920 S Belt Line Rd FOR SALE Coppell, TX...
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PROPERTY SIZE: - 17,000 SF on 2.6 Acres HIGHLIGHTS: - Primely-located retail center with upside - Adjacent to Cypress Waters 1K-acre master-planned development (10K Multi-Family Units and 4m SF of Office) - High income population surrounding center - Long-Term rentals in place - Strong demographic and traffic count (Over 47K CPD between both Belt Line Roads) LOCATION: - SEQ S Belt Line Rd & E Belt Line Rd - Approx. 1.5 miles North from Hwy 635 Coppell Crossroads Retail Center FOR SALE 920 S Belt Line Rd Coppell, TX 75019 Asking: $4,200,000 NOI: $216,800 CAP (Actuals): 5.16% Pro-Forma: 7.45% Occupancy: 78% 817-803-3287 Michael Gonzalez C:(214) 664-5655 [email protected] www.visioncommercial.com
Transcript of 920 S Belt Line Rd FOR SALE Coppell, TX...
PROPERTY SIZE: - 17,000 SF on 2.6 Acres
HIGHLIGHTS: - Primely-located retail center with upside - Adjacent to Cypress Waters 1K-acre master-planned development (10K Multi-Family Units and 4m SF of Office) - High income population surrounding center - Long-Term rentals in place - Strong demographic and traffic count
(Over 47K CPD between both Belt Line Roads)
LOCATION: - SEQ S Belt Line Rd & E Belt Line Rd - Approx. 1.5 miles North from Hwy 635
Coppell Crossroads Retail Center
FOR SALE 920 S Belt Line Rd Coppell, TX 75019
Asking: $4,200,000 NOI: $216,800
CAP (Actuals): 5.16% Pro-Forma: 7.45% Occupancy: 78%
817-803-3287
Michael Gonzalez
C:(214) 664-5655
www.visioncommercial.com
Prime Retail Near Cypress Waters Pricing & Financial Analysis
Offering Summary
Vision Commercial is pleased to present the opportunity to acquire a Multi-Tenanted, 17,000-square
foot Retail Strip Center located in Coppell, Texas. The Center offers a triple net facility with a stable
Tenant-mix. Integrity Wellness Center and newly-leased Rozana Specialty Grocer are the largest tenants
in the Center and each have over 5 years left on their leases with renewal options. With 4 suites
comprised of a mix of 1 National Retailer and 2 Local Medical/Retail Tenants, Coppell Crossroads is
diversely positioned to attain any user-type in the 3,748 SF vacancy. The Center has easy access to 635
and a combined 47,290 vehicles per day. The center is equipped with full sprinkler system/riser room
and monument signage on South and East Belt Line Roads, offering ample visibility. This asset has good
upside to be captured.
Property Information
Price $4,200,000
Price per Square Foot (GLA) $247
Net Operating Income $216,800
CAP Rate on Actuals 5.16%
Pro-Forma (100% Leased) 7.45%
Total Suites 4-6
Tenants 3
Occupancy 78%
Gross Leasable Area (GLA) 17,000
Lot Size (Acres) 2.60 Acres
Year Built/Renovated 2009
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters 920 S Belt Line Rd, Coppell, TX 75019
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The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters Pricing & Financial Analysis
Tenant Summary
As of Dec 1, 2017 July 2018 Pro-Forma
Ste Space Start Exp Size Rent PSF
NNN PSF
Gross PSF
GROSS RENT
Rent PSF
NNN PSF
Gross PSF
GROSS RENT
Changes on
Changes to
100 Domino's Pizza
08/08/15 2/28/26 2,045
150
Rozana's
Specialty
Grocer,
Restaurant, & Café
01/30/17 06/30/22 5,447
250 Integrity
Wellness 05/01/13 03/28/22 5,660
110 Vacant (Shell)
- - 3,748
Total Vacant 3,748 22% Act Gross Inc $317,731 Act Gross Inc $413,999
Total
Occupied 13,152 78%
Rentable GLA
16,900 100%
*Vacant space is shell and will require $25 psf in T.I.
Total Vacant (22%) 3,748 sf
Total Occupied (78%) 13,152 sf
Rentable GLA 16,900 sf
NOI Breakdown Actuals 2018 Pro-Forma
Gross Income $317,730.85 $413,999.00 - Total Expenses $100,931.26 $100,931.26
NOI $216,799.59 $313,067.74
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters Pricing & Financial Analysis
Operating Expenses
Total Expense Breakdown Total PSF (NNN costs)
Total CAM $40,694 $2.41
Insurance $4,640 $0.27 Property Taxes $55,598 $3.29
Total Expenses $100,931 $5.97
As of Dec. 1, 2017
CAM Breakdown Cost
Utilities
Electricity $1,255
Water & Sewage $3,846
Total Utilities $5,101
Repairs and Maintenance
Sweeping $606
Landscaping $10,584
Security Monitoring $265
R & M - Exterior Repairs $11,413
Telephone $783
Trash Removal $4,056
Pest Control $162
Postage & delivery $18
Repairs and Maintenance
General And Administrative
Total Repairs & Maintenance $27,103
Professional
Property Management $8,490
Total Professional $8,490
Total CAM $40,694
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters Pricing & Financial Analysis
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Tenant & Lease Summary
Domino’s is the second largest pizza restaurant chain in the world, with more than 14,000 locations in over 85 markets. Though signif-icant amount of sales come from carryout customers, this location is part of their new concept rolled out in 2014 offering dine-in seat-ing.. Their focus is on serving the local neighborhoods of Coppell, parts of Lewisville, and Irving.
Tenant Name Domino’s Pizza
Lease Type NNN
Suite 100
Gross Leasable Area (GLA) 2,045 SF
Lease Start 8/8/2015
Lease End 2/28/2026
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters Pricing & Financial Analysis
CU
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Tenant & Lease Summary
Integrity Wellness Center (IWC) specialties include: Paint Management Services, General Surgery, Plastic Surgery, Obera Medical Weight Loss, Otolaryngology (ENT), and Gastroenterology Services. IWC is a state-of-the-art ambu-latory surgery facility that delivers more personal, conven-ient outpatient care – all at a lower cost vs. hospitals. IWC is staffed with passionate, board-certified physicians and an-esthesiologists as well as registered nurses and medical technicians, specially trained in surgical and recovery care.
Tenant Name Integrity Wellness Center
Lease Type NNN
Suite 250
Gross Leasable Area (GLA) 5,660 SF
Lease Start 05/01/2013
Lease End 03/28/2022
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters Pricing & Financial Analysis
CU
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Tenant & Lease Summary
Ownership has opened and owner grocer stores since early 90’s. Mr. Saleh has vast experience in advertising new busi-nesses and has deep-rooted interest in product quality which allows him to attract the higher-end community in-terested in Mediterranean and other ethnic delicacies. Mr. Saleh worked on Wall St as an Algorithm developer and since then, utilized has education in business to further his interest in business development. With almost 3 decades of experience, Rozana Food Market will sell hand-selected items including but not limited to: ethnic meats, fruits, veg-etables, seasonings, and herbs. This region of Dallas has re-cently seen a major shift in ethnic diversity and is why Rozana Food Market is destined to flourish in this pocket of Coppell .
Tenant Name Rozana Food Market
Lease Type NNN
Suite 150
Gross Leasable Area (GLA) 2,045 SF
Lease Start 1/30/2017
Lease End 6/30/2022
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
DEMOGRAPHICS (STDBonline.com 2016)
1 Mile 2 Mile 3 Mile 5 Mile
Population 2,841 22,524 72,921 144,386
2015-2020 Annual Rate 1.75% 2.11% 1.76% 1.90%
Employees 7,902 27,978 61,130 174,366
Average HH Income $168,359 $143,787 $121,261 $101,319
Traffic Counts (STDBonline.com 2009)
S Belt Line Rd 33,900
E Belt Line Rd 13,390
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters Pricing & Financial Analysis
Prime Retail Near Cypress Waters 920 S Belt Line Rd, Coppell, TX 75019
Suite Tenant Min Max
Suite 100 Domino’s Pizza 2,045 SF N/A
Suite 110 LEASED - Specialty Grocer N/A 5,547 SF
Suite 200-240 AVAILABLE 980 SF 3,748 SF
Suite 250 Integrity Wellness Center 5,660 SF N/A
200
110
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters 920 S Belt Line Rd, Coppell, TX 75019
PARK BLVD
800 Students
814 units built of 10,000 units
at full build-out
4M SF of office space at full
build-out
45,000 SF of new retail at full build-out
The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
Prime Retail Near Cypress Waters Survey
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The data contained herein was obtained from sources deemed to be reliable, but in no way warranted by Vision Commercial Real Estate, LLC. The property is offered subject to errors, omissions, change in price and or terms, or removal from the market without notice.
C (214) 664-5655 www.visioncommercial.com
Michael Gonzalez [email protected]
