alpharetta, ga 30022 770.481.1960

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

HICKORY RIDGE COMMONS HICKORY RIDGE COMMONS

6211 Winchester Road, Memphis, TN

http://www.shanegroup.net

The Shane Investment Property Group, LLC. has been engaged as the exclusive agent and representative of the Owner. No

contacts shall be made by any prospective purchaser or agents to the Owner, its executives, personnel or related entities.

This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly

reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves

the right, at its sole discretion, to terminate discussions with any entity at any time with or without notice. The Owner shall have no

legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the

Property unless and until the Owner executes and delivers a signed Purchase Agreement on terms acceptable to the Owner, at

Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and

agrees to release the Owner from any liability with respect hereto.

The enclosed materials are being provided solely to facilitate the prospective purchaser’s own due diligence for which the

purchaser shall be fully and solely responsible.

Neither the Shane Investment Property Group, LLC. Nor the Owner make any representation or warranty, express or implied, as to

the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied upon as a promise

or representation as to the future performance of the Property. This Investment Offering Brochure ay include certain statements

and estimates by the Shane Investment Property Group, LLC. With respect to the projected future performance of the Property.

These assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved.

Further, the Shane Investment Property Group, LLC. And the Owner disclaim any and all liability for representations or warranties,

expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication

transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and

warranties that may be made to it in any final, fully executed and delivered Purchase Agreement between it and the Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to the

Owner or the Shane Investment Property Group, LLC., nor any of their officers, employees, representatives, independent

contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised

and encouraged to conduct their own comprehensive review and analysis of the Property.

CONFIDENTIALITY STATEMENT

6211 Winchester Road, Memphis, TN 770.481.1960 | www.shanegroup.net

HICKORY RIDGE COMMONS



See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

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INVESTMENT OVERVIEW

Hickory Ridge Commons is a dominant 246,440 square foot regional shopping center and outparcels anchored by El Mercadito and

a mix of local and national tenants including Fed Ex Office, City Gear, and Game Stop. It is 65% leased and will be sold at a fraction

of replacement cost. There is significant upside to an investor who can lease the vacant spaces at the lowest rents in the market.

The property is being offered at $26/SF, well below replacement cost. Cash-on-cash returns on in-place income will exceed 20%.

The center has excellent visibility and frontage on Winchester Road, a major east west thoroughfare with 34,646 cars traveling in

front of the center per day. The property is located roughly twenty miles east of downtown Memphis, TN in a densely populated

area with a population of over 99,000 within a three mile trade area. The immediate area is thriving with the following retailers

HIGHLIGHTS

Value Add Investment Below Cost: $26/SF

In-Place Income: 20% (10.95% CAP) Return while Re-Tenanting

Upside: 86,430 Space Available to Lease Up

Densely Populated Area—200,000+ Residents within 5 Miles

Potential to Spin-Off Outparcels ($4M Approximate Value)

PRICE: $6,500,000 | CAP RATE: 10.95% Current, 14.69% Proforma

AREA INFORMATION

Memphis is the county seat of Shelby County, which is the largest county in Tennessee in terms of population (Over 927,000) and

geographic area. Home to Federal Express, which is both the city and county's largest employer (31,000 People), Shelby County is

also home to some of Tennessee's most popular tourist destinations, which include Graceland (over 600,000 visitors per year), and

the National Civil Rights Museum.

Memphis is a heavily populated city (206,839 within a 5 mile radius) and a major cargo port. The city is home to Memphis

International Airport, which is the 2nd busiest cargo airport in the world.

PRICE/SF: $26 | BUILDING: 246,440 SF | LAND: 25.45 ACRES | YEAR BUILT: 1992

3-Mile Demographics: Population : 99,187 | Daytime Population: 41,226 | Average HH Income $57,546


https://en.wikipedia.org/wiki/Shelby_County,_Tennessee




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INVESTMENT SUMMARY

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https://www.google.com/maps/place/6211+Winchester+Rd,+Memphis,+TN+38115/@35.0484112,-89.8546612,1775a,20y,180h/data=!3m1!1e3!4m2!3m1!1s0x887f854e208020c5:0xba73d28f4f842ec9




INVESTMENT SUMMARY

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AERIAL SITE LAYOUT

City Gear

Not a Part

(Building demolished)

Not a Part

Lipstix Entertainment

Klassy Kids Academy El Mercadito

Vacant

Va

can

t

Suits U

School Uniform Central

Red Zone Sports Bar

Super King Buffet

Banquet Hall

FedEx

GameStop

Family Dollar





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RENT ROLL

START EX PIRATION

Interior Building 1

Vacant 24,459 9.92% $110,066 $4.50

Vacant 58,771 23.85% $176,313 $3.00

Lipstix Entertainment 16,028 6.50% Sep-14 Feb-20 $66,000 $4.12 Gross None

Klassy Kids Academy 9,440 3.83% Oct-14 Mar-20 $66,000 $6.99 Gross None

El Mercadito 30,170 12.24% Sep-11 Mar-22 $108,000 $3.58 Gross None

Expansion

El Mercadito 35,424 14.37% Apr-06 Aug-21 $132,840 $3.75 Gross None

Interior Building 2

Super King Buffet 9,610 3.90% Sep-02 Dec-15 $98,466 $10.25 $18,990 None

Banquet Hall 10,037 4.07% Dec-14 Apr-19 $54,000 $5.38 Gross 11%

Visions Barber 2,943 1.19% Feb-11 Jan-16 $30,600 $10.40 Gross None

Outparcel Building 1

Essentials Beauty Supply 4,957 2.01% Jan-11 Apr-16 $48,000 $9.68 Gross None

Essentials Beauty Hair Salon 2,000 0.81% Jan-11 Apr-16 $24,000 $12.00 Gross None

Suits U 5,010 2.03% Apr-07 Mar-17 $30,000 $5.99 Gross None

School Uniform Central Expansion 3,200 1.30% Feb-06 Jun-19 $30,000 $9.38 Gross None

School Uniform Central 4,000 1.62% Jul-03 Jun-19 $36,000 $9.00 Gross None

Red Zone Sports Bar 10,390 4.22% Dec-13 Sep-19 $72,000 $6.93 Gross 8%

Vacant 3,200 1.30% $25,600 $8.00


Fed Ex Office 3,700 1.50% Mar-92 May-17 $17,945 $4.85 $7,371 None

Goldman Signature 2,100 0.85% Jun-09 Jun-16 $26,400 $12.57 Gross None

AAA Cash Fast 1,409 0.57% Jun-01 Jun-20 $23,953 $17.00 $3,046 None

Gamestop 1,192 0.48% Jan-99 Jan-17 $17,880 $15.00 $2,367 None


City Gear 8,400 3.41% Mar-08 Feb-21 $109,200 $13.00 Gross None

246,440 $31,774

64.93% 160,010 76.06% $991,284 $6.20 $31,774

35.07% 86,430 23.94% $311,979 $3.61

1 x 5yr

6305

6301

6211 None

6245

6227

6225

6223

6231

6281

6279 1 x 5yr

1 x 5yr

1 x 5yr

None

None

1 x 2yr

None

None

None

None

2 x 3yr

None

None

3678 None

3674 1 x 5yr

3744

3750

3679

6297

6293

3668

3766

$1,303,263

TENANT OPTIONS

ANNUAL

RENT/SQ. FT. ESCALATIONS

ESTIMATED

RECAPTURE

SQUARE

FOOTAGE

ANNUAL

BASE RENT

% OF

CENTER

LEASE TERM

3762

3745





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B u i l d i n g

Price: Year Built: 1992

Down Payment: Building Square Feet: 246,440

Current CAP: Land Parcel (Acres): 25.45

Market CAP:

T e n a n t s

First Loan Amount:

Interest Rate:

Amortization:

Term:

Monthly Payment:

Loan information is proposed only

E x p e n s e sProforma Rents

Scheduled Gross Income 1,303,263$ 1,303,263$ 93,240$

Plus Overage 50,000 50,000 24,480

Plus Recapture 31,774 31,774 18,000

Total Income 1,385,037$ 1,385,037$ 65,335

Less Vacancy 311,979 22.5% 69,252 5.0% 14,000

Gross Operating Income 1,073,058$ 1,315,785$ 6,295

Less Expenses 361,067 361,067 11,000

Net Operating Income 711,991$ 954,718$ 32,200

Loan Payments 303,485 303,485 18,000

Pre Tax Cash Flow 408,507$ 20.9% 651,233$ 33.4% 36,966

Plus Principal Reduction 100,797 100,797 3.0% 41,551

Total Return Before Taxes 509,303$ 26.1% 752,030$ 38.6% Total Expenses 361,067$

3 City Gear

R e t u r n

Taxes

Insurance

Utilities

Landscaping/Sweeping

Telephone - Monitoring

Management

Fire Protection

14.69%

$26.38

$5.29

L o a n I n f o r m a t i o n

Annual Rent per Square Foot:

Fed Ex Kinko's Office25

Reserves ($0.15 PSF)

Current Rents

Super King Buffet$25,290.38

Red Zone Sports Bar

Repairs & Maintenance

Ground Security

Security Monitoring

El Mercadito

Gamestop4.50%

$4,550,000

$6,500,000

Cost per Gross Square Foot:

30.00%

10.95%

$1,950,000

F i n a n c i a l





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Also known as the River City, Memphis had a population of 655,155 in 2012 making it the largest city in the state of Tennessee, and

the largest city on the Mississippi River, the third largest in the Southeastern United States. Memphis Tennessee's tourist

destinations include a number of well-known museums, fine art galleries, and parks, as well as Graceland, the former home of Elvis

Presley, the Beale Street entertainment district, and a number of recognized sporting events. Graceland is one of the most visited

houses in the United States, attracting over 600,000 domestic and international visitors a year (second only to the White House).

Memphis' central location has led to much of its business development. Located on the Mississippi River and

intersected by five major freight railroads and two interstate Highways, I-40 and I-55, Memphis is ideally

located for commerce in the transportation and shipping industry. The city is home to Memphis International

Airport, the world's second busiest cargo airport (following Hong Kong), which serves as a primary hub for

FedEx Express shipping.

Economy

Highlights University of Memphis Memphis International Airport (2nd Busiest Cargo Airport)

Attractive Tourist Destinations Largest City on the Mississippi River Home to Federal Express Headquarters Major Employers

The River CityThe River CityThe River City





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https://www.google.com/maps/place/6211+Winchester+Rd,+Memphis,+TN+38115/@35.1115697,-89.9349201,12z/data=!4m2!3m1!1s0x887f854e208020c5:0xba73d28f4f842ec9




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One Mile Three Miles Five Miles Notes

2015 Population 17,956 99,187 206,839 2000 Population 17,415 96,868 190,348 5 Year Projected 18,578 101,987 213,103 Growth Over the Past 15 Years 3.11% 2.39% 8.66%Projected Growth Over the Next 5 Years 3.46% 2.82% 3.03%

2015 Households 7,330 36,472 79,055 % Owner Occupied 16.30% 42.90% 49.80%% Renter Occupied 64.70% 44.50% 39.70%2000 Households 7,719 37,975 74,698 5 Year Projected 7,552 37,444 81,422 Growth Over the Past 15 Years -5.04% -3.96% 5.83%Projected Growth Over the Next 5 Years 3.03% 2.67% 2.99%

2015 Average Household Income $38,171 $57,546 $74,818 5 Year Projected $43,329 $64,793 $83,557 Projected Growth Over the Next 5 Years 13.51% 12.59% 11.68%

2012 United Stated Average Household Income $77,190

Employment & Establishments

2015 Employees/Daytime Population 5,891 41,226 156,824 2015 Total Establishments 699 3,364 10,136

White 11.00% 18.00% 32.90%Black 78.50% 72.40% 57.60%American Indian/Eskimo 0.20% 0.20% 0.20%Asian/Pacific Islander 0.70% 1.50% 2.40%Other Race 7.90% 6.40% 5.50%

Hispanic Ethnicity 11.70% 9.60% 8.60%

Race

Population

Households

Income

5-mile population

exceeds 200,000

Daytime population

of over 41,000

employees

5-mile average

household income

exceeds $ 74,000


alpharetta, ga 30022 770.481.1960

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