arcadia • california...office market group pasadena corporate id# 01125429 a member of the lee...

11 E. Huntington Drive, Arcadia, CA

11E. HUNTINGTON DRIVE

ARCADIA • CALIFORNIA

Prime Arcadia Office Investment

Presented by


EXECUTIVE SUMMARY

Lee & Associates - Pasadena, Inc. is pleased to present for sale this single-story office/retail commercial building located on Historic Route 66 at 11 E. Huntington Drive in the city of Arcadia, California. Nestled along the base of the San Gabriel Mountains, this building is ideally situated in the coveted area of Downtown Arcadia which is adjacent to Santa Anita Park, Santa Anita Golf Course and Santa Anita Westfield Mall, making this property ideal for an investor in the market for a fully leased property in a prime downtown setting.

Rare Investment Opportunity on Historic Route 66

• Improved 3,800 square foot single-story building zoned for professional office or retail use

• Currently fully leased to national credit tenant

• Interior is professionally built out and includes generous sized office suites with windows, two private restrooms, full kitchen, water feature, large open workspace, projector screen and boasts lots of natural light

• Abundant parking both at private parking lot and city parking lot

• Dual entry access from street and back parking lot

• Iconic Route 66 location

• Near corner of signalized intersection at Santa Anita Avenue & Huntington Drive

• Benefits from the highly desirable storefront visibility and heavy vehicle traffic count of over 32,042 cars daily

• Premier location in the coveted Downtown Arcadia only minutes from major retail center Westfield Mall and entertainment venue at Santa Anita Park

• Easy access to the I-210 freeway & walking distance to Metro Goldline transit station

• Heavily populated city with little in-fill opportunity

• Strong demographics surrounding property with over 363,116 residents within a five mile radius with an average household income of $97,569

PROPERTY ADDRESS 11 E. Huntington Drive, Arcadia CA 91006

ASKING PRICE $1,668,880 ($439.18 PSF)

NET RENTABLE AREA ±3,800 RSF

IN-PLACE OCCUPANCY 100%

YEAR BUILT 1944

PARKING RATIO 3.16/1,000

TENANCY Single

STORIES One (1)


PROPERTY PHOTOS

East view along Huntington Drive South facing storefront along Huntington Drive

Building back entry Northside parking lot behind building


PROPERTY PHOTOS

Main entrance with water feature in lobby View of open workspace featuring an automated projector screen and projector

Large Conference Room Full sized kitchen with sink, refrigerator and custom cabinetry


PROPERTY PHOTOS

Executive office with built-in cabinetry and window One of two large, renovated private bathrooms

Additional city parking located behind building Signalized corner of one of Arcadia’s busiest intersections; Huntington & Santa Anita


World Class Location

• Arcadia is a city in Los Angeles County, California, located about 13 miles northeast of downtown Los Angeles in the San Gabriel Valley and at the base of the San Gabriel Mountains.

• Boasting major venues including the Santa Anita Park racetrack and the 127 acre Los Angeles County Arboretum and Botanic Garden.

• Arcadia is a high-end retail shopping destination home to Westfield Santa Anita; 1.3 million square foot super regional shopping mall.

• In 2016, Arcadia was ranked the 5th most expensive housing market in the United States by Business Insider, with an average list of $1,748,680 for a four-bedroom home.

• In 2012, Arcadia was ranked 7th in the nation on CNN Money magazine’s list of towns with highest median home costs.

• Arcadia’s Upper Rancho neighborhood was ranked the 23rd richest neighborhood in Southern California by Business Insider in 2014; out ranking Orange County’s Newport Beach with a mean household income of $310,779.

• In 2010, Bloomberg Business Week named Arcadia as one of the “Best Places to Raise Your Kids: 2010” for the second year in a row.

• U.S. Route 66, passes through Arcadia, on Huntington Drive in Downtown Arcadia.

LOCATION INFORMATION


REGIONAL MAP LOCATION

e. Huntington drive

santa anita avenue

PROPERTY

N

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PROPERTY


DOWNTOWN ARCADIA

The Metro Gold Line light rail station in Downtown Arcadia provides a direct, high volume mass transit connection to and from Pasadena and Downtown Los Angeles with early morning and late night service 7 days a week.

Three (3) free and convenient public parking lots are located in Downtown Arcadia with over 300 spaces for use by shoppers and visitors to the area.

PROPERTY

DOWNTOWN ARCADIA


FINANCIAL ANALYSIS

RENT ROLL

TENANT SF RENT/MO. LEASE TYPE TERM COMMENCE INCREASE OPTIONS DATE

Forest Lawn 3,800 $ 6,367.24 MG 36 months 12/01/16 Flat One (1) 3-year renewal at 2% increase

ANNUAL OPERATING EXPENSES

Property Tax (1.108212%)* $18,495

Insurance $1,120

Landscape $540

AC Maintenance $88

Business License $106

TOTAL $20,348

*Property Tax estimated and based on new Investment Sales Price

ANNUAL INCOME & EXPENSE CONSOLIDATION

Gross Rental Income $76,407

Less Total Expenses ($20,348)

Net Operating Income $56,059

Investment Sale Price $1,668,880

Price per SF $439.18

Capitalization Rate 3.36%


local market investment advisors

Lee & Associates® — Pasadena, Inc.Office Market Group PasadenaCorporate ID# 01125429A Member of the Lee & Associates® Group of Companies

155 N. Lake Avenue, Suite 800Pasadena, CA 91101626.535.9888 [ main ]

CHRISTOPHER LARIMOREFounding Principal626.240.2788 [ direct ][email protected]. No. 01314464

VINCENT MOLITORPrincipal626.240.2787 [ direct ][email protected]. No. 0295360

© 2017 Lee & Associates, Inc. The information contained in this document has been obtained from sources believed reliable. While Lee & Associates, Inc. does not doubt its accuracy, Lee & Associates, 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.

11E. HUNTINGTON DRIVE

ARCADIA • CALIFORNIA

arcadia • california...office market group pasadena corporate id# 01125429 a member of the lee...

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