COMMERCIAL PROPERTIES 550 N. POPLAR STREET CASPER, WY (307) E. 2ND ST. CASPER, WY $1,667,780 BROKER1REALESTATE.

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1 COMMERCIAL PROPERTIES 550 N. POPLAR STREET CASPER, WY (307) E. 2ND ST. CASPER, WY $1,667,780

2 LANDMARK DR TABLE OF CONTENTS SUBJECT EXECUTIVE SUMMARY 3 CITY AERIALS 4 CITY AERIAL 4 PROPERTY LOCATION 5 PROPERTY 6 PROPERTY FEATURES 7 SUBJECT AREA 7 SITE DATA 7 DESCRIPTION OF INVESTMENT 7 ENVIRONMENTAL 8 PURCHASE PRICE 8 PROPERTY PHOTOS 9 REGIONAL SERVICE 10 CASPER 10 WYOMING 11 BROKER ONE COMMERCIAL TEAM 12 RANDALL S. HALL, CCIM 13 DENNIS BAKER, ASSOCIATE BROKER 13 2

3 LANDMARK DR EXECUTIVE SUMMARY Fully Leased, Single Tenant Property Available for Sale! BrokerOne Real Estate is pleased to offer for sale, the corporately guaranteed, single tenant, net leased property located at 4910 E. 2nd St., in Casper, WY. The subject building, occupied by Chipotle Mexican Grill, is operating on a NNN lease, with 14+ years of primary term remaining. SUBJECT The ±2,266 SF restaurant is located on East 2nd Street, one of Casper s main thoroughfares, and is situated near several large traffic drivers, including the Eastridge Mall, Home Depot, Target, Walmart, Macy s, JCPenney, and Sears. The NNN lease requires minimal management responsibilities, pertaining only to structural elements of the brand new building, allowing for a truly passive investment opportunity. ADDRESS 4910 E. 2ND ST. TOTAL LAND AREA ±0.49 ACRE LOCATION NATRONA COUNTY YEAR(S) BUILT 2016 TOTAL BUILDING AREA ±2,266 SQ FT OFFERED PRICE $1,667,

4 LANDMARK DR CITY AERIAL SUBJECT SUBJECT 4

5 PROPERTY LOCATION 5

6 LANDMARK DR PROPERTY SUBJECT SE WYOMING BLVD NEWPORT RD BLACKMORE RD 6

7 PROPERTY FEATURES SUBJECT AREA The property is conveniently located at the signalized intersection of Landmark Drive and East 2nd Street, one of Casper s busiest roads, and in close proximity to numerous large traffic drivers, including Home Depot, Sam s Club, Walmart, Eastridge Mall, Target, Macy s, StudioCity Stadium 10 Theatre, Sears, JCPenney, and others. The subject is 0.5 mile from the E. 2nd Street/S.E. Wyoming Blvd. intersection, and 0.8 mile to the I-25 interchange. SITE DATA The site is ±0.49 acre (±21,344.4 SF) and currently zoned C2: General Business. The topography of the subject property is generally flat. Access to the property is off of E. 2nd St., at the Landmark Drive intersection. There are approximately 27 parking spaces (11.9/1,000 SF). REAL PROPERTY TAXES FOR THE YEAR: 2017 PARCEL ID DESCRIPTION TOTAL LAND AREA TOTAL BUILDING AREA ESTIMATED TOTAL TAX LUKER LANDMARK ADDITION, BLOCK 1, LOT 2 21,344.4 SQ FT 2,006 SQ FT $2, DESCRIPTION OF INVESTMENT ±0.19 Acre Site with ±2,266 SF Building Single Tenant NNN Fee-Simple Lease Brand New Construction (2016) Corporately Guaranteed Lease Lessee is Chipotle Mexican Grill, Inc. Located in Major Retail Corridor 10% Base Rent Increase in Year 11 of Lease 14+ Years Remaining on Primary Lease Term 7

8 PROPERTY FEATURES DESCRIPTION OF INVESTMENT Continued CAP Rate: 5.00% In-Place NOI: $83,389 Extension Options: Four (4) 5-Year Options with 6 Months Notice The tenant is responsible for all operating and maintenance costs, including but not limited to: trash, landscaping, parking lot maintenance, roof maintenance and replacement, utilities, HVAC, interior and exterior windows, and all lighting and electrical systems. The tenant is also responsible for maintaining a policy of commercial general liability insurance. ENVIRONMENTAL No representation is made nor implied by BrokerOne Real Estate as to the presence, at any location on the property, of any known hazardous material as defined by the United States Environmental Protection Agency or the Wyoming Department of Environmental Quality. A prospective purchaser should retain the services of independent professionals qualified to render opinions and/or determinations as to the presence of hazardous materials. PURCHASE PRICE The offered price is $1,667,780. The information contained herein has been obtained from sources we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. 8

9 PROPERTY PHOTOS 9

10 REGIONAL SERVICE: CASPER CASPER Casper, Wyoming is one of the most outstanding communities in the Rocky Mountain region. Casper has the amenities of a metro area with the convenience and accessibility of a smaller community. As the 2nd largest metropolitan area in Wyoming, and located within Natrona County, Casper has diverse outdoor recreation opportunities within a 20 minute drive and the best variety of indoor recreation within a 10 minute drive. From downhill skiing to Broadway shows, Casper offers it all. Casper cradles a broad industry base built around natural resources and expanding to manufacturers who desire low overhead with a central western presence. Available business parks offer locations that put business close to suppliers, customers and transportation hubs. The Casper economy continues to thrive. Companies are opening new facilities in the Casper area, while established industries Through Wyoming s only International Airport Via enhanced freight routes along I-25 Superior rail yard, routes and service on BNSF The ability to get goods and services to more markets makes Casper businesses more efficient and more profitable. As one of the fastest growing economic centers in the western United States, it is known for its probusiness attitude, and pro-industry growth. Its location and business community drives the need for FedEx and UPS to service a regional hub out of the Casper/Natrona County International Airport. In the last 10 years, Casper has been experiencing a huge economic boom and its economy has continued to grow despite the national economic downturn. Forbes Magazine rated Casper, Wyoming (July 2014) as one of the Best Small Places for Business and Careers, with a median household income of $54,237, Unemployment 3.7%, and Cost of Living 5.0% below national average. The development of coal and uranium fields in recent decades has helped Casper continue its role as a center in the energy industry. Casper s 2015 Square Miles (Natrona County).. 5,369 Elevation (City of Casper) 5,125 ft. With a new trans-load facility Via unsurpassed telecommunications capabilities 10

11 REGIONAL SERVICE: CASPER & WYOMING CASPER LIFESTYLE Casper, Wyoming has something for everyone, offering all the advantages of a bigger city and serving as a central hub for Wyoming. Casper is rich in the arts with several theater groups, the Wyoming Symphony Orchestra, concerts, festivals, and museums. The Casper community is very proud to include the National Historic Trails Interpretive Center as one of its major attractions. The Interpretive Center displays exhibits of the pioneer days on the Oregon, California, Mormon and Pony Express Trails. The Casper Events Center, with a seating capacity of 10,000, is another major attraction that offers many entertainment opportunities. Casper is host to the College National Finals Rodeo in June, concerts, off Broadway plays, and a plethora of other family entertainment at the Events Center. Casper is also a wonderful place for indoor and outdoor sports. The Three Crowns golf course is a new 18-hole championship course a terrific addition to Casper's existing three golf courses. Outdoor recreation on the North Platte River offers fishing, rafting, and kayaking. Several lakes are just a short distance away for boating, swimming, fishing, and camping. Winter skiing & snowboarding are enjoyed on Casper Mountain. Casper's central location has made the city a focal point for regional, WYOMING Wyoming leads the nation in coal production (1st), uranium (1st), natural gas (3rd) and crude oil (7th). With over 40% of Americas low-sulphur coal coming from Wyoming mines, the coal industry continues to remain strong, and with export of Wyoming s coal to other nations, coal remains a solid energy source. In addition, Wyoming is also ranked the leader in uranium production. With recent advances in uranium mining (in-situ), Wyoming produced 2.9 million pounds of yellow cake which was processed at surface locations throughout the state in This precious mineral is used throughout the world for energy production. The recent exploration and increased production in the northeast, central, and western parts of Wyoming, has expanded production levels that are projected to continue to rise for many years to come. Wyoming has 22 of the 23 counties producing natural gas and oil. Recorded sales were over 2,000 trillion cubic feet of natural gas in 2013 and 75.6 million barrels of crude oil 11

12 BROKER ONE COMMERCIAL TEAM The BrokerOne Real Estate Commercial Team, led by Randall S. Hall, CCIM, has ranked #1 in Total Sales Volume by the Wyoming Business Report for 10 of the past 11 years and #1 in Total Sales Volume Per Agent for 11 years, straight! With almost 45 years of combined commercial sales and leasing experience, our team has the knowledge and commitment to meet your commercial real estate needs. 12

13 BROKER ONE COMMERCIAL TEAM 31+ Years Commercial Experience Large Referral Network Dedicated, Diversified & Knowledgeable 12+ Years Real Estate Experience 26 Years Commercial Banking Committed, Detailed & Client Oriented RANDALL S. HALL, CCIM Principle Broker Randy Hall has represented or facilitated transactions with an extraordinary number of national and regional companies. He is a full-time commercial broker experienced in almost every aspect of commercial and investment real estate brokerage and holds the highly-respected designation of Certified Commercial Investment Member (CCIM) from the CCIM Institute. Randy is past president of the Wyoming Association of REALTORS, past member of Casper Planning & Zoning and current member of the Wyoming Real Estate Commission. DENNIS BAKER Associate Broker Experience counts. With over 12+ years of real estate experience, Dennis Baker brings unique expertise, proficiency and insight to BrokerOne. He is a seasoned expert in commercial real estate and real estate lending practices. His keen knowledge and understanding about cash flow analysis, loan structures and debt analysis have proven invaluable to clients during negotiations. Dennis is dedicated to building strong and lasting relationships in the real estate industry and the community. 13