Across from walmart supercenter & Kohl s [ REPRESENTATIVE PHOTO ] very strong guarantor 10-year lease with rental Increases 2603 Hart St., Vincennes, IN 47591 [ www.capitalpacific.com ]
PROperty Summary freestanding verizon in vincennes, in Listing BROKER Contact Info John Andreini jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 PRICE: $1,273,846 CAP: 6.50% Rentable SF...1,616 SF land area... 0.72 Acres YEAR RENOVATED....2015 Lease Expiration....12/31/2025 In Conjunction with IN Licensed Broker: Kyle Hughes, Veritas Realty khughes@veritasrealty.com (317) 472-1800 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. [ surrounding area retail ] Verizon 2
core characteristics investment highlights Relocation of a successful inline store that has operated in the market for 10+ years Excellent fundamentals - Hard corner, signalized intersection Solid education/economic base - Home to Vincennes University, which has over 5,000 students enrolled annually Vincennes is the county seat of Knox County and is the primary shopping area for its 38,000 residents Landlord and tenant invested over $300,000 in exterior and interior improvements including the roof (20 year warranty), parking lot, HVAC, plumbing, electrical, and the entire interior Immediate area traffic draws are Walmart Supercenter, Kohl s, AMC Showplace, and many others Tenant highlights (see page 9 for more details) Verizon 2014 revenue was $127 billion 2014 net income was just shy of $10 billion operator Largest Verizon retailer in the US with over 500 stores across the country Huge annual revenues (speak with Agent for details) lease highlights Ten-year primary lease term with options, rental increases every 5 years Three 5-year options with 10% rental increases every 5 years Tenant responsible for common area maintenance expenses, taxes, tenant insurance, HVAC, parking lot, interior non-structural components [ actual store ] Landlord responsible for roof and structure Verizon 3
aerial Vincennes is the county seat of Knox County and is the primary shopping area for its 38,000 residents 150 50 50 150 150 INDIANAPOLIS COUNTRY CLUB OF OLD VINCENNES 22,120 DAILY 41 N 6th Street 50 KIMMELL CROSSING BUS 41 James Whitcomb Riley Elementary S Lincoln High School Clark Middle School Hart Street et S 6th Stre KNOXKNOX COUNTY COUNTY t tree ts Har KNOX COUNTY 41 Verizon 4
photos surrounging area retailers include walmart supercenter, kohl s, Amc, AND many OTHERS Verizon 5
income & expense PRICE $1,273,846 Price Per Square Foot: $788.27 Capitalization Rate: 6.50% Total Rentable Area (SF): 1,616 Lot Size (AC): 0.72 STABILIZED INCOME Scheduled Rent $82,800 Effective Gross Income $82,800 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $82,800 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ actual store ] Verizon 6
rent roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT Verizon 1,616 12/14/15 12/31/20 $82,800 $6,900 $82,800 $4.27 $51.24 01/01/20 12/31/25 $7,245 $86,940 $4.48 $53.80 Option 1 01/01/26 12/31/30 $7,970 $95,634 $4.93 $59.18 Option 2 01/01/31 12/31/35 $8,766 $105,197 $5.42 $65.10 Option 3 01/01/36 12/31/40 $9,643 $115,717 $5.97 $71.61 Totals: 1,616 $82,800 $6,900 $82,800 $4.27 $51.24 *Store is Open This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ surrounding area retail ] Verizon 7
site plan Site Plan Key Parcel outline: Land Area: 0.72 acres Building Area: 1,616 sf Ingress/Egress: Hart Street This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. Verizon 8
tenant overview About Verizon Verizon Communications Inc, (NYSE, NASDAQ: VZ) headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communication services to mass market, business, government, and wholesale customers. Verizon Wireless operates America s most reliable wireless network, serving more than 109.5 million customers nationwide. Globally, they offer voice and data services in more than 200 countries. Verizon Wireless employs 178,500 people and has 1,700+ company operated retail locations in the US. In 2014, Verizon Wireless reported total revenue of $127 billion. Verizon ranks #22 on the Forbes list of the World s Most Valuable Brands and #26 on the list of the World s Biggest Public Companies. www.verizonwireless.com GROSS REVENUE $127 Billion Net Income $10 Billion Locations 1,700+ Fiscal 2014 About Moorehead communications Moorehead Communications owns and operates over 535 wireless stores doing business as The Cellular Connection. These are Verizon Wireless Premium Retailer stores with a track record of success. Moorehead Communications is the largest Premium Retailer in the nation with huge annual revenues (speak with Agent for details). [ actual store ] Verizon 9
regional map Vincennes is located about 122 miles southeast of Indianapolis indianapolis columbus 2 hr 14 min 122 miles 3 hr 44 min 237 miles cincinnati st. louis 2 hr 54 min 154 miles vincennes 2 hr 16 min 141 miles louisville Verizon 10
location location & Demographics [ actual store ] About Vincennes, IN Vincennes is the county seat of Knox County, Indiana. It is located on the lower Wabash River in the southwestern part of Indiana, nearly halfway between Evansville and Terre Haute. According to the 2010 census, the population was 18,423. Located in the center of Mid-America, Vincennes is essential for commercial and industrial distribution. The city is located about 122 miles southwest of Indianapolis. Two major interstate highways that connect to other major routes, US 41 and US 50, pass through Vincennes. It is also serviced by Evansville Regional Airport, about 45 miles south. Vincennes University, one of the oldest institutions in the county, has over 5,000 students enrolled annually. Population 2015 Household incomes 1-Mile 3-Mile 5-Mile Top Employers in knox county 3-Mile 5-Mile 10-Mile 2010 21,024 24,980 31,202 Average $48,501 $52,809 $54,936 Employer # of Employees* Vincennes University 1,946 Good Samaritan Hospital 1,780 Futaba Indiana of America 700 Schott Gemtron 400 *Approximate Verizon 11
A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ www.capitalpacific.com ] [ actual store ] John Andreini jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 In conjunction with IN Licensed Broker: Kyle Hughes, Veritas Realty khughes@veritasrealty.com 317-472-1800 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. chris kostanecki chris peters dave lucas zandy smith jack navarra zeb ripple rick sanner joe caccamo gregg steele karla zens [ Copyright 2015 Capital Pacific ]