Section 1 · FINANCIAL ANALYSIS 12 SALE COMPARABLES 16 RENT COMPARABLES 22 ... Pest Control $1,195...
Transcript of Section 1 · FINANCIAL ANALYSIS 12 SALE COMPARABLES 16 RENT COMPARABLES 22 ... Pest Control $1,195...
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PROPERTY INFORMATION 3
LOCATION INFORMATION 7
FINANCIAL ANALYSIS 12
SALE COMPARABLES 16
RENT COMPARABLES 22
DEMOGRAPHICS 27
ContentsConfidentiality & Disclaimer
The information contained in the following Marketing Brochure is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichapand should not be made available to any other person or entity without the written consent ofMarcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in thesubject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes nowarranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of theproperty and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of theimprovements thereon, or the financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property. The informationcontained in this Marketing Brochure has been obtained from sources we believe to be reliable;however, Marcus & Millichap has not verified, and will not verify, any of the information containedherein, nor has Marcus & Millichap conducted any investigation regarding these matters andmakes no warranty or representation whatsoever regarding the accuracy or completeness of theinformation provided. All potential buyers must take appropriate measures to verify all of theinformation set forth herein.
Non-Endorsement Notice
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant orlessee identified in this marketing package. The presence of any corporation’s logo or name is notintended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporationof Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commerciallisting of Marcus & Millichap, and is solely included for the purpose of providing tenant lesseeinformation about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS
Brookview Center5634 State Highway 78, Sachse, TX 75048
TABLE OF CONTENTS
Section 1 PROPERTY INFORMATION
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Sale Price: $1,909,000
Building Size: 8,723 SF
Lot Size: 0.59 Acres
Price / SF: $218.85
Cap Rate: 6.75%
NOI: $128,849
Year Built: 1985
OFFERING SUMMARY
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
Total Households 4,709 25,431 86,986
Total Population 13,793 76,161 258,488
Average HH Income $97,374 $115,248 $100,136
PROPERTY OVERVIEW
Marcus & Millichap is pleased to offer the opportunity to acquire a fully stabilized, multi-tenant retail center in the rapidlygrowing Dallas suburb of Sachse, Texas.
Brookview Center5634 State Highway 78, Sachse, TX 75048
PROPERTY INFORMATION | EXECUTIVE SUMMARY
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PROPERTY DESCRIPTION
Marcus & Millichap is pleased to offer the opportunity to acquire a fully stabilized,
multi-tenant retail center in the rapidly growing Dallas suburb of Sachse, Texas. Brookview
Center is 100 percent occupied, and all leases are triple-net. Tenants are a complementary
mix of credit and local retailers, consisting of Cricket Wireless, Farmers Insurance, Sachse
Chiropractor, Dr. Charles Carter DDS, A Hair Tech, Donut Palace, Treasure Trade, and Pure
Massage. Constructed in 1985, the building is 8,723 square feet and sits on a .59-acre lot.
LOCATION DESCRIPTION
The subject property is located on State Highway 78, the major thoroughfare in the city.
Traffic counts exceeds 40,100 vehicles per day in front of the property. Retailers in the
immediate area include Discount Tire, Walgreens, Allsup’s Convenience Store, Sonic
Drive-In, Pizza Hut, Dollar General, Kroger grocery store, Whataburger, Wingstop,
McDonald’s, CVS, O’Reilly Auto Parts, and others.
Brookview Center is also less than two miles north of Firewheel Town Center, featuring over
125 retail stores and anchored by Dillard’s, Macy’s, AMC Theatres, Barnes & Noble, Dick’s
Sporting Goods, TGI Fridays, DSW and Pier 1 Imports. The property is well-situated in a
dense residential area, with a population exceeding 260,200 residents within a five-mile
radius. Additionally, the average household income is approximately $98,000 within one mile,
$114,900 within three miles and $100,136 within five miles.
Sachse is a northeastern suburb of Dallas, approximately one mile north of the President
George Bush Turnpike. The eastern expansion of the President George Bush Turnpike will
offer a multitude of opportunities for businesses and residents in Sachse. The newly
completed widening of Highway 78 through the city has also expanded the opportunity for
new businesses to make Sachse home.
Brookview Center5634 State Highway 78, Sachse, TX 75048
PROPERTY INFORMATION | PROPERTY DESCRIPTION
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BUILDING INFORMATION
Occupancy % 100.0%
Tenancy Multiple
Year Built 1985
Type Of Ownership Fee Simple
County Dallas
PROPERTY HIGHLIGHTS
• 8,723-Square Foot, Multi-Tenant Retail Center
• Fully Stabilized | 100% Occupied | 100% of the Leases are Triple-Net
• All Leases have a Personal Guaranty
• Complementary Mix of Service-Oriented, Internet-Resistant Tenants
• Recent Building Renovations Include a New Roof, Gutters and Front Fascia in 2016
• Highway Location on the City's Major Thoroughfare
• Traffic Counts Exceed 40,100 Vehicles per Day in Front of the Property
• Area Enjoys Excellent Demographics | More than 260,200 Residents Within Five Miles
• Highly Affluent Population with an Average Household Income of $98,000 Within a One-Mile Radius, $114,900 Within Three Miles and $99,700 Within Five Miles
• Less than Two Miles North of Firewheel Town Center | Anchored by Dillard's, Macy's,AMC Theatres, Barnes & Noble, and Dick's Sporting Goods and Featuring more than 125retail stores
Brookview Center5634 State Highway 78, Sachse, TX 75048
PROPERTY INFORMATION | COMPLETE HIGHLIGHTS
Section 2 LOCATION INFORMATION
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Brookview Center
Brookview Center5634 State Highway 78, Sachse, TX 75048
LOCATION INFORMATION | REGIONAL MAP
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Brookview Center5634 State Highway 78, Sachse, TX 75048
LOCATION INFORMATION | LOCATION MAPS
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Brookview Center5634 State Highway 78, Sachse, TX 75048
LOCATION INFORMATION | AERIAL MAPS
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Brookview Center5634 State Highway 78, Sachse, TX 75048
LOCATION INFORMATION | AERIAL MAPS
Section 3 FINANCIAL ANALYSIS
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INVESTMENT OVERVIEW CURRENT
Price $1,909,000
Price per SF $218.85
CAP Rate 6.75 %
Total Return (yr 1) $128,849
OPERATING DATA CURRENT
Gross Income $170,469
Operating Expenses $41,620
Net Operating Income $128,849
FINANCING DATA CURRENT
Down Payment $1,909,000
Loan Type All Cash
Brookview Center5634 State Highway 78, Sachse, TX 75048
FINANCIAL ANALYSIS | FINANCIAL SUMMARY
INCOME SUMMARY CURRENT PER SF
Base Rent $128,849 $14.77
Real Estate Taxes Reimbursements $20,104 $2.30
Insurance Reimbursements $8,445 $0.97
Common Area Maintenance Reimbursements $10,571 $1.21
Management Fee Reimbursements $2,500 $0.29
Gross Income $170,469 $19.54
EXPENSE SUMMARY CURRENT PER SF
Real Estate Taxes $20,104 $2.30
Insurance $8,445 $0.97
Utilities $1,152 $0.13
Lawn Service/Cleaning $1,675 $0.19
Pest Control $1,195 $0.14
Trash Service $2,824 $0.32
Repairs & Maintenance $2,747 $0.31
Other $978 $0.11
Management Fee $2,500 $0.29
Gross Expenses $41,620 $4.77
Net Operating Income $128,849 $14.77
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Brookview Center5634 State Highway 78, Sachse, TX 75048
FINANCIAL ANALYSIS | INCOME & EXPENSES
TENANT
NAME
PERSONAL
GTY
UNIT
SIZE (SF)
% OF
GLA
LEASE
START
LEASE
END
ANNUAL
RENT
ESC
DATE
PRICE
PER YEAR
LEASE
TYPE OPTION
EXPENSE
REIMBURSEMENT
Donut Palace Yes 900 10.32 9/16/85 9/15/24 $15,300 $17.00 NNN (4) 5-Yr @ Mkt $4,295.18
Pure Massage Yes 872 10.0 8/01/15 10/31/20 $12,208 $14.00 NNN (1) 3-Yr @ Mkt $4,162.00
Farmers Insurance Yes 989 11.34 8/01/16 10/31/19 $12,857 $13.00 NNN (1) 3-Yr @ Mkt $4,719.71
Treasure Trade Yes 1,319 15.12 9/01/15 10/31/22 $19,785
1/1/2020
1/1/2021
$15.00
$16.00
$17.00
NNN (1) 3-Yr @ Mkt $6,292.94
A Hair Tech Yes 840 9.63 4/01/17 3/31/22 $12,600
4/1/2020
$15.00
$16.00
NNN (1) 5-Yr @ Mkt $4,008.01
Cricket Wireless Yes 1,313 15.05 12/15/16 3/31/20 $17,069 $13.00 NNN (2) 3-Yr @ Mkt $6,263.81
Dr. Charles Carter DDS Yes 840 9.63 7/01/16 6/30/20 $14,280 $17.00 NNN (1) 1-Yr @ $17 $4,008.01
Sachse Chiropractor Yes 1,650 18.92 11/01/14 10/31/19 $24,750 $15.00 NNN (1) 5-Yr @ Mkt $7,870.34
Totals/Averages 8,723 $128,849 $14.77 $41,620.00
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Brookview Center5634 State Highway 78, Sachse, TX 75048
FINANCIAL ANALYSIS | RENT ROLL
Section 4 SALE COMPARABLES
SUBJECT PROPERTY
5634 State Highway 78 | Sachse, TX 75048
$1,909,000Sale Price: 0.59 ACLot Size:
1985Year Built: 8,723 SFBuilding SF:
$218.85Price PSF: 6.75%Cap:
$128,849NOI:
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THE PROMENADE ON CARRIER
1101 North Carrier Parkway | Grand Prairie, TX 75050
$1,025,000Sale Price: 1 ACLot Size:
1984Year Built: 7,385 SFBuilding SF:
$138.79Price PSF: 5.68%CAP:
06/28/2017Closed: 78%Occupancy:
MetroPCS, Subway, DFW Staffing, Tax Solutions
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1881 NORTH CENTRAL EXPRESSWAY
1881 North Central Expressway | Plano, TX 75075
$1,450,000Sale Price: 0.807 ACLot Size:
2007Year Built: 3,750 SFBuilding SF:
$386.67Price PSF: 6.17%CAP:
10/11/2018Closed: 100%Occupancy:
Shipley Donuts and Jersey Mikes
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Brookview Center5634 State Highway 78, Sachse, TX 75048
SALE COMPARABLES | SALE COMPS
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DOMINO'S PIZZA - DENTIST
3380 Long Prairie Road | Flower Mound, TX 75022
$1,875,000Sale Price: 0.97 ACLot Size:
2005Year Built: 3,380 SFBuilding SF:
$554.73Price PSF: 6.21%CAP:
01/11/2019Closed: 100%Occupancy:
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LUCAS VILLAGE
501 South Angel Parkway | Allen, TX 75002
$3,660,000Sale Price: 1.32 ACLot Size:
2018Year Built: 8,218 SFBuilding SF:
$445.36Price PSF: 6.34%CAP:
02/01/2019Closed: 100%Occupancy:
Hubler Dental, Oasis Nail Spa, Choy Dental
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HULEN CROSSING
8615 South Hulen Street | Fort Worth, TX 76123
$1,775,000Sale Price: 1.09 ACLot Size:
2006Year Built: 9,730 SFBuilding SF:
$182.43Price PSF: 6.58%CAP:
07/09/2018Closed: 84%Occupancy:
Hulen Crossing Family Dental, Little Caesar's, Nail Salon and Spa, Cleaner'sCorner
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Brookview Center5634 State Highway 78, Sachse, TX 75048
SALE COMPARABLES | SALE COMPS
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EDMONDS PLAZA EAST AND WEST
771 West Round Grove Road | Lewisville, TX 75067
$4,450,000Sale Price: 1.86 ACLot Size:
2014Year Built: 15,500 SFBuilding SF:
$287.10Price PSF: 6.59%CAP:
11/15/2018Closed: 100%Occupancy:
Park Dental, The Liquor Outpost, Victoria Nail Bar, Burgerim
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Brookview Center5634 State Highway 78, Sachse, TX 75048
SALE COMPARABLES | SALE COMPS
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP
Brookview Center
5634 State Highway 78
Sachse, TX 75048
$1,909,000 8,723 SF $218.85 6.75%
SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE
The Promenade on Carrier1101 North Carrier Parkway
Grand Prairie, TX 75050
$1,025,000 7,385 SF $138.79 5.68% 06/28/2017
1881 North Central Expressway1881 North Central Expressway
Plano, TX 75075
$1,450,000 3,750 SF $386.67 6.17% 10/11/2018
Domino's Pizza - Dentist3380 Long Prairie Road
Flower Mound, TX 75022
$1,875,000 3,380 SF $554.73 6.21% 01/11/2019
Lucas Village501 South Angel Parkway
Allen, TX 75002
$3,660,000 8,218 SF $445.36 6.34% 02/01/2019
Hulen Crossing8615 South Hulen Street
Fort Worth, TX 76123
$1,775,000 9,730 SF $182.43 6.58% 07/09/2018
Edmonds Plaza East and West771 West Round Grove Road
Lewisville, TX 75067
$4,450,000 15,500 SF $287.10 6.59% 11/15/2018
PRICE BLDG SF PRICE/SF CAP CLOSE
Totals/Averages $2,372,500 7,994 SF $296.79 6.26%
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Brookview Center5634 State Highway 78, Sachse, TX 75048
SALE COMPARABLES | SALE COMPS SUMMARY
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5634 State Highway 78 | Sachse, TX 75048SUBJECT PROPERTY
1 1101 North Carrier Parkway
Grand Prairie, TX 75050
THE PROMENADE ON CARRIER2
1881 North Central Expressway
Plano, TX 75075
1881 NORTH CENTRALEXPRESSWAY 3 3380 Long Prairie Road
Flower Mound, TX 75022
DOMINO'S PIZZA - DENTIST4 501 South Angel Parkway
Allen, TX 75002
LUCAS VILLAGE
5 8615 South Hulen Street
Fort Worth, TX 76123
HULEN CROSSING6 771 West Round Grove Road
Lewisville, TX 75067
EDMONDS PLAZA EAST AND WEST
Brookview Center5634 State Highway 78, Sachse, TX 75048
SALE COMPARABLES | SALE COMPS MAP
Section 5 RENT COMPARABLES
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SUBJECT PROPERTY
5634 State Highway 78 | Sachse, TX 75048
$14.77 SF/YRLease Rate: NNNLease Type:
0 SFSpace Size: 1985Year Built:
0.59 ACLot Size:
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SACHSE CENTER
5840-5848 State Highway 78 | Sachse, TX 75048
$15.00 SFLease Rate: NNNLease Type:
SFSpace Size: 1987Year Built:
9,000 SFBldg Size: 0.64 ACLot Size:
100%Occupancy:
The Dog Salon, Twin Nails, Burger Island, Atr Floors and Decor
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TRINITY CENTER
6406 State Highway 78 | Sachse, TX 75048
$16.00 SFLease Rate: NNNLease Type:
700 SFSpace Size: 2009Year Built:
5,500 SFBldg Size: 1.22 ACLot Size:
87%Occupancy:
Furniture Connection
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Brookview Center5634 State Highway 78, Sachse, TX 75048
RENT COMPARABLES | RENT COMPS
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SACHSE CROSSING
6504 Highway 78 | Sachse, TX 75048
$17.00 SFLease Rate: NNNLease Type:
1,190 SFSpace Size: 2002Year Built:
10,500 SFBldg Size: 0.97 ACLot Size:
89%Occupancy:
Hot Shots Liquor, Edward Jones, Allstate Insurance, Sachse Ice House
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SACHSE PLAZA
7340 State Highway 78 | Sachse, TX 75048
$18.00 SFLease Rate: NNNLease Type:
0 SFSpace Size: 2006Year Built:
34,750 SFBldg Size: 4.23 ACLot Size:
100%Occupancy:
Panda Chef, Fit 24 X, Star Cutters, The Brick Tavern, No. 1 Foot Spa
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OAK GROVE PLAZA I
5250 State Highway 78 | Sachse, TX 75048
$19.00 SFLease Rate: NNNLease Type:
4,757 SFSpace Size: 2004Year Built:
34,817 SFBldg Size: 3.94 ACLot Size:
86%Occupancy:
Subway, Colonial Savings, Martial Arts, Mogio's Pizza, Wingstop, Emler Swim School
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Brookview Center5634 State Highway 78, Sachse, TX 75048
RENT COMPARABLES | RENT COMPS
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SUBJECT PROPERTY PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Brookview Center
5634 State Highway 78
Sachse, TX 75048
$14.77 SF/yr (NNN) 0 SF 8,723 SF 100.0%
RENT COMPS PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Sachse Center5840-5848 State Highway 78
Sachse, TX 75048
$15.00 - 9,000 SF 100%
Trinity Center6406 State Highway 78
Sachse, TX 75048
$16.00 700 SF 5,500 SF 87%
Sachse Crossing6504 Highway 78
Sachse, TX 75048
$17.00 1,190 SF 10,500 SF 89%
Sachse Plaza7340 State Highway 78
Sachse, TX 75048
$18.00 0 SF 34,750 SF 100%
Oak Grove Plaza I5250 State Highway 78
Sachse, TX 75048
$19.00 4,757 SF 34,817 SF 86%
PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Totals/Averages $17.00 2,216 SF 18,913 SF 92.4%
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Brookview Center5634 State Highway 78, Sachse, TX 75048
RENT COMPARABLES | RENT COMPS SUMMARY
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1 5840-5848 State Highway 78Sachse, TX 75048
SACHSE CENTER2 6406 State Highway 78
Sachse, TX 75048
TRINITY CENTER3 6504 Highway 78
Sachse, TX 75048
SACHSE CROSSING4 7340 State Highway 78
Sachse, TX 75048
SACHSE PLAZA
5 5250 State Highway 78Sachse, TX 75048
OAK GROVE PLAZA I
5634 State Highway 78 | Sachse, TX 75048SUBJECT PROPERTY
Brookview Center5634 State Highway 78, Sachse, TX 75048
RENT COMPARABLES | RENT COMPS MAP
Section 6 DEMOGRAPHICS
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Brookview Center5634 State Highway 78, Sachse, TX 75048
DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT
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POPULATION 1 MILE 3 MILES 5 MILES
Total Population 13,793 76,161 258,488
Median age 38.0 35.5 34.3
Median age (Male) 37.1 35.1 33.8
Median age (Female) 39.0 36.1 34.7
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 4,709 25,431 86,986
# of persons per HH 3.1 3.1 3.1
Average HH income $97,374 $115,248 $100,136
Average house value $241,109 $223,626 $199,549
RACE 1 MILE 2 MILES 3 MILES
Total Population - White 9,634 47,998 168,662
% White 69.8% 63.0% 65.2%
Total Population - Black 1,381 8,349 34,917
% Black 10.0% 11.0% 13.5%
Total Population - Asian 2,324 17,189 45,696
% Asian 16.8% 22.6% 17.7%
Total Population - Hawaiian 7 55 219
% Hawaiian 0.1% 0.1% 0.1%
Total Population - American Indian 148 645 2,325
% American Indian 1.1% 0.8% 0.9%
Total Population - Other 299 1,926 6,668
% Other 2.2% 2.5% 2.6%
* Demographic data derived from 2010 US Census
Brookview Center5634 State Highway 78, Sachse, TX 75048
DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT
INFORMATION ABOUT BROKERAGE SERVICES Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, 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 information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction 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 written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information 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 written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
• Must treat all parties to the transaction impartially and fairly; • May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to,
and carry out the instructions of each party to the transaction. • Must not, unless specifically authorized in writing to do so by the party, disclose:
that the owner will accept a price less than the written asking price; that the buyer/tenant will pay a price greater than the price submitted in a written offer; and any confidential information or any other information that a party specifically instructs the broker in writing 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 transaction 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 first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation 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 notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
Information available at www.trec.texas.gov Regulated by the Texas Real Estate Commission IABS 1-0
11-2-2015
Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate License No. Email Phone
Sales Agent/Associate’s Name License No. Email Phone
Buyer/Tenant/Seller/Landlord Initials Date