Northgate Shopping Center

2817 N 15TH ST, SHEBOYGAN, WI 53083

Northgate Shopping Center

Newmark, as exclusive advisor, is pleased to present the opportunity to acquire, Northgate Shopping Center, 2817 N 15th St (the Property), a ±72,150 square foot grocery anchored neighborhood retail center in Sheboygan, Wisconsin. The property is 90 percent leased and is anchored by Piggly Wiggly, features national tenants such as Family Dollar and H&R Block, in addition to Herslof Optical and a local tanning salon.

Offered at $6,000,000, the price represents a 7.49 CAP on current income.

Brian J Vanevenhoven, CRRP t 414-908-9160 [email protected]

CONTACT

Kevin J Schmoldt t 414-908-9164 [email protected]

2NEWMARK

NORTHGATE SHOPPING CENTER

The Offering

The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

SHEBOYGANWISCONSIN

2821-2927 N 15th St

±72,150 SF Total Building Area

±6.45 AC Land Area

±254 Parking Stalls

$6,000,000Sale Price

$83.16Price Per Square Foot

7.49%CAP Rate

$449,504Estimated Net Operating Income

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Vacant 2,000 SF

Vacant 4,200 SF

Vacant 1,700 SF

Property LineProperty Line

Not Included in Sale

SUITE TENANT NAMESIZE (SF)

2821 Family Dollar 8,000

2825 Vacant 2,000

2829 Beach Bums Tanning (Fusion Skin Spa) 2,500

2905 Piggly Wiggly 50,000

2915 H&R Block 2,500

2919 Vacant 1,700

2923 Herslof Optical (Vision Mart) 1,250

2927 Vacant 4,200

Total SF 72,150

Occupancy SF 64,250 (89.1%)

Vacancy SF 7,900 (10.9%)

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Space Plan

Dollar Tree, Inc., a Fortune 200 company, is a leading operator of discount variety stores that has served North America for more than thirty years. The Company is proudly headquartered in Chesapeake, Virginia and operates 15,000+ stores across the 48 contiguous states and five Canadian provinces, supported by a coast-to-coast logistics network and more than 193,000 associates. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada.

https://www.familydollar.com/

Family Dollar

Building on its 100+ year history in the grocery business, Piggly Wiggly Midwest continues to grow the Piggly Wiggly banner. Currently the Company operates corporate stores and services independent franchisees under a chain-style program. This program combines the strength and consistency of chain style centralized buying and merchandising with the locally tailored entrepreneurial management [skills, charm, hospitality and attention] of a community-based retailer. Tietz’s Piggly Wiggly is the local family operator of this location, but Piggly Wiggly Midwest LLC is the lease guarantor.

C&S Wholesale Grocers is an American wholesale distributor of food and grocery store items with its headquarters in Keene, New Hampshire, United States. C&S is the tenth-largest privately held company in the United States, as listed by Forbes. C&S owns the Piggly Wiggly grocery brand (which is independently franchised to store operators) as well as the Best Yet private label brand. C&S is the largest wholesale grocery distributor in the United States, based on revenue.

www.shopthepig.com & www.cswg.com

Piggly Wiggly Midwest LLC

Tenant Summary

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Providing vision exams and quality eyewear and contact lenses, Vision Mart has eight locations across eastern Wisconsin providing services to the Milwaukee, Waukesha, Green Bay, and Sheboygan markets.

http://visionmart.com/

Herslof Optical (Vision Mart)

We have always loved tanning, whether it was a day at the beach, laying out at home or, since we live in Wisconsin, tanning in a bed 8-9 months out of the year. Our vision for the future is to grow, expand, and bring our love of tanning to Sheboygan County.

https://www.beach-bums-tanning.com/

Beach Bums Tanning dba Fuzion Skin Spa

H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial services and small business solutions. The company blends digital innovation with the human expertise of its associates and franchisees as it helps people get the best outcome at tax time, and better manage and access their money year-round. Through Block Advisors and Wave, the company helps small business owners thrive with innovative products like Wave Money, a small business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically. other U.S. territories, on U.S. military bases internationally and around the world.

https://www.hrblock.com/

H&R Block

Tenant Summary

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Property LineProperty Line

Not Included in Sale

Parcel Map

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NORTH AVENUE 8,300 AADT15TH

ST 5,600 AA

DT

CALUMET DR 10,300 AADT

NORTH HIGH SCHOOL

AURORA SHEBOYGAN

MEDICAL CENTER

LAKE M

ICHIG

AN

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Retail Aerial

2.5 Mile Radius

2.5 Mile Radius

SheboyganSheboygan

Kohler Memorial DrKohler Memorial Dr

23

43

Lakeshore Rd

Lakeshore Rd

Taylor DrTaylor Dr

28

42

BLUE HARBOR RESORT

WHISTLING STRAITS GOLF

COURSE (3 MILES NORTH)

THE AMERICAN CLUB RESORT

HOTEL

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Retail Aerial

2.5 Mile Radius

2.5 Mile Radius

1 Mile 3 Miles 5 Miles

Population 12,927 42,334 59,793

Households 5,261 17,726 24,821

Median HH Inc. $55,114 $53,182 $54,597

Employees 3,670 26,947 40,786Source: ESRI

Demographics

5 Minutes 10 Minutes 15 Minutes

Population 21,738 46,396 72,977

Households 8,667 19,284 30,464

Median HH Inc. $54,687 $53,785 $55,940

Employees 5,578 29,229 48,807Source: ESRI

Demographics

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Demographics

Northgate Shopping Center is located in the City of Sheboygan is which is the county seat and principle city of Sheboygan County. The city has a population of 49,929 and the statistical area has a population of 118,034. The city is located along the western shore of Lake Michigan and sits inbetween Milwaukee (50 miles south) and Green Bay (65 miles north). It is also home to two top 100 golf courses (Whistling Straits, Blackwolf Run) and Wisconsin’s only five star hotel, The American Club Resort Hotel.

Prominent Employers

Employer Number of Employees

11 Kohler CoKohler Co 5,000+5,000+

22 Bemis Mfg. CoBemis Mfg. Co 1,000+1,000+

33 Aurora Medical Group Inc.Aurora Medical Group Inc. 1,000+1,000+

44 NemakNemak 1,000+1,000+

55 Sargento Foods IncSargento Foods Inc 1,000+1,000+

66 ACUITYACUITY 1,000+1,000+

77 Johnsonville SausageJohnsonville Sausage 500-999500-999

88 Rockline Industries IncRockline Industries Inc 500-999500-999

99 Fresh Brands Distributing Inc.*Fresh Brands Distributing Inc.* 500-999500-999

1010 HSHS St. Nicholas HospitalHSHS St. Nicholas Hospital 500-999500-999

*Also known as Piggly Wiggly - Midwest*Also known as Piggly Wiggly - Midwest

Source: Sheboygan EDCSource: Sheboygan EDC

Sheboygan, Wisconsin

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INCOMERENTAL INCOME

Rental Income $484,267

Expense Reimbursement $190,638

TOTAL INCOME $674,905 $9.35 PSF

EXPENSESCam $218,785 $3.03 PSF

Non Cam $6,616 $0.09 PSF

TOTAL EXPENSES $225,401 $3.12 PSF

NET OPERATING INCOME $449,504 $6.23 PSF

PRIC ING

Price $6,000,000 Price per Square Foot $83.16 CAP Rate 7.49%

FINANCINGLTV 75%Required Equity $1,500,000 Term (Years) 10Amortization Period (Years) 25Rate 3.75%Annual P/I $277,631 Annual Cash Flow $171,873 Cash on Cash Return 11.46%

Profit & Loss Financing & Returns

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Building Photos

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Building Photos

STATE OF WISCONSIN BROKER DISCLOSURE TO NON-RESIDENTIAL CUSTOMERSWisconsin law requires all real estate licensees to give the following information about brokerage services to prospective customers.

Prior to negotiating on your behalf the brokerage firm, or an agent associated with the firm, must provide you the following disclosure statement.

BROKER DISCLOSURE TO CUSTOMERSYou are the customer of the brokerage firm (hereinafter Firm). The Firm is either an agent of another party in the transaction or a subagent of another firm that is the agent of another party in the transaction. A broker or a salesperson acting on behalf of the Firm, may provide brokerage services to you. Whenever the Firm is providing brokerage services to you, the Firm and its brokers and salespersons (hereinafter Agents) owe you, the customer, the following duties:

– The duty to provide brokerage services to you fairly and honestly.

– The duty to exercise reasonable skill and care in providing brokerage services to you.

– The duty to provide you with accurate information about market conditions within a reasonable time if you request it, unless disclosure of the information is prohibited by law.

– The duty to disclose to you in writing certain Material Adverse Facts about a property, unless disclosure of the information is prohibited by law (see “Definition of Material Adverse Facts” below).

– The duty to protect your confidentiality. Unless the law requires it, the Firm and its Agents will not disclose your confidential information or the confidential information of other parties (see “Confidentiality Notice To Customers” below).

– The duty to safeguard trust funds and other property held by the Firm or its Agents.

– The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the advantages and disadvantages of the proposals.

Please review this information carefully. An agent of the Firm can answer your questions about brokerage services, but if you need legal advice, tax advice, or a professional property inspection, contact an attorney, tax advisor, or property inspector.This disclosure is required by section 452.135 of the Wisconsin statutes and is for information only. It is a plain-language summary of a broker’s duties to a customer under section 452.133 (1) of the Wisconsin statutes.

CONFIDENTIALITY NOTICE TO CUSTOMERSThe Firm and its Agents will keep confidential any information given to the Firm or its Agents in confidence, or any information obtained by the Firm or its Agents that a reasonable person would want to be kept confidential, unless the information must be disclosed by law or you authorize the Firm to disclose particular information. The Firm and its Agents shall continue to keep the information confidential after the Firm is no longer providing brokerage services to you.The following information is required to be disclosed by law:

1. Material Adverse Facts, as defined in section 452.01 (5g) of the Wisconsin statues (see “definition of material adverse facts” below).2. Any facts known by the Firm or its Agents that contradict any information included in a written inspection report on the property or real estate that is the subject of the transaction.To ensure that the Firm and its Agents is aware of what specific information you consider confidential, you may list that information below or provide that information to the Firm or its Agents by other means. At a later time, you may also provide the Firm or its Agents with other information that you consider to be confidential.CONFIDENTIAL INFORMATION: ________________________________________________________________________________________________________________________________________________NON-CONFIDENTIAL INFORMATION (The following information may be disclosed by the Firm and its Agents): _______________________________________________________________________________________________________________________________________________________________(INSERT INFORMATION YOU AUTHORIZE TO BE DISCLOSED SUCH AS FINANCIAL QUALIFICATION INFORMATION)

SEX OFFENDER REGISTRYNotice: You may obtain information about the sex offender registry and persons registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at http://www.doc.wi.gov/ or by phone at 608-240-5830.

DEFINIT ION OF MATERIAL ADVERSE FACTSA “Material Adverse Fact” is defined in Wis. Stat. 452.01 (5g) as an adverse fact that a party indicates is of such significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects or would affect the party’s decision to enter into a contract or agreement concerning a transaction or affects or would affect the party’s decision about the terms of such a contract or agreement. An “Adverse Fact” is defined in Wis. Stat. 452.01 (1e) as a condition or occurrence that a competent licensee generally recognizes will significantly and adversely affect the value of the property, significantly reduce the structural integrity of improvements to real estate, or present a significant health risk to occupants of the property; or information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations under a contract or agreement made concerning the transaction.

No representation is made as to the legal validity of any provision or the adequacy of any provision on any specific transaction.

The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or

representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change

or withdrawal without notice.

Kevin J Schmoldt Managing Directort 414-908-9164 [email protected]

Brian J Vanevenhoven, CRRP Managing Directort 414-908-9160 [email protected]

Prepared by:

Northgate Shopping Center

nmrk.com

757 N Broadway, Suite 700

Milwaukee, WI 53202

Northgate Shopping Center

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Transcript of Northgate Shopping Center