EXCLUSIVE NET-LEASED OFFERING · EXCLUSIVE NET-LEASED OFFERING RENT SCHEDULE Annual Rent Annual...
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EXCLUSIVE NET-LEASED OFFERING GOLF GALAXY 7226 SMITH CORNERS BOULEVARD CHARLOTTE, NC 28269 OFFERING SUMMARY Price $3,061,500 Net Operating Income $275,700 Capitalization Rate 9.01% Price/SF $204.10 Net Cash Flow After Debt Service 14.45% / $132,759 Down Payment 30% / $918,450 Loan Amount $2,143,050 Loan Type Financed - New Loan Interest Rate / Amortization 4.50% / 25 Years Cash on Cash Return 14.45% Rent/SF $18.38 Gross Leasable Area 15,000 SF Year Built/Renovated 2007 Lot Size 1.07 acre(s) LEASE SUMMARY Tenant Golf Galaxy Credit Rating Not Rated Lease Type NNN Lease Commencement 5/19/2006 Lease Expiration 1/31/2023 Lease Term Remaining 5.5 Years Options 4 - Five Year Options with 3% Increase in Each Option Period EXCLUSIVELY LISTED BY: Eric Schaffer Associate Tel: (615) 997-2855 Licenses: FL SL3067749, TN 00326309 [email protected] www.marcusmillichap.com/EricSchaffer Raj Ravi Regional Manager Tel: (704) 831-4650 License: NC 281290 [email protected] This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. (Activity ID: Y0480117 Property ID: 4642229)
Transcript of EXCLUSIVE NET-LEASED OFFERING · EXCLUSIVE NET-LEASED OFFERING RENT SCHEDULE Annual Rent Annual...
EXCLUSIVE NET-LEASED OFFERING
GOLF GALAXY7226 SMITH CORNERS BOULEVARDCHARLOTTE, NC 28269
OFFERING SUMMARY
Price $3,061,500Net Operating Income $275,700Capitalization Rate 9.01%Price/SF $204.10Net Cash Flow After Debt Service 14.45% / $132,759Down Payment 30% / $918,450
Loan Amount $2,143,050
Loan Type Financed - New LoanInterest Rate / Amortization 4.50% / 25 Years
Cash on Cash Return 14.45%Rent/SF $18.38Gross Leasable Area 15,000 SFYear Built/Renovated 2007Lot Size 1.07 acre(s)
LEASE SUMMARY
Tenant Golf Galaxy
Credit Rating Not Rated
Lease Type NNN
Lease Commencement 5/19/2006
Lease Expiration 1/31/2023
Lease Term Remaining 5.5 Years
Options
4 - Five Year Options with 3% Increase in Each Option Period
EXCLUSIVELY LISTED BY:
Eric SchafferAssociateTel: (615) 997-2855Licenses: FL SL3067749, TN [email protected]/EricSchaffer
Raj RaviRegional ManagerTel: (704) 831-4650License: NC [email protected]
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. (Activity ID: Y0480117 Property ID: 4642229)
EXCLUSIVE NET-LEASED OFFERING
RENT SCHEDULE
Annual Rent Annual Rent/SF Monthly Rent Year Percent Increase
$275,700 $18.38 $22,975 Current N/A
$225,000 $15.00 $18,750 2/1/18 - 1/31/23 -18.39%
DEMOGRAPHICS
1 Miles 3 Miles 5 Miles
2016 Population 1,144 40,148 134,201
2010 Population 892 33,900 115,836
2016 Households 664 15,750 51,580
2010 Households 520 13,241 44,456
Average HH Income $68,790 $75,584 $77,571
GOLF GALAXY7226 SMITH CORNERS BOULEVARDCHARLOTTE, NC 28269
INVESTMENT HIGHLIGHTS
§ Subsidiary of Dick's Sporting Goods, Inc. - The Largest Sports Retailer in the
U.S.
§ Triple-Net Lease - Corporate Guaranteed by Dick's
§ Located Across from Northlake Mall (One Million Square Feet of Retail - 150+
Stores)
§ Four Five-Year Renewal Options with $0.50 Bumps
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. (Activity ID: Y0480117 Property ID: 4642229)
