MEDICAL OFFICE BUILDING 7255 N. Cedar Avenue Fresno, CA FOR SALE OR LEASE FOR SALE APPROVED SBA FINANCING

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1 APPROVED SBA FINANCING FOR SALE FOR SALE OR LEASE This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your

2 TABLE OF CONTENTS PAGE 1 PAGE 2 PAGE 3 PAGE 4 PAGE 5 PAGE 6 PAGE 7 PAGE 8 PAGE 9 PAGE 10 PAGE 11 PAGE 12 PAGE 13 PAGE 14 PAGE 15 PAGE 16 PAGE 17 PAGE 18 PAGE 19 PAGE 20 THE CITY OF FRESNO OFFERING SUMMARY SITE SPECIFIC STREET MAP PROPERTY SPECIFICS PLAT MAP SITE PHOTOS RENT ROLL AS-IS and PROFORMA W/ LEASE RATE INCOME AS-IS and PROFORMA PURCHASE INFORMATION 504 SBA OWNER-USER PURCHASE INFORMATION 10% DOWN PAYMENT 504 SBA OWNER-USER PURCHASE INFORMATION 15% DOWN PAYMENT PURCHASE SUMMARY SITE and SURROUNDING MEDICAL FACILITIES PARTIAL IMMEDIATE AREA HOSPITALS and MEDICAL FACILITIES FLOOR PLAN AS-BUILT FLOOPLAN PROPERTY PHOTO DEMOGRAPHICS TRAFFIC COUNT DEMOGRAPHIC MAP This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your

3 THE CITY OF FRESNO Located in the northeast quadrant of the Fresno-Clovis Metropolitan Area, Fresno is situated in the midst of the agriculturally rich San Joaquin Valley. Since its incorporation in 1885, Fresno has been the "Gateway to the Sierra. As of 2013, the city's population was 509,000 making it the fifth largest city in California, the largest inland city in California and the 34th largest in the nation. Fresno is in the center of the San Joaquin Valley and is the largest city in the Central Valley, which contains the San Joaquin Valley. It is approximately 200 miles north of Los Angeles, and 170 miles south of the state capital, Sacramento. Metropolitan Fresno has a population of 1,107, This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 1

4 MEDICAL OFFICE BUILDING 7255 Fresno, CA OFFERING SUMMARY This is an incredible opportunity for a Owner-User or an Investor to purchase a free standing Medical Office Building (MOB) centrally located within the heart of the medical facilities in Fresno, California. This three tenant MOB consists of ±9,785 square feet on ±1.00 acre of land. LOCATION Located on the high traffic corridor of N Cedar Ave in Fresno, California, this beautiful Medical Office Building is poised on the corner of Spruce Ave and Cedar Ave with tremendous exposure boasting ±22,000 vehicles per day (VPD). Within close proximity to the main arteries of Herndon Ave and Highway 41, Cedar Ave is utilized as a primary thoroughfare linking business districts and residents located to the north and south. CONDITION Constructed in 1989, this MOB offers traditional architecture made of predominately brick and stucco with a tile roof, mature lush landscape, automated sprinkler systems and an independent Doctors carport parking area. The property has been extremely well kept with no deferred maintenance. TENANCY This three tenant property was designed and built for medical use and has historically been utilized by three doctors. The recent retirement of one of the doctors has created one vacancy. An Owner-User can capitalize on this while receiving income from the remaining doctors, or an investor can lease the vacant space while creating a leased investment in one of the most sought after medical markets in California This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 2

5 SITE SPECIFIC STREET MAP SITE This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 3

6 SHAW MEDICAL PLAZA OFFICE BUILDING West N. Shaw Cedar Ave Avenue Clovis, Fresno, CA CA PROPERTY SPECIFICS PROPERTY 7255 N. Cedar Ave., Fresno, CA APN BUILDING SIZE 9,785 SF LAND SIZE 43,560 SF LAND USE Medical Building COUNTY USE Medical Dental Office (CMD1) YEAR BUILT 1989 CONSTRUCTION CONDITION ROOF EXTERIOR PARKING PARKING RATIO HVAC ALARM SYSTEM Very Good Tile Mansard Roof w/ Overlay Brick Doctors Covered Parking 6/1000 Total Overall Parking Roof Top Yes This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your 4

7 SHAW MEDICAL PLAZA OFFICE BUILDING West N. Shaw Cedar Ave Avenue Clovis, Fresno, CA CA PLAT MAP This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 5

8 SHAW MEDICAL PLAZA OFFICE BUILDING West N. Shaw Cedar Ave Avenue Clovis, Fresno, CA CA SITE PHOTOS This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 6

9 RENT ROLL AS-IS and PROFORMA W/ LEASE RATE AS-IS UNIT TENANT SQ. FT % OF TOTAL MONTHLY RENT BASE $/SF NEXT INCREASE INCREASES CAM TAXES LEASE EXP SECURITY DEPOSITS 101 VACANT 4, % $0.00 $0.00 NONE NONE INC. N/A NONE NONE OPTIONS 102 ARTHROSCOPIC ASSOCIATES 103 CASTONGUAY MD., INC. 2, % $4, /1/2015 $4, INC. 6/30/2016 NONE NONE 2, % $4, /1/2015 $5, INC. 6/30/2016 NONE NONE TOTALS 9, % $9, PROFORMA UNIT TENANT SQ. FT % OF TOTAL MONTHLY RENT BASE $/SF NEXT INCREASE INCREASES CAM TAXES LEASE EXP SECURITY DEPOSITS OPTIONS 101 PROFORMA 4, % $6, $1.50 NONE NONE INC. N/A NONE NONE 102 ARTHROSCOPIC ASSOCIATES 103 CASTONGUAY MD., INC. 2, % $4, /1/2015 $4, INC. 6/30/2016 NONE NONE 2, % $4, /1/2015 $5, INC. 6/30/2016 NONE NONE TOTALS 9, % $15, This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 7

10 INCOME AS-IS and PROFORMA AS-IS MONTHLY GROSS INCOME $9, ANNUAL GROSS INCOME $116, ANNUAL OPERATING EXPENSES TAXES $20, GARDENING $4, ALARM $1, PARKING LOT MAINTENANCE $ BUILDING INSURANCE $2, BOOK KEEPING $1, PEST CONTROL $1, TOTAL $31, PROFORMA MONTHLY GROSS INCOME $15, ANNUAL GROSS INCOME $191, ANNUAL OPERATING EXPENSES TAXES $20, GARDENING $4, ALARM $1, PARKING LOT MAINTENANCE $ BUILDING INSURANCE $2, BOOK KEEPING $1, PEST CONTROL $1, TOTAL $31, ANNUAL NET OPERATING INCOME $85, ANNUAL NET OPERATING INCOME $159, MONTHLY NET OPERATING INCOME $7, MONTHLY NET OPERATING INCOME $13, PROFORMA CAP RATE 7% OFFERING PRICE $2,281, This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 8

11 PURCHASE INFORMATION This is an Excellent Owner-User Opportunity to purchase a well established Medical Office Building with existing tenant income. The property qualifies for the Government subsidized SBA CDC/504 Loan Program. Per SBA regulations, the Owner-User can utilize the common area as additional square footage for the qualifying criteria to meet the standards of the SBA Loan Program. Please see pre qualified loan program attached. An Owner-User can utilize the current tenant income to substantially reduce the SBA debt service, while taking advantage of the mortgage interest tax reductions. An Investors will benefit from below market replacement cost, while increasing overall valuations with the leasing of unit 101. The Seller will provide an 12 month rent guarantee at the COE to support the Buyers leasing efforts. Low interest rate financing for either scenario above, mitigates risk and provides tremendous Owner-User or Investor upside. PURCHASE PRICE: $ 2,280,000. or $ per SF REPLACEMENT COST EXCLUDING MEDICAL INTERIORS: $ 2,500,000. or $ per SF VALUE OF MEDICAL INTERIORS: $ 489,250. or $ per SF COMPARABLES WITH INCOME: $ 2,450, $ 3,900,000. or $ $ per SF (varies with income) This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 9

12 504 SBA OWNER-USER PURCHASE INFORMATION 10% DOWN PAYMENT This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 10

13 504 SBA OWNER-USER PURCHASE INFORMATION 15% DOWN PAYMENT This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 11

14 PURCHASE SUMMARY AS-IS MONTHLY GROSS INCOME $9, ANNUAL GROSS INCOME $116, ANNUAL OPERATING EXPENSES TAXES $20, GARDENING $4, ALARM $1, PARKING LOT MAINTENANCE $ BUILDING INSURANCE $2, BOOK KEEPING $1, PEST CONTROL $1, TOTAL $31, ANNUAL NET OPERATING INCOME MONTHLY NET OPERATING INCOME $85, $7, Other Variations of Net Payment are available based Buyers increase in Down Payment. Based on Existing Rents as shown to the left. An Owner-User can Purchase this property utilizing the attached SBA 504 loan program, with a nominal down payment and a net cost as follows. NET PAYMENT -10% Down Payment CURRENT ANNUAL INCOME (After Expenses) $85, ANNUAL SBA LOAN PAYMENT $151, NET ANNUAL COST TO BUYER/OWNER-USER $66, OWNER-USER SPACE ANNUAL RENT PER SF $16.00 MONTHLY RENT PER SF $1.33 NET PAYMENT -15% Down Payment 4,149 SQUARE FEET CURRENT ANNUAL INCOME (After Expenses) $85, ANNUAL SBA LOAN PAYMENT $142, NET ANNUAL COST TO BUYER/OWNER-USER $57, OWNER-USER SPACE ANNUAL RENT PER SF $13.82 MONTHLY RENT PER SF $1.15 4,149 SQUARE FEET This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 12

15 PEACH AVE MEDICAL OFFICE BUILDING SITE and SURROUNDING MEDICAL FACILITIES SHAW AVE This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 13

16 SHAW MEDICAL PLAZA OFFICE BUILDING West N. Shaw Cedar Ave Avenue Clovis, Fresno, CA CA PARTIAL IMMEDIATE AREA HOSPITALS and MEDICAL FACILITIES This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 14

17 SHAW MEDICAL PLAZA OFFICE BUILDING West N. Shaw Cedar Ave Avenue Clovis, Fresno, CA CA FLOOR PLAN LEASED UNIT 103 LEASED UNIT 102 XRAY VACANT UNIT 101 COMMON WAITING AREA This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 15

18 AS-BUILT FLOOR PLAN This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 16

19 PEACH AVE MEDICAL OFFICE BUILDING PROPERTY PHOTO SHAW AVE This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 17

20 DEMOGRAPHICS 7255 N. Cedar Ave 1 mile radius 7255 N. Cedar Ave 3 mile radius 2014 Estimated Population 17, , , Projected Population 17, , , Census Population 17, , , Census Population 17, , ,051 Growth % 3.15% 2.29% Growth % 4.23% 3.30% 2014 Estimated Households 6,951 50, , Projected Households 7,061 52, , Census Households 6,896 49,453 99, Census Households 6,976 42,813 90, N. Cedar Ave 5 mile radius 2014 Est. Median Household Income $55,959 $52,744 $49, Projected. Median Household Income $59,473 $56,051 $52, Est. Average Household Inc. $71,816 $71,966 $68, Projected Average Household Income $76,582 $76,693 $73, This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 18

21 SHAW MEDICAL PLAZA OFFICE BUILDING West N. Shaw Cedar Ae Avenue Clovis, Fresno, CA CA TRAFFIC COUNT Street Name Cross Street Year Avg. Daily Traffic Volume Count Type E Alluvial Ave N Cedar Ave ,364 ADT 0.22 E Alluvial Ave N Spalding Ave ,793 ADT 0.27 N Cedar Ave E Herndon Ave ,632 ADT 0.35 E Herndon Ave N Cedar Ave ,202 ADT 0.38 E Herndon Ave N Millbrook Ave ,818 ADT 0.41 E Alluvial Ave N Millbrook Ave ,095 ADT 0.46 E Herndon Ave E Warner Ave ,041 ADT 0.53 E Alluvial Ave N Maple Ave ,472 ADT Eastbound 0.54 N Maple Ave E Birch Ave ,954 ADT 0.57 N Maple Ave E Alluvial Ave ,702 ADT 0.57 E Alluvial Ave N Maple Ave ,719 ADT 0.58 N Maple Ave E Cromwell Ave ,023 ADT 0.62 N Millbrook Ave E el Paso Ave ,001 ADT 0.64 E el Paso Ave N Millbrook Ave ADT Westbound 0.66 E el Paso Ave N Millbrook Ave ADT 0.68 E Herndon Ave N Maple Ave ,756 ADT 0.68 Distance from Center (miles) This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 19

22 DEMOGRAPHIC MAP This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation 20