RV Park N Conway, Mission Tx. OFFERING MEMORANDUM. Investment Advisor

Transcription

1 OFFERING MEMORANDUM 3131 N Conway, Mission Tx.

2 OFFERING MEMORANDUM Confidentiality & Disclaimer Confidentiality Agreement The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from REMAX Associates and it should not be made available to any other person or entity without the written consent of REMAX Associates. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to REMAX Associates. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. REMAX Associates has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, REMAX Associates has not verified, and will not verify, any of the information contained herein, nor has REMAX Associates conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY TOURS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE REMAX Associates advisor FOR MORE DETAILS REMAX hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, REMAX RGV Commercial Group has not and will not verify any of this information, nor has REMAX conducted any investigation regarding these matters. REMAX RGV Commercial Group makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. REMAX RGV Commercial Group expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees. By accepting this Marketing Brochure you agree to release REMAX and hold it harmless from any kind of claim,cost, expense, or liability arising out of your investigation and/or purchase of this property

3 OFFERING MEMORANDUM Area Description McAllen metro area include Edinburg, Mission & Pharr. As of January 1, 2012, the U.S. Census Bureau estimated the population of the Rio Grande Valley at 1,305,782. According to the U.S. Census Bureau in 2008, 86 percent of Cameron County, 90 percent of Hidalgo County, 97 percent of Starr County, and 86 percent of Willacy County are Hispanic. McAllen Edinburg Mission metropolitan area at 804,934. The Reynosa Mexico McAllen TX Metropolitan Area counts a population of nearly 1.5 million. Retail Sales. McAllen MSA is the main retail center in the Rio Grande Valley, drawing from a consumer base of over 10million people within a 200-mile radius, mostly from the Mexican states of Nuevo Leon and Northern-central Tamaulipas. McAllen is represented by 40 of America's top 100 retailers and is ranked 3rd in Texas in per capita sales tax receipts. The City Of McAllen estimate annual expenditures by Mexican Nationals in $ 863 Million of Dollars. Medical. McAllen MSA accounts for 2,000 hospital beds, has become a very important treatment and diagnosis center for South Texas and Northern Mexico. n 2006, McAllen had the second highest per capita Medicare spending in the United States. The State of Texas recently approved the creation of the University of Texas Medical University, now joining University of Texas- Brownsville a new entity : University of the Rio Grande Valley has been created, part of University of Texas System join 6 more institutions with a 2013 total enrollment of more than 213,000. RGV school of Medicine will start operating in Energy. Oil and gas exploration and exploitation are important components of the local economy, with many locals working at the Eagle Shale Ford first drill was in 2008, covers an area of 25 counties and according to Forbes Magazine Eagle Ford is now the largest oil and gas development on the face of the earth based on total capital expenditures. NAFTA. With over 15 million International Bridge Crossings in 2012, McAllen MSA now generate more retail sales per household than Houston, San Antonio, Austin, El Paso and Dallas. The wages differential between US and Mexico attract many manufacturing companies which now compete with China as freight costs are much lower across the border. From McAllen to Reynosa, 5,000 managers, engineers and support staff travel every day to work at the plants across the border. To any of the 410 plants operating in Mexico or 261 operating on the US side. The McAllen-Edinburg-Mission MSA is also part of the transnational metropolitan area (TMA) of Reynosa McAllen, known unofficially as RioPlex or BorderPlex. The transnational statistical area is represented by 40 of America s top 100 retailers. More than 80 of Fortune 500 s global manufacturers have operations in the MSA. Included among them are: AT&T, Bissell, Black & Decker, BMW, Delco, Drexel, Meyer, Eaton, Emerson, GE, Johnson Controls, Nokia, R.R. Donnelley & Sons, Panasonic, Siemens, Sony, Symbol, TRW, West Bend and Whirlpool. The TMA is the retail center of South Texas and Northern Mexico, drawing from a consumer base of over 8.2 million people. Immigration Investment. With the opportunities created by Homeland Security Department and the Investor s visa such as E2 and EB5, foreign nationals invest in businesses, creating jobs and enhancing industrial, commercial and retail areas with the benefit to obtain visa and their legal status in the country, that generate millions of dollars of investments in the community.

4 OFFERING MEMORANDUM Area Description SPACEX Space rockets private company, has selected Brownsville- South Padre Island area to build their launch base for Falcon 9 and Falcon heavy launch vehicles, including the reusable suborbital launch vehicles. The first launches are scheduled for early Total investment is estimated in 100 Million of dollars creating hundreds of high skilled jobs. Is estimated that launches will occur once per month and may attract between 12,000 to 15,000 people visiting the area. MSA / TMA ACCOLADES: Fastest Growing Metro Area in the Nation Fiscal Times, No. 1 Best Housing Market in the Nation Wall Street Journal, No. 4 Best Mid-Sized Cities for Jobs Forbes, Top 100 Location for Doing Business Area Development Magazine, 2011 One of the Top Ten Best Areas for Recession Recovery -Forbes, One of the Best Places to Launch a Small Business CNN Money, MSA Ranked 1st in High Technology Sector Growth in MSA has the 3rd Lowest Cost of Living in the US. Mexican Nationals Account for 20% to 35% of Border Exported Retail Sales.

5 1 Property Information Executive Summary Retailer Map Property Description Property Details Complete Highlights Additional Photos

6 Executive Summary SALE PRICE: $ 7.69 / SF PRICE PER ACRE: $ 333,000 LOT SIZE: 10.51Acres APN #: ZONING: MARKET: PROPERTY OVERVIEW Ideal infill location within 2.8 miles of Expressway 83 in Mission TX. Property is ideal for Retail, Medical and housing development. Currently used as in operation with 79 sites. Seller will not subdivide or sell individual parcels. PROPERTY FEATURES Great infill location within 2.8 miles of Expwy 83 Strong Demographics with high population density within 3 miles ( 80,000 + ) High need for medical, retail, automotive, entertaining and restaurant industries. Area of explosive growth Within close proximity to supermarkets and quick service restaurant options R4 Hidalgo Co SUB MARKET: Mission CROSS STREETS: Mile 2

7 Retailer Map

8 Property Description PROPERTY OVERVIEW 10.51acres well suited for retail, residential medical development. Property is currently a with 79 sites and amenities. LOCATION OVERVIEW Property is located at the corner Mile 2 and Conway Rd, 3131 N Conway Rd, Mission Tx ZONING R4 UTILITIES All utilities are available to the site TOPOGRAPHY The property lies on gently slopping terrain.

9 Property Details PROPERTY NAME: Rolling Homes STREET ADDRESS: 3131 N Conway Rd CITY, STATE, ZIP: Mission Tx LOTS: 28-6 BLOCK: ZONING: R4 LOT SIZE: +/ Acres SEWER PROVIDER: City of Mission WATER PROVIDER City of Mission POWER PROVIDER CPL

10 Property Features Great infill location within 2.8 miles of Expwy 83 Strong Demographics with high density population Zoned R4 allowing for a variety of possible uses Mission Tx area of fastest growth Traffic from 20,000 CPD to 78,000 CPD Within close proximity to supermarkets and quick service restaurant options Mission ISD Elementary School directly across

11 Additional Photos

12 2 Location Information Regional Map Location Map

13 Regional Map

14 Location Map

15 3 Demographics Demographics Map Sale Comps Sale Comps Summary Sale Comps Map Information About Brokerage Services

16 Demographics Map

17 Sale Comps Subject Property 3131 N Conway Rd Mission Tx Sale Price $ 7.69/SF Lot Size AC Price/ AC $ 333,000 Mile 2 N and Conway Sale Price $ 4.58/SF Lot Size 3.03 AC Price/ AC $ 199,700 Date Sold : August N Conway Sale Price $ 2.16 /SF Lot Size 2.65 AC Price/ AC $ 94,339 Date Sold : November N Conway Sale Price $ /SF Lot Size 9,000 SF Price/ AC $ 585,640 Date Sold : November 2010

18 Sale Comps Map Subject Property 3131 N Conway Rd Mission Tx 2- Mile 2 N and Conway N Conway N Conway

19 Information About Brokerage Services Texas law requires all real estate license holders to give the following informa on about brokerage services to prospec ve buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS:. A BROKER is responsible for all brokerage ac vi es, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker s own interests; Inform the client of any material informa on about the property or transac on received by the broker; Answer the client s ques ons and present any o er to or counter-o er from the client; and Treat all par es to a real estate transac on honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wri en lis ng to sell or property management agreement. An owner's agent must perform the broker s minimum du es above and must inform the owner of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent or subagent by the buyer or buyer s agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wri en representa on agreement. A buyer's agent must perform the broker s minimum du es above and must inform the buyer of any material informa on about the property or transac on known by the agent, including informa on disclosed to the agent by the seller or seller s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the par es the broker must first obtain the wri en agreement of each party to the transac on. The wri en agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obliga ons as an intermediary. A broker who acts as an intermediary: Must treat all par es to the transac on impar ally and fairly; May, with the par es' wri en consent, appoint a di erent license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instruc ons of each party to the transac on. Must not, unless specifically authorized in wri ng to do so by the party, disclose: that the owner will accept a price less than the wri en asking price; that the buyer/tenant will pay a price greater than the price submi ed in a wri en o er; and any confiden al informa on or any other informa on that a party specifically instructs the broker in wri ng not to disclose, unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transac on without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker s du es and responsibili es to you, and your obliga ons under the representa on agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This no ce is being provided for informa on purposes. It does not create an obliga on for you to use the broker s services. Please acknowledge receipt of this no ce below and retain a copy for your records. Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Phone Designated Broker of Firm License No. Phone Licensed Supervisor of Sales Agent/ Associate License No. Phone Sales Agent/Associate s Name License No. Phone Buyer/Tenant/Seller/Landlord Initials Regulated by the Texas Real Estate Commission Date Informa on available at IABS 1-0 TAR 2501