Medical Professional Office Inestment Opportunity ith Re ...images2.loopnet.com/d2/TPUPPF9hZg3qJ-Z5MbF2f3xcu5l3UY9OG4Bx… · Central Sebastopol Location ... The City of Sebastopol

SALE PRICE$1,999,000

PRICE PER SQFT$138.00

TOTAL BUILDING SQ FT14,511± SF

CAP RATE 6.35%

The above information, while not guaranteed, has been secured from sources we believe to be reliable. Submitted subject to error, change or withdrawal. An interested party should verify the status of the property and the information herein.

Medical & Professional Office InvestmentOpportunity with Re-Development Potential@ 7064 Corline Ct. off Gravenstein Highway SouthSebastopol, California County of Sonoma

Rhonda Deringer, Partner1355 N Dutton Ave., Santa Rosa, CA 95401

(707) 528-1400 • Fax: (707) 524-1419Lic #01206401

[email protected]

TABLE OF CONTENTS

SECTION 1 FEATURESSECTION 2 COMMERCIAL PROPERTY INVESTMENT ANALYSIS (Proforma)SECTION 3 RENT ROLLSECTION 4 PARCEL MAPSECTION 5 FLOOR PLANSECTION 6 PHOTOSSECTION 7 AERIALSSECTION 8 REGIONAL OVERVIEW City of Sebastopol Overview Business Location Sonoma County Overview RecreationSECTION 9 ZONING ORDINANCES



Rhonda Deringer, Partner1355 N Dutton Ave., Santa Rosa, CA 95401

(707) 528-1400 • Fax: (707) 524-1419Lic #01206401

[email protected]

FEATURES � 14,511± rentable square feet total consisting of four commercial buildings on a total of 49,658± square feet / 1.14± acres of land.

� 1 parcel with 4 commercial buildings (1 & 2 stories each) and 27+ parking stalls + easement parking lot / stalls.

� Building A: 2,713± rentable square feet of office/medical building with multiple private offices and exam rooms, waiting/reception room, 3 restrooms. Building income at $3,255.60/mo or $1.20 per square foot gross.

� Building B: 7,631± rentable square feet of building (1,313± & 6,318± SF) with multiple suites. The building is currently occupied by two Tenants. Building income at $8,591.25/month or $1.13 per square foot gross (blended).

� Building C: 3,374± rentable square feet of building (2,448± & 926± SF) with two suites. The building is currently occupied by one Tenant and one vacancy. Building income currently at $2,950/month or $1.21 per square foot gross, plus vacancy.

� Building D: 793± rentable square feet of building with one suite. The building is occupied by one Tenant. Building income currently at $1,070.55/month or $1.35 per square foot gross.

� Zoned: CO - Office Commercial - Allows for a variety of commercial uses of the property. Also, the rear 1/3± is zoned RM-H - High Density Multi-Family Residential. Allows for high density residential, community care center or family day care home.

� Medical and professional office buildings.

� Built in 1973. � Exterior stucco and wood construction. Spanish tile roofs and flat in the center of 3 of the buildings with newer HVAC units on the roof. Roofs replaced in 1997.

� Central Sebastopol Location - Located just off Gravenstein Highway South (aka Highway 116).

SALE PRICE PRICE PER SQFT$1,999,000 $138.00

CAP RATE BUILDING SQ FT6.35% 14,511± sf

Vicinity Map



PROPERTY:

Location: Price

Price/psf

Size: Proforma Cap 1 7.06% Description: Current Rent Proforma Rent

Annual NOI $126,909 $141,032 Annual Debt Service ($88,543) ($88,543)

Site: Annual Cash Flow $38,366 $52,488

Zoning: Cash Flow % 5.48% 7.50%

Proforma Rent 1 Proforma Rent 2 Scheduled Gross Income $201,526 $209,521

$4,348 $12,028 Down Payment $699,650 Less Vacancy 5.0% ($10,076) 5.0% ($10,476) Annual Adjusted Income $195,798 $211,073 Loan Amount $1,299,350 Less Expenses ($68,889) ($70,041) Annual NOI $126,909 $141,032 Interest Rate 4.75% Less Annual Debt Service ($88,543) ($88,543) Cash Flow $38,366 $52,488 Amortization (Yrs) 25 Cash Flow % 5.48% 7.50%

Debt Service ($88,543)

SCHEDULED INCOME

Rent/SF Monthly Rent Lease Exp. Rent/SF Taxes $22,389$1.20 $3,255.60 9/30/2021 $1.25 $3,391.25 CAM $44,000$1.25 $1,641.25 10/31/2020 $1.30 $1,706.90 Insurance $2,500$1.10 $6,950.00 mo-mo $1.15 $7,265.70 Sub-total $68,889$1.21 $2,950.00 1/31/2021 $1.25 $3,060.00 Reimbursements $4,348$1.35 $1,071.00 mo- mo $1.40 $1,110.20 Total Expenses $68,889$1.00 $926.00 $1.00 $926.00$0.00 $0.00 Taxes $22,389

Total: $16,793.85 $17,460.05 CAM $45,152Insurance $2,500

Annual Scheduled Annual Projected Sub-total $70,041Monthly x 12 $201,526 Monthly x 12 $209,521 Reimbursements $12,028

Total Expenses $70,041

REMARKS:

The above information and projection is based on data provided by seller and certain assumptions and projections about the future.A prospect should verify information and assumptions to determine applicability and risk.

14,511

926C3-Proforma Proforma 2

A-NB Neuroscience

ACTUAL & PROFORMA INCOME & EXPENSE ANALYSIS. The Leases are Gross Leases, whereas the Tenant pays PG&E, Interior Janitorial, Telephone/Data, Security and the Owner pays Water/Sewer, Trash, Common Area Utilities. Some Tenants pay a CAM Charge each month.

B2-5-Portola Systems

C1-Advanced Skin Care

2,713B1-Dr Cunningham MD

D-Code Source

2,4486,3181,313

793

Lessee

7064 Corline Court, Sebastopol

14,511

1.14+/- Acres / 49,658+/- SF Lot

ANNUAL OPERATING DATA

Monthly RentApprox. SF

Proforma Lease 2

Four (4) Medical & Professional Office Buildings - 1 & 2 Story - 5 Tenants (Projected Rent for Cuite C3).

$137.766.35%

CO (Comm Office) & RM-H (High Density Residential)

KEEGAN & COPPIN COMPANY, INC.Oncor International

Commercial Real Estate Services

Annual Expenses

Loan Data

Proforma 1Proforma Lease 1

COMMERCIAL PROPERTY INVESTMENT

Corline Court, Sebastopol | Analysis | Proforma

Proforma Cap 2

Plus Reimbursement

$1,999,000

RENT ROLL

UNIT TENANTSQ. FT. AREA

MONTHLY RENT RENT/SF

LEASE EXPIRATION

RENT ADJ. OPTIONS

PROJECTED RENT MONTH/PSF

A North Bay Neuroscience Institute 2,713± $3,255.00 $1.20 psf 9/30/21 3% 4 yr $3,391 / $1.25 psf

B1 Dr Thomas Cunningham MD 1,313 ± $1,641.25 $1.25 psf 10/31/20 CPI 3 yr $1,707 / $1.30 psf

B2 Portola Systems 6,318± $6,950 $1.10 psf mo-mo —— —— $7,265.70 / $1.15 psf

C1-2 Advanced Skin Care & Dermatology Inc. 2,448± $2,950 $1.21 psf 1/31/21 —— 1-5 yr $3,060 / $1.25 psf

C3 Projected Vacant 926± $926 $1.00 psf —— —— —— $926 / $1.00 psf

D Code Source 793± $1,071 $1.35 psf mo-mo —— —— $1,110.20 / $1.40 psf

Total ±14,511 Rentable Square Feet (Floor Plans available upon request)(See Commercial Property Investment Analysis)



PARCEL MAP



*NOT TO SCALE

FLOOR PLAN



PHOTOS









AERIALS



CITY OF SEBASTOPOL OVERVIEWThe City of Sebastopol is a small semi-urban community located in California, on the western edge of the Santa Rosa plain. It lies about 60 miles north of San Francisco, 8 miles west of Santa Rosa, 10 miles from Bodega Bay, and 15 miles from the Russian River. The City, incorporated in 1902, currently has a population of about 7,800 people and serves a trade area population in excess of 50,000 people.

BUSINESS LOCATIONRegional highway access to the Sebastopol downtown comes from the Highway 101 corridor via designated scenic State Highways 12 and 116. More than 50,000 residents in West Sonoma County use Sebastopol as their center of commerce for shopping, entertainment, and business. Sebastopol’s downtown is located at the main cross roads to Bodega Bay, the Sonoma coast and the Russian River wine and recreation region. A mix of restaurants, retail shops and professional offices line Sebastopol’s downtown area. The downtown plaza invites residents and visitors alike with local art installations, live music, and, a weekly farmer’s market.

SONOMA COUNTY OVERVIEWHome to approximately 500,000 people, Sonoma County is a prime location for tourism as well as residence. Just a short drive from the San Francisco Bay Area, there are nine incorporated cities in the county. The City of Santa Rosa is the largest in the county with roughly 150,000 residents, and was recently named as one of the nation’s “most livable communities” by Partners for Livable Communities.

Sonoma County’s unemployment rate is one of the lowest in California. The county continues to show long-term job growth in the health care, hospitality and business service sectors,which have seen employment growth improve on a year-over-year

basis. Business and professional services jobs also have increased from a year earlier. In addition, new housing development continues throughout the county, with corresponding growth in jobs and taxable sales.

RECREATIONSonoma County is renowned for its outstanding wineries, breathtaking vistas of the Pacific Ocean, rolling hills, and friendly atmosphere. The landscape is perfect for spending a day at one of the many spas or wine tasting rooms, mountain biking the various trails and country roads, or kayaking down the majestic rivers. The area is also known for its exquisite cuisine, using locally sourced produce from the orchards, gardens, and fields of Sonoma County.

Whether you are looking for a relaxing weekend getaway, or you feel like exploring the outdoors, Sonoma County has something for everyone. Located in the heart of Wine Country, Sonoma County has more than 370 local wineries. There is a wide array of guided tours which explore the county’s culture and history, and offer tastings of the finest wines in the country. When the sun sets, you can continue your relaxing stay at one of the fine resorts in the area. From day spas to beautiful golf courses, Sonoma County has become synonymous with the elegant and relaxing getaway.

MILEAGE FROM SEBASTOPOL

Petaluma 12 miles

San Francisco 57 miles

Sacramento 100 miles

San Rafael 40 miles

Napa (city) 44 miles

Sonoma (city) 25 miles

Healdsburg 15 miles

Bodega Bay 16 miles

Santa Rosa 8 miles



ZONING CODE

Documents

Medical Professional Office Inestment Opportunity ith Re ...images2.loopnet.com/d2/TPUPPF9hZg3qJ-Z5MbF2f3xcu5l3UY9OG4Bx… · Central Sebastopol Location ... The City of Sebastopol