10801 FOOTHILL BLVD. RANCHO CUCAMONGA, CA 91730leec-on.reapplications.com/filecabinet/Property/047708/OM... · 2014-10-28 · 10801 FOOTHILL BLVD. RANCHO CUCAMONGA, CA 91730 No warranty

10801 FOOTHILL BLVD. RANCHO CUCAMONGA, CA 91730

No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Greg Martin License # 01001749Senior Vice President

Phone: 909 373-2904Email: [email protected]

Brian Melkesian License # 01839590Senior Vice President

Phone: 909 373-2943Email: [email protected]

For more information, please contact:



The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended tobe reviewed only by the party receiving it from Lee & Associates®‐Ontario and should not be made available to anyother person or entity without the written consent of Lee & Associates®‐Ontario. This Marketing Brochure has beenprepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. Lee & Associates®‐Ontario has not made any investigation, and makes no warranty orrepresentation, with respect to the income or expenses for the subject property , the future projected financialperformance of the property, the size and square footage of the property and improvements, the presence or absenceof contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physicalcondition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’splans or intentions to continue its occupancy of the subject property. The contained in this Marketing Brochure hasbeen obtained from sources we believe reliable; however, Lee & Associates®‐Ontario has not yet verified, and will notverify, any of the information contained herein, nor has Lee & Associates®‐Ontario conducted any investigationregarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completenessof the information provided. All potential buyers must take appropriate measures to verify all of the information setforth herein.

DO NOT DISTURB THE TENANTS. PLEASE CONSULT GREG MARTIN OR BRIAN MELKESIAN OF LEE & ASSOCIATES®‐ONTARIO FOR MORE DETAILS

Confidentiality Agreement


Table of Contents

Section I Executive Summary

Section II Pricing and Financial Analysis

Section III Rent Roll

Section IV Aerials

Section V Demographics


Executive SummarySection I


Foothill Professional Plaza is a 14,258 rentable square foot well located retail/medical property in the growing and high demographic City of Rancho Cucamonga. FoothillProfessional Plaza is a unique opportunity to own a well‐positioned quality property which ideally fills the growth need for medical space in the Rancho Cucamonga area.

Historically the property has always maintained high occupancy rates and strong lease rates due to its uniquely desirable design, easy accessibility and great location.

Its location on Foothill Blvd. is highly desirable for medical users due to its proximity to large residential populations, hospitals nearby, retailers and the highly successfulVictoria Gardens Mall. In addition to being located adjacent a drive‐thru Starbucks and Chipotle restaurant which significantly increases the visibility of Foothill ProfessionalPlaza, It is also across the street from many major chain restaurants and retailers such as Target, Farrell’s, AppleBees, Chili’s, Mimi Café, Panera etc.

The property offers long term investors historically strong and stable income streams as well as offering Value‐Added Buyers and Owner Users multiple exit strategiesbased upon the recorded condo map. The condo map offers owners the ability to sell individual medical units with signage and retail store front units to Owner users.

Property Attributes• ±14,258 SF Retail Strip/Medical Center• Desirable Construction• Excellent Demographics• Existing Condo Map• Multiple Exit Strategies• Will Work for Long Term Investor, Value Add Buyers and Owner Users• ±6% Upside in Converting Leases to Gross Footage

YEAR COMPLETED: 2007APN: 0208‐353‐24 (Master Parcel)

BUILDING SIZE: ±14,258 Net rentable square feetLAND AREA: ± 2.27 acres

PARKING: ± 65 Parking spaces (4.56 per 1,000 sf) TRAFFIC COUNT: 32,022 Foothill Blvd. (Aspen to Spruce)

DEMOGRAPHICS: 1‐mile 3‐miles 5‐milesPopulation (2015): 11,965 144,390 281,164AVG. HH Inc. (2015): 61,049 64,463 58,918

THE PROPERTY: Foothill Professional Plaza10801 Foothill Blvd.Rancho Cucamonga, CA 91730

PRICING:LIST PRICE $4,750,000 ($333/sq. ft.)

CURRENT:CURRENT OCCUPANCY: 78%CURRENT NET INCOME: $286,508CURRENT CAP RATE: 6.03%

PROFORMAPROFORMA OCCUPANCY: 100%PROFORMA NET INCOME: $405,189PROFORMA CAP RATE: 8.53%

Executive Summary


Pricing and Financial AnalysisSection II


2014 Annualized Operating Data

Base RentNNN Expense RecoveryGross IncomeTotal Expenses

Net Operating IncomeCap Rate (Actual)

Property Taxes (Estimated)ManagementLandscapeInsuranceUtilitiesMaintenance & RepairsMiscellaneous

Total Operating Expenses

Base RentNNN Expense RecoveryGross Potential IncomeTotal Expenses

Net Operating IncomeCap Rate (Pro Forma)

Financial Overview

Actual – 2014 78% Occupied*: Pro Forma – 100% Occupied:

2014 Annual Expenses 10801 Foothill Blvd Rancho Cucamonga, CA 91730

$316,494$45,117$361,611$75,103

$286,5086.03%

$405,183$83,103$488,286$83,103

$405,1838.53%

$53,200$11,944$4,500$1,960$6,471$2,483$2,565

$83,103

*Current tenant expected tovacate suites on 11/30/14


Rent RollSection III


Unit TenantLeasedSquare Footage

Gross Rentable Sq

Ft% of Total Monthly

RentMonthly Rent PSF Lease Start

Rent Escalations

Date

Rent Escalation % Lease End Annual Rent Type

NNN Expense Recovery

101 Pacific Dental 3,323 3,563 12.81% 9,126.03 $2.75 1/1/2008 1/1/2015 3.00% 12/31/2017 109,512.00 NNN 1,207.40

103 Evan Halpem DDS (Root 66) 1,766 1,823 6.55% 4,744.50 $2.69 3/1/2008 6/1/2015 3.00% 12/31/2018 56,934.85 NNN 641.67

104 Jeffrey Lanyon & Cora Murillo 1,771 1,882 6.77% 3,662.97 $2.07 6/15/2013 6/1/2015 3.00% 6/30/2016 43,955.64 NNN 0.00

105 Laboratory Corp of America 1,771 1,882 6.77% 4,126.00 $2.33 3/1/2008 N/A 0 2/29/2016 49,512.00 NNN 643.49

106 Dr. Pinky Penalosa 1,755 1,823 6.55% 4,715.01 $2.68 1/1/2009 1/1/2015 3.00% 12/31/2016 56,580.00 NNN 637.68

107* Vacant 3,066 3,285 11.81% 7,391.25 $2.25 N/A N/A 3.00% N/A 88,695.00 NNN 1,113.00

Totals 13,452 14,258 $33,765.25 $405,189

*Pro‐Forma


AerialsSection IV




DemographicsSection IV

Print

10801 Foothill Blvd Demographics

10801 Foothill Blvd

Rancho Cucamonga, CA 91730

Property Type: Office

Specific Use: Medical

Building Size: 13,293 SF

Year Built: 2007

Population 2015 Projection 2016 Projection

< 1 Mile < 3 Miles < 5 Miles < 1 Mile < 3 Miles < 5 Miles

Total Estimated Population 11,965 144,390 281,164 13,631 165,134 320,145

Total Census 2010 Population 8,998 111,385 218,325 8,998 111,385 218,325

Population Change % 17% 26.1% 23.6% 30.5% 44% 39.4%

Population Density (People/SQ Mile) 6,679 6,508 7,673 7,921 7,353 8,663

Median Age 49 39 37 49 40 38

Total Males 5,803 72,643 141,239 6,601 82,867 160,347

Total Females 6,162 71,747 139,925 7,030 82,267 159,798

Population By Age Group 2015 Projection 2016 Projection


4 Years Old and Younger 936 9,702 19,563 947 10,540 21,312

5 - 9 Years Old 1,057 11,139 22,650 1,089 11,901 24,046

10 - 14 Years Old 998 11,405 23,387 1,165 12,890 26,059

15 - 19 Years Old 880 11,495 23,467 1,082 12,800 26,010

20 - 24 Years Old 843 11,279 22,623 986 12,527 25,267

25 - 29 Years Old 948 10,799 20,994 941 11,987 23,777

30 - 34 Years Old 1,053 10,459 19,709 975 11,214 21,595

35 - 39 Years Old 1,071 10,881 20,197 1,081 11,629 21,842

40 - 44 Years Old 1,018 11,623 21,489 1,118 12,070 22,340

45 - 49 Years Old 873 11,402 21,014 1,032 12,118 22,267

50 - 54 Years Old 700 9,913 18,330 893 11,610 21,269

55 - 59 Years Old 568 8,283 15,512 753 10,299 18,929

60 - 64 Years Old 372 5,522 10,617 531 7,689 14,356

Page 1 of 4Demographics

10/2/2014http://cdx.xceligent.com/Demographics/Demographics/744802/print

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Population By Age Group 2015 Projection 2016 Projection


65 - 69 Years Old 242 3,752 7,453 388 5,686 10,785

70 - 74 Years Old 155 2,502 5,151 254 3,918 7,627

75 - 79 Years Old 103 1,760 3,710 166 2,577 5,141

80 - 84 Years Old 73 1,203 2,536 112 1,772 3,585

85 Years Old and Older 75 1,271 2,762 118 1,907 3,938

Population By Ethnicity 2015 Projection 2016 Projection


White 8,483 113,519 228,283 9,634 129,105 259,089

Black 1,709 13,575 23,514 1,834 14,739 25,317

Native American 88 1,157 2,472 92 1,214 2,486

Asian 1,283 12,054 20,000 1,723 16,638 27,502

Pacific Islander 48 511 964 60 566 1,058

2 or More Races 354 3,574 5,931 288 2,872 4,693

Hispanic 4,362 56,516 131,393 5,549 71,931 163,437

White Non-Hispanic 4,217 56,724 97,420 4,150 56,049 94,794

Housing 2015 Projection 2016 Projection


Total Estimated Households 4,786 47,322 88,090 5,501 54,538 100,703

Total Census 2010 Households 3,494 35,967 67,607 3,494 35,967 67,607

Average Household Size 2.7 3.1 3.2 1.8 .4 .2

Total Housing Units 4,450 44,518 81,862 4,810 49,101 89,083

Owner 1,331 27,191 50,462 1,436 29,751 54,813

Renter 2,804 15,795 28,468 3,034 17,646 31,076

Vacant Housing Units 314 1,527 2,926 340 1,702 3,193

Income 2015 Projection 2016 Projection


Under $10,000 195 2,317 5,024 222 2,689 5,753

$10,000 - $14,999 159 1,624 3,924 190 1,902 4,530

$15,000 - $19,999 198 1,842 4,187 235 2,136 4,820

$20,000 - $24,999 273 2,029 4,709 327 2,385 5,448

$25,000 - $29,999 289 2,376 4,914 340 2,778 5,703

$30,000 - $34,999 365 2,801 5,227 421 3,287 6,057

$35,000 - $39,999 373 2,544 5,005 433 2,966 5,781



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Income 2015 Projection 2016 Projection


$40,000 - $44,999 292 2,738 4,860 343 3,203 5,607

$45,000 - $49,999 365 2,716 4,743 414 3,138 5,476

$50,000 - $59,999 712 5,089 8,651 813 5,845 9,883

$60,000 - $74,999 498 6,665 10,959 567 7,659 12,493

$75,000 - $99,999 588 7,271 11,948 665 8,243 13,531

$100,000 - $124,999 237 3,817 6,365 261 4,333 7,128

$125,000 - $149,999 79 1,466 3,043 88 1,672 3,431

$150,000 - $199,999 97 1,142 2,381 108 1,317 2,696

Over $200,000 51 668 1,586 58 769 1,791

Median Household Income $58,947 $57,785 $51,200 $58,768 $57,828 $51,261

Aggregate Household Income $281,

707,193

$2,

997,902,618

$5,

493,259,028

$317,

291,132

$3,

433,558,066

$6,

222,971,097

Average Household Income $61,049 $64,463 $58,918 $60,823 $64,372 $58,727

Per Capita Household Income $17,918 $20,173 $18,253 $18,456 $20,312 $18,323

Household Expenditures2015 Projection 2016 Projection


Total Annual Household $218,

375,075

$2,

346,386,507

$4,

210,323,281

$250,

662,021

$2,

711,882,676

$4,

830,718,230

Average Annual Household $56,719 $50,941 $46,010 $52,861 $50,903 $46,234

Food $6,965 $6,368 $5,859 $6,506 $6,325 $5,837

Cereals & Bakery Products $466 $446 $422 $437 $440 $418

Cereals & Cereal Products $180 $164 $154 $168 $164 $154

Bakery Products $343 $325 $305 $307 $310 $294

Meats, Poultry, Fish & Eggs $1,046 $983 $914 $990 $995 $925

Dairy ProductseFMisc $428 $395 $367 $415 $405 $376

Housing $17,982 $16,273 $14,894 $16,908 $16,345 $15,043

Owned Dwellings $7,815 $6,791 $5,964 $7,360 $6,869 $6,053

Mortgage Interest & Charges $4,077 $3,531 $3,071 $3,496 $3,299 $2,895

Property Taxes $2,183 $1,908 $1,689 $1,929 $1,828 $1,637

Rented Dwellings $2,012 $2,164 $2,270 $1,856 $2,078 $2,194

Utilities, Fuels & Public Services $3,790 $3,555 $3,304 $3,533 $3,540 $3,320

Natural Gas $563 $526 $493 $501 $500 $470

Electricity $1,354 $1,276 $1,196 $1,257 $1,268 $1,200

Fuel Oil or Other Fuels $138 $132 $125 $131 $132 $125

Telephone Services $1,251 $1,178 $1,092 $1,236 $1,229 $1,140



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Documents

10801 FOOTHILL BLVD. RANCHO CUCAMONGA, CA 91730leec-on.reapplications.com/filecabinet/Property/047708/OM... · 2014-10-28 · 10801 FOOTHILL BLVD. RANCHO CUCAMONGA, CA 91730 No warranty