131 E MAIN BLVD CHURCH HILL, TN Kevin King BRE# Managing Director CalDRE #

Transcription

1 131 E MAIN BLVD CHURCH HILL, TN Kevin King BRE# Managing Director kevin.king@svn.com CalDRE # SVN KING PROPERTIES 890 MONTEREY ST., SUITE I, SAN LUIS OBISPO, CA OFFERING MEMORANDUM

2 PROPERTY INFORMATION 3 Property Summary Additional Photos LOCATION INFORMATION 6 Regional Map Location Maps Aerial Map Additional Photos FINANCIAL ANALYSIS 11 Financial Summary Income & Expenses Rent Roll DEMOGRAPHICS 15 Demographics Report Demographics Map ADVISOR BIOS 18 Advisor Bio & Contact E MAIN BLVD, CHURCH HILL, TN OFFERING MEMORANDUM

3 1 PROPERTY INFORMATION 131 E Main Blvd Church Hill, TN E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 3

4 Property Summary OFFERING SUMMARY Sale Price: $565,000 Cap Rate: 7.64% NOI: $43,170 Lot Size: 0.95 Acres Year Built: 1960 PROPERTY OVERVIEW The property is a 4,914 square foot, one story, single tenant U.S. Postal Facility that provides a solid long term investment with a stable high credit tenant. Great investment leased by the USPS, huge parking lot and parcel has plenty of room for expansion if ever needed. Taxes, utilities, and interior maintenance are USPS's responsibility. The property is leased through February 1, 2020 and USPS has executed a 5-year renewal option that extends through May 31, PROPERTY HIGHLIGHTS USPS Leased Facility - High Return High Level Post Office (Level 20) 12 Routes and 1,300 PO Rental Boxes One story brick/block building. Interior recently painted. Good stable city, population, and location, great demographics for very long term duration for USPS. Building Size: 5,143 SF Based on financing available deal provides an 11.37% cash on cash return and a handsome IRR of 23.77%. Price / SF: $ E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 4

5 Additional Photos 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 5

6 2 LOCATION INFORMATION 131 E Main Blvd Church Hill, TN E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 6

7 Regional Map 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 7

8 Location Maps 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 8

9 Aerial Map 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 9

10 Additional Photos 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 10

11 3 FINANCIAL ANALYSIS 131 E Main Blvd Church Hill, TN E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 11

12 Financial Summary INVESTMENT OVERVIEW Price $565,000 Price per SF $ CAP Rate 7.6% Cash-on-Cash Return (yr 1) % Total Return (yr 1) 23.71% Debt Coverage Ratio 1.42 OPERATING DATA Gross Scheduled Income $46,880 Other Income - Total Scheduled Income $46,880 Vacancy Cost $46,880 Gross Income - Operating Expenses $3,710 Net Operating Income $43,170 Pre-Tax Cash Flow $12,848 FINANCING DATA Down Payment $113,300 Loan Amount $452,000 Debt Service $30,322 Debt Service Monthly $2,527 Principal Reduction (yr 1) $6, E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 12

13 Income & Expenses EXPENSE SUMMARY PER SF Maintenance and Reserves $2,457 $0.48 Insurance $1,253 $0.24 Gross Expenses $3,710 $ E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 13

14 Rent Roll TENANT UNIT LEASE LEASE LEASE ANNUAL % OF NAME SIZE (SF) START END START RENT GLA U.S. Postal Servic 4,914 2/1/15 1/31/25 Current $46, Totals/Averages 4,914 $46, E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 14

15 4 DEMOGRAPHICS 131 E Main Blvd Church Hill, TN E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 15

16 Demographics Report 1 MILE 5 MILES 10 MILES Total population 1,769 16,706 61,792 Median age Median age (male) Median age (female) Total households 836 7,216 26,572 Total persons per HH Average HH income $47,171 $50,826 $51,190 Average house value $109,584 $109,059 $147,988 * Demographic data derived from 2010 US Census 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 16

17 Demographics Map POPULATION 1 MILE 5 MILES 10 MILES Total population 1,769 16,706 61,792 Median age Median age (male) Median age (Female) MILE 5 MILES 10 MILES 836 7,216 26,572 # of persons per HH Average HH income $47,171 $50,826 $51,190 $109,584 $109,059 $147,988 HOUSEHOLDS & INCOME Total households Average house value * Demographic data derived from 2010 US Census 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 17

18 5 ADVISOR BIOS 131 E Main Blvd Church Hill, TN E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 18

19 Advisor Bio & Contact 1 KEVIN KING BRE# Managing Director 890 Monterey St. Suite I San Luis Obispo, CA T C kevin.king@svn.com CalDRE # WA #12951 PROFESSIONAL BACKGROUND Kevin King serves as a Managing Director and Senior Advisor for SVN/KIng Properties specializing in the sale of multifamily and retail properties in the San Luis Obispo County and northern Santa Barbara County, California areas, in addition to Single Tenant Net Leased Properties and U.S. Post Office leased buildings nationwide. With more than 27 years of real estate experience, King has secured more than 800 transactions resulting in a career sales volume in excess of $1 Billion. Since affiliating with SVN in 2003 King has consistently finished yearly as one of the Top 20 Advisors out of approximately 1,600 highly experienced commercial brokers nationwide. Prior to joining SVN, King served as president of his own commercial real estate company. King focuses primarily on multifamily,net leased properties, and buildings leased by the US Postal Service. He has been involved with a majority of the multifamily transactions in the mid to large size range in the San Luis Obispo area. King is an active member of the commercial real estate community as a member of the International Council of Shopping Centers, Association of United States Postal Lessors, National Association of Realtors, California Association of Realtors, San Luis Obispo Association of Realtors, and the Central Coast Regional Multiple Listing Service. He received a Bachelor of Science Degree in Business Communications from Eastern Washington University, Cheney, WA. 131 E MAIN BLVD CHURCH HILL, TN SVN King Properties Page 19