For Sale | Trophy Mixed-Use Building with Parking Garage
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FOR SALE | TROPHY MIXED-USE BUILDING WITH PARKING GARAGE LOCATED IN THE HEART OF THE SOLANO AVE COMMERCIAL DISTRICT CLICK HERE FOR CONFIDENTIALITY AGREEMENT BROCHURE | 1820 Solano Avenue, Berkeley, CA 94707 | 35,185 SF Lockehouse Disclaimer The information contained herein is strictly confidential. It is furnished solely for the purpose of considering the acquisition of the property described herein and is not to be used for any other purpose or made available to any other person without the expressed written consent of Lockehouse Retail Group Inc. (the “Agent”). No representation is made with regard to its accuracy or completeness. Prospective investors should conduct their own investigation and reach their own conclusions without reliance on the material contained herein. Neither the Seller nor the Agent nor any of their respective officers, agents, or principals has made or will make any representations or warranties, expressed or implied, as to the accuracy or completeness of the Marketing Package or any of its contents, and no legal commitment or obligation shall arise by reason of the Marketing Package or its contents. Analysis and verification of the information contained in the Marketing Package is solely the responsibility of the prospective purchaser. The Seller and Agent expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Marketing Package or making an offer to purchase the Property unless and until such offer for the Property is approved by the Seller and any conditions to the Buyer’s obligations thereunder have been satisfied or waived. Disclaimer From Owner Prospective investors should undertake their own investigations and reach their own conclusions; analysis and verification of information contained in this listing or later verbal or written information given, is sole responsibility of prospective investor. This listing and any subsequent information may be subject to prior placement, errors, omission, changes, or withdrawal without any notice and does not constitute recommendation, endorsement, or advice as to the value of the property. David Kram Rachel Kram Tatiana Guzman Managing Director of Investment Sales Vice President of Investment Sales Investment Sales/Retail Associate (650) 445-4491 (650) 445-4490 (925) 627-7907 [email protected] [email protected] [email protected] License 01848816 License 02021048 License 02111438 EXECUTIVE SUMMARY 3 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com TROPHY MIXED-USE BUILDING 1820 Solano Avenue, Berkeley, Ca 94707 PROPERTY SUMMARY TOTAL BUILDING SF 35,185 SF GROUND FLOOR 10,984 SF SECOND FLOOR 11,165 SF GARAGE 13,036 SF YEAR BUILT 2003/2018 PARKING STALLS 31 Stalls with Monthly Rents COLUSA AVE AVE AVE COLUSA COLUSA OCCUPANCY 100% ZONING C-SO, Solano Avenue Commercial APN 061-2612-002 MODOC ST 9,746 VPD VPD 9,746 9,746 TRAFFIC COUNT Solano Ave 9,696 VPD Colusa Ave 9,746 VPD Total 19,422 VPD OFFERING SUMMARY PRICE $11,800,000 CAP RATE 5.1% SOLANO AVE 9,969 VPD NOI $604,202 PRICE / SF $335 FINANCING Free & Clear OWNERSHIP TYPE Fee Simple EXECUTIVE SUMMARY 4 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com LOCATION HIGHLIGHTS • Corner building located directly on Solano Avenue in the heart of one of Berkeley’s most iconic shopping districts • Solano Avenue is an established, pedestrian-friendly, shopping district for the North Berkeley, Albany, and El Cerrito areas • Strong demographics – 181,492 population and $131,588 AHI within a 3-mile radius • Easily accessible – regularly scheduled bus service runs up and down Solano Avenue • Unique Ownership Opportunity – long term investment in a prominent building on the corner of two of Berkeley’s busiest streets • Signalized intersection with exposure to over 19,000 vehicles per day INVESTMENT HIGHLIGHTS • 100% occupied, mixed-use building with office users above and street level retailers below, including a bakery and a fitness center • Ownership has done numerous capital expenditure improvements over the last several years • Building offers an underground parking garage, which is a valuable amenity for tenants and their customers on a busy street with minimal parking • Internal, private elevator service to all three floors with key card access to the secured, gated garage • Favorable C-SO zoning allows for a variety of uses, including retail, health & fitness, quick service food, general office and medical / healthcare SITE MAP | FIRST FLOOR 6 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com RAMP TO GARAGE SITE MAP | SECOND FLOOR 7 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com DECK Leslie Tsang M.D. & Nicole Tsang M.D CORRIDOR ELEVATOR SITE MAP | PARKING GARAGE 8 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com The building’s private parking garage is accessible from Colusa Avenue for tenants and their customers & clients. Tenants pay monthly rates for reserved parking. 31 Parking Spaces TENANT OVERVIEW 10 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com SUITE A, B-1 Anytime Fitness Anytime Fitness is a 24-hour health and fitness club headquartered in Minnesota. The company operates over 4,200 franchised locations in more than 32 countries around the world. Anytime Fitness offers personal training and classes to provide members with the tools they need to stay on track to achieve their goals. At Anytime Fitness, you’re not just joining a gym. You’re joining a supportive community of like-minded people who are here to give you the encouragement you need. SUITE C-1, 201, 202, 203 North Berkeley Wealth Management Since 2005, NBWM has helped their clients protect and grow their assets in a way that accomplishes their goals and aligns with their values. NBWM emphasizes relationships and a deep commitment to sustainability that promotes the well-being of their clients, staff, and communities. SUITE 205B, 206 Old Republic Title Headquartered in Tampa, FL, Old Republic Title Insurance Group has built a solid reputation as an industry leader and is one of the largest title insurance groups in the United States. They have a conservative financial management philosophy to maintain stability through changing tides in the real estate, lending and financial markets since 1992. SUITE D The Lavender Bakery Famous for Burnt Almont, The Lavender Bakers has been brining the finest authentic European inspired cakes and baked goods to the Bay Area since 2018. With two sister bakeries located in South Bay Silicon Valley, Lavender Bakery serves a variety of cakes, cupcakes, pies, desserts, cookies, pastries and many seasonal and occasional items. TENANT OVERVIEW 11 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com SUITE B-2 Marie Veronique Marie-Veronique Nadeau is a chemist who founded Marie Veronique in 2002. The company’s vision is to deliver superior, non-toxic skincare drawing on nature’s genius and the brain of science through innovative formulations. Achieving optimal skin health and healing real skin issues drives Marie Veronique to produce safe products that truly work. SUITE C-2 Tutu School Genevieve Weeks, Founding Director of Tutu Schools, envisioned a quaint boutique of a ballet school that would provide a creative dance education experience for children, and a place where students would be urged to fully exercise their imaginations as well as their bodies. Today, Tutu Schools is a national tenant with 34 studio franchises operating around the United States. SUITE 204 New Day Pediatrics Dr. Jaleh Niazi and her team work with families, schools, and the rest of the community to help your child realize and fulfill his/her full emotional, developmental and physical potential. New Day Pediatrics’ general approach to illnesses or issues us to follow your child’s condition closely. They try to keep procedures and medications to a minimum, but they are ready to act quickly when appropriate and remain available to follow your child with you as he/she recovers from his/her illnesses. SUITE 205 Dr. Nicole Tsang & Dr. Leslie Tsang Dr. Nicole Tsang sees primary care as an active partnership with her patients and practices the full spectrum of primary care and treats her patients, with an interest in behavioral health and muscu- loskeletal issues. Born is San Francisco and raised in the East Bay, Dr. Tsang understands the en- vironmental and workplace culture that us unique to the Bay Area. Dr. Leslie Tsang specializes in medication management and was the co-director of Behavioral Medicine for the Kaiser Permanente Napa-Solano Family Medicine residency program. LOCATION DESCRIPTION 13 1820 SOLANO AVENUE, BERKELEY, CA 94707 LOCKEHOUSE INVESTMENT SALES TEAM | www.LOCKEHOUSE.com ALAMEDA COUNTY One of 58 counties in California, Alameda County is home to over 1.5 million people living in 14 incorporated cities as well as in six unincorporated communities and rural areas throughout the 813 square miles of the County. BERKELEY, CA Berkeley is a city on the east shore of San Francisco Bay in Northern Alameda County. In California alone, there are more than 32 cities bigger than Berkeley!