SOUTHERN 'S PREMIER SALES TEAM

1,260 SF of Gas Station and Located on 15,801 SF of NNN Lease Signalized Corner Automotive Repair Shop Land Zoned CPD Location INVESTMENT ADVISORS BRANDON MICHAELS Senior Managing Director of Investments Senior Director, National Retail Group Tel: (818) 212-2794 Fax: (818) 212-2710 [email protected] License: CA #01434685 www.BrandonMichaelsGroup.com AUSTIN SREDEN Investment Associates National Retail Group Tel: (818) 212-2805 Fax: (818) 212-2710 [email protected] License: CA #02023489 www.BrandonMichaelsGroup.com

CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party re- ceiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified infor- mation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for aw thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminat- ing substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the finan- cial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we be- lieve to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Mar- cus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE TABLE OF CONTENTS Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The pres- ence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the pur- pose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DE- TAILS. SPECIAL COVID-19 NOTICE

All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, 1 2 4 due diligence on behalf of any prospective purchaser. Marcus & Millichap’s 3 principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its PROPERTY OVERVIEW FINANCIAL ANALYSIS COMPARABLES ANALYSIS AREA OVERVIEW investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.) 2 3 PROPERTY OVERVIEW CORRIGANVILLE

RONALD REAGAN FWY

Service station and automotive repair shop located on the signalized corner of Tapo Street and Cochran Street, on 15,801 square feet of land within close proximity to the 118 Freeway in , CA

The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively represent for sale 2399 Tapo St, a gas station and automotive repair shop totaling 1,260 square feet of building on 15,801 square feet of land. The property is located on the southwest signalized corner of Tapo Street and Cochran Street.

Both the gas station and automotive repair shop have leases in place through January 1, 2022, with one five-year option each. The property is walking distance from several retail amenities, including Taco Bel, McDonald’s, 99 Cents Only, Subway, JOANN Fabrics and Crafts, and Walmart Neighborhood Market. The dense retail corridor makes this one of the highest traffic areas of Simi Valley.

The subject property is 100% leased on a triple net basis through a minimum of January 1, 2022. The service station is ideally located two blocks from the 118 freeway at a signalized corner, with traffic counts exceeding 16,300 vehicles per day. The station can be accessed from both Tapo Street and Cochran Street.

The surrounding area boasts an average household income of $105,000 within one mile of the subject property and an average income north of $115,000 within a five- mile radius of the subject property. The median household income is north of $95,000 within a three-mile radius of the subject property. There are over 115,000 people within a five-mile radius. The immediate area has experienced significant growth over the past nine years, with strong growth projections over the next five years.

TAPO ST

COCHRAN ST

15,801 SF 1,260 SF NNN CPD 8.24% LAND SF BUILDING SF LEASE TYPE ZONING CAP RATE

6 7 INVESTMENT HIGHLIGHTS

Strong Simi Valley Signalized Corner Location • Ideally located two blocks from the 118 freeway SANTA SAUNA • Signalized corner location with traffic counts exceeding 16,300 vehicles per day • Excellent ingress egress as the property can be accessed from both Tapo Street and Cochran Street

Strong Immediate Demographics • Over 46,000 people located within 2 miles of the subject property • Over 115,600 people located within 5 miles of the property, and 544,480 people located within 10 miles of the property • Over 16,000 households within 2 miles and over 37,800 households located within 5 miles of the property, and 186,700 located within 10 miles of the property • Average household income of over $113,314 • Median home value of over $654,000 within 2 miles of the subject property

Proximate to Numerous Retail Amenities • Walking distance from McDonald’s, Taco Bell, 99 Cents Only, Subway, JOANN Fabrics and Crafts, and Walmart Neighborhood Market

TAPO ST • Located less than one mile from Bed Bath & Beyond, Starbucks, Panda Express, Wingstop, Carl’s Jr, Five Guys, and El Pollo Loco

COCHRAN ST 8 9 SIMI VALLEY

RONALD REAGAN FWY Signalized Corner property located two blocks from the 118 freeway, at the signalized intersection of Tapo Street and Cochran Street

The property is ideally located at the corner of Tapo Street and Cochran Street, just two blocks from the 118 freeway. Simi Valley is located in the southeast corner of Ventura County. The city is bordered by Thousand Oaks, Moorpark, and Chatsworth. Simi Valley is home to two popular tourist attractions, Former Corriganville , and the Ronald Reagan Presidential Library and Museum.

The Corriganville Movie Ranch was a working film studio and movie ranch for outdoor location shooting, it is also known as a -themed tourist attraction. Several movies and television shows were shot at the location, such as Star Trek, The Lone Ranger, Buffalo Bill in Tomahawk Territory, and Fort Apache. Fires destroyed the majority of the ranch, which is when former owner Bob Hope sold the property to the City of Simi Valley for use as a regional park.

The Ronald Reagan Presidential Library is the largest of 13 federally operated presidential libraries, and contains millions of documents, photographs, films and tapes. The library is the repository of presidential records for the 40th President, the library includes 500 million pages of presidential documents, 1.6 million photographs, and a half-million feet of motion picture film. When the library first opened, it was the largest of the presidential libraries at 153,000 square feet.

A study done by the University of Vermont ranked Simi Valley as the fifth-happiest city in the . According to crime statistics by the FBI in 2013, Simi Valley is the seventh-safest city in the U.S. with a population of 100,000 or more. The U.S. Census Bureau of 2018 reported a median household income of $93,516.

COCHRAN ST

TAPO ST SANTA SUSANA PASS RONALD REAGAN GARDENS OF THE CORRIGANVILLE PARK STATE HISTORIC PARK MOORPARK COLLEGE PRESIDENTIAL LIBRARY WORLD 4.5 MILES 5.5 MILES 8.5 MILES 8.6 MILES 18.3 MILES

10 11 PROPERTY HIGHLIGHTS

15,801 SF CPD 12 100% LAND SF ZONING PARKING SPACES OCCUPANCY

PROPERTY INFORMATION

2399 Tapo Street ADDRESS: Simi Valley, CA 93063

PRICE: $1,879,000*

BUILDING SF: 1,260 SF

LAND SF: 15,801 SF

PRICE/SF (BUILDING): $1,491

PRICE/SF (LAND): $119

CAP RATE: 8.24%

YEAR BUILT: 1962

APN NUMBER: 618-0-160-015

ZONING: CPD

PARKING SPACES: 12

FRONTAGE: 131' on Tapo St (with 2 curb cuts)

* Two 12,000 gallon single wall tanks need to be replaced by 2025.

12 13 FINANCIAL ANALYSIS FINANCIAL ANALYSIS

RENT ROLL PRICING

TENANT SF SF % LEASE EXP OPTIONS RENT RENT/SF 2399 Tapo Street Gas Station 400 32% 1/1/2022 1x 5 year $6,500.00 $16.25 Address: Simi Valley, CA 93063 Keans Automotive 860 68% 1/1/2022 1x 5 year $6,400.00 $7.44 TOTAL 1,260 100% $12,900.00 $10.24 Price: $1,879,000*

Building SF: 1,260 SF ANNUALIZED OPERATING DATA Price/SF (Building): $1,491 Land SF: 15,801 SF INCOME AND EXPENSE CURRENT EXPENSE BREAKDOWN PER YEAR PER SF

Scheduled Lease Income $154,800 Taxes @ 1.25% $22,548 $17.90 Price/SF (Land): $119

NNN Charges $32,187 Insurances $580 $0.46 CAP Rate: 8.24% Effective Gross Income: $186,987 Utilities $2,470 $1.96 * Two 12,000 gallon single wall tanks need to be replaced by 2025. Vacancy @5% Trash Removal $328 $0.26

Expenses $32,187 Janitorial $706 $0.56

Net Operating Income $154,800 Repairs & Maintenance $2,545 $2.02 Management Fee $2,054 $1.63 Security $164 $0.13 Miscellaneous $794 $0.63 TOTAL $32,187 $25.55 / $2.13

16 17 COMPARABLES ANALYSIS SALES COMPARABLES

PRICE/SF PRICE/SF ADDRESS SALE PRICE BUILDING SF (BLDG) LAND SF (LAND) CAP RATE SALES DATE 2399 Tapo St Mobil 2 1 18468 Burbank Blvd $3,000,000 1,000 $3,000.00 21,972 $136.54 LAC2 01/11/2019 1 18468 Burbank Blvd Tarzana, CA 91356 4 2 13131 Foothill Blvd

6 3 22295 Mulholland Dr 76 13131 Foothill Blvd $2,000,000 2,274 $1,759.01 23,967 $83.45 LAC2 07/31/2020 1 2 5 4 18050 Nordhoff St Sylmar, CA 91342 3 5 1790 E Pleasant Valley Rd

Shell 6 15303 Sherman Way 22295 Mulholland Dr $2,000,000 1,855 $1,078.17 20,038 $99.81 LCC2* 09/05/2018 3 Woodland Hills, CA 91364

SALES COMPARABLES | PRICE/SF 76 4 18050 Nordhoff St $2,000,000 1,624 $1,231.53 21,911 $91.28 C2 6/19/2019 Northridge, CA 91325 $1,954 AVG PRICE/SF(BLDG) USA Gasoline 1790 E Pleasant Valley $2,010,000 561 $3,582.89 27,438 $73.26 C2PD 05/30/2018 5 Rd Oxnard, CA 93033

Mobil 6 15303 Sherman Way $2,507,000 2,332 $1,075.04 37,997 $65.98 LAC2 12/03/2018 $88 Van Nuys, CA 91406 AVG PRICE/SF(LAND)

AVERAGE $2,252,833 1,608 $1,954.44 25,554 $88.16 - -

20 21 AREA OVERVIEW SIMI VALLEY, CA POINTS OF INTEREST

Located just minutes from , Simi Valley offers a vibrant city full of cultural diversity, historical landmarks Ronald Reagan Presidential Library and Museum and beautiful rolling hills. Los Angeles International Airport, Van Nuys Airport, and Hollywood Burbank Airport MOORARK: 7 MILES The Ronald Reagan Presidential Library is the repository of presidential records are all within 40 miles of Simi Valley and offer easy access to Simi Valley from anywhere in the world. All major from the administration of Ronald Reagan, 40th President of the United domestic airlines serve at least one of the three airports, with many offering service from all three. The charm of a States, and the burial place of the President and First Lady, Nancy Reagan. small town close to ’s most famous attractions. It is the largest of the 13 federally operated presidential libraries, containing millions of documents, photographs, films and tapes. There is a permanent exhibit covering the President’s life, as well as memorabilia such as Air Force One, the aircraft personally used by the president, and a section of masonry from the Berlin Wall. The city of Simi Valley, in the eponymous valley, is in the southeast corner of Ventura County, California, Simi Valley Cultural Arts Center United States, 40 miles (64 km) from downtown Los Since the opening in late 1995, the Cultural Arts Center has featured everything Angeles, making it part of the Greater Los Angeles from jazz and rock ‘n roll bands to classical music, dramas and musicals, and a variety of choral and dance group performances. It has been rented as a Area. The city sits next to Thousand Oaks, Moorpark, MILES 11 OAKS: THOUSAND site for weddings of all faiths as well as film shoots, vocal and dance recitals, and Chatsworth. The city's 2019 population has meetings, photography shoots, showers and private parties. been estimated at 125,851 up from 124,243 in 2010. The city of Simi Valley is surrounded by the Santa Former Corriganville Movie Ranch Susana Mountain range and the , west Corriganville Movie Ranch was a working film studio and movie ranch for of the , and northeast of the outdoor location shooting, as well as a Western-themed tourist attraction. The . It is largely a commuter bedroom ranch, owned by actor and stuntman Ray "Crash" Corrigan, is located in the foothills of the in the Santa Susana Pass area of Simi community, feeding the cities in the Los Angeles Valley in eastern Ventura County, California. The site is currently a public park area and the San Fernando Valley to the east, and in the City of Simi Valley, called Corriganville Park, and operated by Recreation and Park District. cities in Ventura County to the west. SAN FERNANDO VALLEY: 10 MILES SAN FERNANDO VALLEY: The Ronald Reagan Presidential Library, where Santa Susana Pass State Historic Park the former president was buried in 2004, is in Simi Santa Susana Pass State Historic Park is a California State Park of Valley. The Reagan Library has hosted Republican approximately 680 acres located on the boundary between Ventura and Los Angeles counties, between the communities of Chatsworth and Simi Valley. primary debates, last in 2012, and the first primary Geologically, the park is located where the Simi Hills meet the Santa Susana debates in 2016. A study done by the University of Mountains. Here in the western part of the Transverse Ranges, the land is dominated by high, narrow ridges and deep canyons covered with an abundant Vermont ranked Simi Valley as the fifth-happiest variety of plant life. The park offers panoramic views of the rugged natural city in the United States. According to crime statistics by the FBI in 2013, Simi Valley is the seventh-safest landscape as a striking contrast to the developed communities nearby. The city in the U.S. with a population of 100,000 or more. The U.S. Census Bureau of 2018 reported a median park is also rich in archaeological, historical, and cultural significance.

household income of $93,516. 25 MILES CONEJO VALLEY: 24 25 MAJOR EMPLOYERS ECONOMY EMPLOYER EMPLOYEES Simi Valley Unified School District 2,177 Simi Valley Hospital & Health Care 832 In Simi Valley there are two main areas of industry — one in the eastern part of the city and Rancho Simi Recreation & Park District 626 the other one in the west. The primary industry is machinery and tools with 69 firms, and City of Simi Valley 529 the secondary is the metal Industry with 51 firms, both situated in the eastern and western Meggitt Safety Systems, Inc. 321 industrial areas. Other industries such as Lumber/Wood Products, Food, Plastic Products, Apparel/Textiles and Minerals, are also concentrated largely in these industrial areas. McDonald’s 305 Poly-Tainer 275 WalMart 275 Simi Valley’s business community is growing continuously with over 7,500 Costco 260 enterprises ranging from accounting firms to manufacturers. The community of Milgard Manufacturing 250 Simi Valley produces an inclusive, business-friendly atmosphere that recognizes TRANSPORTATION Waste Management 230 the importance of a prosperous local economy to the community’s quality of life. Highway: Highway 118 runs through the City and connects with State Highways 23 A highly educated work-force, combined with convenient location and highly Simi Valley Family YMCA 155 and 101, Interstates 5, 405, and 210. competitive development costs, is a major attraction for many corporations to the Adventist Media Center 132 Simi Valley business community. Air: Los Angeles International Airport, 42 miles; Burbank Airport, 26 miles; Camarillo Simi Valley Care Center 119 Airport, 25 miles. In Ventura County, wage and salary employment continues to rise, with the largest American Medical Response 110 job growth in the previous year in the services industry. Manufacturing, Real Estate, Rail: Union Pacific Railroad for freight service; Amtrak and Metrolink for passenger Insurance, Trade, Transportation and Public Utilities also added thousands of new service. jobs. Simi Valley is proud to be called home to some of the country’s finest businesses Bus: The City operates a local bus system, with connections to Los Angeles County – including Alcoa Fastening Systems, Bank of America, Farmers Insurance, and Metropolitan Transportation Authority (LACMTA) and Ventura Intercity Service Transit Milgard Manufacturing. Smaller companies in related fields and many different Authority (VISTA). Taxi services are also available. suppliers to the major companies are also located in the Simi Valley area, providing a great mix of large and small operations for the community and its residents. More recent additions to the local business community include a variety of Internet and SIMI VALLEY SCHOOLS RECREATION technology companies, along with a growing number of manufacturing industries. Simi Valley Unified School District • 34 Parks Annual Enrollment 18,491 • 4 Golf Courses Simi Valley is also a haven for small business, with many hundreds of small firms, • 21 Elementary Schools • 1 Performing Arts Center stores, shops and home-based businesses that provide a wide variety of products • 3 Middle Schools • 2 Theaters (26 screens) and services. Companies considering relocating to Simi Valley will find retail, • 3 High Schools • 2 Swimming Pools office and light industrial space at reasonable rates, a modern infrastructure, • 1 Continuation High School • 1 Library (140,000 vol.) good transportation facilities, an extremely safe environment, affordable housing, • 1 Adult School excellent schools and a well-educated and motivated workforce. • 1 Independent Study School (K-12) 26 27 DEMOGRAPHICS

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES 126,546 2020 Total Population: 14,611 80,758 115,601 Total Population of Simi Valley, CA. The median age is 40.3. Population Growth 2020-2025 0.1% 0% 0% Median Age: 39.6 40.3 39.9

50% 50% 2020 Total Households: 4,810 26,499 37,804 Male Female 115,601 $117,525 EDUCATION Avg Household Size: 3 3 3 Population within 5-m radius Average HH income within 3-m radius 2020 Owner Occupied Households: 3,445 20,423 28,341

2020 Renter Occupied Households: 1,366 6,076 9,464

2020 HOUSEHOLDS BY HOUSEHOLD INCOME

< $25,000 671 2,821 3,930

$25,000 - 50,000 755 3,627 5,346 $50,000 - 75,000 643 3,327 4,956 28,341 9,464 $75,000 - 100,000 746 4,153 6,064 Owner Occupied Households Renter Occupied Households 20.3% 36.5% 23.5% 10% within 5-m radius within 5-m radius High School Graduate Some College or Associates Degree Bachelor’s Degree Master’s Degree or Higher $100,000 - 125,000 579 3,120 4,253

$125,000 - 150,000 358 2,414 3,471

$150,000 - 200,000 598 3,705 5,051

ECONOMY $200,000+ 459 3,334 4,733

The economy of Simi Valley, CA employs 65.2k people. The largest industries in Simi Valley, CA are Retail Trade (7,613 people), Manufacturing (7,505 people), and Health Care & Social Assistance (6,610 people), and the highest paying industries are Utilities ($97,802), Mining, Quarrying, & Oil & Gas Extraction ($87,941), 2020 Median Household Income $86,243 $95,921 $94,252 $95,921 3,913 and Information ($79,142). Median household income in Simi Valley, CA is $93,516. Males in Simi Valley, CA have an average income that is 1.26 times higher 2020 Average Household Income $104,870 $117,525 $116,567 Median HH income within Businesses within a 5-m than the average. 3-m radius radius

28 29 SOUTHERN CALIFORNIA'S PREMIER SALES TEAM

BRANDON MICHAELS AUSTIN SREDEN Senior Managing Director of Investments Investment Associates Senior Director, National Retail Group National Retail Group Tel: (818) 212-2794 Tel: (818) 212-2805 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] License: CA #01434685 License: CA #02023489 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com