CONFIDENTIAL OFFERING MEMORANDUM TEXAS CAR TITLE & PAYDAY LOANS … · 2017. 3. 17. · texas car...

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Exclusively Offered By: Ty Underwood 214-520-8818 ext. 4 Fax: 214-520-8815 [email protected] SLJ COMPANY, LLC 4311 W. Lovers Lane, Suite 200 Dallas, TX 75209 214-520-8818 TEXAS CAR TITLE & PAYDAY LOANS FOR SALE 6001 WATAUGA RD, WATAUGA, TX 76148 CONFIDENTIAL OFFERING MEMORANDUM

Transcript of CONFIDENTIAL OFFERING MEMORANDUM TEXAS CAR TITLE & PAYDAY LOANS … · 2017. 3. 17. · texas car...

Page 1: CONFIDENTIAL OFFERING MEMORANDUM TEXAS CAR TITLE & PAYDAY LOANS … · 2017. 3. 17. · texas car title & payday loans . for sale . 6001 watauga rd, watauga, tx 76148 . confidential

Exclusively Offered By: Ty Underwood

214-520-8818 ext. 4 Fax: 214-520-8815

[email protected]

SLJ COMPANY, LLC 4311 W. Lovers Lane, Suite 200 Dallas, TX 75209 214-520-8818

TEXAS CAR TITLE & PAYDAY LOANS FOR SALE 6001 WATAUGA RD, WATAUGA, TX 76148

CONFIDENTIAL OFFERING MEMORANDUM

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TABLE OF CONTENTS 6001 WATAUGA RD | 1

I. 2 AERIAL PHOTOGRAPHS

II. 4 PROPERTY POTOGRAPHS

III. 6 EXECUTIVE SUMMARY

IV. 7 PROPERTY PROFILE

V. 8 FINANCIAL & LEASE INFORMATION

VI. 9 SURVEY

VII. 10 LOCATION MAP

VIII. 11 LOCATION OVERVIEW

IV. 12 DEMOGRAPHICS

X. 13 DISCLAIMER & DISCLOSURE

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21,589 VPD

SITE

Sara

mac

Dr

Watauga Rd

AERIAL PHOTOGRAPH 6001 WATAUGA RD | 2

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AERIAL PHOTOGRAPH 6001 WATAUGA RD | 3

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PROPERTY PHOTOGRAPH 6001 WATAUGA RD | 4

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PROPERTY PHOTOGRAPH 6001 WATAUGA RD | 5

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EXECUTIVE SUMMARY & HIGHLIGHTS

EXECUTIVE SUMMARY SLJ Company, LLC (“SLJ”) has been exclusively retained to offer Texas Car Title & Payday Loan Services, Inc., a 1,150 square foot property, situated on 0.57 acres in Watauga, Texas. Texas Car Title & Payday Loan Services, Inc. currently has 5 plus years remaining on a triple-net lease, with one five-year option to renew left. Texas Car Title & Payday Loan Services, Inc. is situated on Watauga Road in the northeast part of the Fort Worth MSA. The property is located in a densely populated area and the daily traffic counts along Watauga Road exceed 21,000 vehicles per day. Surrounding national retailers include CVS Pharmacy, Big Lots!, Discount Tire and many others. Overall, Texas Car Title & Payday Loan Services, Inc. allows an investor the opportunity to obtain a triple-net lease, with minimal landlord responsibility in Watauga, Texas.

PROPERTY HIGHLIGHTS • Under Replacement Cost

• Proven Location in Option Period

• Corporate Guarantee

• Planned Replacement of Watauga Road

• Average Household Income is Over $86,307

• Population Over 289,548 Within a 5-mile Radius

• Traffic Counts Exceed 21,000 Vehicles Per Day

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PROPERTY PROFILE

LOCATION The subject property is located at 6001 Watauga Rd, between Saramac Dr and Whitley Rd, in Watauga, Texas 76148.

PRICE $517,622

CAP RATE 9.25%

NET OPERATING INCOME $47,880

GROSS LEASABLE AREA 1,150 Square Feet

LAND AREA 0.57 Acres (24,829 Square Feet)

YEAR BUILT 1978

FINANCING Free & Clear

ZONING GB – General Business District

TRAFFIC COUNTS Watauga Rd 21,589 VPD (2012) Whitley Rd 2,038 VPD (2012)

MINERALS None

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FINANCIAL & LEASE INFORMATION RENT ROLL % of Current Lease Term Current Base Rent / Yr. Rent Renewal Tenant SF Bldg Start End Term PSF Total Increases Options

Texas Car Title & Payday Loan 1,150 100% 2/1/2016 1/30/2021 5 years $41.63 $47,880 None 1, 5 year Services, Inc.

TOTAL 1,150 100% $41.63 $47,880

ANNUALIZED OPERATING DATA Years Commencement Annual Rent Increase

1-5 01/31/2011 $42,000 - Option 1: Years 6-10 02/01/2016 $47,880 14.00% Option Years 11-15 02/01/2021 $54,583 14.00%

Net Operating Income (NOI) $47,880.00

Texas Car Title and Payday Loan Services, Inc. is the leading credit access business in Texas. Every day at more than 200 locations throughout Texas, Texas Car Title & Payday Loan Services, Inc. is committed to helping customers get the best deal on a Car Title Loan or Payday Loan.

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TENANT SUMMARY Tenant Texas Car Title & Payday Loans, Inc.

Ownership Private

Number of Locations 200+

Website http://texas514cash.com/ LEASE SUMMARY Lease Term 5 Years Lease Commencement 01/31/2011 Lease Expiration 01/31/2021

Remaining Term 5 Years

Lease Type NNN

Roof & Structure Landlord

Options Remaining 1 x 5 Year

Option to Purchase None

29. TERMINATION. After the seventeenth (17th) month of the Lease, or any extension hereto, Tenant may terminate this lease upon thirty (30) days notice to the Landlord and by paying to the Landlord a termination fee equal to (i) six month’s rent and other sums due hereunder at the then applicable monthly rental rate, plus (ii) an amount equal to Landlord’s unamortized leasing commissions incurred in connection with this lease and (iii) payment and performance of all other obligations of Tenant hereunder through the effective date of any such termination.

LEASE NOTES

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SURVEY 6001 WATAUGA RD | 9

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LOCATION MAP 6001 WATAUGA RD | 10

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FORT WORTH, TEXAS

The city of Fort Worth is often referred to as “Where the West Begins.” Fort Worth is the 17th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, and covers nearly 350 square miles (910 km2) in Tarrant, Denton, Parker and Wise counties. According to the 2013 census estimates, Fort Worth had a population of 792,727. The city is also home to Texas Christian University, Texas Wesleyan University, University of North Texas Health Science Center, Texas A&M University School of Law, and many multinational corporations including Bell Helicopter, Lockheed Martin, American Airlines, American Airlines Group (and subsidiaries American Airlines and Envoy Air), the John Peter Smith Hospital, Pier 1 Imports, RadioShack, the BNSF Railway, and Lockheed Martin. In 2013, Fort Worth-Arlington ranked No. 15 on Forbes’ list of the Best Places for Business and Careers.

The Fort Worth Stockyards now celebrates Fort Worth’s long tradition as a part of the cattle industry and was listed on the National Register as a historical district in 1976. The listing included 46 contributing buildings and one other contributing structure. The Stockyards consist of mainly entertainment and shopping venues that capitalize on the “Cowtown” image

of Fort Worth. Home to the famous boot making company M.L. Leddy’s which is located in the heart of the Stockyards and The Maverick Fine Western Wear and Saloon where customers “can ‘belly up’ to the bar, relax and have a cold beer while in the Stockyards; just like they did in the days of the big cattle drives”, as they shop around the store. Many bars and nightclubs (including Billy Bob’s Texas) are located in the vicinity, there is also an opry and a rodeo. The Fort Worth Stockyards are the last standing stockyards in the United States.

LOCATION OVERVIEW 6001 WATAUGA RD | 11

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DEMOGRAPHICS

RADIUS 1 MILE 3 MILE 5 MILE

2015 Total Population 16,226 133,028 289,548

2015 Daytime Population 12,596 101,168 258,406

2015 Estimated Households 5,296 47,052 100,719

RADIUS 1 MILE 3 MILE 5 MILE

2015 Avg Household Income $67,650 $77,455 $86,307

INCOME

POPULATION

AGE RADIUS 1 MILE 3 MILE 5 MILE

2015 Median Age Estimate 34 35 35

POPULATION BY ETHNICITY RADIUS 1 MILE 3 MILE 5 MILE

2015 White 76.61% 76.39% 76.72%

2015 Black 6.95% 6.39% 6.16%

2015 Native American 0.89% 0.64% 0.65%

2015 Asian 5.98% 6.15% 5.93%

2015 Pacific Islander 0.28% 0.18% 0.18%

2015 Two or More Races 2.86% 3.34% 3.32%

2015 Hispanic 24.23% 20.68% 20.97%

2015 Non-Hispanic 75.77% 79.32% 79.03%

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DISCLAIMER & DISCLOSURE

The material contained in this Memorandum is confidential, furnished solely for the purpose of considering an investment in the properties described herein, and is not to be used for any other purpose, or made available to any other person without the express written consent of the SLJ Company, LLC. The material is based, in part, upon information obtained from third party sources, which SLJ Company, LLC deems to be reliable. However, no warranty or representation is made by SLJ Company, LLC or its affiliates, agents, or representations as to the accuracy or completeness of the information contained herein. Prospective investors should make their own investigations, projections, and conclusions regarding this investment.

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