offering memorandum - loopnet · the ogden-clearfield metro is situated in northern utah between...

MARBLE MOTEL TREMONTON116 N Tremont St • Tremonton, UT 84337

Offering Memorandum

1

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any 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 and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

MARBLE MOTEL TREMONTON

Tremonton, UT

ACT ID Z0200285

2

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02

STR

Historical P&L

5 Year Pro Forma

5 Year Return

Acquisition Financing

MARKET COMPETITORS 03

Competitive Set Performance

Competitor Data

MARKET OVERVIEW 04

Market Analysis

Demographic Analysis


3


4

INVESTMENT

OVERVIEW


#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Defense Logistics Agency 265

Autoliv Promontory-W 150

Post Consumer Brands LLC 145

Kents Thriftway 120

Alice C Hrris Intrmediate Schl 100

Autoliv Tremonton Facility 100

Bear River High School 85

Bear River Middle School 75

Garland Elementary School 70

Richard L Miller Enterprises 55

North Park Elementary School 53

Fire Department 50

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 5,980 11,809 14,582

2010 Census Pop 5,633 11,129 13,750

2017 Estimate HH 1,915 3,684 4,561

2010 Census HH 1,792 3,461 4,285

Median HH Income $54,563 $55,877 $56,968

Per Capita Income $19,767 $19,597 $20,254

Average HH Income $61,582 $62,716 $64,669

5

VITAL DATA

CURRENT YEAR 1

Price $475,000 Net Operating Income $0 $0

PIP $0 Net Cash Flow After Debt Service 0.00% / $0 0.00% / $0

Down Payment 100% / $475,000 Total Return 0.00% / $0 0.00% / $0

Loan Amount $0

Loan Type Proposed New

Interest Rate / Amortization 0.00% / 0 Years

Price/Room $39,583

Ownership Type Fee Simple

Number of Rooms 12

Rentable Square Feet 4,815

Number of Buildings 1

Number of Stories 1

Year Built 1942

Lot Size 0.34 acre(s)


OFFERING SUMMARY

▪ Ideal for owner/operator

▪ Great opportunity for first time hotelier

INVESTMENT HIGHLIGHTS

This motel is a 12 room, single story, exterior corridor property built in 1942 with plenty of retro charm. It is located just minutes from the main state highway. Recently

updated windows and doors.

INVESTMENT OVERVIEW

6

REGIONAL MAP


7

LOCAL MAP


8

AERIAL PHOTO


9


10

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS


HISTORICAL P&L

11

FINANCIAL ANALYSIS


HISTORICAL P&L

12

MARCUS & MILLICHAP CAPITAL CORPORATION

CAPABILITIES

MMCC—our fully integrated, dedicated financing arm—is committed to

providing superior capital market expertise, precisely managed execution, and

unparalleled access to capital sources providing the most competitive rates and

terms.

We leverage our prominent capital market relationships with commercial banks,

life insurance companies, CMBS, private and public debt/equity funds, Fannie

Mae, Freddie Mac and HUD to provide our clients with the greatest range of

financing options.

Our dedicated, knowledgeable experts understand the challenges of financing

and work tirelessly to resolve all potential issues to the benefit of our clients.

National platform

operating

within the firm’s

brokerage

offices

$5.63 billion

total national

volume in 2017

Access to

more capital

sources than

any other firm

in the industry

Optimum financing solutions

to enhance value

Our ability to enhance

buyer pool by expanding

finance options

Our ability to enhance

seller control

• Through buyer

qualification support

• Our ability to manage buyers

finance expectations

• Ability to monitor and

manage buyer/lender

progress, insuring timely,

predictable closings

• By relying on a world class

set of debt/equity sources

and presenting a tightly

underwritten credit file

WHY MMCC?

Closed 1,707

debt and equity

financings

in 2017

ACQUISITION FINANCING


13


14

MARKET

COMPETITORS


$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$0.80

$0.90

$1.00

Prior Year 3 Prior Year 2 Prior Year 1

ADR Comparison

Hotel/Motel Comp Set

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$0.80

$0.90

$1.00


RevPAR Comparison


COMPETITORS

COMPETITIVE SET PERFORMANCE

The table below summarizes the occupancy, ADR, and RevPAR for the Marble Motel Tremonton and its defined competitive set for

the Prior Year 3 - Prior Year 1 periods.

Source: Smith Travel Research

OCCUPANCY, ADR & RevPAR

Marble Motel Tremonton

Occupancy ADR RevPAR

Year Hotel/Motel Comp Set Penet. Hotel/Motel Comp Set Penet Hotel/Motel Comp Set Penet

Prior Year 3 0.0% 0.0% 0.0% $0.00 $0.00 0.0% $0.00 $0.00 0.0%

Prior Year 2 0.0% 0.0% 0.0% $0.00 $0.00 0.0% $0.00 $0.00 0.0%

Prior Year 1 0.0% 0.0% 0.0% $0.00 $0.00 0.0% $0.00 $0.00 0.0%

% Change 0.0% % 0.0% % 0.0% %

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

80.00%

90.00%

100.00%


Occupancy Comparison



Hotel/Motel 0.0% 0.0% 0.0%

Comp Set 0.0% 0.0% 0.0%

Index 0.0% 0.0% 0.0%


Hotel/Motel $0.00 $0.00 $0.00

Comp Set $0.00 $0.00 $0.00

Index 0.0% 0.0% 0.0%


Hotel/Motel $0.00 $0.00 $0.00

Comp Set $0.00 $0.00 $0.00

Index 0.0% 0.0% 0.0%

15

PRICING AND VALUATION MATRIX

PROPERTY NAMEMARBLE MOTEL TREMONTON



PRICING AND VALUATION MATRIXPRICING AND VALUATION MATRIX




COMPETITOR DATA

New Competitive Supply

See Help page for pipeline definitions

COMPETITORS

16


17

MARKET

OVERVIEW

MARKET OVERVIEW

OVERVIEW

OGDEN-CLEARFIELD

The Ogden-Clearfield metro is situated in northern Utah between the

Wasatch Mountains and the Great Salt Lake, and it consists of Weber,

Davis and Morgan counties. The metro contains 659,000 residents with

more than 345,600 in Davis County. Ogden is the most populous city,

containing 87,700 citizens. The Salt Lake City metro borders to the south

and the state of Idaho is to the north.

▪ Ogden is an important distribution hub, located along the transcontinental railroad system. It is a

national center for east-west rail traffic.

▪ Ogden’s roots in the railroad industry have expanded into military and manufacturing. Hill Air Force

Base, home of the Ogden Air Logistics Center, is a major driver of the economy as the area’s largest

employer. The center offers engineering and logistics management for aircrafts worldwide.

▪ A significant location in the metro is the redeveloped Business Depot Ogden. The center provides

6.5 million square feet of industrial and office space to tenants such as Nutraceutical, Fresenius USA

Manufacturing, ICON Health and Fitness, Petersen Inc. and Kenco Logistic Services.

DEMOGRAPHICS

1

ECONOMY

METRO HIGHLIGHTS

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau


STRATEGIC LOCATION

Strategically located for highway, rail and air access, Ogden sits at the

crossroads of the CANAMEX shipping corridor.

MILITARY PRESENCE

The Hill Air Force Base has an annual economic impact of $3.4 billion with

nearly 25,500 personnel within the base.

POPULATION GROWTH

The expanding economy will help push population growth above the U.S.

average. The metro is forecast to gain 45,000 additional people over the next

five years.

659K

2017POPULATION:

210K

2017HOUSEHOLDS:

31.5

2017MEDIAN AGE:

$68,500

2017 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

37.8U.S. Median:

$56,3009.2%

Growth2017-2022*:

6.8%

Growth2017-2022*:

SOUTHWEST

Tourism Boosts Occupancy in the Southwest; Investors Take Notice

Arizona and New Mexico lead occupancy growth. Rising visitation to the Southwest region contributes to healthy room

demand, supporting strong occupancy gains. Arizona and New Mexico lead the region in occupancy growth, each

registering more than 100-basis-point increases in the rate during the past 12 months. In Arizona, large events hosted

throughout the Phoenix metro and above-average job growth continue to fuel room demand from business and individual

travelers alike. Within New Mexico, the state’s tourism campaign, New Mexico True, continues to drive tourists to the

state. New Mexico posted the greatest increases in occupancy, the average daily rate and RevPAR in the region.

Steady growth in Southwest region fuels bidding for hotels. Strong property performance throughout Arizona and

New Mexico nearly doubled transaction velocity in both states and contributed to an overall 28 percent increase in activity

throughout the Southwest region. In Arizona, buyers focused on assets in the Phoenix metro, Tucson and Sedona while

investors in New Mexico primarily acquired properties located in Albuquerque, Las Cruces and Santa Fe.

19

* Forecast

The Southwest region consists of Arizona, Colorado, Nevada,

New Mexico and Utah.

▪ Room demand remains strong, boosting occupancy. Hotel occupancy in the region rose 60 basis points during the

year to 67.5 percent in June. New Mexico registered the strongest growth, with the rate surging 290 basis points to

62.7 percent. Nevada posted the only decline of the region. Here, occupancy ticked down 40 basis points to 69.9

percent. Part of the decline could be attributed to reduced trips after the Las Vegas shooting in the fall of 2017. In

Colorado, occupancy climbed 30 basis points during the past four quarters to 66.9 percent. The rate ticked up 10

basis points in Denver to 73.4 percent.

▪ ADR and RevPAR growth moderates. Growth in ADR and RevPAR has begun to moderate, though both remain

more than 10 percent higher than the previous cyclical peak. ADR ticked up 1.2 percent during the year ending in the

second quarter to $119.22 while RevPAR rose 2.1 percent to $80.80. Surging occupancy in Arizona and New Mexico

led to even stronger growth in revenue metrics. ADR and RevPAR climbed 1.9 percent and 4.2 percent, respectively,

in Arizona. Revenue gains in Phoenix were slightly less than the state average, with ADR edging up 1.2 percent and

RevPAR increasing 3.7 percent. The average daily rate jumped 6.1 percent in New Mexico, contributing to a 11.2

percent increase in RevPAR.

▪ Investors increasingly target select service hotels. Hotel prices throughout the Southwest region averaged $99,000

per room in June, up 4 percent over the past 12 months as heightened demand elevated property values. Limited

service and independent hotels comprised the majority of transactions, though trading picked up considerably in the

select services segment. Increased demand in the select service segment pushed the average price up 24 percent

during the previous four quarters to $108,600 per key. Cap rates averaged in the mid-8 percent band, roughly 50 basis

points lower than the regional average.

HOSPITALITY NATIONAL REPORT


20

Hotel Room Demand Escalates in Smaller Metros/Towns,

Fueling Occupancy And Boosting Investor Interest

Rising travel predictions favor hotel sector. The accelerating economy,

supported by strong employment growth and rising confidence levels, bodes well

for hotel property performance. Consumer and business confidence remain at

record levels, reinforcing expectations of healthy consumption and business

spending this year. Elevated confidence levels will likely buoy room demand

through the remainder of the year, keeping occupancy at a record high and

supporting RevPAR growth.

▪ Healthy economic momentum and elevated consumer confidence levels have

boosted travel expectations for 2018. Summer travel, in particular, is

expected to rise 6 percent from last year and the majority of these trips will be

to domestic destinations. Rising travel should reinforce hotel occupancy,

which remains at a more than 30-year record high.

▪ Travelers are increasingly seeking hotels in suburban areas and smaller

metros/towns. Occupancy in both locations has picked up considerably in the

past 12 months after holding relatively steady in the prior year. Many local

tourism offices are working vigilantly to lure tourists to these destinations.

▪ Older millennials, particularly in their mid to late 30s, are increasingly planning

family vacations, with 44 percent anticipating to take one this year. This

surpasses the percentage of boomers and Generation Xers who plan to do

the same. Most of these trips will be road trips, potentially supporting demand

for interstate hotels.

* Through 2Q18

Note: Sales $2.5 million and above

Upper upscale and upscale hotels command buyer attention. Healthy

economic growth, improving occupancy and steady gains in RevPAR are driving

investors’ appetite for hotels. During the year ending in the second quarter,

transaction velocity nationwide picked up 4 percent from last year. Increased

competition for hotels and rising revenues elevated property values 6.8 percent

during this same time to $107,700 per room on average.

▪ Trades picked up considerably in upper upscale and upscale hotel properties

during the past 12 months, with the number of sales rising roughly 26 percent

and 17 percent, respectively. Properties under the Marriott and Hilton flags

were particularly popular. Hotels in both segments changed hands with first-

year returns in the high-7 to low-8 percent band on average.

▪ Rising room demand in many of the nation’s smaller markets continues to

drive buyer interest in these areas. Properties in the Southwest and Carolinas

regions were increasingly targeted during the past four quarters, with

transactions rising 51 percent and 23 percent, respectively. In the Southwest

region, demand picked up considerably throughout Arizona and New Mexico

during the past 12 months.

▪ Higher average first-year returns continue to lure investors to the hotel market.

Properties on average trade with cap rates in the mid-8 percent band but can

vary by as much as 200 basis points depending on location and flag.

Source: STR, Inc.



21

New York and Dallas lead construction. Nearly 119,000 rooms were completed nationwide during the

year ending in the second quarter across more than 1,000 hotels. More than 186,800 rooms are underway

and an additional 221,900 rooms are expected to break ground within the next 12 months.

▪ The upscale and upper midscale chain scales are leading the construction pipeline with more than half of

all rooms underway located within these two segments. Construction of independent hotels is picking

up; more than 22,000 rooms are under construction. Nearly 8,800 rooms were completed in independent

hotels during the past four quarters.

▪ New York City and Dallas/Fort Worth had the largest number of deliveries during the prior 12-month

period. In New York, more than 6,500 rooms were completed while 5,900 rooms were placed into

service in the metroplex. These two markets also contain the largest number of rooms underway.

▪ Marriott International and Hilton Worldwide led deliveries during the year ending in June. New rooms

under Marriott and Hilton made up 32.5 percent and 25.6 percent of total supply, respectively.

* Forecast

Sources: Marcus & Millichap Research Services; STR, Inc.

Strong half boosts annual occupancy. Strong room demand throughout the first half of 2018 supported an

80-basis-point increase in occupancy from the same period last year. The healthy increase in the rate

supported a 60-basis-point increase in annual occupancy during the past 12 months to 66.3 percent in

June.

▪ All chain scales recorded occupancy increases during the past four quarters. Independent, luxury and

midscale hotels led increases, with occupancy rates rising 80 basis points in each segment. Luxury

hotels had the highest occupancy overall at 74.6 percent.

▪ Demand picked up considerably for resorts. Occupancy in these hotels jumped 100 basis points during

the prior 12-month period to 70.1 percent in June. Occupancy in Florida, a popular state for visitors

staying in resorts, surged 200 basis points during this time to 74.2 percent.

▪ Occupancy in smaller metros and towns picked up notably during the past four quarters. Here,

occupancy advanced 90 basis points during this time to 57.6 percent following a 20-basis-point increase

in the prior year.



22

Elevated room demand supports RevPAR gains. Rising occupancy is underpinning growth in ADR and

RevPAR. The average daily rate climbed 2.3 percent during the past 12 months to $128.33 while RevPAR

rose 3.3 percent during this same time to $85.05. ADR and RevPAR increased 2.7 percent and 3.1 percent,

respectively, in the prior year.

▪ Economy hotels registered the largest in the average daily rate during the past 12 months, climbing 3.0

percent to $63.02. The increase combined with a 40-basis-point boost in occupancy contributed to

RevPAR edging up 3.7 percent during this time to $36.94.

▪ Independent, luxury and midscale hotels also logged RevPAR gains above 3.7 percent during the past

12 months as strong occupancy improvement supported growth. The highest increase was among

luxury hotels. The rate grew 4.1 percent to $246.49 in this segment.

▪ During the year ending in June, ADR and RevPAR in suburban hotels rose at a faster pace than its urban

counterparts. In the suburbs, ADR and RevPAR climbed 2.4 percent and 3.2 percent, respectively, while

ADR in urban areas edged up 1.4 percent and RevPAR advanced 1.9 percent.

* Forecast

Sources: Marcus & Millichap Research Services; STR, Inc.



23

* Based on TripAdvisor and AAA surveys in May 2018

Sources: Marcus & Millichap Research Services; AAA; STR, Inc.; TripAdvisor



24

** Based on AAA survey in March 2018 *** Based on annual rates ending in June

Sources: Marcus & Millichap Research Services; AAA; STR, Inc.; TripAdvisor



25

Capital Markets

By David Shillington; President of Marcus & Millichap Capital Corporation

▪ Diverging trajectories: short-term vs. long-term rates. With two rate hikes so far in 2018, the Fed

continues to push the federal funds rate upward, directly impacting short-term indices such as Prime

Rate and LIBOR. However, global economic trends and investor sentiments have pushed the long end of

the rate curve higher. The spread between short-term and long-term Treasury yields has been at one of

its narrowest levels in recent history. The trend is affecting hotel loans that are priced using these short-

term indices, such as adjustable rate short-term and construction loans. Conversely, the long-term,

fixed-rate loans maintain favorable pricing. Benefiting from this trend are borrowers using permanent

loans offered by banks and life companies, as well as securitized CMBS lenders.

▪ Asset allocation and lending concentration remain an issue. Many lenders who jumped back into the

lending space during early part of the recovery are still carrying a sizable loan portfolio on their balance

sheet. While construction and permanent loans are gradually being refinanced as they approach

maturity, some banks are taking a cautious stance in increasing their exposure to the hotel sector.

▪ Alternative lenders increasingly active. Seizing the opportunity to gain some of the market share

previously filled by commercial banks, alternative lenders are increasing their presence in the hotel

lending space. These lenders offer a short-term, bridge program designed to help hotel owners and

buyers finance transitional assets. A few will also lend on ground-up construction projects. Borrowers

benefit from the increasing capital flow from these alternative lenders and costs are being kept in check

by increased competition.

Hotel Name State Rooms

Crowne Plaza Grand Rapids

AirportMI 320

Crowne Plaza Jacksonville

AirportFL 317

Surfside Marina TX 281

Holiday Inn Allentown PA 253

The Plaza Hotel & Suites

WausauWI 225

Embassy Suites Pittsburgh

AirportPA 223

Best Western Plus CO 210

Crowne Plaza Cincinnati Blue

AshOH 200

Travelodge Inn & Suites

JacksonvilleFL 193

Comfort Suites DFW North

GrapevineTX 190

Denver’s Best Inn & Suites CO 190

Ramada Florence Center SC 190

The Breakers CA 178

Comfort Inn & Suites NY 166

Ramada Kansas City MO 164

Embassy Suites Williamsburg VA 161

Travelodge Suites Eastgate FL 158

Miami Airport Hotel FL 150

Ramada Geneva Lakefront NY 148

Ramada South Padre Island TX 146

The Hotel Blue NM 140

Hampton Inn Pittsburgh PA 140

Days Inn Orlando FL 139

Recent Marcus & Millichap Transactions

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2017 Experian

Created on October 2018

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Population 6,393 12,702 15,593

▪ 2017 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Daytime Population

2017 Estimate 6,853 11,739 13,333

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Households 2,093 4,071 5,017

▪ 2017 Estimate


Average (Mean) Household Size 3.11 3.17 3.14

▪ 2010 Census


▪ 2000 Census


HOUSING UNITS 1 Miles 3 Miles 5 Miles

▪ Occupied Units

2022 Projection 2,093 4,071 5,017

2017 Estimate 2,074 3,965 4,895

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2017 Estimate

$200,000 or More 1.66% 1.46% 1.42%

$150,000 - $199,000 0.89% 1.39% 2.36%

$100,000 - $149,000 9.58% 10.24% 10.73%

$75,000 - $99,999 16.57% 16.65% 16.72%

$50,000 - $74,999 25.74% 26.20% 25.64%

$35,000 - $49,999 17.69% 17.04% 16.68%

$25,000 - $34,999 8.61% 9.09% 9.43%

$15,000 - $24,999 7.82% 8.53% 8.04%

Under $15,000 11.44% 9.41% 8.96%

Average Household Income $61,582 $62,716 $64,669

Median Household Income $54,563 $55,877 $56,968

Per Capita Income $19,767 $19,597 $20,254

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population 25+ by Education Level

2017 Estimate Population Age 25+ 3,265 6,465 8,167

Elementary (0-8) 3.06% 2.50% 2.08%

Some High School (9-11) 7.31% 7.63% 7.43%

High School Graduate (12) 32.98% 33.45% 33.54%

Some College (13-15) 32.57% 30.65% 30.16%

Associate Degree Only 6.51% 7.36% 7.79%

Bachelors Degree Only 10.89% 12.21% 12.85%

Graduate Degree 5.91% 5.57% 5.60%

26

Income

In 2017, the median household income for your selected geography is

$54,563, compare this to the US average which is currently $56,286.

The median household income for your area has changed by 23.16%

since 2000. It is estimated that the median household income in your

area will be $62,772 five years from now, which represents a change

of 15.04% from the current year.

The current year per capita income in your area is $19,767, compare

this to the US average, which is $30,982. The current year average

household income in your area is $61,582, compare this to the US

average which is $81,217.

Population

In 2017, the population in your selected geography is 5,980. The

population has changed by 37.25% since 2000. It is estimated that

the population in your area will be 6,393.00 five years from now,

which represents a change of 6.91% from the current year. The

current population is 49.85% male and 50.15% female. The median

age of the population in your area is 28.57, compare this to the US

average which is 37.83. The population density in your area is

1,899.76 people per square mile.

Households

There are currently 1,915 households in your selected geography. The

number of households has changed by 44.31% since 2000. It is

estimated that the number of households in your area will be 2,093

five years from now, which represents a change of 9.30% from the

current year. The average household size in your area is 3.11 persons.

Employment

In 2017, there are 1,354 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

42.97% of employees are employed in white-collar occupations in

this geography, and 57.23% are employed in blue-collar occupations.

In 2017, unemployment in this area is 3.17%. In 2000, the average

time traveled to work was 19.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

88.87% White, 0.50% Black, 0.29% Native American and 1.42%

Asian/Pacific Islander. Compare these to US averages which are:

70.42% White, 12.85% Black, 0.19% Native American and 5.53%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 13.75% of the current year

population in your selected area. Compare this to the US average of

17.88%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $158,315 in 2017,

compare this to the US average of $193,953. In 2000, there were

1,018 owner occupied housing units in your area and there were 309

renter occupied housing units in your area. The median rent at the

time was $422.

Source: © 2017 Experian

DEMOGRAPHICS

27

8


DEMOGRAPHICS

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offering memorandum - loopnet · the ogden-clearfield metro is situated in northern utah between...

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