HIGH PROFILE NET LEASED INVESTMENT OPPORTUNITY IN NORTH CHARLESTON, SC 4965 Centre Pointe Drive, North Charleston, SC 29418 0.542 Acres 6,317 Square Feet $2,492,500 6.75% Cap Rate AERIAL VIDEO For investment information: J. Tyson Glasser, CCIM Investment Sales Director tglasser@realtylinkdev.com 864.263.5427 o 404.435.6312 c
TABLE OF CONTENTS Property Cover 1 Table of Contents 2 Investment Highlights 3 Property Photos 4-5 Investment Summary 6 Rent Roll & Cash Flow 7 Location Map & Aerial 8 As-Built Survey 9-10 Tenant Profiles 11 Market Profile 12 Property Photo 13 Contact Information 14 Click on page number to skip to page 2
INVESTMENT HIGHLIGHTS High profile new construction two tenant building in the Centre Pointe development of North Charleston Centre Pointe is a first class regional retail destination anchored by Tanger Outlets with more than 90 stores including Saks Off 5th, H&M, Polo Ralph Lauren and Nike Other Centre Pointe businesses include Walmart, Sam s Club, Field & Stream, Conn s HomePlus, La-Z- Boy, Ashley Furniture, Staples, AT&T, Verizon and dozens more retailers, restaurants, hotels and offices North Charleston, known as the Hub of the Lowcountry, is South Carolina s third largest city has led the state in retail sales for 21 straight years Also surrounding Subject Property are Charleston International Airport, Boeing Company, North Charleston Coliseum & Performing Arts Center, Charleston Area Convention Center, City Hall and I-26/I-526 interchange (combined traffic count of +/- 190,400 AADT) The International Airport (3.7M+ passengers in 2016) and Boeing assembly plant ($3B facility) combine to generate more than $13.8B in revenues and 51,000 local jobs annually Subject property features recently commenced long term net leases with quality tenants and rent bumps and renewal options Regional trade area with more than 120,000 residents and 77,000 daytime employees in a 5 mile radius
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Offering Details Purchase Price: $2,492,500 Cap Rate: 6.75% Net Income: $168,240.60 (2018 pro-forma) Land Size: +/- 0.542 Acres and +/- 23,599 Square Feet Building Size: +/- 6,317 Square Feet Building Age: New Construction completed in 2017 Frontage: +/- 65 Feet Access: One entrance/exit with two parking lots Parking: 24 total spaces with 2 handicap spaces Zoning: CRD - Commercial Redevelopment District Traffic Counts: +/- 26,700 AADT on International Blvd +/- 89,600 AADT on I-526 +/- 100,800 AADT on I-26 Demographic Details 3 Mile 5 Mile 10 Mile POPULATION 53,252 128,392 367,944 HOUSEHOLDS 20,286 52,215 147,401 AVERAGE HH INCOME $46,656 $57,499 $71,783 MEDIAN HH INCOME $34,337 $42,703 $51,860 INVESTMENT SUMMARY Lease Details - Domino s Current Lease Term: 15 Years Lease Commencement: January 24, 2017 Lease Expiration: January 23, 2032 Renewal Options: 2 5 Years Each Annual Base Rent: $52,510.00 Years 1-5 Rental Increases: 3% Every 2 Years beginning Year 6 Tenant/Guarantor: Family Ventures 1, LLC Right of First Refusal: None Lease Type: Double Net Lease Details Health Edge Current Lease Term: 8 Years Lease Commencement: July 14, 2017 Lease Expiration: July 13, 2025 Renewal Options: 1 5 Years Annual Base Rent: $121,351.38 Years 1-5 Rental Increases: ~11% Year 6 Tenant/Guarantor: Health Edge Group, LLC Right of First Refusal: None Lease Type: Double Net
RENT ROLL & CASH FLOW Tenant SF % of Total Current Term Start Date End Date Rate PSF Annual Base Rent Rent Bumps Options CAM/Tax/Ins Admin Fee CAM/Tax/Ins PSF CAM PSF Admin. Fee %e Family Ventures 1, 1,780 28.2% 15 Years 01/24/2017 01/23/2032 $29.50 $52,510.00 3% Years 6, 8, 2 @ 5 Years $9,345.00 $89.00 $5.25 $1.00 5% LLC dba Domino s 10, 12, 14 Health Edge Group, LLC dba HEG 4,537 71.8% 8 Years 7/14/14 7/13/25 $26.75 $121,351.00 ~ 11% in Year 6 Totals 6,317 100% $173,861.38 $33,161.63 $769.48 1 @ 5 Years $23,816.63 $680.48 $5.25 $1.00 15% 2018 Base Rental Income $173,861.38 Expense Reimbursement $38,377.47 Admin. Reimbursement $769.48 Total Income $213,008.32 Vacancy (3% of Total Income) $6,390.25 Effective Income $206,618.07 CAM/Tax/Insurance $33,161.63 Management (3% of Base Rents) $5,215.84 Total Expenses $38,377.47 Net Income $168,240.60 7
LOCATION MAP & AERIAL
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TENANT PROFILE Founded in 1960, Domino s Pizza is the recognized world leader in pizza delivery, with a significant business in carryout pizza. It ranks among the world s top public restaurant brands with a global enterprise of more than 14,400 stores in over 85 international markets. Domino s had global retail sales of nearly $10.9 billion in 2016, with more than $5.3 billion in the U.S. and more than $5.5 billion internationally. In the third quarter of 2017, Domino s had global retail sales of more than $2.8 billion, with nearly $1.4 billion in the U.S. and over $1.4 billion internationally. Its system is comprised of independent franchise owners who accounted for over 97% of Domino s stores as of the third quarter of 2017. Emphasis on technology innovation helped Domino s reach an estimated $5.6 billion in global digital sales in 2016, and has produced several innovative ordering platforms, including Google Home, Facebook Messenger, Apple Watch, Amazon Echo, Twitter and text message using a pizza emoji. In late 2017, as part of an industry-first collaboration with Ford Motor Company, Domino s began a meaningful test of delivery using selfdriving vehicles. For more information visit www.dominos.com. Unlike conventional medicine, which focuses on attempting to treat disease once it occurs, Health Edge Medical & Wellness Center emphasizes improving health in an effort to reduce the risk of pain and illness in the first place. For some, Health Edge Medical & Wellness Center will take them back to a place that is cozy and familiar, offering a rediscovery of health and wellness that had been previously known but long lost. For others, the journey may offer a new center, one never before experienced. People are recognizing the benefit of seeking an alternative to traditional medicine; one that will help them achieve and maintain optimal health. As a patient at Health Edge Medical & Wellness Center they personally tailor a wellness program specifically targeted to your wellness needs using the least invasive yet highly-effective techniques and services. For more information visit www.healthedgegroup.com. 10
5 MILE RADIUS MARKET PROFILE Charleston/North Charleston Charleston is the oldest and second-largest city in the state of South Carolina, the county seat of Charleston County and the principal city in the Charleston MSA. North Charleston is the third-largest city in the state of South Carolina, with incorporated areas in Berkeley, Charleston, and Dorchester counties. As of the 2010 Census, North Charleston had a population of 97,471 growing to an estimated population of 104,054 in 2013, and with a current area of more than 76.6 square miles. North Charleston is in close proximity to major roadways, including I-26, I-526, and I-95, rail lines transporting both freight and passengers, an international airport, and one of the East Coast s deepest water ports. Since the construction of the Palmetto Commerce Parkway, many businesses, including Boeing, Venture, Aerobearings, Daimler Vans Manufacturing, Cummins Turbo, and the VTL Group have located and invested hundreds of millions of dollars in to North Charleston s local economy. 11
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Investment Contacts: J. Tyson Glasser, CCIM Investment Sales Director tglasser@realtylinkdev.com 864.263.5427 o 404.435.6312 c 550 South Main Street, Suite 300 Greenville, SC 29601 864.242.4008 p 864.232.0160 f www.realtylinkdev.com 2017 RealtyLink, LLC, We have obtained the contained information from sources we believe are reliable. We have not however verified that all information is accurate and make no guarantee, warranty or representation of it. The information is subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice, and it is not a substitute for a thorough due diligence investigation. We include opinions, projections, estimations and assumptions for example purposes only. This information may not represent current or future performance of the property. Seek legal advise and conduct due diligence if exact numbers are desired. RealtyLink, LLC and the RealtyLink logo are trademarks of RealtyLink, LLC and/or its affiliates. All other logos or company materials displayed in these contents are the property of their respective owners. 14