SAM MOON CENTER FRISCO, TX (DFW MSA)
PRI CING & F INAN CI AL AN ALYSI S
SAM M O O N C E NT E R - F R ISCO, T X
Sam Moon Center 2429-2469 Preston Rd Frisco, TX 75034
OFFERING SUMMARY Price Cap Rate
$10,500,000 6.42%
Net Operating Income
$674,183
Price PSF
$273.75
Occupancy
100.0%
Year Built
2002
Gross Leasable Area
38,356 SF
Lot Size
3.66 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
100%
GROSS POTENTIAL RENT
SAM M O O N C E NT E R - F R ISCO, T X
CURRENT
PSF
EXPENSES
CURRENT
PSF
$674,182
$17.58
Real Estate Taxes
$187,234
$4.88
$674,182
$17.58
Insurance
$25,000
$0.65
CAM
Expense Reimbursements Real Estate Tax Recoveries
$187,694
$4.89
Fire Alarm
$1,217
$0.03
Insurance Recoveries
$21,072
$0.55
Landscape
$32,053
$0.84
CAM Recoveries
$90,814
$2.37
R&M
$3,675
$0.10
Management Recoveries
$35,318
$0.92
Pest Control
$1,064
$0.03
Total Expense Reimbursements
$334,897
$8.73
Waste
$1,759
$0.05
EFFECTIVE GROSS REVENUE
$1,009,080
$26.31
Water
$42,208
$1.10
Electricity
$8,838
$0.23
$90,814
$2.37
$35,318
$0.92
$334,896
$8.73
Operating Expenses Total Real Estate Taxes
$187,694
$4.89
Total CAM
Total Insurance
$21,072
$0.55
Management Fee
Total CAM
$90,814
$2.37
Total Expenses
$35,318
$0.92
Total Recoverable Expenses
$334,896
$8.73
Net Operating Income
$674,183
$17.58
Management Fee
3.50%
3.50%
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
SAM M O O N C E NT E R - F R ISCO, T X
Suite
SQ FT
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
A2B Sweets and Restaurant
100
3,953
10.31%
07/16
07/26
$134,402
$11,200
$34.00
$34,515
$8.73
$168,917
16.74%
Desi Café
200
1,600
4.17%
05/23
11/28
$38,400
$3,200
$24.00
$13,970
$8.73
$52,370
5.19%
Simply Spice Caterers
300
2,441
6.36%
06/19
01/25
$49,734
$4,144
$20.37
$21,313
$8.73
$71,047
7.04%
Love That Door
400
2,382
6.21%
04/18
07/24
$49,223
$4,102
$20.66
$20,798
$8.73
$70,021
6.94%
Sam Moon Trading
500
18,518
48.28%
06/04
05/29
$259,252
$21,604
$14.00
$161,686
$8.73
$420,938
41.72%
Sam Moon Luggage
510
5,987
15.61%
06/04
05/29
$83,818
$6,985
$14.00
$52,274
$8.73
$136,092
13.49%
Aabharan By Mallika
600
3,475
9.06%
11/22
03/26
$59,353
$4,946
$17.08
$30,341
$8.73
$89,694
8.89%
Total Count/GLA
7
38,356
100%
Totals
$674,182
$56,182
$1,009,079
100.00%
Occupied
7
38,356
100.0%
Available
0
0
0.0%
$17.58
38,356
100.0%
Total Avg Rent
$334,897
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
% of SQFT
SAM M O O N C E NT E R - F R ISCO, T X
Real Estate Taxes
Insurance
CAM
Management Fee
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
A2B Sweets and Restaurant
100
3,953
10.31%
$1,612
$4.89
$181
$0.55
$780
$2.37
$303
$0.92
$2,876
$8.73
Desi Café
200
1,600
4.17%
$652
$4.89
$73
$0.55
$316
$2.37
$123
$0.92
$1,164
$8.73
Simply Spice Caterers
300
2,441
6.36%
$995
$4.89
$112
$0.55
$482
$2.37
$187
$0.92
$1,776
$8.73
Love That Door
400
2,382
6.21%
$971
$4.89
$109
$0.55
$470
$2.37
$183
$0.92
$1,733
$8.73
Sam Moon Trading
500
18,518
48.28%
$7,551
$4.89
$848
$0.55
$3,654
$2.37
$1,421
$0.92
$13,474
$8.73
Sam Moon Luggage
510
5,987
15.61%
$2,441
$4.89
$274
$0.55
$1,181
$2.37
$459
$0.92
$4,356
$8.73
Aabharan By Mallika
600
3,475
9.06%
$1,417
$4.89
$159
$0.55
$686
$2.37
$267
$0.92
$2,528
$8.73
38,356
100%
$15,641
Totals
$1,756
$7,568
$2,943
$27,908
F I N A N C I A L A N A LY S I S
5
L E A SE PROVIS ION S
Tenant
SAM M O O N C E NT E R - F R ISCO, T X
Suite
Base Rental Increases
SQ FT
Renewal Options
Date
PSF
Options
Date
PSF
A2B Sweets and Restaurant
100
3,953
-
-
-
-
-
Desi Café
200
1,600
-
-
-
-
-
Simply Spice Caterers
300
2,441
-
-
-
-
-
Love That Door
400
2,382
-
-
1x5
8/1/2024
MKT Rate
Sam Moon Trading
500
18,518
-
-
2x5
6/1/2029 6/1/2034
$14.00 $15.40
Sam Moon Luggage
510
5,987
-
-
2x5
6/1/2029 6/1/2034
$14.00 $15.40
Aabharan By Mallika
600
3,475
-
-
2x3
4/1/2026 4/1/2029
$18.79 $20.67
Totals
F I N A N C I A L A N A LY S I S
6
TE NA NT INF ORMAT I ON
SAM M O O N C E NT E R - F R ISCO, T X
Tenant
Sam Moon Trading Co.
Corporate/Franchise
Corporate
Locations
6 Locations
Public/Private
Private
Line of Business
Sam Moon Trading Co. is a Dallas-based regional wholesaler that specializes in women’s fashion handbags, jewelry and accessories. Founded in 1984 by David and In Sun Moon, Sam Moon quickly became Dallas’ destination for wholesale women’s accessories and handbags. Sam Moon later opened stores to the public in 1994 and now operates six flagship locations throughout Texas.
DBA
Love That Door
Locations
4 Locations
Public/Private
Private
Line of Business
Love That Door looks to perfection as the ultimate pursuit — and our design, manufacturing, delivery, and installation services are no exception. Each wrought iron door is treated with the highest care and given the utmost of our attention. Our quality standards ensure the legacy of your Love That Door product is perfectly maintained to last a lifetime. Our lifetime warranty stands behind that promise.
DBA
A2B Indian Vegetarian Restaurant
Public/Private
Private
Line of Business
We serve delicious vegetarian food made using fresh, quality ingredients catering to a multitude of taste preferences, without burning a hole in your wallet! We’re big on flavour and uncompromising on service, so much so that our restaurants are reckoned to be amongst the best vegetarian restaurants in the country. Our sweets and snacks range from the melt-in-your-mouth Mysorepak from the south, the multi-variety Malaipeda of the North, the mouth-watering Badam Halwa of the East or the timeless dry fruits of the West. Our products are synonymous with traditional taste that you know and love while pioneering in the use of the latest techniques in manufacturing
PROPERTY DESCRIPTION
7
I N VE S TMENT HI GHLI GHT S
•
100% Leased Neighborhood Retail Center in Dominant Location Pad Site to Stonebriar Centre in Frisco, TX
•
NNN Leases & Staggered Lease Turnover
•
Average Base Rents of $17.58/SF are Well Below Market – Small Shop Spaces is Leasing for $35/ SF-$45/SF in Frisco & 5,000-10,000 SF Suites are Leasing for $25/SF +
•
Situated on the NWC of Preston Rd & Highway 121 – an Intersection that sees Over 186,000 Vehicles per Day
•
Stonebriar Centre is the #2 Mall in DFW by Sales Volume and Draws Over 20 Million People Annually
•
Outstanding Demographics – Average Household Income in a 5 Mile Radius is Almost 2X the National Average at $144,000
•
Booming North Dallas Fort Worth Location – Annual Population Growth of 8.7% in a 1 Mile Radius Since 2010
•
Frisco is Home for Several Corporate Headquarter Offices Including Dallas Cowboys, Bank of America, PepsiCo, McAfee, Toyota, PGA, Frito-Lay, Hewlitt Packard, Capital One Intuit, Fed Ex & Many More
SAM M O O N C E NT E R - F R ISCO, T X
PROPERTY DESCRIPTION
8
S I T E PL A N
SAM M O O N C E NT E R - F R ISCO, T X
Aabharan by Mallika
Sam Moon Luggage & Gifts
Sam Moon Trading Co
Love That Door
Simply Spice Caterers Desi Cafe
A2B Sweets & Restaurant
PROPERTY DESCRIPTION
9
A E R I AL MA P
SAM M O O N C E NT E R - F R ISCO, T X
30,951 VPD
PRESTON RD
STONEBRIAR CENTRE
FRISCO ROUGHRIDERS STADIUM
SITE
12
S
AM
Y RA
R BU
O NT
V 20 3, 5
PD
Y WA L L
MARKET OVERVIEW
10
A E R I AL MA P
SAM M O O N C E NT E R - F R ISCO, T X
STONEBRIAR CENTRE 20+ MILLION VISITORS PER YEAR
MARKET OVERVIEW
11
LO C AL MA P
SAM M O O N C E NT E R - F R ISCO, T X
MARKET OVERVIEW
12
REG IONA L MA P
SAM M O O N C E NT E R - F R ISCO, T X
MARKET OVERVIEW
13
M A R KET S U MMARY
SAM M O O N C E NT E R - F R ISCO, T X
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
14
D E M OG RA PHIC STAT I ST I CS
SAM M O O N C E NT E R - F R ISCO, T X
1 Mile
3 Mile
5 Mile
Population
1 Mile
3 Mile
5 Mile
Households:
2010 Population
7,612
83,880
241,666
2010 Households
3,874
33,122
90,596
2023 Population
16,191
110,023
324,729
2023 Households
7,818
44,277
122,234
2028 Population Projection
18,140
119,127
352,008
2028 Household Projection
8,733
48,026
132,586
Annual Growth 2010-2023
8.70%
2.40%
2.60%
Annual Growth 2010-2023
7.20%
2.50%
2.70%
Annual Growth 2023-2028
2.40%
1.70%
1.70%
Annual Growth 2023-2028
2.30%
1.70%
1.70%
Median Age
37.1
38.3
38.7
Owner Occupied
2,460
25,020
84,140
Bachelor's Degree or Higher
68%
62%
60%
Renter Occupied
6,274
23,006
48,447
U.S. Armed Forces
29
213
218
Avg Household Size
2.1
2.5
2.6
Avg Household Vehicles
2
2
2
Total Consumer Spending
$257.3M
$1.7B
$5B
Population by Race White
8,879
64,343
200,346
Black
2,024
10,142
29,394
American Indian/Alaskan Native
101
602
1,674
Avg Household Income
$117,504
$131,489
$144,421
4,624
31,510
83,270
Median Household Income
$103,883
$106,124
$115,919
Hawaiian & Pacific Islander
13
78
257
< $25,000
469
3,463
7,330
Two or More Races
550
3,348
9,787
$25,000 - 50,000
693
5,204
12,992
Hispanic Origin
1,784
13,194
39,004
$50,000 - 75,000
1,228
5,983
15,375
$75,000 - 100,000
1,209
5,994
15,143
Asian
Housing
Income
Median Home Value
$385,684
$411,962
$404,155
$100,000 - 125,000
1,999
6,103
16,140
Median Year Built
2010
2002
2001
$125,000 - 150,000
674
4,149
11,480
$150,000 - 200,000
692
5,449
16,343
$200,000+
855
7,933
27,432
Demographic data © CoStar 2023
MARKET OVERVIEW
15
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