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3225 ADELINE STREET, BERKELEY MIXED-USE BUILDING TEAM: JASON MOCHIZUKI, SAFEI GU, FEI ZHAO.

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Presentation on theme: "3225 ADELINE STREET, BERKELEY MIXED-USE BUILDING TEAM: JASON MOCHIZUKI, SAFEI GU, FEI ZHAO."— Presentation transcript:

1 3225 ADELINE STREET, BERKELEY MIXED-USE BUILDING TEAM: JASON MOCHIZUKI, SAFEI GU, FEI ZHAO

2 Basic Info. of 3225 Adeline Street, Berkeley Mixed use: retail, office, and residential uses Building Size: +/- 5,874 sq. ft. Lot Size: +/- 4,870 sq. ft. Sale Price: $1,300,000

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4 Price:$1,300,000 Year Built:2004 Building Size:5,874 SF Lot Size:4,870 SF Price/SF:$221.31 FAR:1.21 Stories:3 Ground Floor:1,874 SF Commercial Space w/ open floor plan Level 2:2,000 SF with 2 private offices and conference room Level 3:2,000 SF with 3 bed/2 bath apt Roof:Roof deck with panoramic views 3225 Adeline Street, Berkeley, CA

5 Elevator Pitch Located at 3225 ADELINE STREET, BERKELEY Mixed use - Retail, office, and residential uses. Rent growth: 8.1% YOY in 2012 with 10% projected in 2013! Great neighborhood: amenities in Adeline Arts corridor in Downtown Berkeley High education level and cultural/racial diversity, opens multiple business options for retail. Transit: yields to more traffic and potential customers 0.1 miles from Ashby BART Walk Score: 94, Bike Score: 94 Close to Ed Roberts Campus, which. Property’s commercial value: Street-corner position raises potential value for retail use. Good lighting conditions because of its streetside east and south facade. Roof Top Deck: Possible commercial use as an extension of ground floor retail or tenant garden Potential weakness: Noise for residential use? Distance from campus? Competitors? Street-corner location-not so advantageous considering major customers coming from the direction of UCB main campus?

6 Although the street-corner location might be advantageous for retail use, customers coming from UCB will visit the site from north, which weakens the commercial value of its south side of the corner. Market Forces: Changes to building costs, cap rates, or rent growth assumptions could jeopardize feasibility. Unexpected Costs: Unknown building issues could arise without an on-site inspection of property. Mixed Use: Property has retail, office, and residential uses Roof Top Deck: Possible commercial use as an extension of ground floor retail or tenant garden Neighborhood shows high education level and cultural/racial diversity, opens multiple business option for 1 st floor commercial use. Street-corner location raises potential commercial appreciation for retail use. Distance from Campus: Approximately 2.7 miles from central UC Berkeley. When compared to other commercial and residential real estates, its location is not as competitive as those closer to UCB campus. If the second and third floors will be residential use, the noise pollution from the two adjacent roads will be a weakness for future renting or selling. Transit: 0.1 miles from Ashby BART Rent Growth: 8.1% YOY in 2012 with 10% projected in 2013! Great Neighborhood: amenities in Adeline Arts corridor in Downtown Berkeley Good lighting conditions because of its streetside east and south facade. Close to Ashby BART and Ed Roberts Campus, which yields to more traffic and potential customers. Walk Score: 94 Bike Score: 94 StrengthsWeaknesses Threats Opportunities


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