for sale investment property - loopnet...14,723 sf multi-tenant retail investment property recent...

[email protected] #155972

Thomas Auer

PROPERTY HIGHLIGHTS

14,723 sf Multi-Tenant Retail Investment Property

Recent Tenant Renewals

Priced below replacement cost

Offered at a 7.25% cap

PRESENTED BY:

FOR SALE

All SVN® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

INVESTMENT PROPERTY2515 W. Roosevelt Boulevard | Monroe, NC 28211

All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 2

PROPERTY NAME: Roosevelt Center

PROPERTY ADDRESS: 2515 W. Roosevelt BoulevardMonroe, NC 28211

PROPERTY TYPE: Investment Property

TAX PARCEL #: 09261006

GROSS LEASABLE AREA: 14,723 SF

COUNTY; Union

ACREAGE: 3.14 acres

ZONING: General Business (GB)

YEAR BUILT: 2008

FRONTAGE;: 294 ft

LEASE TYPE: N,N,N

NOI: $230,662.00

Management Fee of 4% and 10% vacancy factor included in NOI

TENANTS: 6 Tenant building

OFFERING PRICE: $3,181,500.00 (7.25% cap)

PRICE PER SF: $216 sf (Below replacement cost)

CONFIDENTIALITY

AGREEMENT:

Please sign attached agreement to receive a copy of the rent roll

ROOSEVELT CENTER

ROOSEVELT CENTER | 14,723 SF | MONROE, NC

ROOSEVELT CENTER

Roosevelt Center



LOCATION MAPS

Location Maps



AERIAL MAP

Aerial Map



SITE PLAN

Site Plan


INVESTMENT OVERVIEW ROOSEVELT CENTER

Price $3,181,500Price per SF $216.09CAP Rate 7.3%Cash-on-Cash Return (yr 1) 7.25 %Total Return (yr 1) $230,662Debt Coverage Ratio -

OPERATING DATA ROOSEVELT CENTER

Gross Scheduled Income $313,437Other Income -Total Scheduled Income $313,437Vacancy Cost $0Gross Income $313,437Operating Expenses $82,775Net Operating Income $230,662Pre-Tax Cash Flow $230,662

FINANCING DATA ROOSEVELT CENTER

Down Payment $0Loan Amount -Debt Service -Debt Service Monthly -Principal Reduction (yr 1) -


FINANCIAL SUMMARY

Financial Summary

INCOME SUMMARY ROOSEVELT CENTER PER UNIT

Base Rent Income $230,791 $38,465.17Carolina Cooperative FCU TICAM ($7.02 sf) $14,040 $2,340.00Adam & Eve TICAM ($4.32 sf) $17,280 $2,880.00Takara Sushi TICAM ($5.93 sf) $26,760 $4,460.00Healthnutz TICAM ($5.94 sf) $0 $0.00GP Mobile TICAM ($6.19 sf) $9,600 $1,600.00Little Caesars TICAM ($6.04 sf) $7,560 $1,260.00Property Management Recovery $7,406 $1,234.33

GROSS INCOME $313,437 $52,239.50

EXPENSE SUMMARY ROOSEVELT CENTER PER UNIT

Property management $12,500 $2,083.33Property Taxes $28,178 $4,696.33Property Insurance $2,612 $435.33CAM (Provided by Primax Operating budget) $36,777 $6,129.50Legal fees $500 $83.33Stabilized building maintenance and repairs ($.15 sf) $2,208 $368.00

GROSS EXPENSES $82,775 $13,795.83

NET OPERATING INCOME $230,662 $38,443.67



INCOME & EXPENSES

Income & Expenses

Demographic and Income Comparison Profile2115 W Roosevelt Blvd, Monroe, North Carolina, 28110 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 35.00575

Longitude: -80.558151 mile 3 miles 5 miles

Census 2010 SummaryPopulation 3,298 26,983 45,768Households 1,153 9,192 15,781Families 786 6,503 11,504Average Household Size 2.84 2.92 2.88Owner Occupied Housing Units 458 5,169 10,217Renter Occupied Housing Units 695 4,023 5,564Median Age 28.8 32.8 33.6

2017 SummaryPopulation 3,508 28,516 49,073Households 1,234 9,700 16,861Families 820 6,719 12,087Average Household Size 2.83 2.92 2.89Owner Occupied Housing Units 429 4,993 10,193Renter Occupied Housing Units 805 4,707 6,667Median Age 29.4 33.3 34.3Median Household Income $34,680 $43,078 $49,955Average Household Income $43,082 $56,190 $62,112

2022 SummaryPopulation 3,746 30,371 52,849Households 1,316 10,334 18,142Families 866 7,091 12,913Average Household Size 2.83 2.92 2.89Owner Occupied Housing Units 448 5,276 10,918Renter Occupied Housing Units 868 5,058 7,224Median Age 29.4 33.3 33.9Median Household Income $34,921 $46,527 $53,760Average Household Income $47,149 $63,810 $70,734

Trends: 2017-2022 Annual RatePopulation 1.32% 1.27% 1.49%Households 1.30% 1.27% 1.48%Families 1.10% 1.08% 1.33%Owner Households 0.87% 1.11% 1.38%Median Household Income 0.14% 1.55% 1.48%

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

June 11, 2018

©2018 Esri Page 1 of 7



2017 Households by Income Number Percent Number Percent Number Percent<$15,000 272 22.0% 1,368 14.1% 1,843 10.9%$15,000 - $24,999 184 14.9% 1,320 13.6% 1,911 11.3%$25,000 - $34,999 165 13.4% 1,180 12.2% 1,949 11.6%$35,000 - $49,999 210 17.0% 1,583 16.3% 2,733 16.2%$50,000 - $74,999 223 18.1% 1,841 19.0% 3,450 20.5%$75,000 - $99,999 92 7.5% 1,148 11.8% 2,358 14.0%$100,000 - $149,999 81 6.6% 870 9.0% 1,782 10.6%$150,000 - $199,999 5 0.4% 274 2.8% 568 3.4%$200,000+ 2 0.2% 116 1.2% 266 1.6%

Median Household Income $34,680 $43,078 $49,955Average Household Income $43,082 $56,190 $62,112Per Capita Income $14,312 $19,456 $21,519

2022 Households by Income Number Percent Number Percent Number Percent<$15,000 301 22.9% 1,466 14.2% 1,979 10.9%$15,000 - $24,999 191 14.5% 1,333 12.9% 1,936 10.7%$25,000 - $34,999 167 12.7% 1,134 11.0% 1,876 10.3%$35,000 - $49,999 205 15.6% 1,507 14.6% 2,600 14.3%$50,000 - $74,999 216 16.4% 1,736 16.8% 3,240 17.9%$75,000 - $99,999 122 9.3% 1,479 14.3% 3,002 16.5%$100,000 - $149,999 106 8.1% 1,141 11.0% 2,353 13.0%$150,000 - $199,999 6 0.5% 373 3.6% 781 4.3%$200,000+ 2 0.2% 166 1.6% 374 2.1%

Median Household Income $34,921 $46,527 $53,760Average Household Income $47,149 $63,810 $70,734Per Capita Income $15,612 $22,068 $24,439

Data Note: Income is expressed in current dollars.


June 11, 2018




2010 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 353 10.7% 2,450 9.1% 3,935 8.6%Age 5 - 9 319 9.7% 2,267 8.4% 3,894 8.5%Age 10 - 14 231 7.0% 2,000 7.4% 3,497 7.6%Age 15 - 19 210 6.4% 1,822 6.8% 3,115 6.8%Age 20 - 24 289 8.8% 1,869 6.9% 2,841 6.2%Age 25 - 34 614 18.6% 4,004 14.8% 6,585 14.4%Age 35 - 44 430 13.0% 3,890 14.4% 6,851 15.0%Age 45 - 54 344 10.4% 3,294 12.2% 5,686 12.4%Age 55 - 64 228 6.9% 2,466 9.1% 4,350 9.5%Age 65 - 74 146 4.4% 1,673 6.2% 2,882 6.3%Age 75 - 84 96 2.9% 900 3.3% 1,513 3.3%Age 85+ 39 1.2% 347 1.3% 618 1.4%

2017 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 348 9.9% 2,400 8.4% 3,934 8.0%Age 5 - 9 317 9.0% 2,307 8.1% 3,843 7.8%Age 10 - 14 269 7.7% 2,072 7.3% 3,660 7.5%Age 15 - 19 231 6.6% 1,901 6.7% 3,271 6.7%Age 20 - 24 289 8.2% 1,990 7.0% 3,228 6.6%Age 25 - 34 655 18.7% 4,285 15.0% 7,082 14.4%Age 35 - 44 459 13.1% 3,756 13.2% 6,620 13.5%Age 45 - 54 350 10.0% 3,496 12.3% 6,287 12.8%Age 55 - 64 270 7.7% 2,806 9.8% 4,964 10.1%Age 65 - 74 187 5.3% 2,091 7.3% 3,711 7.6%Age 75 - 84 91 2.6% 1,024 3.6% 1,771 3.6%Age 85+ 40 1.1% 389 1.4% 702 1.4%

2022 Population by Age Number Percent Number Percent Number PercentAge 0 - 4 375 10.0% 2,548 8.4% 4,233 8.0%Age 5 - 9 340 9.1% 2,453 8.1% 4,152 7.9%Age 10 - 14 288 7.7% 2,307 7.6% 4,021 7.6%Age 15 - 19 257 6.9% 2,072 6.8% 3,614 6.8%Age 20 - 24 304 8.1% 1,974 6.5% 3,231 6.1%Age 25 - 34 685 18.3% 4,640 15.3% 8,058 15.2%Age 35 - 44 505 13.5% 3,932 12.9% 7,009 13.3%Age 45 - 54 366 9.8% 3,530 11.6% 6,274 11.9%Age 55 - 64 284 7.6% 3,012 9.9% 5,344 10.1%Age 65 - 74 201 5.4% 2,247 7.4% 4,024 7.6%Age 75 - 84 106 2.8% 1,265 4.2% 2,183 4.1%Age 85+ 38 1.0% 390 1.3% 705 1.3%


June 11, 2018




2010 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 1,568 47.5% 14,394 53.3% 27,832 60.8%Black Alone 764 23.2% 6,580 24.4% 9,418 20.6%American Indian Alone 28 0.8% 182 0.7% 249 0.5%Asian Alone 49 1.5% 245 0.9% 429 0.9%Pacific Islander Alone 1 0.0% 8 0.0% 14 0.0%Some Other Race Alone 800 24.2% 4,945 18.3% 6,708 14.7%Two or More Races 89 2.7% 628 2.3% 1,117 2.4%Hispanic Origin (Any Race) 1,233 37.4% 7,719 28.6% 10,994 24.0%

2017 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 1,535 43.7% 14,347 50.3% 28,410 57.9%Black Alone 801 22.8% 6,901 24.2% 10,114 20.6%American Indian Alone 33 0.9% 213 0.7% 284 0.6%Asian Alone 78 2.2% 405 1.4% 729 1.5%Pacific Islander Alone 1 0.0% 9 0.0% 17 0.0%Some Other Race Alone 958 27.3% 5,903 20.7% 8,143 16.6%Two or More Races 103 2.9% 739 2.6% 1,375 2.8%Hispanic Origin (Any Race) 1,436 40.9% 8,976 31.5% 13,046 26.6%

2022 Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 1,555 41.5% 14,689 48.4% 29,582 56.0%Black Alone 857 22.9% 7,387 24.3% 11,027 20.9%American Indian Alone 38 1.0% 241 0.8% 321 0.6%Asian Alone 92 2.5% 496 1.6% 913 1.7%Pacific Islander Alone 1 0.0% 11 0.0% 22 0.0%Some Other Race Alone 1,089 29.1% 6,702 22.1% 9,362 17.7%Two or More Races 115 3.1% 846 2.8% 1,622 3.1%Hispanic Origin (Any Race) 1,633 43.6% 10,211 33.6% 15,089 28.6%


June 11, 2018



Longitude: -80.55815

1 mile

AreaStateUSA

Trends 2017-2022Trends 2017-2022

Ann

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ate

(in

perc

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1.8

1.6

1.4

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0Population Households Families Owner HHs Median HH Income

20172022

Population by AgePopulation by Age

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00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2017 Household Income 2017 Household Income

< $15K22.0%

$15K - $24K14.9%

$25K - $34K13.4%

$35K - $49K17.0%

$50K - $74K18.1%

$75K - $99K7.5%

$100K - $149K6.6%

$150K - $199K0.4%$200K+

0.2%

2017 Population by Race2017 Population by Race

Perc

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40

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0White Black Am.Ind. Asian Pacific Other Two+ Hisp


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3 miles

AreaStateUSA

Trends 2017-2022Trends 2017-2022

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1.8

1.6

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20172022


Perc

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14

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00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


< $15K14.1%

$15K - $24K13.6%$25K - $34K

12.2%

$35K - $49K16.3%

$50K - $74K19.0% $75K - $99K

11.8%

$100K - $149K9.0%

$150K - $199K2.8%

$200K+1.2%


Perc

ent

50

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White Black Am.Ind. Asian Pacific Other Two+ Hisp


June 11, 2018




5 miles

AreaStateUSA

Trends 2017-2022Trends 2017-2022

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1.8

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1.4

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Perc

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14

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8

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00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


< $15K10.9%

$15K - $24K11.3%

$25K - $34K11.6%

$35K - $49K16.2%

$50K - $74K20.5%

$75K - $99K14.0%

$100K - $149K10.6%

$150K - $199K3.4%

$200K+1.6%


Perc

ent

55

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0White Black Am.Ind. Asian Pacific Other Two+ Hisp


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CONFIDENTIALITY AGREEMENT

THIS AGREEMENT is made as of ___ day of ________________, 2018 and shall remain in full force and effect for a period of one year from this date. If Accepting Party executes this Agreement, then SVN Percival Partners, LLC shall deliver to _____________________________________ ____ (“Accepting Party”) certain information received from ___Highlander Airport Parking, Inc._____ (“Owner”)], concerning the Property and/or its operations and financial/physical condition, which information is confidential and/or proprietary in nature (collectively, “Evaluation Material”) in connection with a proposed sale of the Owner’s real property (“Property”) located at 2515 W. Roosevelt Blvd. Monroe, NC 28211, known as Roosevelt Center (the “Proposed Transaction”). By entering into this Confidentiality Agreement (“Agreement”) and accepting the Evaluation Material, and in consideration of its being given access to same, Accepting Party agrees as follows: 1. Except for the sole purpose of Accepting Party’s evaluation of the Proposed Transaction by

Accepting Party, Accepting Party shall not use, duplicate or disclose any of the Evaluation Material. The use or transmission of Evaluation Material for any other purpose including, without limitation, for the purpose of contacting the Owner’s current tenants or mortgagees (if any), is hereby strictly prohibited.

2. Accepting Party is strictly prohibited from divulging any confidential information or releasing

any Evaluation Material without the prior written consent of the Owner. However, Accepting Party may deliver Evaluation Material to persons or entities who, because of their involvement with, or interest in, the Proposed Transaction, need to know such information for the purpose of giving advice to Accepting Party with respect to, or consummating, the Proposed Transaction (all of whom are collectively referred to as “Related Parties”).

3. Accepting Party shall not divulge any such confidential information or release such Evaluation

Material to a Related Party, except: (i) after such person has been identified in writing; (ii) after Owner has approved in writing the furnishing of such Evaluation Material to such person; and (iii) after such person has entered into, and delivered to Owner, a Confidentiality Agreement which contains provisions substantially the same as the provisions of this Agreement. The term “person” as used throughout this Agreement shall be construed broadly to include, without limitation, any corporation, company, partnership, business entity, or individual.

4. Accepting Party shall keep all Evaluation Material strictly confidential. Accepting Party shall

inform all Related Parties of the confidential nature of such information and shall cause such Related Parties to keep all such information in the strictest confidence and to use such information only in connection with the Proposed Transaction and in accordance with the terms of this Agreement.

5. If Accepting Party or a Related Party does not enter into the Proposed Transaction, and/or at

any time the Owner or SVN Percival Partners so requests, the Accepting Party shall promptly

2

surrender or destroy all Evaluation Material furnished to it, whether furnished before or after the date of this Agreement, including all copies thereof in Accepting Party’s possession or control. Thereafter, Accepting Party shall not retain any copies, summaries, or other compilations of the Evaluation Material, and shall destroy all documents, analyses, memoranda, notes, or other writings and electronic media prepared by or on behalf of Accepting Party and based in whole or in part upon any Evaluation Material.

6. Accepting Party shall not: (i) disclose the fact that discussions or negotiations are taking place

concerning the Proposed Transaction, or any of the terms thereof; or (ii) conduct any discussions or negotiations, or make any inquiries, concerning the proposed Transaction with any person or entity other than Owner and SVN Percival Partners, LLC, except as may be permitted by the preceding paragraphs or as may be required by law.

7. Accepting Party acknowledges and agrees that SVN Percival Partners makes no representations

or warranties as to the accuracy or completeness of the Evaluation Material or that actual results will conform to any projections; SVN Percival Partners expressly disclaims any and all liability for representations or warranties, express or implied, contained in the Evaluation Material, or in any other written or oral communication transmitted or made available to Accepting Party by or through SVN Percival Partners.

8. This Agreement shall be governed by and construed in accordance with the laws of Nouth

Carolina. 11. The parties hereto agree that Owner is the intended beneficiary of this Agreement with full

standing to enforce its provisions and to maintain any legal action necessary for same. Owner is under no legal obligation of any kind whatsoever with respect to the Proposed Sale by virtue of this Agreement, except for the matters specifically agreed to herein.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first entered above. SVN Percival Partners, LLC

BY: Thomas A. Auer TITLE: Advisor Date: ________________ ACCEPTING PARTY: ________________________________ BY: ________________________________ COMPANY: ________________________________ ADDRESS: ________________________________

________________________________

________________________________

PHONE NO: ________________________________ EMAIL ADDRESS: ________________________________


ADVISOR BIO

Advisor Bio


Thomas AuerAdvisorSVN | Percival Partners

Professional RoleThomas has been active in the commercial real estate brokerage and development business for over 15 yearsand is knowledgeable in various aspects of real estate, to include land, adaptive reuse, retail sale/acquisitions,Landlord representation, Tenant representation and retail development. Some of his current/prior clientsinclude national retailers such as RadioShack, Hwy 55 Burgers Shakes and Fries, Starbuck’s, Tire Kingdom/NTB.

Career HighlightsPrior to joining SVN Percival Partners, Thomas was a development manager for Pavilion Development thatoversaw the expansion of NTB Tire and Battery stores in Fort Worth and Dallas, Texas as well as theSoutheast. He is also a preferred developer for RadioShack Corporation and completed several projects during2012 and 2013 in the Southeast. Thomas is also handling the leasing of a retail portfolio for private investorshere in the Southeast. In addition, he has been a multi-million dollar producer multiple years and completedover $50,000,000 in development projects.Phone: 704.632.1019

Email: [email protected]

Memberships & Affiliations

Charlotte Region Commercial Board of RealtorsNorth Carolina Realtors Association

Licensed real estate broker in North and SouthCarolina

NC #155972

Fax: 704.333.8633

Cell: 704.231.2762

Address: 4600 Park Rd.Suite 370Charlotte, NC 28209


All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

DISCLAIMER

The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used forany other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of theSVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving thesematerials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, andthere can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations orwarranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made availableto the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed anddelivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any oftheir officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochureare advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochureor making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable toOwner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to releasethe Owner and the SVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaserproceeds at its own risk.

for sale investment property - loopnet...14,723 sf multi-tenant retail investment property recent...

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