SINGLE TENANT VIRGINIA NNN INVESTMENT OPPORTUNITY POWHATAN ACTUAL SITE

Transcription

1 SINGLE TENANT NNN INVESTMENT OPPORTUNITY POWHATAN VIRGINIA

2 EXCLUSIVELY MARKETED BY JIM SCHUCHERT FIRST VICE PRESIDENT SRS NATIONAL NET LEASE GROUP 610 Newport Center Drive, Suite 1500 Newport Beach, CA M: CA License No JOE SCHUCHERT FIRST VICE PRESIDENT SRS NATIONAL NET LEASE GROUP 610 Newport Center Drive, Suite 1500 Newport Beach, CA M: CA License No Broker of Record: David Wirth - VA License No REPRESENTATIVE PHOTO

3 TABLE OF CONTENTS 4 INVESTMENT SUMMARY OFFERING HIGHLIGHTS INVESTMENT HIGHLIGHTS 7 PROPERTY OVERVIEW AERIALS LOCATION MAP SITE PLAN 15 AREA OVERVIEW CITY OVERVIEW DEMOGRAPHICS 17 FINANCIALS RENT ROLL BRAND PROFILE

4 INVESTMENT SUMMARY SRS National Net Lease Group is pleased to present the opportunity to acquire the fee simple interest (land and building ownership) in an Advance Auto Parts property located in Powhatan, Virginia. Built in 2005, the lease has approximately 10+ years remaining in the current term, with three (3) five (5) year options at rental increases. Advance Auto Parts recently committed to an 8+ year extension of the lease, reflecting their strong commitment to this location. The lease is NNN in nature as Advance Auto Parts is responsible for the roof, parking lot, and HVAC. The lease is guaranteed by Advance Stores Company, Inc. (NYSE: AAP) with an investment grade credit rating of BBB- from Standard & Poor s. The subject property is located on U.S. Route 60, boasting traffic counts in excess of 27,000 vehicles per day. Powhatan is located approximately 25 miles east of Richmond VA, 63 miles southeast of Charlottesville VA, and 125 miles south of Washington D.C. The subject property benefits from its location in a dense retail corridor that includes national/credit tenants such as Walmart, CVS, Food Lion, Tractor Supply Co., McDonald s, Sheetz, Taco Bell, Dollar General, Goodwill, Bojangles, and AutoZone. The 5-mile trade area is supported by a dense population of approximately 12,909 residents with an affluent average household income in excess of $102, INVESTMENT SUMMARY SRS NATIONAL NET LEASE GROUP.

5 OFFERING HIGHLIGHTS OFFERING PRICING: $1,935,652 NET OPERATING INCOME: $111,300 CAP RATE: 5.75% GUARANTY: Corporate LEASE TYPE: NNN LANDLORD RESPONSIBILITIES: Slab & Structure PROPERTY SPECIFICATIONS RENTABLE AREA: 7,000 SF LAND AREA: 1.31 Acres PROPERTY ADDRESS: 1790 S Creek One, Powhatan, VA YEAR BUILT: 2005 PARCEL NUMBER: 042E-1-2 OWNERSHIP: Fee Simple (Land and Building) 5 OFFERING HIGHLIGHTS SRS NATIONAL NET LEASE GROUP.

6 INVESTMENT HIGHLIGHTS ADVANCE AUTO PARTS CORPORATE LEASE: 10 Years Remaining in the Current Lease Term with Three (3) Five (5) Year Options to Renew Tenant Recently Extended Their Lease for an Additional 8+ Years, Reflecting Their Strong Commitment to this Location Tenant Required to Report Store Sales Annually Please Contact Listing Agent for More Details High Quality Construction Steel Framed with Concrete Block NNN LEASE MINIMAL LANDLORD RESPONSIBILITIES: Tenant Responsible for Roof, Parking Lot, and HVAC Landlord Responsibilities Limited to Slab & Structure Ideal, Management-Free Investment for an Out-Of-State, Passive Investor PROXIMITY TO MAJOR CITIES: Richmond, Virginia 25 Miles - 41 Minute Drive Charlottesville, Virginia 59 Miles - 1 Hour: 5 Minute Drive Washington, D.C. 137 Miles - 2 Hour: 35 Minute Drive TRADE AREA DEMOGRAPHICS: 1-Mile: 371 Residents $82,696 Average Household Income 3-Mile: 5,705 Residents $94,494 Average Household Income 5-Mile: 12,909 Residents $102,542 Average Household Income TENANT: Advance Auto Parts (NYSE: AAP) Features Investment Grade Credit BBB by Standard & Poor s 4,981 Stores as of October 6, 2018 Market Cap of $11.87 Billion Ranked #317 on the Fortune 500 List 6 INVESTMENT HIGHLIGHTS SRS NATIONAL NET LEASE GROUP.

7 PROPERTY OVERVIEW ACCESS S. Creek One:... 1 Access Point TRAFFIC COUNTS Anderson Highway/ U.S. Highway 60:... 27,000 VPD IMPROVEMENTS There is approximately 7,000 SF of existing building area. PARKING There are approximately 37 parking spaces on the owned parcel. The parking ratio is approximately 5.28 stalls per 1,000 SF of leasable area. PARCEL MAP YEAR BUILT PARCEL 2005 Parcel Number: 042E-1-2 Acres: 1.31 Square Feet: 57,064 ZONING Commercial General 7 PROPERTY OVERVIEW SRS NATIONAL NET LEASE GROUP.

8

9 Powhatan High School Flat Rock Elementary School S. Creek One Carter Gallier Blvd. U.S. Highway 60 27,000 CARS PER DAY

10 Carter Gallier Blvd. 27,000 CARS PER DAY S. Creek One U.S. Highway 60

11 S Creek One. U.S.Highway 60 27,000 CARS PER DAY

12 634 State Highway 4,800 CARS PER DAY 677 State Highway 613 State Highway Powhatan High School Carter Gallier Blvd. Flat Rock Elementary School S. Creek One. 27,000 CARS PER DAY U.S.Highway 60 3,300 CARS PER DAY

13 S. CREEK ONE ANDERSON HWY. - 27,000 VPD

14 CHARLOTTESVILLE 2018 ESTIMATED POPULATION 1 Mile Mile... 5,705 5 Mile... 12, AVERAGE HOUSEHOLD INCOME 1 Mile...$82,696 3 Mile...$94,494 5 Mile...$102, ESTIMATED TOTAL EMPLOYEES 1 Mile Mile... 3,080 5 Mile... 5,146 1 Hour 5 Min 59 Miles To Charlottesville POWHATAN 41 Minutes 25 Miles To Richmond RICHMOND

15 AREA OVERVIEW Powhatan, Virginia Powhatan is a census-designated place in and the county seat of Powhatan County, Virginia. Powhatan was initially known as Scottville (after Revolutionary war hero General Charles Scott) for a brief time, and historically has also been known as Powhatan Court House. It had a population of 472 as of July 1, Powhatan was established as a community in May 1777, but there were several buildings already in existence at that time. One of these locations is the Powhatan Plantation which was built in The plantation still exists today. The Shiloh Baptist Church in Powhatan features the mural The Lord over Jordan by Julien Binford, one of the artist s most famous works. Located in Virginia s Central Piedmont between the Appomattox and James Rivers, Powhatan is 20 miles west of Richmond, the Commonwealth s capitol city, and is within an easy 2-hour drive from the Atlantic Ocean, Washington, D.C., Colonial Williamsburg, and the Blue Ridge Mountains. Powhatan County is included in the Greater Richmond Region. The estimated population for 2017 was 28,601. Powhatan ranks as one of the fastest growing localities in Virginia. Top 10 major employers of Powhatan County are: Powhatan County School Board, Deep Meadow Correctional Center, Virginia Department of Juvenile Justice, Walmart, County of Powhatan, Food Lion, Mid Atlantic Steel Erecto Inc, Moslow Wood Products, Colony Construction and Catholic Diocese of Richmond. Powhatan County Public School District is composed of three elementary schools: Pocahontas Elementary, Powhatan Elementary, and Flat Rock Elementary. With a very quaint feel and small town charm, the Historic District of Powhatan Courthouse Village is the centerpiece for many annual activities and events including parades and festivals. The Village is on the National Register of Historic Places and features 55-year and older retirement village, Historic bed and breakfast inn, Historic homes, Office and commercial space and Restaurants. While maintaining a charming rural atmosphere, Powhatan s central location provides its residents with access to major cultural, recreational, educational and medical centers. 15 AREA OVERVIEW SRS NATIONAL NET LEASE GROUP.

16 AREA DEMOGRAPHICS DEMOGRAPHICS 1 MILE 3 MILES 5 MILES 2018 Population 371 5,705 12, Projected Population 389 6,026 13, Census Population 351 5,330 11,971 Projected Annual Growth 2018 to % 1.10% 1.31% Historical Annual Growth 2011 to % 0.83% 0.92% 2018 Households 148 2,158 4, Projected Households 155 2,276 5, Census Households 140 2,020 4,443 Projected Annual Growth 2018 to % 1.07% 1.30% Historical Annual Growth 2011 to % 0.80% 0.89% 2018 White 92.70% 91.80% 89.90% 2018 Black or African American 4.30% 4.70% 5.90% 2018 Asian or Pacific Islander 1.30% 1.00% 1.50% 2018 American Indian or Native Alaskan 0.30% 0.40% 0.30% 2018 Other Races 0.50% 0.80% 0.80% 2018 Hispanic 1.90% 2.60% 2.50% 2018 Average Household Income $82,696 $94,494 $102, Median Household Income $75,248 $80,240 $84, Per Capita Income $31,405 $35,713 $37, Total Businesses Total Employees 977 3,080 5, AREA DEMOGRAPHICS SRS NATIONAL NET LEASE GROUP.

17 RENT ROLL LEASE TERM RENTAL RATES TENANT NAME SQUARE FEET LEASE START LEASE END BEGIN INCREASE MONTHLY PSF ANNUALLY PSF RECOVERY TYPE OPTIONS Advance Auto Parts 7,000 6/14/ /31/2028 Current - $9,275 $1.32 $111,300 $15.90 NNN 3 (5-Year) (Corporate Guaranty) 5% Incr. at beg. of each option FINANCIAL INFORMATION Price:...$1,935,652 Net Operating Income:...$111,300 Cap Rate: % Lease Type:...NNN PROPERTY SPECIFICATIONS Year Built: Rentable Area:... 7,000 SF Land Area: Acres Address: S Creek One, Powhatan, VA RENT ROLL SRS NATIONAL NET LEASE GROUP.

18 BRAND PROFILE ADVANCE AUTO PARTS Advance Auto Parts, Inc. provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. As of October 6, 2018, Advance operated 4,981 stores and 139 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves approximately 1,229 independently owned Carquest branded stores across these locations in addition to Mexico and the Bahamas, Turks and Caicos, British Virgin Islands and Pacific Islands. Advance Auto Parts, Inc. was founded in 1929 and is headquartered in Roanoke, Virginia. Company Type:... Public (NYSE:AAP) 2017 Employees:... 40, Revenue:...$9.37 Billion 2017 Net Income:...$ Million 2017 Assets:...$8.48 Billion 2017 Equity:...$3.42 Billion Ranking:... #317 in FORTUNE BRAND PROFILE SRS NATIONAL NET LEASE GROUP.

19 SRS GLOBAL STATS 800+ PROPERTIES CURRENTLY REPRESENTED 600+ CLIENTS REPRESENTED IN 2017 $2.6B* TRANSACTION VALUE 20+ OFFICES *STATISTICS ARE FOR BROKERS, PROFESSIONALS, AND STAFF #1 LARGEST REAL ESTATE FIRM EXCLUSIVELY DEDICATED TO RETAIL SERVICES IN NORTH AMERICA This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.