nd Street, Manhattan Beach 22,216 SF of Land 9,000 SF of Existing Buildings

Transcription

1 nd Street, Manhattan Beach 22,216 SF of Land 9,000 SF of Existing Buildings Proposed Development For Further Information Contact Steve Miller (310) C A D R E L i c e n s e

2 PROPERTY DESCRIPTION Location: nd Street, Manhattan Beach, CA Half block north of Sepulveda Blvd. with line of sight visibility from Sepulveda Elevated site from southeast corner of 22 nd Street & Sepulveda Boulevard Adjacent to UCLA Radiology & across street from Walgreens Drug Current Use: 9,000 SF Retail Center on 22,216 SF Lot Two (2), one (1) story buildings Six (6) longtime Tenants, all on month-to-month leases Schooner Bar & Grill Magic Skewers Restaurant Hair Salon Stir Fry Grill Manhattan Beach Printer Silk Screening Price: $4,250,000 $472 per SF of Buildings $191 per SF of Land Terms: All Cash at closing Conditions: As-Is / Where-Is Existing Loan(s): None Current Income: Lot Size per Title: Access: $107,295 Annual Modified Gross Income (less taxes & insurance) $8,941 Month Modified Gross Income 22,216 square feet (260 feet on 22 nd Street, 150 feet on the westerly border adjacent 2200 N. Sepulveda (UCLA Radiology) and 135 feet on Cedar Avenue Two (2) driveways for ingress & egress (22 nd Street & Cedar Avenue) Assessors Parcel #: Year Built: 1953 Parking: Site Condition: Approximately 23 marked spaces (2.5 spaces per 1,000 SF) Flat to moderate slope from east to west. The site is elevated above westerly property line (2200 N Sepulveda Bl. UCLA Radiology) and from southeast corner of Sepulveda Boulevard and 22 nd Street Zoning: General Commercial All prospective buyers to confirm with City of Manhattan Beach potential uses and / or redevelopment approvals and City criteria MB Zoning Map: Planning & Zoning Department:

3 Rent Roll: Address Tenant Sq. Ft. Rent $/SF Property Benefits 1120 Schooner Bar & Grill 2,950 $3, $ C Schooner Storage 450 $ $ Magic Skewers Rest. 2,000 $1, $ Vanities Hair Salon 750 $1, $ Stir Fry Grill 750 $ $ Manhattan Bch Repro 750 $ $ A RG Silk Screening 900 $1, $ B West Ventures Mgmt 450 $ 0 $ 0 Total 8 Spaces 9,000 $8, $.99 $107, Annual Gross Large developable corner parcel, in premium location of highly desirable Manhattan Beach. Elevated site from SEC of Sepulveda Boulevard and 22 nd Street provides Line of Sight Visibility General commercial zoning allows for large array of property developments and use; Potentially 18,000 square feet of general office space (3 floors with on site parking), or; Potentially 12,000 square feet of medical office space (3 floors with on site parking) Adjacent to UCLA Radiology, Walgreens, Excellent Access to Manhattan Village Mall, Strong Retail Services, Hospitality, Medical & Office Uses Corridor Increase rents to market and provide minimal Improvements while holding asset for future development; Excellent Demographics: o1 mile 2 mile 3 mile Current Population 22,243 68, ,809 Average Household Income $154,830 $131,966 $102,658 Approximate Average Daily Traffic Count North & South Bound on Sepulveda Blvd: East & West on Marine Ave: 65,000 ADT 22,000 ADT

4 *

5

6 Southwest corner of 22 nd Street and Cedar Avenue 22 nd Street Store Fronts

7 Subject Property and rear parking for adjacent 2200 N. Sepulveda, note change of elevation Rear Parking and Rear Building 1112 A, B, & C

8 Proposed Development ~ nd Street, Manhattan Beach, CA PROPOSED DEVELOPMENT PLAN

9 Proposed Development ~ nd Street, Manhattan Beach, CA PROPOSED DEVELOPMENT PLAN

10 Proposed Development ~ nd Street, Manhattan Beach, CA PROPOSED DEVELOPMENT PLAN

11 Proposed Development ~ nd Street, Manhattan Beach, CA PROPOSED DEVELOPMENT PLAN