Civic - Win Business › d2 › IgI1VZzRscQb...and a variety of professional offices.Situated on high traffic Civic Drive, high traffic major thoroughfares.Easy access to Interstate

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REAL ESTATE SOLUTIONS

15490 CIVICDRIVEVictorville, CA 92392

BUILDING SIZE11,535 SF

ASKING PRICE$1,199,999

AREAPrime location in Victorville Civic Center, which includes Victorville City Hall, Victorville Superior Court,

and a variety of professional offices. Situated on high traffic Civic Drive, high traffic majorthoroughfares. Easy access to Interstate15 and Highways 395 and 18.

OFFICE

Bob BasenExecutive Vice President760 684 8000 [email protected] #00521368

Jerrad SchendelVice President of Investment Properties760 684 [email protected] #01971338

©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker Commerciallogos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised ofcompany owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC andfranchised offices which are independently owned and operated. The Coldwell Banker System fullysupports the principles of the Equal Opportunity Act.

COLDWELL BANKER COMMERCIALREAL ESTATE SOLUTIONS15500 West Sand Street, 2nd Floor, Victorville, CA 92392760.684.8000

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Jerrad SchendelVice President of Investment Properties760 684 [email protected] #01971338 REAL ESTATE SOLUTIONS

CONFIDENTIALITY AGREEMENT

This offering has been prepared solely for informational purposes. It is designed to assist a potentialinvestor in determining whether it wishes to proceed with an in-depth investigation of the subjectproperty. While the information contained herein is from sources deemed reliable, it has not beenindependently verified by the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptionsconsidered reasonable under the circumstances. No representations or warranties, expressed orimplied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subjectto modification or withdrawal. The contents herein are confidential and are not to be reproducedwithout the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALLFAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/orafter contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspectand investigate the Property and all improvements thereon, either independently or through agents ofthe buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, toreject all offers, and to accept any offer without regard to the relative price and terms of any other offer.Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated ina formal written contract of purchase and sale to be prepared by the Seller and executed by bothparties; and (iii) approved by Seller and such other parties who may have an interest in the Property.Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase andsale, which contract shall supersede prior discussions and writings and shall constitute the soleagreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property andall other expenses, professional or otherwise, incurred by them.

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04 PROPERTY INFORMATION

Property Overview

Additional Photos

07 LOCATION INFORMATION

Location Maps

Aerial Maps

10 FINANCIAL ANALYSIS

Financial Summary

Rent Roll

Income & Expenses

14 SALE COMPARABLES

Sale Comps

Sale Comps Summary

Sale Comps Map

Sale Comps Summary

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PROPERTYINFORMATIONSECTION 1

OFFICE



©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker Commercial logos aretrademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of companyowned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices whichare independently owned and operated. The Coldwell Banker System fully supports the principles of the EqualOpportunity Act.


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OFFERING SUMMARY

Sale Price: $1,199,999

Cap Rate: %

NOI: $

Lot Size: 0.62 Acres

Year Built: 1991

Building Size: 11,535 SF

Renovated: 2019

Zoning: Commercial

Market: Victorville

Submarket: Civic Center

Price / SF: $104.03

PROPERTY OVERVIEW

This well-maintained two-story office building has suites from ±732 SF to ±1,518SF. There is ample parking and excellent visibility for your potential and currentclients. The building has central air conditioning and heating, and second floor isstair access only. Good mix of new tenants and long term stalwarts. Property willprovide an investor a great long term return.

PROPERTY HIGHLIGHTS

• Low price per cost

• 5.75% CAP rate on actuals

• 6.8% Cap once fully leased

• Well below replacement cost

• Good mix of tenants

• Recently renovated

• Located in the Central Civic Center of the Victor Valley

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LOCATIONINFORMATIONSECTION 2

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FINANCIALANALYSISSECTION 3

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INVESTMENT OVERVIEW ACTUALS PRO-FORMA

Price $1,199,999 $1,199,999

Price per SF $104.03 $104.03

CAP Rate 5.7% 6.8%

Cash-on-Cash Return (yr 1) 3.43 % 6.05 %

Total Return (yr 1) $30,583 $42,726

Debt Coverage Ratio 1.3 1.53

OPERATING DATA ACTUALS PRO-FORMA

Gross Scheduled Income $101,598 $113,935

Other Income $2,824 $5,500

Total Scheduled Income $104,422 $119,435

Vacancy Cost $0 $0

Gross Income $104,422 $119,435

Operating Expenses $35,600 $38,469

Net Operating Income $68,822 $80,966

Pre-Tax Cash Flow $15,968 $28,112

FINANCING DATA ACTUALS PRO-FORMA

Down Payment $464,999 $464,999

Loan Amount $735,000 $735,000

Debt Service $52,854 $52,854

Debt Service Monthly $4,404 $4,404

Principal Reduction (yr 1) $14,614 $14,614

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TENANT

NAME

UNIT

NUMBER

UNIT

SIZE (SF)

ANNUAL

RENT

% OF

BUILDING

PRICE

PER SF/YR

Carmen Loya Insurance 101 683 $9,570 5.92 $14.01

Institute for Public Strategies 102 1,021 $11,639 8.85 $11.40

Simply Sales and solutions 201/205 1,518 $19,127 13.16 $12.60

Thompson Attorney 105/106 732 $20,203 6.35 $27.60

Application Pending Approval 202 894 $12,337 7.75 $13.80

Inter-Con Security 203 583 $7,312 5.05 $12.54

RCA Associates 204 696 $8,355 6.03 $12.00

ICQ Search & Recovery 206 680 $7,312 5.9 $10.75

Angel Realty Group 207 205 $2,852 1.78 $13.91

JF Human Services 103/104 1,060 $15,228 9.19 $14.37

Totals/Averages 8,072 $113,935 $14.11

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INCOME SUMMARY ACTUALS PRO-FORMA

Gross Income $104,422 $119,435

EXPENSE SUMMARY ACTUALS PRO-FORMA

Electrical $866 $866Fire and Safety $528 $528Insurance Expense $2,013 $2,013Landscaping and Groundskeeping $1,873 $1,873Management Fees $6,015 $6,015Pest Control $430 $430Property Tax $11,375 $11,375Repairs and Maintenance $2,781 $2,781Utilities $9,717 $9,717Property Management Fees - $2,869

Gross Expenses $35,600 $38,469

Net Operating Income $68,822 $80,966

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SALECOMPARABLESSECTION 4

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Subject Property

15490 Civic Drive | Victorville, CA 92392

$1,199,999Sale Price: 0.43 AcresLot Size:

1991Year Built: 11,535 SFBuilding SF:

$104.03Price PSF: 5.74%CAP:

$68,822NOI:

This well-maintained two-story office building has suites from ±732 SF to ±1,518 SF. There is ample parking and excellent visibility for your potential and current clients. The building has central air conditioningand heating, and second floor is stair access only. Good mix of new tenants and long term stalwarts. Property will provide an investor a great long term return.

1

15402 W Sage StVictorville , CA 92392

$975,000Sale Price: 0.49 AcresLot Size:


$115.91Price PSF: 12/13/2018Closed:

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15415 W Sand StVictorville, CA 92392

$2,000,000Sale Price: 0 AcresLot Size:



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12530 Hesperia RdVictorville, CA 92392




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12760 Hesperia RdVictorville , CA 92395




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SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP # OF UNITS

15490 Civic DriveVictorville, CA 92392

$1,199,999 11,535 SF $104.03 5.74% 13

SALE COMPS PRICE BLDG SF PRICE/SF CAP # OF UNITS CLOSE

15402 W Sage StVictorville , CA92392

$975,000 8,412 SF $115.91 - - 12/13/2018

15415 W Sand StVictorville, CA92392

$2,000,000 13,150 SF $152.09 - - 09/11/2018

12530 Hesperia RdVictorville, CA92392

$3,600,000 29,568 SF $121.75 - - 03/19/2018

12760 Hesperia RdVictorville , CA92395

$1,950,000 9,228 SF $211.31 - - 12/28/2018

PRICE BLDG SF PRICE/SF CAP # OF UNITS CLOSE

Totals/Averages $2,131,250 15,090 SF $141.24 - -

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15490 Civic Drive | Victorville, CA 92392SUBJECT PROPERTY

1Victorville , CA92392

15402 W SAGE ST 2Victorville, CA92392

15415 W SAND ST

3Victorville, CA92392

12530 HESPERIA RD 4Victorville , CA92395

12760 HESPERIA RD

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SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP # OF UNITS

15490 Civic DriveVictorville, CA 92392

$1,199,999 11,535 SF $104.03 5.74% 13

SALE COMPS PRICE BLDG SF PRICE/SF CAP # OF UNITS CLOSE

15402 W Sage StVictorville , CA92392

$975,000 8,412 SF $115.91 - - 12/13/2018

15415 W Sand StVictorville, CA92392

$2,000,000 13,150 SF $152.09 - - 09/11/2018

12530 Hesperia RdVictorville, CA92392

$3,600,000 29,568 SF $121.75 - - 03/19/2018

12760 Hesperia RdVictorville , CA92395

$1,950,000 9,228 SF $211.31 - - 12/28/2018

PRICE BLDG SF PRICE/SF CAP # OF UNITS CLOSE

Totals/Averages $2,131,250 15,090 SF $141.24 - -

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Civic - Win Business › d2 › IgI1VZzRscQb...and a variety of professional offices.Situated on high traffic Civic Drive, high traffic major thoroughfares.Easy access to Interstate

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