Property Description

The Subject Property is a one story free-standing commercial building consisting of approximately 5,360 sq. ft. of improvements situated on approximately 20,090 sq. ft. of land.  The Subject Property was constructed in 2003 and consists of 5 tenants:  a sit down Chinese restaurant with an outdoor patio, an auto accessories store, hair salon, dental clinic, and a bakery.  There are 28 on surface parking spaces with excellent ingress and egress access from Cypress Street and North Lark Ellen Avenue.  The Subject Property is on as high traffic signalized intersection with a traffic count of approximately 34,000 cars per day.  There is good pedestrian foot traffic as the Subject Property located directly across the street from an elementary school and just down the street from a high school.

All of the spaces have wide store fronts providing excellent visibility.  The Chinese restaurant occupies approximately 1,500 sq. ft. and each additional tenant occupies approximately 965 sq. ft.  In this marketplace, there was an extremely strong demand from local tenants who wanted to occupy smaller spaces for their businesses.

The Chinese restaurant, Rice Express, invested a substantial amount of money building out a beautiful, first class sit down restaurant.  The owner is an experienced restaurant operator who has previously owned other restaurants.  The auto accessories store is a new business by an owner who previously worked at other retail automotive related stores.  The hair salon is currently under construction and should be opened by the end of May 2004.  The owner of the hair salon also operates another business in the local area.  The dental office invested a substantial amount of money building out a first class dental clinic that will serve the local community.  In addition to her establishing her own private dental practice at the Subject Property, the owner of the dental clinic also works at another dental clinic in the area. The bakery is currently under construction and should also be opened by the end of May 2004.  The owner of the bakery owns and operates a successful bakery in a shopping center in El Monte.  This will be their second location and they anticipate doing very well especially being located adjacent to a very busy 7-11 convenience store.  In addition, the bakery space has over 25 feet of retail frontage.

All of the Lease Agreements are “AIR Standard Industrial/Commercial Multi-Tenant Lease-Net” and all contain rental increases during the term (See Rent Roll). In addition, there are strict exclusive use provisions and/or restrictions within the leases in order to prevent any conflicting uses and maintain a synergistic tenant mix.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.