Union Village Shopping Center

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Gordon Barker
6 years ago
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Not Subject properties Union Village Shopping Center 1008 W Roosevelt Blvd, Monroe, NC 28110 Price: $7,370,000

operating at this location for 15+ yrs Located on heavily trafficked W Roosevelt Blvd (US 74), traffic counts

1 Not Subject properties Union Village Shopping Center 1008 W Roosevelt Blvd, Monroe, NC Price: $7,370,000 NOI: $534,310 CAP: 7.25% EXCLUSIVE LISTING AGENT: Phone: Fax: dan@exp1031.com 70,000 +/- sf shopping center with national tenants & newly extended leases Most tenants have been open & operating at this location for 15+ yrs Located on heavily trafficked W Roosevelt Blvd (US 74), traffic counts of 49,800+ vpd Tenants in immediate area include McDonald s, Pizza Hut, Wendy's, Sonic, AutoZone, Captain D s & Aldi among other Charlotte is approximately 23 miles north west of the property Offered below replacement cost

Property Investment Line Overview Map PROPERTY OVERVIEW: EXP Realty Advisors exclusively presents for sale this 70,000 +/- s/f shopping center which is located in Monroe, NC.

In addition there is one vacancy offering an investor upside potential. TSC and Advance Auto have been tenants at this center for over 17 years; OfficeMax 15+ years and Aaron s for 10+ years.

TSC also elected to extend their lease last year while Aaron s is in their first option. Advance Auto is also in their option period. INVESTMENT SUMMARY Price: $7,370,000 CAP Rate: 7.

2 Property Investment Line Overview Map PROPERTY OVERVIEW: EXP Realty Advisors exclusively presents for sale this 70,000 +/- s/f shopping center which is located in Monroe, NC. The center is occupied by a mix of national tenants; Office Max, Tractor Supply Co (TSC), Aaron s Rent, and an Advance Auto (outlot). In addition there is one vacancy offering an investor upside potential. TSC and Advance Auto have been tenants at this center for over 17 years; OfficeMax 15+ years and Aaron s for 10+ years. OfficeMax s lease was set to expire in January 2015 but they had elected to extend their lease earlier this year (2014). TSC also elected to extend their lease last year while Aaron s is in their first option. Advance Auto is also in their option period. INVESTMENT SUMMARY Price: $7,370,000 CAP Rate: 7.25% The property is located on the heavily trafficked West Roosevelt Blvd (US 74), which is the main thoroughfare and receives over 49,800 vehicles per day. US 74 directly connects Monroe to Charlotte. The property is located less than 7 miles from the Charlotte-Monroe Executive Airport. Other tenants in the immediate area include Wendy's, Pizza Hut, McDonald's, Goodwill, Rent A Center, Rite Aid, Exxon, Dollar General, Citi Trends, Aldi, State Farm, Curves, Captain D's, and Sonic among others. The property is located on a Corridor which includes major restaurant and economy hotel chains, as well as shopping malls. LOCATION OVERVIEW: Monroe is a fast-growing city and the county seat in Union County, NC. Charlotte is approximately 23 miles north west of the property. Charlotte is the largest city in the state of North Carolina. The Charlotte metropolitan area ranks 23 rd largest in the U.S. and had a 2013 population of 2,335,358. The city is a major U.S. financial center, with both Bank of America and Wells Fargo's East Coast operations headquartered in the city. Charlotte's central location between the population centers of the northeast and southeast has made it a transportation focal point and primary distribution center. Subject property INVESTMENT OVERVIEW

3 Property Investment Line Overview Map Tenant Rentable s/f Original Occupancy Current Lease Expiration Date Options Rent PSF Annual Rent Lease Type Office Max 23,500 05/01/99 2/1/2000 to 1/31/ (5) yr - $.50 psf increase $ 9.50 $ 223,250 NNN Expressions Clothing 8,600 08/01/15 8/1/2015 to 7/31/2020 $2,400 per yr $ 5.33 $ 45,836 NNN Tractor Supply 22,720 01/01/97 1/1/2014 to 12/31/ (5) yr - 8% increase $ 6.75 $ 153,360 NNN Vacant 7,656 $ 8.00 $ 61,248 Advance Auto (outlot) 7,000 07/01/97 1/1/ /31/ (5) yr - 5% Triple Net $ $ 80,000 increase Ground Lease 69,476 $ 563,694 Annual Rent $ 563,694 Additional Income CAM Reimbursements $ 91,375 Gross Income $ 655,069 TSC and Advance Auto have been tenants at this center for over 17 years; OfficeMax 15+ years and Aaron s for 10+ years Expenses Management $ 16,911 3% RE Tax $ 64,212 Insurance $ 9,732 Ground Maintenantce $ 7,428 Repairs $ 5,508 Utilities $ 16,968 TOTAL $ 120,759 OfficeMax s lease was set to expire in January 2015 but had elected to extend their lease earlier this year (2014) TSC elected to extend their lease last year Advance Auto is in their option period NOI $ 534,310 INVESTMENT OVERVIEW

4 Investment Property Tenant Overview Line Overview Map OfficeMax, Inc. OfficeMax Incorporated is a leading provider of integrating products, solutions and services for the workplace, whether for business or at home. The company provides office supplies and paper, print and document services, technology products and solutions, and furniture to businesses and consumers. OfficeMax consumers and business customers are served by approximately 29,000 associates through OfficeMax.com; OfficeMaxWorkplace.com and Reliable.com; more than 900 stores in the U.S. and Mexico; and direct sales and catalogs. OfficeMax has been named one of the 2013 World's Most Ethical Companies, and is the only company in the office supply industry to receive Ethics Inside Certification by the Ethisphere Institute. Tractor Supply Company Tractor Supply Company (TSC) is a large retail chain of stores that offers a number of products for home improvement, agriculture, lawn and garden maintenance, and livestock, equine and pet care. It is a leading U.S. retailer in its market. Tractor Supply lists five major product categories. The livestock and pet products category accounted for 43 percent of the company's sales in The category with the second highest sales was hardware, tools, truck and towing products, with 23 percent of sales. Seasonal products such as lawn and garden equipment, gifts and toys were 20 percent of sales, followed by clothing and footwear with 9 percent and agricultural products with 5 percent of sales. Advance Auto Parts Advance Auto Parts, is headquartered in Roanoke, Virginia and is now the largest retailer of automotive replacement parts and accessories in the United States after acquiring CARQUEST in October AAP was founded in 1932 and had 2011 sales of approximately $6.2 billion. AAP operates over 3,800 stores in forty U.S. states and has over 55,000 employees. TENANT OVERVIEW

5 Area Property Aerial History Line Map Union County 49,815 ADT AERIAL

6 Property Location Line Map Map LOCATION MAP

Property Demographic Line Data Map Radius 3 Mile 5 Mile 10 Mile Population: 2019 Projection 28,517 46,850 138,548 2014 Estimate 26,645 43,881 129,111 2010 Census 25,464 42,288 122,263 Growth

Indian & Alaskan 418 546 1,034 Asian 247 437 1,635 Hawaiian & Pacific Island 40 49 98 Other 483 778 2,154 Households: 2019 Projection 9,592 16,191 47,077 2014 Estimate 8,959 15,163 43,840 2010 Census

7 Property Demographic Line Data Map Radius 3 Mile 5 Mile 10 Mile Population: 2019 Projection 28,517 46, , Estimate 26,645 43, , Census 25,464 42, ,263 Growth % 6.77% 7.31% Growth % 3.77% 5.60% 2014 Population Hispanic Origin 8,644 11,294 18, Population by Race: White 17,977 31, ,583 Black 7,481 10,266 19,606 Am. Indian & Alaskan ,034 Asian ,635 Hawaiian & Pacific Island Other ,154 Households: 2019 Projection 9,592 16,191 47, Estimate 8,959 15,163 43, Census 8,569 14,632 41,495 Growth % 6.78% 7.38% Growth % -1.51% 1.67% Owner Occupied 4,714 9,352 33,636 Renter Occupied 4,246 5,812 10, Avg Household Income $48,756 $53,249 $67, Med Household Income $35,189 $42,161 $53, Households by Household Inc: <$25,000 3,036 4,497 8,946 $25,000 - $50,000 2,725 4,370 11,643 $50,000 - $75,000 1,665 2,951 8,931 $75,000 - $100, ,797 6,537 $100,000 - $125, ,673 $125,000 - $150, ,404 $150,000 - $200, ,263 $200, ,445 Contact Us EXP Realty Advisors 118 East 28 th Street Suite #901 New York, NY Fax: (212) Our Team Daniel de Sa Director of Sales Phone: (212) dan@exp1031.com Robert P. James President DEMOGRAPHIC DATA

Winn Dixie new 20 year NNN lease

Subject Property Phone: 212.972.7457 Fax: 212.686.0078 exp@exp1031.com www.exp1031.com Exclusive Offering In Connection With: Winn Dixie new 20 year NNN lease 1625 West Tharpe Street - Tallahassee, FL