TITLEMAX 1216 SPENCER HWY, SOUTH HOUSTON, TX 77587€¦ · South Houston, TX 77587 CORPORATE...

T ITLEMAX

1216 SPENCER HWY, SOUTH HOUSTON, TX 77587

RETAIL PROPERTY FOR SALE

ETHAN OFFENBECHERSENIOR INVESTMENT [email protected]

For more information:

PROPERTY INFORMATION

3LOCATION INFORMATION

6FINANCIAL ANALYSIS

11DEMOGRAPHICS

15ADVISOR BIOS

17

T ITLEMAX1 2 1 6 S P E N C E R H W Y , S O U T H H O U S T O N , T X 7 7 5 8 7

RETAIL PROPERTY FOR SALE T A B L E O F C O N T E N T S

TREK INVESTMENT GROUP11610 BEE CAVES ROAD, SUITE 230AUSTIN, TX 78738512.433 .6999WWW.BUILDOUT.COM P A G E 2



Confidentiality & Disclaimer ContentsAll materials and information received or derived from TREK Investment Group, LLC itsdirectors, officers, agents, advisors, affiliates and/or any third party sources areprovided without representation or warranty as to completeness , veracity, or accuracy,condition of the property, compliance or lack of compliance with applicablegovernmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended useor any and all other matters.

Neither TREK Investment Group, LLC its directors, officers, agents, advisors, or affiliatesmakes any representation or warranty, express or implied, as to accuracy orcompleteness of the any materials or information provided, derived, or received.Materials and information from any source, whether written or verbal, that may befurnished for review are not a substitute for a party’s active conduct of its own duediligence to determine these and other matters of significance to such party. TREKInvestment Group, LLC will not investigate or verify any such matters or conduct duediligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUEDILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged toverify all information and to conduct their own inspections and investigations includingthrough appropriate third party independent professionals selected by such party. Allfinancial data should be verified by the party including by obtaining and readingapplicable documents and reports and consulting appropriate independentprofessionals. TREK Investment Group, LLC makes no warranties and/orrepresentations regarding the veracity, completeness, or relevance of any financialdata or assumptions. TREK Investment Group, LLC does not serve as a financial advisorto any party regarding any proposed transaction. All data and assumptions regardingfinancial performance, including that used for financial modeling purposes, may differfrom actual data or performance. Any estimates of market rents and/or projectedrents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicablecontractual and governmental limitations as well as market conditions,vacancy factorsand other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questionsshould be discussed by the party with a certified public accountant or tax attorney.Title questions should be discussed by the party with a title officer or attorney.Questions regarding the condition of the property and whether the property complieswith applicable governmental requirements should be discussed by the party withappropriate engineers, architects, contractors, other consultants and governmentalagencies. All properties and services are marketed by TREK Investment Group, LLC incompliance with all applicable fair housing and equal opportunity laws.

PROPERTY INFORMATION




PROPERTY HIGHLIGHTS- NNN Lease with Corporate Guaranty from TMX Finance, LLC

- TitleMax has over 1,150 locations in 17 states

- Signalized hard corner with excellent visibility and access

- Traffic Counts of over 39,000 cars per day

- Dense infill location with 162,000 population within 3 miles

- 15 minutes from Hobby Airport, a Southwest Airline Hub

- 15 minutes from Port of Houston, one of the busiest ports in the world

- 25 minutes from downtown Houston

- Approximately 7 years remaining on initial term

- Rental increase in 2020

•

PROPERTY SUMMARY

Sale Price: $1,100,000

Cap Rate: 7.85%

Lot Size: 0.37 Acres

Building Size: 1,413 SF

Renovated: 2012


RETAIL PROPERTY FOR SALE E X E C U T I V E S U M M A R Y




PROPERTY NAME: TitleMax

PROPERTY ADDRESS: 1216 Spencer HwySouth Houston, TX 77587

CORPORATE GUARANTOR: TMX Finance, LLC

LEASE STRUCTURE: NNN

TYPE OF OWNERSHIP: Fee Simple

YEAR BUILT: Remodeled in 2012

BUILDING SIZE (SQ. FT.): 1,413

LOT SIZE (ACRES): .37

FINANCING: Delivered Free and Clear

OCCUPANCY: 100%

SALES PRICE: 1,100,000

CAP RATE: 7.85%

NOI: $86,400


RETAIL PROPERTY FOR SALE P R O P E R T Y D E T A I L S

LOCATION INFORMATION


RETAIL PROPERTY FOR SALE R E T A I L E R M A P







1216 Spencer Hwy


RETAIL PROPERTY FOR SALE R E G I O N A L M A P





RETAIL PROPERTY FOR SALE L O C A T I O N M A P S


RETAIL PROPERTY FOR SALE A E R I A L M A P

TREK INVESTMENT GROUP11610 BEE CAVES ROAD, SUITE 230AUSTIN, TX 78738512.433 .6999WWW.BUILDOUT.COM P A G E 1 0



FINANCIAL ANALYSIS


LEASE SUMMARY




TENANTNAME DATES MONTHLY RENT

LEASETYPE GLA

LEASESTART

LEASEEND

ANNUALRENT

% OFGLA

PRICEPER SF/YR

TitleMax of Texas, Inc. 12/25/12 - 01/31/16

*02/01/2016 - 01/31/20

02/01/20 - 01/31/23

$6,900

$7,200

$7,500

NNN 1,413 12/25/12 1/31/23 $82,800

$86,400

$90,000

100.0 $58.60

$61.15

$63.69

Totals/Averages 1,413 $86,400 $61.15


RETAIL PROPERTY FOR SALE T E N A N T P R O F I L E S




TMX FINANCE

TMX Finance, LLC is the guarantor of all lease terms for the duration of the lease.

Tenant is responsible for all care, maintenance and/or replacement of demised premisesincluding roof, structure, parking lot, utilities, and property insurance. Landlord isresponsible for paying taxes and landlord liability insurance with full reimbursement byTenant.

Tenant has the conditional right to terminate only if governmental laws/restrictions areenacted that have a negative material impact on tenant’s business such that tenant shallclose (i) all of its stores in South Houston, TX and (ii) more than the majority of all storesthen open in the city of Houston, TX.


TENANT / GUARANTOR ABSTRACT




TitleMax

TMX Finance

TitleMax is one of the nation’s largest and most reputable title lending companies.TitleMax was built on the idea of offering an alternative way for customers who, forwhatever reason, could not qualify for traditional loans or did not have the time towait for weeks of approval deliberation. TitleMax strives to offer rates that are muchlower than the industry standard, while providing a superior level of customerservice. Since its inception in 1998, TitleMax has expanded to over 1,150 storesspanning 17 states. TitleMax strives to offer some of the lowest interest rates on titleloans in the industry, while providing a superior level of customer service. They offera number of different products to fit all types of lifestyles and budgets, including cartitle loans, car title pawns, motorcycle title pawns, signature loans, andpersonal loans.

TMX Finance is the parent company to the brands TitleMaxTitleBucks, and InstaLoan. The Company holds more than1,400 stores in seventeen states including Alabama, Arizona,California, Florida, Georgia, Illinois, Mississippi, Missouri, Nevada, New Mexico, SouthCarolina, Tennessee, Texas, and Virginia. TMX Finance’s brands serve individualswho generally have limited access to consumer credit from banks, thriftinstitutions, credit card lender and other traditional sources of consumercredit. TMX Finance offers a title loan product which allows customers tomeet their liquidity needs by borrowing against the value of theirvehicles while retaining use of their vehicle during the term of the loan.

DEMOGRAPHICS


RETAIL PROPERTY FOR SALE D E M O G R A P H I C S M A P




* Demographic data derived from 2010 US Census

1 Mile 2 Miles 3 Miles

Total Population 17,886 74,104 152,298

Population Density 5,693 5,897 5,386

Median Age 29.1 29.0 29.4

Median Age (Male) 29.4 28.6 28.9

Median Age (Female) 28.4 29.5 30.1

Total Households 5,407 22,678 47,979

# of Persons Per HH 3.3 3.3 3.2

Average HH Income $48,709 $47,670 $47,208

Average House Value $97,900 $100,983 $100,051

ADVISOR BIOS


RETAIL PROPERTY FOR SALE A D V I S O R B I O & C O N T A C T 1




11610 Bee Caves RoadAustin, TX 78738

T 512.433.6999

C 832.544.4460

[email protected] #642658

Senior Investment AdvisorETHAN OFFENBECHER Professional Background

BACKGROUND

Ethan Offenbecher, CCIM specializes in commercial sales and leasing. He has completed commercial real estate transactions in excess of$250,000,000 during his 15 year career. He is a tirelessworker and is constantly seeking innovative ways to assist clients in achieving their investment goals. Ethan has consistently been a TopProducer, named in the top 2% of Commercial agents for Coldwell Banker Commercial.

PRIMARY SPECIALTY

NNN Leased retail specialist focused in Houston and Austin, TX. Recent closings include: Ashley Furniture, Jack in the Box, HastingsEntertainment, Sprint, Mattress Firm, and Logans Roadhouse, and McCalisters.

AWARDS & ACOMPLISHMENTS

• Founded and operated boutique brokerage focused on NNN investments and medical office buildings• Successfully leased, managed and sold over $350M in transactions• Coldwell Banker Commercial Gold Circle of Distinction-2014, 2010, 2008• Top 2% of all Coldwell Banker Commercial – 2008, 2010 and 2014• Coldwell Banker Commercial Number One Sales Professional - 2008• Business Examiner 40 under 40 Winner- 2005

Memberships & Affiliations

CCIM - Certified Commercial Investment MemberICSC - International Council of Shopping CentersRECA - Real Estate Council of AustinNAR - National Association of Realtors

Education

CCIMWashington State UniversitySeattle University, BA Business Administration

TITLEMAX 1216 SPENCER HWY, SOUTH HOUSTON, TX 77587€¦ · South Houston, TX 77587 CORPORATE...

Documents

Transcript of TITLEMAX 1216 SPENCER HWY, SOUTH HOUSTON, TX 77587€¦ · South Houston, TX 77587 CORPORATE...