124 E 17TH ST Costa Mesa CA 92627

CBRE Investment Properties has been retained by Ownership as the exclusive marketing advisor for the sale of the Floyd' s 99 Barbershop net lease offering located at 124-126 E 17th Street in Costa Mesa, Orange County, CA ( the Property ). With nine years remaining on a NNN lease, the Property features corporate Floyd' s 99 Barbershop (100+ locations) on a master lease for the entire premises, with another national tenant, UBREAKIFIX (320+ locations), owned/operated by one of Floyd' s principals, subleasing a small portion of the building. Allowing for Floyd' s future expansion potential, the NNN lease ensures Floyd' s is 100% responsible for all rental payments to Ownership as well as all operating expenses, building repairs and maintenance.

The Property is situated less than 100 yards from the 87,500 cars driving by daily along Newport Blvd, providing quick access to the 55 Freeway (128,000 CPD). E 17th Street is a very popular traffic route for Eastside Costa Mesa residents and visitors alike heading back to the 55 Freeway with cars frequently piling up in front of the Property. Costa Mesa is one of CA' s most dynamic cities and the area surrounding the Newport Blvd/17th Street intersection is a major retail hub featuring multiple grocery anchored shopping centers (Vons, Ralphs, Sprouts, Trader Joe' s), as well as extensive restaurant, shopping and entertainment destinations.

124-126 E 17th Street presents a tremendous opportunity to purchase a fully renovated, long term net leased asset in a highly sought after coastal market, strategically located in the area' s most heavily traveled retail corridor.

• Floyd’s 99 Barbershop Corporate Lease- NNN lease is backed by Floyd’s corporate operating company. Nationally, Floyd’s has over 100 locations with 27+ throughout Southern California.
• No Management Responsibilities- True NNN lease with Floyd's 100% responsible for all operating expenses, maintenance and repairs for the building and premises.
• Strong Rent Increases- The lease features 12% rent increases every 5 years including the option periods.
• Prime Coastal Orange County Property-  Ideally situated on E 17th Street in the heart of Costa Mesa’s retail corridor, servicing residents/visitors from neighboring Newport Beach and Corona Del Mar.
• Extremely Affluent Demographics- 155,000 residents with an average household income of $121,737 and average housing value of $879,000 within three miles.
• Highly Visible/Easily Accessible Location- Less than 100 yards to Newport Blvd (87,500 CPD) and 0.6 miles from the 55 Freeway (128,000 CPD), the Property benefits from its noteworthy location in an established trade area.
• Fully Renovated Property- The Property was fully renovated in 2016, including a new roof, HVAC systems and notable tenant improvements.
• Ideal 1031 Exchange- With a long-term NNN lease in one of Orange County’s strongest retail markets, the Property is a perfect 1031 exchange for investors focused on long-term value appreciation.