LEWISVILLE VILLAGE LEWISVILLE, TX (DALLAS MSA)
PRI CING & F INAN CI AL AN ALYSI S
LE WISV ILLE V ILLAG E
Lewisville Village 1425 Justin Rd Lewisville, TX 75077
OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built
$3,750,000 7.22% $270,831 $154.38 88.3% 1986
Gross Leasable Area
24,290 SF
Lot Size
2.86 Acres
F I N A N C I A L A N A LY S I S
2
PRI CING & F INAN CI AL AN ALYSI S
PROJECTED INCOME & EXPENSES Base Rent - Occupied Space GROSS POTENTIAL RENT
100%
LE WISV ILLE V ILLAG E
EXPENSES
CURRENT
PSF
$282,134
$11.62
Real Estate Taxes
$282,134
$11.62
Insurance
CURRENT
PSF
$55,000
$2.26
$8,500
$0.35
$3,500
$0.14
$1,167
$0.05
CAM
Expense Reimbursements $48,567
$2.00
Repairs & Maintenance
7,506
$0.31
Trash Disposal
CAM Recoveries
$15,667
$0.65
Electricity
$4,200
$0.17
Management Recoveries
$13,595
$0.56
Water
$4,300
$0.18
$85,336
$3.51
Canopy & Parking Lights
$976
$0.04
$367,469
$15.13
Landscape Maintenance
$3,600
$0.15
Total CAM
$17,743
$0.73
Real Estate Tax Recoveries Insurance Recoveries
Total Expense Reimbursements EFFECTIVE GROSS REVENUE Operating Expenses
$55,000
$2.26
Management Fee
$15,396
$0.63
Total Insurance
$8,500
$0.35
Total Expenses
$96,639
$3.98
Total CAM
$17,743
$0.73
Management Fee
$15,396
$0.63
Total Recoverable Expenses
$96,639
$3.98
Net Operating Income
$270,831
$11.15
Total Real Estate Taxes
For Financing Options, Please Contact: Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com
F I N A N C I A L A N A LY S I S
3
RE NT RO L L
Tenant
LE WISV ILLE V ILLAG E
Suite
SQ FT
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
Rusty Anchor Bar & Grill
100
3,010
12.39%
09/15
02/21
$36,120
$3,010
$12.00
$11,975
$3.98
$48,095
13.09%
American Masters Martial Arts
200
1,678
6.91%
03/09
MTM
$20,136
$1,678
$12.00
$6,676
$3.98
$26,812
7.30%
Jin's Massage
300
1,620
6.67%
02/15
01/26
$20,250
$1,688
$12.50
$6,445
$3.98
$26,695
7.26%
State Farm
350
1,626
6.69%
04/00
03/23
$17,886
$1,491
$11.00
$6,469
$3.98
$24,355
6.63%
Pawsome Pets
400
1,305
5.37%
08/18
07/23
$15,660
$1,305
$12.00
$5,192
$3.98
$20,852
5.67%
Fitzgerald Jewelry
450
1,216
5.01%
02/98
09/23
$14,592
$1,216
$12.00
$4,838
$3.98
$19,430
5.29%
Catering company
600
1,825
7.51%
10/19
09/21
$23,725
$1,977
$13.00
$7,261
$3.98
$30,986
8.43%
Event Center
700
2,990
12.31%
01/18
02/23
$38,870
$3,239
$13.00
$11,896
$3.98
$50,766
13.81%
Available
850
1,320
5.43%
-
-
$0
$0
$0.00
$0
$0.00
$0
0.00%
SI Computers
900
915
3.77%
05/02
10/21
$11,438
$953
$12.50
$3,640
$3.98
$15,078
4.10%
Village Motors
950
5,264
21.67%
11/09
MTM
$69,057
$5,755
$13.12
$20,943
$3.98
$90,000
24.49%
400A
1,521
6.26%
12/13
02/20
$0
$0
$0.00
$0
$0.00
$0
0.00%
PAD
0
0.00%
11/98
10/22
$14,400
$1,200
$0.00
$0
$0.00
$14,400
3.92%
Total Count/GLA
14
24,290
100%
Totals
$282,134
Occupied
12
21,449
88.3%
Available
2
2,841
11.7%
$12.48
21,449
100.0%
Available JPMorgan Chase ATM
Total Avg Rent
$85,336
$367,469 100.00%
F I N A N C I A L A N A LY S I S
4
E S TI MATED REIMBUR SEMEN T R EVEN U E
Tenant
Suite
SQ FT
LE WISV ILLE V ILLAG E
% of SQFT
CAM
Management Fee
Insurance
Real Estate Taxes
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Rusty Anchor Bar & Grill
100
3,010
12.39%
$183
$0.73
$159
$0.63
$88
$0.35
$568
$2.26
$998
$3.98
American Masters Martial Arts
200
1,678
6.91%
$102
$0.73
$89
$0.63
$49
$0.35
$317
$2.26
$556
$3.98
Jin's Massage
300
1,620
6.67%
$99
$0.73
$86
$0.63
$47
$0.35
$306
$2.26
$537
$3.98
State Farm
350
1,626
6.69%
$99
$0.73
$86
$0.63
$47
$0.35
$307
$2.26
$539
$3.98
Pawsome Pets
400
1,305
5.37%
$79
$0.73
$69
$0.63
$38
$0.35
$246
$2.26
$433
$3.98
Fitzgerald Jewelry
450
1,216
5.01%
$74
$0.73
$64
$0.63
$35
$0.35
$229
$2.26
$403
$3.98
Catering company
600
1,825
7.51%
$111
$0.73
$96
$0.63
$53
$0.35
$344
$2.26
$605
$3.98
Event Center
700
2,990
12.31%
$182
$0.73
$158
$0.63
$87
$0.35
$564
$2.26
$991
$3.98
Available
850
1,320
5.43%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
SI Computers
900
915
3.77%
$56
$0.73
$48
$0.63
$27
$0.35
$173
$2.26
$303
$3.98
Village Motors
950
5,264
21.67%
$320
$0.73
$278
$0.63
$154
$0.35
$993
$2.26
$1,745
$3.98
400A
1,521
6.26%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
PAD
0
0.00%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
24,290
100%
$1,306
Available JPMorgan Chase ATM Totals
$1,133
$625
$4,047
$7,111
F I N A N C I A L A N A LY S I S
5
TE NA NT INF ORMAT I ON
LE WISV ILLE V ILLAG E
Tenant
State Farm
Corporate/Franchise
Franchise
Public/Private
Private
Locations
18,000+ Exclusive Agents
Line of Business
State Farm is a large group of insurance and financial services companies throughout the United States with corporate headquarters in Bloomington, Illinois. State Farm is the largest property, casualty and auto insurance provider in the United States. State Farm relies on exclusive agents to sell insurance.
Tenant
Village Motors
Corporate/Franchise
Corporate
Public/Private
Private
Locations
1 Location
Line of Business
Village Motors is a motor vehicle dearlership that specializes in diesel trucks and other used vehicles. Village Motors also provides financing for any type of credit situation.
Tenant
SI Computers
Corporate/Franchise
Corporate
Public/Private
Private
Locations
1 Location
Line of Business
SI Computers is a computer sales and service center that specializes in the repair and sales of laptops, desktop computers, iPhones and iPads.
Tenant
Pawsome Pets
Corporate/Franchise
Corporate
Public/Private
Private
Locations
1 Location
Line of Business
Pawsome Pets is a dog and cat grooming service that provides various services including shampooing, nail trimming, teeth cleaning, massages and flea & tick treatment.
PROPERTY DESCRIPTION
6
I N VE S TMENT HI GHLI GHT S
LE WISV ILLE V ILLAG E
• Long-Term Tenancy: Lewisville Village has seen high tenant retention with 54% of the current tenant lineup at the Property for more than six years. Furthermore, of this collection of tenants 36% have been at the Property for 10 years or more. This seasoned tenant base survived the 2008 downturn, which would point to future longevity. • Great Location: Lewisville Village is in a premier location within a strong retail hub and benefits from area traffic generators including Walmart Neighborhood Market, Lowe’s, Best Buy and Office Max. The Property also benefits from traffic generated from The Shops at Highland Village, with retailers such as Whole Foods, AMC Theaters, Corner Bakery, and Barnes & Noble, as well as Highlands Plaza, which includes retailers such as Target, Bed Bath & Beyond, Academy, World Market, and many more. Lewisville Village is virtually the first property a home owner sees after exiting I-35 to travel east on Justin Rd. • H igh Traffic Counts with Convenient Access: With traffic counts of nearly 35,000, FM 407 (Justin Road) is a major east-west thoroughfare in this portion of Denton County connecting the city of Flower Mound to Lewisville and Interstate 35E. Additionally, the Property is less than a mile from Interstate 35, a major northsouth artery through Texas extending from Laredo through Oklahoma and as far north as Michigan. This stretch of I-35 carries more than 145,000 vehicles per day benefitting the Property with abundant consumer traffic. • Excellent Demographics: Since 2010, the trade area for Lewisville Village has seen an exceptional 13% growth in population. Additionally, the projected growth through 2025 for the same area is 12%. Currently, the population within a three mile radius of the Property is 81,134 residents increasing to 186,599 residents within five miles. Additionally, this affluent community’s population base has average annual incomes of $111,230, $112,890, and $120,023 within their respective one-, three- and five-mile radii. PROPERTY DESCRIPTION
7
LE WISV ILLE V ILLAG E S I T E PL A N
Village Motors
SI Computers Available
Available
Event Center
Catering Company Fitzgerald Jewelry
Available
Pawsome Pets
State Farm
Jin's Massage
American Masters Martial Arts
Rusty Anchor Bar & Grill
8 PROPERTY DESCRIPTION
A E R I AL MA P
LE WISV ILLE V ILLAG E
0 145, PD
M c AULIFFE ELEMENTARY SCHOOL
00 V
HIGHLAND VILLAGE ELEMENTARY SCHOOL
HERITAGE ELEM. SCHOOL BRIARHILL MIDDLE SCHOOL The Shops at Highland Village
JUSTIN RD
JUSTIN RD
The Highlands of Flower Mound
33,407 VPD
VALLEY RIDGE ELEMENTARY SCHOOL Robertson’s Creek Shopping Center
MARCUS HIGH SCHOOL
PRAIRIE TRAIL ELEMENTARY SCHOOL
LON G P R A I R I E
HUFFINES MIDDLE SCHOOL
RD
LAMAR MIDDLE SCHOOL
MARKET OVERVIEW
9
LO C AL MA P
LE WISV ILLE V ILLAG E
MARKET OVERVIEW
10
REG IONA L MA P
LE WISV ILLE V ILLAG E
MARKET OVERVIEW
11
M A R KET S U MMARY
LE WISV ILLE V ILLAG E
Dallas - Fort Worth, TX
OVERVIEW Dallas encompasses half of the Dallas-Fort Worth Metroplex and is the third-largest city in Texas and the ninth-largest city in the United States. Dallas is home to the third-largest concentration of Fortune 500 companies in the country and is the largest economic center of the Dallas-Fort Worth metropolitan area. The Metroplex has strong submarket occupancy rates, is home to more shopping centers per capita and has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area, which had a population of 7,573,136 according to the U.S. Census Bureau’s 2019 population estimates. From 2010 to 2019, the DFW Metroplex had the largest numerical population growth of any MSA in the United States. The metropolitan economy is the fourth-largest and third-fastest growing in the United States, with a 2017 real GDP of $535.5 billion. In 2018, Dallas had both the highest job growth rate and the most jobs added in the nation, and is the fourth-largest employment center in the nation (behind New York
City, Los Angeles, and Chicago) with more than three million non-farm jobs. In the latest rankings released in 2018, Dallas was rated as a “beta plus” world city by the Globalization and World Cities Study Group & Network. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Cooperation and Development. The DFW Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. As of 2020, the city of Dallas has 10 Fortune 500 companies, and the DFW region as a whole has 25. Dallas is the best-ranked city on the Regulatory Climate Index thanks to its efficient local regulations. Entrepreneurs and small businesses can expect a welcoming business environment across all five areas of local regulation. Dallas scores above average across each meaningful measure of an interaction that a business has with a local government agency through procedure, time, and cost. These rankings reflect the city’s continuing efforts to develop programs and initiatives to strengthen the business environment, provide access to capital, and encourage economic growth at the local level.
Q U I C K S TAT S
No.
1
4 5th 25
th
10K
Fastest Growing MSA in the U.S. from 2010 to 2019 (U.S. Census Bureau) Largest Metropolitan Area in the United States Fastest Growing Economy in the U.S. (Forbes) Fortune 500 Companies Call DFW Home (American City Business Journals) Home to over 10,000 corporate headquarters, making it the largest concentration in the U.S. MARKET OVERVIEW
12
D E M OG RA PHIC STAT I ST I CS
LE WISV ILLE V ILLAG E
1 Mile
3 Mile
5 Mile
Population
1 Mile
3 Mile
5 Mile
Households:
2010 Population
11,389
71,780
163,743
2010 Households
4,060
25,585
57,499
2020 Population
12,583
81,134
186,599
2020 Households
4,401
28,742
65,348
2025 Population Projection
14,043
90,782
208,986
2025 Household Projection
4,898
32,116
73,117
Annual Growth 2010-2020
1.00%
1.30%
1.40%
Annual Growth 2010-2020
0.70%
1.00%
1.10%
Annual Growth 2020-2025
2.30%
2.40%
2.40%
Annual Growth 2020-2025
2.30%
2.30%
2.40%
Median Age
39.6
38.2
37.5
Owner Occupied
3,876
21,043
48,012
Bachelor's Degree or Higher
37%
36%
39%
Renter Occupied
525
7,699
17,337
27
69
115
Avg Household Size
2.8
2.8
2.8
2
2
2
$138.4M
$881.2M
$2.1B
Avg Household Income
$111,230
$112,890
$120,023
Median Household Income
$97,472
$90,711
$95,574
< $25,000
236
2,269
4,987
U.S. Armed Forces
Avg Household Vehicles
Population By Race
Total Consumer Spending
White
9,683
66,635
151,045
Black
1,305
5,946
14,307
74
671
1,515
1,198
5,898
15,243
Hawaiian & Pacific Islander
10
75
177
Two or More Races
314
1,909
4,313
$25,000 - 50,000
769
5,053
10,315
1,727
16,866
38,081
$50,000 - 75,000
609
4,547
10,000
$75,000 - 100,000
653
3,982
8,957
American Indian/Alaskan Native Asian
Hispanic Origin
Housing Median Home Value Median Year Built
Demographic data © CoStar 2020
Income
$255,972
$272,312
$290,586
$100,000 - 125,000
697
3,539
7,813
1992
1990
1993
$125,000 - 150,000
510
2,297
5,258
$150,000 - 200,000
552
3,816
9,047
$200,000+
376
3,240
8,970
MARKET OVERVIEW
13
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: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ 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