old pearsall retail center€¦ · “over 1,000 vendors... traders village san antonio is a swap...

The information contained herein was obtained from sources deemed reliable; however, Retail Solutions makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice. Retail Solutions, which provides real estate brokerage services, is a division of Reliance Retail, LLC, a Texas Limited liability company.

ALAN P. RUST, [email protected]

512.474.5557RYAN [email protected]

512.474.5557

OLD PEARSALL RETAIL CENTERFOR SALE: MULTI-TENANT NNN RETAIL INVESTMENT

6338 Old Pearsall Road - San Antonio, Texas 78242

for more information:

www.retailsolutions.us

Area Retailers

Tenants Include

STABILIZED NNN MULTI-TENANT INVESTMENTADJACENT TO MCDONALDS

RENT INCREASES IN PRIMARY TERMS FOR ALL TENANTS

PRICE: $2,327,000 CAP RATE: 8.75%

BUILT: 2009 GLA: LOT SIZE:

10,012 SF

1.1 Acres

Very good mix of local and credit tenants - staggered lease expirationsJust off Loop 410, one exit west of IH-35

Excellent Visibility and Access

Flea Market

1,000 vendors

300 acres

Carnival rides

RV park


Old Pearsall Road Retail CenterFOR SALE: Multi-Tenant Retail Investment

6338 Old Pearsall Rd - San Antonio, Texas 78242

Confidential Memorandum and Disclaimer

Please note that the use of this Offering Memorandum and the Information (“Information”) provided is subject tothe terms, provisions and limitations of the confidentiality agreement which we have provided to you (“Buyer”) andrequested an executed copy.

Brokerage Relationships: By taking possession of and reviewing the information contained herein, Buyer acknowledges that the Listing Team of Retail Solutions (“Brokers”) are acting as Seller’s Agent in the disposition assignment for the property. Buyer acknowledges receipt of the form entitled Information About Brokerage Services.

Non-disclosure of Information: By taking possession of and reviewing the Information contained herein, Buyer agrees not to disclose, permit the disclosure of, release, disseminate or transfer any of the Information obtained from Broker or the Property owner (“Owner”) to any other person or entity except as permitted herein. Buyer shall take all appropriate precautions to limit the dissemination of the Information only to those persons within the firm who need to know the Information. The phrase “within the firm” shall be deemed to include outside attorneys, accountants and investors.

Disclaimer and Waiver: By taking possession of and reviewing the Information contained herein, Buyer understands and acknowledges that neither Brokers nor Owner make any representations or warranty, expressed or implied, as to the accuracy or completeness of any Information provided. Neither the Broker or the Owner shall have any liability whatsoever for the accuracy or completeness of the Information contained herein or any other written or oral communication or Information transmitted or made available or any action taken or decision made by the Buyer with respect to the Property. Buyer understands and acknowledges that they should make their own investigations, projections and conclusions without reliance upon the Information contained herein. Buyer assumes full and complete responsibility for confirmation and verification of all information received and expressly waives all rights of recourse against Owner, Brokers and Retail Solutions.


Investment OverviewPROPERTY DESCRIPTION

Property Address

Location

County

Gross Leasable Area

Occupancy

Year of Construction

Number of Buildings

Number of Tenants

Lease Type

NNN

6338 Old Pearsall Road, San Antonio, TX 78242

On Old Pearsall Road (200 yards NE of Loop 410). The Old

Pearsall Road Exit off of Loop 410 is the 1st exit W of IH-35

Bexar

10,012 SF

86.7%

2009

1

7

NNN

$5.85 PSF (2012 actual)

FINANCIALSPrice

Capitalization Rate

Terms

$2,327,000

8.75%

Cash to Seller

The Old Pearsall Retail Center is a very attractive property that enjoys excellent visibility and access. The property sits directly adjacent to a McDonalds restaurant and approximately 200 yards from the Old Pearsall Rd. exit off of Loop 410 (this exit is the first exit on Loop 410 West of the IH-35 interchange). All six of the current tenants have NNN leases and they all have at least one base rent increase scheduled in their respective primary lease terms. The Money Box, Fred Loya Insurance and Subway leases are all backed by strong corporate credit. The Dominos franchisee is a successful operator with a number of stores. “The property has one available suite (1,332 SQ. FT.) with a recently completed and never used “white box” finish out. The space now has a brand new ADA compliant restroom, HVAC, perimeter sheet rock walls , lighting and drop ceiling. The seller will provide a master lease and be responsible for up to one year of base rent + NNN expenses for this space. As of 2011 there were more than 103,000 people with average household incomes over $43,000 within 5 miles of the property.

½ a mile to Traders Village (www.tradersvillage.com) a 300 acre flea market with 1,000 vendors carnival rides and an RV park. Traders Village has two other locations that together draw about 5.5 million people a year. This location was newly constructed and opened in 2012.






Investment Overview (continued)

TaxesInsurance

LawnUtilities

Property RepairsWaste Service

Property Management

Total

$31,257 ($3.12 PSF)$3, 973 ($0.40 PSF)$4,047 ($0.40 PSF)$8,250 ($0.82 PSF)$869 ($0.09 PSF)$2,292 ($0.23 PSF)$7,882 ($0.79 PSF)

$58,570* ($5.85 PSF)(*2012 Actual)

EXPENSES

Alan P. Rust, [email protected]

Ryan [email protected]

512.474.5557

For More Information:


INCOME & EXPENSE*Base Rent

Reimbursements

Total Gross Income

Operating Expenses

Net Operating Income

$203,551

$58,570

$262,121

($58,570)

$203,551

*Income: Current as of January 2013 + Seller’s master lease on Suite 105Expenses: 2012 Actual




Photos




Property Highlights

• EXCELLENT LOCATION

Located on Old Pearsall Road

200 Yards NE of Loop 410

The Old Pearsall Road Exit off of Loop 410 is the 1st exit W of IH-35

• TRAFFIC COUNTS : Old Pearsall Rd: 8,144 VPD (City of San Antonio, 2009) Loop 410: 50,000 VPD (TXDOT, 2010)

• McDonalds is located next door, east of the subject property

• “One of the largest and fastest growing providers of short-term loans and financial

services in the United States, Canada and the United Kingdom.” - www.speedycash.com

• 0.5 miles from Traders Village

“Over 1,000 vendors... Traders Village San Antonio is a swap meet, treasure hunt, shopping com-plex, county fair and festival attraction all rolled into one.” - www.tradersvillage.com

This is the third Traders village in the chain. The other two locations reportedly get a combined 5.5 million visitors a year. In addition to being all the things listed above the property also has an RV park with cabins making this a tourist destination.

DEMOGRAPHIC SNAPSHOT1 miles 3 miles 5 miles

Population 9,632 44,381 103,151

2016 Projected Growth 15.5% 15.0% 13.8%

Average HH Income $37,625 $42,713 $43,118





Maps


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Site Plan


512.474.5557




Demographics

Basic Summary Report

STI Popstats 4Q 2011

6338 Old Pearsall Rd San Antonio, TX 78242

11 January 2013 Coordinates Longitude: -98.622522Latitude: 29.340121

1 MILE 3 MILE 5 MILERING RING RING

3.14 SQ/MI 28.27 SQ/MI 78.53 SQ/MI

Data Source: © 2007 Pitney Bowes MapInfo. All Rights Reserved. Page 1

POPULATION2000 Population 8,411 37,597 86,8612010 Population 9,365 43,703 101,4722011 Population 9,632 44,381 103,151

% Growth 2000 - 2010 10.2% 14.0% 14.4%% Growth 2011 - 2016 15.5% 15.0% 13.8%

HOUSEHOLDS2000 Households 2,042 9,929 22,9912010 Households 2,413 11,534 27,1522011 Households 2,487 11,750 27,726Avg Household Size 3.7 4.7 3.8

EMPLOYMENT2011 Total Employers 25 232 1,0152011 Workplace Employees 367 13,457 50,162

RACE% White 7.1% 15.3% 16.9%% Hispanic 89.4% 78.5% 76.3%% Black 2.2% 4.1% 4.6%% Asian 0.5% 0.8% 0.8%% Other 0.8% 1.3% 1.5%

White 681 6,774 17,483Hispanic 8,608 34,845 78,667Black 216 1,816 4,703Asian 48 350 793Other 79 596 1,505

HOUSING% Renter Occupied Housing Units 33.5% 40.7% 41.5%% Owner Occupied Housing Units 66.5% 59.3% 58.5%

INCOME2011 Median Household Income $30,167 $34,578 $35,0772011 Average Household Income $37,625 $42,713 $43,1182011 Per Capita Income $10,603 $12,815 $12,741

Basic Summary Report

STI Popstats 4Q 2011

6338 Old Pearsall Rd San Antonio, TX 78242

11 January 2013 Coordinates Longitude: -98.622522Latitude: 29.340121

1 MILE 3 MILE 5 MILERING RING RING

3.14 SQ/MI 28.27 SQ/MI 78.53 SQ/MI

Data Source: © 2007 Pitney Bowes MapInfo. All Rights Reserved. Page 2

COLLEGE EDUCATION (Age 25+)% < 9th Grade 21.7% 16.5% 16.3%% Some High School 17.5% 15.2% 15.3%% High School 36.7% 36.3% 33.8%% Some College 17.1% 20.3% 20.1%% College - Associates Degree 3.7% 5.6% 5.8%% College - Bachelors Degree 3.2% 4.8% 6.0%% College - Masters Degree 0.1% 0.9% 1.8%% College - Professional Degree 0.1% 0.4% 0.7%% College - Doctorate Degree 0.0% 0.2% 0.2%

AGEMedian Age 24.2 24.1 25.8Median Age Male 23.7 23.5 24.7Median Age Female 24.6 24.8 26.7




Listing Team

Ryan Hoff |Vice [email protected]

Ryan Hoff is a licensed Texas Real Estate Broker, and has been active in commercial real estate throughout Texas for almost a decade. Prior to joining Retail Solutions, Ryan worked for national investment sales firm, Marcus & Millichap, in a number of capaci-ties. In 2005, he joined their National Retail Group where he began selling single and multi-tenant retail assets across the state of Texas. He specialized in the disposition of investment properties from $1-20 Million, ranging from STNL sale-leasebacks to national credit-tenant leased shopping centers. He also joined their National Self Storage Group in 2009, and in 2010 he joined Marcus & Millichap Capital Corporation. While with MMCC, Ryan identified debt and equity placement opportunities from $1-100 Million across the country. Before joining M&M, Ryan sold and leased commercial properties in Austin for Henry S. Miller Commercial.

Ryan is a proud graduate of The University of Texas at Austin, where he received his BBA in Finance from The McCombs School of Business.

Alan Rust, CCIM | Principal [email protected]

Alan Rust, CCIM, specializes in the sale of retail property throughout Texas and is cur-rently responsible for investment sales statewide for Retail Solutions. Alan has had a diverse professional career which has spanned more than 25 years. Alan has done business and negotiated deals across the United States and internationally. His respon-sibilities have included the negotiation of retail acquisitions, dispositions, IRS 1031 exchanges, development opportunity identification, site selection and development of risk mitigation strategies. Previously Alan was with Sperry Van Ness, a national broker-age firm, where he specialized in the sale of retail Investment real estate. Alan has been named an Austin Business Journal Heavy Hitter, Costar Power Broker and Denver Busi-ness Journal Heavy Hitter.

In addition, Alan has earned the prestigious CCIM (Certified Commercial Investment Member) designation by completing an extensive course of study, examinations and a resume of sufficient real-world commercial investment real estate experience. A CCIM is part of a global commercial real estate network with members across North America and more than 30 countries. This exclusive professional network has enabled CCIM mem-bers to close thousands of transactions annually, representing more than $200 billion in value. As a result, the experts who possess the CCIM designation are an extremely valuable resource for commercial real estate owners, investors and users.



old pearsall retail center€¦ · “over 1,000 vendors... traders village san antonio is a swap...

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