OFFERING MEMORANDUM BLACK DIAMOND TAVERN 42172 MOONRIDGE ROAD, BIG BEAR LAKE BLACK DIAMOND TAVERN BIG BEAR LAKE, CALIFORNIA NON-ENDORSEMENT & DISCLAIMER NOTICE CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving 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 information 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 a 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 contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial 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 believe 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 Marcus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence 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 purpose of providing tenant lessee information about this listing to prospective customers. Activity ID: XXXXXX ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. OFFICES THROUGHOUT THE U.S. AND CANADA www.marcusmillichap.com EXCLUSIVELY LISTED BY Paul Bitonti First Vice President Investments Newport Beach, CA Direct: (949) 419-3246 Mobile: (714) 267-8582 License: CA 01325076 [email protected] TABLE OF CONTENTS 02 01 PROPERTY DESCRIPTION // XX 03 EXECUTIVE SUMMARY // XX FINANCIAL ANALYSIS // XX 04 06 RENT COMPARABLES // XX MARKET OVERVIEW // XX 05 SALES COMPARABLES // XX This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap section 1 Executive Summary offering summary summary of terms investment overview investment highlights OFFERING SUMMARY 42172 MOONRIDGE ROAD, BIG BEAR LAKE, CA Asking Price $2,000,000 Gross Square Feet 8,280 SF Number of Buildings 3 Number of Stories 2 Property Type Mixed-Use Year Built/Renovated 1987/2018 Lot Size 1.30 AC Zoning C-2 Commercial - General 8 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS • Big Bear Lake, California • Real Estate and High Performing Restaurant • 2 Apartments and 16 Storage Units • 1.30 Acre Parcel • Well-located Real Estate - Foot of Big Bear Ski Resort • Very Large Parking Field • Owner User Investment EXECUTIVE SUMMARY 9 10 EXECUTIVE SUMMARY BLACK DIAMOND TAVERN 42172 MOONRIDGE ROAD, BIG BEAR LAKE, CA Marcus and Millichap is pleased to present Black Diamond restaurant and tavern a mixed use property located at the foot of Big Bear Mountain Lake and resort. The offering consists of an operational restaurant and real estate which includes 2, 1 bedroom 1 bath apartments, 16 storage units and a 3,850 square foot operating restaurant building located on 1.30 acre parcel. Big Bear is home to Southern California’s largest recreation lake and ski resort that receives more than 7 million visitors every year. During winter season Big Bear Lake becomes the most popular skiing and snowboarding destination for Southern California. There are two ski resorts: Snow Summit and Bear Mountain. The primary summer attraction in Big Bear are fishing, hiking, mountain biking and horse riding. Big Bear Lake is experiencing significant changes that will grow its appeal as a visitor destination for the next decade. Bear Mountain and Snow Summit, along with Mammoth Mountain and June Mountain, were acquired in 2017 by The Aspen Skiing Co. - KSL Capital Partners, forming a new alliance named Alterra Mountain Co. who is expected to rival Vail Resorts as each controls about a dozen ski resort across the country. The Big Bear Alpine Zoo is moving to a new $8.5 Million home to open early Spring 2019. The Southern California Mountains Foundation is working on a master trail plan that will add 10 miles of trails every year for 10 years. The Moonridge Road/Rathburn Corridor plan is in progress to revitalize Moonridge Road and connect trail systems. EXECUTIVE SUMMARY 11 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap section 2 Property Description the property local and regional maps site plan amenities 11/2/2018 Google Maps 14 PROPERTY DESCRIPTION Map data ©2018 Google 2 mi https://www.google.com/maps/@34.2339327,-117.2134974,11z 1/1 11/2/2018 Google Maps PROPERTY DESCRIPTION 15 Map data ©2018 Google 2 mi https://www.google.com/maps/@34.2339327,-117.2134974,11z 1/1 PLAT MAP Tax Map 42172 Moonridge Rd, Big Bear Lake, CA 92315 Limitation of Liability for Informational Report IMPORTANT – READ CAREFULLY:THIS REPORT IS NOT AN INSURED PRODUCT OR SERVICE OR A REPRESENTATION OF THE CONDITION OF TITLE TO REAL PROPERTY. IT IS NOT AN ABSTRACT, LEGAL OPINION, OPINION OF TITLE, TITLE INSURANCE COMMITMENT OR 16 PROPERTYPRELIMINARY DESCRIPTION REPORT, OR ANY FORM OF TITLE INSURANCE OR GUARANTY. THIS REPORT IS ISSUED EXCLUSIVELY FOR THE BENEFIT OF THE APPLICANT THEREFOR, AND MAY NOT BE USED OR RELIED UPON BY ANY OTHER PERSON. THIS REPORT MAY NOT BE REPRODUCED IN ANY MANNER WITHOUT FIRST AMERICAN’S PRIOR WRITTEN CONSENT. FIRST AMERICAN DOES NOT REPRESENT OR WARRANT THAT THE INFORMATION HEREIN IS COMPLETE OR FREE FROM ERROR, AND THE INFORMATION HEREIN IS PROVIDED WITHOUT ANY WARRANTIES OF ANY KIND, AS-IS, AND WITH ALL FAULTS. AS A MATERIAL PART OF THE CONSIDERATION GIVEN IN EXCHANGE FOR THE ISSUANCE OF THIS REPORT, RECIPIENT AGREES THAT FIRST AMERICAN’S SOLE LIABILITY FOR ANY LOSS OR DAMAGE CAUSED BY AN ERROR OR OMISSION DUE TO INACCURATE INFORMATION OR NEGLIGENCE IN PREPARING THIS REPORT SHALL BE LIMITED TO THE FEE CHARGED FOR THE REPORT. RECIPIENT ACCEPTS THIS REPORT WITH THIS LIMITATION AND AGREES THAT FIRST AMERICAN WOULD NOT HAVE ISSUED THIS REPORT BUT FOR THE LIMITATION OF LIABILITY DESCRIBED ABOVE. FIRST AMERICAN MAKES NO REPRESENTATION OR WARRANTY AS TO THE LEGALITY OR PROPRIETY OF RECIPIENT’S USE OF THE INFORMATION HEREIN. Tax Map 42172 Moonridge Rd, Big Bear Lake, CA 92315 11/2/2018 Page 1 (of 1) ©2005-2018 First American Financial Corporation and/or its affiliates. All rights reserved. PROPERTY DESCRIPTION PROPERTY DESCRIPTION 42172 Moonridge Road Address Big Bear Lake, CA Lot Size 1.30 AC Gross Leasable Area 8,280 SF Year Built/Renovated 1987/2018 Parcel 2328-202-06 Zoning C-2 Commercial - General CONSTRUCTION Number of Stories INSERT SITE PLAN Type of Ownership Fee Simple Topography Flat Foundation Concrete Framing Wood Exterior Stucco Parking Surface Asphalt Roof Composite MECHANICAL Utilities Gas, Electric and Water PROPERTY DESCRIPTION 17 Big Bear Lake Water Department Big Bear Lake Library City of Big Bear Lake Public Works Bear Valley Home of The Hangover Church Moonridge Fuel Goldsmith’s Big Bear Blvd Twin Bear Sports 30,000 Daily Traffic Party Rentals The Grind & Grill Cafe Moonridge Rd 18 PROPERTY DESCRIPTION Big Bear Airport Big Bear Lake Snow Summit Moonridge Rd Ski Resort Bear Mountain Ski Resort PROPERTY DESCRIPTION 19 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.