NNN INVESTMENT PROPERTY FOR SALE 811-813 FAIR OAKS AVENUE, SOUTH PASADENA
(immediately south of Wild Thyme Restaurant) Description:
Freestanding commercial storefront building with 2 credit tenants.
6,084 SF (with connecting lower level storage for both tenants) Assessors Parcel Number: 5315-002-038
813 Fair Oaks Avenue (RadioShack - 3,270 SF) (Current lease term expires 1/31/2012, with four (4) five (5) year options through 9/30/2021) Current rent is $3,570/month, NNN through 1/31/2012. If notice is given by Tenant by 9/30/2011, the rent increases on 2/1/2012 to $4,360.00/mo., NNN If notice is given by Tenant by 9/30/2016, the rent increases on 2/1/2017 to $5,177.50/mo., NNN If notice is given by Tenant by 9/30/2021, the rent increases on 2/1/2022 to $5,995.00/mo., NNN 811 Fair Oaks Avenue (Cake Sensations - 1,800 SF plus approx. 1,014 SF of lower level storage) (Current lease term expires 4/3/2011, with one (1) five (5) year option through 9/30/2021) Current rent is $4,252.50/month, NNN through 4/30/2011. If notice is given by Tenant between 11/2010 and 1/2011, the rent increases on 5/1/11 to $4,465.13/mo., NNN Current Annual Operating Expenses: <$31,122> (management, insurance, taxes, occasional roof repairs, cleaning gutters/downspouts, etc.) New property taxes will be approx. 0125% of sales price. Heating and air conditioning units are regularly serviced and there is a new roof.
Call for pricing information. See next page for Demographic and Traffic information, and nearby anchors.
Contact: John E. Alle 310 990-7124 (cell)
811-813 FAIR OAKS AVENUE SOUTH PASADENA, CA
Adjacent to Wild Thyme Restaurant, across the street from new Comerica Bank and within walking distance to Bristol Farm Market, Rite Aid, Bank of America, Wells Fargo, Chase Bank, FedEx/Kinko’s and Vons.
Also, within walking distance to many offices and the following restaurants --* Coffee Bean & Tea Leaf * Baskin Robbins
* Panda Express * Gus’s Barbeque
* McDonald’s *Starbucks
* Jamba Juice * Papa John’s
Traffic Count along Fair Oaks Avenue:
35,000 cars per day
2009 Population 2009 Avg HH income 2009 Daytime Population
27,804 $125,880 15,160
272,956 $78,259 162,019
775,066 $73,562 295,554
Contact: John E. Alle 310 990-7124 (cell) 626 795-1511 (office) All information contained herein is from sources deemed reliable but has not been verified and is submitted without any warranty or representation, expressed or implied, as to its accuracy, and John Alle Company assumes no liability for errors or commissions of any kind, change of price, rental or other conditions, including, without limitation, prior sale, lease or financing or withdrawal without notice. This presentation is for information only and under no circumstances whatsoever is to be deemed a contract, note, memorandum or any other form of binding commitment.