Santa Rosa Center for Sale - LoopNet...1445 Santa Rosa Ave Santa Rosa, CA 95404 LAND USE Community Shopping Center TAX AREA 004304 JURISDICTION Santa Rosa RECORDING# 2003R093621 REC

Santa Rosa Center for Sale1425-1455 Santa Rosa Avenue, Santa Rosa, CA

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Joel Jaman, Partner1355 N Dutton Ave., Santa Rosa, CA 95401

(707) 528-1400 Fax: (707) 524-1419Lic. #: 00857563

[email protected]

Vicinity Map

FEATURES � 3 freestanding buildings totaling 27,357± sf � 4 legal parcels comprising 2.36± acres � Anchored by Boot Barn, “BOOT” NYSE � Strong rental history � Excellent visibility on Santa Rosa Avenue (main retail corridor) and U.S. Highway 101

� In area with major national tenants � 100% occupied with mix of national and local tenants � Stable tenants with staggered lease expirations � Abundant on-site parking � Close to public transportation � Value added opportunity � Below replacement costs � Professionally Managed

OFFERING PRICE $7,500,000$274 per square foot



SITE PLAN & PARCEL MAP

APN037-171-022 & 023 and 037-180-020 & 037

ACRES2.36±

ZONING AND GENERAL PLANCG (General Commercial) district. The CG zoning district is applied to areas appropriate for a range of retail and service land uses that primarily serve residents and businesses throughout the City, including shops, personal and business services, and restaurants. Residential uses may also be accommodated as part of mixed use projects, and independent residential developments.



PROPERTY:

Location: Price

Price/psf

Size: Cap Rate 6.11% Description: Current Rent Proforma Rent

Annual NOI $418,097 $457,891 Annual Debt Service ($296,326) ($296,326)

Site: Annual Cash Flow $121,771 $161,566

Zoning: Cash Flow % 4.20% 5.57%

Current Rent Projected Rent Scheduled Gross Income $498,393 $539,418

$145,443 $145,443 Down Payment $2,900,000 Less Vacancy 3.0% -$14,952 3.0% ($16,183) Annual Adjusted Income $628,884 $668,678 Loan Amount $4,600,000 Less Expenses -$210,787 ($210,787) Annual NOI $418,097 $457,891 Interest Rate 5.00% Less Annual Debt Service ($296,326) ($296,326) Cash Flow $121,771 $161,566 Amortization (Yrs) 30 Cash Flow % 4.20% 5.57%

Debt Service ($296,326)

SCHEDULED INCOME (as of 12/2018)

Rent/SF Monthly Rent Lease Exp. Rent/SF Taxes $83,375$2.52 $2,790.00 7/13/2019 $3.00 $3,315.00 Insurance $7,815$1.49 $1,650.00 5/31/2019 $1.60 $1,769.60 Maintenance $46,192$1.50 $3,315.00 2/28/2019 $1.60 $3,536.00 Utilities $51,894$1.31 $1,217.84 M-M $1.60 $1,489.60 Common Area$1.43 $839.00 10/31/2020 $1.60 $937.60 Reserves$1.59 $13,524.87 4/30/2023 $1.80 $15,307.20 Management $21,511$1.48 $1,828.00 8/31/2021 $1.60 $1,979.20 Parking$1.63 $2,369.00 10/31/2023 $1.68 $2,441.04$1.30 $10,010.00 10/31/2023 $1.30 $10,010.00 Total Expenses $210,787$1.58 $3,989.00 6/30/2021 $1.65 $4,166.25

Total: $41,532.71 $44,951.49

Annual Scheduled Annual Projected Annual

Monthly x 12 $498,393 Monthly x 12 $539,418 Reimbursements $145,443

REMARKS:

27,357

1,2378,50445 A1

1,106

1425-1455 Santa Rosa Avenue, Santa Rosa, CA 95404

1,105

Community Shopping Center

COMMERCIAL PROPERTY INVESTMENT

Santa Rosa Center - 1425-1455 Santa Rosa Avenue, Santa Rosa, CA 95404

Proforma Cap Rate

$7,500,000$274.15

5.57%27,357

The above information and projection is based on data provided by seller and certain assumptions and projections about the future.

4 separate parcels totaling approx. 2.36± Acres

ANNUAL OPERATING DATA (as of 12/2018)

45 A2

35 C3&435 C5

35 C2

35 C6 586931

2,210

55 B2 2,525

45 A3 1,45355 B1 7,700

Monthly RentApprox. SF

Proforma Leases

Lessee

Plus Reimbursement

CG - General Commercial

35 C1

Annual Expenses

Loan Data

Current and Projected (P)Current Leases



RENT ROLLUNIT LEASE LEASE TYPE AREA LEASE

FROMLEASE TO TERM MONTHLY

RENTANNUAL

INC.MONTHLY

RENT/AREA

ANNUAL RENT

ANNUAL RENT/AREA

ANNUAL REC./AREA

SECURITY DEPOSIT

OPTION

35C1 Subway Sandwiches Retail Net 1,105± 8/1/1999 7/13/2019 239 $2,790.09 $2.52 $33,481.08 $30.30 $6.49 $1,700.00 2-60 mo.35C2 Maria L. Garcia Retail Net 1,106± 4/1/2014 5/31/2019 62 $1,650.00 $1.49 $19,800.00 $17.90 $5.88 $2,000.0035C34 Civic Proud Enterprises Inc. Retail Net 2,210± 3/1/2014 2/28/2019 60 $3,315.00 $1.50 $39,780.00 $18.00 $5.89 $3,000.00 1-60 mo.35C5 Acko Entertainment LLC Retail Net 931± 10/22/2010 M/M 0 $1,217.84 $1.31 $14,614.08 $15.70 $5.87 $1,600.00

35C6 Hermelinda Soto & Ernestina Martinez Retail Net 586± 11/1/2016 10/31/2020 24 $814.83 3% Nov $1.39 $9,777.96 $16.69 $5.90 $1,054.80

45A1 Boot Barn,Inc Commercial 8,504± 11/1/2003 4/30/2023 234 $13,524.87 3% May $1.59 $162,298.44 $19.08 $0.00 $0.00 1-60 mo.45A2 Katherine Wong Retail Net 1,237± 9/1/2008 8/31/2021 156 $1,783.83 2.5% Sept $1.44 $21,405.96 $17.30 $5.88 $1,770.0045A3 The Parron Corporation Retail Net 1,453± 11/1/2017 10/31/2022 60 $2,300.00 3% Oct $1.58 $27,600.00 $19.00 $5.88 $2,000.00 1-60 mo.55B1 John Furtado Commercial 7,700± 11/1/2013 10/31/2018 60 $9,620.00 $1.25 $115,440.00 $14.99 $0.00 $0.00

55B2 Sentinel Cremation Societies, Inc Retail Net 2,525± 7/1/2010 6/30/2021 132 $4,088.75 2.5% July $1.62 $49,065.00 $19.43 $6.73 $4,000.00

TOTAL CURRENT 27,357± $41,105.21 $1.50 $493,262.52 $18.03 $2.50 $17,124.80

TOTAL UNITS TOTAL AREA PERCENTAGE MONTHLY RENT ANNUAL RENTOccupied 10.00 27,357 100 $41,105.21 $493,262.52Vacant 0.00 0 0 0 0Total 10.00 27,357 $41,105.21 $493,262.52



PARCEL # 037-180-020 ADDRESS1445 Santa Rosa Ave Santa Rosa, CA 95404

LAND USECommunity Shopping Center

TAX AREA 004304

JURISDICTIONSanta Rosa

RECORDING#2003R093621

REC DATE05/08/2003

LOT ACRES 1.29±

LAND VALUE$777,344

BLDG VALUE$1,547,814

BLDG SF21,116±

BUILT1989

GENERAL PLANRetail and Business Service

ZONING CODECG


LAND USEVacant Commercial Land W/Util

TAX AREA 004305



REC DATE05/08/2003

LOT ACRES 0.21±

LAND VALUE$137,577

BLDG VALUE$0

BLDG SF0


ZONING CODECG

CITY OF SANTA ROSA PARCEL REPORTS




LAND USEVacant Commercial Lnd W/Util

TAX AREA 004304



REC DATE05/08/2003

LOT ACRES 0.13±

LAND VALUE$777,344

BLDG VALUE$0

BLDG SF0


ZONING CODECG


LAND USERegional Shopping Center

TAX AREA 004305



REC DATE05/08/2003

LOT ACRES 0.73±

LAND VALUE$460,900

BLDG VALUE$447,140

BLDG SF6,116±

BUILT1989


ZONING CODECG

CITY OF SANTA ROSA PARCEL REPORTS



USER SPACERetail

CITYSanta Rosa, CaliforniaCounty of Sonoma

BUSINESS PARKSanta Rosa Avenue

ADDRESS1425-1455 Santa Rosa Avenue, Santa Rosa

RENTABLE SPACE27,357± sf

RENTVariable

TOTAL BUILDING S.F.27,357± sf

PARKINGAbundant on-site

DESCRIPTION OF PREMISES - FEATURESSanta Rosa Center was built in 1989 and consists of three freestanding retail/service buildings on an approximate 2.36 acre site. Each building is multi-tenant with an excellent mix of national, regional and local tenants in each. The project has abundant on-site parking, is professionally managed, has been well maintained and has an excellent rental history.

DESCRIPTION OF LOCATION - AREASanta Rosa Center occupies a prime location just south of the downtown business district on Santa Rosa Avenue. The Center is conveniently and easily accessible from both Santa Rosa Avenue and U S Highway 101 by public and private transportation and is positioned along one of the busiest commercial corridors of Santa Rosa/Sonoma County. Existing and neighboring high profile tenants include Boot Barn, Subway, Fast Signs, State Farm Insurance, Home Depot, Old Navy, Starbucks, Target, Costco, Best Buy, Office Depot, Cost Plus, Trader Joe’s, many restaurants and numerous other commercial and business service ventures.



AERIAL FACING NORTH

AERIAL FACING SOUTH



NEARBY TENANTS

DEMOGRAPHICS

POPULATION AVG HH INCOME1 mile 25,000 $75,000

3 miles 125,000 $82,000

ADT

Hwy 101 130,000 Santa Rosa Ave 28,093





SANTA ROSA

LOCATION DESCRIPTION Santa Rosa, California is the county seat of Sonoma County. It is the largest city in the North Bay Area and all of California’s Wine Country. The city of Santa Rosa is the North Bay’s premier location and as a business and service hub, Santa Rosa is the economic engine that drives the region. As the largest city between Portland and San Francisco, Santa Rosa serves a four county region as the hub for technology and entrepreneurial businesses, retail, banking and employment. Santa Rosa has a dynamic and well-balanced economy, anchored by strengths in tourism, high-tech manufacturing and retail. Residents enjoy a superb quality of life while employers benefit from a skilled workforce. Santa Rosans have a deep appreciation for the arts, education, conscientious business development and quality living.The city of Santa Rosa offers a one-stop permitting process, easy access to Economic Development program staff and Community Development staff, collaborative partnerships with key business players; from our local chambers of commerce, the higher education institutes, brokers, benchmark industries, and community organizations to a global venture community, just to name a few.The city of Santa Rosa is conveniently located just 55 miles north of San Francisco via the Golden Gate Bridge. Santa Rosa is a main shopping hub for the surrounding neighborhoods near and along the 101 corridor, such as Petaluma, Rohnert Park, Windsor, Sonoma, Healdsburg, and Sebastopol. Santa Rosa has several prominent shopping districts, including Downtown, Santa Rosa Avenue, and Montgomery Village, offering a variety of general retail, boutique shops, dining, and entertainment. There are two regional shopping malls, Coddingtown Mall and Santa Rosa Plaza.Home to approx. 500,000 people, Sonoma County is a prime location for tourism as well as residence. Just a short drive from the San Francisco Bay Area, there are nine incorporated cities in the county, in addition to seventeen unincorporated areas. The city of Santa Rosa is the most populous area, home to approximately one-third of the county’s population and was recently named as one of the nation’s “most livable communities” by Partners for Livable Communities.Sonoma County’s unemployment rate is one of the lowest in California and the county continues to show long-term job growth in the health care, hospitality and business service sectors. For the leisure, hospitality, educational and health services, which includes trade schools, social workers and health care professionals, has seen employment growth improve on a year-over-year basis. And business and professional services jobs have increased from a year earlier. In addition, new housing continues to increase throughout the county, while job growth and taxable sales also continue to rise.



SONOMA COUNTY RELAXED LIFESTYLEWith our relaxed lifestyle and diverse scenic beauty that stretches from the vineyards of Sonoma Valley to the Redwood forests and the Pacific Ocean, Sonoma County epitomizes easy living. That’s why Sonoma County receives top marks for its quality of life. The County recently ranked as one of the top 20 counties in the U.S. for climate/scenic beauty by the U.S. Department of Agriculture.

IDEAL LOCATIONLocated less than an hour’s drive north of San Francisco, Sonoma County enjoys the world-class culture of the San Francisco Bay Area, while still maintaining its agricultural heritage and rustic charm. Not surprisingly, Sonoma County was recently ranked as one of the top 100 metropolitan places to live by U.S. News and World Report.

GREAT PLACE TO START A BUSINESSSonoma County provides a range of options that make it a great place to do business. Over 25,000 businesses, both large and small, call Sonoma County home. Having some of the most affordable housing costs and a more competitive cost-of-doing-business compared to the rest of the San Francisco Bay Area, it’s no surprise that young business start-ups are discovering Sonoma County as an ideal place to launch and grow. Nerdwallet.com recently ranked the cities of Healdsburg and Sonoma in the top 20 places to start a business. Sonoma County has also been recognized as one of the top 10 places for supporting Minority-Owned Businesses and Latino Entrepreneurs.



SALES COMPARABLES

Sale Comparables Address Gross

Leasable Area Land Area Building Type Year Built Sale Price Price/SF Sale Date

431-439 Rohnert Park Expy Rohnert Park, CA 94928 18,076sf 2.64 Ac Retail 2003 $8,500,000 $470.24

Under Contract as of 08/09/2018

775-801 S Gravenstein Hwy Sebastopol, CA 95472 12,980 sf 1.10 Ac Retail 1986 $3,490,000 $268.88 01/12/2018

18901-18915 Sonoma Hwy Sonoma, CA 95476 11,462 sf 2.17 Ac Retail Undisclosed $2,862,859 $249.77 12/05/2017

950-980 Gravenstein Ave Sebastopol, CA 95472 21,870 sf 1.74 Ac Retail 1961 $7,150,000 $326.93 05/05/2017

3565-3589 Industrial Dr Santa Rosa, CA 95403 22,297 sf 1.96 Ac Retail 1983 $4,950,000 $222.00 03/30/2017

701 Sonoma Mountain Pky Petaluma, CA 94954 10,041 sf 0.90 Ac Retail 2000 $2,857,328 $284.57 11/10/2016

200 Siesta Way Sonoma, CA 95476 20,516 sf 1.64 Ac Retail 1964 $8,650,000 $421.62 10/17/2016

1480 Guerneville Rd Santa Rosa, Ca

10,000 sf 1.11 Ac Retail 1964 $3,400,000 $340.00 3/2/2018

Sale Comparables Address Gross

Leasable Area Land Area Building Type Year Built Sale Price Price/SF Sale Date

431-439 Rohnert Park Expy Rohnert Park, CA 94928 18,076sf 2.64 Ac Retail 2003 $8,500,000 $470.24

Under Contract as of 08/09/2018

775-801 S Gravenstein Hwy Sebastopol, CA 95472 12,980 sf 1.10 Ac Retail 1986 $3,490,000 $268.88 01/12/2018

18901-18915 Sonoma Hwy Sonoma, CA 95476 11,462 sf 2.17 Ac Retail Undisclosed $2,862,859 $249.77 12/05/2017

950-980 Gravenstein Ave Sebastopol, CA 95472 21,870 sf 1.74 Ac Retail 1961 $7,150,000 $326.93 05/05/2017

3565-3589 Industrial Dr Santa Rosa, CA 95403 22,297 sf 1.96 Ac Retail 1983 $4,950,000 $222.00 03/30/2017

701 Sonoma Mountain Pky Petaluma, CA 94954 10,041 sf 0.90 Ac Retail 2000 $2,857,328 $284.57 11/10/2016

200 Siesta Way Sonoma, CA 95476 20,516 sf 1.64 Ac Retail 1964 $8,650,000 $421.62 10/17/2016



LEASE COMPARABLES

Lease Comparables Address Tenant

Landlord SF Leased Type

Start Date Term

Starting Rent Effective Rent

Free Rent TI Allow

Escalations Expenses

2695 Santa Rosa Ave Santa Rosa, CA 95407 Santa Rosa Ret Submarket

MOD Pizza 3,000 New Direct

Jan 2018 10 Years $3.50/MG

3125 Cleveland Ave Santa Rosa, CA 95403 Santa Rosa Ret Submarket

Mountain Mike’s Pizza 4,480 New Direct

Oct 2018 5 Years $1.50/NNN

1513-1537 Farmers Ln Santa Rosa, CA 95405 Santa Rosa Ret Submarket

Management Office 1,539 New Direct Mar 2018 $1.65/NNN

443 Dutton Ave Santa Rosa, CA 95407 Santa Rosa Ret Submarket

The Jelly Donut 2,172 New Direct Feb 2018 $2.00/NNN

4910 Sonoma Hwy Santa Rosa, CA 95409 Santa Rosa Ret Submarket

Cheaper Coquette & Pipes 1,550 New Direct Feb 2018 $2.20/NNN

4930-4938 Sonoma Hwy Santa Rosa, CA 95409 Santa Rosa Ret Submarket

Pro Nails 1,443 New Direct Feb 2018 $2.00/NNN

4745 Old Redwood Hwy Santa Rosa, CA 95403 Santa Rosa Ret Submarket

Slay Salon 1,250 New Direct

Feb 2018 2 Years $1.92/NNN

1024 Santa Rosa Avenue Santa Rosa, CA 95404 Santa Rosa Ret Submarket

SunTint 1,900 New Direct Jul 2018 $1.84/NNN



DISCLAIMER This property is being offered on an as-is basis. While the Broker believes the information in this brochure to be accurate, no warranty or representation is made as to its accuracy or completeness. Interested parties should conduct independent investigations and reach conclusions without reliance on materials contained in this brochure.This property owner requests that you do not disturb the Tenants, as the property will only be shown in coordination with the Listing Agent.This brochure is presented under the terms and conditions of the Confidentiality Agreement. As such, the material contained in this brochure is confidential and is provided solely for the purpose of considering the purchase of the property described herein. Offers should be presented to the agent for the property owner. Prospective buyers are encouraged to provide buyer’s background, source of funds and any other information that would indicate their ability to complete the transaction smoothly.

CONTACT

Joel JamanPartner

Lic. # 00857563

(707) 528-1400

[email protected]



Documents

Santa Rosa Center for Sale - LoopNet...1445 Santa Rosa Ave Santa Rosa, CA 95404 LAND USE Community Shopping Center TAX AREA 004304 JURISDICTION Santa Rosa RECORDING# 2003R093621 REC