KILLINGSWORTH STATION FOOD CART SQUARE...Polish cuisine cart offering pierogis, polish sausages,...

KILLINGSWORTH STATION FOOD CART SQUARE1341 N Killingsworth St • Portland, OR 97217

Offering Memorandum

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be

reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to

verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or

name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,

service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

KILLINGSWORTH STATION FOOD CART SQUARE

Portland, OR

ACT ID ZAA0210334

2

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Map

Other Portland-Area Food Pod Locations Map

Zoning Information

News Article

Property Photos

FINANCIAL ANALYSIS 02

Tenant Summary

Lease Expiration Chart

Operating Statement

Notes

Pricing Detail

Acquisition Financing

MARKET COMPARABLES 03Rent Comparables

Sales Comparables

MARKET OVERVIEW 04

Market Analysis

Demographic Analysis


3


5

INVESTMENT

OVERVIEW


#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Ohsu 17,415

Providence Health & Services 3,707

Daimler Trucks North Amer LLC 3,324

Portland State University 3,303

Coho Distributing LLC 2,600

Legacy Emanuel Hosp & Hlth Ctr 2,481

Kindercare Educatn At Work LLC 2,400

Legacy Health 2,388

Portland Adventist Medical Ctr 2,074

Kc Distance Learning Inc 1,914

Oregon Health & Science Univ 1,882

Providence Health & Svcs - Ore 1,667

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2018 Estimate Pop 25,361 153,478 322,828

2010 Census Pop 22,413 135,580 287,692

2018 Estimate HH 10,993 72,273 152,378

2010 Census HH 9,596 62,401 133,340

Median HH Income $66,470 $65,786 $66,093

Per Capita Income $37,239 $44,761 $46,317

Average HH Income $85,712 $93,700 $96,889

6

MAJOR TENANTS

TENANT

Aztec Fusion PDX Hound Dog BBQ

Bluebird Thai Street Food La Puerta PDX

Eurodish Nana's Corner Coffee and Grub

Green Soul Tehuana Oaxacan Mexican Cuisine

Gypsy Pie Cart

VITAL DATA

YEAR 1 YEAR 2

Price $1,300,000 CAP Rate 4.73% 8.07%

Loan Amount $845,000Net Operating Income

$61,500 $104,950

Loan Type Proposed NewNet Cash Flow After Debt Service

0.81% / $3,690 10.36% / $47,140

Interest Rate / Amortization 4.75% / 25 Years Total Return 4.78% / $21,752 14.52% / $66,079

Gross Leasable Area (GLA) 10,019 SF

Price/SF $129.75

Current Occupancy 73.76%

Year Built / Renovated 2014

Lot Size 0.23 acre(s)


OFFERING SUMMARY

▪ Well-located Food Cart Pod with Cash Flow and Upside Potential

▪ Attractive Transit Oriented Development Location for Current or Future

Development

▪ Near Parks, Shopping, and Dense Residential Rooftops for Natural Consumer Base

▪ Flexible CM2 Zoning, Allows for Multifamily, Retail, Office and more

INVESTMENT HIGHLIGHTS

The subject property is located at 1341 N Killingsworth Street, Portland OR 97217. The property is a zoned commercial mixed-use 2 (CM2) lot totaling 10,019 square feet. Originally used as a single-family residence, the site has recently been redeveloped and is currently operating as a restaurant and food cart location. There is a main building of approximately 1,691 square feet in size, in addition to two detached buildings allowing for bathrooms and on-site storage. The restaurant building is constructed from wood and brick, with a composition shingle roof. The detached buildings are constructed with wood frame and composition shingle roofs. There are nine food carts on-site now, all fully utility serviced with electric, water, and sewer paying a monthly gross rent of approximately $750 each. There is a potential to hook-up an additional food cart for a total of 10 food carts, in addition to the restaurant. The site is well-maintained with attractive landscape.

The property’s commercial mixed-use (CM2) zoning designation allows for a variety of uses including restaurants, general retail, office, multifamily and more. The specific uses may be found on the following pages as referenced in the City of Portland’s zoning code. Multifamily is an allowed use on the property with no maximum number of units so long as the site is developed with the appropriate setbacks and in accordance with the floor area ratio. The maximum building height allowed is 45 feet and carries the potential for additional height and density with bonuses.

The site benefits from over 120,000 vehicles per day passing Interstate 5 exit 303, and North Killingsworth Street traffic with more than 7,500 vehicles passing per day. The site is ideally situated one block from public transportation, including the TriMet North Killingsworth MAX Yellow Line Station and TriMet bus line 72. There have been recent improvements to a local bike route ideal for Portland commuters traveling to Downtown Portland and elsewhere. The site benefits from its proximity to natural consumers situated just a short walk away from the metropolitan area’s largest community college; Portland Community College Cascade Campus (with over 20,468 students enrolled annually,) as well as Jefferson High School, and many dense residential rooftops. Additional amenities in the area include several parks, retail shops, eateries and more.

The property is ideal for either developers, a restaurant owner/user, or an investor. A developer may purchase the land for its strategic location as a transit-oriented development, “TOD,” and benefit from the property’s flexible commercial mixed-use zoning designation. They could begin the process for building multifamily and/or mixed-use with ground floor retail/office now, or as a future development project. While a developer is going through the site plan approval and permitting process they can steadily generate income from the food carts, potentially adding more food carts and leasing the building for either office, retail, or another allowed use for additional cash flow. A user benefits from cost relief while operating their business by receiving the additional passive income and consumer traffic from on-site food carts.

INVESTMENT OVERVIEW

7


PROPERTY SUMMARY

OFFERING SUMMARY

PROPOSED FINANCING

First Trust Deed

Loan Amount $845,000

Loan Type Proposed New

Interest Rate 4.75%

Amortization 25 Years

Loan Term 5 Years

Loan to Value 65%

Debt Coverage Ratio 1.06

THE OFFERING

Property Killingsworth Station Food Cart Square

Price $1,300,000

Property Address 1341 N Killingsworth St, Portland, OR

SITE DESCRIPTION

Year Built/Renovated 2014

Gross Leasable Area 10,019 SF

Ownership Fee Simple

Lot Size 0.23 acre(s)

8

REGIONAL MAP


9

LOCAL MAP


10

AERIAL PHOTO


11

OTHER PORTLAND AREA FOOD PODS


12



13

CM2 ZONING INFORMATION


14

CM2 ZONING INFORMATION


15

NEWS ARTICLE


16

NEWS ARTICLE


17

PROPERTY PHOTOS


18



19


21

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS


22

TENANT SUMMARY

FINANCIAL ANALYSIS


OPERATING STATEMENT

23

FINANCIAL ANALYSIS


PRICING DETAIL

24

12

TENANT PROFILE


25

Aztec Fusion PDX

General Information

Tenant Name Aztec Fusion PDX

Website https://www.facebook.com/aztecfusionpdx/

Headquartered Portland, OR

No. of Locations 1

Foodies in Portland, Oregon. Serving a fusion on Mexican and Asian cuisine. teriyaki

style meats meet burritos, tacos and quesadillas. We also offer more traditional

dishes such as teriyaki bowls and yakisobas, and to wash it all down try our

refreshing Pina Colada!

Bluebird Thai Street Food

General Information

Tenant Name Bluebird Thai Street Food

Websitehttps://www.facebook.com/bluebirdthaistreetfood/


No. of Locations 1

Thai with a twist! Curries (red, green, yellow, panang, mango), Nutty Chicken,

Tangerine Chicken, Gai Zapp, Coconut Shrimp, lettuce wraps, Thai donuts, bubble

teas and more

Eurodish

General Information

Tenant Name Eurodish


No. of Locations 1

Polish cuisine cart offering pierogis, polish sausages, cabbage rolls, blintzes,

organic salads, smoothies, and juices!

Gypsy Pie Cart

General Information

Tenant Name Gypsy Pie Cart


No. of Locations 1

Pie cart offering delicious pot pies, savory sweet pies, scratch cooking, sandwiches,

comfort food, cookies, candied greens and more!

12

TENANT PROFILE


26

Hound Dog BBQ

General Information

Tenant Name Hound Dog BBQ

Website https://www.facebook.com/hounddogbbqnw/


No. of Locations 1

Smoked meats, po’boys, sandwiches, hulihuli chicken, steelhead plate,

hamburgers, and more!

La Puerta PDX

General Information

Tenant Name La Puerta PDX

Website https://www.facebook.com/pdxlapuerta/


No. of Locations 1

Salvadorian food! Pupusas, micheladas, tamales, carne asada, mimosas,

BEER AND WINE!

Nana's Corner Coffee and Grub

General Information

Tenant Name Nana's Corner Coffee and Grub

Websitehttps://www.facebook.com/nanascornercoffee/


No. of Locations 1

Opens at 5:30am for breakfast and lunch. Served all day. Full-service coffee bar!

Tehuana Oaxacan Mexican Cuisine

General Information

Tenant Name Tehuana Oaxacan Mexican Cuisine

Website https://www.facebook.com/tehuanapdx/


No. of Locations 1

Authentic Oaxacan cuisine. Tlayudas, memelitas, entomatadas, enchiladas and more!

MARCUS & MILLICHAP CAPITAL CORPORATION

CAPABILITIES

MMCC—our fully integrated, dedicated financing arm—is committed to

providing superior capital market expertise, precisely managed execution, and

unparalleled access to capital sources providing the most competitive rates and

terms.

We leverage our prominent capital market relationships with commercial banks,

life insurance companies, CMBS, private and public debt/equity funds, Fannie

Mae, Freddie Mac and HUD to provide our clients with the greatest range of

financing options.

Our dedicated, knowledgeable experts understand the challenges of financing

and work tirelessly to resolve all potential issues to the benefit of our clients.

National platform

operating

within the firm’s

brokerage

offices

6.24 billion

billion total

national

volume in 2018

Access to

more capital

sources than

any other firm

in the industry

Optimum financing solutions

to enhance value

Our ability to enhance

buyer pool by expanding

finance options

Our ability to enhance

seller control

• Through buyer

qualification support

• Our ability to manage buyers

finance expectations

• Ability to monitor and

manage buyer/lender

progress, insuring timely,

predictable closings

• By relying on a world class

set of debt/equity sources

and presenting a tightly

underwritten credit file

WHY MMCC?

Closed 1,678

debt and equity

financings

in 2018

ACQUISITION FINANCING


27


29

MARKET

COMPARABLES


RENT COMPARABLES MAP

30


RENT COMPARABLES MAP

31


SALES COMPARABLES MAP

32

KILLINGSWORTH STATION FOOD CART

SQUARE

(SUBJECT)

1935 N Killingsworth Street

4931 N Williams Avenue

5681 NE Glisan Street

6936 N Maryland Avenue

1345 N McClellan Street

SALES COMPARABLES

ON MARKET COMPARABLES

1

2

3

4

5

33

PROPERTY NAMEKILLINGSWORTH STATION FOOD CART SQUARE

SALES COMPARABLES

Avg. $128.38

$0.00

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

$200.00

Killingsworth

Station Food

Cart Square

4931 N

Williams

Avenue

5681 NE

Glisan

Street

Average Price Per Square Foot

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


34

SALES COMPARABLES

Annual Per SF

Income $81,000 $44.80

Expenses $19,500 $10.79

NOI $61,500 $34.02

Occupancy 73.76%

Tenants Lease Type

Asking Price: $1,300,000

Price/SF: $129.75

CAP Rate: 4.73%

Year Built: 2014


1341 N Killingsworth St, Portland, OR, 972171

Close of Escrow 8/24/2018

Sales Price $1,435,000

Down Payment % 37%

Zoning CM2

NOTES

The comparable property is a similar size land parcel in proximity to the

subject property. The property had a former gas station that caused an

environmental clean-up. The Buyer purchased the property to build a

commercial multifamily mixed-use site with affordable housing.

1935 N KILLINGSWORTH STREET1935 N Killingsworth Street, Portland, OR, 99721

ENTITLED: YES

2


Sales Price $856,800

Zoning CM2

Price/SF $151.30

Lot Size (Acres) .13

Price/Acre $6,590,769

NOTES

The comparable property is a similar size land parcel in a similar location

and same CM2 zoning as the subject property.

4931 N WILLIAMS AVENUE4931 N Williams Avenue, Portland, OR, 97217

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


35

SALES COMPARABLES

NOTES

The comparable property is a similar CM2 zoned land parcel in a similar

location as the subject property.

3


Sales Price $1,470,000

Zoning CM2

Price/SF $105.46

Lot Size (Acres) .32

Price/Acre $4,593,750

5681 NE GLISAN STREET5681 NE Glisan Street, Portland, OR, 97213


37

MARKET

OVERVIEW

MARKET OVERVIEW

PORTLAND-VANCOUVEROVERVIEW

1

The Portland-Vancouver metro is located near the confluence of the

Columbia and Willamette rivers and stretches across the Oregon

border into Washington State. The region is composed of Multnomah,

Clackamas, Columbia, Washington and Yamhill counties in Oregon,

and Clark and Skamania counties in Washington.

Mount Hood and the Cascade Range stand to the east, and the

Oregon Coast Mountain Range lies to the west. The metro contains

approximately 2.5 million residents, with more than 644,000 people

residing in Portland, the area’s most populous city and the seat of

Multnomah County.

MARKET OVERVIEW

METRO HIGHLIGHTS

HIGH POPULATION GROWTH

The Portland-Vancouver metro has recorded more

than 20 years of positive net migration thanks to

expanding industries.

ALTERNATIVE-ENERGY INDUSTRY

The market’s educated workforce and research

institutions are attracting alternative-energy

companies to the region.

LOW BUSINESS COSTS

The cost of doing business is among the lowest on

the West Coast, supported by no state income tax

in Washington and no sales tax in Oregon.


MARKET OVERVIEW

ECONOMY▪ Lower land costs than other West Coast metros, a skilled labor pool and affordable,

abundant power attract companies to the region. The favorable tax structure, with no state

income taxes in Washington and no sales tax in Oregon, also lures businesses.

▪ The metro’s economy has shifted from timber to industries that include athletic and

outdoor activities, clean tech, advanced manufacturing and software.

▪ A diverse group of companies based in the metro include Nike, Daimler, Oregon Iron

Works, Intel and IBM.

SHARE OF 2018 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Providence Health & Services

Oregon Health and Sciences University

Portland State University

Kaiser Permanente

Legacy Health System

Nike, Inc.

Wells Fargo

The Kroger Co.

U.S. Bancorp

Intel Corp.* Forecast

2

MANUFACTURING11%

GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+

OTHER SERVICES 4%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

18%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

15%

6%

12% 10% 6%

15%


MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The metro is expected to add nearly 126,000 people over the next five years,

resulting in the formation of nearly 63,000 households.

▪ A median home price well above the U.S. level means 61 percent of households can

afford to own their home, which is below the national rate of 64 percent.

▪ Of residents age 25 and older, 36 percent hold bachelor’s degrees, and 13 percent

have also obtained a graduate or professional degree.

The metro contains more than 37,000 acres of parks and provides numerous outdoor

opportunities, including activities at Mount Hood and on the Hood River. The metro lies

60 miles east of the Pacific Ocean, with 330 miles of beaches along the Oregon coast.

Professional sports teams represent basketball, soccer and hockey. Cultural activities can

be found at various local venues, including the Portland Art Museum, World Forestry

Center Discovery Museum and the Portland Children’s Museum, and plays are staged at

the Portland Center for the Performing Arts. Major colleges and universities include Lewis

and Clark, Pacific University, the University of Portland and Portland State University. The

University of Oregon and Oregon State University are nearby.

QUALITY OF LIFE

3

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau


2018 Population by Age

0-4 YEARS

6%5-19 YEARS

18%20-24 YEARS

6%25-44 YEARS

30%45-64 YEARS

26%65+ YEARS

14%

38.0

2018MEDIAN AGE:

U.S. Median:

38.0

$68,800

2018 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$58,800

2.5M

2018POPULATION:

Growth2018-2023*:

5.1%

964K

2018HOUSEHOLDS:

6.5%

Growth2018-2023*:

41

Influx of new residents and visitors to Portland boosts demand for retail.

Approximately 21,000 individuals are expected to migrate to the metro this year,

drawn by the market’s vibrant job creation. Tourism has also risen for eight straight

years. The growing consumer base is contributing to a 7.7 percent jump in retail

sales, well above the U.S. level of 5.4 percent. As revenue improves, retailers are on

the lookout for quality space. Total completions for 2018 will surpass last year’s

deliveries but are still below the annual average for the cycle. Construction is taking

place largely outside the urban core, with almost 80 percent of arrivals going to the

submarkets of Southwest Portland, the I-5 Corridor and Clark County.

Extremely low vacancy supports healthy rent gains. Favorable demographics and

below-average construction activity have enabled vacancy to decline steadily over

the past seven years to a rate of 3.3 percent in 2018. Several areas of the market

have minimal availability of sub-2 percent, with almost no vacancy for multi-tenant

space in the centrally located CBD and Lloyd District submarkets. As availability falls,

rents are improving. Acute vacancy and minimal completions are driving above-

market growth rates in Northwest Portland and on the Westside.

• Retail properties in central Portland continue to perform well amid less

supply-side pressure. The average cap rate for assets downtown and in the

surrounding neighborhoods compressed below 6 percent over the past four

quarters, with an average sale price of $325 per square foot, just above the

market average of $313 per square foot.

• Transaction velocity roughly doubled in the Southwest submarket during the

12 months prior to July. Assets in the Portland-adjacent community of

Beaverton, itself the sixth largest city in Oregon, changed hands at an

average sale price of $400 per square foot.

• The strength of the Portland retail market is drawing investment from

elsewhere in the country, including Michigan and Minnesota. Foreign

investors from Canada are also targeting Portland, as evidenced by two

multi-property acquisitions that were made in August.

Retail 2018 OutlookNew Development Has No Impact on Tight Vacancy;

Rent Growth Continues

PORTLAND METRO AREA

Less vacant space is contributing to the

average monthly rent payment improving to

$19.93 per square foot this year. In 2017

rents appreciated 6.9 percent.

Net absorption improves year over year to

roughly 970,000 square feet, compressing

vacancy to 3.3 percent in 2018.

* Cap rates trailing 12 months through 2Q18; 10-Year Treasury up to June 29.

Sources: CoStar Group, Inc.; Real Capital Analytics

A total of 540,000 square feet will be

completed during 2018, up from 345,000

square feet last year. Roughly 85 percent of

this year’s inventory is pre-leased.

Investment Trends


42

EMPLOYMENT CONSTRUCTION VACANCY RENTS

PORTLAND METRO AREA

* Forecast


43

Vacancy

Rate

Y-O-Y

BasisPoint

Change

SubmarketAsking

Rent

Y-O-Y %

Change

Submarket Trends

Lowest Vacancy Rates 2Q18

Sales Trends

PORTLAND METRO AREA

• Multi-Tenant: A slightly faster pace of deal flow accompanied a 7 percent rise in the

average price per square foot to $270. The average cap rate compressed 50 basis

points into the low-6 percent range.

• Single-Tenant: Deal volume remained roughly unchanged year over year in June, while

the average price fell 6 percent to $348 per square foot. Fewer trades of premium

store and restaurant space affected pricing.

* Trailing 12 months through 2Q18 over previous time period.

Pricing trend sources: CoStar Group, Inc.; Real Capital Analytics

Yamhill County 2.2% 30 $15.57 -9.2%

Northeast 2.6% -80 $17.82 2.7%

Westside 3.0% 0 $18.38 8.6%

Southeast 3.2% -50 $17.13 2.3%

Lloyd District 3.7% -100 $22.90 1.4%

Southwest 3.7% -20 $21.71 -21.0%

Northwest 3.7% 90 $24.75 18.1%

Clark County 4.4% -90 $18.05 -1.2%

Central Business

District4.9% 50 $21.91 -7.7%

I-5 Corridor 5.4% -60 $19.35 -1.6%

Overall Metro 3.5% -60 $18.74 -2.3%


* Forecast **2017-2022

44

PORTLAND METRO AREA


•

•

•

Through Sept. 26

Sources: CoStar Group, Inc.; Real Capital Analytics

Capital Markets

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2018 Experian

Created on August 2019

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Population 25,840 158,932 333,977

▪ 2018 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Current Daytime Population

2018 Estimate 20,723 255,520 544,322

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Households 11,440 76,436 160,239

▪ 2018 Estimate


Average (Mean) Household Size 2.29 2.03 2.04

▪ 2010 Census


▪ 2000 Census


▪ Occupied Units

2023 Projection 11,440 76,436 160,239

2018 Estimate 11,097 74,942 157,637

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2018 Estimate

$150,000 or More 11.48% 14.63% 15.49%

$100,000 - $149,000 17.53% 15.90% 15.38%

$75,000 - $99,999 14.16% 13.23% 13.06%

$50,000 - $74,999 18.68% 16.38% 16.56%

$35,000 - $49,999 10.44% 10.31% 10.36%

Under $35,000 27.72% 29.55% 29.18%

Average Household Income $85,712 $93,700 $96,889

Median Household Income $66,470 $65,786 $66,093

Per Capita Income $37,239 $44,761 $46,317

HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 MilesTotal Average Household Retail Expenditure

$84,792 $84,027 $84,729

▪ Consumer Expenditure Top 10 Categories

Housing $22,876 $22,682 $22,769

Transportation $14,384 $14,427 $14,504

Shelter $14,296 $14,161 $14,209

Personal Insurance and Pensions $8,888 $8,890 $8,895

Food $8,453 $8,390 $8,423

Health Care $5,302 $5,340 $5,451

Entertainment $4,097 $4,066 $4,107

Utilities $4,089 $4,018 $4,037

Cash Contributions $2,333 $2,448 $2,538

Household Furnishings and Equipment

$2,170 $2,194 $2,221

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2018 Estimate Total Population 25,361 153,478 322,828

Under 20 17.79% 16.87% 16.90%

20 to 34 Years 29.02% 29.60% 28.89%

35 to 39 Years 12.49% 10.71% 10.12%

40 to 49 Years 16.75% 15.73% 15.35%

50 to 64 Years 15.34% 16.43% 17.13%

Age 65+ 8.59% 10.68% 11.61%

Median Age 36.22 36.57 36.99

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 19,629 117,683 247,723

Elementary (0-8) 3.21% 2.07% 1.89%

Some High School (9-11) 3.93% 3.64% 3.59%

High School Graduate (12) 13.23% 12.45% 12.44%

Some College (13-15) 21.99% 20.38% 20.21%

Associate Degree Only 6.39% 5.49% 5.77%

Bachelors Degree Only 33.05% 32.87% 32.74%

Graduate Degree 17.01% 22.36% 22.63%

45

Income

In 2018, the median household income for your selected geography is

$66,470, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 78.76%

since 2000. It is estimated that the median household income in your

area will be $77,248 five years from now, which represents a change

of 16.21% from the current year.

The current year per capita income in your area is $37,239, compare

this to the US average, which is $32,356. The current year average

household income in your area is $85,712, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 25,361. The

population has changed by 17.18% since 2000. It is estimated that

the population in your area will be 25,840.00 five years from now,

which represents a change of 1.89% from the current year. The

current population is 49.90% male and 50.10% female. The median

age of the population in your area is 36.22, compare this to the US

average which is 37.95. The population density in your area is

8,050.06 people per square mile.

Households

There are currently 10,993 households in your selected geography.

The number of households has changed by 27.83% since 2000. It is

estimated that the number of households in your area will be 11,440

five years from now, which represents a change of 4.07% from the

current year. The average household size in your area is 2.29 persons.

Employment

In 2018, there are 9,591 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

57.03% of employees are employed in white-collar occupations in

this geography, and 43.10% are employed in blue-collar occupations.

In 2018, unemployment in this area is 4.17%. In 2000, the average

time traveled to work was 26.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

70.43% White, 14.62% Black, 0.68% Native American and 3.92%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 8.24% of the current year

population in your selected area. Compare this to the US average of

18.01%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $342,408 in 2018,

compare this to the US average of $201,842. In 2000, there were

5,226 owner occupied housing units in your area and there were

3,374 renter occupied housing units in your area. The median rent at

the time was $515.

Source: © 2018 Experian

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