller reserves the right to withdraw the property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent, (ii) incorporated in a formal written contract of purchase and sale to be prepared by or on behalf of the Seller and executed by both parties; and (iii) approved by Seller, and such other parties who may have an interest in the Property. Neither the prospective Buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and constitute the sole agreement of the parties.

The Seller shall not be responsible for the payment of any commission, finder’s fee or other form of compensation to Buyer’s broker unless agreed to in a separate commission agreement between all parties.

SELLER AND ITS AGENTS MAKE NO REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION.

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EXECUTIVE SUMMARY


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EXECUTIVE SUMMARY

Executive Summary

Lee & Associates, as exclusive advisors to the Seller, are pleased to present a rare multi-tenant auto/industrial building in one of the most sought-after locations of Van Nuys. This M3 zoned property is located on Oxnard Street, just to the East of Sepulveda Boulevard; and is Sherman Oaks adjacent. Furthermore, the property is located just over a half of a mile from the 405-freeway entrance with additional access to the nearby 101 and 118 freeways. 15201 Oxnard Street offers huge upside for an investor who is looking to take advantage of the below market rents, or for an Owner/User to take over the vacant space and the flexible short term leases on the other units.

Offering Highlights

• Rare multi-tenant auto center

• Below market rents with space available for an Owner/User

• Prime Sherman Oaks-adjacent location

• Completely freestanding and gated

• Extremely flexible income situation with significant upside in income

• Prime for repositioning

Property Description

The offering is a single-story multi-tenant industrial building totaling approximately 12,810 square feet on an approximate 27,103 square foot M3 zoned lot. The building offers an investor or owner/user the opportunity to purchase an income producing asset in a very desirable part of the San Fernando Valley. The property is surrounded by a mix of office buildings, big box retail, neighborhood parks and other like kind industrial buildings It is directly adjacent to the Metro Bus Rapid Transit. The property’s location in a state enterprise zone provides employment and economic incentives for Users/Buyers including, but not limited to, tax credits, lower parking ratios for office, business, retail, trade schools, and R & D facilities allowing for a multitude of uses including medical office and other traditionally high parking requirement uses.

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PROPERTY DESCRIPTION


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PROPERTY DESCRIPTION

Property Overview

Sale Price: $4,250,000

Address: 15201 Oxnard St Van Nuys, CA 91411

APN: 2242-026-005

Product Type: Single Story Multi-Tenant Industrial Building

Building SF: 12,810 SF

Parcel Size: 27,103 SF

Ceiling Height: 13 Feet

Zoning: LA-M3 Z1-2374 Los Angeles State Enterprise Zone

Year Built: 1974

Drive Ins: (13) total - 8’W x 12’H

Freeway Access: Access to 405 and 101 freeways less than 1 mile


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15201 OXNARD STREET

PROPERTY DESCRIPTION Parcel Map

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FINANCIAL ANALYSIS


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15201 OXNARD STREET

FINANCIAL ANALYSIS

INVESTMENT HIGHLIGHTS

� Rents Drastically Under Market

� Rare M3 Zoned Property

� Strong Market Dynamics

� Prime Location in Van Nuys

� Close Proximity to Retail Amenities and 101 & 405 Freeways

� All NNN Leases

INVESTMENT SUMMARY

� Occupancy: 87% (8 Units)

� Units: 9 Units

� Price: $4,250,000 (±$331.77 PSF)

� Blended Proforma NOI: $189,316.08*

� Blended Proforma CAP Rate: 4.45%

*Income includes existing income and blended vacant unit (Unit C) at proforma rent.

PROPERTY SPECIFICATIONS

� Project Size: 12,810 SF

� Lot Size: 27,103 SF

� Zoning: M3

� Parking: 1.46/1,000

� Loading: Ground Level

� Clear Height: 13 Feet

� Year Built: 1974


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FINANCIAL ANALYSIS

Reimburseable ExpensesCleaning & Maintenance $3,600Insurance $4,015Property Taxes $38,890.56Trash $3,749.98Electric $6,235.23Water & Sewer $6,032.45Total $62,523

IncomeCurrent Rental Income $155,716.08Vacant Unit (C) Proforma $33,600Total $189,316.08

Blended Proforma NOI $189,316.08Blended Proforma CAP @ $4,250,000 Sale Price 4.45%

Full Proforma NOI $266,274Full Proforma CAP @ $4,250,000 Sale Price 6.30%

*All leases are NNN with all operating expenses fully reimburseable.


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15201 OXNARD STREET

RENT ROLL

Unit Tenant SF Monthly Rent PSF NNN Lease Expiration

A Circle Star 1,980 $2,937.80 $1.48 $0.39 9/15/20203% annual

B Smog M All 900 $1,149.00 $1.28 $0.39 5/1/20213% annual

C Vacant 1600 $2,800.00$1.75 $0.39

D GTO Auto Repair 900 $1,296.00 $1.44 $0.39 Month to Month

E Sina Motors 1800 $2,708.00 $1.50 $0.39 5/1/2020

F Mana Auto Repair 900 $1,029.00 $1.14 $0.39 11/1/20183% increases

G / H / I West Coast Body 4,212 $3,856.54 $0.92 $0.39 12/1/2020

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LOCATION OVERVIEW


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15201 OXNARD STREET

PROPERTY DESCRIPTION Radius Map


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LOCATION OVERVIEW Amenities Aerial


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15201 OXNARD STREET

LOCATION OVERVIEW Aerial View


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LOCATION OVERVIEW Aerial View

Randy Kobata Principal 818.223.4383 [email protected] License # 01311816

Clay Stevens Associate 818.933.0311 [email protected] License #01938352

Lee & Associates®-LA North/Ventura, Inc. • Corporate ID # 01191898 • A Member of the Lee & Associates Group of Companies15250 Ventura Boulevard, Suite 100, Sherman Oaks, California 91403

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

For additional information and to schedule a tour of the property, please contact:

Allen C. Buchanan, SIOR Principal 714.564.7104 [email protected] License #00870947

multi-tenant industrial for sale · 714.564.7104 | [email protected]. bre #00870947. no warranty...

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