125 ASPEN DRIVE MARTINEZ, CA · 2019-10-07 · OFFICE DEVELOPMENT OPPORTUNITY 125 ASPEN DRIVE, MARTINEZ, CA 3 Kidder Mathews and ProEquity as exclusive advisors are pleased to offer

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125 ASPEN DRIVE MARTINEZ, CA

OFFICE DEVELOPMENT OPPORTUNITY | MARTINEZ, CA | SALE PRICE OF $325,000

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The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.

This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.

01EXECUTIVE SUMMARY

02PROPERTY DESCRIPTION

03AREA OVERVIEW

04SALES COMPARABLES

05LEASE COMPARABLES

06FINANCIAL SUMMARY

KIDDER.COM

EXCLUSIVELY LISTED BY

TABLE OF CONTENTS

TYLER SHELDON

[email protected] N° 01200193

MICHEAL TOBIN

Senior Vice President [email protected] N° 00414723

KIDDER MATHEWS PROEQUITY ASSET MANAGEMENT

3OFFICE DEVELOPMENT OPPORTUNITY 125 ASPEN DRIVE, MARTINEZ, CA

Kidder Mathews and ProEquity as exclusive advisors are pleased to offer for sale 125 Aspen Drive, a well-located Office or MOB development site in Martinez, California.

OVERVIEW

ZONED Office (O-1)

SITUATED between two fully occupied professional service office buildings

- Law firm anchored office building (North)

- Medical office building (South)

EXECUTIVE SUMMARY

FORTUNE 500 tenants in immediate area – Hertz / Caterpillar

THE PROPERTY is situated just south of Highway 4 and immediately adjacent to Interstate 680 in Contra Costa County.

ASPEN DRIVE is a quiet, office and professional service corridor off of busy Pacheco Boulevard, protected by Grayson Creek preserve.

THE I-680 and Highway 4 East Bay transit corridor provides ease of access to the great wnearby communities of Walnut Creek, Pleasant Hill and Concord.

INVESTMENT SUMMARY

Sale Price $325,000 ($16.58/PSF)W

Land Area ±19,602 SF

Floor-to-Area Ratio (FAR) 0.7

Total Developable SF ±13,721

Office Market Rents (Market Estimate)

- Anchor tenants (5k SF):$21 PSF/YR FSG- Office tenants (1-2k SF):$18 PSF/YR FSG

PROPERTY OVERVIEW

Property Address 125 Aspen Drive, Martinez, CA

APN 125-140-005

Total Lot Area ±19,602 SF (.045 acres)

Zoning Q-1

Height Maximum of 2 1/2 stories or 35 FT

Density Maximum coverage permitted is 35% of total lot area

Estimated Buildable Area ±13,721 SF

ZONING ANALYSIS

Permitted UsesThe property is zoned for professional offices, medical offices or similar commercial use

PARKING

Office One space per each 250 SF of gross floor area

MedicalOne space per each 250 SF of gross floor area, plus one space per doctor/dentist

PROPERTY DESCRIPTION

OFFICE DEVELOPMENT OPPORTUNITY 125 ASPEN DRIVE, MARTINEZ, CA 4


AREA OVERVIEW

PARCEL MAP


FREMONT

BURLINGAME

SOUTH SAN

FRANCISCO

BRISBANE

SAN MATEO

HAYWARD

UNION CITY

NEWARK

ALAMEDA

SAUSALITO

TIBURONMILL VALLEY

DALY CITY

PACIFICA

PACIFIC OCEAN

BERKELEY ORINDA

LAFAYETTE

CONCORD

PLEASANT HILL

DANVILLE

SAN RAMON

CASTRO VALLEY

DUBLINLIVERMORE

SAN PABLO

REDWOOD CITY

FOSTER CITY

ALAMO

PLEASANTON

RICHMOND

PINOLE

WALNUT CREEK

SAN FRANCISCO

EL CERRITO

PITTSBURGMARTINEZ

OAKLAND

MARIN COUNTY

SAN FRANCISCO COUNTY

CONTRA COSTA COUNTY

ALAMEDACOUNTY

SAN MATEO COUNTY

OAKLANDINTERNATIONAL AIRPORT

SAN FRANCISCOINTERNATIONAL AIRPORT

AREA OVERVIEW

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125 ASPEN DRIVE

SALE COMPARABLES

SITES

1820 Alhambra Avenue, #822 Martinez, CA 94553

2742 Arnold Drive Martinez, CA 94553

32520 Stanwell Drive Concord, CA 94520

41805 Arnold Drive Martinez, CA 94553

51485 Treat Boulevard Walnut Creek, CA 94597

61181 Boulevard Way Walnut Creek, CA 94595

1

2

3

4

MARTINEZ

CONCORD

WALNUT CREEK

PACHECO

PLEASANT HILL

5

6



820 ALHAMBRA AVENUE, #822Martinez, California

Property Type Office

Property Sub Type Office Building

Sale Date 11/05/2014

Sale Price $870,000 ($117.52/SF)

Building Size ±7,403 SF

Lot Size 0.11 Acres

Year Built 1982

01

SALE COMPARABLES

742 ARNOLD DRIVEMartinez, California




Sale Price $1,400,000 ($202.90/SF)


Lot Size 0.50 Acres

Year Built 2004

02

2520 STANWELL DRIVEConcord, California




Sale Price $4,390,000 ($182.64/SF)


Lot Size 1.80 Acres

Year Built 1978

03

1805 ARNOLD DRIVEMartinez, California




Sale Price $2,500,000 ($214.63/SF)


Lot Size 0.62 Acres

Year Built 1982

04

1485 TREAT BOULEVARDWalnut Creek, California




Sale Price $2,419,000 ($152.06/SF)


Lot Size 0.32 Acres

Year Built 1984

05

1181 BOULEVARD WAYWalnut Creek, California




Sale Price $1,499,000 ($234.22/SF)


Lot Size 0.42 Acres

Year Built 1965

06

LEASE COMPARABLES

SITES

1400 Taylor BoulevardPleasant Hill, CA 94523

21251 Monument Boulevard Concord, CA 9450

32380 Salvio Street Concord, CA 94520

42425 East Street Concord, CA 94520

52299 Bacon Street Concord, CA 94520

62100 Monument Boulevard Pleasant Hill, CA 94523

781 Gregory Lane Pleasant Hill, CA 94523

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2

5 4

7

MARTINEZ

CONCORD

PACHECO

PLEASANT HILL

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6

TAYLOR BLVD

WILLOW PASS RD

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400 TAYLOR BOULEVARDPleasant Hill, California

Space Available ±2,066-3,141 SF

Rental Rate $2.60 SF/Mo

Spaces 2


Property Sub-type Medical Office

01

Suite SF Rental RateMin Divisible

Max Contiguous

Lease Type

Date Available Description

3rd Floor

±3,141 $2.60 SF/Mo 3,141 SF 3,141 SF Now

Open space plus (6) private window offices of varying sizes. Contiguous with building amenityconference/media room.

303 ±2,066 $2.60 SF/Mo 2,066 SF 2,066 SF NowLarge open space with (2) private offices.

Property Description

This is a 3-story Class A Medical Office building. Current tenants make this building perfectly suited for Oncology & Neurology practices. Building amenities include conference/media/class room, onsite building engineer, high speed fiber-optics, park-like setting with outdoor seating area, beautifully manicured landscaping and abundant 4/1,000 parking.

1251 MONUMENT BOULEVARDConcord, California



Spaces 2


Property Sub-type Office Building

02


Max Contiguous

Lease Type


3rd Floor

±1,400 $1.70 SF/Mo 400 SF 3,141 SF FS Now

260 ±1,050 $1.70 SF/Mo 2,066 SF FS Now


11400 square foot Class B office building in Concord, CA

LEASE COMPARABLES

2380 SALVIO STREETConcord, California


Rental Rate $1.10-$1.11 SF/Mo

Spaces 2



03


Max Contiguous

Lease Type


301 ±2,056 $1.70 SF/Mo NNN Now

302 ±1,530 $1.70 SF/Mo NNN Now


Lease with purchase option will be considered. 12,813 square foot office/medical building. Each unit separately metered. Warm ShellFull exterior renovation, new landscaping, upgraded common areas. Full or partial floors available. Individ-ual suite identity & building signage. Up to 5/1,000 parking available (3/1,000 onsite).Additional parking available in City Garage (one block).


LEASE COMPARABLES

2425 EAST STREETConcord, California

Space Available ±800-1,620 SF

Rental Rate Negotiable

Spaces 4



04


Max Contiguous

Lease Type


10 ±1,020 1,020 SF 1,020 SF Now

14 ±1,620 1,620 SF 1,620 SF Now

17 ±800 800 SF 800 SF FS Now

18 ±918 918 SF 918 SF FS Now


Directly adjacent to John Muir Medical Center on and off freeway access. Generous TI allowances available.New ownership. Recent major project renovations.

2100 MONUMENT BOULEVARDPleasant Hill, California

Space Available ±625-2,057 SF

Rental Rate $1.25-$1.35 SF/Mo

Spaces 7



06


Max Contiguous

Lease Type


8 ±2,057 $1.70 SF/Mo 2,057 SF 2,057 SF Now Build-to-suit

9 ±1,020 $1.70 SF/Mo 2,066 SF Now

10 ±1,020 $1.70 SF/Mo 2,066 SF Now

11 ±1,020 $1.70 SF/Mo 2,066 SF Now

12 ±1,020 $1.70 SF/Mo 2,066 SF Now

15B ±1,020 $1.70 SF/Mo 2,066 SF Now

18 ±1,020 $1.70 SF/Mo 2,066 SF Now


Professional offices for medical, dental, allied health professionals and other professionals such as accountants and attorneys.

81 GREGORY LANEPleasant Hill, California

Space Available ±1,618 SF


Spaces 1



07


Max Contiguous

Lease Type


240 ±1,618 $1.95 SF/MoMod Net

Now


Located at 81 Gregory Lane, Pleasant Hill.

2299 BACON STREETConcord, California


Rental Rate Negotiable

Spaces 2



05


Max Contiguous

Lease Type


3 ±2,057 $1.70 SF/Mo 2,057 SF 2,057 SF Now Build-to-suit

1 ±1,020 $1.70 SF/Mo 2,066 SF Now


Directly adjacent to John Muir Medical Center on and off freeway access. Generous TI allowances available.New ownership. Recent major project renovations.


FINANCIALS

VALUATION ANALYSIS

The study accounts for construction and development costs along with tenant improvement and developer profit margin.

The residual land value analysis is based off of the following median rent estimates. *Call to inquire further about specific analytics.

OFFICE MARKET RENTS (MARKET ESTIMATE)

Anchor Tenants (5k SF) 0,000 $0,000 $0.00

Office Tenants (1-2k SF) 0,000 $0,000 $0.00

OVERVIEW

Development Square Feet 13,721

Lot Area 19,602

RENTAL REVENUE

Rentable AreaStabilizedMonthly Rent

Stabilized Annual Rent

Suite 1 ±6,861SF $12,006.75 $144,071

Suite 2 ±1,715 SF $2,572.50 $30,870

Suite 3 ±1,715 SF $2,572.50 $30,870

Suite 4 ±1,715 SF $2,572.50 $30,870

Suite 5 ±1,715 SF $2,572.50 $30,870

Total potential gross income ±13,721 SF $22,296.75 $267,561.00

Less Vacancy 10% $26,755

NOI $240,796.00

Asking Price - Development Site $16.58 PSF $325,000

CAP RATE VALUE RANGE

6.00% $4,013,258 $292 PSF

6.50% $3,704,545 $270 PSF

7.00% $3,439,935 $251 PSF

KIDDER.COM

TYLER SHELDON

[email protected] N° 01200193

MICHEAL TOBIN

Senior Vice President [email protected] N° 00414723

KIDDER MATHEWS

PROEQUITY ASSET MANAGEMENT

EXCLUSIVELY REPRESENTED BY

Documents

125 ASPEN DRIVE MARTINEZ, CA · 2019-10-07 · OFFICE DEVELOPMENT OPPORTUNITY 125 ASPEN DRIVE, MARTINEZ, CA 3 Kidder Mathews and ProEquity as exclusive advisors are pleased to offer