7-Eleven (LUCKY STAR MARKET) PHILADELPHIA, PENNSYLVANIA 7329 ELMWOOD AVENUE OFFERING MEMORANDUM

Transcription

1 (LUCKY STAR MARKET) PHILADELPHIA, PENNSYLVANIA 7329 ELMWOOD AVENUE OFFERING MEMORANDUM

2 (LUCKY STAR MARKET) PHILADELPHIA, PENNSYLVANIA Exclusively Listed by MORGAN McMULLIN calbre# Partners Trust/Pacific Union fully supports the principles of the Fair Housing Act and Equal Opportunity Act, and does not guarantee the accuracy of square footage, lot size, or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. PUI License #

3 TABLE OF CONTENTS ABOUT MORGAN... THE OFFERING... PROPERTY OVERVIEW... AERIAL VIEW... AREA MAP... FINANCIAL BREAKDOWN... AREA/MARKET OVERVIEW... TENANT PROFILE 7329 ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 3

4 Morgan McMullin Senior Vice President calbre# Morgan McMullin, a commercial real estate veteran, has successfully brokered investment transactions in excess of $330 million over the past decade. Formerly a Vice President with Investment Real Estate Associates, Morgan joined Partners Trust Commercial in Specializing in the sale and acquisition of multifamily and commercial properties, he has helped his clients reach, and often exceed, their long-term and short-term investment objectives. Morgan values his client relationships, which leads him to successfully represent his clients interests and become their trusted investment advisor. Having brokered transactions through the boom and bust cycles, he has developed a deep working knowledge of the Los Angeles real estate marketplace. He has built his business and track record on superior market knowledge and an excellent work ethic while still holding himself to the highest standard of integrity. As an owner and manager of investment properties throughout Los Angeles, Morgan understands the nuances, concerns, and issues commonplace amongst investment property owners and investors. This hands-on approach keeps him current on market conditions, allowing him to achieve above market prices for his clients. Morgan lives in the Rancho Park neighborhood of West LA with his wife, Maryam and two kids, Nika and Kian ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 4

5 A COMMITMENT TO YOU WHAT WE ARE. First, and foremost, Partners Trust is a Los Angeles-based real estate brokerage that leverages our global network, media savvy and command of the market to provide our clients with a discreet and peerless level of real estate services. We are a select group of the finest, principled and reputable agents in the market. We are distinguished in the marketplace by our emphatic sales volume, and reputed for our integrity, market intelligence and a genuine connection to our communities. We are proud of these accomplishments. We work diligently everyday to maintain them. This is what we are. WHO WE ARE. What a company is should be driven by who they are at the core and what they believe in that drives them to do what they do. In this regard, Partners Trust is a group of professionals that believe in the sanctity of real estate ownership and the inalienable right everyone has to own real estate. To support our beliefs, we create optimum conditions required to provide the deepest level of regard, respect, care, empathy, commitment and services possible to buyers, sellers, our associates and our competitors. We are people who care about the lives, the careers, the families, the financial securities and the peace of mind for everyone we touch ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 5

6 THE OFFERING CORPORATE 7-ELEVEN - OPERATED AS LUCKY STAR FOOD MARKET The subject property is a very well located corporate absolute triple net leased 7-Eleven (operated as Lucky Star Food Market) located at the five point junction of Island Ave., Elmwood Ave. and Passyunk Ave. in Southwest Philadelphia, PA less than 2 miles from Philadelphia International Airport (PHL). A number of SEPTA Subway-Surface Trolley Lines traverse the area along Chester, Woodland, and Elmwood Avenues, providing easy access to Center City through the 40th Street Portal. These also extend to Darby and Yeadon. Southwest Philly is served by 4 of the 5 Subway-Surface Lines (Trolleys) 11, 13, 34, and 36. It is also served by bus routes 12, 37, 52, 64, 108, G, and also with the Airport and Media/Elwyn Regional Rail lines ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 6 Partners Trust/Pacific Union fully supports the principles of the Fair Housing Act and Equal Opportunity Act, and does not guarantee the accuracy of square footage, lot size, or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. PUI License #

7 PROPERTY OVERVIEW 7329 Elmwood Avenue, Philadelphia, PA PRICE $750,000 PROPERTY TYPE Single Tenant Absolute NNN CORPORATE LEASE Yes YEAR BUILT 1970 BUILDING SIZE 2,568 SQ. FT. LOT SIZE 5,379 SQ. FT. PRICE PER SQ. FT. $ CAP RATE 7.04% YEARS LEFT ON LEASE 5 Years + One 5 Year Option LEASE COMMENCEMENT 06/30/1983 PROPERTY HIGHLIGHTS 35+ Years at this Location Strong Store Sales Reported Rent-to-Sales Average 5.81% over 5 Years Sales per SF Average $357 over 5 Years Tenant Currently Paying $20.57/SF/YR High Visibility Hard Corner at a Five Point Intersection Densely Populated Neighborhood 7329 ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 7 Partners Trust/Pacific Union fully supports the principles of the Fair Housing Act and Equal Opportunity Act, and does not guarantee the accuracy of square footage, lot size, or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. PUI License #

8 AERIAL 7-Eleven 7329 ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 8

9 MAP 7-Eleven 7329 ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 9

10 FINANCIAL BREAKDOWN 7-Eleven 7329 ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 10 Partners Trust/Pacific Union fully supports the principles of the Fair Housing Act and Equal Opportunity Act, and does not guarantee the accuracy of square footage, lot size, or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. PUI License #

11 AREA/MARKET OVERVIEW PHILADELPHIA Southwest Philadelphia (formerly Kingsessing Township) is a section of Philadelphia, Pennsylvania, United States. The section can be described as extending from the western side of the Schuylkill River to the city line, with the SEPTA. The northern border is defined by the Philadelphia City Planning Commission as east from the city line along Baltimore Avenue moving south along 51st Street to Springfield Ave. It follows the train tracks until 49th Street. From 49th and Kingsessing Ave the line moves east along Kingsessing Ave. The line then moves south along 46th St to Paschall Ave where it jogs to join Grays Ferry where the line runs to the Schuylkill River. Southwest Philadelphia is also described by the city as being the area south of Baltimore Avenue; this definition has historical merit as Baltimore Avenue between 49th and 52nd Streets was known as The Hub of Southwest Philadelphia at the turn of the 20th century. The Philadelphia Police Department patrols two districts located within Southwest Philadelphia. The two patrol districts serving Southwest Philadelphia are the 12th and 77th districts. Historically home to many Irish American neighborhoods, the section now has a large African American population. Philadelphia Pennsylvania Sq. Mi. Land Area 123,829 Total Population (within 5 mile radius) $38,303 Median Household Income 7329 ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 11

12 TENANT PROFILE 7-ELEVEN 7-Eleven is an American-Japanese international chain of convenience stores, headquartered in Irving, Texas, that operates, franchises, and licenses some 56,600 stores in 18 countries and 45,000 employees. The chain was known as Tote m Stores until renamed in Its parent company, Seven-Eleven Japan Co., Ltd., is located in Chiyoda, Tokyo. Seven-Eleven Japan is held by the Seven & I Holdings Co. The 7-Eleven brand is known and loved around the world, and our iconic products are a big part of the American culture. And although we ve grown significantly over the years, our focus stays fixed on making life easier for customers. This simple idea is the reason we re the marketplace leader. It s also why our customers, employees, Franchisees and community leaders are proud to be part of the 7-Eleven story ELMWOOD AVENUE PRESENTED BY MORGAN MCMULLIN 12

13 PARTNERS TRUST 9378 Wilshire Boulevard, Suite 200 Beverly Hills, CA PARTNERSTRUST.COM Exclusively Listed by MORGAN McMULLIN License # Partners Trust/Pacific Union fully supports the principles of the Fair Housing Act and Equal Opportunity Act, and does not guarantee the accuracy of square footage, lot size, or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. PUI License #