FOR SALE RENDON CAFÉ AND SELF STORAGE

Transcription

1 FOR SALE RENDON CAFÉ AND SELF STORAGE 4500 FM 1187 BURLESON, TX SALES PRICE $205,000 / ($29.29 PER SF) D A V I D HATCH BROKER ASSOCIATE CELL DIRECT David.Hatch@kwctexas.com PRESENTED BY: K EN W IMBERLY, CCIM MANAGING DIRECTOR CELL DIRECT Ken.Wimberly@kwctexas.com NOBLE CREST PROPERTY GROUP

2 TABLE OF CONTENTS I PROPERTY OVERVIEW Highlights Market Description Property Description Location Information Property Information Construction Details Parking Details Mechanical Information Property Photos II PROPERTY MAPS Location Maps Arial Maps III PROPERTY DATA Actual and Potential Financials STDB Traffic Count Map STDB Traffic Count Summary IV DEMOGRAPHIC ANALYSIS STDB Demographic Report 1mi, 3mi, 5mi radius V BROKERAGE DETAILS Broker Biography Information about Brokerage Services The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.

3 HIGHLIGHTS Great investment property with multi-income stream Minutes from I-35 Hwy 16,500 vehicles per day pass this location Immediate room for building more storage units Income from established café 1000 Gallon Grease Trap PROPERTY OVERVIEW MARKET DESCRIPTION As of January 2010, the number of people who call Burleson home hit the mark at 35,050. Burleson is appealing to many because of its easy proximity to the Metroplex, low taxes, a family oriented environment, and it s one of the fastest growing and desirable communities in the Metroplex. By 2011, Burleson is expected to have more than 290,000 residents within a 10-mile radius. FM 1187 corridor is a major connector road between Burleson and Fort Worth/Crowley/Mansfield. Traffic Counts are over 16,000 VPD with a major road expansion in progress. The past few years have seen an influx of flex space, restaurants, and other commercial uses along the FM 1187 Corridor. PROPERTY DESCRIPTION This self-storage property has been in operation since There are a variety of unit sizes with the option to build more. The current owner will include some of the building materials for the potential units. In addition to the storage units, the property has a popular hometown café that has been in business for over a decade. The café is a favorable place for the locals. This is a great investment with two streams of income that could generate a strong return in the future. The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.

4 PROPERTY OVERVIEW Location Information Parcel Number: County: Legal Description: Zoning: TBD Tarrant Part of Tract 37 A1B, Little Hiriam Survey, A930 County Intersection: Rendon Road Property Information Property Depth: 333 Property Frontage: 125 Acres: 1.20 Total Property SF: 52,272 Yard: Not Fenced Topography: Slopes to West Parcel Shape: Rectangular Construction Details Construction Status: Existing Year Built: 1998 Building Quality Class: Class C No. of Buildings 2 Building SF: 7000 Unit Configuration: Multi Tenant No. of Units: 36 No. of Stories: 1 No. of Grade Doors: Clear Height Min. Grade Door Size: 8 x 7 Clear Height Max. Parking Details Parking Type: Private No. of Parking Spaces: 10 Parking Description: Common Lot Mechanical Information Phase: Single Water: Yes - Bethesda Volts: 220 Water City Served: No Amps: Sewer: Yes / Aerobic Septic Electric: Yes Sprinklers: Heat Type: Gas Air Conditioning Type: Centralized The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.

5 PROPERTY OVERVIEW PROPERTY PHOTOS The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.

6 PROPERTY LOCATION PROPERTY MAPS The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.

7 PROPERTY LOCATION ARIAL MAPS The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.

8 PROPERTY DATA ACTUAL AND POTENTIAL FINANCIALS Actual Rent as of November 2010 Size Number of Units Occupied Vacant Occupancy Percent Per Unit Rent Scheduled Rent Actual Rent Storage Units 5X % $25 $125 $0 10X % $40 $440 $320 10x % $60 $660 $300 10x % $100 $800 $500 Café % $800 $800 $800 Total % $2,825 $1,920 Annual Income $33,900 $23,040 Potential Storage Units 10X % $80 $1,040 $ % Vacancy Rating with potential units Potential Income Stream $3,865 Monthly OR 46,380 Annually Potential Rental Income 33,900 Vacancy and credit losses Gross Operating Income 23,040 Operating Expenses Real Estate Taxes 3424 Electric 408 Utilities Insurance 910 Total Operating Expesnes 4742 NOI Without Fin/Before Tax 18,298 Billed to owner however tenant pays The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.

9 Traffic Count Map Ring: 1, 3, 5 Miles Source: 2010 MPSI Systems Inc. d.b.a. DataMetrix

10 Traffic Count Profile Ring: 5 miles radius Distance: Street: Closest Cross-street: Year of Count: Count: 0.15 Stephenson Levy Rd E Rendon Crowley Rd (0.06 miles S) , E Rendon Crowley Rd Redbird Ln (0.11 miles W) , Redbird Ln Mockingbird Rd (0.09 miles S) Stephenson Levy Rd E Rendon Crowley Rd (0.5 miles N) , Bill Levey E Rendon Crowley Rd (0.12 miles S) Timber Ridge Cir E Rendon Crowley Rd (0.28 miles NW) J Rendon Rd Shadowoak Dr (0.02 miles S) , Oak Grove Rendon Rd Mark Dr (0.44 miles W) Stephenson Levy Rd E Rendon Crowley Rd (0.75 miles S) , Carol's Ct (0.0 miles ) Lemons Rd (0.0 miles ) Willowood Dr (0.0 miles ) Rendon Bloodworth Rd Oak Trl (0.1 miles W) , Rendon Rd Little Rd (0.34 miles SE) , Highview Rd (0.0 miles ) Rendon Rd Little Rd (0.12 miles N) , Rendon Rd Ponderosa Ln (0.12 miles S) , Burleson Retta Rd Man O War Ct (0.01 miles E) , Oak Grove Rd S (0.0 miles ) , Center Ln Woodcrest Dr (0.09 miles N) Northern Dancer Dr John Henry Dr (0.08 miles E) Rendon Rd Ann Ln (0.3 miles SE) , Rendon Bloodworth Rd Oak Trl (0.51 miles W) , Oak Grove Rd S (0.0 miles ) , McPherson Rd Wild Oak Dr (1.3 miles W) Spring Oaks Rd Robindale Ln (0.16 miles SW) Rendon Bloodworth Rd Teague Rd (0.71 miles E) , Weeping Willow St Oak Grove Ln (0.11 miles W) Little Rd Rendon New Hope Rd (0.15 miles E) E Rendon Crowley Rd Bill Levey (1.31 miles E) ,400 Data Note:The Traffic Profile displays up to 25 of the closest available traffic counts within the largest radius around your site. The years of the counts in the database range from 2010 to Just over 66% of the counts were taken between 2001 and 2010 and 86% of the counts were taken in 1997 or later. Traffic counts are identified by the street on which they were recorded, along with the distance and direction to the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A traffic count is defined as the two-way Average Daily Traffic (ADT) that passes that location. Source: Copyright: 2010 MPSI Systems Inc. d.b.a. DataMetrix

11 Self Storage Express Pack Ring: 1, 3, 5 Miles 1 mile radius 3 miles radius 5 miles radius Population Annual Rate 2.1% 3.1% 3.45% Population Annual Rate 2.83% 2.8% 2.59% Total Population Area Total Population Area Total Population Area Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI converted 1990 Census data into 2000 geography. ESRI forecasts for 2010 and 2015.

12 Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2010 and Self Storage Express Pack Ring: 1, 3, 5 Miles 1 mile radius 3 miles radius 5 miles radius 2000 Population by Sex Males 48.7% 49.1% 49.0% Females 51.3% 50.9% 51.0% 2010 Population by Sex Males 48.8% 49.3% 49.1% Females 51.2% 50.7% 50.9% 2015 Population by Sex Males 48.7% 49.3% 49.2% Females 51.3% 50.7% 50.8% 2010 Population by Race Area 1 Area 2 Area Percent White Alone Black Alone Amer Indian Alone Asian/Pacific Alone Other Race Alone Two or More Races 2010 Hispanic Origin 11.0% 15.1% 17.4% 2010 Population 15+ by Marital Status Area 1 Area 2 Area 3 Percent Never Married Married Widowed Divorced Data Note: Persons of Hispanic Origin may be of any race

13 Self Storage Express Pack Ring: 1, 3, 5 Miles 1 mile radius 3 miles radius 5 miles radius 2000 Population by Age Total 1,697 11,200 44, % 5.9% 7.2% % 7.2% 8.1% % 8.4% 8.8% % 7.0% 7.6% % 4.2% 5.1% % 10.2% 12.5% % 17.7% 17.4% % 14.6% 13.7% % 11.4% 9.4% % 7.1% 6.1% % 4.2% 3.1% % 2.2% 1.1% 2010 Population by Age Total 2,049 14,862 60, % 6.0% 7.2% % 6.5% 7.4% % 6.7% 7.4% % 6.8% 7.3% % 5.0% 5.8% % 10.5% 12.3% % 12.4% 13.3% % 17.1% 15.8% % 13.5% 11.8% % 8.7% 6.8% % 4.7% 3.6% % 2.1% 1.3% 2015 Population by Age Total 2,357 17,059 68, % 5.8% 7.0% % 6.3% 7.3% % 7.0% 7.7% % 6.3% 6.8% % 4.9% 5.6% % 10.9% 12.7% % 12.0% 12.8% % 14.6% 14.0% % 14.9% 12.9% % 10.1% 8.1% % 5.1% 3.7% % 2.0% 1.3% Median Age Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2010 and 2015.

14 Self Storage Express Pack Ring: 1, 3, 5 Miles 1 mile radius 3 miles radius 5 miles radius Civilian Employed Population 16+ Annual Rate 1.4% 1.93% 2.47% Civilian Employed Population 16+ Annual Rate 2.83% 2.81% 2.63% Total Civilian Employed Population 16+ Area Total Civilian Employed Population 16+ Area Total Civilian Employed Population 16+ Area Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI converted 1990 Census data into 2000 geography. ESRI forecasts for 2010 and 2015.

15 Self Storage Express Pack Ring: 1, 3, 5 Miles 2010 Employed Civilian Population 16+ by Industry Area 1 Area 2 Area 3 1 mile radius 3 miles radius 5 miles radius Percent Agriculture, Forestry, Fishing, and Hunting Mining Construction Manufacturing Wholesale Trade Retail Trade Transportation/Warehousing Utilities Information Finance/Insurance Real Estate/Rental/Leasing Professional, Scientific, and Technical Services Management of Companies/Enterprises Admin., Support, and Waste Mgmt. Services Educational Services Health Care/Social Assistance Arts/Entertainment/Recreation Accommodation/Food Services Other Services Public Administration Data Note: Industry descriptions based on 2000 Census of Population and Housing definitions. Source: ESRI forecasts for 2010.

16 Self Storage Express Pack Ring: 1, 3, 5 Miles Population by Industry Annual Rate Area 1 Area 2 Area 3 1 mile radius 3 miles radius 5 miles radius Percent Agriculture, Forestry, Fishing, and Hunting Mining Construction Manufacturing Wholesale Trade Retail Trade Transportation/Warehousing Utilities Information Finance/Insurance Real Estate/Rental/Leasing Professional, Scientific, and Technical Services Management of Companies/Enterprises Admin., Support, and Waste Mgmt. Services Educational Services Health Care/Social Assistance Arts/Entertainment/Recreation Accommodation/Food Services Other Services Public Administration Data Note: Industry descriptions based on 2000 Census of Population and Housing definitions. Source: ESRI forecasts for 2010.

17 Self Storage Express Pack Ring: 1, 3, 5 Miles 1 mile radius 3 miles radius 5 miles radius Households Annual Rate 2.17% 3.19% 3.45% Households Annual Rate 2.84% 2.85% 2.62% Total Households Area Total Households Area Total Households Area Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI converted 1990 Census data into 2000 geography. ESRI forecasts for 2010 and 2015.

18 Self Storage Express Pack Ring: 1, 3, 5 Miles 2010 Household Income Area 1 Area 2 Area 3 1 mile radius 3 miles radius 5 miles radius Percent <$15, $15,000 - $19, $20,000 - $24, $25,000 - $29, $30,000 - $34, $35,000 - $39, $40,000 - $44, $45,000 - $49, $50,000 - $59, $60,000 - $74, $75,000 - $99, $100,000 - $124, $125,000 - $149, $150,000 - $199, $200,000 - $249, $250,000 - $499, $500, Median Household Income 2000 $64,897 $50,650 $48, $75,210 $60,000 $61, $83,434 $69,868 $68, Median Household Income Annual Rate 1.61% 1.85% 2.47% Median Household Income Annual Rate 2.1% 3.09% 2.15% 2010 Median Net Worth $268,177 $169,354 $151,430 Data Note: Detail may not sum to totals due to rounding. Income represents annual income for the preceding year. Income for 2010 and 2015 is expressed in current dollars, including an adjustment for inflation. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2010 and 2015.

19 Self Storage Express Pack Ring: 1, 3, 5 Miles 1 mile radius 3 miles radius 5 miles radius 2000 Households by Type Total 578 4,032 15,492 Family Households 84.8% 78.8% 79.1% Married-couple Family 73.5% 66.4% 62.9% With Related Children 32.5% 30.1% 32.2% Other Family (No Spouse) 11.2% 12.5% 16.2% With Related Children 8.0% 8.4% 11.4% Nonfamily Households 15.2% 21.2% 20.9% Householder Living Alone 12.5% 17.5% 17.4% Householder Not Living Alone 2.8% 3.7% 3.6% 2000 Housing Units 599 4,236 16,137 Owner Occupied Housing Units 87.5% 80.2% 77.2% Renter Occupied Housing Units 9.0% 15.0% 18.8% Vacant Housing Units 3.5% 4.8% 4.0% 2010 Housing Units 729 5,718 22,496 Owner Occupied Housing Units 81.9% 73.9% 71.6% Renter Occupied Housing Units 14.8% 20.3% 22.6% Vacant Housing Units 3.3% 5.8% 5.7% 2015 Housing Units 840 6,580 25,612 Owner Occupied Housing Units 81.2% 73.0% 71.1% Renter Occupied Housing Units 15.3% 21.3% 23.1% Vacant Housing Units 3.4% 5.8% 5.8% 2010 Housing Units Area 1 Area 2 Area Percent Owner Occupied Renter Occupied Vacant Median Home Value 2000 $109,762 $96,622 $79, $123,636 $108,921 $96, $139,106 $121,936 $110,519 Data Note: Detail may not sum to totals due to rounding. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2010 and 2015.

20 K W, CCIM Managing Director Office: Mobile: Kenneth F. Wimberly serves as Managing Director for KW Commercial (Noble Crest Property Group), specializing in investment sales with a strong background in land sales, lot sales and acquisi on, syndica ons, site selec- on, bank REO s, and buyer/tenant representa on. His clients include commercial developers, residen al developers, homebuilders, banks, and private investors. Prior to joining KW Commercial, Wimberly served as a Senior Advisor at Sperry Van Ness. He is founder and president of a real estate investment firm, Noble Crest Capital, Inc. (NCC), and previously served as an agent for Ri er and Associates Real Estate, specializing in land sales. Wimberly served his country as an aircrew member flying aboard EP-3E aircra as a CTR (cryptologist technician Morse code) for the United States Navy, sta oned in Misawa, Japan. He has also worked in the insurance/investment field and has held the Series 6, Series 7, and Series 63 investment licenses and the Group I insurance license. He received his CCIM designa on in 2010 and is currently pursuing his ALC (Accredited Land Counselor) designa on. Wimberly is a member of the Greater Fort Worth Associa on of Realtors, the Texas Associa on of Realtors, and the Society of Commercial Realtors. Addi- onally, he served as the 2008 Chairman of the Board of Directors for the Society of Commercial Realtors in Fort Worth. He currently serves on the RCA/Governing Council of the Texas Associa on of Realtors. He is ac ve in his community and volunteers his me as a Big in the Big Brothers/Big Sisters program. He has two children, Knox, age 6 and Grace, age 8. D H Broker Associate Office: Mobile: David.Hatch@kwctexas.com David P. Hatch joined KW Commercial NCPG to head the Marke ng and Disposi on Services Department. He is a licensed real estate broker and is currently a ending the University of Texas at Arlington pursuing a Master s Degree in Real Estate Development. Prior to joining KW Commercial NCPG, David was a top producer in leasing and tenant representa on in the Greater Central Texas area. David honorably served his country aboard the USS Mitscher DDG 57 as an OS2 (Opera on Specialist 2nd Class). A er four years in the US Navy, David began a career in the fitness industry as a cer fied personal trainer in The knowledge he took from the corporate fitness industry led him to start his own training business in David graduated with honors from Texas State University in San Marcos. His educa onal focus was in business marke ng and entrepreneurial studies.

21 INFORMATION ABOUT BROKERAGE SERVICES B efore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner's agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer's agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly. IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner's agent by entering into an agreement with the owner, usually through a written listing agreement, or by agreeing to act as a subagent by accepting an offer of sub agency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner's agent anything the buyer would not want the owner to know because an owner's agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer's agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer's agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer's agent anything the owner would not want the buyer to know because a buyer's agent must disclose to the buyer any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer's agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer's agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer's agent anything the owner would not want the buyer to know because a buyer's agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with the The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) Shall treat all parties honestly; (2) May not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) May not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) May not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License act or a court order or if the information materially relates to the condition of the property. With the parties' consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under the Act and associated with the broker to communicate with and carry out instructions of the other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker's obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding. Broker asks that you acknowledge receipt of this information about brokerage services for the broker s records. Property: Rendon Cafe and Self Storage FM 1187, Burleson, TX In this transaction, KW Commercial is: agent for Seller or Landlord only; agent for Buyer or Tenant only or; an intermediary Seller or Landlord Date Buyer or Tenant Date