114 afton court - loopnet

CONFIDENTIAL OFFERING MEMORANDUM

Columbia, SC

114 Afton Court

Bobby Balboni Broker

[email protected]

+1 803 744 9846

Patrick Palmer, CCIMDirector of Retail Services & Principal

[email protected]

+1 803 556 3340

Investment Overview 03 Executive Summary

Market Overview 08 Demographics

Property Overview 04 Retail Aerial

05 Aerial

Tenant Overview 07 Tenant Summary

TABLE OF CONTENTS EXCLUSIVELY LISTED BY

Financial Overview 06 Rent Roll

Disclaimer 09 Disclaimer

mailto:rschmidt%40furmancap.com%20?subject=

3 . 114 Afton Court | Columbia, SC

INVESTMENT OVERVIEW

Address114 Afton Ct

Columbia, SC 29212

Total GLA ±5,500 SF

Total Land Size ±1.13 Acres

Year Built 2009

Parking 72 Spaces

Total Rent $102,000

NOI $76,786.46

Cap Rate 6.40%

List Price $1,200,000

Tenant Don Tequilas Mexican Grill & Cantina

Lease Type MG

Taxes/CAM/Insurance Tenant Responsibility

Roof/Structure Landlord Responsibility

Original Lease Term 7 Years

Lease Commencement Q4 2015

Rent Increases 12% increase in November 2020

Renewal OptionsOne option remaining

with periodic increases

FINANCIAL SUMMARY

DON TEQUILAS LEASE SUMMARYPROPERTY SUMMARY

Execut ive Summary

• Harbison Boulevard is Columbia’s premier retail corridor located approximately 10 miles from the Central Business District

• Seating capacity of 200• One 7-year renewal option at $114,000 annual rent that

includes two scheduled increases• Tenant is responsible for maintaining exterior & interior

including HVAC

INVESTMENT HIGHLIGHTS


PROPERTY OVERVIEWRetai l Aer ia l

!( MUV Fitness

!(

High Point CentrePapa Johns | Grouchos Deli

!(

Columbiana on ParkUlta | Staples | DSW

Homegoods!(Harbison Hill

Mattress Firm | Jimmy John's | Nothing Bundt Cakes!(

945 Lake MurrayMoes Southwest Grill | Smoothie King

Bruegger's Bagels

!(

Ameris

!(

Regions

!(TD Bank

!(

First Citizens

!(

South State Bank

!(

First Community

!(

Bank of America

!(All South

!(

Wells Fargo

!(BB&T

")

Kohls

")

JoS. A. Bank

")

Ashley Furniture

")

Sam's

")

Best Buy

")

Value City Furniture

")

Haverty's Furniture

")

Men's Wearhouse

")Guitar Center

")Ethan Allen

")

Costco

")

Lowes

")

Home Depot!(

Suite One108 Rooms

!(

Hyatt Place127 Rooms

!(

Tru by Hilton85 Rooms

!(TownePlace Suites

!(

Town Place Suites89 Rooms

!(Hilton Garden Inn143 Rooms

!(

Home2 Suites by Hilton92 Rooms

!( Extended Stay Deluxe87 Rooms

!(

Holiday Inn Express83 Rooms

!(

Residence Inn100 Rooms

!(

Fairfield Inn84 Rooms

!(

Hampton Inn112 Rooms

!(

Comfort Inn85 Rooms

!(

Aloft100 Rooms

")

Walmart

!(

CVS: Minute Clinic

!(

Hooters | Applebees

!(

Maurices

!(

Bellacinos

!(

Miyabi Kyoto!(

Urban Cookhouse

!(

Texas Roadhouse

!(

Rioz Brazilian Steakhouse

!(

BJ's Restaurant & Brewhouse

!(

Bistro on theBoulevard

!(

Longhorn Steakhouse

!(

Buffalo Wild Wings!(

Wild Crab Seafood

!( Cracker Barrel

!(

Marco's Pizza | Dunkin

!(

Ruby Tuesday

!( McAllister's

!(

Flamin Grill

!(

Chick-Fil-A

!(

Blaze Pizza

!(

Salsarita's

!(

Carrabbas

!(

McDonalds

!(

Taco Bell

!(

M Kitchen

!(

Starbucks

!(

Del Taco | Bojangles

!(

Fazolis

!(

Yamato

!(

Dennys

!(

Subway

!(

Zaxbys

!(

Wendys

!(Arbys

Columbiana Centre788,103 SF Retail Space

Harbison Center187,975 SF Retail Space

Columbiana Station I296,322 SF Retail Space

Harbison Court301,071 SF Retail Space

Columbiana Station435,532 SF Retail Space

Palmetto HealthParkridge

Woodrow

St

£¤176

§̈¦26

Broad River Rd

Harbiso

n Blvd

Saint Andrews Rd

Lake Murray Blvd

Lake Murray Blvd

!(Irmo Middle

931± Students

!(Harbison West Elementary596± Students

!(Crossroads Middle

793± Students

!(

Irmo Elementary506± Students

!(Irmo High

1439± Students

Subject^


PROPERTY OVERVIEWAeria l


FINANCIAL OVERVIEWRent Rol l

Square Footage Start Termination

Rental Increase Date Base Rate Taxes Ins HOA

Monthly Base Rent

Monthly TICAM's

Total Monthly Rent NOI

Annual TICAM's Total Rent

Original Term 5,500 11/1/2015 10/31/2020 18.55$ (4.33)$ -$ (0.26)$ 8,500.00$ (2,101.13)$ 6,398.87$ 76,786.46$ (25,213.54)$ 102,000.00$ First Increase 5,500 11/1/2020 10/31/2022 20.73$ (4.33)$ -$ (0.26)$ 9,500.00$ (2,101.13)$ 7,398.87$ 88,786.46$ (25,213.54)$ 114,000.00$ First Option Period 5,500 11/1/2022 10/31/2024 20.73$ (4.33)$ -$ (0.26)$ 9,500.00$ (2,101.13)$ 7,398.87$ 88,786.46$ (25,213.54)$ 114,000.00$ Second Option Period 5,500 11/1/2024 10/31/2027 21.82$ (4.33)$ -$ (0.26)$ 10,000.00$ (2,101.13)$ 7,898.87$ 94,786.46$ (25,213.54)$ 120,000.00$ Third Option Period 5,500 11/1/2027 10/31/2029 22.91$ (4.33)$ -$ (0.26)$ 10,500.00$ (2,101.13)$ 8,398.87$ 100,786.46$ (25,213.54)$ 126,000.00$ * One Option of 7 years that includes two scheduled increases

Totals 5,500 76,786.46$ (25,213.54)$ 102,000.00$

Sales Price 1,200,000CAP Rate Full Occupied 6.40%


TENANT OVERVIEWTenant Summary

Harbison Facts:

Harbison Boulevard is located approximately 10 miles from the City of Columbia

Harbison Boulevard is Columbia’s premier retail corridor with prominent brands including Target, Walmart, JCPenney and Dillard’s

Traffic Counts: 32,000 VPD Harbison Boulevard (Station 749)

Harbison Boulevard is located just off of Interstate 26 and U.S. Route 6

Fast Facts:

Don Tequilas Mexican Grill & Cantina has a upbeat atmosphere and the restaurant features themed nights such as, Friday Salsa Nights.

The food menu encompasses traditional favorites with unique offerings that are sure to satisfy any cravings.

A notable dish is the Tequilas Bowl filled with rice, black beans, veggies, pico de gallo, avocado, and chicken, steak or shrimp, grilled.

Find out more here.

https://www.experiencecolumbiasc.com/blog/post/hidden-gems-to-get-your-mexican-food-fix-in-columbia-sc/#don-tequilas-mexican-grill-and-cantina


MARKET OVERVIEWDemographics

POPULATION TRENDS5-Mile

103,580 2019 (5-Mile)

2010 95,150

2019 103,580

2024 108,977

HOUSEHOLD TRENDS5-Mile

2010 37,226

2019 40,402

2024 42,539

40,402

AVERAGE HOUSEHOLD INCOME2019

1-Mile $66,283

3-Miles $71,920

5-Miles $78,292

$78,292 2019 (5-Mile)

DAYTIME POPULATION2019

1-Mile 14,842

3-Miles 58,626

5-Miles 105,581

MEDIAN AGE5-Mile

2010 35,7

2019 37.4

2024 38.3

2019 (5-Mile)

20

18

Esr

i

114 Afton Court Columbia, SC

37.4 2019 (5-Mile)105,581 2019 (5-Mile)


This Offering Memorandum contains select information pertaining to the business and affairs of the property located at 114 Afton Court,

Columbia, SC 29212 (“Property”). It has been prepared by NAI Columbia (“Agent”). This Offering Memorandum may not be all-inclusive or

contain all of the information a prospective purchaser may desire. The information contained in the Offering Memorandum is confidential

and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose

or made available to any other person without the written consent of Owner or Agent. The material is based in part upon information

supplied by the Owner and in part upon financial information obtained from sources it deems reliable. The Owner, nor their officers,

employees, or agents make any representation or warranty, express or implied, as to the accuracy or completeness of this Offering

Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers

should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct

their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;

2. You will hold it and treat it in the strictest of confidence; and

3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum

or its contents in any fashion or manner detrimental to the interest of the Owner.

Owner and Agent expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the

Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the

Property unless and until a written agreement for the purchase and sale of the Property has been fully executed by all parties and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then

you agree to purge all materials relating to the Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided

herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement

and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Agent or any

of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or

cause of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there

has been no change in the state of affairs of the Property since the creation of this Offering Memorandum.

DISCLAIMER

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