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Sage CenterROSEBURG, OREGON
CONCEPTUAL SIGNAGE FOR CARD
LOCATED IN MAJOR DAILY-NEEDS RETAIL CORRIDOR DIRECTLY ACROSS FROM FRED MEYER
CONCEPTUAL SIGNAGE FOR CARD
Sage Center940 NW GARDEN VALLEY BLVD, ROSEBURG, OR 97471
CONCEPTUAL SIGNAGE FOR CARD
Overview
THE OFFERING provides the opportunity to acquire a high quality three-tenant asset fully-occupied by a corporate Liberty Tax, Center for Autism & Related Disorders (CARD), and Makenna Beach Tan, all net-leased with annual rent growth. The Property is highly-exposed with frontage on a major daily-needs arterial in close proximity to Interstate-5 on/off ramps and directly across from a Fred Meyer, in Roseburg, Oregon.
LEASEABLE SF6,948 SF
OCCUPANCY100%
AVG. CURRENT RENTS$22.25/SF
PPSF$334
YEAR BUILT2005
PARKING26 Spaces; 3.7/1,000 SF
Investment Summary
6.25%CAP
$2,320,000PRICE
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Overview
FULLY-LEASED BY THREE STRONG TENANTS WITH ANNUAL RENT GROWTH.
UPSIDE PROVIDED BY ANNUAL RENT INCREASES OF ALL TENANTS AND REIMBURSEMENT OF 3RD PARTY MANAGEMENT NOT CURRENTLY COLLECTED.
INCREASED DRAW TO THE TRADE AREA PROVIDED BY DENSE NUMBER OF NATIONAL RETAILERS AND A FRED MEYER DIRECTLY ACROSS THE STREET.
HIGH QUALITY CONSTRUCTION WITH 15-YEAR REMAINING ROOF WARRANTY. CLICK HERE FOR MORE INFO.
ZERO RETAIL USE AT THE PROPERTY PROVIDES INSULATION FROM GROWING THREAT OF E-COMMERCE.
CONCEPTUAL SIGNAGE FOR CARD
Investment Highlights
FRONTAGE ON MAJOR TRAFFIC ROUTE CONNECTING DIRECTLY TO I-5
MAKENA BEACH TAN IS AN OWNER-USER AND HAS OCCUPIED THE PROPERTY SINCE INCEPTION; TENANT TO EXECUTE A BRAND-NEW FIVE-YEAR TERM AT CLOSING.
CENTER FOR AUTISM & RELATED DISORDERS (CARD) IS THE WORLD’S LARGEST PROVIDER OF AUTISM TREATMENT WITH 233+ LOCATIONS AND SIX MORE TO OPEN THIS YEAR.
LIBERTY TAX HAS OCCUPIED THE PREMISES FOR 8.5+ YEARS AND PROVIDES A RARE OPPORTUNITY TO ACQUIRE A CORPORATE LOCATION.
STABLE, GROWING ECONOMY SUPPORTED IN LARGE PART BY UMPQUA VALLEY’S GROWING WINE INDUSTRY, WITH AN ESTIMATED $44 MILLION IMPACT ON THE ECONOMY.
Investment Highlights
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Tenant Profiles
Center for Autism & Related Disorders (CARD)
CARD, or rather the Center for Autism and Related Disorders, is the world’s largest and most experienced provider of top-quality, evidence-based autism treatment, and recognized as the third largest non-governmental organization contributing to autism research. CARD focuses on the principles of Applied Behavior Analysis (ABA), the only evidence-based treatment, and has treated tens of thousands of individuals (including parents and therapists), by instilling advanced social, cognitive, and executive function skills.
WORLD’S LARGEST AUTISM TREATMENT PROVIDER
LOCATIONS233, 6 Opening in 2019
YEARS IN OPERATION 29 Years
LibertyTax
Liberty Tax Service is a subsidiary of Liberty Tax Inc. and offers tax preparation services, with 3,000 locations throughout the U.S. and Canada. Liberty Tax offers both online and in-office tax preparation services, and prepares an estimated 2 million tax returns annually. Liberty has been ranked as one of the top franchises in the U.S. by Entrepreneur Magazine and has been included on their Annual Franchise 500 list every year since 1998.
10%
90%
COMPANYOWNED
344 STORES
FRANCHISEE3,266 STORES
MakenaBeach
Makena Beach has operated the highest standard of tanning beds in Roseburg for 14+ years at the current location. Makena Beach is operated by the Chapman family, a local family with a 45-year his-tory in Roseburg and a reputation for high quality construction and property management, and is the current owner of the subject property.
YEARS IN OPERATION 15 Years
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MAJOR RETAIL7-ElevenAlbertsonsBig 5 Sporting GoodsBi-MartCHI Mercy Medical Center Dollar TreeFred Meyer
GoodwillGrocery OutletJcPenneyJoAnn Fabric and CraftsMarshallsMichael’sNova Healthcare
Rite AidRoss Dress for LessSportsman’s WarehouseStaplesStarbucksWalmart Supercenter
NW GARDEN VALLEY BLVD
TOTAL 1-MILE 3-MILES 5-MILES
Businesses 600 1,740 1,925
Employees 7,850 23,159 24,746
Population 5,049 28,991 36,350
KEY 1-MILE 3-MILES 5-MILES
Business Summary
& AMMENITIES
Surrounding Retail & Amenities
NW GARDEN VALLEY BLVD
ROSEBURG REGIONAL AIRPORT
U.S. VETERANS
AFFAIRS DEPT.
VA ROSEBURG
HEALTH CARESYSTEM
ROSEBURGHIGH SCHOOLFIR GROVE
ELEMENTARYSCHOOL
JOHN C. FREMONT
MIDDLE SCHOOL
FULLERTONELEMENTARY
SCHOOL
HUCRESTELEMENTARY
SCHOOL
JOSEPHLANE MIDDLE
SCHOOL
SAGECENTER29,400
VPD
PACIFIC
HIG
HW
AY50,600 VPD
CHI MERCY MEDICAL CENTER
Surrounding Retail & Amenities
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NW
CRO
UC
H STREET
NW GARDEN VALLEY BLVD
0.47ACRES
26 SPACES;3.7/1,000 SF
29,400 VPD
6,948LEASEABLE SF
Site Plan
SITE PLAN NOT TO SCALE
LIBERTY TAXSERVICE
MAKENABEACH
CENTER FOR AUTISM& RELATED DISORDERS
(CARD)
Site Plan
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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Income & Expense
PRICE $2,320,000CAPITALIZATION RATE 6.25%PRICE PER FOOT $334
CASH FLOW SUMMARYSCHEDULED INCOME PER SFBase Rent for the Period of: 8/1/2019 - 7/31/2020 $22.25 $154,568
Rent Increases Over Base Rent $0.05 $355
Operating Expense Reimbursement $4.24 $29,470
Equals: Scheduled Gross Income $26.54 $184,393
Market Vacancy 5% ($1.33) ($9,220)
Total Effective Gross Income (EGI) $25.21 $175,174
OPERATING EXPENSES PER SFCAMS $1.11 $7,718
Property Taxes $2.08 $14,485
Insurance $0.27 $1,896
Management Fee of EGI $0.77 $5,371
Reserves $0.10 $695
Total Operating Expenses $4.34 $30,165
NET OPERATING INCOME $20.87 $145,009
3.0%
5/3/2019 [ <www.CapitalPacific.com> ]ANNUAL RENT GROWTH PROVIDED BY ALL THREE TENANTS
Financial Summary
RentRoll
TO ACCESS THE FULL FINANCIAL SUMMARY INCLUDING RENT ROLL, PLEASE EXECUTE THIS FORM.
Financial Summary
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TENANT Center for Autism and Related Disorders BUILDING SF 3,442 SFLEASE TYPE NNNLEASE COMMENCEMENT 05/01/2019LEASE EXPIRATION 05/31/2024OPTIONS 1, 5-Year option; 180-day notice
Premise & Term
Lease Abstract - CARD
NNNTenant is responsible for their share of common area maintenance, utilities, taxes, insurance, and a management fee. Controllable CAM is capped at a 5% increase year-over-year. Controllable CAM is estimated to mean all operating expenses excluding taxes, insurance, utilities, snow removal, and security (if applicable).
PROPERTY TAXESTenant reimburses their prorated share of Property Taxes.
INSURANCETenant reimburses their prorated share of Landlord’s standard fire and liability insurance policies and is required to maintain their own general liability policy.
UTILITIESTenant pays directly for all separately-metered utilities and reimburses their share of common area utilities to Landlord.
Maintenance& Repair
Expenses
TENANT’S OBLIGATIONSTenant is responsible for all interior maintenance and repair, including, interior light fixtures, switched, wiring, plumbing, appliances, key replacement, doors, windows, and ordinary HVAC maintenance.
LANDLORD’S OBLIGATIONSLandlord is responsible for maintaining all the structural elements of the building, including the roof, exterior walls, foundation, slab, and all parking areas and sidewalks. Landlord is responsible for HVAC replacement throughout the entire term. Landlord to provide a 1-year warranty on all mechanical systems that should fail, including electrical, plumbing, HVAC.
Lease Abstract
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TENANT Makena Tan Inc. (Makena Beach)BUILDING SF 2,301 SFLEASE TYPE NNNTERM 5 YearsLEASE COMMENCEMENT Upon ClosingOPTIONS 3, 5-Year option; 90-day notice*Tenant to execute brand new lease with Buyer upon closing, estimated to be 7/1/2019.
Premise & Term
- Makena Beach
Maintenance& RepairTENANT’S OBLIGATIONSTenant is responsible for all interior maintenance and repair, including interior light fixtures, switches, wiring, plumbing, appliances, key replacement, doors, windows, and ordinary HVAC maintenance – HVAC maintenance not to exceed $500 per occurrence.
LANDLORD’S OBLIGATIONSLandlord is responsible for maintaining the structural elements of the building, including the roof, exterior walls (including exterior painting), foundation, slab, utilities up to the point of entry, and all parking areas and sidewalks. Landlord is responsible for HVAC replacement throughout the entire term and repair outside normal maintenance.
Lease Abstract
NNNTenant is responsible for their share of common area maintenance, utilities, taxes, insurance, and a management fee.
PROPERTY TAXESTenant reimburses their prorated share of Property Taxes.
INSURANCETenant reimburses their prorate share of Landlord’s standard fire and liability insurance policies and is required to maintain their own general liability policy.
UTILITIESTenant pays directly for all separately-metered utilities and reimburses their share of common area utilities to Landlord.
Misc.Provisions
Expenses
EXCLUSIVE USESole right to operate as a tanning salon at the Property.
Lease Abstract
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TENANT WeFile Inc. (Liberty Tax Service)BUILDING SF 1,205 SFLEASE TYPE NNNLEASE COMMENCEMENT 12/22/2010LEASE EXPIRATION 04/30/2021OPTIONS 1, 5-Year option; 90-day notice
Premise & Term
- Liberty Tax Service
CONCEPTUAL SIGNAGE FOR CARD
Lease Abstract
NNNTenant is responsible for their share of common area maintenance, utilities, taxes, insurance, and a management fee.
PROPERTY TAXESTenant reimburses their prorate share of Property Taxes.
INSURANCETenant reimburses their prorate share of Landlord’s standard fire and liability insurance policies and is required to maintain their own general liability policy.
UTILITIESTenant pays directly for all separately-metered utilities and reimburses their share of common area utilities to Landlord.
Maintenance& RepairTENANT’S OBLIGATIONSTenant is responsible for all interior maintenance and repair, including interior light fixtures, switches, wiring, plumbing, appliances, key replacement, doors, windows, and ordinary HVAC maintenance – HVAC maintenance not to exceed $500 per occurrence.
LANDLORD’S OBLIGATIONSLandlord is responsible for maintaining the structural elements of the building, including the roof, exterior walls (including exterior painting), foundation, slab, utilities up to the point of entry, and all parking areas and sidewalks. Landlord is responsible for HVAC repair outside normal maintenance.
Expenses
Lease Abstract
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Q: WHAT CONDITION IS THE ROOF IN, AND WHEN WAS IT LAST REPLACED?
A: The roof was recently replaced in April 2014, and has a 20-year warranty, not expiring until April 2034. A new owner will need to contact Versico Total Roofing to confirm transferability of such warranty.
Q: HAS THERE BEEN ANY ENVIRONMENTAL TESTING PERFORMED AT THE PROPERTY?
A: Yes, a Phase I Environmental Site Assessment (ESA) was performed by Baker Environmental Services in January 2005. No Recognized Environmental Conditions (RECs) were identified, and no further testing required.
Q&
AQ: MAKENA BEACH HAS OCCUPIED THE PROPERTY SINCE CONSTRUCTION, WHY HAVE THEY OPERATED MONTH-TO-MONTH FOR SO LONG?
A: Makena Beach is operated by a portion of the Owning Entity of the Property, and didn’t bother to update their lease, yet will execute a new five-year lease with the Buyer upon close of escrow.
CONCEPTUAL SIGNAGE FOR CARD
Questions & Answers
Questions & Answers
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Roseburg, Oregon
ROSEBURG is located in western Oregon, 73 miles south of Eugene and 97 miles north of Medford. A short drive to the Oregon Coast, Crater Lake, and the Umpqua National Forest, Roseburg offers a bounty of unique experiences including visiting the growing winery and brewery scene, world-class fishing, mountain biking, hiking, rafting, and kayaking. Oregon manufacturers fabricate a wide variety of metal, machinery, paper, wood, and food and beverage products,providing Oregonians with good paying jobs and economic stability or the state. Roseburg has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 37.3%.
Location
KEY 5 MINS 10 MINS 15 MINS
ROSEBURG CONTINUES TO GROW, with a 10% increase in the number of permits received in 2018 from 2017 by the Community Development Department, with a handful of new retail, medical, restaurant, and hospitality uses.
Economy& Growth
POPULATION
5 MINS 10 MINS 15 MINS
2010 9,581 33,537 45,037
2018 9,961 34,734 49,295
2023 10,258 35,700 51,747
2018 HH INCOME
5 MINS 10 MINS 15 MINS
Average $59,487 $58,501 $59,535
Median $43,012 $42,989 $43,165
DriveTime
ROSEBURG HAS EXPERIENCED steady annual growth in population, yet the number of housing developments has not kept pace over the last ten years, and the Roseburg City Council and Community Development departments are considering annexing 169 acres called Charter Oaks, that would permit the city to build an estimated 1,525 additional single-family housing units.
UrbanGrowth Boundary
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Contact Us
KEVIN [email protected]: 503.675.7726
SEAN [email protected]: 503.675.8378
We’d love to hearfrom you.
The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC.
SCOTT [email protected]: 503.675.8383
MICHAEL [email protected]: 503.675.8381
PETER [email protected]: 503.607.0197
MICHAEL [email protected]: 503.210.4069
LANCE [email protected]: 503.607.0207
Contact Us