8559 venice blvd. los angeles, ca 90034 · the asset is located adjacent to the signalized corner...

8559 VENICE BLVD.LOS ANGELES, CA 90034

OFFERING MEMORANDUM | LISTED AT $1,200,000

PRIME SINGLE-TENANT BUILDINGRETAIL/AUTO RELATED-REPOSITIONING BLVD

This Memorandum (“Offering Memorandum”) has been prepared by Hudson Commercial Partners, Inc. based on information that was furnished to us by sources we deem to be reliable. No warranty or representation is made to the accuracy thereof; subject to correction of errors, omissions, change of price, prior sale, or withdrawal from market without notice.

This Memorandum is being delivered to a limited number of parties who may be interested in and capable of purchasing the Property. By its acceptance hereof, each recipient agrees that it will not copy, reproduce or distribute to others this Memorandum in whole or in part, at any time, without the prior written consent of Hudson Commercial Partners, Inc., and it will keep permanently confidential all information contained herein not already public and will use this Confidential Memorandum only for the purpose of evaluating the possible acquisition of the Property.

This Memorandum does not purport to provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information, which prospective buyers may need, or desire. All financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of the Owner and, therefore, are subject to material variation. This Memorandum does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Memorandum.

This Memorandum is being delivered by Hudson Commercial Partners Inc. to prospective purchasers with the understanding that all prospective purchasers will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Additional information and an opportunity to inspect the site will be made available to interested and qualified prospective purchasers. Hudson Commercial Partners, Inc. reserves the right to request the return of any or all of the information enclosed.

© 2018 Hudson Commercial Partners, Inc. The information contained in this document has been obtained from sources believed reliable. While Hudson Commercial Partners, Inc. does not doubt its accuracy, Hudson Commercial Partners, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors, which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Hudson Commercial Partners, Inc. logo are service marks of Hudson Commercial Partners, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

TABLE OF CONTENTS

SECTION ONE 04EXECUTIVE PROFILE

SECTION TWO 10PROPERTY INFORMATION

SUBJECT PROPERTY

CADILLAC AVE

S LA C

IENEG

A BLV

D

INTERSECTION±91,082 Vehicles Per DayVENICE BLVD

SECTION 1 | EXECU

TIVE OVERVIEW

CADILLAC AVE

S LA C

IENEGA B

LVD

VENICE BLVD±46,318 Vehicles Per Day

6 - HUDSON COMMERCIAL PARTNERS, INC.

INVESTMENT SUMMARY

Hudson Partners Inc. is pleased to present a rare opportunity to acquire a retail property with 24 feet of frontage along Venice Boulevard, one of the heaviest trafficked corridors on the West Side of Los Angeles. The asset is located adjacent to the signalized corner of Venice Blvd. and La Cienaga Blvd., with close proximity to Kaiser Permanente Medical Center, as well as the Culver City Transit Stop and La Cienega/Jefferson Transit Stop, both on the Exposition Line light rail. The offering consists of retail building of 1,250 square feet on a 2,495 square foot lot. The property’s current use is auto detailing but has the potential to be repositioned into a variety of commercial uses. 90% SBA Financing is available to an Owner-User. With a scarcity of similar inventory on the West Side and the availability of high-leveraged financing,

this property presents a unique opportunity for an owner-user. On the otherhand, an investor stabalize the asset with a stable tenant at market rents.

PROPERTY HIGHLIGHTS

• Located Adjacent to Signalized Corner of Venice and La Cienaga

• 24 Feet of Frontage on Venice Blvd.

• Owner-User Investment Opportunity

• Commercial-Store Use Code

• Up to 90% SBA Financing Available

• C2-1VL-CPIO Zoning

• Over 46,000 Average Daily Traffic Count

HUDSON COMMERCIAL PARTNERS, INC. - 7

site description

PROPERTY INFORMATION

SITE DESCRIPTION

DESCRIPTION SPECIFICATION

PRICE $1,200,000

TOTAL BUILDING SIZE 1,250 SF

PRICE PER SQUARE FEET $960 PSF

TOTAL PARCEL AREA 2,495 SF

PRICE PER FOOT ON LAND $480.96 PSF

APN 5065-011-038

NUMBER OF BUILDINGS 1 Story Structure

MONTHLY RENT $2,200/Mo.

BUILDING-TO-LAND 0.5 Ratio

LEASE TERM Mont to Month

OCCUPANCY COST $5,618/Mo. | 20% Down

OCCUPANCY 100%

TYPE OF OWNERSHIP Fee Simple

CROSS STREET La Cienega Boulevard

DESCRIPTION

CONSTRUCTION Concrete Block

LEASE TYPE Industrial Gross

CUP Auto Related

ZONING C2-1VL-CPIO

FRONTAGE 25 Feet on Venice Boulevard

ACCESS Rear Alley

PARKING Up to 4 Spaces

DOORS 2- Ground Level Doors

DOOR DIAMENSIONS TBD

POWER 3 Phase Power

TRAFFIC COUNT ±46,318 Vehicles Per Day

CEILING HEIGHT TBD


RENT ROLL - CURRENT

TENANT SF RENT PSF TERM LEASE TYPE OPTIONS

Wrap It Up 1,250 SF $2,200 $1.76 PSF MTM Industrial Gross None

MONTHLY TOTAL1,250 SF

$2,200 AVG. PSF$1.76YEARLY TOTAL $26,400

Note: Tenant would consider remaining for short-term, upto 1 year. Buyer to verify terms and conditions.


CONVENTIONAL LOAN | OCCUPANCY COSTS

PROPERTY INFORMATION


PRICE $1,200,000

DOWN PAYMENT (20%) $240,000

BUILDING SIZE 1,250 SF

PRICE PER FOOT ON BUILDING $960.00

LOT SIZE 2,495 SF

PRICE PER FOOT ON LOT $480.96

YEAR BUILT 1947

ZONING C2-1VL-CPIO

ESTIMATED ANNUALIZED | USER OCCUPANCY COSTS

DESCRIPTION

OPERATING EXPENSES

TAXES (1,169%) $15,000 $12.00

INSURANCE $678 $0.55

UTILITIES $2,813 $2.25

REPAIRS & MAINTENANCE $1,250 $1.00

CAPITAL RESERVES/MISC $625 $0.50

TOTAL OPERATING EXPENSES $20,375 $16.30

DEBT SERVICE $47,044 $37.64

TOTAL OCCUPANCY COSTS $67,419 $53.93

MONTHLY OCCUPANCY COSTS(before tax advantage of ownership) $5,618/Mo. $4.49

20% DOWN PAYMENT ASSUMPTION


LOAN AMOUNT $960,000

LOAN TYPE Conventional

INTEREST RATE 5%

AMORTIZATION 25 Years

DUE 20 Years

Note: SBA Financing will allow an Owner-User 90% Financing with a 7A or 504 Loan Product.

SECTION 2 | PRO

PERTY INFO

RMATIO

N


PLAT MAP


AERIAL OVERVIEW

SUBJECT PROPERTY8559 VENICE BLVD., LOS ANGELES, CA 90034

CHARITON ST

21.95’

63’

24.19’

14 - HUDSON COMMERCIAL PARTNERS, INC.KAISER PERMANENTE WEST LA - 0.5 MILES FROM SUBJECT PROPERTY

DARIN SPILLMANPresident

11846 Ventura Blvd., Suite 140Studio City, CA 91604

Cal BRE: 01366902

CONTACTOFFICE310.592.8269

OFFICE818.699.1605

FAX818.688.8140

[email protected]

WEBSITEwww.hudsonpartnersinc.com

JAY MARTINEZManaging Principal

11846 Ventura Blvd.Suite 140Studio City, CA 91604

Cal BRE: 01367663

CONTACTCELL PHONE310.658.3375

PHONE818.212.3057

FAX818.688.8140

[email protected]

WEBSITEwww.hudsonpartnersinc.com

8559 venice blvd. los angeles, ca 90034 · the asset is located adjacent to the signalized corner...

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