TYLER STREET PLAZA 3838-3870 TYLER STREET | RIVERSIDE, CA OFFERING MEMORANDUM TABLE OF CONTENTS EXECUTIVE SUMMARY 04 PROPERTY OVERVIEW 08 MARKET OVERVIEW 14 FINANCIAL ANALYSIS 22 ADDITIONAL PHOTOS 26 EXECUTIVE SUMMARY 1 OFFERING Summary PROPERTY SUMMARY TYPE OF OWNERSHIP Fee Simple PROPERTY TYPE Retail-Community Center ADDRESS 3838-3870 Tyler Street, Riverside, CA 92505 ZONING C2 PROPERTY APN 143-170-017 3838-3870 TYLER SALE SUMMARY BUILDING SIZE 80,915 SF LOT SIZE 250,906 SF STREET YEAR BUILT 1980 NUMBER OF TENANTS 7 Tenants SALE SUMMARY PRICING PRICE PER SF PRICE PER SF ON LAND $12,500,000 $154 $50 CAP RATE | NOI PARKING SPOTS 5.7% | $708,074 305 06 07 PROPERTY OVERVIEW 2 PROPERTY OVERVIEW BY RIGHT WITH TOC PRICE $5,500,000 $5,500,000 TYLER STREET PLAZA MAX POTENTIAL UNITS 42 UNITS 69 UNITS PRICE/POTENTIAL UNIT $130,952/Unit $79,710/Unit Compass Commercial has been exclusively retained for the sale of Tyler Street Plaza located at 3838 - 3870 Tyler Street in the City of BUILDABLE SF 25,506 SF 55,263 SF Riverside. The Tyler Street Plaza is an 80,915 square foot shopping center ideally situated on 5.76 acre of land located in the Tyler PRICE/BUILDABLE SF $216 $99.52 Street retail hub in Riverside, California. Tyler Street Plaza has been anchored by Burlington Coat Factory since 1999 and continues to Maximum FAR SALE SUMMARY1.5:1 3.25:1 SALE SUMMARY be one of the leading value retailers in the industry. Tyler Street shopping center consists of seven tenants including Wendy’s, a MAXIMUM HEIGHT Feet None None national credit tenant fast food restaurant since 2021. The center was built in 1980 and is located on Tyler Street, just north of the Stories None None Magnolia Avenue/Tyler Street intersection. The subject property has a total of 305 parking spaces. MINIMUM SETBACKS Front 0 ft. 0 ft. Side 5 ft. (only for residential stories) 5 ft. Tyler Street Plaza is one of Inland Empire’s most desirable retail • 80,915 SF Multi-Tenant Shopping Plaza Back 15 ft. 5 ft. (no setbacks required for mixed-use...) corridors located at the signalized intersection of major Tyler Street and Magnolia Avenue, approximately half of mile from I-91 E FWY. • 305 Parking Spots None at least 9% for Extremely Low Income, or 12% The center is full of major anchor tenants, including Nordstrom, • Pad on Tyler Street, just north of Magnolia Avenue - One of AFFORDABLE UNITS REQUIRED for Very Low, or 21% for Low Income Macy’s, Cheesecake Factory, Yard House, Target, Best Buy. Nearby Inland Empire’s Most Desirable Retail Corridors parks include Myra Lynn Park, Challen Park and Collett Park. • Tyler Street Plaza major tenants: Burlington and Wendy’s 1 space per unit with less than 3 habitable rooms 1.5 spaces per unit with 3 habitable rooms • Area tenants include Nordstrom, Macy’s, Cheesecake PARKING REQUIRED 2 spaces per unit with more than 3 habitable rooms Shall not be required to exceed 1 space per unit * Buyer to verify all information inclusive of square footage. Don’t Factory, Yard House, Target, Best Buy 1 space per guest room (first 30) disturb the tenants. • Exceptional Parking with Tremendous Visibility to Tyler Street TYLER AVENUE • Half a mile away from I-91 E FWY 100 sq ft per unit with less than 3 habitable room; REQUIRED OPEN SPACE 125 sq ft per unit with 3 habitable rooms;175 sq ft Up to 20% decrease in required open space per unit with more than 3 habitable rooms 10 11 PLAT MAP 12 13 MARKET OVERVIEW 3 MARKET Demographics Map & Report OVERVIEW Population DEMO1 MileGRA2 MilesPHIC3 MilesS Total Population 19,387 77,914 142,023 EASTVALE Average age POPULATION 1 29.2MILE 229.0 MILES 329.6 MILES HOUSEHOLD BY INCOME 1 MILE 3 MILE 5 MILE Average age (Male) 28.7 28.7 29.0 RIVERSIDE Total Population 19,387 77,914 142,023 2020 Estimate Average age (Female) 30.2 29.5 30.3 Average Age 29.2 29.0 29.6 $150,000 or More 23.83% 25.52% 20.44% Households & Income 1 Mile 2 Miles 3 Miles Average Age(Male) 28.7 28.7 29.0 NORCO Total households 5,454 21,262 39,148 $100,000 - $149,000 16.94% 15.89% 13.97% # of persons per HHAverage Age(Female) 30.23.6 29.53.7 30.33.6 Average HH income $54,451 $63,712 $65,237 $75,000 - $99,999 12.97% 11.55% 11.11% Average house value $334,261 $330,225 $329,694 * Demographic data derived from 2010 US Census $50,000 - $74,999 14.41% 14.94% 15.51% 3838 TYLER STREET HOUSEHOLDS MILE 2 MILES 3 MILES CASTLE PARK $25,000 - $49,999 14.10% 14.82% 18.78% Total Households 5,454 21,262 39,148 of ersons per 3.6 3.7 3.6 Under $25,000 17.75% 17.29% 20.18% Average Income $54,451 $63,712 $65,237 Average ouse Value $334,261 $330,225 $329,694 Average HH Income $111,975 $114,474 $100,502 CORONA Median HH Income $82,199 $81,388 $67,754 16 17 Elizabeth Clark Laura Milshteyn Senior Vice President Commercial Associate 2 310.691.7884 310.400.0430 [email protected] [email protected] CalDRE #01811246 CalDRE #01997655 RIVERSIDE CITY It is the most populous city in the Inland Empire and in Riverside County, and is located about 50 miles (80 km) east of Location Map downtownThe economic Los baseAngeles. has changedThe city overlies onthe the years. SantaOil Ana extraction River. createdWith San a Bernardino andAVIATION Ontario & it forms aFINANCIAL metropolitan HEALTHCARE HOSPITALITY & complex east of Los Angeles. The city was laid out in 1870 in part on a section of RanchoAEROSPACE Jurupa, a MexicanSERVICES land grant TOURISM ofboo 1838.m and Initially this was named a Navy Jurupa, town for the many city yearsbeganbe asfore a silk-growingthe base closed colony. The Renamed Riverside, it developed as a citrus town; theaerospace state’s industryfirst Washington played an navel-orange important role trees, . Douglas propagated Aircraft Companyfrom Brazilian cuttings, were cultivated there in 1873. The Parent(later McDo Navelnn ellOrange Douglas Tree and and now the part California of Boeing) Citrus had State plants Historic at the LongPark are now popular local attractions. RiversideBeach Airport is known where forth eyits builtcitrus aircraft orchards, for World the University War II, and of laterCalifornia, built DC- Riverside campus and the historic Mission Inn Hotel & Spa. With its affordable housing options, it’s also an appealing spot for homebuyers. Riverside’s economy includes 8s, DC-9s, DC-10s, and MD-11s. Boeing built the Boeing 717 until 2006 and manufacturing and distributive and educational activities. March Air Reserve BaseINTE (untilRNATIONAL 1996 March Air ForceOIL & Base), REAL ESTATE TECHNOLOGY withthe C-17 a field Globem museumaster II Icontaining strategic airlifter vintage plant aircraft, is sched isuled nearby. to close. At the Even northern edge ofTRADE the city is the SantaENERGY Ana River Regionalafter greatly Park, red anducing south the ofnu thembe cityr ofis Lake local Mathews.employees Mount in recent Rubidoux years, is a popular site for slab rock climbing. Other area recreational attractions include Lake Perris State Recreation Area, Mockingbird Canyon, and Sycamore Canyon Park. Boeing is still the largest private employer in the city. Polar Air Cargo, an Theintern medianational cargohome airline,value in was Riverside formerly is based$394,400, in Long while Beach. the median TABC, Inc.,list price a per square foot in Riverside is $239, according to Zillow’s data through May 31, 2018. Riverside’s home values have gone up 9 percent since 2017. Zillow analysts forecast homepart of prices Toyota, in makesRiverside a variety will rise of car 4.4 parts, percent including between stee ring2018 columnsand 2019. and Riverside boasts several distinctive neighborhoods thatcatalytic cater converters, to both single in Long professionals Beach. and families. Those who live in Riverside County can gas up their car and decide whether they’d like to visit their favorite Disney characters in Anaheim, hit the slopes in the San Bernardino Mountains, go wine tasting in Temecula or see the bright lights of Los Angeles. Riverside’s central proximity to many classic Southern California attractions makes it an attractive place to live. • • • • • 2418 Elizabeth Clark Laura Milshteyn 19 Senior Vice President Commercial Associate 1 310.691.7884 310.400.0430 [email protected] [email protected] CalDRE #01811246 CalDRE #01997655 & R (32,494 CARS PER DAY) TYLER ST. (40,874 CARS PER DAY) MAGNOLIA AVE. (30,239 CARS PER DAY) HOLE AVE. R TYLER AVENUE STEVE MCDONALD NORMAN LEE All information furnished regarding property for sale, rental or financing is from sources deemed reliable. No representation is Managing Director Senior Managing Director made as to the accuracy thereof and it is submitted subject to [email protected] | 310-591-4744 [email protected] | 213-596-2242 errors, omissions, change of price, rental or other conditions, prior License #01054568 License #01374832 sale, lease, or financing, or withdrawal without notice. FINANCIAL ANALYSIS 4 RENT ANNUALIZED ROLL FINANCIAL Tyler Street Plaza Properties: 3838-3870 Tyler Street, Riverside, CA Annualized Financial Statement Units: Active As of: May 2021 Gross Potential Income $866,447 Expenses Reimbursement $212,650 Total Gross Income $1,079,097 Renewal Base Rent Base Rent CAM Rent Suite Tenant SqFt Lease Start Lease End Base Total/YR CAM Total/YR Total/YR CAM% Option ($/SF/Mo) (Month) (Month) (Base+CAM) Less Vacancy (3%) $32,373 Less Expenses $338,650 3838 Wendy's 2,000 1/13/2021 1/12/2046 $6.04 $12,083.33 $12,083.33 $145,000.00 $145,000.00 8.353 Net Operating Income $708,074 1,200 5/1/2021 4/30/2025 $2.89 $3,471.00 $593.76 $41,652.00 $7,125.12 1.394 3852