DOLLAR GENERAL PLAZA...DOLLAR GENERAL PLAZA 415 S. HIGLEY ROAD, MESA, AZ 85206 FINANCIAL SUMMARY...
Transcript of DOLLAR GENERAL PLAZA...DOLLAR GENERAL PLAZA 415 S. HIGLEY ROAD, MESA, AZ 85206 FINANCIAL SUMMARY...
Southeast Corner of Higley Road & Broadway Road – Mesa, Arizona
DOLLAR GENERAL PLAZAFOR SALE: $1,950,000
For further information contact: OFFERING HIGHLIGHTS
MICHAEL FRANKS602-393-0140
JEFF SCHONBERGER602-553-2933
9120 E Talking Stick Way, Ste E1Scottsdale, AZ 85250
o. 480.834.8500f. 602.381.1981
www.derito.com
New two tenant retail investment opportunity featuring Dollar General and JAZ Sport & Fitness
Parking lot re-surfaced in 2018
Located at the intersection of two major thoroughfares
Average household income of $62,244 within a 3-mile radius
15,200 Dollar General and Family Dollar stores nationwide
Densely populated location with 121,139 residents within a 3-mile radius
The material contained in this Investment Offering
Brochure is furnished solely for the purpose of
considering the purchase of the property within and is
not to be used for any other purpose. This information
should not, under any circumstances, be photocopied or
disclosed to any third party without the written consent
of De Rito Partners or Owner, or used for any purpose
whatsoever other than to evaluate the possible
purchase of the Property.
The only party authorized to represent the Property
Owner in connection with the sale of the Property is the
De Rito Partners’ agents listed in this proposal, and no
other person is authorized by the Owner to provide any
information or to make any representations other than
contained in this Investment Offering Brochure. If the
person receiving these materials does not choose to
pursue a purchase of the Property, this Offering
Brochure must be returned to De Rito Partners, Inc.
Neither the De Rito Partners’ agents nor the Owner
make any representation or warranty, expressed or
implied, as to the accuracy or completeness of the
information contained herein, and nothing contained
herein is or shall be relied upon as a promise or
representation as to the future performance of the
Property. This Offering Brochure may include certain
statements and estimates by De Rito Partners with
respect to the projected future performance of the
Property. These assumptions may or may not be proven
to be correct, and there can be no assurance that such
estimates will be achieved. Further, the De Rito
Partners’ agents and the Owner disclaim any and all
liability for representations or warranties, expressed or
implied, contained in or omitted from this Investment
Offering Brochure, or any other written or oral
communication transmitted or made available to the
recipient. The recipient shall be entitled to rely solely on
those representations and warranties that may be made
to it in any final, fully executed and delivered Real Estate
Purchase Agreement between it and Owner.
The information contained herein is subject to change
without notice and the recipient of these materials shall
not look to Owner or the De Rito Partners’ agents, nor
any of their officers, employees, representatives,
independent contractors, or affiliates, for the accuracy
of completeness thereof. Recipients of this Investment
Offering Brochure are advised and encouraged to
conduct their own comprehensive review and analysis of
the Property.
This Investment Offering Brochure is a solicitation of
interest only and is not an offer to sell the Property. The
Owner expressly reserves the right, at its sole discretion,
to reject any and all expressions of interest to purchase
the Property and expressly reserves the right, at its sole
discretion, to terminate negotiations with any entity, for
any reason, at any time with or without notice. The
Owner shall have no legal commitment or obligation to
any entity reviewing the Investment Offering Brochure
or making an offer to purchase the Property unless and
until the Owner executes and delivers a signed Real
Estate Purchase Agreement on terms acceptable to
Owner, in Owner’s sole discretion. By submitting an
offer, a prospective purchaser will be deemed to have
acknowledged the foregoing and agreed to release the
Owner and the De Rito Partners’ agents from any
liability with respect thereto.
To the extent Owner, or any agent of Owner,
corresponds with any prospective purchaser, any
prospective purchaser should not rely on any such
correspondence or statements as binding Owner. Only a
fully executed Real Estate Purchase Agreement shall
bind the Property, and each prospective purchaser
proceeds at its own risk.
DISCLAIMER/CONFIDENTIALITY
DOLLAR GENERAL PLAZA
Sale Price
Price Per SF
Lot Size
Building Size
Year Built
Zoning
Market
Sub Market
Cross Streets
Traffic Counts
$1,950,000
$134
1.59 acres
14,572 SF
2000
LC City of Mesa
Mesa Metro
Mesa
Higley Road and Broadway Road
Approximately 40,646 cars per day at the intersection
Property – The Dollar General Plaza consists of one “rectangular-shaped” retail building that wasconstructed in 2000 with a concrete structure. This property offering gives a potential investor theopportunity to acquire an attractive retail building at a price that is very competitive in the area.The property is cash flowing and there is a very good upside through leasing the vacant space.With the long-term stable tenants, the vacant space at Dollar Tree Plaza represents an exceptionalopportunity to purchase a solid investment at a great price.
Location – Located on the southeast corner of Higley Road and Broadway Road in the heart ofMesa, Arizona. The property rests on a major signalized intersection in a dense infill area. Thesubject property is also strategically located just 1½ miles north of the Interstate 60.
DOLLAR GENERAL PLAZA
INVESTMENT OVERVIEW
PROPERTY OVERVIEW
415 S. HIGLEY ROAD, MESA, AZ 85206
UnitNumber
Unit SizeTenant Name
Lease Start
LeaseEnd
Annual Rent
Increase Date
Increase Amount
% of GLA
Price Per/SF/Yr
101 9,637 SFDollar
General8/3/11 1/31/27 $90,000 2/1/22 $94,500 65% $9.34
102 4,935 SFJAZ
Family Sports
1/1/17 6/30/22 $39,3000 7/1/22 $42,000 34% $7.97
14,572 SF $129,300 $8.77
DOLLAR GENERAL PLAZA
RENT ROLL
*Verizon cell tower not included in this offering.
DOLLAR GENERAL PLAZA
415 S. HIGLEY ROAD, MESA, AZ 85206
FINANCIAL SUMMARY
Sale Price
Price Per SF
CAP Rate
Cash-on-Cash Return (Yr 1)
Total Return (Yr 1)
$1,950,000
$134.00
6.63%
6.63%
$129,300
INVESTMENT OVERVIEW
Gross Scheduled Income
Other Income
Total Scheduled Income
Gross Income
Operating Expenses
Net Operating Income
Pre-Tax Cash Flow
$180,801
$0
$180,801
$180,801
$51,501
$129,300
$129,300
OPERATING DATA
Base Rent
CAM Collection
GROSS INCOME
$129,300
$51,501
$180,801
INCOME SUMMARY
Common Area Maintenance
Taxes
Insurance
Arizona TPT
GROSS EXPENSES
$12,050
$34,519 (2018)
$2,050
$2,882
$51,501
EXPENSES SUMMARY
Net Operating Income $129,300
INCOME & EXPENSES
DOLLAR GENERAL PLAZA
LOCATION MAPS
DOLLAR GENERAL PLAZA
AERIAL/PARCEL MAPS
DOLLAR GENERAL PLAZA
415 S. HIGLEY ROAD, MESA, AZ 85206
DEMOGRAPHICS REPORT
Total Population
Total Number of Households
Estimated Average Household Size
Owner Occupied Median Home Value
Average Household Income
Median Age
Median Age – Male
Median Age – Female
Total Population – White
Total Percent – White
Total Population – Black
Total Percent – Black
Total Population – Asian
Total Percent – Asian
Total Population – Hawaiian or Pacific Islander
Total Percent – Hawaiian or Pacific Islander
Total Population – American Indian
Total Percent – American Indian
Total Population – Other
Total Percent – Other
Total Population – Hispanic
Total Percent - Hispanic
14,262
7,733
1.79
$120,980
$52,550
60.2
58.1
62.0
12,893
90.4%
332
2.3%
250
1.8%
15
0.1%
93
0.6%
421
3.0%
1,443
10.1%
1 Mile 3 Miles 5 Miles
116,117
51,966
2.21
$157,610
$62,244
45.1
42.7
47.2
97,193
83.7%
3,939
3.4%
2,892
2.5%
220
0.2%
1,223
1.1%
6,913
6.0%
18,785
16.2%
294,516
117,485
2.49
$171,388
$69,085
40.9
39.1
42.6
239,958
81.5%
9,284
3.2%
8,040
2.7%
752
0.3%
3,291
1.1%
23,477
8.0%
59,123
20.1%