cinetopia - capital pacific cinetopia - vancouver rent roll tenant info term tenant name size year...

Cinetopia

NNN Cinetopia in Vancouver, WA11700 Se 7th St, Vancouver, WA 98683

JOHN [email protected] | (415) 274-2715 CA DRE# 01440360

CHRIS [email protected] | (415) 274-2701 CA DRE# 01002010

SEAN [email protected] | (503) 675-8378 WA BRE# 47330


RENTABLE SF . . . . . . . . . . 36,427 SF

PRICE PER SF. . . . . . . . . . . $241

PRICE PER SF (LAND). . . . $66.52

APPROX. LAND AREA. . . . 131,986 SF

LEASE TYPE. . . . . . . . . . . . . Absolute NNN

YEAR BUILT. . . . . . . . . . . . . .2005

PARKING*. . . . . . . . . . . . . . 188 Spaces or 5.1/1000

*Parking is approximate and based on a manual count

CINETOPIA IS A FREESTANDING SINGLE TENANT ABSOLUTE NNN LEASED PROPERTY LOCATED IN VANCOUVER, WA. The offering presents an opportunity to acquire an Absolute NNN Lease

with 17 years remaining on the primary term. Starting on January 1st,

2017 there are 10% rental increases every 5 years with four 5-year options

remaining. Cinetopia offers a full service cinema experience allowing

moviegoers to enjoy fine dining with first class seating accommodations. The

Company currently operates four locations, two in Vancouver, Washington, one in

Beaverton, Oregon and one in Kansas City, Kansas.

The Property is located directly off of Interstate 205, a major north-south thoroughfare with in excess

of 120,000 vehicle trips daily. Cinetopia benefits from a dense population of approximately 225,000

residents within a 5 mile radius. The Property is located in a dense retail corridor with the following

National Tenant’s nearby: Fred Meyer, Trader Joe’s, Petco, Starbucks, Burger King, Starbucks, Dollar

Tree and Party City.

PRICE: $8,230,000CAP: 8.00%

Investment Highlights

ADDRESS:11700 SE 7th St, Vancouver, WA 9868

2017 CAP: 8.80%

CINETOPIA - VANCOUVER, WA | 2

10% BUMPS EVERY 5 YEARS

17 YEARS REMAIN

LONG TERM ABSOLUTE NNN LEASE

17 years remain on the initial lease term with four 5-year options.

10% RENTAL INCREASES

Starting on January 1st, 2017 there are 10% annual rent increases every 5 years, including renewal periods.

AMPLE PARKING

Cinetopia features 188 parking stalls with a parking ratio of 5.1 per 1,000.

SOLID DEMOGRAPHICS

The Property benefits from a dense population of approximately 225,000 people earning an average household income of over $65,000 within a 5 mile radius.

HIGH TRAFFIC COUNTS

Cinetopia benefits from its close proximity to Interstate 205 where 120,000 vehicles pass by daily.

Investment Highlights


THIS CINETOPIA

LOCATION HAS FIVE

GRAND AUDITORIUMS

AND THREE LIVING

ROOM THEATERS

Photos


Site Plan

SITE PLAN KEY

PARCEL OUTLINE:

RENTABLE SF: 36,427 SF

APPROX. LAND: 131,986 SF

PARKING: 188 SPACES (5.1/1,000)

Site Plan Not To Scale

TROPICAL GARDEN DINING

SE 7th Street

SE 1

17th

Ave

nue

GRAND AUDITORIUM

GRAND

GRAND

GUEST

RESTAURANT DINING ROOM

FIRE

WINE TASTING

ROOM

CONCESSIONS

KITCHEN

WINE BAR

PIANO

GRAND AUDITORIUM

2

GRAND AUDITORIUM

LIVING ROOM

THEATER 6

LIVING ROOM

THEATER 7

LIVING ROOM

THEATER 8


Cinetopia - VancouverIncome & Expense

PRICE $8,230,000Capitalization Rate: 8.00%2017 Capitalization Rate: 8.80%

Price Per Foot: $226

NET OPERATING INCOME SUMMARYPlus: STABILIZED INCOME Per SFScheduled Rent: 10/1/2014 $18.08 $658,600Equals: Effective Gross Income $18.08 $658,600

Less: OPERATING EXPENSES Per SFCAMS NNNProperty Taxes NNNInsurance NNNTotal Operating Expenses NNN -

Equals: NET OPERATING INCOME $658,600

9/2/2014 [ <www.CapitalPacific.com>]

Financial Summary

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.


Cinetopia - VancouverRent Roll

TENANT INFO TERM

Tenant Name Size Year Monthly Rent PSF Annual Rent PSF Cap Rate

Cinetopia 36,427 2012 $54,883 $1.51 $658,600 $18.08 8.00%2017 $60,372 $1.66 $724,460 $19.89 8.80%2022 $66,409 $1.82 $796,906 $21.88 9.68%2027 $73,050 $2.01 $876,597 $24.06 10.65%

Option 1 2032 $80,355 $2.21 $964,256 $26.47 11.72%Option 2 2037 $88,390 $2.43 $1,060,682 $29.12 12.89%Option 3 2042 $97,229 $2.67 $1,166,750 $32.03 14.18%Option 4 2047 $106,952 $2.94 $1,283,425 $35.23 15.59%

Current Totals: 36,427 $54,883 $1.51 $658,600 $18.08 8.00%


comments: Absolute NNN Lease, guaranteed by Cinetopia Progress Ridge LLC, Cinetopia Holdings LLC and Rudyard Coltman, please contact brokers for details. Tenant reports sales annually. 10% rental increases on January 1, 2017 and every 5 years after. There are four 5-year options with 10% rental increases at each renewal.

RENT SUMMARY

9/2/2014 [ <www.CapitalPacific.com>]

Rent Roll



ABOUT CINETOPIA

Cinetopia is a luxurious and technologically advanced theater located in Kansas, Oregon, and Washington. Cinetopia features a movie theater, food and restaurant, and a wine bar. Each of their auditoriums feature the industry’s finest comforts with plush Ultra Leather extra wide seats, extra leg room, and excellent stadium viewing. Both the Grand Auditoriums and exclusive GXL presentation offer luxury seating and Digital Super High Definition. The Living Room Theaters create a private “skybox” type of experience.

In addition, these theaters offer live pre-show music Friday-Saturday and In-theater restaurant service daily. You may purchase unique and classic concessions and use a special tray that attaches to your arm rest. Klipsch KPT-MCM-4-T Grand four way speaker system – The world’s first all horn system is Klipsch’s highest end system. It is regarded by many as the finest speaker system in the world. This is an exclusive theater audio offering in the Portland / Vancouver area.

CINETOPIA HAS BEEN

AT THIS LOCATION

SINCE 2005

Cinetopia


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NE 28th Street

NE 18th Street

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SE 1

92nd

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SE Mill Plain Boulevard

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205

205

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14

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WASHINGTONOREGON

CASCADE PARK PLAZA

WESTFIELD VANCOVER

ORCHARDS MARKET CENTER

VANCOUVER PLAZA

PORTLAND

120,

000

DA

ILY

66,082 DAILY


Vancouver, WA

Location

CINETOPIA

TRAFFIC COUNTS IN EXCESS OF

66,000 VPD ON SE MILL PLAIN BLVD

Regional Map

Se mill plain blvd

Portland

Vancouver


OVERVIEWVancouver is the county seat of Clark County and forms part of the Portland-Vancouver metropolitan area, the 23rd-largest metropolitan area in the United States.

Location & Demos

VANCOUVER REVITALIZATION

FIRST PROJECTS:

In 1997, the city of Vancouver implemented a 20 year revitalization and redevelopment plan for their downtown core with the first projects consisting of vertical condominium structures near the Uptown Village neighborhood and Esther Short Park.

1-Mile 3-Mile 5-MileMedian $62,090 $67,656 $65,625Average $44,674 $52,145 $50,892

HOUSEHOLD INCOMES

1-Mile 3-Mile 5-Mile2010 13,260 92,262 220,4682012 13,247 93,864 224,6322017 13,516 97,897 235,021

POPULATION

HIGH TECH & SERVICE INDUSTRIESVancouver’s economy includes many high tech and service industry jobs. The City houses the corporate headquarters for Nautilus, Inc., Hewlett Packard, PeaceHealth, Fisher Investments, The Holland (parent company of Burgerville, USA), and Integra (re-locating soon).

Vancouver, WA

INCOME TAX-FREE STATE Vancouver is increasingly popular with retirees, partially because of its proximity to Portland and the absence of a state income tax in Washington.

15 Minutes10 Miles

FUTURE DEVELOPMENT:

LIBRARY SQUARE

Mixed use condominiums, hotels, offices, and a new main library.

THE LUXE AND PRESTIGE PLAZA

Six story office and condominiums buildings.

WATERFRONT REDEVELOPMENT

Approximately 10,000 residential units, retail & office buildings, and city parks. This “Waterfront Vancouver” project is considered to be the largest urban development to date in Vancouver.

DEMOS BY 1, 3 & 5 MILE RADIUS


A unique HUMANRESULTS-DRIVEN client experience

THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS

[ www.CapitalPacific.com ]

JOHN [email protected] | (415) 274-2715 CA DRE# 01440360

CHRIS [email protected] | (415) 274-2701 CA DRE# 01002010



http://www.capitalpacific.com/

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