Billingsley Promenade ... Option 1 Five Years 01-Jul-23 01-Jul-27 01-Jul-23 $1,998.29 $1.52...

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Transcript of Billingsley Promenade ... Option 1 Five Years 01-Jul-23 01-Jul-27 01-Jul-23 $1,998.29 $1.52...

  • Billingsley Promenade

    3441 Malcolm Dr., Montgomery, AL 36116

  • Billingsley Promenade

    THE INFORMATION ABOVE HAS BEEN OBTAINED FROM A SOURCE WE BELIEVE TO BE RELIABLE, HOWEVER, WE ACCEPT NO RESPONSIBILITY FOR ITS ACCURACY.

    CASSANDRA CHANDLER (205) 531 – 5208 - 2 - CASEY R. THOMAS (205) 602 - 1927

    3441 Malcolm Dr., Montgomery, AL 36116

    Contents

    Table of Content Page 2 Property Details Page 3 Major Tenant Information Page 4 Rent Roll Page 5 - 6 Income Statement Page 7 Demographics Page 8 Geographic Location Page 9 Property Photos Page 10 - 18

  • Billingsley Promenade

    THE INFORMATION ABOVE HAS BEEN OBTAINED FROM A SOURCE WE BELIEVE TO BE RELIABLE, HOWEVER, WE ACCEPT NO RESPONSIBILITY FOR ITS ACCURACY.

    CASSANDRA CHANDLER (205) 531 – 5208 - 3 - CASEY R. THOMAS (205) 602 - 1927

    3441 Malcolm Dr., Montgomery, AL 36116

    Property Details

    * Year Built – 2008 * Ample Parking Price: $4,000,000

    * Solid Tenants Property Type: Retail

    * Lot - 2.07+/- AC Property Sub-type: Storefront Retail/Office

    * GLA - 18,720 Building Class: A

    Sale Type: Investment Price: $4,000,000 Lot Size: 2.07 AC Gross Leasable Area: 18,720 SF View the full listing here: https://www.loopnet.com/Listing/3441-Malcolm-Dr-Montgomery-AL/15104099/ Sale Conditions: Existing No. Stories: 1 Year Built: 2008 Tenancy: Multiple Parking Ratio: 6.36/1,000 SF Zoning Description: PUD APN / Parcel ID: 09-09-29-3-000-001.004 Cross Streets: Vaughn Rd

    https://www.loopnet.com/Listing/3441-Malcolm-Dr-Montgomery-AL/15104099/

  • Billingsley Promenade

    THE INFORMATION ABOVE HAS BEEN OBTAINED FROM A SOURCE WE BELIEVE TO BE RELIABLE, HOWEVER, WE ACCEPT NO RESPONSIBILITY FOR ITS ACCURACY.

    CASSANDRA CHANDLER (205) 531 – 5208 - 4 - CASEY R. THOMAS (205) 602 - 1927

    3441 Malcolm Dr., Montgomery, AL 36116

    Major Tenant Information

    Tenant SF Occupied Lease Expired Five Year Option Tipico De Mexico 4,017 December 2019 August 2024

    Anne Docarmo Taekwondo Center, LLC

    2,691 September 2021 October 2026

    Chin Chin Chinese & Sushi Restaurant

    2,808 February 2022 March 2026

    Mathnasium, LLC 1,950 August 2024 September 2028

    Rosie's Nails 1,248 October 2019 July 2024

    Pearl Massage 1,315 June 2022 July 2027

    Mission Fitness 3,443 August 2018 September 2024

  • Billingsley Promenade

    THE INFORMATION ABOVE HAS BEEN OBTAINED FROM A SOURCE WE BELIEVE TO BE RELIABLE, HOWEVER, WE ACCEPT NO RESPONSIBILITY FOR ITS ACCURACY.

    CASSANDRA CHANDLER (205) 531 – 5208 - 5 - CASEY R. THOMAS (205) 602 - 1927

    3441 Malcolm Dr., Montgomery, AL 36116

    Rent Roll

    Market LL

    Suite # Tenant Name Sq. Ft. % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type PSF / Yr T. I. s Admin.

    101 & 102 4,017 20.68% 01-Aug-07 31-Dec-19 Current $6,250.00 $1.56 $75,000.00 $18.67 NNN $0.00

    Option 1 Five Years 01-Jan-19 01-Jan-23 01-Jan-19 $6,562.50 $1.63 $78,750.00 $19.60

    01-Jan-20 $6,890.63 $1.72 $82,687.50 $20.58

    01-Jan-21 $7,235.16 $1.80 $86,821.88 $21.61

    01-Jan-22 $7,596.91 $1.89 $91,162.97 $22.69

    01-Jan-23 $7,976.76 $1.99 $95,721.12 $23.83

    103 2,691 13.86% 01-Oct-16 30-Sep-21 Current $3,300.00 $1.23 $39,600.00 $14.72 Gross $0.00

    01-Oct-20 $3,465.00 $1.29 $41,580.00 $15.45

    01-Oct-21 $3,638.25 $1.35 $43,659.00 $16.22

    Option 1 Five Years 01-Oct-22 01-Oct-26 01-Oct-22 $3,820.16 $1.42 $45,841.95 $17.04

    01-Oct-23 $4,011.17 $1.49 $48,134.05 $17.89

    01-Oct-24 $4,211.73 $1.57 $50,540.75 $18.78

    01-Oct-25 $4,422.32 $1.64 $53,067.79 $19.72

    01-Oct-26 $4,643.43 $1.73 $55,721.18 $20.71

    104 & 105 2,808 14.46% 01-Mar-12 28-Feb-22 Current $3,744.00 $1.33 $44,928.00 $16.00 NNN $0.00

    01-Mar-20 $3,931.20 $1.40 $47,174.40 $16.80

    01-Mar-21 $4,127.76 $1.47 $49,533.12 $17.64

    Option 1 Five Years 01-Mar-22 01-Mar-26 01-Mar-22 $4,334.15 $1.54 $52,009.78 $18.52

    01-Mar-23 $4,550.86 $1.62 $54,610.26 $19.45

    01-Mar-24 $4,778.40 $1.70 $57,340.78 $20.42

    01-Mar-25 $5,017.32 $1.79 $60,207.82 $21.44

    01-Mar-26 $5,268.18 $1.88 $63,218.21 $22.51

    106 & 108 1,950 10.04% 06-Sep-17 31-Aug-24 Current $2,925.00 $1.50 $35,100.00 $18.00 NNN $0.00

    01-Sep-20 $3,071.25 $1.58 $36,855.00 $18.90

    01-Sep-21 $3,224.81 $1.65 $38,697.75 $19.85

    01-Sep-22 $3,386.05 $1.74 $40,632.64 $20.84

    01-Sep-23 $3,555.36 $1.82 $42,664.27 $21.88

    Option 1 Five Years 01-Sep-24 01-Sep-28 01-Sep-24 $3,733.12 $1.91 $44,797.48 $22.97

    01-Sep-25 $3,919.78 $2.01 $47,037.36 $24.12

    01-Sep-26 $4,115.77 $2.11 $49,389.22 $25.33

    01-Sep-27 $4,321.56 $2.22 $51,858.69 $26.59

    01-Sep-28 $4,537.64 $2.33 $54,451.62 $27.92

    Chin Chin Chinese &

    Sushi Restaurant

    Anne Docarmo

    Taekwondo Center, LLC

    Mathnasium, LLC

    Tipico de Mexico None

    Rental RatesLease Terms

    Responsibilites

  • Billingsley Promenade

    THE INFORMATION ABOVE HAS BEEN OBTAINED FROM A SOURCE WE BELIEVE TO BE RELIABLE, HOWEVER, WE ACCEPT NO RESPONSIBILITY FOR ITS ACCURACY.

    CASSANDRA CHANDLER (205) 531 – 5208 - 6 - CASEY R. THOMAS (205) 602 - 1927

    3441 Malcolm Dr., Montgomery, AL 36116

    Rent Roll

    Market LL

    Suite # Tenant Name Sq. Ft. % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type PSF / Yr T. I. s Admin.

    107 1,248 6.43% 29-Jul-09 31-Oct-19 Current $2,000.00 $1.60 $24,000.00 $19.23 NNN $0.00

    Option 1 Five Years 01-Nov-20 01-Nov-24 01-Nov-20 $2,100.00 $1.68 $25,200.00 $20.19

    01-Nov-21 $2,205.00 $1.77 $26,460.00 $21.20

    01-Nov-22 $2,315.25 $1.86 $27,783.00 $22.26

    01-Nov-23 $2,431.01 $1.95 $29,172.15 $23.38

    01-Nov-24 $2,552.56 $2.05 $30,630.76 $24.54

    109 1,315 6.77% 01-Jul-17 30-Jun-22 Current $1,644.00 $1.25 $19,728.00 $15.00 NNN $0.00

    01-Jul-20 $1,726.20 $1.31 $20,714.40 $15.75

    01-Jul-21 $1,812.51 $1.38 $21,750.12 $16.54

    01-Jul-22 $1,903.14 $1.45 $22,837.63 $17.37

    Option 1 Five Years 01-Jul-23 01-Jul-27 01-Jul-23 $1,998.29 $1.52 $23,979.51 $18.24

    01-Jul-24 $2,098.21 $1.60 $25,178.48 $19.15

    01-Jul-25 $2,203.12 $1.68 $26,437.41 $20.10

    01-Jul-26 $2,313.27 $1.76 $27,759.28 $21.11

    01-Jul-27 $2,428.94 $1.85 $29,147.24 $22.17

    110 & 111 3,433 17.73% 01-Sep-13 31-Aug-18 Current $4,734.00 $1.38 $56,808.00 $16.55 NNN $0.00

    Option 1 Five Years 01-Sep-20 01-Sep-24 01-Sep-20 $4,970.70 $1.45 $59,648.40 $17.38

    01-Sep-21 $5,219.24 $1.52 $62,630.82 $18.24

    01-Sep-22 $5,480.20 $1.60 $65,762.36 $19.16

    01-Sep-23 $5,754.21 $1.68 $69,050.48 $20.11

    01-Sep-24 $6,041.92 $1.76 $72,503.00 $21.12

    112 1,960 10.09% -------------- -------------- Current $2,650.00 $1.35 $31,800.00 $16.22 NNN $0.00

    Option 1 Five Years 01-Sep-20 01-Sep-24 01-Sep-20 $2,782.50 $1.42 $33,390.00 $17.04

    01-Sep-21 $2,921.63 $1.49 $35,059.50 $17.89

    01-Sep-22 $3,067.71 $1.57 $36,812.48 $18.78

    01-Sep-23 $3,221.09 $1.64 $38,653.10 $19.72

    01-Sep-24 $3,382.15 $1.73 $40,585.75 $20.71

    Mission Fitness

    Lease Terms

    Pearl Massage

    Rosie's Nails

    Rental Rates

    Responsibilites

    Vacant

  • Billingsley Promenade

    THE INFORMATION ABOVE HAS BEEN OBTAINED FROM A SOURCE WE BELIEVE TO BE RELIABLE, HOWEVER, WE ACCEPT NO RESPONSIBILITY FOR ITS ACCURACY.

    CASSANDRA CHANDLER (205) 531 – 5208 - 7 - CASEY R. THOMAS (205) 602 - 1927

    3441 Malcolm Dr., Montgomery, AL 36116

    Income Statement

    Net Income Statement Sales Price $3,500,000.00

    Sq. Ft. 19,422 Current 2020 2021 2022 2023 2024

    Revenues $326,964.00 $343,312.20 $360,477.81 $378,501.70 $397,426.79 $417,298.12

    $31,800.00 $31,800.00 $31,800.00 $31,800.00 $31,800.00 $31,800.00

    $49,044.60 $49,535.05 $50,030.40 $50,530.70 $51,036.01 $51,546.37

    $376,008.60 $392,847.25 $410,508.21 $429,032.40 $448,462.79 $468,844.49

    $21,715.00 $21,715.00 $21,715.00 $21,715.00 $21,715.00 $21,715.00

    $4,756.00 $4,756.00 $4,756.00 $4,756.00 $4,756.00 $4,756.00

    $10,597.00 $10,597.00 $10,597.00 $10,597.00 $10,597.00 $10,597.00

    $880.00 $880.00 $880.00 $880.00 $880.00 $880.00

    $9,000.00 $9,000.00 $9,000.00 $9,000.00 $9,000.00 $9,000.00

    $4,246.00 $4,246.00 $4,246.00 $4,246.00 $4,246.00 $4,246.00

    $2,778.00 $2,778.00 $2,778.00 $2,778.00 $2,778.00 $2,778.00

    $53,972.00 $53,972.00 $53,972.00 $53,972.00 $53,972.00 $53,972.00

    $322,036.60 $338,875.25 $356,536.21 $375,060.40 $394,490.79 $414,872.49

    $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

    NET CASH FLOW AFTER DEBT SERVICE $322,036.60 $338,875.25 $356,536.21 $375,060.40 $394,490.79 $414,872.49

    Cap Rate 9.20% 9.68% 10.19% 10.72% 11.27% 11.85%

    Expense Per Sq. Ft. $2.78 $2.78 $2.78 $2.78 $2.78 $2.78

    % of EGR 14.35% 13.74% 13.15% 12.58% 12.03% 11.51%

    3441 Malcolm Drive,

    Montgomery, AL 36116

    The information above has been obtained from a source we believe to be reliable, however, we accept no responsibility for

    its accuracy.

    Billingsley Promenade

    TOTAL EXPENSES

    Debt Service

    Utilities

    NET OPERATING INCOME

    Projected Proforma

    Insu