FOR SALE | 100% LEASED MULTI-TENANT RETAIL PAD WITH …

FOR SALE | 100% LEASED MULTI-TENANT RETAIL PAD WITH DRIVE-THRU | CLOVIS (FRESNO), CA

Property Features: • 100% Leased Multi-Tenant Retail Pad Building with Drive-Thru• Corporate and Regional Quick-Service Restaurant Tenants• Situated within an expanding ±180 Acre Medical Research and Technology Park • Pride of Ownership, Well Maintained, High-Quality Construction• Triple-Net (NNN) Leases with Built-In Rental Increases

Price: $3,400,000CAP Rate: 5.70%

Bryan CifranicDRE License #01809130

Shane AndersonDRE License #01422414

Direct Line: 559/ 650.1316 [email protected]

Direct Line: 559/ [email protected]

FOR MORE INFORMATION CONTACT:






EXECUTIVE SUMMARYCommercial Retail Associates, Inc. is pleased to have been selected as the exclusive listing agent for the sale of this

well-maintained three-tenant retail pad building located near the signalized corner of Temperance Avenue and

Alluvial Avenue / Owens Mountain Parkway in Clovis, California. The approximate 6,500 square foot retail building is

situated on nearly one acre of land and is 100% leased to three quick-service food tenants with recognized brands.

The subject property is well positioned within the Sunrise Pavilion shopping center and part of a growing medical,

research, and technology hub in the highly desirable northeastern area of Clovis. The subject property tenants

cater not only to the nearby population and business in the area, but also to the many commuters, travelers and

tourists that travel along State Highway 168 which connects to Downtown Fresno and State Highways 99 and 180

on the western route and to mountain and foothill communities and outdoor recreation along the eastern route.

This offering presents an investor with an opportunity to acquire a pride of ownership, multi-tenant retail building

equipped with a drive-thru that is 100% leased to quality quick-service food tenants.

INVESTMENT SUMMARY

Address: Price:

CAP Rate:

Annual NOI:

Occupancy:

Year Built:

Building Size:

Land Area:

STRONG REAL ESTATE FUNDAMENTALS• The Property is 100% leased to nationally and regionally branded tenants

including Starbucks, Me-N-Ed’s Pizza, and Raw Earth Juicery• All leases have built-in rental increases, a hedge against inflation• High quality construction that has been well managed and maintained

since the property’s original development• Surrounded by core infrastructure including State Highway 168, Clovis

Community Hospital and the Portal Sierra Technology and Business Park

LOCATION HIGHLIGHTS• Immediately positioned at the on/off Ramp to State Highway 168 with

±30,500 average daily traffic• Located in a continually growing area of the highly desirable northeast

area of Clovis, with average household increases within 3 miles exceeding $107,000. The subject property benefits from limited retail competition and serves the neighboring household community as well as the employees, students, and customers of the many surrounding medical, office and industrial business

• At the intersection of Temperance and Alluvial / Owens Mountain Parkway generating average traffic of over 19,000 cars per day

• Clovis Community Medical Center which is located at the SEQ of Temperance and Highway 168 completed a $320 million expansion in 2014 and is set to complete its latest $390 million expansion in 2022, which upon completion will bring the hospital to 352 inpatient beds, over 2,000 employees, and a total investment in the facility of over $1 billion

• Other neighboring business in the immediate area include: California Health Sciences University Campus, the Clovis Fire Department, Kid’s Kare Schools, Office & Cargo Bay, McDonald’s, Chevron, Fresenius and Riley’s Restaurant

Investment Summary Page 2

765 N. Temperance AvenueClovis, California

$3,400,000

5.70%

$193,633

100% Leased

2006

±6,500 Square Feet

±0.92 Acres






Trade Area Aerial Page 3






Photos - Subject Property Page 4






Rent Roll / Income and Expenses Page 5

ANNUAL OPERATING EXPENSES: (2020 est.)

Common Area Maintenance/Utilities $ 47,294 Property Taxes $ 23,185 Insurance $ 4,025 Management/Admin Fee $ 7,657 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

Total Operating Expenses: $ 82,161

RENT ROLL NOTES:

¹ Tenant's pay their prorata share of the common area maintenance charges, utility costs, property taxes, insurance premiums, and administration fees per the terms and conditions of their respective leases. Starbucks pays an administration fee equal to 10% of their controllable common area maintenance expenses. Me-N-Ed’s and Raw Earth Juicery pay a management/administration fee equal to 4% of rent. Starbucks has a CAM cap of 5% over the previous lease year’s CAM expenses.

² Starbucks has the right to terminate their lease after the conclusion of the 60th month of the lease term and must provide Landlord at least 180 days advance notice and if exercised is required to pay Landlord a termination fee of $25,000.

³ Reflects Me-N-Ed's rent increase effective January 1, 2021.

TENANT SQ. FT. MONTHLY BASE RENT ANNUAL BASE RENT PRIMARY LEASE TERM LEASE EXPIRATION RENT ADJUSTMENTS OPTIONS / OPTION RENT CAM, TAX, INSURANCE

STARBUCKS ±1,755 $ 5,557.50 $ 66,690 10-Years February 28, 2027 ² To $5,996.25 on March 1, 2022

3, 5-YEAR with $3.00/sf/yr Rent Increases at Each Option

PRORATA SHARE ¹

RAW EARTH JUICERY

±1,170 $ 2,340.00 $ 28,080 5-Years June 30, 2025 $0.05/sf Annual Rent Increases

1, 5-YEAR with $0.05/sf /mo Annual Rent Increases

PRORATA SHARE ¹

ME-N-ED's PIZZERIA

±3,575 $ 8,246.00 ³ $ 98,952 ³ 5-Years December 31, 2024 1.25% Annual Rent Increases

3, 5-YEAR Rent Increases to FMV, but no less than prior lease year

PRORATA SHARE ¹

TOTAL ±6,500 $16,143.50 $193,722

SCHEDULED ANNUAL INCOME AND EXPENSES:

Scheduled Base Rent $ 193,722 Expense Reimbursements $ 82,072 Gross Income $ 275,794 Less Operating Expenses - $ 82,161_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

NET OPERATING INCOME: $ 193,633






Tenant Profiles Page 6

STARBUCKSStarbucks Corporation was founded in Seattle, Washington in 1971, and has grown into the leading coffee retailer in the world with over 31,000 locations and $26 billion in revenue. Starbucks is one of the most recognized brands in the world and has consistently been ranked on Fortune Magazine’s list of the most admired companies. Starbucks is aggressively expanding its drive-thru format which generate 30% - 60% more revenue compared to legacy cafe locations. Starbucks together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items. The company also licenses its trademarks through licensed stores, and grocery and foodservice accounts. It offers its products under the Starbucks, Teavana, Seattle’s Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve, and Princi brand names.

This is a Corporate Signature Lease with Starbucks Corporation, a Washington Corporation NASDAQ: SBUX For more information visit: www.starbucks.com

Me-N-Ed’sMe-n-Ed’s was established in 1958 as a family-run chain of pizzeria franchises located primarily in Central California. A wholly-owned subsidiary of Milano Restaurants International Corp., their company has grown to over 60 locations, reporting system-wide net sales of over $60 million with an employment base of over 1,500 team members. Milano develops, franchises, and operates Me-n-Ed’s Pizzerias, Me-n-Ed’s Slices, Me-n-Ed’s Coney Island Grill, Revolución Tequila Bar and Cocina, Angelo & Vito’s Pizzerias, Blast & Brew, and Piazza del Pane restaurants. Me-n-Ed’s has been making pizzas following hand-crafted recipes and time-honored procedures, it’s no wonder Me-n-Ed’s is consistently ranked as the Best Pizza in the Fresno-Clovis area. Pizzas are prepared in strict compliance with patent protected recipes and long-established procedures, which achieve consistent product quality. Me-N-Ed’s locations have recently added self-pour taps, where customers can customize their drinking experience down to the ounce. Customers can choose from over thirty craft beers and wines and enjoy what they want when they want it, which means a completely customer-centric, no-wait experience. Me-n-Ed’s emphasizes a “Neighborhood Pizza Parlor” approach in its restaurant operations. Me-n-Ed’s establishes itself in customer’s “backyards” offering easy convenience to a quality pizza. Managers of each pizza parlor establish close relationships with the neighborhood schools, churches and clubs, offering support through special discount pricing and sponsorship. Me-n-Ed’s is also an active sponsor of youth sports such as soccer and baseball in addition to serving charitable needs throughout the valley, especially focusing its support on education and service organizations.

This is a Corporate Signature Lease with ME-N-EDS PIZZERIAS, INC., a Nevada Corporation. For more information visit: www.meneds.com

Raw Earth JuiceryRaw Earth Juicery is a family owned specialty organic cold-pressed juice, smoothie, and smoothie bowl shop. Raw Earth uses only 100% non-GMO ingredients and at least 90% of all ingredients are organic. The company provides authentic, creative, fun, super healthy fresh food and drink offerings to the Fresno-Clovis community. Raw Earth fans give stellar reviews on Yelp, Facebook and Instagram for popular menu items including the Almond Butter Bowl, Hard Core Greens Juice, and Mango Pineapple Protein Smoothie. The store locations also offer online ordering and delivery via Uber Eats.

This lease is signed and personally guaranteed by Stephen Rosales. The Clovis location is his 3rd location and he has been operating Raw Earth Juicery in Fresno for over 4 years. For more information visit: www.rawearthjuicery.com






Site Plan Page 7






Location Page 8

Clovis is located in the central San Joaquin Valley 175 miles south of the San Francisco/Bay Area,

215 miles north of Los Angeles, and 110 miles east of the central coast. Fresno County has a diverse

population of approximately 1 million people. Covering an area of more than 6,000 square miles,

Fresno County is the state’s sixth largest county. Fresno County’s economy is based in agriculture

and produces more crops in terms of gross value than any other area in the United States. Fresno

County is home to a wide variety of manufacturing operations, many with ties to agriculture

in the food processing, meat and dairy industries. Due to its central location within the state

of California, Fresno County has become a thriving distribution and logistics hub. Distributors

can reach nearly all parts of California, a market of over 30 million people, overnight by truck.

Five major highways and freeways pass through Fresno County, including Hwy 99, 41, 180, 168

and Interstate 5, as well as rail service from Burlington Northern Santa Fe and Union Pacific.

Fresno County is known as the gateway to the Sierras, and offers a wide variety of outdoor

recreational opportunities including Yosemite and Sequoia National Parks, numerous lakes

and rivers, snow skiing, water sports and easy access to the central coast popular for surfing,

fishing, whale watching and wine. Residents of Fresno County also enjoy a very low cost of

living relative to California (Median home price $228,700), boast an uncongested freeway

system, have access to great shopping and entertainment, top ranked schools, opportunities

for higher education including California State University Fresno and the mild California climate.

FRESNO - CLOVIS, CALIFORNIA

Clovis Community Medical Center - Expansion Completion 2022






Page 9Demographics

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FULL PROFILE2000-2010 Census, 2020 Estimates with 2025 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 36.8448/-119.6645RF1

765 N Temperance Ave1 mi radius 3 mi radius 5 mi radius 10 mi radius

Clovis, CA 93611

POPU

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ON

2020 Estimated Population 6,464 69,687 177,002 539,4902025 Projected Population 6,690 71,926 182,612 559,1972010 Census Population 5,955 56,782 148,172 490,8482000 Census Population 3,962 38,812 110,074 427,674Projected Annual Growth 2020 to 2025 0.7% 0.6% 0.6% 0.7%Historical Annual Growth 2000 to 2020 3.2% 4.0% 3.0% 1.3%

HO

USE

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LDS

2020 Estimated Households 2,192 24,056 63,103 186,4972025 Projected Households 2,264 24,759 64,928 192,7672010 Census Households 1,969 19,054 51,601 164,4092000 Census Households 1,262 12,936 39,002 145,529Projected Annual Growth 2020 to 2025 0.7% 0.6% 0.6% 0.7%Historical Annual Growth 2000 to 2020 3.7% 4.3% 3.1% 1.4%

AG

E

2020 Est. Population Under 10 Years 15.4% 14.5% 14.3% 14.9%2020 Est. Population 10 to 19 Years 15.2% 14.7% 14.1% 14.6%2020 Est. Population 20 to 29 Years 11.3% 11.1% 13.1% 15.1%2020 Est. Population 30 to 44 Years 22.8% 21.8% 21.3% 19.9%2020 Est. Population 45 to 59 Years 18.8% 18.3% 17.5% 16.5%2020 Est. Population 60 to 74 Years 12.5% 14.1% 13.9% 13.2%2020 Est. Population 75 Years or Over 4.0% 5.4% 5.7% 5.8%2020 Est. Median Age 34.7 36.2 35.5 33.9

INC

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2020 Est. HH Income $200,000 or More 11.0% 10.7% 8.2% 6.1%2020 Est. HH Income $150,000 to $199,999 12.8% 11.2% 9.2% 6.3%2020 Est. HH Income $100,000 to $149,999 21.7% 22.1% 19.2% 14.7%2020 Est. HH Income $75,000 to $99,999 15.2% 13.8% 13.8% 11.8%2020 Est. HH Income $50,000 to $74,999 18.2% 15.7% 17.4% 17.7%2020 Est. HH Income $35,000 to $49,999 7.5% 9.9% 10.7% 12.0%2020 Est. HH Income $25,000 to $34,999 4.2% 5.8% 6.7% 8.4%2020 Est. HH Income $15,000 to $24,999 4.7% 5.7% 6.9% 10.8%2020 Est. HH Income Under $15,000 4.7% 5.0% 7.9% 12.1%2020 Est. Average Household Income $121,038 $107,458 $95,700 $82,4712020 Est. Median Household Income $92,553 $91,421 $81,987 $65,7162020 Est. Per Capita Income $41,062 $37,119 $34,171 $28,586

2020 Est. Total Businesses 515 2,782 5,913 24,5672020 Est. Total Employees 3,034 20,114 45,114 222,104

©2020, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 3 Demographic Source: Applied Geographic Solutions 4/2020, TIGER Geography

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70.8% 68.6% 65.6% 54.1%3.2% 2.8% 3.6% 5.9%

12.7% 13.2% 14.0% 14.1%1.2% 1.3% 1.3% 1.5%

12.1% 14.1% 15.5% 24.4%

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Business

2020 Est. White2020 Est. Black2020 Est. Asian or Pacific Islander2020 Est. American Indian or Alaska Native2020 Est. Other Races

Clovis, California






Page 10

DISCLAIMERCommercial Retail Associates, Inc. hereby advises all prospective buyers of property as follows:

The information contained in this Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Commercial

Retail Associates, Inc. and should not be made available to any other person or entity without the written consent of Commercial Retail Associates, Inc. This Marketing Brochure

has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The

information contained herein is not a substitute for a thorough due diligence investigation. Commercial Retail Associates, Inc. and its agents have not made any investigations,

and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the

size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal

regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue

its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Commercial

Retail Associates, Inc. and its agents have not verified, and will not verify, any of the information contained herein, nor has Commercial Retail Associates, Inc. and its agents

conducted any investigations regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information

provided. All potential Buyers must take appropriate measures to verify all of the information set forth herein.

All property showing are by appointment only. Please contact a Commercial Retail Associates agent for more details.

By accepting this Marketing Brochure you agree to release Commercial Retail Associates, Inc. and its agents and

hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.

Documents

FOR SALE | 100% LEASED MULTI-TENANT RETAIL PAD WITH …