13020-13026 Sherman Way

.The property is 100% occupied with three tenants generating $21,440/month in gross income. All three tenants — Kidz Kingdom, Van Bakery, and SimpleFloors — have been operating at this location since before 2008. These are seasoned operators with over 15 years of continuous tenancy at this address. Van Bakery has a fully built-out commercial kitchen. Two of the three tenants are month-to-month; Van Bakery holds an active lease through 3/1/2028. All rents are below market and are structured as gross leases — the owner is currently absorbing all operating expenses. Lessor reserves the right to pass through NNN/operating expenses to tenants per the leases, representing additional income upside for a new owner. Seller financing and Loan assumption may be available — contact broker for details. Two of the three tenants are month-to-month so an owner-user to occupy 51% or more of the building and access SBA financing with as little as 10% down. For an investor, the property generates day-one income at 100% occupancy with an in-place cap rate of 3.48%* and a proforma cap rate of 5.42%‡ if the investor passes 100% of operating expenses to tenants (NNN) following a $100K renovation plan.