4,467 sf commercial building for sale...the building is an approximate 4,467 square foot commercial...
TRANSCRIPT
BRANDON KEITHSenior Vice President | Lic. #01177792858.458.3326 | [email protected]
SPENCER KERRIGANVice President | Lic. #01921490858.458.3310 | [email protected]
4,467 SF COMMERCIAL BUILDING FOR SALE7328-44 BROADWAY, LEMON GROVE, CA 91945
BUILDING SIZE: 4,467 SF
TOTAL LOT SIZE: 13,092 SF
NUMBER OF FLOORS: One
TENANCY: 4 Current Tenants and 1 Suite Vacant (5 Total)
PARKING: 25 Spaces (Including Rear Parking)
BUILDING AGE: 50+
ZONING: General Commercial (CG) - City of Lemon Grove
POWER METERS: Multiple
HVAC: Roof Mounted
FEATURES: Good Parking, Street Visibility, Signage and Potential for Fenced Parking in the Back
7328-44 BROADWAY LEMON GROVE, CA 91945
APN: 479-051-14, 15
ASKING PRICE $769,500
PRICE/SF$172/SF
EXECUTIVE SUMMARY
VOIT REAL ESTATE SERVICES is pleased to present this exceptional opportunity to acquire 7328-44 Broadway, Lemon Grove, CA 91945 The building is an approximate 4,467 square foot commercial building on a combined lot size of 13,092 square feet on Lemon Grove’s main commercial thoroughfare.
The Property is currently leased to four (4) commercial tenants, with a 1,135 SF suite available for a user/buyer. This property is zoned CG, which allows a wide variety of office, retail and general commercial uses.
BROADWAY
PARCEL MAP 479-051-14,15
SITE PLAN
BROADWAY
HA
RR
IS S
T
CIT
RU
S S
T
7340Good Guys
Tavern
7344Salon
7342Audio
Masters
7344
73287330
SmokeShop
NOT A PART NOT A PART NOT A PART NOT A PART NOT A PART
VACANT
AERIAL LOCATION
MA
SS
AC
HU
SE
TTS
AV
EN
UE
MA
SS
AC
HU
SE
TTS
AV
EN
UE
BROADWAYBROADWAY
CENTRAL AVENUECENTRAL AVENUE
SAN MIGUELSAN MIGUEL
BROADWAYBROADWAY
PALM STREETPALM STREET
LEM
ON
GRO
VE A
VEN
UE
LEM
ON
GRO
VE A
VEN
UE
SITE
RENT ROLLTENANT SF LEASE START EXPIRATION MONTHS $/MO $/SF/MO INCREASES CAMS/NNN
Vacant for User Buyer 1,135
7328 Broadway
Smoke Shop* 639 5/1/2018 4/30/2019 12 $889.00 $1.39 3% None7330 Broadway 5/1/2019 4/30/2020 12 $916.00 $1.43 3% None
5/1/2020 4/30/2021 12 $943.00 $1.48 3% None
Good Guys Tavern* 890 MTM MTM MTM $1,157.00 $1.30 NA None7340 Broadway
Audio Masters* 912 9/1/2018 9/1/2019 12 $1,393.00 $1.52 3% None7432 Broadway 9/1/2019 8/31/2020 12 $1,435.00 $1.57 3% None
Hair Salon* 890 11/1/2018 11/1/2019 12 $828.00 $0.93 3% None7344 Broadway 11/1/2019 11/1/2020 12 $855.00 $0.96 3% None
11/1/2020 11/1/2021 12 $877.00 $0.99 3% None
TOTAL SQUARE FEET 4,466
* Existing Tenants in Place 15+ years
2020-2021**CURRENT PROFORMA
INCOME Gross Rents $52,680.00 $69,024.00
CAM Reimb $-
Total Income $52,680.00 $69,024.00
EXPENSES
CAM $5,500.00 $5,500.00 New Prop. Tax $10,000.00 $10,000.00 Insurance $2,145.00 $2,145.00
Management $2,150.00 $2,761.00
TOTAL EXPENSES $19,795.00 $20,406.00
NOI $32,885.00 $48,618.00 6.3% Cap Rate
** Assumes 7328 Broadway is leased following Buyer’s close of escrow at $1.20 gross
4180 La Jolla Village Drive, Suite 100, La Jolla, CA 92037 | 858.453.0505 | 858.408.3976 Fax | Lic. #01991785 | www.voitco.com
Licensed as Real Estate Broker and Salesperson by the DRE. The information contained herein has been obtained from sources we deem reliable. While we have no reason to doubt its accuracy, we do not guarantee it. ©2020 Voit Real Estate Services, Inc.
BRANDON KEITHSenior Vice President | Lic. #01177792858.458.3326 | [email protected]
SPENCER KERRIGANVice President | Lic. #01921490858.458.3310 | [email protected]
Will C CrawfordHigh School
Will C CrawfordHigh School
HelixHigh School
HelixHigh School
Mount MiguelHigh School
Mount MiguelHigh School
94
125
94
Marketplace at the Grove
Lemon Grove Square