pws laundry - loopnet · renz & renz george l. renz, ccim [email protected] 408.846.1031 pws...
TRANSCRIPT
Renz & RenzGeorge L. Renz, [email protected]
PWS Laundry994 South 1st Street, San Jose, CA 95110
$2,045,000 | 4.5% Cap Rate
PWS Laundry | 994 South 1st Street, San Jose, CA 95110
Summary of Salients
PWS Laundry994 South 1st Street, San Jose, CA 95110
List Price $2,045,000
Cap Rate 4.5%
Rent $7,667.13 Monthly | $92,005.56 Annually
Rent Increases Rare 20% every 5 years
Zoning M1
Building Size 4,625 SqFt
Lot Size 6,098 SqFt
Property Highlights
• Net Leased Single Tenant
• Landlord responsible for Roof & Structure (New Roof 2019)
• Rare 20% Rent Increases every 5 years
• Roof Replacement in 2019
• Reasonable Rent
• Major improvements made by Tenant
• 8 years Remaining on Lease
PWS Laundry | 994 South 1st Street, San Jose, CA 95110
Tenant Overview
Tenant Summary
Tenant Trade Name PWS Laundry
Current Rent $7,667.13 Monthly | $92,005.56 Annually
Landlord Responsibilities Roof & Structure
Lease Comencement Date 2006
Term Remaining on Lease 8 years
Rental Increases 20% Increase with each Option exercised
Options Three 5-year Options
Lease Increases & Option BreakdownMonthly Rent Annual Rent
Current Term May 1, 2017 - April 30, 2022 $7,667.13 $92,005.56
May 1, 2022 - April 30, 2027 $9,200.55 $110,406.67
Option 1 May 1, 2027 - April 30, 2032 $11,040.66 $132,487.92
Option 2 May 1, 2032 - April 30, 2037 $13,248.79 $158,985.48
Option 3 May 1, 2037 - April 30, 2042 $15,898.54 $190,782.48
About PWS, Inc.PWS, Inc. operates as a distributor, developer, and broker to the commercial laundry industry. It sells commercial laundry parts and replacement parts; laundry carts and baskets, trucks, detergents and soaps, scales, cart and truck accessories, hampers and racks, bags, and miscellaneous laundry supplies; and laundromat furniture and signs. The company also sells new and existing laundromat equip-ment, multi-housing laundry equipment, on-premise laundry equip-ment, used commercial laundry equipment, and coin changers. In addition, it offers remodeling, design, and build-to-suit services; and equipment sales, financing, leasing, and revenue sharing services for laundry and equipment purchases. Further, the company sells commercial laundry equipment to laundromats, apartment houses, hotels, motels, camp grounds, hospitals, schools, gyms, and other on-premise commercial laundry users through its sales agents in the United States. Furthermore, it develops laundromats, coin laundries, and laundries. The company also provides laundry supplies and parts online. PWS, Inc. was founded in 1968 and is based in South Gate, California. The company has additional offices in Los Angeles, San Francisco, and San Diego, California; and Las Vegas, Nevada. PWS, Inc. operates as a subsidiary of PWS Investments, Inc. PWS, Inc. has built and sold thousands of Laundry Facilities over the last 50 years. They currently own and operate 36 facilities.
***information gathered from the Bloomberg website: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4420172
PWS Laundry | 994 South 1st Street, San Jose, CA 95110
Location Overview
Households1 Mile 3 Miles 5 Miles
2010 10,572 83,276 210,196
2018 11,867 91,413 224,778
2023 (projected) 12,614 96,921 234,528
2018 Average Size 2.92 3.05 3.12
Population1 Mile 3 Miles 5 Miles
2010 34,500 261,662 664,127
2018 38,369 287,687 716,656
2023 (projected) 40,589 304,640 749,517
2018 Households Income1 Mile 3 Miles 5 Miles
Median Income $49,868 $67,973 $80,199
Average Income $74,044 $99,951 $109,205
Per Capita Income $24,624 $32,638 $34,930
ABOUT SAN JOSESan Jose is an economic, cultural, and political center of the Silicon Valley, and the largest city in Northern California (both in population and area). San Jose is the county seat of Santa Clara County which is the most afflu-ent county in California. San Jose’s location within the booming high tech industry, as a cultural, political, and economic center has earned the city the nickname “Capital of Silicon Valley”. San Jose is one of the wealthiest major cities in the United States and the world, and has the highest GDP per capita in the world (after Zurich, Switzerland, and Oslo, Norway), according to the Brookings Institution. San Jose has the most expensive housing market in the world, according to the 2017 Demographia Interna-tional Housing Affordability Survey. Major global tech companies includ-ing Cisco Systems, eBay, Adobe Systems, PayPal, Brocade, Samsung, Acer, Hewlett Packard Enterprise, and Western Digital maintain their headquar-ters in San Jose.
The City’s well-known communities within San Jose include Japantown, Rose Garden, Midtown San Jose, Willow Glen, Naglee Pak, Burbank, Win-chester, Alviso, East Foothills, Alum Rock, Communications GHills, Little Portugal, Blossom Valley, Cambrian, Almaden Valley, Silver Creek Valley, Evergreen Valley, Edenvale, Santa Teresa, Seven Trees, Coyote Valley, and Berryessa. These areas are filled with culture, innovative tech companies, and beautiful parks.
Notable landmarks in San Jose include Children’s Discovery Museum of San Jose, History Park at Kelley Park, Cathedral Basilica of St. Joseph, Pla-za de César Chávez, Dr. Martin Luther King, Jr. Library, Mexican Heritage Plaza, Rosicrucian Egyptian Museum, Lick Observatory, Hayes Mansion, SAP Center at San Jose, Hotel De Anza, San Jose Improv, Sikh Gurdwara of San Jose, Peralta Adobe, San Jose Municipal Stadium, Spartan Stadium, Japantown San Jose, Winchester Mystery House, Raging Waters, Circle of Palms Plaza, San Jose City Hall, San Jose Flea Market, Oak Hill Memorial Park, San Jose electric light tower, and The Tech Museum of Innovation.
***information gathered from the Wikipedia website:https://en.wikipedia.org/wiki/San_Jose,_California
PWS Laundry | 994 South 1st Street, San Jose, CA 95110
Surrounding Area Map
PWS Laundry | 994 South 1st Street, San Jose, CA 95110
EXCLUSIVELY LISTED BY
GEORGE L. RENZ, CCIM Renz & Renz Investment & Commercial Brokerage 408-846-1031office 408-846-1042 fax [email protected] BRE License # 00854816
DISCLOSURE & NON-DISCLOSURE Information contained herein was obtained from the owner or sources we deem reliable. We have no reason to doubt its accuracy, but do not guarantee it. Prospective buyers should investigate and verify all information pertaining to the property. Recievers of this information commit to using it solely for it’s purpose and not to disseminate Seller or Tenant information for any other use.
PWS Laundry | 994 South 1st Street, San Jose, CA 95110
Aerial Map
PWS Laundry | 994 South 1st Street, San Jose, CA 95110
EXCLUSIVELY LISTED BY
GEORGE L. RENZ, CCIM Renz & Renz Investment & Commercial Brokerage 408-846-1031office 408-846-1042 fax [email protected] BRE License # 00854816
DISCLOSURE & NON-DISCLOSURE Information contained herein was obtained from the owner or sources we deem reliable. We have no reason to doubt its accuracy, but do not guarantee it. Prospective buyers should investigate and verify all information pertaining to the property. Recievers of this information commit to using it solely for it’s purpose and not to disseminate Seller or Tenant information for any other use.