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OFFERING MEMORANDUM
10116 S Main STLos Angeles CA 90003
FULLY COMPLIANT CANNABIS CENTER
Investment Summary
OFFERING SUMMARY ADDRESS 10116 S Main ST
Los Angeles CA 90003COUNTY Los AngelesBUILDING SF 4,400 SFLAND SF 5,499 SFYEAR BUILT 1957YEAR RENOVATED 2018APN 6063-008-014OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARY OFFERING PRICE $1,100,000PRICE PSF $250.00OCCUPANCY 81.00 %NOI (CURRENT) $162,674CAP RATE (CURRENT) 14.79 %CAP RATE (PRO FORMA) 20.71 %
1 MILE 3 MILE 5 MILEDEMOGRAPHICS 2018 Population 57,852 418,655 1,160,6912018 Median HH Income $34,480 $36,942 $39,8582018 Average HH Income $45,839 $50,639 $54,147
Subject Property Eligible for Type-10 Storefront Cannabis License
GIS Analysis Determined - No "City Identified" receptors within 700 Feet
Each Unit Separately Metered
Fully compliant cannabis property located in the city of Los Angeles. The subject property is 4,400 SF on
approximately 5,499 SF of land zoned C2.
The building has recently undergone extensive remodeling including new electrical, power, lighting,
interior fixtures, and has been customized to operate as a high volume cannabis facility. The rear of the subject
property features a secured automatic gate with parking and alley that is only accessible by the neighbors.
The subject property has been divided into three individual units. The first unit operating as a store front dispensary contains approximately 2,800 SF (located towards the entrance). This unit is currently occupied.
The second unit (vacant) is approximately 800 SF and can be leased for additional income to a cannabis tenant
who would like to operate a "delivery only" business model.
The third unit (occupied) is approximately 800 SF and is located towards the rear of the property. This unit is
occupied by a "delivery only" cannabis tenant.
Each unit is individually metered for all utilities expect water. The building features 400 AMPS - 3 phase power
electrical offering sufficient power to each tenant.
This property will attract an investors looking for high cash flow opportunity in the cannabis sector.
Property Features
PROPERTY FEATURES NUMBER OF TENANTS 3
BUILDING SF 4,400
LAND SF 5,499
YEAR BUILT 1957
YEAR RENOVATED 2018
# OF PARCELS 1
ZONING TYPE LAC2
BUILDING CLASS B
NUMBER OF STORIES 1
NUMBER OF BUILDINGS 1
NUMBER OF PARKING SPACES 3
Location Summary
Regional Map
Locator Map
Aerial Map
Photo
Photo
Photo
Property Images
Property Images
Property Images
Rent Roll Details
Lease Term Rental RatesSquareFeet
% of NRA Lease Start Lease End Begin Date MonthlyBase Rent
Annual BaseRent
Lease Type
2,800 63.64% 03/19/19 03/19/21 CURRENT $10,000 $120,000 GROSS
03/19/2020 $10,112 $10,112
Suite Tenant Name
800 18.18% VACANT FUTURE3 Delivery 800 18.18% 01/01/19 01/01/24 CURRENT $5,600 $67,200 GROSS
01/01/2020 $5,712 $5,712
01/01/2021 $5,826 $5,826
01/01/2022 $5,942 $5,942
01/01/2024 $6,061 $6,061
Totals 4,400 $15,600 $187,200
1
2
Dispensary
Delivery
Income & Expense Analysis
INCOME CURRENT PRO FORMAGross Potential Income $187,200 $254,400
Less: General Vacancy $5,616 $7,632
Effective Gross Income $181,584 $246,768
Less: Expenses $18,910 $18,910
Net Operating Income $162,674 $227,858
CURRENT PROFORMA
EXPENSES
Real Estate Taxes 1.20% $13,200 $13,200
Insurance $2,750 $2,750
Repairs & Maintenance $2,000 $2,000
Water / Sewer $960 $960
Total Operating Expense $18,910 $18,910
Expense / SF $4.29 $4.29
% of EGI 10.41 % 7.66 %
REVENUE ALLOCATION
DISTRIBUTION OF EXPENSES
Demographics
1 MILE 3 MILE 5 MILEPOPULATION
2000 Population 47,432 372,152 1,078,486
2010 Population 53,836 398,012 1,113,125
2018 Population 57,852 418,655 1,160,691
2023 Population 59,816 429,182 1,186,296
2018 African American 17,612 133,136 281,725
2018 American Indian 383 2,745 8,958
2018 Asian 156 2,069 27,975
2018 Hispanic 39,565 277,859 822,449
2018 White 15,216 107,105 351,627
2018 Other Race 22,104 157,043 440,981
2018 Multiracial 2,311 16,128 46,564
2018-2023: Population: Growth Rate 3.35 % 2.50 % 2.20 %
1 MILE 3 MILE 5 MILE2018 HOUSEHOLD INCOME
less than $15,000 2,819 21,294 51,837
$15,000-$24,999 2,297 15,704 42,719
$25,000-$34,999 1,994 13,561 38,067
$35,000-$49,999 2,341 16,550 47,366
$50,000-$74,999 2,245 17,422 53,355
$75,000-$99,999 1,133 9,808 29,890
$100,000-$149,999 915 8,511 27,167
$150,000-$199,999 185 2,458 7,752
$200,000 or greater 134 1,589 5,226
Median HH Income $34,480 $36,942 $39,858
Average HH Income $45,839 $50,639 $54,147
1 MILE 3 MILE 5 MILEHOUSEHOLDS
2000 Total Housing 13,652 106,866 307,540
2010 Total Households 13,339 103,188 294,823
2018 Total Households 14,064 106,897 303,378
2023 Total Households 14,437 108,887 308,171
2018 Average Household Size 4.08 3.88 3.79
2000 Owner Occupied Housing 5,220 42,348 113,908
2000 Renter Occupied Housing 7,087 56,179 173,794
2018 Owner Occupied Housing 5,202 41,161 111,360
2018 Renter Occupied Housing 8,862 65,736 192,018
2018 Vacant Housing 1,296 8,956 21,139
2018 Total Housing 15,360 115,853 324,517
2023 Owner Occupied Housing 5,858 45,750 123,519
2023 Renter Occupied Housing 8,579 63,136 184,652
2023 Vacant Housing 1,363 9,258 22,050
2023 Total Housing 15,800 118,145 330,221
2018-2023: Households: Growth Rate 2.60 % 1.85 % 1.55 %
Demographic Charts
1 Mile Radius 3 Mile Radius 5 Mile Radius
2018 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2018 Population by Race
Demographic Charts
2018 Household Occupancy - 1 Mile Radius
Average Income Median Income
2018 Household Income Average and Median
CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Light Year Realty Inc and it should not be made available to any other person or entity without the written consent of Light Year Realty Inc.
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Light Year Realty Inc. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. Light Year Realty Inc has not made any investigation, 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, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or 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 offering memorandum has been obtained from sources we believe reliable; however, Light Year Realty Inc has not verified, and will not verify, any of the information contained herein, nor has Light Year Realty Inc conducted any investigation 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
Exclusively Marketed by:
Jacob LavianSenior Investment Associate (310) 346-4905License # 01956381 [email protected]
440 Shatto Place. Suite 409, Los Angeles, CA 90020
