for sale | office 3325 triana blvd....3325 triana blvd. | 17,418 sf | huntsville, al table of...
TRANSCRIPT
Associate [email protected] #000100450
Desiree Palmer
Senior [email protected]
Andrew Agee
PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS
Near 10% cap rate with 2nd Floor Rented (Currently Unoccupied)
PERFECT FOR OWNER OCCUPANT (Co-Tenant Pays Mortgage)
Located within 2 miles of Redstone Arsenal
Located in a HUBZone
Current tenants have new 5 year leases
PRESENTED BPRESENTED BYY::
FOR SALE | OFFICE
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.
3325 TRIANA BLVD.3325 Triana Boulevard | Huntsville, AL 35805
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
TABLE OF CONTENTS
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.
1. PROPERTY INFORMATION 3
2. LOCATION INFORMATION 6
3. FINANCIAL ANALYSIS 9
4. DEMOGRAPHICS 12
5. ADDITIONAL INFORMATION 14
3325 Triana Boulevard | Huntsville, AL 35805
3325 TRIANA BLVD.FOR SALE | OFFICE
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.
1 PROPERTY INFORMATION
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. 4
PROPERPROPERTTY OY OVERVERVIEWVIEW
Move in ready office space located in a high tech corridor near Redstone Arsenal in Huntsville, Alabama.In the vacant, upstairs space, there are a total of 30 private offices, a large furnished conference room,multiple break areas, a lab space, and 50+ parking spaces. The space can be split if needed, even intoindividual offices or into sections for qualified tenants. There is a reception area in the space andwindows in most offices. The property is located in the positively trending Southwest HuntsvilleSubmarket, where there is currently underway or just completed over $100 million in private and publicinvestment.
The tenant downstairs, Alpha Beta Technologies, just signed a new 5-year lease at $6,950/month, and iscommitted to staying in the space indefinitely. Alpha Beta Technologies, established in January 1994, isa Service Disabled Veteran Owned company (SDVO) operating out of Huntsville, Alabama.Alpha BetaTechnologies provides comprehensive electronics design, development, and manufacturing capabilitiesto its customers in a broad variety of technical areas, both commercial and military.
An Owner Occupant can purchase the property, occupy the move in ready upstairs space, and keepAlpha Beta to pay 60% of the mortgage.
PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS
• Located within 2 miles of Redstone Arsenal
• HUBZone
• Located within 4 miles of Cummings Research Park
• Area known to foster top tech companies in high tech Huntsville, Alabama
• Current Tenant is Alpha Beta Technologies
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 1 | PROPERTY INFORMATION
Executive Summary
PROPERPROPERTTY SUMMARY SUMMARYY
SALE PRICE: $1,650,000
CAP RATE: 9.15% (With 2nd Floor Occupied)
NOI: $164,782
LOT SIZE: 1.25 Acres
BUILDING SIZE: 17,418 SF
BUILDING CLASS: B
YEAR BUILT: 1989
ZONING: C1
MARKET: Huntsville Metro
SUB MARKET: SW Huntsville
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 1 | PROPERTY INFORMATION
Property Overview
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. 5
Construction
Year Built: 1989Construction Type: Brick Exterior, Glass, FrameNumber of Stories: 2Average Floor Size: 8709
Foundation: Reinforced Concrete SlabParking Surface: AsphaltNumber of Units: 2
Roof: Pitched roof with tar and gravel shingles
Physical Description
Property Name: Alpha Beta BuildingType of Ownership: Fee Simple
Property Type: OfficeAPN: 1701113000016000
Lot Size: 1.25 ACRentable SF: 17,418
Building Class: BZoning: C1
Parking Spaces: AmpleBuilding Frontage: 240 ft.
Cross Streets: Ivy Avenue , Drake Avenue, Bob WallaceAvenue
Other
Walls: Smooth SheetrockCeilings: Drop ceiling throughout, vaulted in entrance
Floor Coverings: Carpet, TileRestrooms: Ample
3325 Triana Boulevard | Huntsville, AL 35805
3325 TRIANA BLVD.FOR SALE | OFFICE
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 LOCATION INFORMATION
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. 7
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 2 | LOCATION INFORMATION
Location Maps
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 2 | LOCATION INFORMATION
Aerial Map
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. 8
3325 Triana Boulevard | Huntsville, AL 35805
3325 TRIANA BLVD.FOR SALE | OFFICE
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.
3 FINANCIAL ANALYSIS
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 3 | FINANCIAL ANALYSIS
Financial Summary
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. 10
INVESINVESTMENT OTMENT OVERVERVIEWVIEW With 2nd Floor Occupied
Price $1,650,000Price per SF $94.73CAP Rate 10.0%Cash-on-Cash Return (yr 1) 20.21 %Total Return (yr 1) $109,509Debt Coverage Ratio 1.68
OPERAOPERATING DTING DAATTAA With 2nd Floor Occupied
Gross Scheduled Income $188,616Other Income $0Total Scheduled Income $188,616Vacancy Cost $0Gross Income $188,616Operating Expenses $23,834Net Operating Income $164,782Pre-Tax Cash Flow $66,695
FINANCING DFINANCING DAATTAA With 2nd Floor Occupied
Down Payment $330,000Loan Amount $1,320,000Debt Service $98,087Debt Service Monthly $8,173Principal Reduction (yr 1) $42,814
INCINCOME SUMMAROME SUMMARYY PRO FPRO FORMAORMA PER UNITPER UNIT
First Floor Rent $83,016 $41,508.00Owner Occupant/Tenant $105,600 $52,800.00Owner Occupant - -
GROSS INCOME $188,616 $94,308.00
EXPENSE SUMMAREXPENSE SUMMARYY PRO FPRO FORMAORMA PER UNITPER UNIT
Taxes $12,438 $6,219.00Insurance $3,396 $1,698.00Repair and Maintenance $8,000 $4,000.00
GROSS EXPENSES $23,834 $11,917.00
NET OPERATING INCOME $164,782 $82,391.00
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. 11
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 3 | FINANCIAL ANALYSIS
Income & Expenses
3325 Triana Boulevard | Huntsville, AL 35805
3325 TRIANA BLVD.FOR SALE | OFFICE
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.
4 DEMOGRAPHICS
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 4 | DEMOGRAPHICS
Demographics Map
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. 13
* Demographic data derived from 2010 US Census
1 M1 Mileile 3 M3 Milesiles 5 M5 Milesiles
Total Population 10,162 54,889 110,991
Population Density 3,235 1,941 1,413
Median Age 31.6 34.0 36.7
Median Age (Male) 32.1 32.4 34.9
Median Age (Female) 31.0 34.3 37.7
Total Households 4,275 23,137 47,349
# of Persons Per HH 2.4 2.4 2.3
Average HH Income $32,212 $46,611 $56,949
Average House Value $93,192 $207,319 $225,258
3325 Triana Boulevard | Huntsville, AL 35805
3325 TRIANA BLVD.FOR SALE | OFFICE
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.
5 ADDITIONAL INFORMATION
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. 15
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 5 | ADDITIONAL INFORMATION
Additional Photos
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
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.
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 5 | ADDITIONAL INFORMATION
Advisor Bio & Contact 1
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. 17
Andrew AgeeSenior AdvisorSVN | AVAT Realty, LLC
Andy has successfully brokered real estate investments for owner-users and investors involving propertiesvalued at over $200 MM. His specialty is the buying and selling of multifamily assets in the Southeastern U.S.He and his highly skilled team has completed transactions across four states, ranging from 8 units and$250,000, to portfolio transactions in excess of $20 million. We are extremely customer centric, and wesubscribe wholeheartedly to the SVN model of Win/Win relationships.
Member of:
Andy is also a member of the National Apartment Association, CCIM, Committee of 100 in Huntsville, isinvolved as a board member of a large local political committee in North Alabama, and serves on the board ofthe Margarita Society, a non profit organization that collects thousands of toys for various charitableorganizations at Christmas. He is also involved with the Development Council of the Huntsville HospitalFoundation.
Phone: 256.653.0065
Email: [email protected]
Fax: 866.358.4422
Cell: 256.653.0065
Address: 2225 Drake Avenue, Suite 2Huntsville, AL 35805
3325 TRIANA BLVD. | 17,418 SF | HUNTSVILLE, AL
SECTION 5 | ADDITIONAL INFORMATION
Advisor Bio & Contact 2
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. 18
Desiree PalmerAssociate AdvisorSVN | AVAT Realty, LLC
Desiree is an advisor with Sperry Van Ness/AVAT Realty specializing in self-storage, multi-family and medicaloffice buildings.
Desiree holds an LL.M (Master of Laws) in Finance from the Institute for Law and Finance in Frankfurt,Germany and a J.D. from the University of Arizona's James E. Rogers College of Law. Desiree has been licensedto practice law in New York State since 2008.
Desiree previously worked in Moscow, Russia as a legal associate in the area of banking and finance, includingreal estate finance. For the past several years Desiree has been advising in the area of distressed propertysales.
Phone: 773.886.6010
Email: [email protected]
Fax: 866.358.4422
Cell: 773.886.6010
Address: 2225 Drake Avenue, Suite 2Huntsville, AL 35805
All SVN Offices Independently Owned & Operated | 2014 All Right Reserved | www.svn.com
PRESENTED BPRESENTED BYY::
Associate [email protected] #000100450
DESIREE PALMER
Senior [email protected]
ANDREW AGEE