MAPLE & WYCLIFF RETAIL CENTER DALLAS, TX
DOWNTOWN DALLAS
PRI CING & F INAN CI AL AN ALYSI S
M AP LE & WYC LIF F R E TAIL C E NT E R
Maple & Wycliff Retail Center 4305 Maple Ave Dallas, TX 75219
OFFERING SUMMARY Price Cap Rate
$6,307,000 5.00%
Net Operating Income
$315,388
Price PSF
$1,164.30
Occupancy
100%
Year Built
2000
Gross Leasable Area Lot Size
5,417 SF 0.36 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
M AP LE & WYC LIF F R E TAIL C E NT E R
PROJECTED INCOME & EXPENSES 100%
Base Rent - Occupied Space GROSS POTENTIAL RENT
PSF
EXPENSES
CURRENT
PSF
$314,994
$58.15
Real Estate Taxes
$47,157
$8.71
$314,994
$58.15
Insurance
$3,130
$0.58
Total CAM
$7,313
$1.35
CURRENT
Expense Reimbursements Real Estate Tax Recoveries
$47,157
$8.71
Management Fee
$10,662
$1.97
Insurance Recoveries
$3,521
$0.65
Total Expenses
$68,262
$12.60
CAM Recoveries
$7,313
$1.35
Management Fee Recoveries
$10,662
$1.97
Total Expense Reimbursements
$68,653
$12.67
EFFECTIVE GROSS REVENUE
$383,650
$70.82
Total CAM
$7,313
$1.35
Management Fee
$10,662
$1.97
Total Insurance
$3,130
$0.58
Total Real Estate Taxes
$47,157
$8.71
Total Recoverable Expenses
$68,262
$12.60
Net Operating Income
$315,388
$58.22
Operating Expenses
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
Available
M AP LE & WYC LIF F R E TAIL C E NT E R Suite
SQ FT
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
A
1,313
24.24%
-
-
$57,444
$4,787
$43.75
$16,640
$12.67
$74,084
19.31%
B
3,000
55.38%
05/20
04/25
$131,250
$10,938
$43.75
$38,021
$12.67
$169,271
44.12%
C
1,104
20.38%
09/14
04/27
$48,300
$4,025
$43.75
$13,992
$12.67
$62,292
16.24%
GL
0
0.00%
03/20
02/25
$78,000
$6,500
-
$0
$0
$78,000
20.33%
Total Count/GLA
4
5,417
100%
Totals
$314,994
$26,249
Occupied
4
5,417
100%
Available
0
0
0.0%
$43.75
4,313
100.0%
(Caplan Wellness Center LLC)
THRIVR24 (Caplan Wellness Center LLC)
Home Care Assistance (Caplan Wellness Center LLC)
Tasty Lane - 7,500 sf of dirt (Caplan Wellness Center LLC)
Total Avg Rent
$68,653
$383,647 100.00%
NOTES: 1. Seller will have the right to buy the property back any time from closing for 3 years after closing. 2. Dallas Home Care has a personal guaranty for 5 years.
E S TI MATED REIMBUR SEMEN T R EVEN U E Tenant
Available (Caplan Wellness Center LLC)
THRIVR24 (Caplan Wellness Center LLC)
Home Care Assistance (Caplan Wellness Center LLC)
Tasty Lane - 7,500 sf of dirt
Suite
SQ FT
% of SQFT
CAM
Management Fee
Insurance
Real Estate Taxes
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
A
1,313
24.24%
$953
$8.71
$71
$0.65
$148
$1.35
$215
$1.97
$1,387
$12.67
B
3,000
55.38%
$2,176
$8.71
$163
$0.65
$338
$1.35
$492
$1.97
$3,168
$12.67
C
1,104
$20.38%
$801
$8.71
$60
$0.65
$124
$1.35
$181
$1.97
$1,166
$12.67
GL
0
0.00%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
5,417
100%
$3,930
(Caplan Wellness Center LLC)
TOTALS
$293
$609
$889
$5,721
F I N A N C I A L A N A LY S I S
4
M AP LE & WYC LIF F R E TAIL C E NT E R
PROPERTY DESCRIPTION
5
TE NA NT INF ORMAT I ON
M AP LE & WYC LIF F R E TAIL C E NT E R
DBA
ThriVR24
Entity on Lease
Caplan Wellness Center LLC
Corporate/Franchise
Corporate
Locations
1 Location
Public/Private
Private
Line of Business
ThriVR24 is a fitness center that specializes in combining high-intensity interval training wth virtual reality gaming. Clients will participate in a 24-minute circuit workout involving three different exercises — kickboxing, flying and spin cycling.
DBA
Home Care Assistance
Entity on Lease
Caplan Wellness Center LLC
Corporate/Franchise
Corporate
Locations
2 Locations
Public/Private
Private
Line of Business
Dallas Home Care Assistance is a provider of in-home care in Dallas. The company offers an innovative, science-based approach to aging, elevating the standard of care for aging adults everywhere. Dallas Home Care Assistance provides 24-hour care, hourly care and care for clients with Dementia & Alzheimer’s.
DBA
Tasty Lane
Entity on Lease
Caplan Wellness Center LLC
Corporate/Franchise
Corporate
Locations
1 Location
Public/Private
Private
Line of Business
Tasty Lane is an accessory use for the ThriVR24 fitness center to provide an outdoor workout and events capability.
PROPERTY DESCRIPTION
6
I N VE S TMENT HI GHLI GHT S
•
M AP LE & WYC LIF F R E TAIL C E NT E R
Infill Retail Center in Oak Lawn, a Historic Neighborhood in Dallas
•
Well Located Asset in the Dallas Uptown Area, One of the Most Desirable Submarkets in the Country. Growth in this Area has been Over 28% in the Last 5 Years, with an Average Household Income Over $95,000 per year.
•
The Subject Property is Located in an “Emerging Market”
with
Significant
Redevelopment
Happening in the Immediate Area. •
The Go-in Return is 7.5% with the Possibility of a Buy out that Virtually Eliminates Risk
•
Replaceable Average Rents of $43/SF
•
One of the Densest Locations in Dallas – Over 379,000 Population in a 5 Mile Radius
•
Average Household Income is Over $110,000 in a 3 Mile Radius – 1.5X the National Average
•
Minutes From the Medical District – Home to Some of the Largest Hospitals in the Metroplex Employing Several Thousands of People and is Visited by 3 Million Patients Annually
PROPERTY DESCRIPTION
7
S I T E PL A N
M AP LE & WYC LIF F R E TAIL C E NT E R
Tasty Lane
ALLEY
ThriVR24
MAPLE AVE
Home Care Assistance
Caplan Wellness Center LLC
VAGAS AVE PROPERTY DESCRIPTION
8
A E R I AL MA P
M AP LE & WYC LIF F R E TAIL C E NT E R
PROPERTY DESCRIPTION
9
A E R I AL MA P
M AP LE & WYC LIF F R E TAIL C E NT E R
PROPERTY DESCRIPTION
10
LO C AL MA P
M AP LE & WYC LIF F R E TAIL C E NT E R
PROPERTY DESCRIPTION
11
REG IONA L MA P
M AP LE & WYC LIF F R E TAIL C E NT E R
PROPERTY DESCRIPTION
12
M A R KET S U MMARY
M AP LE & WYC LIF F R E TAIL C E NT E R
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 fourth-largest concentration of Fortune 500 companies in the country and is the largest economic center of the 12-county Dallas-Fort Worth metropolitan area. DFW has strong submarket occupancy rates, is home to more shopping centers per capita, and has the third-largest concentration of corporate headquarters for publicly traded companies in the U.S. Over the past decade, DFW has grown by some 1.3 million people to reach a population of just under 7.7 million, making it the nation’s fourth-largest metro. Population has surged almost three times faster than the average for the nation’s 50 largest metros. Much of this growth has come from net domestic migration. Among America’s top 20 metros, DFW boasts the fourth-highest rate of net inbound migration. From 2010 to 2020, DFW saw net inbound migration from elsewhere in the U.S. of more than 430,000—more than any other U.S. metro. It’s projected that DFW will reach 10 million people sometime in the 2030s, surpassing Chicago to become America’s third-largest metro area. The
metroplex owes its growth to railroads, interstate highways, and airports, plus an unusual degree of economic freedom and affordability. DFW’s economy is the fourth-largest in the U.S., with a 2020 real GDP of just over $620.6 billion. DFW’s economy is primarily based on banking, commerce, insurance, telecommunications, technology, energy, healthcare, medical research, transportation, and logistics. The city of Dallas is home to nine Fortune 500 companies, while the Metroplex hosts 22. Moreover, it is the only metro area in the country home to three of the top-10 largest Fortune 500 companies by revenue. 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 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
2 22 4th 3rd
No.
2
nd
Best Places for Business and Careers (Forbes, 2019) Fortune 500 Companies Call Dallas Home (Fortune) Largest Metropolitan Area in the United States Largest Concentration of Corporate Headquarters in the United States Most Economic Development Projects in U.S. Metros (Site Selection, 2020) PROPERTY DESCRIPTION
13
D E M OG RA PHIC STAT I ST I CS
M AP LE & WYC LIF F R E TAIL C E NT E R
1 Mile
3 Mile
5 Mile
Population
1 Mile
3 Mile
5 Mile
Households:
2010 Population
30,285
139,591
325,426
2010 Households
12,980
63,603
136,086
2022 Population
36,870
185,869
379,460
2022 Households
16,365
86,515
161,344
2027 Population Projection
37,905
193,158
387,197
2027 Household Projection
16,880
90,113
165,000
Annual Growth 2010-2022
1.8%
2.8%
1.4%
Annual Growth 2010-2022
1.5%
2.4%
1.3%
Annual Growth 2020-2027
0.6%
0.8%
0.4%
Annual Growth 2020-2027
0.6%
0.8%
0.5%
Median Age
39.1
36.8
36.2
Owner Occupied
4,920
25,764
58,939
Bachelor's Degree or Higher
50%
52%
46%
Renter Occupied
11,959
64,349
106,061
1
35
72
1.8
2
2.2
1
1
2
$475M
$2.7B
$5.1B
U.S. Armed Forces
Avg Household Size Avg Household Vehicles
Population by Race
Total Consumer Spending
White
265,68
137,905
293,171
Black
6,748
31,325
58,371
281
1,602
3,876
Avg Household Income
$101,767
$110,428
$108,706
2,621
11,433
17,074
Median Household Income
$72,725
$77,495
$72,031
23
186
346
$2,129
$12,876
$26,793
628
3,418
6,622
$25,000 - 50,000
2,821
13,534
29,067
13,288
66,839
155,921
$50,000 - 75,000
3,543
15,801
27,878
$75,000 - 100,000
2,117
10,489
17,852
American Indian/Alaskan Native Asian Hawaiian & Pacific Islander Two or More Races Hispanic Origin
Housing Median Home Value Median Year Built
Demographic data © CoStar 2021
Income
< $25,000
$362,048
$430,081
$439,229
$100,000 - 125,000
1,611
8,419
13,381
1986
1992
1974
$125,000 - 150,000
925
5,657
9,489
$150,000 - 200,000
1,355
6,361
10,585
$200,000+
1,865
13,379
26,299
PROPERTY DESCRIPTION
14
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