REPRESENTATIVE PHOTO FRED S SUPER DOLLAR 340 Virginia Ave Daleville, AL 36322 OFFERING MEMORANDUM
2 TABLE OF CONTENTS INVESTMENT OVERVIEW Property Overview Area Demographics Tenant Overview Location Overview 4 7 8 9 REPRESENTATIVE PHOTO
3 DISCLAIMER All materials and information received or derived from B Plus E LLC, its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither B Plus E LLC, its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party B Plus E LLC will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. B Plus E LLC makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. B Plus E LLC does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. CONTACT INFO Spencer Henderson 415.315.9287 shenderson@benetlease.com Scott Scurich 415.302.6498 sscurich@benetlease.com Jon Nesbitt AL #: 47101962 Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by B Plus E LLC in compliance with all applicable fair housing and equal opportunity laws.
11 PROPERTY OVERVIEW 340 Virginia Ave Daleville, AL 36322 NOI $74,355 Lease Structure NN Building SF +/-17,400 RPSF $4.13 Original Lease Term 7 Years Remaining Term 3 Years Renewal Options 1; 5 Year Parking +/- 40 Termination Options None FINANCIAL OVERVIEW Annual Fred s Rent $72,000 Subway Rental Income $9,600 Total Income $81,600 Annual Property taxes $3,562.25 Annual Insurance $2,782.56 Annual Lot Maintentence $900 Total Annual Expenses $7,244.81 NOI $74,355 INVESTMENT HIGHLIGHTS 4 Mile Distance to Major Military Base Fort Rucker also known as the Home of Army Aviation, has a military population of over +/- 50,000. It is also the home of the US Army Aviation Technical Test Center which conducts aircraft testing for Army Aviation. Immediately Adjacent to Industry Leading Flight School FlightSafety International is The World Leader in Professional Aviation Training and Simulation Systems. This is one of their 30 locations in North America. Located on Main East/West Transportation Route Highway 84 is the main east/west route through southern Alabama. Annual Income Increased by Subway Co-tenancy Subway not only diversifies annual rent but also drives traffic to the Subject Property. PAGE 4
12 PROPERTY PICTURES 340 Virginia Ave Daleville, AL 36322 PAGE 5
AREA MAP 340 Virginia Ave Daleville, AL 36322 PAGE 6
14 DEMOGRAPHICS MAP 340 Virginia Ave Daleville, AL 36322 POPULATION 5 Miles 10 Miles 15 Miles Total Population 13,762 56,284 91,076 Median Age 34.5 35.2 37.0 Median Age (male) 32.1 33.1 34.9 Median Age (Female) 36.5 37.0 39.0 HOUSEHOLDS & INCOME 5 Miles 10 Miles 15 Miles Total Households 5,542 21,753 35,726 # of Persons/HH 2.5 2.6 2.5 Average HH Income $52,841 $58,315 $56,210 Average House Value $127,820 $135,619 $137,372 PAGE 7
TENANT OVERVIEW Fred s Inc. (NASDAQ: FRED, Fred s ) Tracing its history back to an original store in Coldwater, Mississippi, opened in 1947, today Fred s Inc. is headquartered in Memphis, Tennessee, and operates 601 general merchandise and pharmacy stores, including 14 franchised locations, and three specialty pharmacy-only locations. With a unique store format and strategy that combines the best elements of a value-focused retailer with a healthcare-focused drug store, Fred s stores offer more than 12,000 frequently purchased items that address the everyday needs of its customers and patients. This includes nationally recognized brands, proprietary Fred s label products, and a full range of value-priced selections. The Company has two distribution centers, one in Memphis, Tennessee, and Dublin, Georgia. Tenant Summary Tenant Name Fred s Super Dollar Founded 1947 Number of Locations 628 Total Revenue $2.13B Stock Ticker FRED Headquarters Memphis, Tennessee Website https://www.fredsinc.com/ PAGE 8
24 LOCATION OVERVIEW 340 Virginia Ave Daleville, AL Also known as the City of Possibilities and home of Fort Rucker, Daleville is a charming town in southeast Alabama. Daleville is proud of its excellent school system, year-round recreational activites, quality healthcare providers, and a great downtown culture. In addition the beautiful because of the Gulf of Mexico are a short drive away. Daleville is Fort Rucker s closest neighbor and supporter of the high level training that army canidates recieve at the hi-tech aviation centers located in the town. Over 50,000 military members and their families live on base that enjoy everything Daleville has to offer. PAGE 9
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