small commercial building with lot...140 w. mission road fallbrook 172,000$ 3,703 $ 46.45 10/26/2017...

312 S. Main Avenue | Fallbrook, CA

Lee & Associates Commercial Real Estate Services - NSDC | 1900 Wright Place Suite 200 - Carlsbad, CA 92008 | P: (760) 929-9700 F: (760) 929-9977

SMALL COMMERCIAL BUILDING WITH LOT

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice. Any of the foregoing information will need to be separately verified by Buyer.

Exclusively Listed By:

LEE & ASSOCIATESCommercial Real Estate Services

Patrick Miller, CCIM760.448.2445

[email protected] Lic# 00296599

Al Apuzzo, Principal760.448.2442


90% OWNER-USERFINANCING AVAILABLE

DISCLAIMER

Lee & Associates hereby advises all prospective purchasers of this property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Lee & Associates has not and will not verify any of this information, nor has Lee & Associates conducted any investigation regarding these matters. Lee & Associates makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of this property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Lee & Associates expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a single-tenant property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any single-tenant property to determine to your satisfaction withthe suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Lee & Associates Investments and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.

Lee & Associates Commercial Real Estate Services - NSDC | 1900 Wright Place Suite 200 - Carlsbad, CA 92008 | P: (760) 929-9700 F: (760) 929-9977

312 S. Main Avenue | Fallbrook, CA

TABLE OF CONTENTS

Executive Summary 4

Property & Investment Overview 5

Property Photos 6

Parcel Map 7

Aerial 8

Location Map 10

Sales Comparables 11

Area Overview 13

Demographic Summary 14


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EXECUTIVE SUMMARY

INVESTMENT & PROPERTY SUMMARYPrice: $800,000Address: 312 S. Main Avenue

Fallbrook, CA 92028Building Size: 1,000 Square Feet

Land Size: .58 AcresPrice/SF Building: $800.00Price/SF Land: $31.66Ownership: Fee SimpleAPN: 104-055-22-00Zoning: FB-V4 (Click Here to View Zoning)General Plan: Village Core Mixed UseAllowable Uses: General Retail, Automotive, Equipment Sales,

Rental & Repair, Veterinary Clinic, Office & Medical and Restaurant

Parking: Approx. 20+ Stalls

DEMOGRAPHICS

Demographics: 1 Mile 3 Miles 5 Miles2017 Population 17,598 31,509 44,023Households 5,248 10,133 14,348Average HH Income $61,368 $75,650 $83,573

TRAFFIC COUNTS

Traffic Counts: Vehicles Per DayS. Main Avenue 5,000

ENVIRONMENTAL INFORMATION

The property was the former location of Mahr’s Texaco. On March 14, 2013, the California Regional Water Quality Control Board issued a No Further Action Letter.Click Here for No Further Action Letter

http://www.lee-associates.com/elee/sandiego/LeeLandTeam/312SMain/FallbrookVillageZoning.pdf

http://www.lee-associates.com/elee/sandiego/LeeLandTeam/312SMain/NFA_LETTER.pdf


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PROPERTY OVERVIEW

Lee & Associates is pleased to exclusively offer for sale an approximate 1,000 square foot commercial building on .58 acres of commercial land in Fallbrook, California. The subject property is located in northern San Diego County. Strategically positioned with frontage at the southeast corner of S. Main Avenue and Elder Street Avenue in Downtown Fallbrook and within close proximity to national retailers, and accessibility within a few miles of both Interstate 15 and California State Highway 76. Mission Road also serves as San Diego County Highway S 13.

INVESTMENT OVERVIEW

The subject property is currently vacant. The property zoning is FB-V4 which allows for general commercial uses, office, medical & restaurant. There is an immediate opportunity for an owner-user, a savvy investor to re-tenant at market rental rates and hold for future development of the site within a much broader zoning.

PROPERTY HIGHLIGHTS

• High Desirable Zoning: The property is Zoned FB-V4 (Fallbrook Village 4), which is a commercial zone that allows a variety of general retail, office and medical uses.

• Urban Core Location: The site is located in the Fallbrook urban core and is adjacent to the east of S. Main Avenue.

• Excellent Visibility & Traffic Counts: The subject property is located at the southeast corner of S. Main Avenue & Elder Street, which sees traffic counts of 5,000 cars per day on Main Avenue.

• Strong Demographics: There are over 31,500 residents within a 3 mile radius of the subject property with an average household income $75,650.

PROPERTY & INVESTMENT OVERVIEW


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PROPERTY PHOTOS


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PARCEL MAPTax Map 312 S Main Ave, Fallbrook, CA 92028

Tax Map 312 S Main Ave, Fallbrook, CA 92028 10/26/2017 Page 1 (of 1)

©2005-2017 First American Financial Corporation and/or its affiliates. All rights reserved.

Limitation of Liability for Informational ReportIMPORTANT – READ CAREFULLY:THIS REPORT IS NOT AN INSURED PRODUCT OR SERVICE OR A REPRESENTATION OF THE CONDITIONOF TITLE TO REAL PROPERTY. IT IS NOT AN ABSTRACT, LEGAL OPINION, OPINION OF TITLE, TITLE INSURANCE COMMITMENT ORPRELIMINARY REPORT, OR ANY FORM OF TITLE INSURANCE OR GUARANTY. THIS REPORT IS ISSUED EXCLUSIVELY FOR THE BENEFITOF THE APPLICANT THEREFOR, AND MAY NOT BE USED OR RELIED UPON BY ANY OTHER PERSON. THIS REPORT MAY NOT BEREPRODUCED IN ANY MANNER WITHOUT FIRST AMERICAN’S PRIOR WRITTEN CONSENT. FIRST AMERICAN DOES NOT REPRESENT ORWARRANT THAT THE INFORMATION HEREIN IS COMPLETE OR FREE FROM ERROR, AND THE INFORMATION HEREIN IS PROVIDEDWITHOUT ANY WARRANTIES OF ANY KIND, AS-IS, AND WITH ALL FAULTS. AS A MATERIAL PART OF THE CONSIDERATION GIVEN INEXCHANGE FOR THE ISSUANCE OF THIS REPORT, RECIPIENT AGREES THAT FIRST AMERICAN’S SOLE LIABILITY FOR ANY LOSS ORDAMAGE CAUSED BY AN ERROR OR OMISSION DUE TO INACCURATE INFORMATION OR NEGLIGENCE IN PREPARING THIS REPORTSHALL BE LIMITED TO THE FEE CHARGED FOR THE REPORT. RECIPIENT ACCEPTS THIS REPORT WITH THIS LIMITATION AND AGREESTHAT FIRST AMERICAN WOULD NOT HAVE ISSUED THIS REPORT BUT FOR THE LIMITATION OF LIABILITY DESCRIBED ABOVE. FIRSTAMERICAN MAKES NO REPRESENTATION OR WARRANTY AS TO THE LEGALITY OR PROPRIETY OF RECIPIENT’S USE OF THEINFORMATION HEREIN.


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AERIAL OVERVIEW

S Main Ave

E Elder St

E College St

Subject Property


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AERIAL OVERVIEW

Major Market

Fallbrook Street Elementary

FallbrookHospital

Subject Property

S M

ain

Ave

S M

issi

on R

d

E Elder Ave

E Fallbrook St

W Aviation Rd

Maie Ellis Elementary

Old

Sta

ge R

d

Elbr

ook

Dr


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LOCATION MAP

Subject Property


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LEASE COMPARABLES

Property City Sale Price Land SF $/Land SF Sale Date Building Coverage Notes520-522 S. Main Avenue Fallbrook 1,100,000$ 13,939 78.92$ 7/31/2017 35.2% Freestanding Retail1005 E. Mission Road Fallbrook 650,000$ 16,988 38.26$ 11/28/2016 17.7% Retail/Convenience140 W. Mission Road Fallbrook 172,000$ 3,703 46.45$ 10/26/2017 19.3% Freestanding Retail111 W. Mission Road Fallbrook 440,000$ 33,541 13.12$ 11/18/2015 11.0% Retail/Day Care134 W. Mission Road Fallbrook 180,000$ 3,485 51.65$ 1/27/2017 31.5% Retail/Convenience111 N. Vine Street Fallbrook 480,000$ 10,824 44.35$ 5/4/2017 21.7% Retail/Restaurant

Weighted Average $/SF>>> 36.64$

Property City Value Land SF $/SF Sale Date Building Coverage Notes312 S. Main Avenue Fallbrook 925,682$ 25,265 36.64$ N/A 4.0% Retail/Automotive

SOLD BUILDING COMPS

SUBJECT PROPERTY - SALES COMP VALUE - LAND WITH SIMILAR BUILDING COVERAGE


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SALE COMPARABLES

1 520-522 S Main Ave SOLDFallbrook, CA 92028 San Diego County

Carmin LLCRecorded Buyer: Recorded Seller: T Lorraine Johnston11243 Senda Luna LlenaSan Diego, CA 92130

True Buyer: Carmen Miranda Foltz

630 Morro RdFallbrook, CA 92028Mike CotterTrue Seller:

Sale Date:

– Research Status:

PrFrma Cap Rate:

Sale Price:

Actual Cap Rate:

$224.12$1,100,000 - Confirmed07/31/2017 (272 days on mkt) Bldg Type:

Zoning:Sale Conditions:

Year Built/Age:GLA:

-7.64%

Parcel No:Financing:

104-065-09, 104-065-10Down payment of $355,000 (32.3%); $745,000 from ZB, N.A.

Confirmed

RetailFreestanding-4,908 SF

6-

Land Area: 0.32 AC (13,939 SF)Price/SF:

3970503Comp ID:

2 1005 E Mission Rd SOLDFallbrook, CA 92028 San Diego County

Rk & Surjiwan Properties LlcRecorded Buyer: Recorded Seller: Present Phillip E Trust720 N La Reina StAnaheim, CA 92801

Sale Date:


PrFrma Cap Rate:

Sale Price:$211.24$650,00011/28/2016 Bldg Type:

Zoning:

Year Built/Age:GLA:

-


105-540-54$487,500 from Private Lender

RetailConvenience Store-3,077 SF

7Land Area: 0.39 AC (16,988 SF)

Price/SF:

3768780Comp ID:

3 111 W Mission Rd SOLDFallbrook, CA 92028 San Diego County

Pak Properties LlcRecorded Buyer: Recorded Seller: Warren 2003 Family Trust265 San Jacinto River RdLake Elsinore, CA 92530

Sale Date:


PrFrma Cap Rate:


Zoning:

Year Built/Age:GLA:

-


103-132-11$718,000 from First Citizens Bk&tr Co

Public Record

RetailDay Care CenterBuilt 1982 Age: 333,683 SF

C-36, S.D. CountyLand Area: 0.77 AC (33,541 SF)

Price/SF:

3446688Comp ID:

Copyrighted report licensed to Lee & Associates - 533042. 10/26/2017

Page 1


Pak Properties LlcRecorded Buyer: Recorded Seller: Plocki Family Trust265 San Jacinto River RdLake Elsinore, CA 92530

Sale Date:


PrFrma Cap Rate:


Zoning:

Year Built/Age:GLA:

-


103-132-12-

Public Record

RetailDay Care CenterBuilt 1982 Age: 333,683 SF

C-36, S.D. CountyLand Area: 0.77 AC (33,541 SF)

Price/SF:

3446700Comp ID:


Blanca I Rodriguez-garciaRecorded Buyer: Recorded Seller: First Class Ventures LLC1338 Los Conejos RdFallbrook, CA 92028

1712 Pioneer AveCheyenne, WY 82001

Sale Date:


PrFrma Cap Rate:

Sale Price:$164.08$180,000 - Confirmed01/27/2017 (157 days on mkt) Bldg Type:

Zoning:

Year Built/Age:GLA:

-


103-135-11-

Confirmed

RetailConvenience Store-1,097 SF

V2Land Area: 0.08 AC (3,485 SF)

Price/SF:

3819054Comp ID:

6 111 N Vine St SOLDFallbrook, CA 92028 San Diego County

-Recorded Buyer: Recorded Seller: Zozimo Sanchez111 N Vine StFallbrook, CA 92028

-Recorded Buyer: Recorded Seller: Zozimo Sanchez111 N Vine StFallbrook, CA 92028


Page 2

Sale Date:


PrFrma Cap Rate:

Price/SF:Sale Price:

$204.43$480,00005/04/2017 (229 days on mkt) Bldg Type:

Zoning:

Year Built/Age:RBA:

-


--

Public Record

RetailRestaurant-2,348 SF

6

Comp ID: 3899738


Page 3

Shane & Lili Munson

140

10/26/2017$172,000$240.90

Retail FreestandingBuilt 1982 Age: 33714 SF.09 AC (3,703 SF)FV2, S.D. County

-$120,000 from Chase Bank-

Heritage Square Investments


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VILLAGE OF FALLBROOK

Year of Incorporation: Unincorporated San Diego County

Population: 30,534 (Est. 2010 Census)

Land Area: 17.6 square miles

Location: Fallbrook is located 57 miles north of downtown San Diego northeast San Diego County. Fallbrook is bordered by Temecula to the north, unincorporated San Diego County to the east, Bonsall to the south and Camp Pendleton to the west. Fallbrook located on the northern edge of San Diego immediately adjacent to Temecula in southern Riverside County, within 40 minutes travel time of over 3.0 million people.

TRANSPORTATION FACILITIES AND SERVICES

Interstate & Highways: Interstate 15 generally crosses through the eastern edge of town from north to south. California State Highway 76 provides additional east-west access at the southern edge of Fallbrook, with San Diego County Highway S 13 bisecting town.

Public Transit: North County Transit District provides bus service via the Breeze #306 through Fallbrook and adjacent areas and connects to the Sprinter Rail Line system at the Vista Transit Center in Vista, California.

AREA OVERVIEW


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DEMOGRAPHIC SUMMARY

Demographic Source: Applied Geographic Solutions 04/2017, TIGER Geography page 1 of 1©2017, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 33.3800/-117.2510RS1

312 S Main Ave1 mi radius 3 mi radius 5 mi radius

Fallbrook, CA 92028P

OP

ULA

TIO

N

2017 Estimated Population 17,598 31,509 44,023

2022 Projected Population 18,730 33,448 46,681

2010 Census Population 16,212 29,384 41,196


Projected Annual Growth 2017 to 2022 1.3% 1.2% 1.2%

Historical Annual Growth 2000 to 2017 0.5% 0.7% 0.9%

2017 Median Age 30.8 36.8 39.1

HO

US

EH

OLD

S

2017 Estimated Households 5,248 10,133 14,348

2022 Projected Households 5,586 10,762 15,240

2010 Census Households 4,919 9,623 13,706




RA

CE

AN

DE

THN

ICIT

Y

2017 Estimated White 55.3% 64.2% 69.1%

2017 Estimated Black or African American 2.4% 2.0% 2.2%

2017 Estimated Asian or Pacific Islander 2.5% 2.9% 3.4%

2017 Estimated American Indian or Native Alaskan 0.9% 0.8% 0.7%

2017 Estimated Other Races 39.0% 30.2% 24.6%

2017 Estimated Hispanic 61.5% 48.1% 39.7%

INC

OM

E 2017 Estimated Average Household Income $61,368 $75,650 $83,573

2017 Estimated Median Household Income $51,541 $64,018 $68,699

2017 Estimated Per Capita Income $18,320 $24,371 $27,872

ED

UC

ATI

ON

( AG

E 2

5+)

2017 Estimated Elementary (Grade Level 0 to 8) 18.9% 13.4% 10.2%

2017 Estimated Some High School (Grade Level 9 to 11) 8.4% 6.5% 5.7%

2017 Estimated High School Graduate 26.1% 23.5% 21.5%

2017 Estimated Some College 22.5% 24.9% 25.9%

2017 Estimated Associates Degree Only 7.5% 8.3% 9.1%

2017 Estimated Bachelors Degree Only 12.1% 16.0% 18.6%

2017 Estimated Graduate Degree 4.4% 7.4% 9.0%

BU

SIN

ES

S 2017 Estimated Total Businesses 823 1,140 1,319

2017 Estimated Total Employees 5,112 7,841 8,854

2017 Estimated Employee Population per Business 6.2 6.9 6.7

2017 Estimated Residential Population per Business 21.4 27.6 33.4


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DEMOGRAPHIC SUMMARY

Demographic Source: Applied Geographic Solutions 04/2017, TIGER Geography page 1 of 1©2017, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 33.3800/-117.2510RS1

312 S Main Ave1 mi radius 3 mi radius 5 mi radius

Fallbrook, CA 92028

PO

PU

LATI

ON

2017 Estimated Population 17,598 31,509 44,023

2022 Projected Population 18,730 33,448 46,681





2017 Median Age 30.8 36.8 39.1

HO

US

EH

OLD

S

2017 Estimated Households 5,248 10,133 14,348

2022 Projected Households 5,586 10,762 15,240





RA

CE

AN

DE

THN

ICIT

Y

2017 Estimated White 55.3% 64.2% 69.1%

2017 Estimated Black or African American 2.4% 2.0% 2.2%

2017 Estimated Asian or Pacific Islander 2.5% 2.9% 3.4%

2017 Estimated American Indian or Native Alaskan 0.9% 0.8% 0.7%

2017 Estimated Other Races 39.0% 30.2% 24.6%

2017 Estimated Hispanic 61.5% 48.1% 39.7%

INC

OM

E 2017 Estimated Average Household Income $61,368 $75,650 $83,573

2017 Estimated Median Household Income $51,541 $64,018 $68,699

2017 Estimated Per Capita Income $18,320 $24,371 $27,872

ED

UC

ATI

ON

(AG

E 2

5+)

2017 Estimated Elementary (Grade Level 0 to 8) 18.9% 13.4% 10.2%

2017 Estimated Some High School (Grade Level 9 to 11) 8.4% 6.5% 5.7%

2017 Estimated High School Graduate 26.1% 23.5% 21.5%

2017 Estimated Some College 22.5% 24.9% 25.9%

2017 Estimated Associates Degree Only 7.5% 8.3% 9.1%

2017 Estimated Bachelors Degree Only 12.1% 16.0% 18.6%

2017 Estimated Graduate Degree 4.4% 7.4% 9.0%

BU

SIN

ES

S 2017 Estimated Total Businesses 823 1,140 1,319

2017 Estimated Total Employees 5,112 7,841 8,854

2017 Estimated Employee Population per Business 6.2 6.9 6.7

2017 Estimated Residential Population per Business 21.4 27.6 33.4

Lee & Associates Commercial Real Estate Services - NSDC | 1900 Wright Place Suite 200 - Carlsbad, CA 92008 | P: (760) 929-9700 F: (760) 929-9977No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice. Any of the foregoing information will need to be separately verified by Buyer.

Exclusively Listed By:

LEE & ASSOCIATESCommercial Real Estate Services

Patrick Miller, CCIM760.448.2445


Al Apuzzo, Principal760.448.2442


small commercial building with lot...140 w. mission road fallbrook 172,000$ 3,703 $ 46.45 10/26/2017...

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