For Sale: Owner/User Office Condo · 2017. 10. 13. · Owner Assoc. Dues: $800.00/ month (includes...
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No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information. HL Commercial Real Estate 70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com Contact: Peter Gettner (415) 269-3622 [email protected] Lic#: 00785623 For Sale: Owner/User Office Condo • Interstate 580 Frontage • Multi Private Offices • Kitchen/Lunchroom • 3 Restrooms • HOA Dues: $800/mo. (Includes Flood Insurance) 1525 E. Francisco Blvd., Ste. 1, San Rafael, CA Offering Summary Asking Price: $1,399,000 $1,560,000 Price Per Sq. Ft.: $268 psf Proforma CAP Rate: 6.39% Total Sq. Ft.: 5,226 +/- sf Available: Now Price Reduced! 10/13/17
Transcript of For Sale: Owner/User Office Condo · 2017. 10. 13. · Owner Assoc. Dues: $800.00/ month (includes...
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.
HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com
Contact:Peter Gettner
(415) [email protected]#: 00785623
For Sale: Owner/User Office Condo
• Interstate 580 Frontage• Multi Private Offices• Kitchen/Lunchroom • 3 Restrooms• HOA Dues: $800/mo. (Includes Flood Insurance)
1525 E. Francisco Blvd., Ste. 1, San Rafael, CA
Offering Summary
Asking Price: $1,399,000 $1,560,000 Price Per Sq. Ft.: $268 psfProforma CAP Rate: 6.39%Total Sq. Ft.: 5,226 +/- sfAvailable: Now
Price Reduced!
10/13/17
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.
HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com
Contact:Peter Gettner
(415) [email protected]#: 00785623
For Sale: Owner/User Office Condo1525 E. Francisco Blvd., Ste. 1, San Rafael, CA 94901
Building/Space Description:
This 2-story office condo features a great window line, multiple private offices, 3 bathrooms, a second floor deck with views of Mt. Tamalpais and freeway frontage. The property is available March 1, 2017 or sooner.
Location Description:
This property is conveniently located in Central Marin, near the Richmond Bridge and Home Depot with easy access to both to Highway 101 and Interstate 580.
Property Details:
Assessor’s Parcel #: 009-310-01, 02, 03, 04, 05, 06, 07, 08 Total Available Square Feet: 5,226 +/- sq. ft. Total Square Feet of Land: Condo Office Class: B Year Constructed: 1980 +/- Number of Parking Spaces: 16 on site (plus 7 off-site spaces are available for rent at $100/ mo. per space) Type of Construction: Slab on grade/wood frame studs Roof Type: Built-up Zoning/Permitted Uses: LI/O (Light Industrial/Office District) Fire Sprinklers: No Heating & Air Conditioning: Yes Flood Zone Designation: Zone AE (An Area Inundated by 100-year flooding) This land covered by the floodwaters of the base flood is the Special Flood Hazard Area (SFHA) on the NFIP maps. The SFHA is the area where the NFIP’s floodplain management regulations must be enforced and the area where the mandatory purchase of flood insurance applies.
Financial Terms:
Sale Price: $1,399,000 ($267.70 psf) Financing: Cash, CTNL, or 10% down may be possible to SBA qualified buyers Owner Assoc. Dues: $800.00/ month (includes flood insurance)
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.
HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com
Contact:Peter Gettner
(415) [email protected]#: 00785623
For Sale: Owner/User Office Condo1525 E. Francisco Blvd., Ste. 1, San Rafael, CA 94901
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.
HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com
Contact:Peter Gettner
(415) [email protected]#: 00785623
For Sale: Owner/User Office Condo1525 E. Francisco Blvd., Ste. 1, San Rafael, CA 94901
Proforma Rent Roll
Unit Tenant NameRentable
Sq Ft Monthly
Rent Rent/ Sq Ft
Sq. Ft. %
Lease Type
1 - 8 5,226 $7,839.00 $1.50 100% NNN
5,226 $7,839.00 $0.80 100%
Notes
No Lease
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.
HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com
Contact:Peter Gettner
(415) [email protected]#: 00785623
For Sale: Owner/User Office Condo1525 E. Francisco Blvd., Ste. 1, San Rafael, CA 94901
Proforma Income StatementProperty Address: 1525 E. Francisco Blvd., San Rafael, CAAs of Date:
PGAI @ 100% Occupancy 7,839.00$ X 12 94,068.00$ Less Vacency @ 5% (4,703.40)$
Effective Gross Annual Income 89,364.60$
NNN EXPENSES (Tenant Pays)
Real Property Taxes (projected @ market value) 16,500.00$ HOA 9,600.00$ Insurance (projected) 3,000.00$
Total NNN Expenses 29,100.00$ ($0.47 psf)
NET OPERATING INCOME 89,364.60$
Projected Expense Ratio 33%Sale PriceCAP Rate 6.39%
Size: 5,226 sq.ft.Price psf: $267.70 psf
Yield Sales Price: Sq. Ft Price:5.00% 1,787,292.00$ 342.00$ 5.50% 1,624,810.91$ 310.91$ 6.00% 1,489,410.00$ 285.00$ 6.50% 1,374,840.00$ 263.08$ 7.00% 1,276,637.14$ 244.29$
$1,399,000.00
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.
HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com
Contact:Peter Gettner
(415) [email protected]#: 00785623
For Sale: Owner/User Office Condo1525 E. Francisco Blvd., Ste. 1, San Rafael, CA 94901
Downtown San Rafael
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No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. The prospective purchaser/lessee should independently verify all information.
HL Commercial Real Estate70 Mitchell Blvd., Suite 202 San Rafael, CA 94903 www.hlcre.com
Contact:Peter Gettner
(415) [email protected]#: 00785623
For Sale: Owner/User Office Condo1525 E. Francisco Blvd., Ste. 1, San Rafael, CA 94901
E. Francisco Blvd.
SBA 504 Loan ScenarioSan Rafael Office Condo Scenario as of: 10/12/2017
Own the Business? Own the Building.
Building Purchase Price $1,399,000 1525 E. Francisco Boulevard, Suite 1, San Rafael, CAImprovements $0 Building Size 5,226 sfOther $0Total Project Costs $1,399,000 Price Per Sq. Ft. $268 psf
For Property Information Contact:
Peter GettnerHL Commercial Real EstateCommercial Real Estate [email protected]
Financing Package Amount Rate Term Amort Monthly PymtBank 1st Mortgage 50% 699,500$ 4.75% 10 Yrs 25 Yrs 3,988$ SBA 504 2nd Mortgage* 40% 575,000$ 4.56% 20 Yrs 20 Yrs 3,656$ Down Payment 10% 139,900$
4.66% $1.46 PSF 7,644$
PSF Monthly PSF MonthlyMortgage Payments $1.46 $7,644 Total Monthly Cost $1.70 $8,903Property Taxes & Insurance $0.24 $1,259 Less Depreciation ($0.46) -$2,391
Total Monthly Cost $1.70 PSF $8,903 Total Adjusted Monthly Payment$1.25 PSF $6,512
Cash Down Payment 10.0% $139,900Estimated Bank Fees 1.0% $6,995Total Cash Required $146,895
Assumptions: The following assumptions were made in the preparation of this sample. Please let us know if there are specific values you'd like to see.
● Bank rate, terms and fees are estimated and vary depending on lender. ● Operating costs, title and insurance are estimates. ● Depreciation is estimated at an 80% bracket over 39 years.
● SBA Fee is estimated at 2.15% plus legal fees. Fees are financed.
For more information contact us:
Your SBA 504 Loan Experts:Anna O'Brien Scarlett SheldonTMC Financing TMC FinancingBusiness Development Officer Business Development Associate415.272.4544 [email protected] [email protected]
● SBA Interest Rate is the Oct '17 rate. Actual rate will be set at loan funding.
90% SBA 504 Financing Example
Monthly Costs Adjusted Monthly Costs
Out of Pocket Expenses Invest in Your Future: Equity Over First 10 Years
● 90% LTV financing generally does not require additional collateral.● Equity is based on a 2.0% annual appreciation rate.
*Includes financed SBA fee of $15,400
$0
$500,000
$1,000,000
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EQUITY
