retail / office investment - realnexmarketedge.reiwise.com/flipbook/42864-1/42864-1.pdfretail /...

RETAIL / OFFICE INVESTMENT

400 Old County Rd. & 200 San Marlo Way, Pacifica, CA 94044

Greg Cohn, Brett Barron

Broker Associate

650-437-5227

[email protected]

BRE #00871792

Brett Barron

Broker

650-437-5223

[email protected]

BRE #00893787

1200 Howard Avenue Suite 204Burlingame, CA 94010650-342-0373 (p)650-649-2330 (f)www.capitalrealtygrp.com

OFFERED AT: $3,388,000●

Stablized Multi-TenantInvestment Property

●

Mixed Use Retail/OfficeQuality Construction

●

Highway One Visibility 2 blocksfrom Pacific Ocean

●

Popular Tourist Site100% Occupied

●

Property DetailsRETAIL / OFFICE INVESTMENT400 Old County Rd. & 200 San Marlo WayPacifica, CA 94044

Property DescriptionRETAIL / OFFICE INVESTMENT

400 Old County Rd. & 200 San Marlo WayPacifica, CA 94044

Greg Cohn, Brett Barron650-437-5227

Rockaway Business Park400 Old County Rd & 200 San Marlo Wy

PROPERTY DESCRIPTION:

The Rockaway Business Park was developed in2002 by the current owners and offers the investor aunique opportunity to acquire a quality built mixed-use retail and office property with local character andcharm. Situated on a parcel of approximately 7,835square feet, the business park is comprised of threebuildings that total approximately 8,680 square feetof leasable space. Generous off street City Parkingis available just south of the property. This multi-tenanted investment makes the Rockaway BusinessPark a sound choice for the investor looking tominimize daily management obligations.

AREA LOCATION:

Located along a six mile stretch of the Northern California coastline with its sandy beaches and rollinghillsides, Pacifica is just 10 minutes south of San Francisco and approximately 45 minutes north of SiliconValley. The Rockaway Beach District, located just off Highway One, is a popular destination for tourists andBay Area locals and is the home of the popular Wednesday Farmers Market, Pacifica Chamber ofCommerce and Visitors Centers.

page 3 of 39

Information & calculations presented are deemed to be accurate, but not guaranteed and we are not responsible for its correctness.

ExecutiveSummary

Client:RockawayBusinessParkLLC

PropertyLocation:400OldCountyRoad

Pacifica,CA94044

PropertyType:Office/RetailBuilding(MultiStory)

AssessorsParcelNumber:022‐027‐260

Zoning:C1‐CZ(NeighborhoodCommercial‐CoastalZone)

PresentUse:Office/Retail

BuildingSize:Approximately8,680sq.ft.

LandArea:Approximately7,835sq.ft.

InterestAppraised:FeeSimple

AssessedValue:$1,428,518

AssessedImprovedValue:$1,181,472

AssessedLandValue:$247,046

TaxYear:2014‐15

TaxAmount:$19,100.52

AssessedImproved%:82.71%

or warranties as to the accuracy or completeness of information contained in this report.Information compiled from various sources. CoreLogic makes no representations

******************************************************************************************** 3. 6. ** 2. 5. 8. ** 1. 4. 7. ** ======= EXTRA FEATURES ====== ** ** Other Rms: ** Recreatn : AvgStrHgt : ** BsmtUnfSF: Bldg Type : Waterfront : ** BsmtFinSF: Elevator : MH Wid X Len : ** Bsmt SqFt: Security : MH Make : ** Fireplace: GrbgDisposal: Intercom : ** Heat Srce: Microwave : Fire Sprnklrs : ** Heat Type: Range/Oven : Tennis Court : ** AirMethod: Dishwasher : Sewer/Septic : ** Units : Deck : Lot Location : ** BsmntType: Patio : Topography : ** FrmlEntry: Pool : Quality Class : ** Attic : Foundation : Improve Type : ** Den : Flr Cover2 : View : ** Util Room: Flr Cover1 : Unit Type : ** BrkfastRm: Roof Matl : Garage Sq Ft : ** Kitchen : Bldg Matl : Garage Type : ** Lvng Room: Bldg Style : Garage Space : ** FamilyRms: Bldg Cond : Carport : ** DiningRms: Eff Yr Built: Useable Lot SF : ** Bathrooms: Year Built : Lot Dimension : ** Bedrooms : Bldg Sq Ft : Lot SqFt : ** Total Rms: Stories : Lot Acres : ** ======= PROPERTY CHARACTERISTICS ======= ** ** : ** : ** Legal : ** Subplat : ** Land Use : ** Zoning : ** Property Use: ** Census :Tract: Block: ** Map Grid : ** MLS Area : ** ======= PROPERTY DESCRIPTION ======= ** ** % Improved : ** Total : Taxes : ** Other : Tax Rate Area : ** Structure : Exempt Amount : ** Land : Exempt Type : ** ======= ASSESSMENT AND TAX INFORMATION ======= ** ** % Owned : Vesting Type : ** Deed Type : Interest Rate : ** Sale Price : Loan Type : ** Document # : Lender : ** Transferred : Loan Amount : ** ======= SALES AND LOAN INFORMATION ======= ** ** Owner Phone : ** Mail Address : ** Site Address : ** CoOwner : ** Owner : ** Parcel Number : ** ======= OWNERSHIP INFORMATION ======= ********************************************************************************************

= M E T R O S C A N P R O P E R T Y P R O F I L E =San Mateo (CA)

022 027 260Rockaway Business Park LLC

400 Old County Rd Pacifica 94044274 Redwood Shores Pkwy #539 Redwood City Ca 94065

$247,046$1,181,472

016021$19,101.5214-15$1,428,518

83

655

46032.00

18 Com,Office Building,2+ StoriesRockaway BeachLOTS 36, 37, 38 BLK 5 ROCKAWAYBEACH AMEND & SUPP RSM 5/45

.1827,8358,680

2002

Good

6

12.0

Property PhotosRETAIL / OFFICE INVESTMENT



Rockaway Business Park

400 Old County Road BLD - A 400 Old County Road BLD - A & B

400 Old County Road BLD - B 200 San Marlo Way

200 San Marlo Way 200 San Marlo Way

page 7 of 39


Maps and AerialsRETAIL / OFFICE INVESTMENT



Rockaway Beach Business ParkMAPS

AREA MAP

STREET MAP

page 8 of 39


Maps and AerialsRETAIL / OFFICE INVESTMENT



Rockaway Beach Business ParkAERIALS

AREA AERIAL

BUILDING AERIAL

page 9 of 39


Property FinancialsRETAIL / OFFICE INVESTMENT400 Old County Rd. & 200 San Marlo WayPacifica, CA 94044

Executive SummaryRETAIL / OFFICE INVESTMENT



ACQUISITION COSTS

Purchase Price, Points and Closing Costs $3,414,940

Investment - Cash $1,720,940

First Loan $1,694,000

INVESTMENT INFORMATION

Purchase Price $3,388,000

Price per Tenant $308,000

Price per Sq. Ft. $390.32

INCOME, EXPENSES & CASH FLOW

Gross Scheduled Income $197,067

Total Vacancy and Credits ($5,912)

Operating Expenses ($72,438)

Net Operating Income $118,717

Debt Service ($112,990)

Cash Flow Before Taxes $5,728

Total Interest (Debt Service) ($75,462)

Depreciation and Amortization ($84,166)

Taxable Income (Loss) ($40,911)

Tax Savings (Costs) $15,546

Cash Flow After Taxes $21,274

FINANCIAL INDICATORS

Cash on Cash Return Before Taxes 0.33%

Optimal Internal Rate of Return (yr 5) 2.49%

Debt Coverage Ratio 1.05

Capitalization Rate 3.50%

Gross Income / Square Feet $22.70

Gross Expenses / Square Feet ($8.35)

Operating Expense Ratio 37.89%

page 11 of 39


Pro Forma SummaryRETAIL / OFFICE INVESTMENT



TENANT ANNUAL SCHEDULED INCOME

Tenant Actual Market

TOTALS $195,131 $235,800

ANNUALIZED INCOMEActual Market

Gross Potential Rent $195,131 $235,800

Less: Vacancy ($5,912) ($7,074)

Effective Gross Income $189,219 $228,726

Less: Expenses ($72,438) ($72,438)

Net Operating Income $116,781 $156,288

Debt Service ($112,990) ($112,990)

Net Cash Flow after Debt Service $3,792 $43,298

Principal Reduction $37,527 $37,527

Total Return $41,319 $80,826

ANNUALIZED EXPENSES

Actual MarketBuilding Insurance $3,393 $3,393

Janitorial $736 $736

Landscaping $1,360 $1,360

Leasing Fees $9,192 $9,192

Misc $100 $100

Licenses & Fees $296 $296

Repairs & Maintenance $5,795 $5,795

Management Fees $8,690 $8,690

Security $942 $942

Supplies $1,932 $1,932

Taxes - Real Estate (1.13%) $33,900 $33,900

Telephone $939 $939

Utility - PGE $1,089 $1,089

Utility - Sewer $2,384 $2,384

Utility - Water $1,691 $1,691

Total Expenses $72,438 $72,438

Expenses Per RSF $8.35 $8.35

*Expenses per 2014 actual, except property taxes at 1.13% value + vacancy factor of 3%.

INVESTMENT SUMMARY

Price: $3,388,000

Year Built: 2002

Tenants: 11

RSF: 8,680

Price/RSF: $390.32

Lot Size: 7,835 sf

Floors: 2

APN: 022-027-260

Cap Rate: 3.45%

Market Cap Rate: 4.61%

FINANCING SUMMARY

Loan Amount: $1,694,000

Down Payment: $1,694,000

Loan Type: Fixed

Interest Rate: 4.5%

Term: 25 years

Monthly Payment: $9,416

DCR: 1.03

page 12 of 39


Tenant Mix ReportRETAIL / OFFICE INVESTMENT



TENANT MIXES

Suite Tenants Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly400-1 A Grape in the Fog 1152 $2,575 $2,575 $2,700 $2,700400-2 Coldwell Banker - 1152 $2,215 $2,215 $2,600 $2,600400-3 Rockaway 1152 $2,060 $2,060 $2,200 $2,200400-4 De Vera 1152 $1,273 $1,273 $2,200 $2,200400-9 Raina Beach CMT 256 $750 $750 $750 $750400-10 Cynthia Hall 256 $550 $550 $600 $600400-11 Brian Kingston 256 $550 $550 $600 $600200-1 Brett Needleman 1152 $1,354 $1,354 $2,000 $2,000200-2 Norma Lambert 1152 $1,698 $1,698 $2,000 $2,000200-3 Study Log 1152 $2,000 $2,000 $2,000 $2,000200-4 Study Log 1152 $1,236 $1,236 $2,000 $2,00011 9,984 $16,261 $19,650

TENANT MIX TENANT MIX SQUARE FEET

● A Grape in the Fog

● Coldwell Banker - Fahey Properties

● Rockaway Construction

● De Vera Therapeutic

● Raina Beach CMT

● Cynthia Hall

● Brian Kingston

● Brett Needleman

● Norma Lambert McLeod Esq.

● Study Log

● Study Log





● Raina Beach CMT

● Cynthia Hall

● Brian Kingston

● Brett Needleman


● Study Log

● Study LogTENANT MIX INCOME TENANT MIX MARKET INCOME





● Raina Beach CMT

● Cynthia Hall

● Brian Kingston

● Brett Needleman


● Study Log

● Study Log





● Raina Beach CMT

● Cynthia Hall

● Brian Kingston

● Brett Needleman


● Study Log

● Study Logpage 13 of 39


Lease Rent RollRETAIL / OFFICE INVESTMENT



Suite Tenant Start Date Expire Date RSF $/RSF AnnualizedRent

TenantImprovements

Commissions RenewalTerm

RenewalIncrease

Notes

400-1 A Grape in the Fog 10/15/2009 09/30/2018 1,152 $27.29 $31,441 $0.00 $0.00 1 year $954.81 Space includes common patio area seating

400-2 Coldwell Banker - FaheyProperties

12/01/2009 11/30/2019 1,152 $23.36 $26,912 $0.00 $0.00 1 year $845.96 Tenant executed 5 year option to extend termwith 3% annual increases beginning 12-1-14through 11-30-19

400-3 Rockaway Construction 08/15/2009 07/31/2020 1,152 $21.46 $24,720 $0.00 $0.00 1 year $786.76

400-4 De Vera Therapeutic 09/26/2014 12/31/2017 1,152 $13.39 $15,429 $0.00 $0.00 1 year $458.28 Tenant has one 5 year option to extend termwith 3% annual increases beginning 1o-1-12through 5-31-17

400-9 Raina Beach CMT 05/01/2017 04/30/2018 256 $35.16 $9,000 $0.00 $0.00 1 year $270.00 Tenant has 2 (3)year options to extend term atmarket rate

400-10 Cynthia Hall 02/14/2017 04/13/2018 256 $25.78 $6,600 $0.00 $0.00 1 year $198.00 No Options

400-11 Brian Kingston 02/01/2017 01/31/2018 256 $25.97 $6,650 $0.00 $0.00 1 year $198.00 Month to month agreement. Also leases unit400 #1 on lease through 10-31-19

200-1 Brett Needleman 03/01/2014 12/31/2017 1,152 $14.25 $16,410 $0.00 $0.00 1 year $487.44 Month to month agreement

200-2 Norma Lambert McLeod Esq. 07/01/2008 06/30/2018 1,152 $18.13 $20,885 $0.00 $0.00 1 year $629.59 Tenant has one 5 year option to extend leaseon July 1, 2012 through June 30 2017

200-3 Study Log 09/01/2015 01/31/2020 1,152 $20.99 $24,180 $0.00 $0.00 1 year $763.85

200-4 Study Log 01/01/2014 01/31/2020 1,152 $12.88 $14,841 $0.00 $0.00 1 year $0.00 Option to extend negociable

page 14 of 39


Investment AnalysisRETAIL / OFFICE INVESTMENT400 Old County Rd. & 200 San Marlo WayPacifica, CA 94044

Real Estate Investment DetailsRETAIL / OFFICE INVESTMENT



Analysis

Analysis Date May 2017

Property

Property RETAIL / OFFICE INVESTMENT

Property Address 400 Old County Rd. & 200 San Marlo WayPacifica, CA 94044

Year Built 2002

Financial Information

Down Payment $1,694,000

Closing Costs $10,000

LT Capital Gain 20.00%

Federal Tax Rate 28.0%

State Tax Rate 10.0%

Discount Rate 8.00%

Purchase Information

Property Type Commercial

Purchase Price $3,388,000

Tenants 11

Total Rentable Sq. Ft. 8,680

Loans

Type Debt Term Amortization Rate Payment LO Costs

Fixed $1,694,000 25 years 25 years 4.5% $9,416 $16,940

Income & Expenses

Gross Operating Income $191,155

Monthly GOI $15,930

Total Annual Expenses ($72,438)

Monthly Expenses ($6,037)

Contact Information

Greg Cohn, Brett [email protected] #00871792

Brett [email protected] #00893787

Mike [email protected] #01962674

The information contained herein has been obtained from sources we believe to be reliable, but we make no representations or warranties,expressed or implied, as to the accuracy of the information. References to square footage and age are approximate. All information should beverified prior to purchase or sale.

page 16 of 39

Cash Flow AnalysisRETAIL / OFFICE INVESTMENT



Description Year 1 Year 2 Year 3 Year 4 Year 5

GROSS SCHEDULED INCOME $197,067 $202,385 $208,037 $213,831 $219,799

General Vacancy ($5,912) ($6,072) ($6,241) ($6,415) ($6,594)

Total Operating Expenses ($72,438) ($73,548) ($74,676) ($75,824) ($76,991)

NET OPERATING INCOME $118,717 $122,765 $127,119 $131,592 $136,213

Loan Payment ($112,990) ($112,990) ($112,990) ($112,990) ($112,990)

NET CASH FLOW (b/t) $5,728 $9,776 $14,130 $18,602 $23,224

Cash On Cash Return b/t 0.33% 0.57% 0.82% 1.08% 1.35%

NET OPERATING INCOME $118,717 $122,765 $127,119 $131,592 $136,213

Depreciation ($83,489) ($87,125) ($87,125) ($87,125) ($83,500)

Amortization ($678) ($678) ($678) ($678) ($678)

Loan Interest ($75,462) ($73,738) ($71,935) ($70,049) ($68,076)

TAXABLE INCOME (LOSS) ($40,911) ($38,775) ($32,618) ($26,259) ($16,040)

Income Taxes $15,546 $14,735 $12,395 $9,979 $6,095

CASH FLOW (a/t) $21,274 $24,510 $26,525 $28,581 $29,319

Cash On Cash Return a/t 1.24% 1.42% 1.54% 1.66% 1.70%

Footnotes: b/t = before taxes;a/t = after taxes

page 17 of 39


Financial IndicatorsRETAIL / OFFICE INVESTMENT



Description Year 1 Year 2 Year 3 Year 4 Year 5

Gross Rent Multiplier 17.25 16.80 16.34 15.90 15.47

Capitalization Rate 3.50% 3.62% 3.75% 3.88% 4.02%

Cash On Cash Return b/t 0.33% 0.57% 0.82% 1.08% 1.35%

Cash On Cash Return a/t 1.24% 1.42% 1.54% 1.66% 1.70%

Debt Coverage Ratio 1.05 1.09 1.13 1.16 1.21

Gross Income per Sq. Ft. $22.70 $23.32 $23.97 $24.63 $25.32

Expenses per Sq. Ft. ($8.35) ($8.47) ($8.60) ($8.74) ($8.87)

Net Income Multiplier 28.64 27.70 26.75 25.84 24.96

Operating Expense Ratio 37.89% 37.46% 37.01% 36.56% 36.11%

Loan To Value Ratio 48.72% 47.57% 46.36% 45.09% 43.77%

Footnotes: b/t = before taxes; a/t = after taxes

page 18 of 39


Sales ComparablesRETAIL / OFFICE INVESTMENT400 Old County Rd. & 200 San Marlo WayPacifica, CA 94044

388-390 Grand Ave1 Sold: $2,000,000 ($285.71/SF)South SanFrancisco

7,000 SF General Retail/Storefront

3560 Callan Blvd2 Sold: $1,900,000 ($514.07/SF)South SanFrancisco

3,696 SF GeneralRetail/Restaurant

6105-6115 Mission St3 Sold: $790,000 ($177.53/SF)Daly City 4,450 SF GeneralRetail/Freestanding

504 Avenue Alhambra4 Sold: $1,220,000 ($151.55/SF)El Granada 8,050 SF Class B Office

730 Main St5 Sold: $925,000 ($402.17/SF)Half MoonBay

2,300 SF GeneralRetail/Restaurant

575-585 Kelly St6 Sold: $2,000,000 ($327.87/SF)Half MoonBay

6,100 SF Class COffice/Office/Residential

6835 Mission St7 Sold: $3,200,000 ($533.33/SF)Daly City 6,000 SF GeneralRetail/Freestanding

248 Main St8 For Sale: $3,500,000 ($423.47/SF)Half MoonBay

8,265 SF Class B Office

700 Monta Vista Ln9 For Sale: $3,250,000 ($590.91/SF)Half MoonBay

5,500 SF Class C Office

Address City Property Info Sale Info

Copyrighted report licensed to Capital Realty Group, Inc. - 75321. 7/9/2015

Page 1

504 Avenue Alhambra

Harbor VistaEl Granada, CA 94018

Class B Office Building of 8,050 SF Sold on 6/20/2014 for$1,220,000 - Non-Arms Length - Research Complete

buyer

Working Dirt Llc

Alaw

seller

vital data

Sale Date: 6/20/2014

Days on Market: -

Exchange: No

Conditions: -

Land Area SF: 10,977

Acres: 0.25

$/SF Land Gross: $111.14

Year Built, Age: 1999 Age: 14

Parking Spaces: 27

Parking Ratio: 3.83/1000 SF

FAR 0.73

Lot Dimensions: -

Frontage: -

Comp ID: 3073711

Sale Price: $1,220,000

Status: -

Building SF: 8,050 SF

Price/SF: $151.55

Pro Forma Cap Rate: -

Actual Cap Rate: -

Down Pmnt: -

Pct Down: -

Doc No: 054631

Trans Tax: -

Corner: No

Zoning: C1-S3, El Granada

No Tenants: 2

Percent Improved: 52.6%

Submarket: El Granada/Montara

Property Type: Office

MultiTenancy:

Parcel No: 047-204-120

Map Page: Thomas Bros. Guide 767-A3

Escrow/Contract: -

income expense data

$25,113

$25,113

Total Expenses

- Operating Expenses

- TaxesExpenses

Listing Broker

Buyer Broker

prior sale

Date/Doc No:

Sale Price:

CompID:

11/10/2003

$1,900,000

852140

financing

1st Private Lender

Bal/Pmt: $1,000,000


Page 1

3560 Callan Blvd

South San Francisco, CA 94080

Restaurant Building of 3,696 SF Sold on 3/14/2014 for$1,900,000 - Research Complete

buyer

Claire Haggarty

Gamos Joshua G

(650) 834-0865

seller

vital data


Days on Market: -

Exchange: No

Conditions: -


Acres: 0.5



Parking Spaces: 9


FAR 0.17

Lot Dimensions: 145x150

Frontage: 150 feet on Callan

Comp ID: 3000707


Status: Full Value


Price/SF: $514.07


Actual Cap Rate: -

Down Pmnt: $1,000,000

Pct Down: 52.6%

Doc No: 021448

Trans Tax: $0

Corner: No

Zoning: PC000C, South S.F.


Submarket: South SF West of 101 Fwy

Property Type: Retail

MultiTenancy:

Parcel No: 091-150-430

Map Page: -

Escrow/Contract: -

income expense data

$11,059

$11,059

Total Expenses


- TaxesExpenses

Listing Broker

Achievers Realty Group851 Burlway RdBurlingame, CA 94010(650) 242-1800Sylvia Villanueva

Buyer Broker

Achievers Realty Group851 Burlway RdBurlingame, CA 94010(650) 242-1800Sylvia Villanueva

prior sale

Date/Doc No:

Sale Price:

CompID:

8/22/2012

$1,000,000

2559934

financing

1st First Nat'l Bk/nthrn Ca

Bal/Pmt: $900,000


Page 2

388-390 Grand Ave

South San Francisco, CA 94080

Storefront Building of 7,000 SF Sold on 2/18/2014 for$2,000,000 - Research Complete

buyer

Jose Hernandez4600 Mission StSan Francisco, CA 94112(415) 587-6025

Jose De Jesus & Rita Hernandez3448 Anza StSan Francisco, CA 94121(415) 876-0381

seller

vital data


Days on Market: -

Exchange: No

Conditions: -

Land Area SF: 7,000

Acres: 0.16


Year Built, Age: -

Parking Spaces: -

Parking Ratio: -

FAR 1.00


Frontage: 50 feet on Grand

Comp ID: 2990333


Status: Full Value


Price/SF: $285.71


Actual Cap Rate: -

Down Pmnt: $1,000,000

Pct Down: 50.0%

Doc No: 015988

Trans Tax: $2,200

Corner: No

Zoning: CL00C2, South S.F.

No Tenants: 1


Submarket: South SF West of 101 Fwy


MultiTenancy:

Parcel No: 012-312-330

Map Page: -

Escrow/Contract: -

income expense data

$15,772

$15,772

Total Expenses


- TaxesExpenses

Listing Broker

Buyer Broker

prior sale

Date/Doc No:

Sale Price:

CompID:

7/25/2003

$960,000

793109

financing

1st JP Morgan Chase Bank, N.A.

Bal/Pmt: $1,000,000


Page 3

575-585 Kelly St

Half Moon Bay, CA 94019

Class C Office/Residential Building of 6,100 SF Sold on1/2/2015 for $2,000,000 - Research Complete

buyer

John Marren880 Hillsborough BlvdHillsborough, CA 94010(650) 579-0200

Denise Desalernos

seller

vital data

Sale Date: 1/2/2015

Days on Market: -

Exchange: No

Conditions: Deferred Maintenance


Acres: 0.23



Parking Spaces: 14


FAR 0.60

Lot Dimensions: -

Frontage: -

Comp ID: 3219683


Status: Confirmed


Price/SF: $327.87


Actual Cap Rate: 4.59%

Down Pmnt: $2,000,000

Pct Down: 100.0%

Doc No: 000021

Trans Tax: $2,200

Corner: No

Zoning: CH00C2

No Tenants: 3


Submarket: Half Moon Bay


MultiTenancy:

Parcel No: 056-162-120

Map Page: Thomas Bros. Guide 787-F1

Escrow/Contract: 60 days

income expense data

$142,039

Effective Gross Income

- Vacancy Allowance

+ Other Income

Gross Scheduled IncomeIncome

$50,246Total Expenses


- TaxesExpenses

Cash Flow

$91,793

- Capital Expenditure

- Debt Service

Net Operating IncomeNet Income

Listing Broker

Krakow Company Real Estate

(650) 344-4876Chad Krakow

Buyer Broker

Krakow Company Real Estate

(650) 344-4876Chad Krakow

prior sale

Date/Doc No:

Sale Price:

CompID:

7/23/2012

-

2613046

financing


Page 4

248 Main St


8,265 SF Office Building Built in Aug 1998Property is for sale at $3,500,000 ($423.47/SF)

buyer

For Sale

-

seller

vital data

Days on Market: 616 days

Conditions: -

Land Area SF: 21,780 SF

Acres: 0.50 AC

$/SF Land Gross: -


Parking Spaces: 33

Parking Ratio: 4/1000 SF

FAR 0.38

Lot Dimensions: -

Frontage: -

Asking Price: $3,500,000

Status: For Sale


Price/SF: $423.47

Pct Office: -

Actual Cap Rate: -

Corner: No

Zoning: CHOOC2



Map Page: Thomas Bros. Guide 749-A1

056-240-070Parcel No:

income expense data Listing Broker

Starboard TCN Worldwide Real Estate33 New Montgomery StSan Francisco, CA 94105(415) 765-6900Frank Vella

Buyer Broker


Page 5

730 Main St


Restaurant Building of 2,300 SF Sold on 8/20/2014 for $925,000- Research Complete

buyer

THOMAS J MCGUIRK2180 Sand Hill RdMenlo Park, CA 94025

Port Cheddar Landholdings Llc730 MainHalf Moon Bay, CA 94019

seller

vital data



Exchange: No

Conditions: -

Land Area SF: 4,360

Acres: 0.1



Parking Spaces: 1


FAR 0.53


Frontage: 49 feet on Main St (with 0 curb cut)

Comp ID: 3100829

Sale Price: $925,000

Status: Confirmed


Price/SF: $402.17


Actual Cap Rate: -

Down Pmnt: $325,000

Pct Down: 35.1%

Doc No: 075228

Trans Tax: $1,017.50

Corner: No

Zoning: C-2




SingleTenancy:

Parcel No: 056-191-240

Map Page: Thomas Bros. Guide 787-F2

Escrow/Contract: -

income expense data

$9,898

$9,898

Total Expenses


- TaxesExpenses

Listing Broker

Kinghorn Commercial1161 Cherry StSan Carlos, CA 94070(650) 918-4388Randy Kinghorn

Buyer Broker

prior sale

Date/Doc No:

Sale Price:

CompID:

3/15/2002

$625,000

643135

financing

1st First National Bank of Northern California

Bal/Pmt: $600,000


Page 6

6105-6115 Mission St

Clean X-PressDaly City, CA 94014

Freestanding Building of 4,450 SF Sold on 5/5/2014 for$790,000 - Research Complete

buyer

Hill-Tucker Investments LLCPO Box 16066Oakland, CA 94610

Harold James Field3388 Johnson RdLafayette, CA 94549(510) 932-5956

seller

vital data

Sale Date: 5/5/2014

Days on Market: -

Exchange: No

Conditions: Distress Sale

Land Area SF: 7,880

Acres: 0.18



Parking Spaces: 6


FAR 0.56


Frontage: 129 feet on Mission St (with 1 curb cut)

Comp ID: 3036797

Sale Price: $790,000

Status: Confirmed


Price/SF: $177.53


Actual Cap Rate: -

Down Pmnt: $275,000

Pct Down: 34.8%

Doc No: 037032

Trans Tax: $869

Corner: No

Zoning: C1, Daly City

No Tenants: 1


Submarket: Brisbane/Daly City


SingleTenancy:

Parcel No: 004-060-480

Map Page: Thomas Bros. Guide 687-D3

Escrow/Contract: -

income expense data

$45,305

$45,305

Total Expenses


- TaxesExpenses

Listing Broker

No Listing Broker on Deal

Buyer Broker

No Buyer Broker on Deal

prior sale

Date/Doc No:

Sale Price:

CompID:

4/2/1998

$810,000

237364

financing

1st Redwood Mtg Invtrs Viii

Bal/Pmt: $515,000


Page 7

6835 Mission St

Mission PlazaDaly City, CA 94014

Freestanding (Neighborhood Center) Building of 6,000 SF Soldon 2/20/2015 for $3,200,000 - Research Complete

buyer

Serra Corporation4174 Technology DrFremont, CA 94538(510) 656-2499

CHWD, Inc.19352 Shubert DrSaratoga, CA 95070(408) 252-1997

seller

vital data


Days on Market: -

Exchange: Yes

Conditions: 1031 Exchange


Acres: 0.45


Year Built, Age: -

Parking Spaces: 10


FAR 0.31

Lot Dimensions: -

Frontage: 560 feet on Mission St (with 2 curb cuts)

Comp ID: 3264346


Status: Confirmed


Price/SF: $533.33


Actual Cap Rate: 5.00%

Down Pmnt: $3,200,000

Pct Down: 100.0%

Doc No: 014880

Trans Tax: $3,520

Corner: No

Zoning: CL00C1

No Tenants: 1


Submarket: Brisbane/Daly City


SingleTenancy:

Parcel No: 003-480-080

Map Page: -

Escrow/Contract: 30 days


CBRE225 W Santa Clara StSan Jose, CA 95113(408) 453-7400Bob Bower

Buyer Broker

CBRE225 W Santa Clara StSan Jose, CA 95113(408) 453-7400Bob Bower

prior sale

Date/Doc No:

Sale Price:

CompID:

12/30/2013

$2,375,000

2920602

financing


Page 8

700 Monta Vista Ln


5,500 SF Office BuildingProperty is for sale at $3,250,000 ($590.91/SF)

buyer

For Sale

-

seller

vital data


Conditions: -

Land Area SF: 16,819 SF

Acres: 0.39 AC

$/SF Land Gross: -

Year Built, Age: -

Parking Spaces: 40


FAR 0.33

Lot Dimensions: -

Frontage: -

Asking Price: $3,250,000

Status: For Sale


Price/SF: $590.91

Pct Office: -

Actual Cap Rate: -

Corner: No

Zoning: -



Map Page: -

056-210-370 [Partial List]Parcel No:


Alain Pinel Realtors42 N Cabrillo HwyHalf Moon Bay, CA 94019(650) 712-1700Patrick J. Ryan

Buyer Broker


Page 9

2

RBA

Price per SF

Actual Cap Rate

Days on Market

Sale Price to Asking Price Ratio

-

$3,250,000

5,500 SF

$423.47

-

183

$3,375,000

6,882 SF

$490.37

-

400

-

$3,375,000

6,882 SF

$507.19

-

400

-

$3,500,000

8,265 SF

$590.91

-

616

-

2

2

2

Price

For Sale & UC/Pending

Sold Transactions $1,220,000 $1,610,000 $1,610,000 $2,000,000 2


Sold Transactions 6,100 SF 7,075 SF 7,075 SF 8,050 SF

$151.55 $227.56 2

4.59% 4.59%

$239.71 $327.87

4.59% 4.59%

-

1


Sold Transactions


Sold Transactions


Sold Transactions

Sold Transactions

- - - -

2

-

-

Office

-

Center Size

Price per SF

Actual Cap Rate

Days on Market

Sale Price to Asking Price Ratio

97.37%

-

-

-

-

-

-

-

-

-

97.37%

-

-

-

-

-

97.37%

-

-

-

-

-

97.37%

-

5

-

Price


Sold Transactions $790,000 $1,763,000 $1,900,000 $3,200,000 5


Sold Transactions 2,300 SF 4,689 SF 4,450 SF 7,000 SF

$177.53 $375.97 5

5.00% 5.00%

$402.17 $533.33

5.00% 5.00%

-

1


Sold Transactions


Sold Transactions


Sold Transactions

Sold Transactions

93 93 93 93

-

1

1

General Retail

Comps Statistics

CountHighMedianAverageLow

Quick Stats Report


Page 1

Total Included in Analysis:

Totals

Asking Price Total: Total For Sale Transactions:

Total Sales Volume: Total Sales Transactions:

Total Included in Analysis:


Sold Transactions

$6,750,000

$12,035,000

$18,785,000 9

2

7

Survey Criteria

basic criteria: Type of Property - Retail, Specialty, Office, Shopping Center; Property Size - 2,000 - 12,000SF; Sale Date - from 1/1/2014; Sale Status - Under Contract/Pending, Sold, For Sale

geography criteria: City - Colma, CA; Daly City, CA; El Granada, CA; Half Moon Bay, CA; Moss Beach, CA;Pacifica, CA; Princeton By The Sea, CA; South San Francisco, CA

additional criteria: - * This result set has been amended with criteria to add and/or remove records.

CountHighMedianAverageLow

Quick Stats Report


Page 2

Dollar Volume # of Transactions

Cap Rate Average Price Per SF

Legend:

Current Survey

Sold Transactions7

$12,035,0002

$6,750,000Number of TransactionsTotal Dollar Volume

37,5961.87

13,7650.89

Total Bldg Square FeetTotal Land in Acres

81,457$1,719,286

38,599$3,375,000

Total Land in SFAverage Price

5,371$320.11

6,883$490.37

Average Number of SFAverage Price Per Bldg SF

$327.870.27

$507.190.44

Median Price Per SFAverage Number of Acres

11,637-

19,299-

Average Number of SF(Land)Average Price Per Unit

--

--

Median Price Per UnitAverage Number of Units

4.84%Actual Cap Rate

SoldTransactions

For Sale &UC/Pending

-

Time Interval - Quarterly

Report Time Frame: 1/1/2014 - 7/9/2015Sale Date: from 1/1/2014

Survey Criteria

basic criteria: Type of Property - Retail, Specialty, Office, Shopping Center; Property Size - 2,000 - 12,000SF; Sale Date - from 1/1/2014; Sale Status - Under Contract/Pending, Sold, For Sale

geography criteria: City - Colma, CA; Daly City, CA; El Granada, CA; Half Moon Bay, CA; Moss Beach, CA;Pacifica, CA; Princeton By The Sea, CA; South San Francisco, CA

additional criteria: - * This result set has been amended with criteria to add and/or remove records.

Trend Report


Page 1

Trend Report

2Q14 04/01-6/30/141Q14 01/01-3/31/14

For Sale & UC/Pending For Sale & UC/Pending

1Q14 01/01-3/31/14 2Q14 04/01-6/30/14

Number of TransactionsTotal Dollar VolumeTotal Bldg Square FeetTotal Land in AcresTotal Land in SFAverage PriceAverage Number of SFAverage Price Per Bldg SFMedian Price Per SFAverage Number of AcresAverage Number of SF(Land)Average Price Per UnitMedian Price Per UnitAverage Number of UnitsActual Cap Rate

Sold TransactionSold Transaction

2$3,900,000

10,6960.66

28,750$1,950,000

5,348$364.62$399.89

0.3314,375

----

0$0

0---0--------

2$2,010,000

12,5000.43

18,731$1,005,000

6,250$160.80$164.54

0.229,365

----

0$0

0---0--------

1Q15 01/01-3/31/153Q14 07/01-9/30/14

For Sale & UC/Pending For Sale & UC/Pending

3Q14 07/01-9/30/14 1Q15 01/01-3/31/15


Sold TransactionSold Transaction

1$925,000

2,3000.10

4,356$925,000

2,300$402.17$402.17

0.104,356

----

0$0

0---0--------

2$5,200,000

12,1000.68

29,621$2,600,000

6,050$429.75$430.60

0.3414,810

---

4.84%

0$0

0---0--------

3Q15 07/01-7/9/15


3Q15 07/01-9/30/15


Sold Transaction

0$0

0---0--------

2$6,750,000

13,7650.89

38,599$3,375,000

6,883$490.37$507.19

0.4419,299

----


Page 2

DemographicsRETAIL / OFFICE INVESTMENT400 Old County Rd. & 200 San Marlo WayPacifica, CA 94044

-

100%

0 SF

543 SF

1,000 SF

Class B Office

Rent/SF/Mo:

% Leased:

Total Available:

Typical Floor:

RBA:

Building Type:

BClass:

Radius 1 Mile 3 Mile 5 Mile

Population

2022 Projection 4,086 47,951 177,926

2017 Estimate 3,889 45,554 169,904

2010 Census 3,576 41,401 159,297

Growth 2017 - 2022 5.07% 5.26% 4.72%

Growth 2010 - 2017 8.75% 10.03% 6.66%

2017 Population by Hispanic Origin 517 7,146 34,115

2017 Population 3,889 45,554 169,904

White 3,013 77.47% 28,674 62.95% 82,239 48.40%

Black 48 1.23% 1,018 2.23% 4,313 2.54%

Am. Indian & Alaskan 21 0.54% 345 0.76% 1,276 0.75%

Asian 531 13.65% 12,116 26.60% 70,721 41.62%

Hawaiian & Pacific Island 26 0.67% 549 1.21% 2,780 1.64%

Other 250 6.43% 2,852 6.26% 8,576 5.05%

U.S. Armed Forces 0 41 81

Households

2022 Projection 1,528 17,201 61,996

2017 Estimate 1,458 16,371 59,213

2010 Census 1,357 14,997 55,426

Growth 2017 - 2022 4.80% 5.07% 4.70%

Growth 2010 - 2017 7.44% 9.16% 6.83%

Owner Occupied 1,192 81.76% 11,908 72.74% 38,813 65.55%

Renter Occupied 266 18.24% 4,463 27.26% 20,400 34.45%

2017 Households by HH Income 1,457 16,369 59,214

Income: <$25,000 97 6.66% 1,283 7.84% 5,957 10.06%

Income: $25,000 - $50,000 137 9.40% 1,961 11.98% 7,817 13.20%

Income: $50,000 - $75,000 160 10.98% 1,914 11.69% 7,900 13.34%

Income: $75,000 - $100,000 121 8.30% 1,920 11.73% 8,078 13.64%

Income: $100,000 - $125,000 179 12.29% 1,883 11.50% 7,360 12.43%

Income: $125,000 - $150,000 268 18.39% 2,016 12.32% 6,045 10.21%

Income: $150,000 - $200,000 205 14.07% 2,399 14.66% 8,051 13.60%

Income: $200,000+ 290 19.90% 2,993 18.28% 8,006 13.52%

2017 Avg Household Income $143,917 $135,396 $120,469

2017 Med Household Income $128,218 $114,690 $99,550

Demographic Summary Report

Bldg B400 Old County Rd, Pacifica, CA 94044

Information deemed reliable, but, not guaranteedCopyrighted report licensed to Capital Realty Group, Inc. - 75321.

5/15/2017

Page 1

-

100%

0 SF

543 SF

1,000 SF

B

Class B Office

Rent/SF/Mo:

% Leased:

Total Available:

Typical Floor:

RBA:

Class:

Building Type:


Population

2022 Projection 4,086 47,951 177,926

2017 Estimate 3,889 45,554 169,904

2010 Census 3,576 41,401 159,297

Growth 2017 - 2022 5.07% 5.26% 4.72%

Growth 2010 - 2017 8.75% 10.03% 6.66%

2017 Population by Age 3,889 45,554 169,904

Age 0 - 4 196 5.04% 2,480 5.44% 9,936 5.85%

Age 5 - 9 209 5.37% 2,409 5.29% 9,250 5.44%

Age 10 - 14 223 5.73% 2,452 5.38% 8,947 5.27%

Age 15 - 19 219 5.63% 2,403 5.28% 8,636 5.08%

Age 20 - 24 211 5.43% 2,511 5.51% 9,389 5.53%

Age 25 - 29 206 5.30% 2,838 6.23% 11,555 6.80%

Age 30 - 34 199 5.12% 2,979 6.54% 12,791 7.53%

Age 35 - 39 210 5.40% 2,929 6.43% 12,229 7.20%

Age 40 - 44 254 6.53% 2,995 6.57% 11,461 6.75%

Age 45 - 49 298 7.66% 3,259 7.15% 11,547 6.80%

Age 50 - 54 340 8.74% 3,599 7.90% 12,295 7.24%

Age 55 - 59 356 9.15% 3,705 8.13% 12,398 7.30%

Age 60 - 64 322 8.28% 3,359 7.37% 11,251 6.62%

Age 65 - 69 253 6.51% 2,746 6.03% 9,446 5.56%

Age 70 - 74 155 3.99% 1,863 4.09% 6,697 3.94%

Age 75 - 79 97 2.49% 1,257 2.76% 4,776 2.81%

Age 80 - 84 67 1.72% 849 1.86% 3,389 1.99%

Age 85+ 75 1.93% 918 2.02% 3,912 2.30%

Age 65+ 647 16.64% 7,633 16.76% 28,220 16.61%

Median Age 45.30 43.00 41.00

Average Age 41.90 41.30 40.60

Demographic Detail Report



5/15/2017

Page 2




2017 Population By Race 3,889 45,554 169,904

White 3,013 77.47% 28,674 62.95% 82,239 48.40%

Black 48 1.23% 1,018 2.23% 4,313 2.54%

Am. Indian & Alaskan 21 0.54% 345 0.76% 1,276 0.75%

Asian 531 13.65% 12,116 26.60% 70,721 41.62%

Hawaiian & Pacific Island 26 0.67% 549 1.21% 2,780 1.64%

Other 250 6.43% 2,852 6.26% 8,576 5.05%

Population by Hispanic Origin 3,889 45,554 169,904

Non-Hispanic Origin 3,371 86.68% 38,408 84.31% 135,790 79.92%

Hispanic Origin 518 13.32% 7,146 15.69% 34,114 20.08%

2017 Median Age, Male 43.90 41.40 39.40

2017 Average Age, Male 40.90 40.20 39.30

2017 Median Age, Female 46.30 44.50 42.60

2017 Average Age, Female 42.80 42.30 41.80

2017 Population by OccupationClassification

3,217 37,732 140,048

Civilian Employed 2,298 71.43% 25,434 67.41% 93,139 66.51%

Civilian Unemployed 42 1.31% 754 2.00% 3,226 2.30%

Civilian Non-Labor Force 877 27.26% 11,505 30.49% 43,606 31.14%

Armed Forces 0 0.00% 39 0.10% 77 0.05%

Households by Marital Status

Married 828 9,110 31,366

Married No Children 468 5,303 18,311

Married w/Children 360 3,807 13,055

2017 Population by Education 3,098 35,193 132,176

Some High School, No Diploma 171 5.52% 2,216 6.30% 11,784 8.92%

High School Grad (Incl Equivalency) 426 13.75% 6,275 17.83% 24,000 18.16%

Some College, No Degree 919 29.66% 11,479 32.62% 41,850 31.66%

Associate Degree 268 8.65% 1,896 5.39% 8,431 6.38%

Bachelor Degree 828 26.73% 8,926 25.36% 33,584 25.41%

Advanced Degree 486 15.69% 4,401 12.51% 12,527 9.48%


5/15/2017

Page 3




2017 Population by Occupation 4,304 49,265 183,199

Real Estate & Finance 182 4.23% 1,956 3.97% 6,744 3.68%

Professional & Management 1,385 32.18% 14,743 29.93% 48,735 26.60%

Public Administration 140 3.25% 1,785 3.62% 5,164 2.82%

Education & Health 499 11.59% 5,921 12.02% 21,766 11.88%

Services 485 11.27% 4,125 8.37% 16,785 9.16%

Information 58 1.35% 733 1.49% 2,521 1.38%

Sales 480 11.15% 6,009 12.20% 24,823 13.55%

Transportation 159 3.69% 2,040 4.14% 10,066 5.49%

Retail 129 3.00% 2,654 5.39% 11,164 6.09%

Wholesale 9 0.21% 671 1.36% 2,381 1.30%

Manufacturing 145 3.37% 1,278 2.59% 5,448 2.97%

Production 117 2.72% 1,857 3.77% 8,340 4.55%

Construction 127 2.95% 2,049 4.16% 6,135 3.35%

Utilities 132 3.07% 1,671 3.39% 7,664 4.18%

Agriculture & Mining 13 0.30% 119 0.24% 282 0.15%

Farming, Fishing, Forestry 14 0.33% 87 0.18% 159 0.09%

Other Services 230 5.34% 1,567 3.18% 5,022 2.74%

2017 Worker Travel Time to Job 2,113 24,030 90,142

<30 Minutes 1,082 51.21% 12,646 52.63% 51,226 56.83%

30-60 Minutes 899 42.55% 9,361 38.96% 32,041 35.55%

60+ Minutes 132 6.25% 2,023 8.42% 6,875 7.63%

2010 Households by HH Size 1,357 14,996 55,426

1-Person Households 284 20.93% 3,093 20.63% 12,283 22.16%




5-Person Households 72 5.31% 970 6.47% 4,146 7.48%

6-Person Households 27 1.99% 405 2.70% 1,890 3.41%

7 or more Person Households 8 0.59% 289 1.93% 1,883 3.40%

2017 Average Household Size 2.60 2.70 2.80

Households

2022 Projection 1,528 17,201 61,996

2017 Estimate 1,458 16,371 59,213

2010 Census 1,357 14,997 55,426

Growth 2017 - 2022 4.80% 5.07% 4.70%

Growth 2010 - 2017 7.44% 9.16% 6.83%


5/15/2017

Page 4




2017 Households by HH Income 1,457 16,369 59,214

<$25,000 97 6.66% 1,283 7.84% 5,957 10.06%

$25,000 - $50,000 137 9.40% 1,961 11.98% 7,817 13.20%

$50,000 - $75,000 160 10.98% 1,914 11.69% 7,900 13.34%

$75,000 - $100,000 121 8.30% 1,920 11.73% 8,078 13.64%

$100,000 - $125,000 179 12.29% 1,883 11.50% 7,360 12.43%

$125,000 - $150,000 268 18.39% 2,016 12.32% 6,045 10.21%

$150,000 - $200,000 205 14.07% 2,399 14.66% 8,051 13.60%

$200,000+ 290 19.90% 2,993 18.28% 8,006 13.52%

2017 Avg Household Income $143,917 $135,396 $120,469

2017 Med Household Income $128,218 $114,690 $99,550

2017 Occupied Housing 1,458 16,371 59,213

Owner Occupied 1,192 81.76% 11,908 72.74% 38,813 65.55%

Renter Occupied 266 18.24% 4,463 27.26% 20,400 34.45%

2010 Housing Units 1,491 16,780 61,018

1 Unit 1,351 90.61% 14,048 83.72% 43,144 70.71%

2 - 4 Units 44 2.95% 664 3.96% 3,611 5.92%

5 - 19 Units 61 4.09% 1,054 6.28% 5,330 8.74%

20+ Units 35 2.35% 1,014 6.04% 8,933 14.64%

2017 Housing Value 1,192 11,910 38,813

<$100,000 3 0.25% 127 1.07% 660 1.70%

$100,000 - $200,000 0 0.00% 27 0.23% 799 2.06%

$200,000 - $300,000 7 0.59% 55 0.46% 1,020 2.63%

$300,000 - $400,000 8 0.67% 265 2.23% 1,261 3.25%

$400,000 - $500,000 47 3.94% 575 4.83% 2,284 5.88%

$500,000 - $1,000,000 885 74.24% 9,464 79.46% 28,258 72.81%

$1,000,000+ 242 20.30% 1,397 11.73% 4,531 11.67%

2017 Median Home Value $799,999 $759,192 $736,791

2017 Housing Units by Yr Built 1,492 16,858 61,675

Built 2010+ 101 6.77% 1,363 8.09% 4,310 6.99%

Built 2000 - 2010 76 5.09% 367 2.18% 2,710 4.39%

Built 1990 - 1999 163 10.92% 816 4.84% 2,282 3.70%

Built 1980 - 1989 109 7.31% 1,151 6.83% 4,291 6.96%

Built 1970 - 1979 93 6.23% 2,519 14.94% 11,528 18.69%

Built 1960 - 1969 211 14.14% 4,468 26.50% 13,324 21.60%

Built 1950 - 1959 596 39.95% 4,822 28.60% 15,678 25.42%

Built <1949 143 9.58% 1,352 8.02% 7,552 12.24%

2017 Median Year Built 1959 1964 1965


5/15/2017

Page 5

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