retail redondo beach...redondo beach is a coastal city in los angeles county, california. it is one...

Listed By:

Ryan SharpeVice PresidentLicense No. 01940376+1 310 893 [email protected]

Vantis Capital Advisors2 Park PlazaSuite 300Irvine, CA 92614www.vantiscap.com*LA office coming soon

RETAIL REDONDO BEACH2207 Artesia Boulevard | Redondo Beach, CA

Vantis Capital Advisors | www.vantiscap.com 2207 Artesia Boulevard | Redondo Beach, CA | page 2

CONFIDENTIALITY & DISCLAIMER

The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the lease of this Property and is not to be used for any other purpose. This information should not, under any circumstances, be disclosed to any third party without the written consent of Vantis Capital Advisors, or Owner, or used for any purpose whatsoever other than to evaluate the possible lease of the Property. The Memorandum contains select information that pertains to the Property and the Owner, does not purport to be all-inclusive or contain all or part of the information which prospective investor may require to evaluate a lease of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable but has not been verified for accuracy, completeness, or fitness for any purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions related to the general economy, market conditions, compe-tition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. Vantis Capital Advisors and the Owner disclaim any, and all liability for representations or warranties expressed or implied, contained in or omitted from this Memorandum or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that

may be made to it in any final, fully executed and delivered Real Estate Lease Agreement between it and Owner.

The information contained herein is subject to change without notice, and the recipient of these materials shall not look to Owner or Vantis Capital Advisors nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Memorandum and are advised and encouraged to

conduct their own comprehensive review and analysis of the Property.

NON-ENDORSEMENT NOTICE

Vantis Capital Advisors(“VCA”) is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee iden-tified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affili-ation with, or sponsorship or endorsement by, said corporation of VCA, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of VCA, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT

YOUR VANTIS CAPITAL ADVISORS AGENT FOR MORE DETAILS.

TABLE OF CONTENTSI. Investment Overview

• Property Overview• Investment Summary

II. Comparables • Sales and Rent Comparables

III. Area Overview • Aerial Photo• Neighborhood Overview

IV. Demographics


INVESTMENT OVERVIEWProperty Overview

PROPERTY ADDRESS 2205 ARTESIA BOULEVARDREDONDO BEACH, CA 90278

PRICE $2,380,000

PRO-FORMA CAP RATE* 5.74%

YEAR BUILT / RENOVATED 1956 / 2008

GROSS LEASABLE AREA ±5,056 SF

LOT SIZE ±12,967 SF (0.30 AC)

PRICE PER SQUARE FOOT BUILDING $470.73

PRICE PER SQUARE FOOT LAND $183.54

PARKING SPACES 18

HIGHLIGHTS• Own Versus Lease – Excellent opportunity for an owner/user to occupy more than

half of the building and take advantage of historically low SBA financing.

• Dense Retail Corridor – Subject property is in close proximity to a brand-new CVS and Grocery Outlet. The property is also surrounded by tenants such as The Sofa Company, Taco Bell, Dollar Tree, Carl’s Jr., and Pep Boys.

• Well Located and Visible – About 100 feet of frontage on Artesia Blvd (40,000+ cars per day)

• Dense Population & Affluent Demographics – There are more than 566,458 people in a 5-mile radius, as well as an average household income exceeding $112,000 within a 1 Mile Radius.

• Improving Retail District - Subject property is down the street from the South Bay Galleria, which will soon undergo a +/- $900M makeover. It will include a hotel, apartments, retail, office, and a skate park.

• Pedestrian Friendly Street – The city of Redondo Beach is improving the pedestrian friendliness of North Redondo Beach by planning a $800k+ greenbelt renovation. This will include a park, bike path, and parking lot. This project will be located three blocks away from the subject property.

* Assuming a market rent of $2.25/sf NNN


Vantis Capital Advisors has been retained as the exclusive advisor to offer for sale a 100% fee simple interest in 2207-2209 Artesia Boulevard in Redondo Beach. The property is a 5,056 square foot building situated on 12,967 square feet of land with 18 parking spaces. This is a rare opportunity for an Owner-User looking for a site in the South Bay. An Owner-User has the opportunity to take advantage of a very favorable SBA loan program if they are looking to occupy over half of the building. This offering will also appeal to an investor looking to re-tenant the property with one or more tenants. At the market rent of $2.25 a square foot per month, an investor would be able to achieve a 5.74% capitalization rate along the coast. Additionally, the building was heavily renovated in 2008. The remodel included a new roof, a new facade with new glass, and a new HVAC system. The remodel also included new awnings, new electrical, and recently undergone seismic retrofitting.

INVESTMENT OVERVIEWInvestment Summary


COMPARABLESSales Comparables

# PROPERTY YEAR BUILT BUILDING SF BUILDING $/SQ FT LOT $/SQ FT COE PRICE

1 5202 ARTESIA BLVDREDONDO BEACH, CA 1952 3,200 $507.81 $248.70 3/7/2019 $1,625,000

2 2525 ARTESIA BLVDREDONDO BEACH, CA 2018 1,550 $2,709.68 $321.40 1/18/2018 $4,200,000

3 1500 AVIATION BLVDREDONDO BEACH, CA 1940 1,320 $492.42 $373.13 7/25/18 $650,000

4 607 S PACIFIC COAST HWYREDONDO BEACH, CA 1960 4,464 $575.27 $235.81 4/13/18 $2,568,000

5 1802-1820 S PACIFIC COAST HWY 2003 22,291 $468.60 - 12/21/18 $2,178,500

AVERAGE 1975 6,565 $950.76 $294.76 $2,244,300

SUBJECT PROPERTY 1956 5,056 $470.73 $183.54 - $2,380,000


COMPARABLESLease Comparables

# PROPERTY SF LEASED MONTHLY RENTPER SF

ANNUAL RENTPER SF LEASE TYPE

1 1501-1505 AVIATION BLVDREDONDO BEACH, CA 1,920 $4.00 $48.00 NNN

2 1101-1191 AVIATION BLVDREDONDO BEACH, CA 1,100 $2.85 $34.20 NNN

3 1312 AVIATION BLVDREDONDO BEACH, CA 1,463 $2.75 $33.00 NNN

4 2515 ARTESIA BLVDREDONDO BEACH, CA 860 $3.50 $42.00 NNN

5 2772 ARTESIA BLVDREDONDO BEACH, CA 1,150 $3.25 $39.00 NNN

6 1040 AVIATION BLVDREDONDO BEACH, CA 500 $3.00 $36.00 NNN

7 1951 ARTESIA BLVDREDONDO BEACH, CA 950 $2.30 $27.60 NNN

8 1951 ARTESIA BLVDREDONDO BEACH, CA 2,500 $2.25 $27.00 NNN

9 1312 AVIATION BLVDREDONDO BEACH, CA 1,463 $2.50 $30.00 NNN

10 2215-2221 ARTESIA BLVDREDONDO BEACH, CA 1,200 $2.35 $28.20 NNN

AVERAGE 1,311 $2.88 $34.50


INVESTMENT OVERVIEWAerial Overview

ARTE

SIA

BLVD

- 40

,748

VPD

ALONDRA GOLF COURSE


AREA OVERVIEWNeighborhood Overview

Redondo Beach is a coastal city in Los Angeles County, California. It is one of three adjacent beach cities along the southern portion of Santa Monica Bay. According to the 2010 United States Census, the total population is 66,748 residents with a median household income of $99,496. The Los Angeles Times also stated that the real estate prices have increased 20% per year between 1999 and 2005. Properties within walking distance to the beach routinely sell for over $1,000,000 US Dollars.

Due to its location to the Pacific Ocean, Redondo Beach is a major tourist attraction with thousands visiting there sandy beaches, municipal pier, and famous boardwalk. The marina, harbor and pier complexes are planned centers of activity that host seafood restaurants, touristy bars, and smaller shops.


AREA OVERVIEWDemographics

5-M I L E

1-MILE

3-MILE

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE

POPULATION:

2024 PROJECTION 40,457 242,917 541,260

2019 ESTIMATE 40,697 241,230 536,031

2010 CENSUS 43,269 239,883 525,149

2019 POPULATION BY RACE:

WHITE 29,886 168,045 343,486

BLACK 1,594 13,856 56,654

AM. INDIAN & ALASKAN 333 2,004 5,491

ASIAN 6,478 45,292 106,197

HAWAIIAN & PACIFIC ISLAND 209 1,536 3,731

Other 2,196 10,497 20,472

Households:

2024 Projection 15,183 91,920 197,031

2019 Estimate 15,343 91,369 195,103

2010 Census 16,709 91,417 191,171

Growth 2019 - 2024 -1.04% 0.60% 0.99%

Growth 2010 - 2019 -8.18% -0.05% 2.06%

2019 Avg Household Income $135,622 $124,720 $106,400

2019 Med Household Income $112,131 $95,245 $78,220

Vantis Capital Advisors is a full-service brokerage company that focuses on aligning ourselves with our clients to build long-term investment strategies. In addition to advisory services, Vantis Capital Advisors also assists their clients in the acquisition, disposition, and leasing of Commercial Real Estate. Our specialty ranges from retail, office and industrial properties to multifamily and mixed use.

With nearly 15 years of experience in the industry, Vantis Capital Advisors has a unique advantage in providing our clients with extensive experience combined with a culture of utilizing the latest technologies that are available in Commercial Real Estate. The combination of experience and the utilization of technologies gives us the ability to provide efficiency, transparency, and accountability for our clients in a real-time environment.

The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.

Ryan SharpeVice PresidentLicense No. 01940376+1 310 893 [email protected]

Vantis Capital Advisors2 Park PlazaSuite 300Irvine, CA 92614www.vantiscap.com*LA office coming soon

retail redondo beach...redondo beach is a coastal city in los angeles county, california. it is one...

Documents