retail investment offering - uta.edu shopping center.pdf · building size: approx. 18,311 bardin...

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Page 1: RETAIL INVESTMENT OFFERING - uta.edu Shopping Center.pdf · Building Size: Approx. 18,311 Bardin Square is located approximately ½ mile south of I-20 in an established densely populated
Page 2: RETAIL INVESTMENT OFFERING - uta.edu Shopping Center.pdf · Building Size: Approx. 18,311 Bardin Square is located approximately ½ mile south of I-20 in an established densely populated

The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by the William C. Jennings Co.The property is offered subject to errors, omissions, change in price and/or terms, or removal from the market without notice.

RETAIL INVESTMENT OFFERING

BARDIN SQUARE130 E. BARDIN

(SEC OF MATLOCK & BARDIN)ARLINGTON, TEXAS

! 18,311 Sq. Ft

! $1,825,000 $99/Sq. Ft.

! 15% below appraised value

! 10.7 % Cap Rate on Proforma

! +47,000 Cars on Matlock Rd.

EXCLUSIVELY LISTED BY:

Jeff Naquin/Walt Jennings

Page 3: RETAIL INVESTMENT OFFERING - uta.edu Shopping Center.pdf · Building Size: Approx. 18,311 Bardin Square is located approximately ½ mile south of I-20 in an established densely populated

The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by the William C. Jennings Co.The property is offered subject to errors, omissions, change in price and/or terms, or removal from the market without notice.

SUMMARY LOCATION

Building Size: Approx. 18,311 Bardin Square is located approximately ½ mile south of I-20 in an established densely populated area of

Price: $1,825,000 Arlington. Matlock Road (traffic count 47,000) is amajor thoroughfare connecting I-20 to the booming

Terms: All Cash suburb of Mansfield (pop. 60,000). Arlington is locatedin the center of the Dallas - Ft. Worth area and has a

Price/Sq. Ft.: $99 population of 365,000. It is the home of Six Flags, Ranger’s Ballpark in Arlington, the under construction

Land Size: 1.503 Acres Dallas Cowboy Stadium and the 2011 Super Bowl. There is currently over $2 billion of construction under

Occupancy: 60% (8 of 12 spaces occupied) way with the stadium and with road improvements. Within a 2 mile radius of Bardin Square along I-20

Cap Rate: 11% proforma is virtually every national retail and restaurant conceptthat is currently in the DFW area.

Parking: 85 spacesDEMOGRAPHICS 3 miles 5 miles

YOC: 1985; renovated 20002008 Population 123,534 340,170

Roof: Completely replaced in 2000 Growth (1990-2000) 42% 32% Avg. Household Income $70,085 $70,422

Zoning: “CS” Community Service

Bay Depths: 50'

Comments: No mineral rights being conveyed.April 2008 MAI appraisal of $2,100,000

Page 4: RETAIL INVESTMENT OFFERING - uta.edu Shopping Center.pdf · Building Size: Approx. 18,311 Bardin Square is located approximately ½ mile south of I-20 in an established densely populated

The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by the William C. Jennings Co.The property is offered subject to errors, omissions, change in price and/or terms, or removal from the market without notice.

MAPS

Page 5: RETAIL INVESTMENT OFFERING - uta.edu Shopping Center.pdf · Building Size: Approx. 18,311 Bardin Square is located approximately ½ mile south of I-20 in an established densely populated

The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by the William C. Jennings Co.The property is offered subject to errors, omissions, change in price and/or terms, or removal from the market without notice.

2008 INVESTMENT PROFORMA

Current Rental Income ($11,610/mo.)Vacancy when Leased ¹ (7,376/mo.)Total Gross Rent at 100% $227,792 Less 10% Vacancy (22,779)Tenant Tax Reimbursement (90%) 34,200 Tenant Insurance Reimbursement (90%) 3,780 Tenant CAM Reimbursement (90%) 46,250 Gross Income $289,243 Less Expenses

Taxes ² $38,000 Insurance 4,200 Utilities 15,000 Repairs & Maintenance 20,000 Administrative 1,250 Management Fee (5%) 10,000

Total Expenses ($4.83/SF)³ $(88,450)Net Operating Income $200,793 Cap Rate 11%

¹ Assumes Suite 104 @ $10/SF; other vacancy @ $13/SF² 2008 valuation of $1,348,800 at projected rates.³ Adjusting for taxes, last 12 months actual expenses are $86,106

Current rent roll @ 60% occupancy minus current expenses equals approximately $107,000 NOI.

RENT ROLL

Page 6: RETAIL INVESTMENT OFFERING - uta.edu Shopping Center.pdf · Building Size: Approx. 18,311 Bardin Square is located approximately ½ mile south of I-20 in an established densely populated

The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by the William C. Jennings Co. The property is offered subject to errors, omissions, change in price and/or terms, or removal from the market without notice.

The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by the William C. Jennings Co. The property is offered subject to errors, omissions, change in price and/or terms, or removal from the market without notice.