Oakland Housing Authority RFB #07-735 Property location: 1617- 50 TH Avenue, Oakland, CA 94601
4411-4425 FOOTHILL BLVD. OAKLAND, CA 94601...Janitorial (2016 Actual) $5,400 Oakland Business Tax (%...
Transcript of 4411-4425 FOOTHILL BLVD. OAKLAND, CA 94601...Janitorial (2016 Actual) $5,400 Oakland Business Tax (%...
www.theprescottcompany.com
4411-4425 FOOTHILL BLVD.
OAKLAND, CA 94601
Price: $4,500,000
Nolan Jones Broker | Real Estate Services
510.398.1622
[email protected]#01509417
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
The information contained in this marketing brochure (“Materials”) is proprietary and confidential. It is
intended to be reviewed only by the person or entity receiving it from The Prescott Company (“Agent”).
The Materials are intended to be used for the sole purpose of preliminary evaluation of the subject
property (“Property”) for potential purchase.
The Materials have been prepared to provide unverified summary financial, physical, and market
information to prospective buyers to enable them to establish a preliminary level of interest in potential
purchase of the Property. The Materials are not to be considered fact. The information contained in the
Materials is not a substitute for thorough investigation of the financial, physical, and market conditions
relating to the Property.
The information contained in the Materials has been obtained by Agent from sources believed to be
reliable, however, no representation or warranty is made regarding the accuracy or completeness of the
Materials. Agent makes no representation or warranty regarding the Property, including but not limited to
income, expenses, or financial performance (past, present, or future); size, square footage, condition, or
quality of the land and improvements; presence or absence of contaminating substances (PCB’s, asbestos,
mold, etc.); Compliance with laws and regulations (local, state, and federal); or, financial condition or
business prospects of any tenant (tenant’s intentions regarding continued occupancy, payment of rent,
etc). Any prospective buyer must independently investigate and verify all of the information set forth in the
Materials. Any prospective buyer is solely responsible for any and all costs and expenses incurred in
reviewing the Materials and/ or investigating and evaluating the Property.
By receiving the Materials you are agreeing to the Confidentiality and Disclaimer set forth herein.
All Property showings are by appointment only and must be coordinated through the Agent.
confidentiality & disclaimer
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
table of contents
property overview 4property narrative 4
property summary 4
property photos 5
location overview 8regional and local map 8
local context 9
parcel map 10
operating summary 11financial overview 11
rent roll 12
rent roll with terms 12
pricing 13
property overview
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
APN 035-2402-008-01
Property Type Strip Commercial Center
Year Built 2005
Units 9 (Commercial Units)
Stories 1.00
Gross Rentable SF ± 9,518 SF
Parcel Size ± 20,000 SF
Parking Parking Lot
Occupancy Rate 100%
property summary
property narrative
The High Street Plaza offers the opportunity to purchase a turnkey, low expense, 9,518 square-
foot shopping center in a highly visible and trafficked Oakland, CA location.
Built in 2005, the subject property sits on a 20,000 square-foot lot and features nine (9) tenants
including a Subway and China Express. The subject property is currently anchored by High Street
Laundry, which occupies approximately 2,400 square-feet. Located only a half mile from the 880
Freeway, less than a mile from the 580 Freeway, and with frontage on High Street, which is the
main thoroughfare between the two freeways, 4411-4425 Foothill Blvd. is one of the best
positioned neighborhood centers in the surrounding area.
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
property overview
exterior photos
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
property overview
exterior photos
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
property overview
exterior photos
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
location overview
PROPERTY
regional and local maps
PROPERTY
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
location overview
local context map
PROPERTY
PROPERTY
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
location overview
PROPERTY
parcel map
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
operating summary
financial overviewLOCATION ANNUALIZED OPERATING DATA
4411-4425 Foothill Blvd.
Oakland, CA 94601
CURRENT INCOME CURRENT
Price $4,500,000 Gross Potential Rent $266,149
Down Payment 35% $1,575,000 Other Income (CAM Estimated With New Property Tax) $49,045
Number of Units 9 Gross Potential Income $315,194
Price/Unit $500,000 Less: Vacancy/Deductions (GPR) 3.00% $7,984
Rentable Square Feet 9,518 Effective Gross Income $307,209
Price/SF $472.79 Less: Expenses $94,818
Cap Rate - Current 4.72% Net Operating Income $212,392
GRM - Current 16.91 Debt Service $177,847
Year Built 2005 Net Cash Flow After Debt Service 2.19% $34,545
Lot Size 20,000 Principal Reduction $47,187
Total Return 5.19% $81,732
FINANCING* EXPENSES
Real Estate Taxes 1.3508% $60,786
FIRST TRUST DEED Special Assessments $2,765
Loan Amount $2,925,000 PG&E (Tenants) $0
Interest Rate 4.50% Garbage (2016 Actual) $15,624
Amortization (years) 30 Water (2016 Actual) $158
Insurance (2016 Actual) $5,172
Janitorial (2016 Actual) $5,400
Oakland Business Tax (% of EGI) 1.40% $4,301
Oakland Rent Board Fee ($68 per unit) $612
Total Expenses $94,818
Expenses / Unit $10,535
Expenses / SF $9.96
30.86%Expenses % of EGI
*Loan information is time sensitive and subject to change.
Please contact a Prescott Company representative for up-to-date information.
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
rent roll
operating summary
rent roll with terms
UNIT NO. Suite Tenant Unit SF
Monthly Rent
(Scheduled)
Rent per
SF Occupancy
1760 High St. 1760 High Street Laundry (CAM $1,080) 2,400 $6,906.00 $2.88 Y
4411 Foothill Blvd. 4411 World Wireless (CAM $385) 800 $3,006.57 $3.76 Y
4413 Foothill Blvd. 4413 Progreso (CAM $380.24) 776 $1,591.35 $2.05 Y
4415 Foothill Blvd. 4415 Subway RE LLC (CAM $520) 1,260 $2,080.80 $1.65 Y
4417 Foothill Blvd. 4417 Handz Natural Hair 604 $1,500.00 $2.48 Y
4419 Foothill Blvd. 4419 Confianza Insurance 560 $1,545.00 $2.76 Y
4421 Foothill Blvd. 4421 Ramiro Gift Shop 800 $1,500.00 $1.88 Y
4423 Foothill Blvd. 4423 Hair Salon 800 $1,700.00 $2.13 Y
4425 Foothill Blvd. 4425 China Express (CAM $750) 1,518 $2,349.36 $1.55 Y
0 $0.00 0
9,518 $22,179.08 9
9,518 $22,179.08 9
TOTAL OCCUPIED
TOTAL VACANT
TOTAL
UNIT NO. Suite Lease Terms
Term Start
Date
Monthly Rent
(Current) CAM
1760 High St. 1760 5 yr-2.5% inc.+1x5 yr option 4/23/2017 $6,906.00 $1,080.00
4411 Foothill Blvd. 4411 option: 4/1/17-3/31/20, 5% annual increase 4/1/2017 $3,006.57 $385.00
4413 Foothill Blvd. 4413 5 yr lease + 2x5 yr option 5/2/2015 $1,591.35 $380.24
4415 Foothill Blvd. 4415 5 yr lease + 1x5 yr option 1/1/2015 $2,080.80 $520.00
4417 Foothill Blvd. 4417 5 yr lease 4/1/2017 $1,500.00
4419 Foothill Blvd. 4419 3 yr lease + 1x3 yr option 5/15/2016 $1,545.00
4421 Foothill Blvd. 4421 3 yr lease 11/15/2016 $1,500.00
4423 Foothill Blvd. 4423 3 yr lease 9/1/2017 $1,700.00
4425 Foothill Blvd. 4425 5 yr lease + 1x5 yr option 8/1/2013 $2,349.36 $750.00
$0
$22,179.08
$22,179.08
TOTAL OCCUPIED
TOTAL
TOTAL VACANT
4411-4425 FOOTHILL BLVD., OAKLAND, CA 94601
pricing
operating summary
LIST PRICE
Price $4,500,000
Down Payment 35% $1,575,000
First Trust Deed/Mortgage $2,925,000
Interest Rate/Amortization 4.50%
Net Operating Income $212,392
CASH FLOW ANALYSIS
Debt Service $177,847
Debt Coverage Ratio 1.19
Net Cash Flow After Debt Service $34,545
Cash on Cash Return % 2.19%
Principal Reduction $47,187
Total Return $81,732
Total Return % 5.19%
VALUE INDICATORS
CAP Rate 4.72%
GRM 16.91
Price / Unit $500,000
Price / SF $472.79
We strive to build high quality relationships, generated through honest communication,
tireless work ethic, and by providing clients with overall excellent service and flawless
execution. The priority of The Prescott Company is to achieve the absolute best price and
terms for our client’s real estate, meet or exceed our client’s needs and to continue to
conduct repeat business for years to come.
We believe that the core of our company stems largely from the culture that we have
created through the values that we practice.
▪ Integrity
▪ Humility
▪ Accessibility
▪ Dynamic
▪ Tireless Work Ethic
▪ Enjoyable Work Environment
▪ Relationship Driven And Not Commission Driven
www.theprescottcompany.com