autozone - little rock, ar€¦ · this offering memorandum has been prepared to provide summary,...
TRANSCRIPT
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515 E Roosevelt Rd | Little Rock, AR OFFERING MEMORANDUM
03 INVESTMENT SUMMARY• Investment Summary• Investment Highlights
05 AREA OVERVIEW• Location Map• Aerial & Retail Maps• City Overview
09 TENANT OVERVIEW • Tenant Profile
10 LEASE ABSTRACT• Lease Summary• Rent Roll
Exclusively Marketed By: Sands Investment Group
© 2018 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. Sands InvestmentGroup does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is theresponsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it’s accuracy and completeness.Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurancethese projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potentialinterested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.
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John KerrLic # 01996892
424.228.1718 | [email protected]
In Cooperation with JDS Real Estate Services, IncBoR: Jennifer D. Stein – Lic # PB00076638
Jeff AschierisLic # 98467
843.410.2706 | [email protected]
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PROPERTY SUMMARY
ADDRESS 515 E Roosevelt Rd
Little Rock, AR 72206
COUNTY Pulaski
BUILDING AREA 4,822 SF
LAND AREA 0.30 Acres
OFFERING SUMMARY
PRICE $1,122,555
CAP 5.95%
NOI $66,792
PRICE PER SF $232.80
YEARS REMAINING ~9 Years
LEASE GUARANTY AutoZone, Inc
Investment Summary
CorporateGuarantee
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• AutoZone Executed an Early Lease Extension Showing Strong Dedication to the Site
• NN Lease with Minimal Responsibilities with Three (3) x Five (5) Year Renewal Options
• Tenant has Been Operating at this Location Since 2002
• Site Located on Highly Traveled Interstate 30 with 94,000 Vehicles Per Day
• Strategically Located on Interstate 30 Providing Great Visibility to Thoroughfare of 94,000 VPD with ConvenientOn/Off Ramp Access
• Daytime Employment of 290,000 and an Average Household Income of $64,300 Within a 10-Mile Radius of Site
• AutoZone is the Second Largest Retailer of Aftermarket Automotive Parts and Accessories in the United States andhas an Annual Revenue of $10.64 Billion
• Over 6,000 AutoZone Retail Stores Across the United States, Puerto Rico, Mexico and Brazil
• Nearby Tenants Include: O’Reilly Auto Parts, Family Dollar, Shell, Exxon, Kroger and Dollar Tree
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Little Rock Police Department
Mann MagnetMiddle School
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SUBJECT PROPERTY DEMOGRAPHICS
3 Mile 5 Mile 10 Mile
Population 29,072 95,510 285,436
Average Household Income $43,556 $54,108 $64,308
E Roosevelt Rd
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HEALTHMARKETS HEADQUARTERS
Little Rock is the capital and the most populouscity of the U.S state of Arkansas. It is also thecounty seat of Pulaski County with a populationof 198,541 in 2016. It is a part of the Little Rock-North Little Rock- Conway, AR MetropolitanStatistical Area (MSA), which is ranked 75th interms of population in the United States with734,622 residents in 2016. Two Interstatehighways, Interstate 30 and Interstate 40, meetin Little Rock, with the Port of Little Rock servingas a shipping hub.
The city Of Little Rock is serves as theheadquarters for Dillard’s, WindstreamCommunications, Acxiom, Stephens Inc.,University of Arkansas for Medical Sciences,Heifer International, the Clinton Foundation, andthe Rose Law Firm. Other large corporationssuch as Dassault Falcon Jet and LM Wind Powerhave large operations in the city.
Little Rock is a cultural, economic, government,and transportation center within Arkansas andthe South. Situated on the Arkansas River banks,downtown Little Rock is anchored by abeautifully restored and renovated RobinsonCenter Performance Hall and the WilliamJefferson Clinton Presidential Center and Park.Several cultural institutions are in Little Rockincluding the Arkansas Art Center, the ArkansasRepertory Theatre, and the Arkansas SymphonyOrchestra, in addition to the hiking, boating,museums and other outdoor recreationalopportunities.
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COMPANY TYPENYSE: AZO
HEADQUARTERSMemphis, TN
# OF LOCATIONS6,000+
FOUNDED1979
WEBSITEautozone.com
EMPLOYEES$21.43 Billion
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For more than 30 years, AutoZone has been committed toproviding the best parts, prices and customer service in theautomotive aftermarket industry.
We have a rich culture and history of going the Extra Milefor our customers and our community. AutoZone is thenation's leading retailer and a leading distributor ofautomotive replacement parts and accessories with morethan 6,000 stores in US, Puerto Rico, Mexico, and Brazil.Each store carries an extensive line for cars, sport utilityvehicles, vans and light trucks, including new andremanufactured hard parts, maintenance items andaccessories. Since opening its first store in Forrest City,Arkansas on July 4, 1979, the company has joined the NewYork Stock Exchange (NYSE: AZO) and earned a spot in theFortune 500. AutoZone also sell automotive diagnostic andrepair software through ALLDATA, diagnostic and repairinformation through alldatadiy.com, and auto and lighttruck parts and accessories through AutoZone.com.
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TLEASE SUMMARY
TENANT AutoZone
PREMISES A Building of Approximately4,822 SF
LEASE COMMENCEMENT December 10, 2002
LEASE EXPIRATION June 30, 2026
LEASE TERM ~9 Years Remaining
RENEWAL OPTIONS 3 x 5 Year Options
RENT INCREASES 5% At Each Option
LEASE TYPE NN Lease
USE Auto Parts Store
PROPERTY TAXES Tenant’s Responsibility
INSURANCE Tenant’s Responsibility
COMMON AREA Tenant’s Responsibility
ROOF & STRUCTURE Landlord’s Responsibility
REPAIRS & MAINTENANCE Tenant’s Responsibility
HVAC Tenant’s Responsibility
UTILITIES Tenant’s ResponsibilityActual Property Image
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TENANTNAME
SQUAREFOOTAGE
% OF TOTAL
MONTHLYBASE RENT
RENT / SF
INCREASE DATES
LEASEBEGIN
LEASE END
OPTIONS
AutoZone 4,822 SF 100% $5,324 $1.10 5% At Each Option 12/10/2002 06/30/2026 3 x 5 Years
Pylon Sign - - $242 - None 05/01/2003 05/01/2018 None
TOTAL 4,822 SF 100% $5,566 $1.10 - - - -
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewedonly by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without thewritten consent of Sands Investment Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establishonly a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation,with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size andsquare footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, thecompliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or businessprospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, SandsInvestment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group conductedany investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completenessof the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
By receipt of this Memorandum, you agree that this Memorandum and its contentsare of confidential nature, that you will hold and treat it in the strictest confidence andthat you will not disclose its contents in any manner detrimental to the interest of theOwner. You also agree that by accepting this Memorandum you agree to releaseSands Investment Group and hold it harmless from any kind of claim, cost, expense,or liability arising out of your investigation and/or purchase of this property.
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Exclusively Marketed By:
Sands Investment Group1017 Chuck Dawley Blvd, Suite 200
Mount Pleasant, SC 29464844.4.SIG.NNN
www.SIGnnn.com
Jeff AschierisLic # 98467
843.410.2706 | [email protected]
In Cooperation with JDS Real Estate Services, IncBoR: Jennifer D. Stein – Lic # PB00076638
John KerrLic # 01996892
424.228.1718 | [email protected]