west lake mary portfolio - loopnet

3070 - 3074 W LAKE MARY BLVD, LAKE MARY, FL 32746

West Lake Mary Portfolio

Property Highlights:

Gross Scheduled Income $86,400

Year 1 Scheduled Income $90,600

Located Next to Griffin Farm at Midtown

JOE LAFLEUR Multifamily Investment Advisor

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KEVIN [email protected]

Executive Summary

WEST LAKE MARY PORTFOLIO 3070 - 3074 W LAKE MARY BLVD, LAKE MARY, FL 32746

PROPERTY OVERVIEW

This portfolio, located in Lake Mary, FL consists or three parcels. There are twooffice buildings totaling approximately 5,370 gross square feet, situated on .99 acreand one parcel is vacant land situated on .33 acres. The office buildings are ofconcrete block construction.Ideally located with Lake Mary Boulevard frontage and across the street from thenew Griffin Farm developments which include 100,000 square feet of retail, 264luxury apartments and 165 luxury single family homes.

PROPERTY HIGHLIGHTS

• Gross Scheduled Income $86,400

• Year 1 Scheduled Income $90,600

• Located Next to Griffin Farm at Midtown

• Just Half a Mile West of Downtown Lake Mary

• Concrete Block Construction

• Vacant Parcel Included In Sale - Zoned PO

OFFERING SUMMARY

Sale Price: $1,200,000

Price / Unit: $600,000

Price / SF: $223.46

Cap Rate: 5.06%

NOI: $60,754

Lot Size: 1.32 Acres

Year Built: 1978

Building Size: 5,370 SF

Zoning: PO

Market: Lake Mary



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Table of Contents

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Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspectionsand investigations including through appropriate third party independent professionals selected by such party. All financial data should beverified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independentprofessionals. 100Units.com makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financialdata or assumptions. 100Units.com does not serve as a financial advisor to any party regarding any proposed transaction. All data andassumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance.Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established ator increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancyfactors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified publicaccountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriateengineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by 100Units.com incompliance with all applicable fair housing and equal opportunity laws.

4FINANCIAL ANALYSIS

8PROPERT Y INFORMATION

13LOC ATION INFORMATION

18SALE COMPARABLES

23DEMOGRAPHICS



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West Lake Mary Portfolio3070 - 3074 W LAKE MARY BLVD, LAKE MARY, FL 32746

FINANCIAL ANALYSISRent Roll

Income & Expenses

Financial S ummar y



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TENANTNAME

UNITNUMBER

LEASEEND

ANNUALRENT

% OFBUILDING

PRICEPER SF/YR

3074 3074 02/01/2020 $31,200 40.93 $14.19

3070 3070 03/01/2020 $55,200 59.07 $17.40

Totals/Averages $86,400 $16.09

Rent Roll


FINANCIAL ANALYSIS



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INCOME SUMMARY CURRENT PER SF YEAR 1 PER SF

TOTAL SCHEDULED INCOME $86,400 $16 $90,600 $16

VACANCY $4,320 $0 $4,530 $0

GROSS INCOME $82,080 $15.28 $86,070 $16.03

EXPENSE SUMMARY CURRENT PER SF YEAR 1 PER SF

Real Estate Taxes $11,041 $2.06 $14,400 $2.68

Insurance $4,500 $0.84 $4,500 $0.84

Utilities $2,184 $0.41 $2,184 $0.41

Electricity $3,600 $0.67 $3,600 $0.67

GROSS EXPENSES $21,325 $3.97 $24,684 $4.60

NET OPERATING INCOME $60,754 $11.31 $61,386 $11.43

OPERATING EXPENSE RATIO 26% 26% 29% 29%

Income & Expenses


FINANCIAL ANALYSIS



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INVESTMENT OVERVIEW CURRENT YEAR 1 TWO PARCELS

Price $1,200,000 $1,200,000 $950,000

Price per SF $223.46 $223.46 $176.91

CAP Rate 5.1% 5.1% 6.6%

Cash-on-Cash Return (yr 1) 0.93 % 1.14 % 6.88 %

Total Return (yr 1) $16,055 $16,687 $26,862

Debt Coverage Ratio 1.05 1.06 1.36

OPERATING DATA CURRENT YEAR 1 TWO PARCELS

Gross Scheduled Income $86,400 $90,600 $86,400

Other Income - - -

Total Scheduled Income $86,400 $90,600 $86,400

Vacancy Cost $4,320 $4,530 $4,320

Gross Income $82,080 $86,070 $82,080

Operating Expenses $21,325 $24,684 $19,831

Net Operating Income $60,754 $61,386 $62,248

Pre-Tax Cash Flow $2,777 $3,409 $16,350

FINANCING DATA CURRENT YEAR 1 TWO PARCELS

Down Payment $300,000 $300,000 $237,500

Loan Amount $900,000 $900,000 $712,500

Interest Rate 5.0% 5.0% 5.0%

Amortization Period 30 yrs 30 yrs 30 yrs

Debt Service $57,977 $57,977 $45,898

Debt Service Monthly $4,831 $4,831 $3,824

Principal Reduction (yr 1) $13,278 $13,278 $10,511

Financial Summary


FINANCIAL ANALYSIS



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PROPERTY INFORMATIONProper ty Description

Proper ty Photos

Proper ty Photos

Proper ty Photos



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Property Description


PROPERTY INFORMATION

LOCATION OVERVIEW

Although Lake Mary's beginning dates back to the 19thcentury, the City did not incorporate until August 7, 1973.Named after the wife of a minister who settled on thenorthern shores of the lake, Lake Mary started as a village oftwo tiny settlements called Bent's Station and Belle Fontaine.They were located along the railroad that ran betweenSanford and Orlando.The City began primarily as a citrus-based agriculturalcommunity. In the early seventies, as the Disney developmentsurge pushed northward, Lake Mary began to transform into asemi-rural bedroom community serving Orlando. During thelate eighties and early nineties the City experiencedtremendous growth in residential development as well as aneconomic development center with hundreds of thousands ofsquare feet of office, retail and industrial uses.Lake Mary has never lost its focus of promoting a sense ofcommunity where people can live, work and play in a safe andfriendly environment that's part of the reason Lake Mary isstill one of the fastest growing areas in Central Florida.Located approximately 18 miles north of Orlando just offInterstate 4, the City continues to be a choice location for hightech businesses, many of which spend considerable time andmoney searching for the right place. Among other things LakeMary is known for its well planned residential communities,excellent schools, prominent businesses including outstandingrestaurants, and a variety of shopping opportunities.The crime rate in Lake Mary is one of the lowest in Floridathanks to it’s pro-active, community based Police Department.On the fire side, it’s skilled Fire Department is ready to dealwith any emergency including rapid response and rescue. TheParks and Recreation facilities are not only beautifullymaintained, but offer something for everyone. The bottomline is that Lake Mary has all the conveniences of Orlandowithout the traffic!



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Property Photos


PROPERTY INFORMATION



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LOCATION INFORMATIONRegional Map

Loc ation Maps

Aerial Map

Retailer Map



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West Lake Mary Portfolio

Regional Map


LOCATION INFORMATION



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Location Maps





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Aerial Map





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Retailer Map





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SALE COMPARABLESS ale Comps

S ale Comps S ummar y

S ale Comps Map



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Sale Comps


SALE COMPARABLES

SUBJECT PROPERTY

3070 - 3074 W Lake Mary Blvd | Lake Mary, FL 32746

$1,200,000Sale Price: 1.32 ACLot Size:

1978Year Built: 5,370 SFBuilding SF:

$223.46Price PSF: 5.06%Cap:

$60,754NOI:

SHOPPES AT LAKE MARY101 B Country Club Rd | Lake Mary, FL 32746

$5,400,000Sale Price: 0 ACLot Size:


$140.28Price PSF 04/02/2018Closed:

1

1

Status: SOLD

113 W CRYSTAL LAKE AVE113 W Crystal Lake Ave | Lake Mary, FL 32746

$200,000Sale Price: 0 ACLot Size:

1980Year Built: 720 SFBuilding SF:


2

2

Status: SOLD

3050 INTERNATIONAL PKY3050 International Pky | Lake Mary, FL 32746

$3,500,000Sale Price: 0 ACLot Size:



3

3

Status: SOLD



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Sale Comps


SALE COMPARABLES

3890 LAKE EMMA3890 Lake Emma Rd | Lake Mary, FL 32746

$480,000Sale Price: 0 ACLot Size:



4

4

Status: SOLD



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SUBJECT PROPERTY PRICE BLDG SF PRICE/SF

West Lake Mary Portfolio3070 - 3074 W Lake Mary BlvdLake Mary, FL 32746

$1,200,000 5,370 SF $223.46

SALE COMPS PRICE BLDG SF PRICE/SF CLOSE

1Shoppes at Lake Mary101 B Country Club RdLake Mary, FL 32746

$5,400,000 38,495 SF $140.28 04/02/2018

2113 W Crystal Lake Ave113 W Crystal Lake AveLake Mary, FL 32746

$200,000 720 SF $277.78 06/25/2018

33050 International Pky3050 International PkyLake Mary, FL 32746

$3,500,000 12,798 SF $273.48 05/02/2019

43890 Lake Emma3890 Lake Emma RdLake Mary, FL 32746

$480,000 1,319 SF $363.91 03/20/2019

TOTALS/AVERAGES PRICE BLDG SF PRICE/SF$2,395,000 13,333 SF $179.63

Sale Comps Summary


SALE COMPARABLES



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3070 - 3074 W Lake Mary Blvd | Lake Mary, FL 32746SUBJECT PROPERTY

Sale Comps Map


SALE COMPARABLES

1 101 B Country Club RdLake Mary, FL 32746

SHOPPES AT LAKE MARY 2 113 W Crystal Lake AveLake Mary, FL 32746

113 W CRYSTAL LAKE AVE 3 3050 International PkyLake Mary, FL 32746

3050 INTERNATIONAL PKY

4 3890 Lake Emma RdLake Mary, FL 32746

3890 LAKE EMMA



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DEMOGRAPHICSDemographics Repor t

Demographics Map



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Demographics Report


DEMOGRAPHICS

* Demographic data derived from 2010 US Census

1 MILE 3 MILES 5 MILES

Total population - Hispanic 997 9,649 22,804% Hispanic 16.5% 16.8% 16.7%


Total population - White 4,630 45,452 104,071% White 76.6% 79.0% 76.1%

Total population - Black 612 5,363 17,306% Black 10.1% 9.3% 12.7%

Total population - Asian 438 3,107 5,865% Asian 7.2% 5.4% 4.3%

Total population - Hawaiian 0 15 178% Hawaiian 0.0% 0.0% 0.1%

Total population - Indian 16 118 320% Indian 0.3% 0.2% 0.2%

Total population - Other 174 1,836 4,780

% Other 2.9% 3.2% 3.5%


Total households 2,176 20,634 48,861

Total persons per hh 2.8 2.8 2.8

Average hh income $81,710 $79,645 $77,736

Average house value $347,397 $319,638 $333,725


Total population 6,045 57,553 136,769

Median age 37.5 37.1 36.5

Median age (male) 37.2 36.5 36.0

Median age (female) 38.4 37.9 37.4



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Demographics Map


DEMOGRAPHICS

* Demographic data derived from 2010 US Census

POPULATION 1 MILE 3 MILES 5 MILESTOTAL POPULATION 6,045 57,553 136,769MEDIAN AGE 37.5 37.1 36.5MEDIAN AGE (MALE) 37.2 36.5 36.0MEDIAN AGE (FEMALE) 38.4 37.9 37.4

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILESTOTAL HOUSEHOLDS 2,176 20,634 48,861# OF PERSONS PER HH 2.8 2.8 2.8AVERAGE HH INCOME $81,710 $79,645 $77,736AVERAGE HOUSE VALUE $347,397 $319,638 $333,725

ETHNICITY 1 MILE 3 MILES 5 MILES% HISPANIC 16.5% 16.8% 16.7%

RACE 1 MILE 3 MILES 5 MILES% WHITE 76.6% 79.0% 76.1%% BLACK 10.1% 9.3% 12.7%% ASIAN 7.2% 5.4% 4.3%% HAWAIIAN 0.0% 0.0% 0.1%% INDIAN 0.3% 0.2% 0.2%% OTHER 2.9% 3.2% 3.5%



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