offering memorandum: investment portfolio | north …...1/1/2016 12/31/2020 $42,000 $14.00 3/1/2017...

Offering Memorandum:

Investment Portfolio | North American Dental Group

Tanner Milne, MBA, CCIMDesignated Broker, President

[email protected]

Rich Andrus, MBA, CCIMSenior Vice President

[email protected]

Menlo Group Commercial Real EstateP: 480.659.1777 • F: 866.226.5766menlocre.com

mailto:[email protected]


Confidentiality & Disclaimer

All materials and information received or derived from Menlo Group its directors, officers, agents, advisors, affiliates and/or any thirdparty sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property,compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of theproperty, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Menlo Group its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, asto accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from anysource, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own duediligence to determine these and other matters of significance to such party. Menlo Group will not investigate or verify any such mattersor conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their owninspections and investigations including through appropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. Menlo Group makes no warranties and/or representations regarding the veracity, completeness, orrelevance of any financial data or assumptions. Menlo Group does not serve as a financial advisor to any party regarding any proposedtransaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differfrom actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do notnecessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual andgovernmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certifiedpublic accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regardingthe condition of the property and whether the property complies with applicable governmental requirements should be discussed bythe party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and servicesare marketed by Menlo Group in compliance with all applicable fair housing and equal opportunity laws.


Table ofContents


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P: 480.659.1777 • F: 866.226.5766menlocre.com

3

4

Executive Summary

Tenant Profile

Rent Roll

Property Information

Advisor Bios

5

6

37


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PROPERTY/LOCATION HIGHLIGHTS:

• Strong National Dental Tenant, North AmericanDental Group

• Portfolio of Ten (10) Sites throughout the Detroit,Michigan area

• 100% Occupancy in each property

• Long-Term Leases in Place with Renewals

• Tenant is Premier Dental Provider throughoutMichigan

• Unique Buildings with Street Frontage

• High Traffic Counts and Easy Visibility for each Site

• Located within areas of Strong Population

PROPERTY SUMMARY

Offering Price:

Blended CAP Rate:

Blended NOI:

Occupancy:

Location:

Building Description:

S

$7,872,699.50

7.57%

$595,699.00

100%

Suburbs of Detroit, MI

A mix of freestanding,

multi-tenant, office and retail

sites. A total of ten (10) separate

sites with a combined size of

more than 38,300 SF.


Executive Summary




Tenant Profiles

• Strong Long-Term Leases in Place

• Premier Dental Provider in Ohio,

Pennsylvania, and Michigan

• National Credit Tenant

• Over 70 Practices

• Fast Growing Organization

• Inc. 500 Company


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North American Dental Group

The North American Dental Group is a dental service organization (DSO) partnering with practices so theycan realize their true equity potential.

NA Dental Group provides comprehensive practice support so doctors can focus on patients. Their affiliateddentists independently diagnose and treat patients while NA Dental Group's service organization, NADGprovides the facilities, equipment, and management support. This includes insurance processing, marketing,information technology, and human resources.

NADG has a network of over 70 practices. The organization has doubled in size since September 2014 andcontinues to grow with plans to be at 125 practices at the end of 2015. These practices are both brandedand non-branded. NADG has been an Inc. 500 company for the last two years improving its ranking from441 in 2013 to 337 in 2014.

TENANT HIGHLIGHTS



Investment Portfolio | National Dental Tenant

Rent Roll


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TENANTNAME

UNITNUMBER

LEASESTART

LEASEEND

ANNUALRENT

PRICEPER SF/YR

Warren Dental Care (NADG) 9/1/2014 8/31/2024 $75,000 $15.00

Mobility Plus 6/1/2014 5/31/2017 $19,000 $10.00

Style Tailor 1/1/2017 12/31/2019 $12,600 $9.00

Baskin Robbins 6/1/2015 5/31/2019 $17,000 $10.00

NADG 9/1/2014 9/30/2024 $42,500 $17.00

NADG 9/1/2014 9/30/2024 $42,000 $20.00

NADG 9/1/2014 9/30/2024 $49,400 $19.00

NADG 9/1/2014 9/30/2024 $70,500 $15.00

MTM MTM $7,800 $13.00

9/30/2020 $13,000 $13.00

9/1/2014 9/30/2024 $43,500 $15.00

MTM MTM $23,200 $8.00

$42,000 $14.00

1/1/2016 12/31/2020 $42,000 $14.00

3/1/2017 3/1/2027 $42,000 $14.00

Custom Eye

Advanced Warren Lab

NADG

Associates - Psychology

NADG

NADG

NADG

NADG

11552 E 12 Mile, Warren

11554-15560 E 12 Mile, Warren

11554-15560 E 12 Mile, Warren

11554-15560 E 12 Mile, Warren 69089

N Main Street, Richmond 31120 Harper

Ave, St. Clair Shores 226 W State St,

Montrose

27600 Hoover, Warren



233 SB Gratiot, Mt. Clemens

233 SB Gratiot, Mt. Clemens

23528 John R Rd, Hazel Park

1658 Middlebelt Road, Garden City

23845 Van Dyke, Centerline

667 Martin Luther King Jr. Blvd, Pontiac 8/12/1998 7/31/2018 $67,500 $12.50

Totals/Averages $609,000 $13.94



Tanner Milne, MBA, CCIMDesignated Broker, [email protected]

Rich Andrus, MBA, CCIMSenior Vice [email protected]



PROPERTY INFORMATIONPROPERTY INFORMATION


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• Approximately 10,000 SF Retail Site made-up of three (3)buildings located at 11552 - 11560 Twelve Mile, Warren, MI48093. North American Dental Group (NADG), Mobility Plus,Style Tailor, and Baskin Robbins are the Tenants and Leasesexpire between 5/31/2017 and 8/31/2024.

PROPERTY SUMMARY

Building Address: 11552 - 11560 Twelve MileWarren, MI 48093

Building Size:

Lot Size:

APN:

Approx. 10,000 SF

0.755 Acres

13-15-226-034

Year Built: 1964

Zoning:

Tenant:

Lease Expires:

MZ

NADG, Mobility Plus, StyleTailor, Baskin Robbins

5/31/2017 - 8/31/2024

11552 - 11560 Twelve Mile, Warren, MI 48093


Executive Summary

