Download - Billingsley Promenade...Option 1 Five Years 01-Jul-23 01-Jul-27 01-Jul-23 $1,998.29 $1.52 $23,979.51 $18.24 01-Jul-24 $2,098.21 $1.60 $25,178.48 $19.15 01-Jul-25 $2,203.12 $1.68 $26,437.41

Billingsley Promenade

3441 Malcolm Dr., Montgomery, AL 36116


THE INFORMATION ABOVE HAS BEEN OBTAINED FROM A SOURCE WE BELIEVE TO BE RELIABLE, HOWEVER, WE ACCEPT NO RESPONSIBILITY FOR ITS ACCURACY.

CASSANDRA CHANDLER (205) 531 – 5208 - 2 - CASEY R. THOMAS (205) 602 - 1927


Contents

Table of Content Property Details Page 3 Major Tenant Information Page 4 Rent Roll Page 5 - 6 Income Statement Page 7 Demographics Page 8 Geographic Location Page 9 Property Photos Page 10 - 18





Property Details

* Year Built – 2008 * Ample Parking Price: $4,000,000

* Solid Tenants Property Type: Retail

* Lot - 2.07+/- AC Property Sub-type: Storefront Retail/Office

* GLA - 18,720 Building Class: A

Sale Type: Investment Price: $4,000,000 Lot Size: 2.07 AC Gross Leasable Area: 18,720 SF View the full listing here: https://www.loopnet.com/Listing/3441-Malcolm-Dr-Montgomery-AL/15104099/ Sale Conditions: Existing No. Stories: 1 Year Built: 2008 Tenancy: Multiple Parking Ratio: 6.36/1,000 SF Zoning Description: PUD APN / Parcel ID: 09-09-29-3-000-001.004 Cross Streets: Vaughn Rd

https://www.loopnet.com/Listing/3441-Malcolm-Dr-Montgomery-AL/15104099/





Major Tenant Information

Tenant SF Occupied Lease Expired Five Year Option Tipico De Mexico 4,017 December 2019 August 2024

Anne Docarmo Taekwondo Center, LLC

2,691 September 2021 October 2026

Chin Chin Chinese & Sushi Restaurant

2,808 February 2022 March 2026

Mathnasium, LLC 1,950 August 2024 September 2028

Rosie's Nails 1,248 October 2019 July 2024

Pearl Massage 1,315 June 2022 July 2027

Mission Fitness 3,443 August 2018 September 2024





Rent Roll

Market LL

Suite # Tenant Name Sq. Ft. % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type PSF / Yr T. I. s Admin.

101 & 102 4,017 20.68% 01-Aug-07 31-Dec-19 Current $6,250.00 $1.56 $75,000.00 $18.67 NNN $0.00

Option 1 Five Years 01-Jan-19 01-Jan-23 01-Jan-19 $6,562.50 $1.63 $78,750.00 $19.60

01-Jan-20 $6,890.63 $1.72 $82,687.50 $20.58

01-Jan-21 $7,235.16 $1.80 $86,821.88 $21.61

01-Jan-22 $7,596.91 $1.89 $91,162.97 $22.69

01-Jan-23 $7,976.76 $1.99 $95,721.12 $23.83

103 2,691 13.86% 01-Oct-16 30-Sep-21 Current $3,300.00 $1.23 $39,600.00 $14.72 Gross $0.00

01-Oct-20 $3,465.00 $1.29 $41,580.00 $15.45

01-Oct-21 $3,638.25 $1.35 $43,659.00 $16.22

Option 1 Five Years 01-Oct-22 01-Oct-26 01-Oct-22 $3,820.16 $1.42 $45,841.95 $17.04

01-Oct-23 $4,011.17 $1.49 $48,134.05 $17.89

01-Oct-24 $4,211.73 $1.57 $50,540.75 $18.78

01-Oct-25 $4,422.32 $1.64 $53,067.79 $19.72

01-Oct-26 $4,643.43 $1.73 $55,721.18 $20.71

104 & 105 2,808 14.46% 01-Mar-12 28-Feb-22 Current $3,744.00 $1.33 $44,928.00 $16.00 NNN $0.00

01-Mar-20 $3,931.20 $1.40 $47,174.40 $16.80

01-Mar-21 $4,127.76 $1.47 $49,533.12 $17.64

Option 1 Five Years 01-Mar-22 01-Mar-26 01-Mar-22 $4,334.15 $1.54 $52,009.78 $18.52

01-Mar-23 $4,550.86 $1.62 $54,610.26 $19.45

01-Mar-24 $4,778.40 $1.70 $57,340.78 $20.42

01-Mar-25 $5,017.32 $1.79 $60,207.82 $21.44

01-Mar-26 $5,268.18 $1.88 $63,218.21 $22.51

106 & 108 1,950 10.04% 06-Sep-17 31-Aug-24 Current $2,925.00 $1.50 $35,100.00 $18.00 NNN $0.00

01-Sep-20 $3,071.25 $1.58 $36,855.00 $18.90

01-Sep-21 $3,224.81 $1.65 $38,697.75 $19.85

01-Sep-22 $3,386.05 $1.74 $40,632.64 $20.84

01-Sep-23 $3,555.36 $1.82 $42,664.27 $21.88

Option 1 Five Years 01-Sep-24 01-Sep-28 01-Sep-24 $3,733.12 $1.91 $44,797.48 $22.97

01-Sep-25 $3,919.78 $2.01 $47,037.36 $24.12

01-Sep-26 $4,115.77 $2.11 $49,389.22 $25.33

01-Sep-27 $4,321.56 $2.22 $51,858.69 $26.59

01-Sep-28 $4,537.64 $2.33 $54,451.62 $27.92

Chin Chin Chinese &

Sushi Restaurant

Anne Docarmo

Taekwondo Center, LLC

Mathnasium, LLC

Tipico de Mexico None

Rental RatesLease Terms

Responsibilites





Rent Roll

Market LL

Suite # Tenant Name Sq. Ft. % of Bldg Start End Begin Monthly PSF Annually PSF Lease Type PSF / Yr T. I. s Admin.

107 1,248 6.43% 29-Jul-09 31-Oct-19 Current $2,000.00 $1.60 $24,000.00 $19.23 NNN $0.00

Option 1 Five Years 01-Nov-20 01-Nov-24 01-Nov-20 $2,100.00 $1.68 $25,200.00 $20.19

01-Nov-21 $2,205.00 $1.77 $26,460.00 $21.20

01-Nov-22 $2,315.25 $1.86 $27,783.00 $22.26

01-Nov-23 $2,431.01 $1.95 $29,172.15 $23.38

01-Nov-24 $2,552.56 $2.05 $30,630.76 $24.54

109 1,315 6.77% 01-Jul-17 30-Jun-22 Current $1,644.00 $1.25 $19,728.00 $15.00 NNN $0.00

01-Jul-20 $1,726.20 $1.31 $20,714.40 $15.75

01-Jul-21 $1,812.51 $1.38 $21,750.12 $16.54

01-Jul-22 $1,903.14 $1.45 $22,837.63 $17.37

Option 1 Five Years 01-Jul-23 01-Jul-27 01-Jul-23 $1,998.29 $1.52 $23,979.51 $18.24

01-Jul-24 $2,098.21 $1.60 $25,178.48 $19.15

01-Jul-25 $2,203.12 $1.68 $26,437.41 $20.10

01-Jul-26 $2,313.27 $1.76 $27,759.28 $21.11

01-Jul-27 $2,428.94 $1.85 $29,147.24 $22.17

110 & 111 3,433 17.73% 01-Sep-13 31-Aug-18 Current $4,734.00 $1.38 $56,808.00 $16.55 NNN $0.00


01-Sep-21 $5,219.24 $1.52 $62,630.82 $18.24

01-Sep-22 $5,480.20 $1.60 $65,762.36 $19.16

01-Sep-23 $5,754.21 $1.68 $69,050.48 $20.11

01-Sep-24 $6,041.92 $1.76 $72,503.00 $21.12

112 1,960 10.09% -------------- -------------- Current $2,650.00 $1.35 $31,800.00 $16.22 NNN $0.00


01-Sep-21 $2,921.63 $1.49 $35,059.50 $17.89

01-Sep-22 $3,067.71 $1.57 $36,812.48 $18.78

01-Sep-23 $3,221.09 $1.64 $38,653.10 $19.72

01-Sep-24 $3,382.15 $1.73 $40,585.75 $20.71

Mission Fitness

Lease Terms

Pearl Massage

Rosie's Nails

Rental Rates

Responsibilites

Vacant





Income Statement

Net Income StatementSales Price $3,500,000.00

Sq. Ft. 19,422 Current 2020 2021 2022 2023 2024

Revenues$326,964.00 $343,312.20 $360,477.81 $378,501.70 $397,426.79 $417,298.12

$31,800.00 $31,800.00 $31,800.00 $31,800.00 $31,800.00 $31,800.00

$49,044.60 $49,535.05 $50,030.40 $50,530.70 $51,036.01 $51,546.37

$376,008.60 $392,847.25 $410,508.21 $429,032.40 $448,462.79 $468,844.49

$21,715.00 $21,715.00 $21,715.00 $21,715.00 $21,715.00 $21,715.00

$4,756.00 $4,756.00 $4,756.00 $4,756.00 $4,756.00 $4,756.00

$10,597.00 $10,597.00 $10,597.00 $10,597.00 $10,597.00 $10,597.00

$880.00 $880.00 $880.00 $880.00 $880.00 $880.00

$9,000.00 $9,000.00 $9,000.00 $9,000.00 $9,000.00 $9,000.00

$4,246.00 $4,246.00 $4,246.00 $4,246.00 $4,246.00 $4,246.00

$2,778.00 $2,778.00 $2,778.00 $2,778.00 $2,778.00 $2,778.00

$53,972.00 $53,972.00 $53,972.00 $53,972.00 $53,972.00 $53,972.00

$322,036.60 $338,875.25 $356,536.21 $375,060.40 $394,490.79 $414,872.49

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00

NET CASH FLOW AFTER DEBT SERVICE $322,036.60 $338,875.25 $356,536.21 $375,060.40 $394,490.79 $414,872.49

Cap Rate 9.20% 9.68% 10.19% 10.72% 11.27% 11.85%

Expense Per Sq. Ft. $2.78 $2.78 $2.78 $2.78 $2.78 $2.78

% of EGR 14.35% 13.74% 13.15% 12.58% 12.03% 11.51%

3441 Malcolm Drive,

Montgomery, AL 36116

The information above has been obtained from a source we believe to be reliable, however, we accept no responsibility for

its accuracy.


TOTAL EXPENSES

Debt Service

Utilities

NET OPERATING INCOME

Projected Proforma

Insurance

Repairs

Management Fee

Outdoor Maintenance

Waste Disposal

Effective Gross Income

Operating ExpensesReal Estate Taxes

Gross Potential Rent

Common Area Maintenance

Less Current Vacancy





Demographics

POPULATION

Total Population 43,790

Population Density 781 people per sq. mi.

Housing Units 18,771

Median Home Value $110,200

Occupied Housing Units 16,689

Median Household Income $42,861

RACE

White 7,788 17.8%

Black or African American 32,662 74.6%

American Indian or Alaskan Native 109 0.2%

Asian 1,080 2.5%

Native Hawaiian & Other Pacific Islander 65 0.1%

Other Race 1,582 3.6%

Two or More Races 504 1.2%

HOUSING TYPE

Average Household Size: 3

Households without Kids 9,731 58%

Households with Kids 6,958 42%

EMPLOYMENT STATUS

Worked Full-time with Earnings 14,520 43%

Worked Part-time with Earnings 8,414 25%

No Earnings 10,770 32%





Geographic Location





Property Photos