$1,125,000 | 8% CAP NET LEASED INVESTMENT GROUP …€¦ · responsibility. Building is newly...
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NET LEASED INVESTMENT GROUP Net Leased Investment Opportunity - Manheim Remarketing, Inc 614 CR 7200, Lubbock, TX 79404 CBCNetLeasedGroup.com NET LEASED INVESTMENT GROUP LUBBOCK OFFICE 4924 S. Loop 289 Lubbock, TX 79414 806.793.0888 • NNN - Net Leased Property • 9,250 sq ft building - 4.4 acres of land • National Credit Tenant • Tenant: 107 operating locations worldwide $1,125,000 | 8% CAP Exclusively Offered By: JEF CONN, CCIM Industrial & Office Specialist 806.784.3216 [email protected]
Transcript of $1,125,000 | 8% CAP NET LEASED INVESTMENT GROUP …€¦ · responsibility. Building is newly...
NET LEASED INVESTMENT GROUP
Net Leased Investment Opportunity - Manheim Remarketing, Inc614 CR 7200, Lubbock, TX 79404
CBCNetLeasedGroup.com
NET LEASED INVESTMENT GROUPLUBBOCK OFFICE4924 S. Loop 289Lubbock, TX 79414806.793.0888
• NNN - Net Leased Property• 9,250 sq ft building - 4.4 acres of land
• National Credit Tenant• Tenant: 107 operating locations worldwide
$1,125,000 | 8% CAP
Exclusively Offered By: JEF CONN, CCIMIndustrial & Office [email protected]
Executive SummaryNET LEASED INVESTMENT GROUP
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
PROPERTY OVERVIEWNet Leased (NNN) Industrial Property Available For Sale. Property is leased by Manheim Remarketing, Inc, adivision of Manheim - Cox Automotive, Inc. Property is a net leased property with roof & structure landlord'sresponsibility. Building is newly constructed building, completed at the end of 2016 and features 9,250 sq ft ofspace on 4.4 acres.
Property is located within the South I-27 Industrial Park, Lubbock's premiere business park, situated at thenortheast corner of 98th & Hwy 87 / Tahoka Hwy / I-27 with access to all parts of the city and west Texas via98th Street, I-27/Tahoka Hwy/Hwy 87, just 2 miles north of Loop 289. Superior quality in construction andlocation makes the South I-27 Industrial Park the most desirable location for industrial development inLubbock.
PROPERTY HIGHLIGHTS• NNN - Net Leased Property
• 9,250 sq ft building - 4.4 acres of land
• National Credit Tenant
• Tenant: 107 operating locations worldwide
• Tenant has two (2) two-year options to renew
PROPERTY SUMMARY
Sale Price: $1,125,000
Lot Size: 4.4 Acres
Building Size: 9,250 SF
Grade Level Doors: 7
Ceiling Height: 22.0 FT
Year Built: 2016
Zoning: Outside City limits
Cross Streets: NEC 98th & Hwy 87
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
PROPERTY DESCRIPTIONNet Leased (NNN) Industrial Property Available For Sale. Property is leased by Manheim Remarketing, Inc, adivision of Manheim - Cox Automotive, Inc. Property is a net leased property with roof & structure landlord'sresponsibility. Building is newly constructed building, completed at the end of 2016 and features 9,250 sq ft ofspace on 4.4 acres.
SITE DESCRIPTIONNewly constructed property featuring a 9,250 sq ft building on 4.4 acres. Property sits outside city limits withwell and septic. The office area features a reception area, 4 offices, break room, 2 restrooms while thewarehouse area features an office, HVAC room and separate restroom.
LOCATION DESCRIPTIONProperty is located at the anchor spot within the South I27 Industrial Park at 98th & Hwy 87 in southeastLubbock. Property has quick access to all parts of the city and west texas via 98th Street and Hwy 87/TahokaHwy/I-27. Property is situated just 2 miles from Loop 289, which circles Lubbock and is located 12 miles southof the Lubbock International Airport.
ZONINGOutside City limits
CONSTRUCTIONSubject property is a metal building with above market ceiling heights with 22 ft clear minimum ceiling height.Property also boasts a 5-ton bridge crane built specifically for the building.
Property DescriptionNET LEASED INVESTMENT GROUP
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Additional PhotosNET LEASED INVESTMENT GROUP
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Location MapsNET LEASED INVESTMENT GROUP
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Aerial MapNET LEASED INVESTMENT GROUP
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
INVESTMENT OVERVIEW (PROFORMA)
Value / Price $1,125,000Price per S.F. $121.62CAP Rate (Yr. 1) 8%Cash-on-Cash Return % (B/T, Yr. 1) 8.32%
OPERATING DATA (PROFORMA)
Gross Income $90,000less: Operating Expenses - $0
Net Operating Income $90,000
FINANCING DATA (PROFORMA)
Value / Price $1,125,000Down Payment Amount ( __%) $225,000Loan Amount ( __%) $900,000Interest Rate 5.0%Amortization Term 20Debt Service (Annually) $71,275Debt Coverage Ratio (DCR) (Yr.1) 1.26Cash Flow (After Debt Service, B/T, Yr. 1) $18,725Cash-on-Cash Return % (B/T, Yr. 1) 8.32%
Financial SummaryNET LEASED INVESTMENT GROUP
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
LEASESTART
LEASEEND
ANNUALRENT
% OFBUILDING
PRICEPER SF/YR
Manheim Remarketing, Inc 614 CR 7200 9,250 3/13/2017 3/12/2020 $90,000 100.0 $9.73
Totals/Averages 9,250 $90,000 $9.73
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Rent RollNET LEASED INVESTMENT GROUP
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
• 107 Active Locations Globally
• Subsidiary of Manheim - CoxAutomotive, Inc
• World's Largest Private Auto-AuctionCompany
• Owned by Cox Communications
• Started in 1945
Tenant ProfilesNET LEASED INVESTMENT GROUP
Manheim Remarketing, IncFounded in 1945, Manheim has grown to be the world's largest privately owned vehicle remarketing services, connecting buyersand sellers to the largest wholesale used vehicle marketplace and most extensive auction network
Approximately 18,000 employees enable Manehim to register about 8 million used vehicles per year, facilitate transactionsrepresenting $57 billiion in value and generate annual revenues of more than $2.6 billion.
A subsidiary of Atlanta-based Cox Enterprises, Manheim is transforming the wholesale vehicle buying and selling experiencethrough investments in technology and innovative products and services. Manheim markets Simulcast, Simulcast Everywhere,OVE.com, NextGear Capital, Total Resource Auctions, Manheim Frontline, Ready Logistics, Manheim Consulting and otherrespected brands to the remarketing industry in 11 countries, including Australia, Turkey and the United Kingdom.
TENANT HIGHLIGHTS
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
SUBJECT PROPERTY614 CR 7200 | Lubbock, TX 79404
$9.73 SF/YRLease Rate:9,250 SFSpace Size:2016Year Built:9,250 SFBldg Size:4.4 ACLot Size:1No. Units:100.0%Occupancy:
510 CR 7200510 CR 7200 | Lubbock, TX 79404
$12.00 SF/YRLease Rate:NNNLease Type:7,500 SFSpace Size:2016Year Built:7,500 SFBldg Size:4.4 ACLot Size:60 monthsLease Term:100%Occupancy:
1
Net Leased Property - Leased to Ferguson Waterworks
400 CR 7200400 CR 7200 | Lubbock, TX 79404
$12.00 SF/YRLease Rate:NNNLease Type:5,000 SFSpace Size:2016Year Built:5,000 SFBldg Size:4.4 ACLot Size:60 monthsLease Term:100%Occupancy:
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Net Leased Property - 5,000 sq ft on 4.4 leased to Go Petro
Rent CompsNET LEASED INVESTMENT GROUP
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Demographics MapNET LEASED INVESTMENT GROUP
1 Mile 5 Miles 10 Miles
Total Population 2,842 96,862 254,096Population Density 905 1,233 809Median Age 29.5 33.8 31.6Median Age (Male) 29.0 32.5 30.5Median Age (Female) 30.2 35.1 32.8Total Households 1,149 38,180 97,968# of Persons Per HH 2.5 2.5 2.6Average HH Income $59,657 $59,750 $57,421Average House Value $128,391 $133,544 $141,933
T 806.784.3216C [email protected]
JEF CONN, CCIMIndustrial & Office [email protected]
Exclusively Offered By:CBCNetLeasedGroup.com
Industrial & Office Specialist
Jef is an industrial, office and investment specialist at Coldwell Banker Commercial Rick Canup, REALTORS. He is a graduate of the Rawls Collegeof Business at Texas Tech University, 2009 & 2010. Jef, a well-respected commercial real estate industry agent, has earned numerous distinctionsthroughout his career in real estate. Jef has served as the Chairman of the Lubbock Association of REALTORS Commercial Services, 2012, sat on theBoard of Directors, 2013-current, and currently serves as the President-Elect for the association as well as the Chairman of the NextGen Committee.Jef consistently ranked in the top brokers city-wide and has been the top Industrial broker for 5 of the last 7 years. Jef’s clients have rangedfrom individuals needing small shop space to large Industrial parks taking up hundreds of thousands of square feet. Jef achieved the CertifiedCommercial Investment Member (CCIM) designation in 2010.
Brokerage & Leasing Specialist: Industrial, Office, and Investments
Texas Tech University, Lubbock, TX, 2009Finance, Accounting, EconomicsMasters of Business Administration (MBA) 20102 time Mentor/Protégé of the Year Globally for Coldwell Banker Commercial Commercial, 2008, 2012
Certified Commercial Investment Member (CCIM)
• TireCenters, LLC• Zions First National Bank• East West Bank• Bayview Financial• Gicon Pumps,LTD Tigris• Cententially Bank• Porter Manufacturing• ATNI, Inc.• Star Care of Lubbock• Texas General Land Office• Michellin• Loomis• Holdings, LLC• CBRE• McKesson
BACKGROUND
PRIMARY SPECIALTY
EDUCATION & AWARDS
DESIGNATIONS
NOTABLE CLIENTS — Current & Previous
JEF CONN, CCIM
Advisor Bio & ContactNET LEASED INVESTMENT GROUP
NET LEASED INVESTMENT GROUPLUBBOCK OFFICE4924 S. Loop 289Lubbock, TX 79414806.793.0888
Exclusively Offered By: JEF CONN, CCIMIndustrial & Office [email protected]
CBCNetLeasedGroup.com
NET LEASED INVESTMENT GROUP
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Net Leased Investment Opportunity - Manheim Remarketing, Inc614 CR 7200, Lubbock, TX 79404
