1380 El Cajon Boulevard El Cajon CA 92020 - The …theheritagegroup.com/wp-content/uploads/2017/11/1380ElCajonblvd... · 1380 El Cajon Boulevard El Cajon CA 92020 CONFIDENTIALITY

619.577.4558 | [email protected]

619.577.4557 | [email protected]

1380 El Cajon Boulevard ● El Cajon ● CA 92020

BRE # 01971891


CONFIDENTIALITY AGREEMENT

The material contained in this Offering Memorandum is confidential and for the purpose of considering the purchase of the Real Estate described

herein. It is subject to the terms and provisions of the Confidentiality Agreement signed by the recipient of this material, and is not to be used for

any purpose or made available to any other person without the express written consent of The Heritage Group, Inc. (“Broker”).

This Offering Memorandum was prepared in July 2017, by Broker solely for the use of prospective purchasers of 1380 El Cajon Blvd, El Cajon, CA

92020 (the “Real Estate”). Neither Broker, Owner nor any of their respective officers, employees or agents, make any representation or warranty,

express or implied, as to the completeness or the accuracy of the material contained in the Offering Memorandum or any of its contents, and no

legal commitments or obligations shall arise by reason of this package or any of its contents.

Prospective purchasers of the Real Estate are advised (i) that changes may have occurred in the condition of the Real Estate since the time of this

Offering Memorandum or the financial statements therein were prepared and that (ii) all financial projections are provided for general reference

purposes only in that they are based on assumptions relating to the general economy, competition, and other factors beyond the control of Broker

and the Owner and, therefore, are subject to material variation.

Prospective purchasers of the Real Estate are advised and encouraged to conduct their own comprehensive review and analysis of the Real Estate.

The Offering Memorandum is a solicitation of interest only and is not an offer to sell the Real Estate. The Owner and Broker expressly reserve the

right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Real Estate, and expressly reserve the right, at their

sole discretion, to terminate discussions with any entity at any time with or without notice.

This Offering Memorandum is confidential. By accepting the Offering Memorandum, you agree (i) that you hold and treat the Offering

Memorandum and its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Offering Memorandum, (iii)

that you will not disclose the Offering Memorandum or any of its contents to any other entity without the prior written authorization of Broker, and

(iv) that you will not use the Offering Memorandum in any fashion or manner detrimental to the interest of the Owner or Broker.

The i for aio set fourth herei has ee re ei ed y us fro sour es e elie e to e relia le, ut e ha e ade o i depe de t i esigaio of the a ura y or o plete ess

of the i for aio a d ake o represe taio ith respe t thereto. The a o e is su ited to errors, prior sale or lease, ha ge i status or ithdra al ithout oi e.


PURCHASE PRICE: $5,100,000

Property Offering: Class A, Multi-tenant Medical / Office Building

Address: 1380 El Cajon Boulevard, El Cajon, CA 92020

Total Square Feet: 16,108

Occupancy: 86%

Land Area: 1.14 AC

Assessor's Parcel Number: 487-770-07

Year Built: 2006

Zoning: C1 - Commercial

Parking: 79 Parking Stalls (5 spaces / 1,000 SF)

Year 1 NOI: $307,522.73

Capitalization Rate: 6.03%

EXCLUSIVELY LISTED BY:

619.577.4558 | [email protected] BRE # 00867784


610 W. Ash Street, Ste. 1503 San Diego, CA 92101 BRE # 01971891


PROPERTY OVERVIEW

The Heritage Group, as agent for the Seller, is pleased to offer for sale 1380 El

Cajon Boulevard, (the "Property"), a commercial property located in the City of

El Cajon, California, in East San Diego County.

1380 El Cajon Boulevard is a two-story, Class-A, multi-tenant office building

suitable for high-end office and medical tenancies. The Property was

developed in 2006 sparing neither expense nor attention to detail in faithful

adherence to the American Craftsman style. Superior-quality materials were

utilized throughout. Interior millwork and wainscoting were artisan crafted.

Windows, doors and common area fixtures were sourced from the Black

Forest region of Germany. The Property’s design is reflective of iconic San Diego craftsman structures, from The Lodge at Torrey Pines to historic

residences such as The Marston House. This office building is truly

“one-of-a-kind” and could not be replicated in today’s stifling regulatory environment. With a 5/1000 ratio, surface parking is plentiful. A lower-level,

elevator-served garage provides reserved/secured parking.

Site location is superb, with views south to Mt. Helix and east to the

Cuyamacas. The Property is strategically proximate to major arterials, with

direct access to the 8 and 125 freeways and easy connections to the 94, 52

and 67 freeways to all points south, west and north.


INVESTMENT HIGHLIGHTS

One-of-a-Kind Acquisition Opportunity

Unmatched Craftsman Design with Superior Finishes

Ground Floor Leased to Sharp Healthcare

Strategic Location on Grossmont Summit

Highly Visible Location with Direct Access to Interstate 8

Covered Parking with 5/1,000 SF Ratio


DEMOGRAPHIC SUMMARY

158,356

2017 Estimated Population

(3-Mile Radius)

$93,031

Average Household Income

(1-Mile Radius)

8,222

Number of Businesses

(3-Mile Radius)

25,500

Average Daily Traffic

Costar 7 Data


FIRST FLOOR SITE PLAN Approx. 7,927 SF - 100% Leased to

Vaulted Entrance

Floor pla is ot to s ale; for refere e purposes o l


SECOND FLOOR SITE PLAN Approx. 2,282 SF AVAILABLE

SUITE 212 J2X Legacy Advisors

SUITE 216 CalFiduciary Services

SUITE 208 Cabrera & Associates

Vaulted Entrance

SUITE 201 NTC Construction

SUITE 220 AVAILABLE

Floor pla is ot to s ale; for refere e purposes o l




RENT ROLL

TENANT UNIT LEASE TYPE APPROX. SF MONTHLY RENT ANNUAL RENT PSFY

100 + Electricity 7,927 $20,610 $247,322* $31.20

NTC Construction 201 + Electricity 747 $1,681 $20,169 $27.00

Cabrera & Associates 208 + Electricity 1,505 $2,634 $31,605 $21.00

J2X Legacy Advisors 212 + Electricity 1,796 $3,861 $46,337 $25.80

CalFiduciary Services 216 + Electricity 1,851 $3,640 $43,680* $23.64

Available 220 + Electricity 2,282 $5,135 $61,614 $27.00

TOTAL: 16,108 $89,791 $450,727 $28.00

*Su je t to ase ear operai g e pe se i reases/rei urse e ts


LEASE DETAILS

TENANT UNIT LEASE

COMMENCEMENT

CUURENT

RENT/MONTH

LEASE

EXPIRATION

RENT

INCREASES NOTES

100 December 2006 $20,169 11/30/2020 2.25%

annually

One (1) five-year option,

with 3% annual increases

NTC Construction 201 December 2016 $1,681 8/30/2019 Negotiable -

Cabrera & Associates 208 January 2013 $2,634 12/31/2018 14.25%

(January 1, 2018) -

J2X Legacy Advisors 212 May 2013 $3,861 4/30/2018 - -

CalFiduciary Services 216 February 2016 $3,640 2/28/2022 3.5%

annually

One (1) five-year option,

with 3.5% annual increases

Available 220 - - - - -

1380 El Cajon Boulevard ● El Cajon ● CA 92020 CASH FLOW ANALYSIS

UNIT # TENANT SQ. FOOTAGE LEASE EXP. RENT/SF RENTAL RATE ANNUAL PSFY

100 Sharp Rees Stealy 7,927 11/30/2020 $2.60 $20,610.20 $247,322.40 $31.20

201 NTC Construction 747 8/31/2019 $2.25 $1,680.75 $20,169.00 $27.00

208 Cabrera & Associates 1,505 12/31/2018 $1.75 $2,633.75 $31,605.00 $21.00

212 J2X Legacy Advisors 1,796 4/30/2018 $2.15 $3,861.40 $46,336.80 $25.80

216 CalFiduciary Services 1,851 2/28/2022 $1.97 $3,639.99 $43,679.88 $23.64

220 VACANT 2,282 $2.25 $5,134.50 $61,614.00 $27.00

$450,727.08

- $22,536.35 Less 5% Vacancy Factor

$428,190.73

PROPERTY EXPENSE AMOUNT

Taxes - Property $53,550.00

Insurance - F&L $4,629.00

Utilities - Electric $10,800.00

Utilities - Water $2,800.00

Services - Trash $1,900.00

Services - Gardener $4,300.00

Management Services $16,784.00

Fire Sprinkler $305.00

Elevator $1,900.00

Janitor $20,900.00

Window Cleaning $1,800.00

HVAC $1,000.00

$120,668.00

$307,522.73

6.03%

INC

OM

E

EX

PE

NS

ES


El Cajon, California

~ Fifth largest city in San Diego County

The City of El Cajon is located 15 miles due

east of San Diego, situated in a valley

surrounded by mountains. El Cajon was

incorporated as a city in 1912, and in 2012

voters opted to change its status to be a

chartered city. It covers approximately 14

square miles with a population of around

100,000.

The city is home to Parkway Plaza, an

indoor shopping center totaling over 1.3

million square feet, with over 170 stores

including Macy's, Best Buy, Sears and JC

Penney. El Cajon is home to several

award-winning schools and 3 of the top 10

employers in the city are school districts.

San Diego Metropolitan Area

San Diego is a major city in Southern

California, located approximately 120 miles

south of Los Angeles and adjacent to the

border with Mexico. It is the second largest

city in California and the eighth largest in

the United States. It is known for its mild

year-round climate, natural deep-water

harbor, extensive beaches and exceptionally

high quality of life.

The city has a long association with the U.S.

Navy and its economy is expected to

benefit from a strategic military shift as the

key defense hub for the Pacific Rim. This is

influenced by its deep-water port, with the

only major submarine and shipbuilding

yards on the West Coast. A renaissance in

technology development over the past 40

years has transformed the region with a

vibrant innovation economy. San Diego is a

recognized leader in biotech, telecom.,

micro processing and healthcare sectors

with long term growth forecasts. Tourism

remains a major economic driver for the

region and is poised for continued growth.

San Diego Office

~ East County Submarket

The East County Market for office boasts

one of the largest inventories in the county,

however, most of the stock is older, Class C

buildings. Most large office tenants in the

area are government employers, as the tech

companies tend toward the coastal cities.

Current submarket trends reflect low

vacancy rates (currently at 3.4%). East

County has few office developments under-

way, and a current Net Absorption of 32,000

SF in the last year.



BRE # 01971891 The i for aio set fourth herei has ee re ei ed y us fro sour es e elie e to e relia le, ut e ha e ade o i depe de t i esigaio of the a ura y or o plete ess

of the i for aio a d ake o represe taio ith respe t thereto. The a o e is su ited to errors, prior sale or lease, ha ge i status or ithdra al ithout oi e.

Documents

1380 El Cajon Boulevard El Cajon CA 92020 - The …theheritagegroup.com/wp-content/uploads/2017/11/1380ElCajonblvd... · 1380 El Cajon Boulevard El Cajon CA 92020 CONFIDENTIALITY