PWS Laundry 994 South 1st Street, San Jose, CA 95110 $2,045,000 | 4.5% Cap Rate Renz & Renz George L. Renz, CCIM
[email protected] 408.846.1031 Summary of Salients PWS Laundry Property Highlights 994 South 1st Street, San Jose, CA 95110 List Price $2,045,000 • Net Leased Single Tenant Cap Rate 4.5% • Landlord responsible for Roof & Structure (New Roof 2019) Rent $7,667.13 Monthly | $92,005.56 Annually • Rare 20% Rent Increases every 5 years • Roof Replacement in 2019 Rent Increases Rare 20% every 5 years • Reasonable Rent Zoning M1 • Major improvements made by Tenant Building Size 4,625 SqFt • 8 years Remaining on Lease Lot Size 6,098 SqFt PWS Laundry | 994 South 1st Street, San Jose, CA 95110 Tenant Overview Tenant Summary About PWS, Inc. PWS, Inc. operates as a distributor, developer, and broker to the commercial laundry industry. It sells commercial laundry parts and Tenant Trade Name PWS Laundry replacement parts; laundry carts and baskets, trucks, detergents and soaps, scales, cart and truck accessories, hampers and racks, bags, Current Rent $7,667.13 Monthly | $92,005.56 Annually and miscellaneous laundry supplies; and laundromat furniture and Landlord Responsibilities Roof & Structure signs. The company also sells new and existing laundromat equip- ment, multi-housing laundry equipment, on-premise laundry equip- Lease Comencement Date 2006 ment, used commercial laundry equipment, and coin changers. In Term Remaining on Lease 8 years addition, it offers remodeling, design, and build-to-suit services; and equipment sales, financing, leasing, and revenue sharing services Rental Increases 20% Increase with each Option exercised for laundry and equipment purchases.