REO - THE CORNER Retail Center€¦ · • The vacant suites are an ideal size for potential small businesses • Three - Way controlled traffic light • Separately metered Electric

EXCLUSIVE FOR SALE OFFERING

PCG COMMERCIAL | PCGCOMMERCIAL.COM9984 NIBLICK DR, STE. 1, ROSEVILLE, CA 95747

P R I V A T E C L I E N T G R O U P

*REO* - THE CORNER Retail Center5839-5847 MANZANITA AVE. , CARMICHAEL, CA 95608

$2,190,000 | $104 PSF | 9 .08% CAP

D. 916.303.0133BRE #[email protected]

ADRIAN DEL RIOD. 916.622.3947BRE #[email protected]

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D. 916.303.0133BRE #01431059adelr [email protected]


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* R E O * - T H E C O R N E R R E T A I L C E N T E R | 5 8 3 9 - 5 8 4 7 M A N Z A N I T A A V E . , C A R M I C H A E L , C A 9 5 6 0 8

CONFIDENTIALITY & DISCLAIMER

All materials and information received or derived from PCG Commercial its directors, officers, agents, advisors, affiliates and/or any thirdparty sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property,compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither PCG Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied,as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from anysource, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own duediligence to determine these and other matters of significance to such party. PCG Commercial will not investigate or verify any suchmatters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their owninspections and investigations including through appropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. PCG Commercial makes no warranties and/or representations regarding the veracity, completeness, orrelevance of any financial data or assumptions. PCG Commercial does not serve as a financial advisor to any party regarding anyproposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes,may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do notnecessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual andgovernmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified publicaccountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding thecondition of the property and whether the property complies with applicable governmental requirements should be discussed by theparty with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services aremarketed by PCG Commercial in compliance with all applicable fair housing and equal opportunity laws.

PRESENTED BY:

ADRIAN DEL RIOT [email protected]

BRIAN HOODT [email protected]


EXECUTIVE SUMMARY


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DEMOGRAPHICS 1 Mile 2 Miles 3 Miles

Total Households: 7,841 29,692 63,623

Total Population: 18,745 73,734 163,537

Average HH Income: $53,922 $59,178 $62,388

PROPERTY HIGHLIGHTS

• Bank REO priced well below replacement cost

• Recently Rehabbed Buildings with updated Stucco and Paint

• High Traffic Count hard corner location

• High Visibility Neighborhood Retail Center

• Solid existing tenants that will draw in other tenants

• The vacant suites are an ideal size for potential tenants

• Monument Signage on the corner of a Three-Way controlled traffic light

• +/-100 surface parking spaces

OFFERING SUMMARY

Sale Price: $2,190,000

Price / SF: $104.61

Cap Rate: 9.08%

Pro-Forma NOI: $198,792

Lot Size: 2.0 Acres

Year Built: 1985

Building Size: 20,934 SF


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PROPERTY OVERVIEW

5839-5847 Manzanita Ave., Carmichael, also known as "TheCorner Retail", is a Neighborhood Retail Center with (14)separate suites totaling a Net Rentable SF of +/- 20,934 SF. Theproperty is currently at 42% Occupancy which equates to 8,924Leased SF. The tenants are Granite's Restaurant, House ofLiquors, Senioral Taqueria, Classy Nails, Travel Agency, plus aSmoke Shop. The subject property is located on a hard corneron a three way controlled traffic light with high visibility andestimated traffic counts of +/-30,000 (ADT). The property alsohas excellent ingress/egress from both Auburn Blvd. orManzanita Ave.

"The Corner" also offers a fenced area in the back portion of thebuilding for delivery of goods and parking for the businessowners.

LOCATION OVERVIEW

"The Corner Retail Center" is located on the highly traffickedcorner of Manzanita Ave. and Auburn Blvd. which generates +/-30,000 Average Daily Traffic counts (ADT). The Corner hasingress/egress from both Auburn Blvd. and Manzanita Ave.Furthermore, there's a significant amount of residential housingoff of Manzanita in need of quality retail services.

SALES PROCESS AND INSTRUCTIONS

"The Corner Retail Center" is a Bank Owned REO that wasacquired via a foreclosure process. The property is being sold inits "As Is"/"Where Is" condition with all of its faults known orunknown. All prospective Buyers are responsible for completingtheir own due diligence, reports,inspections, valuations, and notlimited to these items.

All prospective Buyers are encouraged to review the brochure,drive the property and the area, then schedule an appointmentwith PCG Commercial (The Listing Firm) to Tour the retailspaces. Buyers should complete as much Due Diligence prior tosubmitting an offer. Offers will be reviewed on a first come/firstserve basis. Buyers should submit their offers along with Proof ofFunds and any other supporting documentation.


PROPERTY DESCRIPTION


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SELLER DISCLAIMER

This is a Bank Owned REO. The current owner shall not beresponsible for and makes no representations or warrantiesabout the accuracy or completeness of any informationconcerning the Property. Owner expressly disclaim all expressor implied responsibility for errors, omissions, representationswith respect to matters of price, value, income, expense, legal ortax consequences, condition of the property including but notlimited to soil, structure, roof or operating systems, investmentpotential, compliance with applicable law, suitability for intendeduse or any other matter. Potential purchasers are responsible forverifying all material considerations and insuring that their offer iscontingent upon such verification. The Bank (Seller) is sellingthe asset in its "As Is"/Where Is" condition with all of its faultsknown or unknown.

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This is a Bank Owned REO. The current owner shall not beresponsiblefor and makes no representations or warranties about theaccuracy orcompleteness of any information concerning the Property.Owner expressly disclaim all express orimplied responsibility for errors, omissions, representations withrespect tomatters of price, value, income, expense, legal or taxconsequences, conditionof the property including but not limited to soil, structure, roof oroperatingsystems, investment potential, compliance with applicable law,suitability forintended use or any other matter. Potential purchasers areresponsible forverifying all material considerations and insuring that their offer iscontingentupon such verification.


*SELLER DISCLAIMER*


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PROPERTY HIGHLIGHTS

• Rare opportunity to purchase a Bank-Owned property

• Pricing is well below replacement cost

• Existing Gross Income to off set vacancy and improvementcosts

• Recently Rehabbed Exterior Stucco and Paint

• High Traffic Count hard corner location

• Recognizable Neighborhood Retail Center

• Existing tenants that will draw in other tenants

• Tenants have large lit up signage with high visibility

• Potential for Triple-Net (NNN) tenants

• Huge potential upside in rents of vacant suites

• Excellent Monument signage

• The vacant suites are an ideal size for potential smallbusinesses

• Three - Way controlled traffic light

• Separately metered Electric and Gas for tenants

• +/-100 surface parking spaces

• Excellent Ingress/Egress

• Large parking lot with sufficient parking

• Vacant spaces are ideal for a Good Will, H&R Block, or CheckCashing

• Fenced Yard/Loading area on the rear side of the property

• Granite's Restaurant has been at this location for +/- 20 years

• Property appears to be ADA Compliant


COMPLETE HIGHLIGHTS


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PHOTOS


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LOCATION MAPS


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AERIAL MAP


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TRAFFIC MAP & PLAT MAP


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* Demographic data derived from 2010 US Census

1 MILE 2 MILES 3 MILES

Total households 7,841 29,692 63,623

Total persons per hh 2.4 2.5 2.6

Average hh income $53,922 $59,178 $62,388

Average house value $248,800 $256,069 $284,599

1 MILE 2 MILES 3 MILES

Total population 18,745 73,734 163,537

Median age 35.6 37.4 36.9

Median age (male) 34.9 36.2 35.5

Median age (female) 37.8 39.4 38.8


DEMOGRAPHICS REPORT


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* Demographic data derived from 2010 US Census

POPULATION 1 MILE 2 MILES 3 MILES

TOTAL POPULATION 18,745 73,734 163,537

MEDIAN AGE 35.6 37.4 36.9

MEDIAN AGE (MALE) 34.9 36.2 35.5

MEDIAN AGE (FEMALE) 37.8 39.4 38.8

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

TOTAL HOUSEHOLDS 7,841 29,692 63,623

# OF PERSONS PER HH 2.4 2.5 2.6

AVERAGE HH INCOME $53,922 $59,178 $62,388

AVERAGE HOUSE VALUE $248,800 $256,069 $284,599


DEMOGRAPHICS MAP

Documents

*REO* - THE CORNER Retail Center€¦ · • The vacant suites are an ideal size for potential small businesses • Three - Way controlled traffic light • Separately metered Electric

REO - THE CORNER Retail Center€¦ · • The vacant suites are an ideal size for potential small businesses • Three - Way controlled traffic light • Separately metered Electric