Lowe's Strip Center - Roeland Park, KS

LOWE’S STRIP CENTER ROELAND PARK, KS LISTED IN CONJUNCTION WITH KANSAS BROKER OF RECORD DZ NET LEASE REALTY, LLC (DAVID B ZACHARIA LICENSE BR00047228)

PRICING & FINANCIAL ANALYSIS

LOWE’S STRIP CENTER

FINANCIAL ANALYSIS

Lowe’s Strip Center 4990-4996 Roe Boulevard Roeland Park, KS 66205

Offering Summary Price Cap Rate Net Operating Income Price PSF

$2,905,000 7.25% $210,477 $298.87 100%

Year Built

2006

Gross Leasable Area Lot Size

PROPERTY DESCRIPTION

Occupancy

9,720 SF 0.83 Acres

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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PRICING & FINANCIAL ANALYSIS

Base Rent - Occupied Space

100%

Base Rent - Vacant Space GROSS POTENTAL RENT

Current

PSF

Expenses

$227,610

$23.17

Real Estate Taxes

$0.00

$0.00

Insurance

$227,610

$23.17

Exp. Reimb.

Current

PSF

$52,234

$5.68

$1,668

$0.25

Parking Lot Repairs

$2,617

$0.27

CAM

$5.37

Landscaping

$1,353

$0.14

Insurance

$1,668

$0.17

Pressure Washing

$1,399

$0.14

CAM

$31,836

$3.28

Sweeping

$336

$0.03

Mgmt. Fee

$10,928

$1.12

Walkway Maint./Repairs

$163

$0.02

Total Exp. Reimb.

$96,665

$9.95

Snow Removal

$726

$0.07

$324,276

$33.12

Misc. Grounds Maint.

$357

$0.04

($9,728)

($1.66)

Roof R&M

$2,357

$0.24

$314,547

$31.46

Bldg. Repairs

$326

$0.03

Electrical Maint. & Repairs

$347

$0.04

$577

$0.06

GROSS POTENTIAL INCOME Vacancy Factor

3.00%

EFFECTIVE GROSS INCOME Expenses

($55,241)

($5.68)

Fire Protection

Insurance

($2,472)

($0.25)

Electricity

$6,556

$0.67

($33,386)

($3.43)

Water & Sewer

$13,397

$1.38

($12,971)

($1.32)

Trash Disposal

$2,596

$0.27

($104,070)

($10.70)

Painting

$65

$0.01

Plumbing Repairs

$213

$0.02

$33,386

$3.43

($12,971)

$1.32

$104,070

$10.70

CAM Mgmt. Fee (% of GPI) Total Expenses

NET OPERATING INCOME

4.00%

$210,477

Total CAM Management Fee (% of GPI)

TOTAL EXPENSES

4.00%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

MARKET OVERVIEW

Real Estate Taxes

PROPERTY DESCRIPTION

$52,234

Real Estate Taxes

FINANCIAL ANALYSIS

Income & Expenses

LOWE’S STRIP CENTER

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RENT ROLL

LOWE’S STRIP CENTER

Tenant

Sq Ft

% of Sq Ft

Start

End

Annual Rent

PSF

Escalation Date

4990

Cici's Pizza

4,460

45.9%

6/1/2006

8/31/2027

$84,740

$19.00

9/1/2020

$19.50

-

NNN

4992

Tips & Toes

1,355

13.9%

9/12/2006

10/31/2021

$32,100

$23.69

11/1/2021

FMV

1x5

NNN

4994

Liberty Tax Service

1,243

12.8%

11/20/2006

4/30/2019

$30,329

$24.40

5/1/2019

FMV

1x3

NNN

4996

Checksmart

2,662

27.4%

9/18/2006

8/31/2021

$79,514

$29.87

9/1/2018

$30.25

1x3

NNN

Occupied

9,720

100.0%

0

0.0%

9,720

100.0%

Vacant

Lease Type

$226,683

PROPERTY DESCRIPTION

Total

Escalation Options Amount

FINANCIAL ANALYSIS

Suite

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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TENANT INFORMATION

LOWE’S STRIP CENTER

FINANCIAL ANALYSIS

Tenant Overview Tenant Cicis (formerly titled CiCi’s Pizza) is an American buffet restaurant chain based in Coppell, Texas, specializing in pizza. There are approximately 500 franchised and corporately owned restaurants in 35 states. In November 2015, the company began a new marketing campaign which included the renaming of the company to Cicis, along with the addition of a new logo and redesigned website. The campaign is aimed at proving that Cicis has more to offer than just pizza.

Ownership Years In Business Number of Locations

Cicis Private 31 Years 500+

Headquarters

Coppell, Texas

Website

www.cicis.com

PROPERTY DESCRIPTION

Tenant Overview Liberty Tax Service is a United States-based company specializing in the preparation of tax returns for individuals and small businesses, it is the third largest tax preparation franchise in the United States. The company began in Canada in 1997 when John Hewitt, co-founder of Jackson Hewitt, acquired a Canadian tax franchisor, U&R Tax Depot. In 1998, the company became Liberty Tax Service and opened 5 offices in the United States. Liberty Tax Service is the primary subsidiary of Liberty Tax, Inc., a NASDAQ-traded company.

Tenant Ownership Years In Business Number of Locations Headquarters Website

Liberty Tax Service, Inc. Public (NASDAQ: TAX) 19 Years 4,000+ Virginia Beach, VA www.libertytax.com

MARKET OVERVIEW

Tenant Overview Community Choice Financial Inc., offers short-term and medium-term consumer loans, credit service fees, check cashing, prepaid debit cards, money transfers, bill payments, money orders, international and domestic prepaid phone cards, tax preparation, auto insurance, motor vehicle registration services, and other ancillary retail financial services. As of 2016, it operated in 15 states under the CheckSmart, Buckeye CheckSmart, California Check Cashing Stores, as well as had Internet presence in 30 states.

Tenant

Community Choice Financial Inc.

Ownership

Private

Years In Business

5 Years

Number of Locations Headquarters Website

525+ Dublin, OH www.ccfi.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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INVESTMENT HIGHLIGHTS

LOWE’S STRIP CENTER

FINANCIAL ANALYSIS

• Outparcel to Lowe’s Home Improvement and Price Chopper Grocery Store

• Located Adjacent to Walmart Supercenter and Aldi Grocery Store

• 100% Occupied NNN Leased Strip Center with Staggered Lease Turnover

New PROPERTY DESCRIPTION

• Beautifully Designed and Relatively Constructed Building - Built in 2006

• Ease of Management 4 Tenant Strip in a Prime Location

• Situated in Prestigious Northeast Kansas, 15 Minutes from Kansas City

• Over 256,000 Potential Customers in a 5-Mile Radius MARKET OVERVIEW

• Average Household Income within a 3-Mile Radius is Above the National Average

• Surrounding Retailers Include Lowe’s, Walmart, Price Chopper, Aldi, CVS Pharmacy, Walgreens, McDonald’s and Many Other National Retailers This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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AERIAL MAP

LOWE’S STRIP CENTER

FINANCIAL ANALYSIS

E 35

AT RST

E

RO

PROPERTY DESCRIPTION

E

INT

VD

BL

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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LOCAL MAP

LOWE’S STRIP CENTER

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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REGIONAL MAP

LOWE’S STRIP CENTER

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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MARKET SUMMARY

LOWE’S STRIP CENTER

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

KANSAS CITY, MO Kansas City is the largest city in the U.S. state of Missouri and the sixth largest city in the Midwest. According to the U.S. Census Bureau, the city had an estimated population of 475,378 in 2015, making it the 36th largest city by population in the United States. It is the anchor city of the Kansas City metropolitan area, which straddles the Kansas–Missouri border.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

MARKET OVERVIEW

The federal government is the largest employer in the Kansas City metro area. More than 146 federal agencies maintain a presence there.

Kansas City is one of ten regional office cities for the US government. The Internal Revenue Service maintains a large service center in Kansas City. The IRS has approximately 2,700 full-time employees in Kansas City, growing to 4,000 during tax season. The General Services Administration has more than 800 employees.

Honeywell employs nearly 2,700 at the Kansas City Plant, which produces and assembles 85%

of the non-nuclear components of the United States nuclear bomb arsenal. The Social Security Administration has more than 1,700 employees in the Kansas City area, with more than 1,200 located at its downtown Mid-America Program Service Center (MAMPSC). Ford Motor Company operates a large manufacturing facility in Claycomo at the Ford Kansas City Assembly Plant, which currently builds the Ford F-150. One of the largest US drug manufacturing plants is the Sanofi-Aventis plant located in south Kansas City. Numerous agriculture companies operate out of the city.Other notale companies currently headquartered in Kansas City include: Saint Luke’s Health System , Sprint Corporation , AMC Theaters, Applebee’s, Hallmark Cards, H&R Block, Hostess Brands, and J.E. Dunn Construction Group.

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DEMOGRAPHIC SUMMARY

LOWE’S STRIP CENTER

Geography: 5 miles

FINANCIAL ANALYSIS

Population In the identified area, the current year population is 256,844 The rate of change since 2010 was 3.6%. The five-year projection for the population in the area is 266,802 representing a change of 3.9% from 2016 to 2021. Currently, the population is 49.2% male and 50.8% female. The median age in this area is 36.1 compared to the U.S. median agoe of 38.0.

Households There are currently 113,153 households in your selected georgraphy. The number of households has changed by 3.7% since 2010. It is estimated that the number of households in your area will be 117,441 five years from now, which represents a change of 3.5% from the current year. The average household size in your area is 2.23 persons.

Income PROPERTY DESCRIPTION

In 2016, the median household income for your selected georgraphy is $50,794 compare this to the Entire U.S. average, which is currently $54,149. It is estimated that the median household income in your area will be $55,027 five years from now, which represents a change of 8.5% from the current year.

The current year per capita income in your area is $32,733 compare this to the Entire U.S. average, which is $29,472. The current year average household income in your area is $73,794 compare this to the Entire U.S. average, which is $77,008.

Race and Ethnicity The current year racial makeup of your selected area is as follows: 69.8% White, 15.5% Black, 0.6% Native American and 3.2% Asian/Pacific Islander. Compare these to the Entire U.S. Averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 17.5% of the current year population in your selected area. Compare this to the Entire U.S. average of 17.9%.

MARKET OVERVIEW

Housing In 2016, there were 64,013 owner occupied housing units in your area and there were 49,140 renter occupied housing units in your area.

Median home value in the area is $167,087 compared to a median home value of $198,891 for the U.S.

Employment In 2016, there are 136,619 employees in your selected area, this is also known as the daytime population. Currently, 67.3% of employees are employed in white-collar occupations in this geography, and 16.4% are employed in blue-collar occupations. In 2016, unemployment in this area is 4.9%.

Demographic data © 2016 esri This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2015 Vitorino Group

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DEMOGRAPHIC STATISTICS

LOWE’S STRIP CENTER 1 Mile

3 Miles

5 Miles

Income

1 Mile

3 Miles

5 Miles

2000 Population

11,728

93,259

262,598

$ 0 - $14,999

8.2%

13.5%

15.1%

2010 Population

11,744

89,324

247,635

$ 15,000 - $24,999

7.6%

9.1%

10.3%

2016 Population

11,795

92,247

256,844

$ 25,000 - $34,999

13.2%

11.3%

11.0%

2021 Population

12,085

95,719

266,802

$ 35,000 - $49,999

15.0%

12.4%

12.8%

$ 50,000 - $74,999

23.1%

17.9%

18.0%

$ 75,000 - $99,999

15.2%

12.0%

11.8%

$100,000 - $149,999

12.2%

11.9%

11.8%

3.1%

4.5%

4.2%

1 Mile

3 Miles

5 Miles

$200,000 +

2.6%

7.4%

5.2%

2000 Households

5,301

43,487

114,921

2016 Median Household Income

$54,617

$53,730

$50,794

2010 Households

5,202

41,251

109,355

2016 Per Capita Income

$30,650

$38,495

$32,733

2016 Households

5,187

42,602

113,153

2016 Average Household Income

$68,817

$83,119

$73,794

2021 Households

5,306

44,195

117,441

2016 Daytime Population

6,939

51,582

136,619

2.27

2.15

2.23

2010 Owner Occupied Housing Units

57.3%

52.0%

51.8%

2010 Renter Occupied Housing Units

33.8%

37.6%

36.4%

2010 Vacant

8.8%

10.4%

11.8%

2016 Owner Occupied Housing Units

55.7%

49.8%

49.5%

2016 Renter Occupied Housing Units

33.2%

39.3%

38.0%

2016 Vacant

11.2%

11.0%

12.4%

2021 Owner Occupied Housing Units

56.0%

49.5%

49.3%

2021 Renter Occupied Housing Units

32.0%

39.4%

38.2%

2021 Vacant

12.0%

11.1%

12.6%

2016 Average Household Size

PROPERTY DESCRIPTION

$150,000 - $199,999 Households

FINANCIAL ANALYSIS

Population

Traffic Counts

21,925

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2015 Vitorino Group

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CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

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 th e 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: ӽӽ that the owner will accept a price less than the written asking price; ӽӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽӽ 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.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

exclusively listed 469.844.8880 | STRIVERE.COM