RANCHO EL MIRAGE PLAZA OFFERING MEMORANDUM 13915 N Dysart Rd I El Mirage, AZ 85335 TRENTON MCCULLOUGH Senior Vice President 480.294.6582 tmccullough@levrose.com MARK CASSELL Associate 480.289.4227 Exclusively mcassell@levrose.com Presented By:
13915 N DYSART RD EL MIRAGE, AZ CONTENTS I 2 CONTENTS Property Summary Page 3 Property Description Page 4 Photos Page 5 Site Plan Page 6 Aerials Page 6-8 Financials Page 9-12 Sales Comparables Page 13-14 Demographics Page 15 Exclusively Listed By: TRENTON MCCULLOUGH Senior Vice President 480.294.6582 tmccullough@levrose.com MARK CASSELL Associate 480.289.4227 mcassell@levrose.com This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information. References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices are subject to change without notice. 4414 N. Civic Center Plaza, Suite 100 Scottsdale, AZ 85251 T: 480.947.0600 www.levrose.com WORLDWIDE REAL ESTATE SERVICES
13915 N DYSART RD EL MIRAGE, AZ PROPERTY SUMMARY I 3 PROPERTY SUMMARY PARCEL MAP Property Address: Property Type: Price: 13915 N Dysart Rd El Mirage, AZ 85335 Strip Center Call to Discuss Scheduled NOI: $299,011 Current Occupancy: 94% 501-33-979 Estimated CAP Rate: Lot Size: Total Building Size: Call to Discuss 5.35 Acre ± 20,130 SF Year Built: 2005 & 2006 Zoning: Market: Sub Market: Cross Streets: UC - Urban Cooridor Phoenix Sun City Retail Thunderbird and Dysart Road
13915 N DYSART RD EL MIRAGE, AZ PROPERTY DESCRIPTION I 4 PROPERTY FACTS PARKING 5.30/1,000 SF PARCEL Parcel: 501-33-979 Lot Size: ±154,943 ZONING UC - Urban Corridor TRAFFIC COUNTS THUNDERBIRD RD. - 20,107 VPD DYSART RD. - 16,904 VPD Adjacent Building - NAP
13915 N DYSART RD EL MIRAGE, AZ FINANCIAL SUMMARY I 5 RANCHO EL MIRAGE - CURRENT 2017 Tenant Current Rate Sq. FT % of Building Lease Start Lease Expiration Current Monthly Rent Current Annual Rent Little Smiles $18.31 3,000 14.90% 5/21/2005 3/31/2019 $4,578 $54,930 Anytime Fitness $13.00 3,840 19.08% 4/1/2011 3/31/2021 $4,160 $49,920 Water & Ice $15.00 1,000 4.97% 10/13/2016 4/30/2020 $1,250 $15,000 Smoke Away $15.45 1,172 5.82% 4/1/2012 6/30/2018 $1,509 $18,107 Travis Rhodes $14.50 1,053 5.23% 10/26/2015 10/31/2020 $1,272 $15,269 Metro PCS $14.42 1,598 7.94% 12/1/2014 11/30/2017 $1,920 $23,043 Oasis Martial Arts $12.00 2,500 12.42% 8/7/2017 8/6/2023 $2,500 $30,000 Nails & Spa $16.88 1,200 5.96% 3/1/2015 2/29/2020 $1,688 $20,256 Tan Pro $14.00 2,032 10.09% 2/1/2011 1/31/2019 $2,371 $28,448 Lupitas Mexican Food $15.00 1,535 7.63% 4/1/2012 3/31/2017 $1,919 $23,025 Vacant - 1,200 5.96% - - - - T-Mobile West Tower LLC - - - 6/13/2006 6/12/2021 $1,084 $13,013 Totals: $14.86 20,130 100.00% $24,251 $291,011 Occupancy: 18,930 94.04% Vacancy: 1,200 5.96%
13915 N DYSART RD EL MIRAGE, AZ FINANCIAL SUMMARY I 6 Rancho El Mirage 2017 Forecast Tenant SF Jan Feb March April May June July Aug Sept Oct Nov Dec Annual Blended $/SF Little Smiles 3000 $4,577.50 $4,577.50 $4,577.50 $4,714.83 $4,714.83 $4,714.83 $4,714.83 $4,714.83 $4,714.83 $4,714.83 $4,714.83 $4,714.83 $56,166 $18.72 Anytime Fitness 3840 $4,160.00 $4,160.00 $4,160.00 $4,284.80 $4,284.80 $4,284.80 $4,284.80 $4,284.80 $4,284.80 $4,284.80 $4,284.80 $4,284.80 $51,043 $13.29 Water & Ice 1000 $1,250.00 $1,250.00 $1,250.00 $1,250.00 $1,287.50 $1,287.50 $1,287.50 $1,287.50 $1,287.50 $1,287.50 $1,287.50 $1,287.50 $15,300 $15.30 Smoke Away 1172 $1,508.95 $1,508.95 $1,508.95 $1,508.95 $1,508.95 $1,508.95 $1,554.22 $1,554.22 $1,554.22 $1,554.22 $1,554.22 $1,554.22 $18,379 $15.68 Travis Rhodes 1053 $1,272.38 $1,272.38 $1,272.38 $1,272.38 $1,272.38 $1,272.38 $1,272.38 $1,272.38 $1,272.38 $1,272.38 $1,310.55 $1,310.55 $15,345 $14.57 Metro PCS 1598 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,920.26 $1,977.87 $23,101 $14.46 Oasis Martial Arts 2500 - - - - - - - NNN NNN NNN NNN $2,500 $2,500 $2,500 Nails & Spa 1200 $1,688.00 $1,688.00 $1,738.64 $1,738.64 $1,738.64 $1,738.64 $1,738.64 $1,738.64 $1,738.64 $1,738.64 $1,738.64 $1,738.64 $20,762 $17.30 Tan Pro 2032 $2,370.67 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $2,441.79 $29,230 $14.39 Lupitas Mexican Food 1535 $1,918.75 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $1,976.31 $23,658 $15.41 T-Mobile West Tower LLC - $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $1,084.45 $13,013 - Vacant 1,200 - - - - - - - - - - - - - - Total 21,430 Total $265,998 $15.46 Occupied: 18,930 88.33% Vacant: 1,200 5.96% *Oasis Martial Arts has 4 months of free rent (NNN only) which expires in December. Full rent will commence on December 7, 2017. Indicates Rental Increase
13915 N DYSART RD EL MIRAGE, AZ FINANCIAL SUMMARY I 7 Expenses Financial Summary Property Size 20,130 Occupancy 94.04% INCOME Scheduled Rental Income $291,011 CAM Reimbursement $119,798 COREA CAM Reimbursement $7,696 Signage Income $960 Effective Gross Income $419,465 OPERATING EXPENSES Electicity $11,312 Water $3,045 Janitorial/Day Porter $3,960 HVAC Maintenance $1,365 Landscaping $6,955 Pressure Washing $2,340 Parking Lot Sweeping $2,160 Repairs & Maintenance $15,500 Trash Removal $3,824 Pest Control $1,098 Life & Safety $5,712 Mangaement Fees $15,267 Insurance $4,394 Taxes - 2015 $43,122 TOTAL OPERATING EXPENSES $120,054 PER SQUARE FOOT $5.96 Net Operating Income $299,011
13915 N DYSART RD EL MIRAGE, AZ PROPERTY PHOTOS I 8 Adjacent Building - NAP
13915 N DYSART RD EL MIRAGE, AZ SITE PLAN I 9 SITE PLAN LITTLE SMILES WATER & ICE SMOKE SHOP AMERICA FAMILY I NSURANCE NAP NAP LUPITA S TANNING SALON NAIL SALON AVAILABLE 1,200 SF METRO PCS BARBER
13915 N DYSART RD EL MIRAGE, AZ AERIAL I 10 13915 N DYSART ROAD WADDELL ROAD - 19,125 VPD THUNDERBIRD ROAD
13915 N DYSART RD EL MIRAGE, AZ AERIAL I 11 13915 N DYSART ROAD N DYSART ROAD THUNDERBIRD ROAD
13915 N DYSART RD EL MIRAGE, AZ LOCATION DEMOGRAPHICS INFORMATION I 12 Ottawa University revives plan to build $20M residential campus in Surprise Ottawa University is opening a 35-acre residential campus in Surprise this fall, complete with dorms and 19 varsity men's and women's sports teams. Kevin Eichner, president of Ottawa University, said he has been exploring the idea of a residential campus since 2010. In 2011, we came very close to doing a deal, and then we had to move onto a couple of other cities, and now we re back here with Surprise, he said. He said he s been working with Surprise leadership for nearly two years. Surprise Mayor Sharon Wolcott said the city s investment is mainly in providing an existing infrastructure. We came up with a plan on how we should share our resources, share our amenities, share our recreational campus, she said. It s like having a university campus without the college here. The new school will be next to the Surprise City Hall and the Surprise Recreational Complex, which will be used by the university s athletics department that will work toward a National Association of Intercollegiate Athletics designation. If such a designation were approved, Ottawa would be one of only four NAIA programs in Arizona. The school mascot is a grey wolf and the sports teams are called the Spirit. We ve already hired 24 coaches and leaders, Eichner said. In addition, plans call for hiring 12 more faculty to augment the existing faculty, he said. Ottawa University has had a presence in the Phoenix area for 40 years, providing education for working adults. We have 8,300 alumni who live here in the Valley of the Sun, Eichner said. Wolcott said the residential campus will spur economic development downtown. We already have a substantial amount of the Valley s workforce living here in the West Valley, she said. This is one of few options for a private university to offer an education to students in the West Valley anywhere in the Valley. Plans call for opening the university this fall with 250 students, growing to 3,000 residential students over 10 years. Ottawa University is a private, nonprofit, Christian university that was founded in Ottawa, Kansas, in 1865, and operating in Arizona since 1977 with campuses in Phoenix and Queen Creek. It also has been serving the Surprise community for eight years at its current location as part of the Communiversity of Surprise, a partnership of higher education institutions. Expansion plans for the Surprise campus include residential housing, an indoor activity center, dining and conference space and new athletic fields, including a stadium with artificial turf for football and soccer. Ottawa University has not yet selected an architect or general contractor for the project. Phoenix Business Journal Angela Gonzales, Senior Reporter
13915 N DYSART RD EL MIRAGE, AZ SALE COMPS I 13 SOLD COMPARABLES 1. 20329 N. 59th Avenue Glendale, AZ 85308 2. 29850 N. Tatum Blvd Phoenix, AZ 85331 Sale Price: $6,000,000 Sale Price: $3,800,000 CAP Rate: 6.67% CAP: 6.87% Year Built: 2001 Year Built: 2003 Building SF: 22,280 SF Building SF: 18,823 SF Price PSF: $269.30/SF Price PSF: $193.80/SF Closed: 5/7/2015 Closed: 10/29/2015 NOI: $400,200 NOI: $261,060 3. 3121 W. Peoria Ave Phoenix, AZ 85029 4. 16650 E. Palisades Blvd Fountain Hills, AZ 85268 Sale Price: $7,781,000 Sale Price: $2,401,000 CAP: 6.24% CAP Rate: 7.65% Year Built: 2014 Year Built: 2001 Building SF: 17,755 SF Building SF: 21,600 SF Price PSF: $438.24/SF Price PSF: $111.16/SF Closed: 2/2/2015 Closed: 9/1/2015 NOI: $485,534 NOI: $183,6765
13915 N DYSART RD EL MIRAGE, AZ SALE COMPS I 14 SOLD COMPARABLES 5. 20851 N. 83rd Ave Peoria, AZ 85382 Sale Price: $2,800,000 CAP: 7.9% Year Built: 2004 Building SF: 16,538 SF Price PSF: $169.31/SF Closed: 4/15/2016 NOI: $221,200
13915 N DYSART RD EL MIRAGE, AZ DEMOGRAPHICS I 15 DEMOGRAPHICS POPULATION 1 MILE 3 MILES 5 MILES 2016 TOTAL POPULATION 19,536 96,434 206,145 2021 TOTAL POPULATION 21,049 104,058 223,293 MEDIAN AGE 31.50 38.20 47.90 DAYTIME POPULATION 17,945 55,908 200,226 HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES 2016 TOTAL HOUSEHOLDS 5,967 34,561 88,191 2016 TOTAL # OF PERSON PER HH 3.30 2.80 2.30 2016 AVERAGE HH INCOME $64,409 $61,010 $57,519 2016 AVERAGE HOUSE VALUE $146,490 $142,453 $154,156
RANCHO EL MIRAGE PLAZA OFFERING MEMORANDUM 13915 N Dysart Rd I El Mirage, AZ 85335 TRENTON MCCULLOUGH Senior Vice President 480.294.6582 tmccullough@levrose.com MARK CASSELL Associate 480.289.4227 Exclusively mcassell@levrose.com Presented By: