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San Bernardino, Ca 92405 3144-3166 525-541 N. E Street & W. Marshall Blvd SAN BERNARDINO, CA 92405 A UNIQUE OPPORTUNITY TO ACQUIRE A SIGNALIZED CORNER VALUE-ADD 31,520 SQUARE FOOT SHOPPING CENTER SITUATED ON 2.73 ACRES OF LAND PRICED SIGNIFICANTLY BELOW SOUTHERN CALIFORNIA'S PREMIER SALES TEAM REPLACEMENT COSTS IN SAN BERNARDINO, CA INVESTMENT ADVISORS TABLE OF CONTENTS 1 PROPERTY OVERVIEW BRANDON MICHAELS MATTHEW LUCHS ANDREW LEFF Senior Managing Director of Investments First Vice President Investments First Vice President Investments Senior Director, National Retail Group National Retail Group National Retail Group Tel: (818) 212-2794 Tel: (818) 519-1429 Tel: (818) 519-1429 2 FINANCIAL ANALYSIS Fax: (818) 212-2710 Fax: (818) 212-2710 Fax: (818) 212-2710 [email protected] [email protected] [email protected] License: CA #01434685 License: CA #01948233 License: CA #01948233 www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com www.BrandonMichaelsGroup.com 3 AREA OVERVIEW Steven Schechter Ben Brownstein Austin Sreden Sean Brandt First Vice President Senior Associate Investment Associate Investment Associate Investments Lauren Sackler Nicole Cottrell Zachary Saloff Vaughn Brown Investment Associate Investment Associate Investment Associate Investment Associate 2 3 PROPERTY OVERVIEW 4 5 3144-3166 525-541 N. E Street & W. Marshall Blvd EXECUTIVE SUMMARY SAN BERNARDINO, CA 92405 3144-3166 N. E Street & 525-541 West Marshall Boulevard offers a unique opportunity to acquire a signalized corner value-add 31,520 square foot shopping center situated on 2.73 acres of land priced significantly below replacement costs in San Bernardino, CA. The Brandon Michaels Group of Marcus & Millichap has been selected to exclusively represent for sale 3144-3166 N. E Street & 525-541 W. Marshall Boulevard, a 31,520 square foot multi-tenant strip center situated on 118,800 square feet of land on the NW signalized corner of North E Street and Marshall Boulevard in San Bernardino, CA. 3144-3166 N. E Street & 525-541 W. Marshall Boulevard is a value-add shopping center this is currently 83% vacant. The center runs from North E Street to Acacia Avenue, and benefits from excellent frontage, visibility, and access from its three surrounding streets. The property features 143 surface parking spaces, a parking ratio of 4.54 per 1,000. The center is currently 17% occupied, creating an excellent value-add opportunity for an investor to stabilize the property an increase cashflow dramatically or creates a unique opportunity for an owner-user to occupy a portion of the property and take advantage of historically los SBA interest rates. Of its current 17% occupancy, current tenants include a donut shop, speedy wash, liquor store, and storage. Marshall’s Donuts is a highly rated local favorite, which serves everything from Donuts to ice cream and boba. 3144-3166 N. E Street & 525-541 W. Marshall Boulevard is located proximate to several retail amenities such as Starbucks, McDonald’s, T.J. Maxx, Stater Bros. Markets, AutoZone Parts, and Walgreens. The in-line units are ideal in size, averaging 1,126 square feet. These units are easily leasable with minimal tenant improvement costs required. There is a dark 22,000 square foot box that was formerly occupied by a supermarket. The center is situated in a dense location within San Bernardino county, with over 300,000 people located within five miles of the property. San Bernardino is a historic county, and is the largest county in the United States, which spans 20,102 square miles. 31,520 SF Strip Center 118,800 SF of Land 143 Parking Spaces Value-Add Shopping Center Signalized Corner Location Parking Ratio of 4.54/1,000 6 7 3144-3166 525-541 LOCATION OVERVIEW N. E Street & W. Marshall Blvd Downtown San Bernardino 3144-3166 N. E Street & 525-541 W. Marshall Boulevard is located in San SAN BERNARDINO, CA 92405 Bernardino county, the largest county in the United States, spanning 20,102 square miles. 3144-3166 N. E Street & 525-541 W. Marshall Boulevard is located in San Bernardino city, which as of 2019 was the 17th largest city in California, and the 102nd largest city in the United States. The city of DELMAN San Bernardino is located within San Bernardino County, the largest county by area in the contiguous United States. MUSCUPIABE The City of San Bernardino went through a massive overhaul of its plan for Downtown San Bernardino in 2009, backed by the Economic Development Agency of San Bernardino, referred to as the San Inland Center Bernardino Downtown Vision & Action Plan. The San Bernardino Downtown Vision & Action Plan is a development and reuse plan for the 48.2-acre Carousel District site in Downtown San Bernardino. The goal of the development is to serve as a catalyst for San Bernardino, which would act upon the pre- W 30TH ST existing foot traffic from the California Theater and Regal Cinema. The property is located proximate to a number of retail amenities, such as Stater Bros. Markets, AutoZone Auto Parts, Walgreens, and T.J. Maxx. The property is also located proximate to number of restaurants, such as Starbucks, McDonalds, Jack in the Box. 3144-3166 N. E Street & 525-541 W. Marshall Boulevard is located in a submarket which features dense demographics within several miles of the property, with over 18,200 people located within one mile of California State University, San Bernardino the property, 158,700 within three miles, and 301,600 within five miles. There are over 5,700 households located within one mile of the property, 45,200 within three miles of the property, and 82,827 within five N E ST W MARSHALL BLVD miles of the property. Average household income within one mile of the property is over $61,500, $55,600 within three miles, and $58,000 within five miles. 16,000+ CPD 5,746 Households 3,498 Businesses Traffic Counts at the Intersection Within 1-Mile Radius Within 3-Mile Radius 8 9 3144-3166 525-541 3144-3166 525-541 N. E Street & W. Marshall Blvd N. E Street & W. Marshall Blvd SAN BERNARDINO, CA 92405 SAN BERNARDINO, CA 92405 INVESTMENT HIGHLIGHTS INVESTMENT HIGHLIGHTS VALUE-ADD MULTI-TENANT SHOPPING CENTER UNIQUE VALUE-ADD OR OWNER USER SAN BERNARDINO LOCATION WITH PROXIMATE DENSE DEMOGRAPHICS WITHIN SEVERAL WITH STRONG UNDERLYING FUNDAMENTALS OPPORTUNITY RETAIL AMENITIES MILES OF THE PROPERTY • Signalized Corner Location • The property is currently 83% vacant, creating significant rental • The property is located proximate to Stater Bros. Markets, • 18,200 people are located within one mile of the property, upside through stabilization AutoZone Auto Parts, Walgreens, and T.J. Maxx 158,700 within three miles, and 301,600 within five miles • 2.73 acres of land • The vacant spaces vary in size from 600 square feet to 22,000 • The property is also located proximate to a number of • There are over 5,700 households located within one mile of the • Excellent access from three streets square feet, allowing an owner-user the opportunity to occupy a restaurants including Starbucks, McDonalds, Jack in the Box property, 45,200 within three miles of the property, and 82,827 • Exceptional frontage and visibility along three streets wide range of units and square footages • Dark 22,000 square foot box formerly home to a supermarket within five miles of the property • 143 parking spaces; 4.54 parking spaces per 1,000 SF • Small in-line units are easily leasable with minimal tenant • Average household income within one mile of the property is improvement costs over $61,500, $55,600 within three miles, and $58,000 within • Small in-line unit sizes average 1,126 square feet five miles • Dark 22,000 square foot box formerly home to a supermarket • Excellent parking improves the potential tenant mix 10 11 3144-3166 525-541 PROPERTY HIGHLIGHTS N. E Street & W. Marshall Blvd PROPERTY DETAILS SAN BERNARDINO, CA 92405 3144-3166 N. E STREET & 525-541 WEST MARSHALL SITE BOULEVARD, SAN BERNARDINO, CA 92405 The subject property is at the intersection of N. E Street and W. Marshall Boulevard. PRICE: $2,800,000 SQUARE FOOTAGES BUILDING SF: 31,520 SF The building square footage is 31,520 square feet. The total land LAND SF: 118,800 SF square footage is 118,800 square feet. PRICE/SF (BUILDING): $89 PARKING PRICE/SF (LAND): $24 The property features 143 surface parking spaces. The parking ratio is 4.54 per 1,000 SF. OCCUPANCY: 17% APN NUMBERS PARKING: 143 Parking Spaces; Ratio of 4.54/1,000 SF The APN numbers are 0152-162-25, 0152-162-26, 0152-162-27 and FOOTAGE: 273' on N E St 0152-162-28. ZONING: CG-1, San Bernardino ZONING APN NUMBER: 0152-162-25, -26, -27, -28 The zoning is CG-1, San Bernardino. 12 13 FINANCIAL ANALYSIS 14 15 FINANCIAL ANALYSIS RENT ROLL PRICING PRO FORMA PRO FORMA ADDRESS UNIT SF SF % LEASE EXP OPTIONS RENT RENT/SF RENT RENT/SF 3144 N E St Marshall Donut 1700 5% 21-Feb N/A $3,650.00 $2.15 $3,650.00 $2.15 3144-3166 N. E Street & 3148 N E St Vacant 2400 7% $2,040.00 $0.85 ADDRESS: 525-541 West Marshall Boulevard, San Bernardino, CA 92405 3150 N E St Vacant 600 2% $690.00 $1.15 3154 N E St Vacant 630 2% $724.50 $1.15 PRICE: $2,800,000 3156 N E St Vacant 630 2% $724.50 $1.15 3158 N E St Speedy Wash 1500 5% M2M N/A $1,600.00 $1.07 $1,600.00 $1.07 BUILDING SF: 31,520 SF 3160 N E St Vacant 600 2% $690.00 $1.15 3162 N E St Vacant 800 2% $920.00 $1.15 LAND SF: 118,800 SF 3166 N E St Storage 800 2% 22-Feb N/A $900.00 $1.13 $920.00 $1.15 PRICE/SF (BUILDING): $89 525 W Marshall P&J Liquor 1600 5% 22-Feb 1 Option $4,500.00 $2.81 $4,500.00 $2.81 541 W Marshall Vacant 22000 66% $16,500.00 $0.75
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