The Landing on Lake Marble Falls - Marble Falls, TX by STRIVE

THE LANDING ON LAKE MARBLE FALLS MARBLE FALLS, TX (AUSTIN MSA)

PRICING & FINANCIAL ANALYSIS

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

The Landing on Lake Marble Falls 101 US 281 Marble Falls, TX 78654

OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built

$4,360,000 7.15% $311,874 $215.42 88.4% 2007

Gross Leasable Area

20,240 SF

Lot Size

1.66 Acres

F I N A N C I A L A N A LY S I S

PRICING & FINANCIAL ANALYSIS

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

PROJECTED INCOME & EXPENSES Base Rent - Occupied Space

CURRENT 100%

GROSS POTENTIAL RENT

PSF

EXPENSES

CURRENT

PSF

$350,469

$17.32

Real Estate Taxes

$70,818

$3.50

$350,469

$17.32

Insurance

$15,433

$0.76

Expense Reimbursements

CAM

CAM Recoveries

$45,995

$2.27

RCAM- Allied Waste

$2,869

$0.14

Management Fee Recoveries

$14,263

$0.70

RCAM- City of Marble Falls

$7,530

$0.37

Insurance Recoveries

$12,982

$0.64

RCAM- Landscaping

$12,163

$0.60

Real Estate Tax Recoveries

$59,572

$2.94

RCAM- Exterminating

$563

$0.03

Total Expense Reimbursements

$132,813

$6.56

RCAM- Electric

$1,132

$0.06

$483,280

$23.88

RCAM- General Maintenance

$927

$0.05

OE - Elevator

$2,376

$0.12

$17,008

$0.84

EFFECTIVE GROSS REVENUE Operating Expenses Total CAM

$68,199

$3.37

OE - Office Cleaning

$16,956

$0.84

OE - Maintenance

$1,403

$0.07

Total Insurance

$15,433

$0.76

OE - A/C Maintenance

$2,323

$0.11

Total Real Estate Taxes

$70,818

$3.50

OE - Electric

$13,765

$0.68

Total Recoverable Expenses

$171,406

$8.47

OE - Security

$3,570

$0.18

Net Operating Income

$311,874

$15.41

OE - Phone/Elevator & Fire Alarm

$2,506

$0.12

$65

$0.00

$68,199

$3.37

$16,956

$0.84

$171,406

$8.47

Management Fee

3.80%

OE - Fire Extinguisher Maint Total CAM Management Fee Total Expenses

3.80%

F I N A N C I A L A N A LY S I S

RE NT RO L L

Tenant

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

Suite

SQ FT

% of SQFT

Lease Dates

Minimum Rent

Start

End

Annual

Monthly

Recoveries

Total

PSF

Annual

PSF

Revenue

% of Revenue

$0.00

0.00%

Available

100

913

4.51%

Brink Bennett Flaherty PLLC

101

792

3.91%

03/17

02/20

$18,485

$1,540

$23.34

$5,024

$6.34

$23,509

4.86%

102/103

3,165

15.64%

10/17

09/21

$62,540

$5,212

$19.76

$20,077

$6.34

$82,617

17.10%

Creative Roots Salon

104

1,392

6.88%

03/19

02/23

$26,448

$2,204

$19.00

$8,830

$6.34

$35,278

7.30%

Nail Lounge

105

1,392

6.88%

09/19

08/23

$29,232

$2,436

$21.00

$8,830

$6.34

$38,062

7.88%

Pending Tenant

200

1,312

6.48%

$24,924

$2,077

$19.00

$8,323

$6.34

$33,247

6.88%

Beltone Hearing Care Center

201

692

3.42%

01/18

01/21

$11,764

$980

$17.00

$7,884

$11.39

$19,648

4.07%

Imperial Private Equity

203

787

3.89%

04/17

03/20

$14,953

$1,246

$19.00

$8,967

$11.39

$23,920

4.95%

Capital Home Health

204

874

4.32%

06/18

05/21

$16,676

$1,390

$19.08

$9,958

$11.39

$26,634

5.51%

Laura Turner

205B

184

0.91%

MTM

$5,400

$450

$29.35

$0.00

$5,400

1.12%

Tyler Dunkelberger

205C

184

0.91%

MTM

$5,400

$450

$29.35

$0.00

$5,400

1.12%

Available

205D

165

0.82%

$0.00

0.00%

Available

205A

165

0.82%

$0.00

0.00%

206/208

2,560

12.65%

06/18

05/23

$51,200

$4,267

$20.00

$29,167

$11.39

$80,367

16.63%

207

1,103

5.45%

$0.00

0.00%

Bldg 2 - 101

4,060

20.06%

08/16

07/26

$83,446

$6,954

$20.55

$25,754

$6.34

$109,200

22.60%

Storage

500

2.47%

$0.00

0.00%

Total Count/GLA

20,240

100%

Totals

$350,469

$29,206

$483,282

100.00%

Occupied

17,894

88.4%

Available

2,346

11.6%

$19.59

17,894

100.0%

Simply Pho House

Merrill Lynch Available Lakeside Children's Dentistry Storage

Total Avg Rent

$132,813

F I N A N C I A L A N A LY S I S

ESTIMATED REIMBURSEMENT REVENUE Tenant

Suite

SQ FT

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X CAM

% of

Management Fee

Insurance

Real Estate Taxes

Total Recovery

SQFT

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Available

100

913

4.51%

$0.00

Brink Bennett Flaherty PLLC

101

792

3.91%

$82

$1.24

$55

$0.84

$50

$0.76

$231

$3.50

$419

$6.34

102/103

3,165

15.64%

$328

$1.24

$221

$0.84

$201

$0.76

$923

$3.50

$1,673

$6.34

Creative Roots Salon

104

1,392

6.88%

$144

$1.24

$97

$0.84

$88

$0.76

$406

$3.50

$736

$6.34

Nail Lounge

105

1,392

6.88%

$144

$1.24

$97

$0.84

$88

$0.76

$406

$3.50

$736

$6.34

Pending Tenant

200

1,312

6.48%

$136

$1.24

$92

$0.84

$83

$0.76

$383

$3.50

$694

$6.34

Beltone Hearing Care Center

201

692

3.42%

$363

$6.29

$48

$0.84

$44

$0.76

$202

$3.50

$657

$11.39

Imperial Private Equity

203

787

3.89%

$413

$6.29

$55

$0.84

$50

$0.76

$229

$3.50

$747

$11.39

Capital Home Health

204

874

4.32%

$458

$6.29

$61

$0.84

$56

$0.76

$255

$3.50

$830

$11.39

Laura Turner

205B

184

0.91%

$0.00

Tyler Dunkelberger

205C

184

0.91%

$0.00

Available

205D

165

0.82%

$0.00

Available

205A

165

0.82%

$0.00

206/208

2,560

12.65%

$1,343

$6.29

$179

$0.84

$163

$0.76

$746

$3.50

$2,431

$11.39

207

1,103

5.45%

$0.00

Bldg 2 - 101

4,060

20.06%

$421

$1.24

$283

$0.84

$258

$0.76

$1,184

$3.50

$2,146

$6.34

Storage

500

2.47%

$0.00

20,240

100%

$3,833

Simply Pho House

Merrill Lynch Available Lakeside Children's Dentistry Storage TOTALS

$1,189

$1,082

$4,964

$11,068

F I N A N C I A L A N A LY S I S

L E A SE PROVIS ION S

Tenant

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

Suite

Base Rental Increases

SQ FT

Renewal Options

Date

PSF

Options

Date

PSF

Available

100

913

Brink Bennett Flaherty PLLC

101

792

3/1/2019

$23.34

1x3

3/1/2020

FMV

102/103

3,165

10/1/2019 10/1/2020

$20.35 $20.96

Creative Roots Salon

104

1,392

3/1/2019 3/1/2020 3/1/2021 3/1/2022

$19.00 $19.50 $20.00 $20.50

1x3

3/1/2023

FMV

Nail Lounge

105

1,392

9/1/2019 9/1/2020 9/1/2021 9/1/2022

$21.85 $22.29 $22.74 $23.19

1x5

9/1/2023

FMV

Pending Tenant

200

1,312

Beltone Hearing Care Center

201

692

2/1/2020

$17.50

Imperial Private Equity

203

787

Capital Home Health

204

874

6/1/2019 6/1/2020

$19.50 $20.00

Laura Turner

205B

184

Tyler Dunkelberger

205C

184

Available

205D

165

Available

205A

165

206/208

2,560

6/1/2019 6/1/2020 6/1/2021 6/1/2022

$20.50 $21.00 $21.50 $22.00

1x5

6/1/2023

FMV

207

1,103

Bldg 2 - 101

4,060

8/1/2019 8/1/2020 8/1/2021 8/1/2022 8/1/2023 8/1/2024 8/1/2025

$20.91 $21.33 $21.76 $22.20 $22.64 $23.09 $23.55

2x5

8/1/2026 8/1/2031

$25.77 $28.35

Simply Pho House

Merrill Lynch

Available Lakeside Children's Dentistry

TOTAL

20,240

F I N A N C I A L A N A LY S I S

TE NA NT INF ORMAT I ON

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

Tenant

Merrill Lynch

Locations

2,200+ Locations

Public/Private

Public

Line of Business

Merrill Lynch Wealth Management is an American wealth management division under the auspices of Bank of America. The firm engages in prime brokerage and security dealings, and employs over 15,000 financial advisors and manages $2.2 trillion in client assets.

Tenant

Lakeside Children’s Dentistry

Locations

1 Location

Public/Private

Private

Line of Business

Lakeside Children’s Dentistry provides specialized dentistry for children and adolescents, including those with special health care needs in a “child-friendly” environment. Lakeside Children’s Dentistry offers sedation dentistry and general anesthesia in the office, as well as hospital dentistry on an outpatient basis.

Tenant

Beltone Hearing Care Center

Locations

1,500+ Locations

Public/Private

Private

Line of Business

Beltone is a hearing aid company that has over 1500 independently owned hearing care centers worldwide. Beltone provides hearing screenings, hearing aid fittings and follow-up care. In addition, Beltone offers an aftercare program which covers Beltone hearing aids in several ways for as long as their patients own them.

PROPERTY DESCRIPTION

I N VE S TMENT HI GHLI GHT S

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

• Strong Value-Add Component: The Property is Currently 88 Percent Occupied Providing Investors with a Stable Current Cash Flow while Offering Significant Upside through the Lease Up of the Remaining Available Space. • G reat Visibility with High Traffic Counts: The Landing on Lake Marble Falls is Situated off US-281 where Traffic Counts Exceed 27,000 Vehicles Per Day. The Property has Views of Lake Marble Falls and Incredible Visibility off the Highway Catching Traffic from Horseshoe Bay. • H igh Quality Construction: Attractive 2007 Construction. Active Center with Vibrant Office Spaces on Second Floor. • Great Location: Across the Street from Lakeside Park. Surrounding National Retailers include HEB, Chili’s, Subway, Home Depot, Sonic, Dairy Queen, Starbucks, CVS and Many More. • Growing Area: The Immediate Surrounding Area has Experienced Population Growth Over 10.24 Percent Since 2010

PROPERTY DESCRIPTION

S I T E PL A N

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

PROPERTY DESCRIPTION

A E R I AL MA P

10 TH

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

ST 17 , 20

MARBLE FALLS HIGH SCHOOL

MARBLE FALLS MIDDLE SCHOOL

MARBLE FALLS ELEMENTARY SCHOOL

27,000 VPD

PROPERTY DESCRIPTION

LO C AL MA P

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

PROPERTY DESCRIPTION

REG IONA L MA P

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

PROPERTY DESCRIPTION

M A R KET S U MMARY

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

Marble Falls, TX

OVERVIEW Marble Falls, Texas, is a city in Burnet County that sits on the banks of Lake Marble Falls. It is located in the middle of the Texas Hill Country on the Colorado River, 48 miles northwest of Austin, 75 miles north of San Antonio and in the middle of the Highland Lakes area, the largest chain of lakes in the state of Texas. As of the 2017 United States Census estimates, the population of Marble Falls was 6,514.

for an industrial city. Within 10 years, Marble Falls had a population of 1,800. During the last thirty years, Marble Falls has grown into the retail and entertainment center for the Highland Lakes area, and continues to attract tourists, retirees and new businesses. As the hub of the Highland Lakes area, Marble Falls sees a daytime population increase of nearly 5,000 people due to commuting.

Marble Falls gained its name from Lake Marble Falls, which were formed by a shelf of limestone running diagonally across the river from northeast to southwest. The upper layer of limestone, brownish on the exterior, but deep blue inside, was so hard and cherry it was mistaken for marble. The natural lake was covered when the Colorado River was dammed with the completion of Max Starcke Dam in 1951.

Marble Falls sits within 30 miles of vast parks and recreational areas, lakes and rivers, making it a great launching point for exploring some of the best scenery in the Hill Country. The city has also hosted the Marble Falls LakeFest, one of the largest drag boat races in the United States, each August, and is renowned for some of the finest wineries in Texas. Boating, fishing, golf, hunting, camping, swimming, sightseeing and shopping are also common activities in Marble Falls.

Marble Falls was founded in 1887 by General Adam R. â&#x20AC;&#x153;Stovepipeâ&#x20AC;? Johnson, a former Burnet County surveyor, who viewed the area as a prime location

PROPERTY DESCRIPTION

D E M OG RA PHIC STAT I ST I CS

THE L A N DI N G ON LAK E M AR B LE FALLS - M AR B LE FALLS, T X

1 MILE

3 MILE

5 MILE

4,033

10,308

13,485

Population: 2023 Projection 2018 Estimate

3,713

9,531

12,478

2010 Census

3,368

8,886

11,689

Growth 2018-2023

8.62%

8.15%

8.07%

Growth 2010-2018

10.24%

7.26%

6.75%

1,200

2,444

3,324

White

3,441

8,830

11,629

Black

119

312

351

Am. Indian & Alaskan

100

127

Asian

120

151

Other

161

203

U.S. Armed Forces:

2023 Projection

1,702

4,256

5,448

2018 Estimate

1,566

3,932

5,035

2010 Census

1,427

3,681

4,729

Growth 2018 - 2023

8.68%

8.24%

8.20%

Growth 2010 - 2018

9.74%

6.82%

6.47%

787

2,353

3,208

2018 Population Hispanic Origin

2018 Population by Race:

Hawaiian & Pacific Island

Households:

Owner Occupied

779

1,579

1,827

2018 Avg Household Income

Renter Occupied

$55,080

$65,919

$67,045

2018 Med Household Income

$41,106

$52,921

$53,716

2018 Households by Household Inc: <$25,000

370

830

1,079

$25,000 - $50,000

573

1,055

1,300 1,025

$50,000 - $75,000

238

793

$75,000 - $100,000

229

565

726

$100,000 - $125,000

332

405

$125,000 - $150,000

163

218

$150,000 - $200,000

136

$200,000+

106

147

PROPERTY DESCRIPTION

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 tenantâ&#x20AC;&#x2122;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