Gold Country Center Raley’S Anchored Shopping Center
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gold country center Raley’s anchored shopping center Fully leased grocery anchored shopping center in northern California [ www.CapitalPacific.com ] 777 CA-49, Jackson, CA 95642 Click for Map nt hi me ghl st ig FULLY LEASED GrocerY ANCHORED SHoppinG CENTER e h v t n s IN DESIRABLE NORTHERN CALIFORNIA. i PRICE: $10,375,000 Gold Country Center is located in the historic city of Jackson, CA, the seat of Amador County and a gateway city to the Sierras. Jackson NOI: $746,644 is a popular “weekend” town for festivals, antiquing, and for those CAP: 7.20% exploring its historical significance to California’s gold rush. The property is located on Highway 49, the main arterial that runs north/south through the foot hills of the Sierras. PRICE PER SF ...........$153.33 RENTABLE SF ...........67,665 SF The shopping center has a large regional draw from various small villages in the Sierra Nevada region of Northern California. It was built LAND AREA .............9.23 AC in 1999 and has been fully occupied with the original tenants since it OCCUpaNCY ............100% construction. The shopping center is anchored by a 62,625 SF Raley’s, YEAR BUILT .............1999 which is the dominant full-service grocery store in the trade area. TENANTS ............. Raley’s, Allied The property is located on 9.23 acres and has a total of 325 parking Cash Advance, Payless ShoeSource, & spaces (parking ratio of 4.8/1000). The center has excellent signage on Papa Murphy’s Highway 49 and is above grade from street level with strong visibility. Additional NAP single tenant properties are located within the center and all contribute to the CAM fund. Listing Team Contact Info Capital Pacific collaborates. Dave lucas Click Here to meet the rest of our San Francisco team. [email protected] | (415) 274-7390 CA BRE# 01389761 chris kostanecki [email protected] | (415) 274-2701 CA BRE# 01002010 GOLD COUNTRY CENTER | 2 Core characteristics FULLY LEASED GROCERY ANCHORED CENTER Gold country center is 100% leased to raley’s, papa Gold Country Shopping Center is currently 100% occupied by Raley’s and Murphy’s, allied cash advance , & payless shoe source three other nationally branded tenants. Raley’s and Payless ShoeSource are corporate leases and Papa Murphy’s and Allied Cash Advance are large franchisee operators. Raley’s has been the grocery anchor since the center was constructed in 1999 and occupies 62,625 SF. Raley’s lease expires 6/29/24 STRONG AREA RETAILERS and has five 5-year options remaining. The subject property is located adjacent to a CVS/Cost Less Food anchored shopping center. Other retailers in immediate proximity include Tractor LONG TERM TENANTS Supply, Regal-Cinemas Jackson, KFC, Taco Bell, & Subway. All of the tenants have been in the center since it was developed in 1999. Payless ShoeSource, Allied Cash Advance, and Papa Murphy’s have all LARGE REGIONAL DRAW extended their original lease terms. Raley’s is still operating on their original The shopping center has a large regional pull from various small villages in 25-year lease term. the Sierra Nevada region of Northern California. CLEAN PHASE 1 EXCELLENT VISIBILITY & ACCESS A Phase 1 was performed in 2007 and cited no RECs on the subject property. There is a large monument sign for the center on Highway 49. Highway 49 Capital Pacific was also able to verify with the original developer that the site has average daily traffic counts of 18,500. There is a stop light controlling was raw land prior to development and no high risk environmental tenants traffic into the shopping center. had occupied any of the suites in the center since construction. A new Phase 1 assessment is likely to come back with a ‘no further investigation’ CURRENT FINANCING recommendation. The shopping center would be offered free and clear. GOLD COUNTRY CENTER | 3 photos gold country center benefits from excellent signage on highway 49 subject property is located adjacent to a high volume tractor supply store GOLD COUNTRY CENTER | 4 aerial SUBJECT PROPERTY IS directly OFF state ROUTE 49, THE MAIN retail CORRIDOR IN JACKSON, CA 49 104 Ridge Road 49 SACRAMENTO Independence High School WESTOVER 104 FIELD JACKSON RANCHERIA CASINO RESORT Jackson Jr. Pioneer High School Elementary 88 88 AMADOR PLAZA 49 Argonaut High School 88 Jackson Elementary JACKSON CREEK PLAZA Clinton Road 49 GOLD COUNTRY CENTER 18,500 DAILY GOLD COUNTRY CENTER | 5 jackson aerial SUBJECT PROPERTY IS ACROSS FROM A REGAL CINEMAS - THE only MOVIE THeatre IN AMADOR COUNTY. Jackson Jr. Pioneer High School Elementary Hoffman Street Jackson Elementary DOWNTOWN JACKSON 88DOWNTOWN JACKSON 88 HEIN & COMPANY GOLDEN ANCHOR TATTOO BIGGEST LITTLE KITCHEN STORE ANTIQUES MOTHER LODE DELI & FULL CIRCLE TRADING 49 JB’S TUXEDO RENTALS CATERING TRADER STAN’S MAIN STREET DESIGNS ROSEBUD’S CAFE CRUCIBLE JEWELRY SUE’S SHOPPE FAT FREDDY’S HOT DOGS MAIN STREET COLLECTIBLES MAYNARD’S COLLECTIBLES FARGO CLUB GOLD NINE JEWELERS LADY’S FIRST EMERALD FOREST MAIN EVENT BAR HEAVEN & EARTH ANTIQUES TRAIN TOWN CANDIES TREASURE’S MERCANTILE STANLEY’S STEAKHOUSE Mission Boulevard SWENSEN’S SHOES VOLCANO GLASS WORKS NATIONAL HOTEL JACKSON RANCHERIA CASINO RESORT JACKSON CREEK PLAZA Clinton Road 49 ® 18,500 DAILY GOLD COUNTRY CENTER 49 49 SACRAMENTO GOLD COUNTRY CENTER | 6 Income & expense Current New Debt Price: $10,375,000 New Loan Amount $7,262,500 $3,112,500 Capitalization Rate: 7.20% Interest Rate 4.35% Price Per Square Foot: $153.33 Amortization 25 Year Down Payment 30% $3,112,500 Term 10 Year Loan Amount 70% $7,262,500 Net Operating Income $746,644 Total Leased (SF): 100.00% 67,665 Debt Service ($477,018) Total Pending (SF): 0.00% 0 Pre-Tax Cash Flow $269,626 Total Rentable Area (SF): 100.00% 67,665 Debt Coverage Ratio (1.57) INCOME Per Square Foot Cash-on-cash Return 8.66% Scheduled Rent $11.49 $777,518 Principal Reduction $164,350 CAM/Insurance/Admin Recovery (2015 Actual) $1.52 $102,626 Total Return 13.94% Real estate tax/Admin Recovery (2015 Actual) $1.09 $73,910 Ancillary Income (2016 Budget) $0.27 $18,561 EFFECTIVE GROSS INCOME $972,615 Vacancy Reserve (5% of base rent excl Raleys) 5.00% ($6,122) ADJUSTED GROSS INCOME $966,493 EXPENSES (2015 Actual) Per Square Foot NEW FINANCING/ FLOW CASH Taxes -$0.97 ($65,343) Insurance -$0.12 ($8,115) Repairs & Maintenance -$1.49 ($100,935) Management Fees (3.0%) -$0.57 ($38,689) Capital Expendture Reserve -$0.10 ($6,767) TOTAL OPERATING EXPENSES -$3.25 ($219,849) NET OPERATING INCOME $746,644 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. Buyer must verify the information and bears all risk for any inaccuracies. [ REPRESENTATIVE PHOTO ] GOLD COUNTRY CENTER | 7 Rent roll TENANT INFO LEASE TERMS RENTAL RATES RECOVERY Current Monthly Yearly Monthly Yearly Tenant SQ. FT. Term 2015 Recovery Rent Rent Rent Rent/Ft Rent/Ft Raley's 62,625 6/3/97 6/29/24 $655,077 $54,590 $655,077 $0.87 $10.46 $109,874 Option 1 6/30/24 6/29/29 $54,590 $655,077 $0.87 $10.46 Option 2 6/30/29 6/29/34 $54,590 $655,077 $0.87 $10.46 Option 3 6/30/34 6/29/39 $54,590 $655,077 $0.87 $10.46 Option 4 6/30/39 6/29/44 $54,590 $655,077 $0.87 $10.46 Option 5 6/30/44 6/29/49 $54,590 $655,077 $0.87 $10.46 Allied Cash Advance 1,200 2/6/01 4/30/16 $38,304 $3,192 $38,304 $2.66 $31.92 $8,480 Payless ShoeSource 2,520 11/31/98 4/30/19 $52,920 $4,410 $52,920 $1.75 $21.00 $19,271 5/1/17 4/30/18 $4,542 $54,508 $1.80 $21.63 5/1/18 4/30/19 $4,679 $56,143 $1.86 $22.28 Papa Murphys 1,320 5/31/00 4/30/21 $31,217 $2,601 $31,217 $1.97 $23.65 $11,810 5/1/17 4/30/18 $2,679 $32,153 $2.03 $24.36 5/1/18 4/30/19 $2,760 $33,118 $2.09 $25.09 5/1/19 4/30/20 $2,843 $34,112 $2.15 $25.84 5/1/20 4/30/21 $2,928 $35,135 $2.22 $26.62 Big O Tires (NAP) $3,687 Armstrong Trust (NAP) $4,442 KKP Properties (NAP) $8,945 Jackson Tractor Supply (NAP) $10,028 Current Total 67,665 100.00% $777,518 Total Yearly Rent Leased Total 67,665 100.00% $64,793 Total Monthly Rent Total Recovery $176,536 Vacant Total 0 0.00% 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. Buyer must verify the information and bears all risk for any inaccuracies. GOLD COUNTRY CENTER | 8 [ REPRESENTATIVE PHOTO ] [ REPRESENTATIVE PHOTO ] Site plan SITE PLAN KEY DRIVEWAY FOR ParceL OUTLINE: SUBJECT PROPERTY RentabLE AREA: 67,665 SF INGRESS/EGRESS: RET AIL SHOPS (NAP) Clinton Road GOLD COUNTRY AUTO CLINIC (NAP) 18,500 DAILY 18,500 49 (NAP) This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.