BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased...

21
Portfolio - Net Leased Investment Vallejo, San Leandro & San Jose BAY AREA ORAL SURGERY MANAGEMENT LLC O F F E R I N G M E M O R A N D U M

Transcript of BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased...

Page 1: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Portfolio - Net Leased InvestmentVallejo, San Leandro & San Jose

BAY AREA ORAL SURGERY MANAGEMENT LLC

O F F E R I N G M E M O R A N D U M

Page 2: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from and it should not be madeavailable to any other person or entity without the written consent of . By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees thatrecipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to . This offeringmemorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subjectproperty. The information contained herein is not a substitute for a thorough due diligence investigation. has not made any investigation, and makes no warranty or representation with respect to theincome or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or financial condition or businessprospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe reliable; however, has not verified, and will not verify, any of the information contained herein,nor has conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subjectproperty.

CONFIDENTIALITY AND DISCLAIMER

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT FOR MORE DETAILS.Copyright © 2020 CREOP, LLC. All Rights Reserved.

Page 3: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Portfolio - Net Leased Investment | Investment Highlights 3

INVESTMENT OVERVIEW

Portfolio OverviewLocation Vallejo, San Leandro & San Jose

Sale Price $4,103,580

Number of Units 5

Number of Properties 5

Total Building SF 9484

Cap Rate 7.00 %

NOI $287,251

Occupancy (blended) 100.00 %

150 Admiral Callaghan Ln., Ste. A• Fully built-out condo for oral surgery tenant. Complete with lobby,

reception, X-Ray, 4 ops, 2 restrooms, recovery room, doctors office,managers office, extra office, laundry, lab and break room.

The subject dental condo is located within the Admiral Callaghan •Professional Center condominium project.

150 Admiral Callaghan Ln., Ste. B• Fully built-out general office for oral surgery tenant. Complete with

lobby/reception, conference room, two private offices, large work space,restroom and break room.

The subject dental condo is located within the Admiral Callaghan •Professional Center condominium project.

19 Rotary Way• Fully built-out condo for oral surgery tenant. Complete with lobby,

reception, X-Ray, 4 ops, 2 restroom, doctors office, lab and break room.

The subject dental condo is located within the Parkway Professional Suitescondominium project.

433 Estudillo Ave., Ste 306• Fully built-out condo for oral surgery tenant. Complete with lobby,

reception, X-Ray, 4 ops, doctors office, lab and break room. Restrooms arecommon, 2 located on each floor.

Located in the central business district of San Leandro. Just .3 mile (8minute walk) from BART and the new San Leandro Tech Campus – a new7.3-acre state-of-the-art technology development. The city has a dynamicbusiness environment and strong potential for further growth.

125 N. Jackson Ave., Ste 202• Fully built-out condo for oral surgery tenant. Complete with lobby,

reception, X-Ray, 4 ops, 1 restroom, doctors office, lab and break room.

The subject dental condo is located within the Jackson Medical Center,which is adjacent to San Jose Regional Medical Center andamong various other medical user.

Page 4: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Portfolio - Net Leased Investment | Portfolio Map 4

Property Name Type List Price AddressNet Leased Investment Office $1,111,286 150 Admiral Callaghan Ln., Ste. A, Vallejo, CA 94591Net Leased Investment Office $771,429 150 Admiral Callaghan Ln., Ste. B, Vallejo, CA 94591Net Leased Investment Office $872,143 19 Rotary Way, Vallejo, CA 94591Net Leased Investment Office $659,571 433 Estudillo Ave., Ste 306, San Leandro, CA 94577Net Leased Investment Office $689,151 125 N. Jackson Ave., Ste 202, San Jose, CA 95116

Page 5: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Property Summary 5

Net Leased Investment

ADDRESS 150 Admiral Callaghan Ln., Ste. AVallejo CA 94591

UNIT SF 2,593 SF

LAND SF 2,659

OCCUPANCY 100.00 %

APN 0069 ­010 ­740

# OF PARCELS 1

ZONING TYPE Medical Building

Page 6: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Rent Roll 6

Lease Term Rental Rates

Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes

A BAY AREA ORAL SURGERYMANAGEMENT LLC

2,593 100.00% 07/23/20 07/22/25 CURRENT $6,483 $2.50 $77,790 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.

Tenant has two (2) five (5) yearoptions

07/23/2021 $6,677 $2.58 $80,124 $30.96

07/23/2022 $6,877 $2.65 $82,527 $31.80

07/23/2023 $7,084 $2.73 $85,003 $32.76

07/23/2024 $7,296 $2.81 $87,553 $33.72

07/23/2025 $7,515 $2.90 $90,180 $34.80

Totals 2,593 $6,483 $77,790

Page 7: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Income & Expense Analysis 7

INCOME CURRENT

Gross Potential Rent $77,790

Expense Reimbursement Revenue $8,464

Effective Gross Income $86,254

Less: Expenses $8,464

Net Operating Income $77,790

EXPENSES CURRENT

Real Estate Taxes $7,064

Insurance $1,400

Total Operating Expense $8,464

Expense / SF $3.26

% of EGI 9.81 %

REVENUE ALLOCATIONCURRENT

DISTRIBUTION OF EXPENSESCURRENT

Page 8: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Property Summary 8

Net Leased Investment

ADDRESS 150 Admiral Callaghan Ln., Ste. BVallejo CA 94591

UNIT SF 1,800 SF

LAND SF 1,858

OCCUPANCY 100.00 %

APN 0069 ­010 ­730

# OF PARCELS 1

ZONING TYPE Medical Building

Page 9: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Rent Roll 9

Lease Term Rental Rates

Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes

B BAY AREA ORAL SURGERYMANAGEMENT LLC

1,800 100.00% 07/23/20 07/22/25 CURRENT $4,500 $2.50 $54,000 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.

Tenant has two (2) five (5) yearoptions

07/23/2021 $4,635 $2.58 $55,620 $30.96

07/23/2022 $4,774 $2.65 $57,289 $31.80

07/23/2023 $4,917 $2.73 $59,007 $32.76

07/23/2024 $5,065 $2.81 $60,777 $33.72

07/23/2025 $5,217 $2.90 $62,601 $34.80

Totals 1,800 $4,500 $54,000

Page 10: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Income & Expense Analysis 10

INCOME CURRENT

Gross Potential Rent $54,000

Expense Reimbursement Revenue $8,343

Effective Gross Income $62,343

Less: Expenses $8,343

Net Operating Income $54,000

EXPENSES CURRENT

Real Estate Taxes $6,943

Insurance $1,400

Total Operating Expense $8,343

Expense / SF $4.63

% of EGI 13.38 %

REVENUE ALLOCATIONCURRENT

DISTRIBUTION OF EXPENSESCURRENT

Page 11: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Property Summary 11

Net Leased Investment

ADDRESS 19 Rotary WayVallejo CA 94591

UNIT SF 2,035 SF

YEAR BUILT 1989

OCCUPANCY 100.00 %

APN 0069­-350­-090

# OF PARCELS 1

ZONING TYPE Medical Building

Page 12: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Rent Roll 12

Lease Term Rental Rates

Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes

19 BAY AREA ORAL SURGERYMANAGEMENT LLC

2,035 100.00% 07/23/20 07/22/25 CURRENT $5,088 $2.50 $61,050 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.

Tenant has two (2) five (5) yearoptions

07/23/2021 $5,240 $2.58 $62,882 $30.96

07/23/2022 $5,397 $2.65 $64,768 $31.80

07/23/2023 $5,559 $2.73 $66,711 $32.76

07/23/2024 $5,726 $2.81 $68,712 $33.72

07/23/2025 $5,898 $2.90 $70,774 $34.80

Totals 2,035 $5,088 $61,050

Page 13: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Income & Expense Analysis 13

INCOME CURRENT

Gross Potential Rent $61,050

Expense Reimbursement Revenue $33,288

Effective Gross Income $94,338

Less: Expenses $33,288

Net Operating Income $61,050

EXPENSES CURRENT

Real Estate Taxes $6,247

Insurance $1,400

HOA $25,641

Total Operating Expense $33,288

Expense / SF $16.35

% of EGI 35.29 %

REVENUE ALLOCATIONCURRENT

DISTRIBUTION OF EXPENSESCURRENT

Page 14: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Property Summary 14

Net Leased Investment

ADDRESS 433 Estudillo Ave., Ste 306San Leandro CA 94577

UNIT SF 1,109 SF

YEAR BUILT 1969

OCCUPANCY 100.00 %

APN 077-0539-080-00

# OF PARCELS 1

ZONING TYPE Office

Page 15: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Rent Roll 15

Lease Term Rental Rates

Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes

306 BAY AREA ORAL SURGERYMANAGEMENT LLC

1,539 100.00% 07/23/20 07/22/25 CURRENT $3,848 $2.50 $46,170 $30.00 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.

Tenant has two (2) five (5) yearoptions

07/23/2021 $3,963 $2.58 $47,555 $30.96

07/23/2022 $4,082 $2.65 $48,982 $31.80

07/23/2023 $4,204 $2.73 $50,451 $32.76

07/23/2024 $4,330 $2.81 $51,965 $33.72

07/23/2025 $4,460 $2.90 $53,524 $34.80

Totals 1,539 $3,848 $46,170

Page 16: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Income & Expense Analysis 16

INCOME CURRENT

Gross Potential Rent $46,170

Expense Reimbursement Revenue $31,018

Effective Gross Income $77,188

Less: Expenses $31,018

Net Operating Income $46,170

EXPENSES CURRENT

Real Estate Taxes $6,618

Insurance $1,400

HOA $23,000

Total Operating Expense $31,018

Expense / SF $20.15

% of EGI 40.19 %

REVENUE ALLOCATIONCURRENT

DISTRIBUTION OF EXPENSESCURRENT

Page 17: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Property Summary 17

Net Leased Investment

ADDRESS 125 N. Jackson Ave., Ste 202San Jose CA 95116

UNIT SF 1,325 SF

LAND SF 3,049

YEAR BUILT 1982

OCCUPANCY 100.00 %

APN 481­06­076

# OF PARCELS 1

ZONING TYPE Skyscraper/Highrise (Commercial Offices)

Page 18: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Rent Roll 18

Lease Term Rental Rates

Suite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly PSF Annual PSF Lease Type Options/Notes

202 BAY AREA ORAL SURGERYMANAGEMENT LLC

1,517 100.00% 07/23/20 07/22/25 CURRENT $4,020 $2.65 $48,241 $31.80 NNN LL responsible for some buildingsystems, exterior and structuralportions of the Demised Premisesand appurtenant improvementslocated on the Land.

Tenant has two (2) five (5) yearoptions

07/23/2021 $4,141 $2.73 $49,688 $32.76

07/23/2022 $4,265 $2.81 $51,178 $33.72

07/23/2023 $4,393 $2.90 $52,714 $34.80

07/23/2024 $4,525 $2.98 $54,295 $35.76

07/23/2025 $4,660 $3.07 $55,924 $36.84

Totals 1,517 $4,020 $48,241

Page 19: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Net Leased Investment | Income & Expense Analysis 19

INCOME CURRENT

Gross Potential Rent $48,246

Expense Reimbursement Revenue $19,886

Effective Gross Income $68,132

Less: Expenses $19,886

Net Operating Income $48,246

EXPENSES CURRENT

Real Estate Taxes $5,370

Insurance $1,400

HOA $13,116

Total Operating Expense $19,886

Expense / SF $13.10

% of EGI 29.19 %

REVENUE ALLOCATIONCURRENT

DISTRIBUTION OF EXPENSESCURRENT

Page 20: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Portfolio - Net Leased Investment | Income & Expenses 20

INCOME ACTUAL

Gross Potential Rent $287,251

Expense Reimbursement Revenue $100,999

GROSS POTENTIAL INCOME $388,250

EFFECTIVE GROSS INCOME $388,250

NET OPERATING INCOME $287,251

EXPENSES ACTUAL

Real Estate Taxes $32,242

Insurance $7,000

HOA $61,757

TOTAL OPERATING EXPENSE $100,999

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

Page 21: BAY AREA ORAL SURGERY MANAGEMENT LLC...Net Leased Investment | Property Summary 5 Net Leased Investment ADDRESS 150 Admiral Callaghan Ln., Ste. A Vallejo CA 94591 UNIT SF 2,593 SF

Portfolio - Net Leased Investment

Exclusively Marketed by:

Jason Winter916-677-9090Lic: [email protected]

1718 H Street, Modesto, CA 95354 powered by CREOP