181 North Raymond Avenue Fullerton, CA 92831
E X C L U S I V E
R E T A I L
O F F E R I N G
U SER / R EDEVELOPMENT O PPORTUNITY F ULLERTON D AIRY D RIVE -T HRU M ARKET 181 North Raymond Avenue Fullerton, CA 92831
OFFERING SUMMARY INVESTMENT HIGHLIGHTS
Price
Corner Lot with Drive-Thru
Down Payment
Includes Real Estate, Business and Type 21 Liquor License
Gross Leasable Area (GLA)
Traffic Signal Budgeted for 2017
Large Pylon Sign
Upside in Utilizing 3,060 SF Building
Adjacent to 30,000 SF Strip Center
Business Running for 26 Years
Strong Redevelopment Potential
Price per Square Foot (GLA) Year Built Lot Size Cap Rate - Current
$1,100,000 (100%) $1,100,000 4,110 $267.64 1962 0.34 AC -1.16%
Cap Rate - Pro Forma
7.63%
Total Return - Current
-1.16%
Total Return - Pro Forma
Listed by:
7.63%
M ATTHEW G. HARDKE Associate Tel: (949) 419-3224 Fax: (949) 419-3210 License: CA 01946266 [email protected] www.marcusmillichap.com/MatthewGHardke
Offices Nationwide
1 9 8 0 0 M a c Ar t h u r B o u l e v a r d , S u i t e 1 5 0 Irvine, CA 92612 • Tel: (949) 419-3200 Fax: (949) 419-3210
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: W0100083 Property ID: 1988655)
181 NORTH R AYM OND AVENUE • FULLERTON, C A 92831 OPERATING DATA
INVESTMENT OVERVIEW This iconic Alta Dena drive-thru market is located at the corner of Raymond and Wilshire in Fullerton, California. Currently occupied by an owner-operator, the business value is included with the real estate. The two buildings on the property total approximately 4,110 square feet. Fullerton Dairy sits on a 0.34 AC lot and is adjacent to a 30,000 square foot shopping strip and 40-unit apartment complex. It is across the street from a Walgreens and AutoZone, surrounded by multifamily housing and singlefamily residences. Furthermore, a sizeable mixed-use development is being considered directly across the soonto-be signalized intersection. The business that generates approximately $360,000 in sales is being offered with the real estate. There is significant upside for an entrepreneurial buyer to utilize over 3,000 square feet of storage space that could be improved to expand the business or generate rental income. At market rents, the pro forma cap rate would exceed 7.6%.
Income Current Base Rent Occupied Space $0 Vacant Space at Market Rents $0 (4,110 SF) Gross Potential Rent $0 Expense Reimbursements $0 Other Income $10,800 Gross Potential Income $10,800 Effective Gross Income $10,800 Total Expenses $23,563 Net Operating Income ($12,763) Total Return -1.16% / -$12,763 EXPENSES Real Estate Taxes (1.0578% + $337) 11,973 Insurance 2,500 Utilities 9,090 Total CAM $9,090 Total Expenses $23,56 3 Expenses per SF $5.73
Pro Forma $0 $73,158 $73,158 $23,563 $10,800 $107,521 $107,521 $23,563 $83,958 7.63% / $83,958 11,973 2,500 9,090 $9,090 $23,563 $5.73
19800 MacArthur Boulevard Suite 150 Irvine, CA 92612 Tel: (949) 419-3200 Fax: (949) 419-3210 www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: W0100083 Property ID: 1988655)
R E T A I L
O F F E R I N G
U SER / R EDEVELOPMENT O PPORTUNITY F ULLERTON D AIRY D RIVE -T HRU M ARKET 181 North Raymond Avenue Fullerton, CA 92831
OFFERING SUMMARY INVESTMENT HIGHLIGHTS
Price
Corner Lot with Drive-Thru
Down Payment
Includes Real Estate, Business and Type 21 Liquor License
Gross Leasable Area (GLA)
Traffic Signal Budgeted for 2017
Large Pylon Sign
Upside in Utilizing 3,060 SF Building
Adjacent to 30,000 SF Strip Center
Business Running for 26 Years
Strong Redevelopment Potential
Price per Square Foot (GLA) Year Built Lot Size Cap Rate - Current
$1,100,000 (100%) $1,100,000 4,110 $267.64 1962 0.34 AC -1.16%
Cap Rate - Pro Forma
7.63%
Total Return - Current
-1.16%
Total Return - Pro Forma
Listed by:
7.63%
M ATTHEW G. HARDKE Associate Tel: (949) 419-3224 Fax: (949) 419-3210 License: CA 01946266 [email protected] www.marcusmillichap.com/MatthewGHardke
Offices Nationwide
1 9 8 0 0 M a c Ar t h u r B o u l e v a r d , S u i t e 1 5 0 Irvine, CA 92612 • Tel: (949) 419-3200 Fax: (949) 419-3210
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: W0100083 Property ID: 1988655)
181 NORTH R AYM OND AVENUE • FULLERTON, C A 92831 OPERATING DATA
INVESTMENT OVERVIEW This iconic Alta Dena drive-thru market is located at the corner of Raymond and Wilshire in Fullerton, California. Currently occupied by an owner-operator, the business value is included with the real estate. The two buildings on the property total approximately 4,110 square feet. Fullerton Dairy sits on a 0.34 AC lot and is adjacent to a 30,000 square foot shopping strip and 40-unit apartment complex. It is across the street from a Walgreens and AutoZone, surrounded by multifamily housing and singlefamily residences. Furthermore, a sizeable mixed-use development is being considered directly across the soonto-be signalized intersection. The business that generates approximately $360,000 in sales is being offered with the real estate. There is significant upside for an entrepreneurial buyer to utilize over 3,000 square feet of storage space that could be improved to expand the business or generate rental income. At market rents, the pro forma cap rate would exceed 7.6%.
Income Current Base Rent Occupied Space $0 Vacant Space at Market Rents $0 (4,110 SF) Gross Potential Rent $0 Expense Reimbursements $0 Other Income $10,800 Gross Potential Income $10,800 Effective Gross Income $10,800 Total Expenses $23,563 Net Operating Income ($12,763) Total Return -1.16% / -$12,763 EXPENSES Real Estate Taxes (1.0578% + $337) 11,973 Insurance 2,500 Utilities 9,090 Total CAM $9,090 Total Expenses $23,56 3 Expenses per SF $5.73
Pro Forma $0 $73,158 $73,158 $23,563 $10,800 $107,521 $107,521 $23,563 $83,958 7.63% / $83,958 11,973 2,500 9,090 $9,090 $23,563 $5.73
19800 MacArthur Boulevard Suite 150 Irvine, CA 92612 Tel: (949) 419-3200 Fax: (949) 419-3210 www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: W0100083 Property ID: 1988655)
