REGENCY INN HOTEL 510.290.0001 TIMSETIA1@GMAIL.COM TIM SETIAWAN BROKER ASSOCIATE | DRE# 01981909 BROKER‘S OPINION OF VALUE 411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 KW Commercial - Oakland DRE#: 02029039 REGENCY INN HOTEL
TIM SETIAWAN
BROKER ASSOCIATE | DRE# 01981909
510.290.0001 TIMSETIA1@GMAIL.COM
TABLE OF CONTENTS
All materials and information received or derived from KW Commercial Oakland, its directors, officers, agents, advisors, affiliates, and/or any third party sources are provided without representation or warranty as to completeness, veracity or accuracy, condition of the property, compliance, or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial Oakland, its directors, officers, agents, advisors, or affiliates make any representation or warranty, express or implied, as to accuracy or completeness of any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial Oakland/KW Commercial East Bay will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial Oakland makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial Oakland does not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including those used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at, or increased to that level. Parties must evaluate any applicable contractual and governmental limitations, as well as market conditions, vacancy factors, and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW Commercial Oakland in compliance with all applicable fair housing and equal opportunity laws.
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 2
EXECUTIVE SUMMARY FINANCIAL ANALYSIS HOSP - ADR REV PAR STATS MF - PENINSULA 6 MOS PROPERTY PHOTOS LOCATION HIGHLIGHTS SITE ATTRACTIONS 03 06 22 26 29 33 34 KW Commercial - Oakland DRE#: 02029039
EXECUTIVE SUMMARY
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
PROPERTY SUMMARY & ZONING
REGENCY INN HOTEL
TOD-1 Medium Density Mixed-Use
Residential Uses
Public and Quasi-Public Uses
• Day Care Center
• Home Day Care (small/large)
Commercial Uses
021-186-290
• Banks/Financial services
• Bars, nightclubs and lounges (C)
• Business services
• Commercial recreation and entertainment (C)
• Health and exercise clubs (C)
• Office
• Outside dining
• Personal services
• Pet day care facility
• Research and Development
• Retail Sales
• Restaurant
Transportation, Communication, and Utilities Uses
• Utilities, Minor
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 4
Hospitality 10,600 SF 15,000 SF 1963
Property Type: Building Size: Lot Size: Year Built:
APN:
PROPERTY HIGHLIGHTS
(31) Total units/rooms
2-Stories
(26) Private property parking spaces
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 5
FINANCIAL ANALYSIS
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
Hospitality
PROPERTY VALUATION
“Sales projections are based on initial available property information and can be subject to change based on site visits and other available property information.”
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 7
El Camino Real - Hotel Aura 2022 P&L SF ADR Proforma Proforma
190
Building SF 10,600 Lot SF 15,000 ADR ADR Daily 100% No. of rooms 31 $118 $130 $4,030 Income Monthly Annual Annual $909,512 $1,470,950 Occupancy Occupancy 53.30% 86.01% Gross Income $75,793 $909,512 $1,265,164 Expenses $69,611 $835,333 $835,333 Net Operating Income $6,182 $74,179 $429,831
Past Sales: 1 Year ( 19 Properties) Sale Projections $/Key $/SF Cap Rate (*1) $/Key $/SF Cap Rate Proforma Adjusted Sales Price Low $40,442 $151 2.47% Sales Price $7,130,000 $5,035,000 $3,003,198 $8,596,622 $5,941,205 Average $206,150 $407 3.55% Cap Rate 1.04% 1.47% 2.47% 5.00% 1.25% Median $192,066 $384 3.51% $/SF $673 $475 $283 $811 $560 High $443,787 $944 5.25% NOI $74,179 $74,179 $74,179 $429,831 $74,179 $/Key $230,000 $162,419 $96,877 $277,310 $230,000 Projected $230,000 $475 2.47%
Proforma: Projected Future Rents (Multifamily)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 8
Past Sales: 1 Year (34 properties) Sale Projections $/Unit (25) Cap Rate (17) GRM $/SF $/SF $/Unit Cap Rate Proforma Adjusted Sales Price Low $88,130 2.70% 10.07 $78.98 Sales Price $5,830,000 $11,542,602 $1,941,859 $11,185,481 $9,017,640 Average $372,342 3.96% 15.82 $420.33 GRM 7.30 12.69 2.43 12.40 10.00 Median $400,000 3.82% 16.75 $452.53 Cap Rate 9.59% 4.85% 3.82% 5.00% 6.20% High $666,667 5.56% 18.85 $1,220.83 $/SF $550 $1,089 $183 $1,055 $851 $/Unit $188,065 $372,342 $62,641 $360,822 $290,892 Projected $372,342 3.82% 15 $550.00
PROPERTY VALUATION Multifamily
Area Rents Monthly Annual All Units Parking Gross Rents Vacancy Gross Rent w/ Adj. Vacancy Studio $2,187 $26,244 $813,564 $88,200.00 $901,764 11.40% $798,963 1 Bedroom $2,263 $27,156 $841,836 $88,200.00 $930,036 11.40% $824,012 NOI Est. expenses Studio 30% $239,688.87 Est. expenses 1 Bd 30% $247,203.57 Studio NOI $559,274.03 1 Bd NOI $576,808.33
PROPERTY VALUATION
Primary guiding unit value
Estimated unit value position
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 9
Land Land Estimated Renovation Cost Estimated Ground-up Building Cost Estimated Total Build Cost $/SF - Sold $/SF $/Unit $/SF Low $14 Sales Price $4,500,000 $1,550,000 $7,420,000 $11,920,000 Average $337 $/SF $300 $50,000 $700 $1,124.53 Median $225 $/Unit $384,516 High $2,000 Estimated $300.00 Legend
Multifamily
INVESTMENT SALES ANALYSIS
Gains Proforma
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 10
Hospitality Sale Price Estimated Conversion Cost Proforma Sales Price $5,941,205 $1,550,000 $6,850,000 $6,850,000 $8,596,622 Cap Rate 1.25% 1.08% 6.27% 5.00% $/SF $560 $646.23 $811 NOI $74,179 $74,179 $429,831 $429,831 $/Key $230,000 $220,968 $277,310
Estimated
Sales Price $9,017,640 $5,463,923 $18,938,923 GRM 10.00 15.56 NOI 6.20% 4.50% $/SF $851 $447 $/Unit $290,892 $386,509 Land Estimated Build Cost $11,920,000 $/SF $1,125 $/unit $384,516
SOLD COMPARABLES (HOSPITALITY)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 11
1 2 3
2 2515 EL CAMINO REAL GRANADA INN
3 4234 EL CAMINO REAL AMERICAS BEST VALUE INN SKY RANCH
1 245 S. AIRPORT BLVD. PARK POINTE HOTEL
SOLD COMPARABLES (HOSPITALITY)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 12 Park Pointe Hotel Americas Best Value Inn Sky Ranch Granada Inn 245 S. Airport Blvd. 4234 El Camino Real 2515 El Camino Real South San Francisco Palo Alto Santa Clara 1 1 1
Sales Price $47,000,000 Bldg. SF 189,060 $/SF $249 $/Unit $145,511 Units 323 DOA 19 Lot SF 261,796 Lot $/SF $179.53 Sales Price $8,500,000 Bldg. SF 9,278 $/SF $916 $/Unit $293,103 Units 29 DOA 30 Lot SF 21,780 Lot $/SF $390.27 Sales Price $12,950,000 Bldg. SF 34,148 $/SF $379 $/Unit $190,441 Units 68 DOA 451 Lot SF 55,757 Lot $/SF $232.26
SOLD COMPARABLES (MULTIFAMILY)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 13
1 2 3 4
2 70 RENATO CT. ATHERTON GREEN
4 101 EASTMOOR AVE. EASTMOOR APARTMENTS
3 1056 CONTINENTALS WAY HUTTON TERRACE APARTMENTS
1 3085 MIDDLEFIELD RD. WELLSBURY APARTMENTS
SOLD COMPARABLES (MULTIFAMILY)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 14 Wellsbury Apartments Hutton Terrace Apartments Atherton Green Eastmoor Apartments 3085 Middlefield Rd. 1056 Continentals Way 70 Renato Ct. 101 Eastmoor Ave. Palo Alto Belmont Redwood City Daly City 1 3 2 4
Sales Price $20,000,000 Bldg. SF 25,854 $/SF $774 $/Unit $666,667 Units 30 Sold Date Apr-23 Vacancy 0.7% Sales Price $12,000,000 Bldg. SF 25,668 $/SF $468 $/Unit $500,000 Units 24 Sold Date Feb-23 Vacancy 4.90% Sales Price $24,035,500 Bldg. SF 34,360 $/SF $700 $/Unit $471,284 Units 51 Sold Date Mar-23 Vacancy 53.90% Sales Price $22,500,000 Bldg. SF 51,718 $/SF $435 $/Unit $288,462 Units 78 Sold Date Dec-22 Vacancy 0.50%
SOLD COMPARABLES (LAND)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 15
1 2 3 4
2 2 W 3RD AVE.
4 777 AIRPORT BLVD. (RED ROOF INN)
3 2 PARK ROAD
1 732 EL CAMINO REAL
SOLD COMPARABLES (LAND)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 16 732 El Camino Real 2 Park Road 2 W 3rd Ave. 777 Airport Blvd. (Red Roof Inn) San Bruno Burlingame San Mateo Burlingame 1 3 1 4 Sales Price $6,000,000 Lot size 26,659 $/SF $225 Sales Price $14,500,000 Lot size 27,878 $/SF $520 Sales Price $4,950,000 Lot size 11,500 $/SF $430 Sales Price $34,000,000 Lot size 134,165 $/SF $253
FOR SALE (HOSPITALITY)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 17
1 2 3 4
2 20 AIRPORT BLVD. LA QUINTA INN & SITES
4 670 GATEWAY BLVD. HILTON GARDEN INN
3 1250 BAYSHORE HWY HOLIDAY INN EXPRESST
1 350 N. BAYSHORE BLVD. SFO AIRPORT SOUTH HOTEL
FOR SALE (HOSPITALITY)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 18 SFO Airport South Hotel Holiday Inn Express Hilton Garden Inn La Quinta Inn & Sites 350 N. Bayshore Blvd. 1250 Bayshore Hwy 670 Gateway Blvd. 20 Airort Blvd. San Mateo Burlingame South SF South SF 1 3 4 2 Sales Price $4,422,169 Bldg. SF 22,040 $/SF $201 $/Unit $94,089 Units 47 Sold Date Jun-21 Lot SF 53,579 Lot $/SF $82.54 Sales Price $16,239,500 Bldg. SF 74,445 $/SF $218 $/Unit $111,229 Units 146 Sold Date Dec-21 Lot SF 120,659 Lot $/SF $134.59 Sales Price $75,000,000 Bldg. SF 90,137 $/SF $832 $/Unit $443,787 Units 169 Sold Date May-22 Lot SF 123,066 Lot $/SF $609.43 Sales Price $31,020,000 Bldg. SF 105,578 $/SF $294 $/Unit $181,404 Units 171 Sold Date Jan-23 Lot SF 215,282 Lot $/SF $144.09
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 19
1 2 3 4
FOR SALE (MULTIFAMILY & LAND)
2 970 MAGNOLIA AVE.
4 850 GLENVIEW DR.
3 271 EL CAMINO REAL
1 1404 FLORIBUNDA AVE. FLORIBUNDA APARTMENTS
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 20
Floribunda Apartments
970 Magnolia Ave.
271 El Camino Real
271 El Camino Real 1 1 3 4
3085 Middlefield Sales Price $32,400,000 Bldg. SF 27,894 $/SF $1,162 $/Unit $810,000 Units 40 DOA 40 Lot SF 42,253 Lot $/SF $766.81 Cap Rate 2.53%
Rd. Sales Price $6,485,000 Bldg. SF 14,354 $/SF $452 $/Unit $540,417 Units 12 DOA 12 Lot SF 15,398 Lot $/SF $421.16 Cap Rate 4.24%
Millbrae San Bruno San Bruno Sales Price $5,690,000 Lot size 25,030 $/SF $227 DOA 442
Burlingame Sales Price $15,000,000 Lot size 142,877 $/SF $105 DOA 212
FOR SALE (MULTIFAMILY & LAND)
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 21
EXCHANGE City Sales Price Bldg. SF $/SF Cap Rate Rooms $/Key NOI Loan Interest rate Amort Monthly Mortgage Annual Mortgage Cash Flow Current Cash Flow Add'l Cash Flow 1900 Canterbury Rd. SureStay Plus Hotel Sacramento Expo Sacramento CA $14,000,000 61,623 $227 9.07% 152 $92,105 $1,269,800 $8,415,267 6.25% 25 $55,513 $666,155 $603,645 $74,179 $529,466 2515 El Camino Real Granada Inn Santa Clara CA $12,950,000 34,148 $379 7.04% 68 $190,441 $911,680 $7,365,267 6.25% 25 $48,586 $583,037 $328,643 $74,179 $254,464 620 W. Orangewood Ave. Queens Inn Anaheim CA $10,495,000 25,072 $419 9.16% 63 $166,587 $961,342 $4,910,267 6.25% 25 $32,392 $388,698 $572,644 $74,179 $498,465 337-339 1/2 N. Brand Blvd Hotel Brandwood Glendale CA $9,650,000 20,666 $467 8.61% 38 $253,947 $830,865 $4,065,267 6.25% 25 $26,817 $321,808 $509,057 $74,179 $434,878 21501/21503 Hawthrone Blvd. Del Amo Crossing Torrance CA $27,025,000 44,671 $605 7.00% 63 $428,968 $1,891,750 $21,440,267 6.25% 25 $141,435 $1,697,219 $194,531 $74,179 $120,352 $27,025,000 7.94% 63 $428,968 $2,146,951 $21,440,267 6.25% 25 $141,435 $1,697,219 $449,732 $74,179 $375,553 1583 State Highway 99 Rite-Aid Gridley CA $6,500,000 15,000 $433 7.25% N/A N/A $471,250 $915,267 6.25% 25 $6,038 $72,453 $398,797 $74,179 $324,618
1031
HOSP - ADR REV PAR STATS
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 23
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 24
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 25
MF - PENINSULA 6 MOS
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 27
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 28
PROPERTY PHOTOS
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
LOCATION
HIGHLIGHTS 411 SAN BRUNO AVE. E SAN BRUNO, CA 94080
AREA HIGHLIGHTS
SAN BRUNO, CA
San Bruno, California is a vibrant city located in the San Francisco Bay Area. Situated just south of San Francisco, San Bruno offers a convenient location with easy access to the bustling urban center and the natural beauty of the surrounding region. It is an ideal place for real estate investment, offering a range of housing options and a strong housing market.
#28
San Bruno is known for its diverse community, excellent schools, and a thriving economy. The city is home to a mix of residential neighborhoods, commercial areas, and recreational spaces. It offers a suburban atmosphere with a touch of urban convenience, making it an attractive destination for families and professionals alike.
#59
of 528
#163
of 528 of 528
Best Suburbs for Young
Professionals in California
Most Diverse Suburbs in California
Best Suburbs to Live in California
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 34
AREA HIGHLIGHTS
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 35
Golden Gate Park
San Bruno City Park
Golden Gate Bridge
San Francisco International Airport
Peninsula Museum of Art
Walk Score
San Bruno is Somewhat Walkable
Some errands can be accomplished on foot.
Bike Score
San Bruno is Somewhat Bikeable
Minimal bike infrastructure.
411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 | 36 35
56
REGENCY INN HOTEL OFFERING MEMORANDUM 411 SAN BRUNO AVE. E SAN BRUNO, CA 94080 KW Commercial - Oakland DRE#: 02029039 REGENCY INN HOTEL 510.290.0001 TIMSETIA1@GMAIL.COM TIM SETIAWAN BROKER ASSOCIATE | DRE# 01981909