CIVIC CENTER 510 DRIVE VISTA, CALIFORNIA

OWNER USER OR INVESTMENT OFFERING OFFICE BUILDING 510 CIVIC CENTER DRIVE { 2 }

TABLE OF CONTENTS

EXECUTIVE SUMMARY MIKE HANNA INVESTMENT HIGHLIGHTS SENIOR VICE PRESIDENT 951.445.4503 UNIT DESCRIPTIONS [email protected] DRE #01456055 LEASE VS. OWN COMPARISON SHERI SHOEMAKER PROPERTY DESCRIPTION SENIOR VICE PRESIDENT 951.445.4510 FLOOR PLAN [email protected] DRE #00846946 PROPERTY PHOTOS

AERIALS

CITY OF VISTA No warranty or representation has been made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. Lee & Associates Commercial Real Estate Services, Inc. - Riverside. 25240 Hancock DEMOGRAPHICS Avenue, Suite 100 - Murrieta, CA 92562 Corporate ID# 01048055 510 CIVIC CENTER DRIVE { 3 } EXECUTIVE SUMMARY

Lee & Associates Commercial Real Estate Services is pleased to present three (3) individual office condominium suites for sale within the Civic Center Office Building. The three units are part of a five unit development at 510 Civic Center Drive in beautiful downtown Vista, CA. These units are referred to as a Planned Unit Development which lenders look more favorably upon.

The Civic Center Office Building holds two triple net leases (NNN) with national cellular companies for cell towers; T-MOBILE and Sprint respectively. The monthly income of $1,234 from these towers is shared among building ownership. As an owner, you participate by receiving a percentage of this income based on the prorata share of each unit. This income pays the owners’ common area maintenance and insurance on the building. Each unit also has a large, secure storage room located on the second floor of unit E.

Each unit has its own restroom, heating and air conditioning unit and separate gas and electric meters and signage on monument sign.

OFFERING PRICE: $650,000

PRICE PSF: $194.96

UNITS: (3) Units

OCCUPANCY: 33%

BUILDING SIZE: 3,334 SF

AMAZING OWNER USER OPPORTUNITY! OWN YOUR OWN REAL ESTATE FOR YOUR BUSINESS AS POTENTIALLY LOW AS $486 PER MONTH!

*See the Lease vs. Own Comparison on page 6. 510 CIVIC CENTER DRIVE { 4 } INVESTMENT HIGHLIGHTS

• Well-proportioned and • Cell Tower Income and move in ready suites from shared common area 1,098 RSF – 3,334 RSF expenses allowing for little to no maintenance costs • High image professional office space for sale in the • Located within walking fastest growing submarket distance to City of Vista in Vista, CA offices at the Vista Civic Center with various retail, • Excellent Owner User professional services, hotel Opportunity - Occupy and restaurant amenities the entire or a portion nearby of the building and lease the balance for income • Ample and Abundant onsite reserving future expansion parking fronting each of the capability. Perfect units opportunity for legal services, architects, lenders, • Each unit has a large, title or escrow or real separate, secure storage estate companies area included

• Convenient access to • Seller may consider selling Highway 78 and I-15 each of the three suites freeway and minutes from individually the Pacific Ocean 510 CIVIC CENTER DRIVE { 5 } UNIT DESCRIPTIONS

Suite C 1,098 SF $1.08 MG MTM Lease (3) Private Offices, Reception, conference room, open area, one restroom. Available with 30 days notice.

Suite D 1,098 SF Vacant (3) Private Offices, Reception, open area, one restroom.

Suite E 1,138 SF Vacant (Former Law Firm) (2) Private Offices, Reception, conference room, open area, one restroom. Includes 2nd Floor consisting of six (6) approximately 10x13 SF Private Storage Rooms for each of the Units. (A-E)

MG Rate: Tenant pays separately metered gas & electricity 510 CIVIC CENTER DRIVE { 6 } LEASE VS. OWN COMPARISON

Address: 510 Civic Center Dr., Vista, CA 92084 Property Size: 3,334 Square Feet*Unit C, D & E totaling 3,334 Square Feet

OWN LEASE PURCHASE ASSUMPTIONS: LEASE ASSUMPTIONS: Per Sq. Ft. SBA 504 FINANCING PROGRAM Purchase Price $194.96 $650,000 Lease rate per square foot per month $1.25 SBA Fees (Financed) $10,000 Lease rate per month $4,168 Total Project Cost $660,000 Total Project Cost $660,000 Cash down payment: $65,000 START-UP COSTS 10% of Purchase Price START-UP COSTS Cash down payment (10%) $65,000 Amount financed Prepaid lease payment and security deposit $8,335 $605,000 (includes SBA fees) MONTHLY COSTS Per Sq. Ft. Amount MONTHLY COSTS Per Sq. Ft. Amount Monthly Payment $0.853 $2,845 Lease payment $1.250 $4,168 Note that interest rates vary from month to month and loan terms differ from one lender to another. Association Dues $0.180 $600 Monthly payment $2,845 Property Mgmt.

The SBA 504 program provides 90% financing by Insurance combining a loan from a regular bank for 50% of the Property Taxes $0.227 $596 total loan amount and a loan from the SBA for 40% of the total loan amount (plus financed SBA loan fees). Insurance $0.019 $65 Total Monthly Costs $1.250 $4,168 The buyer provides a 10% cash down payment. Total Monthly Costs $1.232 $4,106 MONTHLY LEASE BENEFITS MONTHLY OWNERSHIP BENEFITS Amount SBA Financing 1st Mortgage by Bank Loan Amount $325,000 Per Sq. Ft Amount Monthly Depreciation estimate $0.00 Interest Rate 3.50% (estimate) Amortization in years 25 year amortization Monthly Depreciation estimate $0.133 $444 Property Tax Benefit $0.00 Percent of Total Loan Amount 50% of total Loan Fee $3,250 1.00% (estimate) Property Tax Benefit $0.071 $238 Interest Deduction $0.00 Monthly Payment $1,627 Interest Deduction $0.180 $600

SBA Financing 2nd Mortgage by SBA Monthly Cell Tower Income $0.370 $1,234 Total Ownership Benefits $0.00 Loan Amount $260,000 Monthly Rental Income from Suite C $1.250 $1,373 Interest Rate 2.55% (Nov '20) Amortization in years 25 year amortization Total Ownership Benefits $0.385 $3,890 TOTAL EFFECTIVE MONTHLY COST $4,168 Percent of Total Loan Amount 40% of total Loan Fee $10,000 2.65% + $3,000 legal fee TOTAL EFFECTIVE MONTHLY COST $216 Monthly Payment $1,218 (includes SBA fees)

Benefits of owning include: equity growth, control of costs, cash flow, tax benefits, and retirement investment. Appreciation Benefits of Ownership For more information, Property Taxes: $9,087 per year for all 3 units Property Tax Benefit and Interest Deduction: Estimated please contact: at 40% tax bracket. Rate of Assumed Appreciation 3% Insurance: Based on $10,000 estimated property insurance. Owner's Equity: Estimated equity after 3 years would be Appr Value Year 1 669,500 Estimated based upon 80% allocation of Lisa Matta Depreciation: $125,273 (assumes annual appreciation at 3%; plus initial purchase price to building cost and 40% tax bracket. Appr Value Year 2 689,585 equity injection). 951-400-2213 Appr Value Year 3 710,273 TO RIVERSIDE VISTA INNOVATION CIVIC CENTERCIVIC CENTER DRIVE DRIVE DESIGN ACADEMY LUZ 510DURAN { 7 } { 7 } PARK

VISTA VILLAGE DR WAVE WILDWOOD VISTA MAGNET WATERPARK PARK VALE TERRACEBRENGLE DR MIDDLE SCHOOL TERRACE OF TECHNOLOGY VISTA PARK VISTA CIVIC CIVIC CENTER CENTER 510 DRIVE VISTA SUPERIOR COURT LIBRARY NORTH COUNTY

S SANTA FE AVE MOONLIGHT DIVISION VISTA, CALIFORNIA AMPHITHEATRE

S SANTA FE AVE CIVIC CENTER DR BEAUMONT ELEMENTARY SCHOOL TO SAN DIEGO 510 CIVIC CENTER DRIVE { 8 } PARCEL MAP PROPERTY DESCRIPTION

510 Civic Center Drive, ADDRESS: Suites C, D, E

CITY: Vista

STATE, ZIP: California, 92084

Suite C: 176-171-21 APN: Suite D: 176-171-22 Suite E: 176-171-23

BUILDING SIZE: 3,334 square feet

LAND SIZE: 0.45 acres

YEAR BUILT: 1991

STORIES: Two (2), Second Floor Storage Only

PARKING RATIO: 2.5 per 1,000 square feet

CONSTRUCTION TYPE: Wood / Stucco

ELEVATOR: No

ZONING: Mixed Use / M-U 510 CIVIC CENTER DRIVE { 9 } FLOOR PLAN

C E STORAGE #4 10 X 13 STORAGE #5 10 X 12

D Extra - Andy DePauer STORAGE #3 STORAGE #6 10 X 13 10 X 12

A B STORAGE #1 STORAGE #2 15 X 10 10 X 13

SECOND FLOOR PLAN

SUITE NAPA SUITE B SUITE C SUITE D SUITE E 1,200.50 SQ. FT. 1,103.38 SQ. FT. 1,098.90 SQ. FT. 1,098.90 SQ. FT. 1,138.80 SQ. FT.

CHIROPRACTOR 510 CIVIC CENTER DRIVE { 10 } PROPERTY PHOTOS 510 CIVIC CENTER DRIVE { 11 } PROPERTY PHOTOS 510 CIVIC CENTER DRIVE { 12 } BIRDS EYE AERIAL

EUCALYPTUS AVE

31,689 CPD CIVIC CENTER DRCIVIC CENTER 510 DRIVE VISTA, CALIFORNIA

CRESCENT DR 510 CIVIC CENTER DRIVE { 13 }

UV76

¨¦§5 CIVIC CENTER DRIVE 510 ¨¦§15 VISTA, CALIFORNIA Vista Oceanside San Diego UV78

Carlsbad

Pacific Ocean San Marcos

Escondido

j GGS6

Encinitas 510 CIVIC CENTER DRIVE { 14 } AMENITIES AERIAL

Laurel Pointe by Pulte • 160 new homes • 95% sold Higher income residential • $650k-$850k neighborhoods to the north and east of Vista Terrace

Shea Homes • 73 Single Family Homes • $500K-$550K

Enclave at Delpy’s Corner • 124 townhomes • 2018 delivery Alexan Melrose • 410 high-end apartment units • 96% leased VISTA VILLAGE

CIVIC CENTER Tesoro Homes • 50 new homes 510 DRIVE • $400k-$500k • Sold out VISTA, CALIFORNIA 510 CIVIC CENTER DRIVE { 15 }

CITY OF VISTA

Vista is a city in and is located in northwestern San Diego County. Vista is a medium-sized city within the San Diego Metropolitan Area and has a population of 101,659. Vista's sphere of influence also includes portions of unincorporated San Diego County to north and east, with a county island in the central west.[10] Located just seven miles inland from the Pacific Ocean, it has a Mediterranean climate.

Originally the lands of and , Vista was founded on October 9, 1882 with the establishment of a post office.[11] It was incorporated on January 28, 1963 and became a charter city on June 13, 2007.

Vista has more than 25 educational institutions for youth, and a business park home to over 800 companies. Vista is ranked as the 173rd-best place in California out of 240 for families, based on factors such as family life, recreational opportunities, education, health, safety, and affordability in a 2015 review. 510 CIVIC CENTER DRIVE { 16 } DEMOGRAPHICS

With more than 1.37 14 advanced million people, San industries produce Diego is the eighth- $42.1 billion and largest city in the pay $116,600/ United States and year on average the second-largest in (Brookings California. Institute)

San Diego County Demographics

2020 Estimated Population 3,360,000

2025 Projected Population 3,390,000

2010 Census Population 3,100,000

2000 Census Population 2,810,000

Growth 2010-2020 0.9% Wave Waterpark - Vista, CA

Growth 2020-2025 0.2%

2020 Estimated Median Age 35.8

2020 Estimated Average Age 36

2020 Estimated Households 1,190,000

2010 Census Households 1,090,000

Growth 2000-2020 1.0%

2020 Est. Median Household Income $85,901

South Carlsbad Beach - Carlsbad, CA 510 CIVIC CENTER DRIVE { 17 } DEMOGRAPHICS

Vista Demographics

2020 Estimated Population 102,055

2010 Census Population 94,047

2000 Census Population 89,006

Growth 2020-2025 0.1%

2020 Estimated Median Age 33.3

2020 Estimated Average Age 33

2020 Estimated Households 32,162

2010 Census Households 29,332

Growth 2020-2025 0.8%

2020 Est. Median Household Income $75,224 Batiquitos Lagoon - Carlsbad, CA The Average Housing Value $516,248

Rancho Guajome Adobe - Vista, CA Alta Vista Botanical Garden - Vista, CA CIVIC CENTER510 CIVIC CENTER DRIVE { 18 } 510 DRIVE VISTA, CALIFORNIA

MIKE HANNA SENIOR VICE PRESIDENT 951.445.4503 [email protected] DRE #01456055

SHERI SHOEMAKER SENIOR VICE PRESIDENT 951.445.4510 [email protected] DRE #00846946

No warranty or representation has been made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice. Lee & Associates Commercial Real Estate Services, Inc. - Riverside. 25240 Hancock Avenue, Suite 100 - Murrieta, CA 92562 Corporate ID# 01048055