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Nicholas Chang, CCIMSenior Vice [email protected] BRE Lic. #01344844
Carey PastorSenior Vice [email protected] #01403298
Richard LeeSenior Vice [email protected] BRE Lic. #01757870
Justin KuehnSenior [email protected] BRE Lic. #01966182
Exclusive Advisors:
580 Third Street | Lake Elsinore
Unique 12 Unit Multi-Tenant Industrial ParkFOR SALE
580 THIRD STREET | PROPERTY AERIAL
PROPERTY AERIALUnique 12 Unit Multi-Tenant Industrial Park
580 THIRD STREET | LOCATION MAP
LOCATION MAPUnique 12 Unit Multi-Tenant Industrial Park
BUILDING FEATURES• Unique 12 Unit Multi-Tenant Industrial Park now available for Sale.
• Fully stabilized investment with long term upside and room for increased rent growth.
• 12 Units from 1,430 SF up to 3,000 SF. Separately metered utilities.
• Under market rents create opportunity to increase Net Operating Income quickly.
• Well located property in prime path of development.
• Ideal diverse tenant mix includes warehouse distribution, manufacturing, light assembly, and service commercial applications.
• Concrete paved yard, fully refurbished roof, skylights, mechanical & electrical systems. All maintained to institutional grade standards.
• Average in place gross income of $0.915 PSF / over $189,804 per year.
• First year proforma NOI over $151,899 per year.
580 THIRD STREET | BUILDING FEATURES
580 Third StreetLake Elsinore
17,290 Square Feet
RENT ROLL
12 Units totaling 17,290 rentable square feet
UnitRentable Square
FeetTenant
Commencement Date
Termination Date
Current Base Rent PSF
CAM PSFTotal Rent
PSFTotal Rent
+ CAMAnnualized Rent
Security Deposit
A / B 2,640 Arias Mechanical Corporation 6/1/2017 5/31/2018 $0.835 $0.065 $0.900 $2,376.00 $28,512.00 $2,376.00
C 1,430 Joseph Perez 9/1/2017 8/31/2019 $0.844 $0.065 $0.909 $1,300.00 $15,600.00 $1,337.00
D / E 2,860 Mel Mel Products, Inc. 8/1/2016 7/31/2018 $0.853 $0.067 $0.920 $2,631.00 $31,572.00 $2,631.00
F 1,430 Ramco Builders 6/1/2016 5/31/2018 $0.898 $0.067 $0.965 $1,380.00 $16,560.00 $1,380.00
G 1,430 Delta Services 2/1/2017 1/31/2018 $0.827 $0.065 $0.892 $1,275.00 $15,300.00 $1,275.00
H 1,500 Hazzard Back Flow, Inc 10/1/2017 9/30/2019 $0.884 $0.065 $0.949 $1,425.00 $17,100.00 $1,468.00
I / J 3,000 Supreme Boxer 3/1/2013 8/31/2018 $0.855 $0.065 $0.920 $2,760.00 $33,120.00 $2,760.00
K 1,500 Jerry J Costa 7/1/2011 7/31/2018 $0.865 $0.065 $0.930 $1,395.00 $16,740.00 $1,281.00
L 1,500 Frutos Polishing 4/1/2009 11/30/2018 $0.769 $0.081 $0.850 $1,275.00 $15,300.00 $1,205.00
Total 17,290 $0.915 $15,817.00 $189,804.00 $15,713.00
580 THIRD STREET | RENT ROLL
Unique 12 Unit Multi-Tenant Industrial Park
580 Third Street, Lake Elsinore is fully stabilized with a diverse
tenant mix of Commercial/Industrial tenants serving the local &
regional economy.
Rent Roll is current as of September 15, 2017 and subject to change.
INVESTMENT PROFORMA
Property: Asking Price: $2,575,000
End Of Year 1 End Of Year 2 End Of Year 3 End Of Year 4 End Of Year 5
Income: Total Gross Income + CAM $189,804 $195,498 $201,363 $207,404 $213,626
Tax Expense Reimbursement
$10,061 $10,061 $10,061 $10,061 $10,061
Total Annual Income $199,865 $205,559 $211,424 $217,465 $223,687
Expenses Property Taxes (1.04%) $26,780 $27,316 $27,862 $28,419 $28,988
Property Insurance $5,000 $5,100 $5,202 $5,306 $5,412
Trash $3,172 $3,235 $3,300 $3,366 $3,433
Water $4,200 $4,284 $4,370 $4,457 $4,546
Electricity $2,294 $2,340 $2,387 $2,434 $2,483
Fire Alarm Service $540 $551 $562 $573 $585
Backflow Water Valve Service $80 $82 $83 $85 $87
General Maintenance & Repairs $3,500 $3,570 $3,641 $3,714 $3,789
Property Management $2,400 $2,448 $2,497 $2,547 $2,598
Total Expenses $47,966 $48,925 $49,904 $50,902 $51,920
Net Operating Income: Net Operating Income $151,899 $156,634 $161,520 $166,563 $171,767
Rate of Return 5.90% 6.08% 6.27% 6.47% 6.67%
580 THIRD STREET | INVESTMENT PROFORMA
Unique 12 Unit Multi-Tenant Industrial Park
Disclaimer: Income projections are hypothetical in nature and in no way guaranteed or implied. This income proforma assumes Tax Reimbursements and a 3% Gross Income growth rate and a 2% Expenses growth rate.
CA BRE License #01990696
800.468.2618 • naicapital.com
Los Angeles County
Commerce 500 Citadel Dr., Ste. 100 Los Angeles, CA 90040 (323) 201-3600
Diamond Bar 21660 E. Copley Dr., Ste. 320 Diamond Bar, CA 91765 (909) 348-0600
Pasadena 225 S. Lake Ave., Ste. 1170 Pasadena, CA 91101 (626) 564-4800
Torrance 970 W. 190th St. Dr., Ste. 100 Torrance, CA 90502 (310) 532-9080
Valencia 27451 Tourney Rd., Ste. 200 Valencia, CA 91355 (661) 705-3550
West Los Angeles 11835 Olympic Blvd., Ste. 700E Los Angeles, CA 90064 (310) 440-8500
Ventura County
Oxnard 300 Esplanade Dr., Ste. 1660 Oxnard, CA 93036 (805) 278-1400
Westlake Village 2555 Townsgate Rd., Ste. 320 Westlake Village, CA 91361 (805) 446-2400
Simi Valley 2655 First St., Ste. 250 Simi Valley, CA 93065 (805) 522-7132
Orange County
Irvine 1920 Main St., Ste. 100 Irvine, CA 92614 (949) 854-6600
San Clemente 120 1/2 El Camino Real, Ste. 210 San Clemente, CA 92674 (949) 874-0415
Inland Empire
Ontario 800 N. Haven Dr., Ste. 400 Ontario, CA 91764 (909) 945-2339
Temecula Valley 27720 Jefferson Ave., Ste. 330 Temecula, CA 92590 (951) 491-7590
Victorville 13911 Park Avenue, Ste. 206 Victorville, CA 92392 (760) 780-4200
Coachella Valley
Palm Desert 75-410 Gerald Ford Dr., Ste. 200 Palm Desert, CA 92211 (760) 346-1566
Headquarters
Encino 16001 Ventura Blvd., Ste. 200 Encino, CA 91436 (818) 905-2400
NAI Capital Offices
No warranty, express or implied, is made as to the accuracy of the information contained herein. this information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. NAI Capital CA BRE #01990696
Contact Information Nicholas Chang, CCIMSenior Vice [email protected] BRE Lic. #01344844
Carey PastorSenior Vice [email protected] BRE Lic. #01403298Coporate CalBRE Lic. #01998652
Richard LeeSenior Vice [email protected] BRE Lic. #01757870
Justin KuehnSenior [email protected] BRE Lic. #01966182
