308 W Verdugo Ave 308 W Verdugo Ave Burbank, CA 91502 For more information contact: Cindy Hill, CCIM Senior Vice President 818.846.1611 [email protected] 00885625 Mark Maccalupo Senior Associate 818.432.1601 [email protected] 01930952 ● Legendary Production Office Building located in the Media Capital of the World ● Sale Includes: Production Office with 16,500 Sqft on a 21,522 Sqft Gated Lot with approximately 24 Parking Spaces ● Current Tenants Paying Above Market Rents Until October 31, 2017; Improvements On-Site as Recent as 2016 ● Priced to Sell at $5,100,000 | $309 per Sqft! ● This property can be purchased with or without an additional parking lot with appx 24 spaces on Victory Blvd zoned C-4 Phone: 818-432-1500 ● Fax: 818-432-1501 ● 4061 Laurel Canyon Blvd. ● Studio City, CA 91604 ● www.valleyapartmentsales.com 308 W Verdugo Ave Burbank, CA 91502 REAL ESTATE INVESTMENT Analysis Analysis Date June 2017 Property Property 308 W Verdugo Ave Property Address 308 W Verdugo Ave Burbank, CA 91502 Year Built 1980 Purchase Information Financial Information Property Type Commercial All Cash Purchase Price $5,100,000 Tenants 1 Total Rentable Sq. Ft. 16,500 Loans Type Debt Term Amortization Rate Payment LO Costs All Cash Income & Expenses Contact Information Gross Operating Income $648,888 Cindy Hill, CCIM Monthly GOI $54,074 818.846.1611 Total Annual Expenses ($84,890) [email protected] Monthly Expenses ($7,074) 00885625 Mark Maccalupo 818.432.1601 [email protected] 01930952 p. 2 All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. 308 W Verdugo Ave Burbank, CA 91502 EXECUTIVE SUMMARY ACQUISITION COSTS Purchase Price, Points and Closing Costs $5,100,000 Investment - Cash $5,100,000 INVESTMENT INFORMATION Purchase Price $5,100,000 Price per Tenant $5,100,000 Price per Sq. Ft. $309.09 INCOME, EXPENSES & CASH FLOW Gross Scheduled Income $648,888 Total Vacancy and Credits $0 Operating Expenses ($84,890) Net Operating Income $563,998 Debt Service $0 Cash Flow Before Taxes $563,998 FINANCIAL INDICATORS Cash on Cash Return Before Taxes 11.06% Debt Coverage Ratio N/A Capitalization Rate 11.06% Gross Income / Square Feet $39.33 Gross Expenses / Square Feet ($5.14) Operating Expense Ratio 13.08% p. 3 All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. 308 W Verdugo Ave Burbank, CA 91502 PRO FORMA SUMMARY INCOME Actual Per SF Market Per SF Gross Potential Rent $564,000 $34.18 $366,300 $22.20 Less: Vacancy $0 $0.00 $0 $0.00 Misc. Income $84,888 $5.14 $84,888 $5.14 Effective Gross Income $648,888 $39.33 $451,188 $27.34 OPERATING EXPENSES Actual Per SF Market Per SF Building Insurance $6,765 $0.41 $6,765 $0.41 Taxes - Real Estate $78,125 $4.73 $78,125 $4.73 Total Expenses ($84,890) ($5.14) ($84,890) ($5.14) Net Operating Income $563,998 $34.18 $366,298 $22.20 p. 4 All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. 308 W Verdugo Ave Burbank, CA 91502 PRO FORMA SUMMARY TENANT MONTHLY SCHEDULED INCOME Tenant Actual Market Original Productions $47,000 $30,525 TOTALS $47,000 $30,525 ANNUALIZED INCOME Actual Market Gross Potential Rent $564,000 $366,300 Less: Vacancy $0 $0 INVESTMENT SUMMARY Misc. Income $84,888 $84,888 Price: $5,100,000 Effective Gross Income $648,888 $451,188 Year Built: 1980 Less: Expenses ($84,890) ($84,890) Net Operating Income $563,998 $366,298 Tenants: 1 RSF: 16,500 Price/RSF: $309.09 ANNUALIZED EXPENSES Lot Size: 32,281 sf Actual Market Floors: 2 Building Insurance $6,765 $6,765 APN: 2451-022-032 Taxes - Real Estate $78,125 $78,125 Cap Rate: 11.06% Market Cap Rate: 7.18% Total Expenses $84,890 $84,890 Expenses Per RSF $5.14 $5.14 Misc. Income represents Tenants NNN Payment of Property Taxes and Insurance. p. 5 All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. 308 W Verdugo Ave Burbank, CA 91502 PROPERTY DESCRIPTION Legendary Production Location Media Capital of the World KW Commercial is pleased to represent the sale of the Legendary Production Office that created the new chapter and cultural phenomena of Docudrama TV. 308 W Verdugo has has been the Headquarters to Original Productions, where Emmy Nominated and Emmy Awarded titles including Deadliest Catch, Axmen, Storage Wars, Monster Garage, Ice Road Truckers, Biker Build-off, Jay Leno's Garage and 1000 Ways to Die were created. Legends in the TV and Film industry have walked these halls, Voice Overed in its Studios and finaled countless hours of programming in its Edit Bays along the 'Green Mile'. The Offering includes the 2 story 16,500 Sqft building (APN 2451-022-032) on a gated and secured lot of 21,522 Sqft with approximately 24 parking spaces. The site location is Zoned C-4 in the City of Burbank. The current tenants are on a NNN lease due to expire at the end October 31,2017 and are paying $47,000 per month a plus Taxes, Insurance and Maintenance. The Property is in excellent condition and has had upgrades and improvements as recent as last year. Buyers looking for an Owner / User space can take advantage of this above market lease rate and immediately recapture a portion of their investment with a quick close. Property can be purchased with or without additional 10,729 Sqft Parking Lot, Appx 24 spaces on Victory Blvd, Zoned C-4 (Additional Lot Priced at $1,100,000). Building Details Based on Current Use: 25 Offices 7 Studio / Office 4 Executive Offices 2 Conference Rooms 3 Large Open Work Areas 14 Edit Bays 5 Recording Studio & 1 Voice Over Booths 7 Bathroom 1 Kitchen 1 Reception 5 Storage/ Vaults & 1 Electrical Room p. 6 All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. 308 W Verdugo Ave Burbank, CA 91502 PROPERTY PHOTOS Front Entrance Side Entry W Verdugo Reception Conference Open Staff Lounge Area Kitchen p. 7 All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein. 90804 | PLAN RR 2ND FLOOR DATE PLAN SCALE SHEET of 6 | " = 1'-0" STREET PROJECT 14240 4/24/17 APPROVED BY ER 16 1 3 VERDUGO All plans created by Precision Property civil engineering (Cal. Bus. & Prof. Code addition, PPM services and plans do not negligence. Measurements should be field arising out of such use. Furthermore, PPM (Cal. Bus. & Prof. Code §§8726-8727). In confirmed before commencing construction. for landscaping purposes (Cal. Bus. & Prof. FLOOR PLAN shall not be held liable for any damages or they are specifically intended, PPM shall not THOM BEERS used for any studies or activities defined as used for reasons other than those which constitute civil engineering (Cal. Bus. & Prof. Measurement Ltd "PPM" are made exclusively in our plans. In the event that plans are Code §§6702-6704), and thus should not be and as such do not constitute land surveying ensure the accuracy of information found be held liable for any damages or claims involve the determination of any property line, 308 WEST VERDUGO §6731). PPM makes every reasonable effort to any claims arising out of the use our plans unless such damage or claim is caused by our Code §8727). All plans created by PPM do not BURBANK, CA 91502 STREET PROJECT A BETTER BETT T 562.621.9100 WWW.PPMCO.NET PREPARED FOR PROJECT TYPE PROJECT NAME PROJECT ADDRESS 3626 E. PACIFIC COAST PRECISION PROPERTY MEASUREMENTS F 888.698.2966 HIGHWAY LONG BEACH CA 20'-3" 10'-6" 16'-3" 6'-7" 9'-3" I-BM ENTRY 9'-7" OFFICE B 4 16'-5" 11'-0" OFFICE 19'-8" ELECTRICAL 9'-9" OFFICE UP 159" OFFICE 11'-10" 4'-1" 7'-10" 5'-6" 2'-5" 3'-11" 15'-2" 4'-4" 8'-5" 8'-5" STUDIO STUDIO OFFICE OFFICE 9'-6" 3'-0" 7'-2" OFFICE OFFICE 4'-5" 10'-11" RESTROOM 3'-11" 10'-6" 10'-5" 7'-8" 9'-2" 9'-4" 6'-4" 7'-11" W/D 13'-4" 8'-5" 8'-5" STUDIO 7'-0" OFFICE STUDIO 12'-1" 9'-9"