FOR SALE / LEASE - LoopNet...FOR SALE / LEASE Diamond Family Spa 1140 Coiner Court CITY OF INDUSTRY, CA 91748 PRICE: $6,000,000 PETER PAIK, CCIM, CPM Managing Principal 213-923-0227

FOR SALE / LEASE

Diamond Family Spa1140 Coiner Court

CITY OF INDUSTRY, CA 91748

PRICE: $6,000,000

PETER PAIK, CCIM, CPM Managing [email protected]# 01080324, California

RACHAEL YUN Investment [email protected]# 02037889, California

PETER PAIK, CCIM, CPM Managing [email protected]# 01080324, California

RACHAEL YUN Investment [email protected] # 02037889, California

TABLE OF CONTENTS

Property Description 3Property Summary 4Financial Indicators 5

Annual Property Operating Data 6SENSITIVITY ANALYSIS 7

Maps and Aerials 8Property Photos 9

SALES COMPARABLES 11LEASE COMPARABLES 16

Demographics Summary 19Population Trend 20

Professional Bio 21

PROPERTY DESCRIPTIONDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748

PETER PAIK, CCIM, [email protected]

This project is currently occupied by Diamond Family Spa, a premium Korean spa and sauna. A totalimprovement of approximately $3 million was invested to build out a heated floor, men and womenlocker room, men and women shower and jacuzzi, sleeping rooms, private massage rooms, several heatedtheme rooms and onsite restaurant.

03

PROPERTY SUMMARYDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


Property SummaryAvailable SF: 0Building Size: 21,560Lease Rate: $1.80Lot Size: 1.42 AcresPrice: $6,000,000

Rentable SF:Type:

21,560 Commercial

Property OverviewThe subject property is located in a 666,128sqft industrial parkconsisting of 13 buildings ranging from office, retail andindustrial. The project was built in 1990.

Location OverviewThe building is located in the City of Industry along the 60FWY and adjacent to Diamond Bar along Nogales. Thebuilding is part of the Concourse Industrial Park with a gooddaytime population and walk score.

04

FINANCIAL INDICATORSDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748

The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose ofillustrative projections and analysis. The information provided is not intended to replace or serve as substitute for any legal,accounting, investment, real estate, tax or other professional advice, consultation or service. The user of this software shouldconsult with a professional in the respective legal, accounting, tax or other professional area before making any decisions.

Description Year 1 Year 2 Year 3 Year 4 Year 5Gross Rent Multiplier 9.17 8.94 8.72 8.49 8.28Capitalization Rate 6.47% 6.66% 6.87% 7.07% 7.29%Cash On Cash Return b/t 5.66% 6.53% 7.43% 8.36% 9.32%Cash On Cash Return a/t 5.66% 6.53% 7.43% 8.36% 9.32%Debt Coverage Ratio 1.24 1.28 1.32 1.36 1.40Gross Income per Sq. Ft. $30.05 $30.83 $31.63 $32.45 $33.30Expenses per Sq. Ft. ($12.22) ($12.46) ($12.70) ($12.95) ($13.21)Net Income Multiplier 15.46 15.01 14.56 14.14 13.72Operating Expense Ratio 40.67% 40.42% 40.16% 39.91% 39.66%Loan To Value Ratio 78.16% 76.25% 74.25% 72.16% 69.99%

Description Year 6 Year 7 Year 8 Year 9 Year 10Gross Rent Multiplier 8.07 7.86 7.66 7.47 7.28Capitalization Rate 7.51% 7.74% 7.97% 8.21% 8.46%Cash On Cash Return b/t 10.30% 11.32% 12.36% 13.44% 14.54%Cash On Cash Return a/t 10.30% 11.32% 12.36% 13.44% 14.54%Debt Coverage Ratio 1.44 1.49 1.53 1.58 1.63Gross Income per Sq. Ft. $34.16 $35.05 $35.97 $36.91 $37.87Expenses per Sq. Ft. ($13.46) ($13.73) ($14.00) ($14.27) ($14.55)Net Income Multiplier 13.32 12.93 12.55 12.18 11.82Operating Expense Ratio 39.41% 39.16% 38.92% 38.67% 38.43%Loan To Value Ratio 67.72% 65.35% 62.88% 60.30% 57.61%

* b/t = before taxes; a/t = after taxes

05

ANNUAL PROPERTY OPERATING DATADiamond Family Spa1140 Coiner Court | City of Industry, CA 91748

The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose ofillustrative projections and analysis. The information provided is not intended to replace or serve as substitute for any legal,accounting, investment, real estate, tax or other professional advice, consultation or service. The user of this software shouldconsult with a professional in the respective legal, accounting, tax or other professional area before making any decisions.

Description Year 1 Year 2 Year 3 Year 4 Year 5Income Rental Income $388,080 $399,722 $411,714 $424,065 $436,787 Reimbursements (CAM) $265,992 $271,312 $276,738 $282,273 $287,918

GROSS SCHEDULED INCOME $654,072 $671,034 $688,452 $706,338 $724,706

GROSS OPERATING INCOME $654,072 $671,034 $688,452 $706,338 $724,706

Expenses HOA ($18,000) ($18,360) ($18,727) ($19,102) ($19,484) Building Insurance ($20,000) ($20,400) ($20,808) ($21,224) ($21,649) Taxes - Real Estate ($72,000) ($73,440) ($74,909) ($76,407) ($77,935) Trash Removal ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) Utilities ($150,000) ($153,000) ($156,060) ($159,181) ($162,365)

TOTAL OPERATING EXPENSES ($266,000) ($271,200) ($276,504) ($281,914) ($287,432)

NET OPERATING INCOME $388,072 $399,834 $411,948 $424,424 $437,273

Description Year 6 Year 7 Year 8 Year 9 Year 10Income Rental Income $449,891 $463,388 $477,289 $491,608 $506,356 Reimbursements (CAM) $293,677 $299,550 $305,541 $311,652 $317,885

GROSS SCHEDULED INCOME $743,568 $762,938 $782,831 $803,260 $824,241

GROSS OPERATING INCOME $743,568 $762,938 $782,831 $803,260 $824,241

Expenses HOA ($19,873) ($20,271) ($20,676) ($21,090) ($21,512) Building Insurance ($22,082) ($22,523) ($22,974) ($23,433) ($23,902) Taxes - Real Estate ($79,494) ($81,084) ($82,705) ($84,359) ($86,047) Trash Removal ($6,000) ($6,000) ($6,000) ($6,000) ($6,000) Utilities ($165,612) ($168,924) ($172,303) ($175,749) ($179,264)

TOTAL OPERATING EXPENSES ($293,061) ($298,802) ($304,658) ($310,631) ($316,724)

NET OPERATING INCOME $450,507 $464,136 $478,172 $492,629 $507,517

06

SENSITIVITY ANALYSISDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


SENSITIVITY ANALYSIS RENT RATE MONTHLY RENT ANNUAL RENT CAP RATE

$1.40/SQFT $30,471 $365,652 6.1%

$1.50/SQFT $32,647 $391,764 6.5%

$1.60/SQFT $34,824 $417,888 7.00%

$1.70/SQFT $37,170 $446,040 7.4%

$1.80/SQFT $39,177 $470,124 7.8%

CAP Rate is rounded to the highest number Total rentable square foot used is 21,560 sqft Assuming purchase price of $6,000,000

BASED ON TRIPLE NET LEASE (NNN)

07

MAPS AND AERIALSDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


08

PROPERTY PHOTOSDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748

09

PROPERTY PHOTOSDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748

10

SALES COMPARABLESDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


1140 Coiner Ct - The Concourse

City Of Industry, CA 91748

21,560 SF Office Building Built in 1990

Property is for sale at $6,500,000 ($301.48/SF)

FOR SALE

1

Sales Co: NAI Capital Steve Liu(949) 468-2385

1920 Main StIrvine, CA 92614

(949) 854-6600

Sale Contacts

Sales Contact 1:

Asking Price:

Price/SF: $301.48

$6,500,000 Sale Type:

Bldg Status:

Parcel No: 8264-022-013

Investment Or Owner User

Built in 1990

RBA: 21,560 SFDays on Market: 706

Sale Status: Active

For Sale Data

Percent Leased: 100.0% (21,560 SF Avail)

Spacer

Tenancy: Single

Bldg Type: Office

B

21,560 SF

Class:

Total Avail:

Bldg Vacant:

Tenancy:

Owner Type:

Owner Occupied

0 SF

Single

Corporate/User

Yes

Bldg Status: Built in 1990

100.0%

For Sale Only

% Leased:

Rent/SF/Yr:

Typical Floor Size:

Land Area:

Elevators:

Zoning: 21,560 SF

1.42 AC

0

IDM11/2

Current Building Information

RBA: 21,560 SF

Core Factor: -

Stories: 1

Building FAR: 0.35

Parking: 86 free Surface Spaces are available; Ratio of 3.99/1,000 SF

Const Type: Reinforced Concrete

Expenses: 2019 Tax @ $5.32/sf

ID: 614160

Location Information

Copyrighted report licensed to Dream Realty Asset Management, Inc. - 1061557. 6/4/2020

Page 1

11



19062 E San Jose Ave

City of Industry, CA 91748

Sale on 12/4/2019 for $5,550,000 ($300.00/SF) - Research Complete

18,500 SF Class B Warehouse Building Built in 1979

SOLD

5

Buyer & Seller Contact Info

Recorded Buyer: Recorded Seller: Golden Triangle Group LlcV & T Property Llc

True Buyer: True Seller: Lawrence Shih

Lawrence Shih

48900 Milmont DrFremont, CA 94538

Calif Professional Engineering

Van Nguyen

19062 E San Jose AveCity of Industry, CA 91748(626) 810-1338

Buyer Type: Seller Type: IndividualOther - Private

Buyer Broker: Listing Broker: Lee & Associates

Chris Bonney

(562) 568-2011

NAI Capital

Ryan Campbell

(909) 348-0606

Sale Date:

Price/SF:

Sale Price:

$300.00

$5,550,000-Confirmed

12/04/2019 (125 days on market)

Bldg Type:

Land Area:

Year Built/Age:

RBA:

Warehouse

Built in 1979 Age: 40

18,500 SF

1.91 AC (83,239 SF)

Percent Leased: 100.0%

Transaction Details

Asking Price: $5,800,000

Price/AC Land Gross: $2,904,390.60

Total Value Assessed:

Improved Value Assessed

Land Value Assessed:

$2,443,382 in 2019

$78,817

$2,364,565

Percent Improved: 3.2%

Land Assessed/AC: $1,237,409

Owner UserSale Type:

Transfer Tax: $6,105

ID: 4985435

-

Spacer

Tenancy: Single

Escrow Length: -

Parcel No:

Financing:

8760-003-011

Down payment of $2,050,000.00 (36.9%)$3,500,000.00 from Cathay Bank

Document No: 1333263

No. of Tenants: 1

Legal Desc: Lots 146 & 147 The Forster and Rowland Tract Sheet 2 Book 20 PG 14 & 15

Tenants at time of sale: Calif Professional Engineering


Page 14

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18421 E Valley Blvd - Valley Industrial Park


17,600 SF Warehouse Building Built in 1976

Property is for sale at $4,400,000 ($250/SF)

FOR SALE

7Valley Industrial Park

Sales Co: Besharatzadeh Kambiz Soli Besharat(310) 466-9560

5970 W Pico BlvdLos Angeles, CA 90035

(310) 466-9560

Sale Contacts

Sales Contact 1:

Asking Price:

Price/SF: $250.00

$4,400,000 Sale Type:

Sale Conditions:

Bldg Status:

Parcel No: 8727-021-006

Owner User

Built in 1976

1031 Exchange

RBA: 17,600 SFDays on Market: 112

Sale Status: Active

For Sale Data

Percent Leased: 0.0% (17,600 SF Avail)

Spacer

Tenancy: Single


Page 20

13



19062 E San Jose Ave


Class B Warehouse Building of 18,500 SF Sold on 12/4/2019 for$5,550,000 - Research Complete

buyer

Calif Professional Engineering19062 E San Jose AveCity of Industry, CA 91748(626) 810-1338

Lawrence Shih48900 Milmont DrFremont, CA 94538

seller

vital data

Sale Date: 12/4/2019

Days on Market: 125 days

Exchange: No

Conditions: -

Land Area SF: 83,239

Acres: 1.91

$/SF Land Gross: $66.68

Year Built, Age: 1979 Age: 40

Parking Spaces: 28

Parking Ratio: 1.51/1000 SF

FAR 0.22

Lot Dimensions: -

Frontage: -

Comp ID: 4985435

Sale Price: $5,550,000

Status: Confirmed

Building SF: 18,500 SF

Price/SF: $300.00

Pct Office: 13.5%

Pro Forma Cap Rate: -

Actual Cap Rate: -

Down Pmnt: $2,050,000

Pct Down: 36.9%

Doc No: 1333263

Trans Tax: $6,105

Corner: No

Zoning: M11/2LC

No Tenants: 1

Percent Improved: 3.2%

Submarket: City of Industry Ind

Property Type: Industrial

SingleTenancy:

Parcel No: 8760-003-011

Map Page: Thomas Bros. Guide 679-C3

Escrow/Contract: -

income expense data

$33,765

$33,765

Total Expenses

- Operating Expenses

- TaxesExpenses

Listing Broker

Lee & Associates13181-13191 Crossroads Pky NCity of Industry, CA 91746(562) 699-7500Chris Bonney

Buyer Broker

NAI Capital21660 Copley DrDiamond Bar, CA 91765(909) 348-0600Ryan Campbell

prior sale

Date/Doc No:

Sale Price:

CompID:

4/17/2012

$2,170,000

2298461

financing

1st Cathay Bank

Bal/Pmt: $3,500,000


Page 28

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18421 E Valley Blvd

Valley Industrial ParkCity of Industry, CA 91744

17,600 SF Warehouse Building Built in 1976Property is for sale at $4,400,000 ($250/SF)

buyer

For Sale

-

seller

vital data

Days on Market: 112 days

Conditions: 1031 Exchange

Land Area SF: 44,867 SF

Acres: 1.03 AC

$/SF Land Gross: -

Year Built, Age: 1976 Age: 44

Parking Spaces: 28

Parking Ratio: 1.59/1000 SF

FAR 0.39

Lot Dimensions: -

Frontage: -

Asking Price: $4,400,000

Status: For Sale

Building SF: 17,600 SF

Price/SF: $250.00

Actual Cap Rate: -

Corner: No

Zoning: CM-B-1, County

Submarket: City of Industry Ind

Property Type: Industrial

Map Page: Thomas Bros. Guide 679-B2

8727-021-006Parcel No:

income expense data Listing Broker

Besharatzadeh Kambiz5970 W Pico BlvdLos Angeles, CA 90035(310) 466-9560Soli Besharat

Buyer Broker


Page 30

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LEASE COMPARABLESDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


Prepared for Dr. Lin6/5/2020

(213) 365-0031 Ext: [email protected]

Address

Property Type

Property Subtype

Zoning

Gross LeasableArea

Rentable BuildingArea

Year Built

No. Stories

Lot Size

APN / Parcel ID

Space Available

Asking Rent

Spaces

PropertyDescription

LocationDescription

Notes

18506-18598 GaleAveCity Of Industry, CA91748

Shopping Center

80,000 SF

16,925 SF

$24.00 - $48.00/SF/Yr

10 Spaces

Season's Place islocated at the busyintersection of GaleAve and JellickAve, with easyaccess to Freeway

18001-18055 GaleAveCity Of Industry, CA91748

Shopping Center

303,724 SF

25,225 SF

$18.00 - $42.00/SF/Yr

3 Spaces

18501 Gale AveCity of Industry, CA91748

Office

24,192 SF

1990

$16.80 /SF/Yr

1 Space

Former Neweggoffice. This unitwas built out astech or eCommercecompany.

19138 E Walnut DrNRowland Heights,CA 91748

Office

10,601 SF

1992

$19.20 - $21.60/SF/Yr

4 Spaces

Professional officebuilding centrallylocated in RowlandHeights. Walkingdistance to 99Ranch Market and

1661 Hanover RdCity of Industry, CA91748

Office

30,688 SF

1978

$23.98 /SF/Yr

1 Space

Medical andprofessionalbuilding.

17919 Gale AveCity of Industry, CA91748

Retail

18,136 SF

2014

$18.00 - $27.00/SF/Yr

3 Spaces

High traffic count.Excellent FwyVisibility. Locatedon Gale Avenue onthe north side ofthe Pomona (60)

Properties for Lease

Presented by Peter PaikeXp Realty of California

16



Address

Property Type

Property Subtype

Zoning

Gross LeasableArea

Rentable BuildingArea

Year Built

No. Stories

Lot Size

APN / Parcel ID

Space Available

Asking Rent

Spaces

PropertyDescription

LocationDescription

Notes

17181 Gale AveCity Of Industry, CA91745

Industrial

43,356 SF

1987

$21.00 /SF/Yr

1 Space

Map

17



1 18506-18598 Gale AveCity Of Industry, CA 91748

2 18001-18055 Gale AveCity Of Industry, CA 91748

3 18501 Gale AveCity of Industry, CA 91748

4 19138 E Walnut Dr NRowland Heights, CA 91748

5 1661 Hanover RdCity of Industry, CA 91748

6 17919 Gale AveCity of Industry, CA 91748

7 17181 Gale AveCity Of Industry, CA 91745

Map

Map data ©2020 Google Terms of Use

18

DEMOGRAPHICS SUMMARYDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


19

POPULATION TRENDDiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


20

PROFESSIONAL BIODiamond Family Spa1140 Coiner Court | City of Industry, CA 91748


Peter Paik, CCIM, CPMManaging PrincipaleXp Realty of California | Los Angeles, CAP: 213-923-0227

Peter enjoyed an 11-year career as an executive and asset manager with Jamison Properties, one of thelargest landlord of office buildings and commercial properties in the Greater Los Angeles area. Sincejoining the company, he has been instrumental in turning around twenty-six non-performing high-riseoffice buildings and has personally leased over 2 million square feet of commercial space. Hisresponsibilities included manager training, property management, and leasing. Peter has been in real estate since graduating college and has helped numerous clients invest inproperties yielding large profits. He personally invests in multi-family properties for long-term hold andalso flips properties on the side. His client base ranges from private individuals to major corporations in allof their real estate matters.

He earned the Certified Commercial Investment Member (CCIM) designation, a highly coveteddesignation in the disciplines of commercial and investment real estate and the Certified PropertyManager (CPM) designation of the Institute of Real Estate Management. In addition, he is a licensedgeneral contractor giving him leverage when hiring sub-contractors for his fix & flip projects. Peter has heightened his industry profile by appearing as an international panel speaker at the AsianReal Estate Association of America (AREAA) National Conferences, publishing real estate articles in KoreaCentral Daily and being featured as a Rising Star by Commercial Investment Real Estate Magazine in2009, serving as President for the CCIM Greater Los Angeles Chapter (2008) and currently serving as thePresident of the Korean Real Estate Brokers Association of Southern California.

Peter received his Bachelor’s Degree in Economics from UCLA. He grew up in Los Angeles since1979 and is very active serving the community. Prior to coming to the states, he grew up in Argentinawhere he picked up Spanish.

21

Documents

FOR SALE / LEASE - LoopNet...FOR SALE / LEASE Diamond Family Spa 1140 Coiner Court CITY OF INDUSTRY, CA 91748 PRICE: $6,000,000 PETER PAIK, CCIM, CPM Managing Principal 213-923-0227