High Exposure Retail/Office Space Located on Blackstone Ave

Highlights:

• $52K In Rents ($15/SF/Yr) & 7.14% Cap Rate After Stabilized
• Functional Hard To Find Small Spaces | Easy To Rent
• Long Term Tenants w/ Upside Potential Via Leasing
• Quality Roof, Working HVAC's, & Functional Floorplans
• Well-Known Freestanding Building w/ Blackstone Ave Exposure
• Private Lit Parking Lot + Street Parking | Great Visibility
• Convenient Location Between CA-99 and CA-180
• Busy & Established Corridor w/ Quick Access to Downtown
• Close Proximity to Major Traffic Generators (CA-180)
• Great Access & Visibility w/ Easy Highway Access
• Against Newly Upgraded Belmont Avenue w/ Bus Stop Access
• Quality Construction | Well Maintained | Economical Spaces
• Investment Opportunity: Leased Freestanding Commercial Building
• Ample Parking, Quality Tenants, & Great Exposure
• Easy Access | Separate Suites | Multiple Configurations
• Requires Little Management or Maintenance

Description:

Owner/User or Value add investment opportunity: Freestanding building totaling ±3,480 SF on ±0.165 AC of retail or office spaces off Blackstone Ave & CA-180. Offers (4) economical ±1,000 SF separate spaces with unique addresses leased to long-term tenants on Modified Gross lease forms. Value-add opportunity with actual rents of $24,400/year collected plus upside potential. Unique investment offering where an owner/user can occupy the vacant and/or MTM units with easy-to-rent small spaces within an under-built market offering a strong need for these type of spaces. After leasing the vacancies and extending leases, the realistic 6-12 month stabilized gross annual income is $52,200 (2.14x existing rent). Once stabilized, the deal offers a 7.14% CAP rate and a 1.88 Debt Coverage Ratio when leveraged with 30% down!

The value-add opportunity consists of leasing (1) vacancies of 1,030 SF, addressing the under-market rent of the (2) MTM tenants, extending lease length over the next 6-12 months, and charging the customary "pass-through" expenses of Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger.
Unique flexibility offering configurations ranging from ±750 – 1,030 SF with the ability to combine spaces to create larger units via existing connecting doors between the units. Clean spaces with newer paint, hard-surface flooring, LED lighting, newer HVAC units, quality roof (zero leaks), & new doors/hinges/fixtures! Access to high speed Internet, separate meters, private ADA restrooms, private entrances (w/ secured entry), outdoor LED lights during the night hours, and consists of demising walls (can be combined). Building offers a full exterior lit private rear parking, excellent existing signage, great visibility & easy access to CA-180 ramps.

Office building strategically located off CA-41 and N Blackstone Ave. Location is at the intersection of Belmont Ave & N Blackstone Ave. Just North of E McKenzie Ave, East of N Fulton Street, West of N Fresno Street and South of E Olive Ave. Centrally located to all major freeways and surrounded by many national retailers including Richard's Prime Rib & Seafood, Harley-Davidson, McDonalds, Carl's Jr, Community Regional Medical Center, Starbucks and many more!

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