AUSTIN SOUTH LAMAR APARTMENTS 328 UNIT …...AUSTIN SOUTH LAMAR APARTMENTS 328 UNIT DEVELOPMENT. 10...
Transcript of AUSTIN SOUTH LAMAR APARTMENTS 328 UNIT …...AUSTIN SOUTH LAMAR APARTMENTS 328 UNIT DEVELOPMENT. 10...
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
Neighborhood Retail Center | 1607 S Lamar | Austin, TX, 78704FOR SALE
Robby Eaves, [email protected]
Nick Nelson, [email protected]
S Lamar Blvd
S Lamar Blvd
Evergreen Ave
Evergreen Ave
43,000 VPD (2019)
AUSTIN SOUTH LAMAR AUSTIN SOUTH LAMAR APARTMENTSAPARTMENTS
328 UNIT DEVELOPMENT328 UNIT DEVELOPMENT
1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
ADDRESS: 1607 South Lamar, Austin, TX 78704
PRICE: $5,500,000
NET OPERATING INCOME: $311,075
BUILDING SIZE: 8,368 SF
LAND SIZE: .36 Acres
ZONING: CS-V
YEAR BUILT: 1946/2016
TRAFFIC COUNT: 43,000 VPD South Lamar (2019)
main 512 682 1000 | fax 512 682 1031 | cipaustin.com
For More Information Contact:
Robby Eaves, CCIMPrincipal
[email protected] | 512 682 1003
Nick Nelson, CCIMSenior Vice President
[email protected] | 512 682 1006
SUMMARY
TENANT PROFILES:
Lydian Dental works to restore healthy smiles locally and around the globe through their services and educational programs.
Lavish Nail & Spa provides clients with manicures, pedicures, and waxing from highly trained professionals in a relaxing environment.
Wheelhouse Salon has a team of highly-trained stylists made up of a diverse mix of expertise and experience.
TENANT RENT ROLL RATE/SFTENANT RENT ROLL RATE/SFRate Per Square Feet
Tenant Rent RollTenant Rent Roll 1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected] © Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
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1603
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Annualized Rate
$35.00
$37.82
$36.00
$30.00 $40.00$20.00$10.00$0.00
Suite
/Uni
tSu
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Annualized RateAnnualized Rate
All information (Information) provided or depicted on this map and or aerial photograph has been obtained from third party sources deemed reliable. However, neither CIP Austin nor any of its brokers, agents, employees, officers, directors or affiliated companies (collectively, CIP Austin and Related Parties) have made an independent investigation of the Information or the Information sources, and no warranty or representation is made by CIP Austin and Related Parties as to the accuracy of such Information. The Information is submitted subject to the possible errors or omissions, and no person or organization should rely on the Information, unless such person or organization has conducted an independent investigation to confirm the accuracy thereof.
1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
AREA MAP
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Gus Fruth Park
Butler Metro Park
Town Lake-Lamar Beach
Zilker Metropolitan Park
Barton Creek Square Mall
AUSTIN
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1 Bridges on the Park 14 Office/Retail Development 27 Maria’s Taco Xpress2 Cole Apartments 15 Post South Lamar 28 Matt’s El Rancho3 Barton Springs Saloon 16 Chi’Lantro, Starbucks 29 Barton’s Mill Apartments4 Talisman Condos 17 Snooze, Picnik 30 Bell South Lamar Apartments5 Uchi 18 Austin South Lamar Apartments 31 Kerbey Lane, Half Price Books6 Austin Heights Condominiums 19 Corner Bar, Austin’s Pizza 32 Broken Spoke7 Windsor South Lamar 20 New 74K Mixed Use Development 33 704 Apartments8 Townhollow Apartments 21 Bouldin Creek Development 34 Groves South Lamar9 Odd Duck 22 Black Sheep Lodge 35 Greenview Apartments
10 Lamar Union Apartments 23 Loro 36 Lakehills Plaza Shopping Center11 Alamo Drafthouse 24 East Side King 37 Brodie Oaks Shopping Center12 Gibson Flats Apartments 25 Bluebonnet at Zilker Condos13 Saxon Pub, Ramen Tatsuya 26 Bluebonnet Studios
SUBJECT19
36
37
1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
RENT ROLL/LEASE
EXPIRATIONS
Lease Sq. Ft. Expiring
For the Year Ending
Year 1
May-2021
Year 2
May-2022
Year 3
May-2023
Year 4
May-2024
Year 5
May-2025
Year 6
May-2026
Year 7
May-2027
Year 8
May-2028
Year 9
May-2029
Year 10
May-2030
1603 Lavish Nails 2,060
A Lydian Dental 4,135
1605 Grimes Wheelhouse 2,173
Total Square Feet Expiring 0 0 0 2,173 0 0 2,060 4,135 0 0
Percent of Building Total 0% 0% 0% 26% 0% 0% 25% 49% 0% 0%
Lease Expiration Rollover Analysis
0
910
1,820
2,730
3,640
4,550
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
0 0 0
2,173
0 0
2,060
4,135
0 0
Lease Expiration Rollover AnalysisLease Expiration Rollover Analysis 1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected]
© Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
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Suite/Unit TenantRentable
Area(Sq. Ft.)
Lease
Start Date
Lease
End Date
Initial Lease
Term (Months)
Current Monthly
Rate Per Sq. Ft.
Current Annual
Rate Per Sq. Ft.
Current Year
Annual
Base Rent
1603 Lavish Nails 2,060 Mar-20 May-27 87 $2.92 $35.00 $72,100
A Lydian Dental 4,135 Aug-17 Jul-27 120 $3.15 $37.82 $159,659
1605 Grimes Wheelhouse 2,173 Oct-18 Nov-23 62 $3.00 $36.00 $79,314
Total Amount 8,368 $311,074
Tenant Rent RollTenant Rent Roll 1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected]
© Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
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TENANT RENT ROLL
Lease Sq. Ft. Expiring
For the Year Ending
Year 1
May-2021
Year 2
May-2022
Year 3
May-2023
Year 4
May-2024
Year 5
May-2025
Year 6
May-2026
Year 7
May-2027
Year 8
May-2028
Year 9
May-2029
Year 10
May-2030
1603 Lavish Nails 2,060
A Lydian Dental 4,135
1605 Grimes Wheelhouse 2,173
Total Square Feet Expiring 0 0 0 2,173 0 0 2,060 4,135 0 0
Percent of Building Total 0% 0% 0% 26% 0% 0% 25% 49% 0% 0%
Lease Expiration Rollover Analysis
0
910
1,820
2,730
3,640
4,550
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
0 0 0
2,173
0 0
2,060
4,135
0 0
Lease Expiration Rollover AnalysisLease Expiration Rollover Analysis 1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected]
© Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
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1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
10 YR AFTER TAXCASH FLOW
ANALYSISINITIAL INVESTMENT
Purchase Price
+ Acquisition Costs
- 1st Mortgage
+ Total Loan Fees and Points
Initial Investment
MORTGAGE DATA 1ST LIEN
Loan Amount
Interest Rate
Amortization Period
Loan Term
Loan Fees Points
Periodic Payment
Annual Debt Service
10-YEAR CASH FLOW SUMMARY
For the Year EndingYear 1
May-2021
Year 2
May-2022
Year 3
May-2023
Year 4
May-2024
Year 5
May-2025
Year 6
May-2026
Year 7
May-2027
Year 8
May-2028
Year 9
May-2029
Year 10
May-2030
POTENTIAL RENTAL INCOME (PRI)
Base Rental Income
-Turnover Vacancy
- Rent Concessions
Total Base Rental Income
- General Vacancy / Credit Loss
EFFECTIVE RENTAL INCOME
+ Tenant Expense Reimbursements
+ Other Income
GROSS OPERATING INCOME (GOI)
- Operating Expenses
NET OPERATING INCOME (NOI)
- Depreciation
- 1st Lien Interest Deduction
- Amortized Loan Costs
TAXABLE INCOME
x Federal Marginal Tax Rate (39.6%)
x Local Marginal Tax Rate (0%)
x Medicare Surtax (3.8%)
TAX LIABILITY (Savings)
NET OPERATING INCOME (NOI)
- Capital Expenses / Replacement Reserves
- Annual Debt Service 1st Lien
- Tenant Improvements (TI)
- Leasing Commissions (LC)
CASH FLOW BEFORE TAXES
- Tax Liability (Savings)
CASH FLOW AFTER TAXES
$5,500,000
$0
$3,850,000
$38,500
$1,688,500
$3,850,000
5.000%
25 Years
25 Years
1.00%
$22,507
$270,081
$311,074 $319,407 $327,885 $336,562 $344,283 $351,118 $358,159 $373,907 $373,935 $373,935
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$311,074 $319,407 $327,885 $336,562 $344,283 $351,118 $358,159 $373,907 $373,935 $373,935
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$311,074 $319,407 $327,885 $336,562 $344,283 $351,118 $358,159 $373,907 $373,935 $373,935
$73,968 $73,968 $73,968 $73,968 $73,968 $69,166 $73,968 $69,416 $73,968 $73,968
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$385,043 $393,376 $401,854 $410,531 $418,252 $420,284 $432,128 $443,323 $447,904 $447,904
$73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968
$311,075 $319,408 $327,886 $336,563 $344,284 $346,316 $358,160 $369,355 $373,936 $373,936
$94,605 $98,718 $98,718 $98,718 $98,718 $98,718 $98,718 $98,718 $98,718 $94,605
$190,697 $186,636 $182,367 $177,879 $173,162 $168,203 $162,991 $157,512 $151,753 $145,699
$1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540 $1,540
$24,233 $32,514 $45,261 $58,426 $70,864 $77,855 $94,911 $111,585 $121,925 $132,092
$9,596 $12,876 $17,923 $23,137 $28,062 $30,831 $37,585 $44,188 $48,282 $52,308
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$921 $1,236 $1,720 $2,220 $2,693 $2,958 $3,607 $4,240 $4,633 $5,019
$10,517 $14,112 $19,643 $25,357 $30,755 $33,789 $41,192 $48,428 $52,915 $57,327
$311,075 $319,408 $327,886 $336,563 $344,284 $346,316 $358,160 $369,355 $373,936 $373,936
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$270,081 $270,081 $270,081 $270,081 $270,081 $270,081 $270,081 $270,081 $270,081 $270,081
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$40,994 $49,327 $57,805 $66,482 $74,203 $76,235 $88,079 $99,274 $103,855 $103,855
$10,517 $14,112 $19,643 $25,357 $30,755 $33,789 $41,192 $48,428 $52,915 $57,327
$30,477 $35,215 $38,162 $41,125 $43,448 $42,446 $46,887 $50,846 $50,940 $46,528
10-Year After Tax Cash Flow Analysis10-Year After Tax Cash Flow Analysis 1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected]
© Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
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1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
EXPENSE DETAILANALYSIS
EXPENSE DETAIL
Real Estate Taxes
Utilities
Insurance
Management
Landscape Maintenance
TOTAL OPERATING EXPENSES
NET OPERATING INCOME (NOI)
INCOME
For the Year EndingYear 1
May-2021
Year 2
May-2022
Year 3
May-2023
Year 4
May-2024
Year 5
May-2025
Year 6
May-2026
Year 7
May-2027
Year 8
May-2028
Year 9
May-2029
Year 10
May-2030
POTENTIAL RENTAL INCOME (PRI)
Base Rental Income
- Turnover Vacancy
- Rent Concessions
Total Base Rental Income
- General Vacancy / Credit Loss
EFFECTIVE RENTAL INCOME (ERI)
+ Tenant Expense Reimbursements
+ Other Income
GROSS OPERATING INCOME (GOI)
$311,074 $319,407 $327,885 $336,562 $344,283 $351,118 $358,159 $373,907 $373,935 $373,935
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$311,074 $319,407 $327,885 $336,562 $344,283 $351,118 $358,159 $373,907 $373,935 $373,935
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$311,074 $319,407 $327,885 $336,562 $344,283 $351,118 $358,159 $373,907 $373,935 $373,935
$73,968 $73,968 $73,968 $73,968 $73,968 $69,166 $73,968 $69,416 $73,968 $73,968
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$385,043 $393,376 $401,854 $410,531 $418,252 $420,284 $432,128 $443,323 $447,904 $447,904
$57,911 $57,911 $57,911 $57,911 $57,911 $57,911 $57,911 $57,911 $57,911 $57,911
$5,151 $5,151 $5,151 $5,151 $5,151 $5,151 $5,151 $5,151 $5,151 $5,151
$5,756 $5,756 $5,756 $5,756 $5,756 $5,756 $5,756 $5,756 $5,756 $5,756
$4,626 $4,626 $4,626 $4,626 $4,626 $4,626 $4,626 $4,626 $4,626 $4,626
$525 $525 $525 $525 $525 $525 $525 $525 $525 $525
$73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968 $73,968
$311,075 $319,408 $327,886 $336,563 $344,284 $346,316 $358,160 $369,355 $373,936 $373,936
Expense Detail AnalysisExpense Detail Analysis 1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected]
© Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
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1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
SALES PROCEEDS ANALYSIS
Improvement Allocation (70%)
Depreciation Life
Interest Deduction
Loan Cost Deduction
U.S. Mid-Month Convention
Sales Proceeds Before Tax
- Federal Capital Gain Tax (20%)
- Local Capital Gain Tax (0%)
- Tax on Recaptured Depreciation (25%)
- Medicare Capital Gain Tax (3.8%)
+ Loan Fees & Points Tax Savings
SALES PROCEEDS AFTER TAX
For the Year EndingYear 1
May-2021
Year 2
May-2022
Year 3
May-2023
Year 4
May-2024
Year 5
May-2025
Year 6
May-2026
Year 7
May-2027
Year 8
May-2028
Year 9
May-2029
Year 10
May-2030
CAP Rate at Sale (subsequent year NOI)
Sale Price
- Cost of Sale
- 1st Lien Balance
SALES PROCEEDS BEFORE TAX
Original Purchase & Costs (Basis)
- Depreciation Taken
Net Adjusted Basis
Sale Price
- Cost of Sale
- Original Purchase & Costs (Basis)
Capital Gain (Loss)
Loan Fees & Points Paid
- Loan Fees & Points Amortized
Loan Fees & Points Remaining
x Marginal Income Tax Rate
Loan Fees & Points Tax Savings
$3,850,000
39 Years
Yes
Yes
Yes
6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00%
$5,323,000 $5,465,000 $5,609,000 $5,738,000 $5,772,000 $5,969,000 $6,156,000 $6,232,000 $6,232,000 $6,080,000
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$3,770,617 $3,687,172 $3,599,458 $3,507,256 $3,410,337 $3,308,460 $3,201,370 $3,088,802 $2,970,474 $2,846,092
$1,552,383 $1,777,828 $2,009,542 $2,230,744 $2,361,663 $2,660,540 $2,954,630 $3,143,198 $3,261,526 $3,233,908
$5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000
$94,605 $193,323 $292,041 $390,759 $489,477 $588,195 $686,913 $785,631 $884,349 $978,954
$5,405,395 $5,306,677 $5,207,959 $5,109,241 $5,010,523 $4,911,805 $4,813,087 $4,714,369 $4,615,651 $4,521,046
$5,323,000 $5,465,000 $5,609,000 $5,738,000 $5,772,000 $5,969,000 $6,156,000 $6,232,000 $6,232,000 $6,080,000
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000 $5,500,000
($177,000) ($35,000) $109,000 $238,000 $272,000 $469,000 $656,000 $732,000 $732,000 $580,000
$38,500 $38,500 $38,500 $38,500 $38,500 $38,500 $38,500 $38,500 $38,500 $38,500
$1,540 $3,080 $4,620 $6,160 $7,700 $9,240 $10,780 $12,320 $13,860 $15,400
$36,960 $35,420 $33,880 $32,340 $30,800 $29,260 $27,720 $26,180 $24,640 $23,100
43.40% 43.40% 43.40% 43.40% 43.40% 43.40% 43.40% 43.40% 43.40% 43.40%
$16,041 $15,372 $14,704 $14,036 $13,367 $12,699 $12,030 $11,362 $10,694 $10,025
$1,552,383 $1,777,828 $2,009,542 $2,230,744 $2,361,663 $2,660,540 $2,954,630 $3,143,198 $3,261,526 $3,233,908
($35,400) ($7,000) $21,800 $47,600 $54,400 $93,800 $131,200 $146,400 $146,400 $116,000
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$23,651 $48,331 $73,010 $97,690 $122,369 $147,049 $171,728 $196,408 $221,087 $244,739
($6,726) ($1,330) $4,142 $9,044 $10,336 $17,822 $24,928 $27,816 $27,816 $22,040
$16,041 $15,372 $14,704 $14,036 $13,367 $12,699 $12,030 $11,362 $10,694 $10,025
$1,586,899 $1,753,199 $1,925,294 $2,090,446 $2,187,925 $2,414,568 $2,638,804 $2,783,936 $2,876,917 $2,861,154
Sales Proceeds AnalysisSales Proceeds Analysis 1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected]
© Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
Page 8Page 8
1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
MEASURES OFINVESTMENT
PERFORMANCE
Summary of Investment Measures
For the Year EndingYear 1
May-2021
Year 2
May-2022
Year 3
May-2023
Year 4
May-2024
Year 5
May-2025
Year 6
May-2026
Year 7
May-2027
Year 8
May-2028
Year 9
May-2029
Year 10
May-2030
Loan-to-Value (LTV) - 1st Lien
Combined LTV
DSCR - 1st Lien
Combined DSCR
Before Tax Cash on Cash
After Tax Cash on Cash
Effective Annual Cost of Borrowed Funds
Before Tax Impact of Leverage
After Tax Effective Cost of Funds
After Tax Impact of Leverage
Before Tax EQUITY Yield (IRR)
After Tax EQUITY Yield (IRR)
Acquisition CAP Rate
Cost of Sale upon Disposition
Combined LTV at Acquisition
Combined DSCR at Acquisition
Year Property Sold 1 2 3 4 5 6 7 8 9 10
Before Tax Unleveraged Property Yield (IRR)
After Tax Unleveraged Property Yield (IRR)
Effective Unleveraged Tax Rate
Effective Tax Rate (Includes Leverage)
5.66%
0.00%
70.00%
1.15
70.84% 67.47% 64.17% 61.12% 59.08% 55.43% 52% 49.56% 47.66% 46.81%
70.84% 67.47% 64.17% 61.12% 59.08% 55.43% 52% 49.56% 47.66% 46.81%
1.15 1.18 1.21 1.25 1.27 1.28 1.33 1.37 1.38 1.38
1.15 1.18 1.21 1.25 1.27 1.28 1.33 1.37 1.38 1.38
2.43% 2.92% 3.42% 3.94% 4.39% 4.51% 5.22% 5.88% 6.15% 6.15%
1.80% 2.09% 2.26% 2.44% 2.57% 2.51% 2.78% 3.01% 3.02% 2.76%
2.44% 5.42% 6.42% 6.85% 6.80% 7.18% 7.41% 7.39% 7.27% 6.98%
1.07% 3.34% 4.11% 4.45% 4.42% 4.73% 4.94% 4.93% 4.84% 4.60%
56.15% 38.38% 35.98% 35.04% 35.00% 34.12% 33.33% 33.29% 33.43% 34.10%
0.00% 27.24% 26.18% 25.72% 25.84% 25.02% 24.36% 24.37% 24.63% 25.58%
6.01% 5.50% 5.33% 5.24% 5.19% 5.15% 5.13% 5.11% 5.09% 5.08%
2.44% ↓ 0.17% ↓ 2.29% ↑ 3.18% ↑ 3.07% ↑ 3.61% ↑ 3.84% ↑ 3.69% ↑ 3.41% ↑ 2.95% ↑3.40% 3.11% 3.02% 2.97% 2.94% 2.91% 2.90% 2.89% 2.88% 2.88%
1.07% ↓ 0.48% ↑ 2.32% ↑ 3.00% ↑ 2.90% ↑ 3.36% ↑ 3.57% ↑ 3.45% ↑ 3.21% ↑ 2.79% ↑
N/A 5.25% 8.71% 10.03% 9.87% 10.79% 11.25% 11.08% 10.68% 9.93%
N/A 3.82% 6.43% 7.45% 7.32% 8.09% 8.51% 8.38% 8.05% 7.39%
Measures of Investment PerformanceMeasures of Investment Performance
AnalysisAnalysis
1607 S Lamar1607 S LamarFiscal Year Beginning June 2020
Nick Nelson, CCIMNick Nelson, CCIMCommercial Industrial PropertiesCommercial Industrial Properties3737 Executive Center Dr., Austin TX 78731Phone: 512-682-1006 | Email: [email protected]
© Copyright 2011- 2020 CRE Tech, Inc. All Rights Reserved.
DISCLAIMER: All information is based on estimated forecast and are intended for the purpose of example projections and analysis. The information presented herein is provided as is, without warranty of any kind. Neither Commercial IndustrialProperties nor CRE Tech, Inc. assume any liability for errors or omissions. This information is not intended to replace or serve as substitute for any legal, investment, real estate or other professional advice, consultation or service.
Page 9Page 9
1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
INFOGRAPHIC10 MIN
DRIVE TIME
Source: This infographic contains data provided by Esri, Esri and Infogroup. The vintage of the data is 2019, 2024.
KEY FACTS
141,215Population
33.0Median Age
1.9Average Household Size
$69,107Median Household Income
EDUCATION
8%
No High School
Diploma10%
High School Graduate
20%Some
College62%
Bachelor's/Grad/Prof Degree
BUSINESS
13,465Total Businesses
181,987Total Employees
EMPLOYMENT
76%White Collar
9%Blue Collar
15%Services
3.4%Unemployment
Rate
INCOME
$69,107
Median Household
Income
$52,727
Per Capita Income
$40,505
Median Net Worth
Households By IncomeThe largest group: $50,000 - $74,999 (16.2%)
The smallest group: $15,000 - $24,999 (7.3%)
Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
10.9%
$75,000 - $99,999
7.3%
$100,000 - $149,999
7.3%
$150,000 - $199,999
11.2%
$200,000+
16.2%
+3.3%
10.9%
+0.8%
15.1%
+0.6%
8.4%
-0.1%
12.7%
-1.5%
-1.7%
-2.4%
-0.5%
+1.6%
Bars show deviation from
Travis County
Source: This infographic contains data provided by Esri, Esri and Infogroup. The vintage of the data is 2019, 2024.
1607 S Lamar | Austin, TX, 78704
512 682 10009130 Jollyville Rd., Suite 300
Austin, TX 78759cipaustin.com
All information furnished regarding this property is from sources deemed reliable; however, CIP Austin has not made an independent investigation of these sources and no warranty or representation is made by CIP Austin as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal from market without notice. CIP Austin further has not made and shall not make any warranty or representations as to the condition of the property nor the presence of any hazardous substances or any environmental or other conditions that may affect the value or suitability of the property.
• Austin was the fastest growing large city in 2019 (Source: WalletHub)
• Austin has the #1 job market in America (Source: The Wall Street Journal)
• Austin was ranked the #1 place to live in America 3 years in a row (Source: Forbes)
• Austin named best U.S. city for starting a business (Source: Inc.)
• Austin’s economy grew by 5.6% in 2018, making it the 5th fastest growing major metropolitan area economy (Source: Austin Chamber or Commerce)
• Austin is the 11th largest city in the U.S. with a metropolitan population of over 2 Million (Source: factfinder.census.gov)
• Austin is ranked the #3 best performing city (Source: Milken Institute)
• Austin is one of the top 10 US metros for VC Investment (Source: PitchBook)
• Over 15 millions travlers passed through Austin ABIA Airport in 2019 (Source: KXAN)
• More than 27.4 million people visit Austin each year (Source: Austintexas.org)
• Austin had 3.5% job growth in 2019, making it the 2nd fastest growing major metro area (Source: Austin Chamber of Commerce)
• Austin is a major tech hub with major employers including Samsung, Dell, IBM, Oracle, Apple, and Amazon (Source: Austin Business Journal)
WHY AUSTIN?
11-2-2015
TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage ac�vi�es, including acts performed by sales agents sponsored by the broker.A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material informa�on about the property or transac�on received by the broker;Answer the client’s ques�ons and present any offer to or counter-offer from the client; andTreat all par�es to a real estate transac�on honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wri�en lis�ng to sell or property management agreement. An owner's agent must perform the broker’s minimum du�es above and must inform the owner of any material informa�on about the property or transac�on known by the agent, including informa�on disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wri�en representa�on agreement. A buyer's agent must perform the broker’s minimum du�es above and must inform the buyer of any material informa�on about the property or transac�on known by the agent, including informa�on disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the par�es the broker must rst obtain the wri�en agreement of each party to the transac�on. The wri�en agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obliga�ons as an intermediary. A broker who acts as an intermediary:
Must treat all par�es to the transac�on impar�ally and fairly;May, with the par�es' wri�en consent, appoint a different license holder associated with the broker to each party (owner andbuyer) to communicate with, provide opinions and advice to, and carry out the instruc�ons of each party to the transac�on. Must not, unless specically authorized in wri�ng to do so by the party, disclose: ᴑ that the owner will accept a price less than the wri�en asking price;ᴑ that the buyer/tenant will pay a price greater than the price submi�ed in a wri�en offer; andᴑ any conden�al informa�on or any other informa�on that a party specically instructs the broker in wri�ng not to
disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transac�on without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner rst.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s du�es and responsibili�es to you, and your obliga�ons under the representa�on agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This no�ce is being provided for informa�on purposes. It does not create an obliga�on for you to use the broker’s services. Please acknowledge receipt of this no�ce below and retain a copy for your records.
Information About Brokerage Services Texas law requires all real estate license holders to give the following informa on about
brokerage services to prospec ve buyers, tenants, sellers and landlords.
.
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No.
Regulated by the Texas Real Estate Commission Informa on available at www.trec.texas.gov IABS 1-0
Date Buyer/Tenant/Seller/Landlord Initials
Sales Agent/Associate’s Name License No. Email Phone
Commercial Industrial Properties, LLC 9007597 [email protected] (512) 682-1000
Robert Springer 627720
Phone
(512) 682-1001
Robby Eaves / Nick Nelson 588199/603416 [email protected] / [email protected] 512-682-1000