executive summary - loopnet · 2019. 6. 6. · for information contact: david lasser, sior/ccim...

All information furnished is from sources deemed reliable and is subjected to errors, omissions, change of other terms and conditions, prior sale, lease or financing or withdrawn without notice.

For Information Contact: David Lasser, SIOR/CCIM 219-796-3935 [email protected]

COMMERCIAL IN-SITES • 1100 WEST U.S. HIGHWAY 30 • MERRILLVILLE, IN 46410 • 219-795-1100 • www.commercialin-sites.com

OFFERING SUMMARYSale Price: $1,690,000

Price / SF: $140.83

Building Size: 12,000 SF

Lot Size: 4.09 Acres

Zoning: PBP

Taxes: $10,060.54

NOI: $161,444

Cap Rate: 9.0

Occupancy: 100%

PROPERTY OVERVIEWThis is a newly constructed built to suit building Vacuum Truck Rentals currently in a 10year lease with 8 years remaining. 1,800 SF office with 10,200 SF warehouse sitting on 4.09acres fully fenced. Building is steel framed and steel sided with 20 foot eaves. Featuresinclude 7 (12'x14') overhead doors. Exterior features are extensive parking area withfencing and 2 gates. Well and sewer. Located in Hobart with a Merrillville mailing address.2018 pay 2019 taxes $10,060.54

This is a nearly NNN lease where by owner pays casualty insurance, landlord accounting,legal and property management (if desired) This is a 10 year lease with 2 5-year options torenew with approximately 2% escalation with the tenant paying base rent, all taxes,grounds services and maintenance of property plus parking area land lease rent. 1/1/19commenced year 3 of the lease term.

LOCATION OVERVIEWSituated just south of the stop light at U.S. Highway 30 and Grand Boulevard. 1/2 mile eastof Albanese Candy, 1 mile west of Deep River Water Park. 2 1/2 miles east of the US 30/I-65 interchange. Good highway access via US Highway 30 to I-65, I-80/94 and I-90. Closeproximity to 6 million square feet of retail that includes Walmart, Sam's Club, Big Lots,Target, Home Depot, Southlake Mall, Costco and so much more! Surrounding businessesinclude: Speedway, Birdy's Off 30 Truck Services, Atlas Bobcat, Downing Plumbing andNorthern Indiana Federal Credit Union.

EXECUTIVE SUMMARY

FOR SALE | INDUSTRIAL PROPERTY8211 Grand Boulevard

Hobart, IN 46410




INVESTMENT OVERVIEWPrice $1,690,000

Price per SF $140.83

CAP Rate 9.0%

OPERATING DATA2019 Total Annual Base Rent $145,560

2019 Parking Land Lease Rent $23,712

Total Scheduled Income $169,272

Vacancy Cost $0.00

Gross Income $169,272

Operating Expenses (insurance, prof fees, 3% property management) $7,828

Net Operating Income $161,444

Pre-Tax Cash Flow (75% LTV at 5.5% over 20 years) $50,625

Cash-on-Cash Return (yr 1) 11.31 %

TENANT INFORMATION VACUUM TRUCK RENTALS, LLCOccupancy: 12,000 SF (100% of Building)

Lease Start Date/End Date: Jan 1, 2017 - Dec 31, 2026

2019 Total Annual Base Rent per SF: $12.13/SF

2019 Parking Land Lease Rent per SF: $1.98/SF

Expenses: All taxes and property and building maintenance

FINANCIAL SUMMARY


Hobart, IN 46410




COMPANY OVERVIEW

Vacuum Truck Rentals, LLC (VTR) was formed in 2000 by Payton Lockey and B.T. Steadman in response to marketconditions in Louisiana and Mississippi. VTR started with thirteen pieces of equipment and one location in Jackson, MS,but high demand during the first year led them to open a Houston, TX location. With an unrelenting focus on customerservice and quality equipment, VTR quickly became the leading vacuum truck rental company in the Gulf South. Thisbusiness model was the foundation for expansion throughout the eastern half of the U.S. Today, VTR has 15 locationsand a fleet of over 600 units. Everyone on the VTR team is focused on one a single goal: the customer!Our motto is “Rent from the Best”, and we take that to heart. VTR works hard to provide our customers, large or small,with the best equipment, the best customer service and the best rental experience in the industry.

TENANT - VACUUM TRUCK RENTALS


Hobart, IN 46410




ADDITIONAL PHOTOS


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SURVEY


Hobart, IN 46410




AS BUILT


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BUILDING PLAN


Hobart, IN 46410




DRONE AERIALS


Hobart, IN 46410




GIS IMAGE


Hobart, IN 46410




LOCATION MAPS


Hobart, IN 46410




POPULATION 1 MILE 5 MILES 10 MILESTotal population 864 38,838 283,159

Median age 37.0 38.9 37.0

Median age (Male) 37.0 37.5 35.4

Median age (Female) 36.9 41.1 38.6

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILESTotal households 324 14,402 105,047

# of persons per HH 2.7 2.7 2.7

Average HH income $66,143 $70,926 $60,367

Average house value $257,925 $160,178

* Demographic data derived from 2010 US Census

DEMOGRAPHICS MAP & REPORT


Hobart, IN 46410

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2019 FACT SHEET

2019 FACT SHEET

FOR MORE INFORMATION PLEASE VISIT ASTATETHATWORKS.COM

TAXES & FACTORS INDIANA Illinois Kentucky Michigan Ohio

Corporate Income Tax Rate (a) 5.75% 9.50% 4-6% 6.0% 0-0.26%

State Apportionment of Corporate Income

Single Sales Factor

Single Sales Factor

Sales, Property, & Payroll with Sales Double-Weighted

Single Sales Factor

Gross Receipts Tax (known as: Commercial Activity Tax)

Individual Income Tax Rate (a) 3.23% 4.95% 2% - 6% 4.25% 0% - 4.997%Local Average Individual

Income Tax Rate (a) 1.56% NONE 2.08% 1.70% 2.25%

Local Average & Sales Tax Rate 7.00% 6.25% 6.00% 6.00% 5.75%Unemployment Insurance Tax

Rate times (x) State Wage Base $237.50 $447.12 $275.40 $243.00 $243.00

Workers' Compensation Premium Rate Index

(Per $100 of Payroll)$1.05 $2.23 $1.52 $1.57 $1.45

Mean Hourly Wage (b) $22.32 $28.08 $21.66 $25.16 $23.35Cost of Living Index 95.2 100.6 93.4 90.6 91.7

Right To Work YES No Yes YES Noa) The eff ective local income tax rate is calculated by taking the mean of the income tax rate in the most populous city and the capital city. (b) QCEW 2017 - Statewide,Total-all industries,Private,All establishment sizes,Average Annual Pay/2080

Source: Tax Foundation (9/2018). Federation of Tax Administrators (State Apportionment of Corporate Income, 1/2018). Oregon Dept. of Consumer & Business Services (Oregon Workers’ Compensation Premium Rate Ranking, 10/2016). Various state unemployment insurance agencies. ADP FastFacts. PayrollTaxes.com. Bureau of Labor Statistics - Quarterly Census of Employment & Wages (9/2018). Emsi 2018.3 (using C2ER Cost of Living data). National Right To Work Legal Defense Foundation. Area Development (9/2018). Chief Executive (5/2018). CNBC (7/2018). Forbes (11/2017). US News (2/2018). S&P Global Rating (4/2018). NASBO - The Fiscal Survey of States (12/2017).

executive summary - loopnet · 2019. 6. 6. · for information contact: david lasser, sior/ccim...

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