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RETAIL STRIP CENTER2400 Florin Rd • Sacramento, CA 95822

Offering Memorandum

1

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. Â© 2017

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.

RETAIL STRIP CENTER

Sacramento, CA

ACT ID Z0010060

2

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Location Overview

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02Tenant Summary

Lease Expiration Chart

Operating Statement

Notes

Pricing Detail

Acquisition Financing

MARKET COMPARABLES 03Sales Comparables

MARKET OVERVIEW 04

Market Analysis

Demographic Analysis

RETAIL STRIP CENTER

3

RETAIL STRIP CENTER

4

INVESTMENT

OVERVIEW

RETAIL STRIP CENTER

#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Uc Davis Medical Center 10,620

Kaiser Permanente South 3,600

Department of Ane 3,575

Medical Centre 3,575

Sacramento Municpl Utility Dst 3,000

Sacramento Bee 2,502

Justice California Department 2,197

Criminal Justice Info Div 2,000

West Sacramento Post Office 1,650

Fire Department 1,622

CVS Health Corporation 1,520

Countywide Services Agency 1,200

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 23,795 166,932 350,397

2017 Census Pop 21,746 154,287 324,462

2017 Estimate HH 6,972 54,323 120,022

2017 Census HH 6,587 51,309 113,064

Median HH Income $35,114 $42,952 $48,385

Per Capita Income $14,263 $20,137 $23,641

Average HH Income $47,916 $61,429 $68,613

VITAL DATA

YEAR 1 YEAR 2

Price $2,595,000 CAP Rate 6.27% 6.41%

Down Payment 40% / $1,038,000Net Operating Income

$162,639 $166,320

Loan Amount $1,557,000Net Cash Flow After Debt Service

5.51% / $57,190 6.33% / $65,748

Loan Type Proposed New Total Return 8.76% / $90,952 9.74% / $101,114

Interest Rate / Amortization 4.65% / 25 Years

Gross Leasable Area (GLA) 7,360 SF

Price/SF $352.58

Current Occupancy 100.0%

Year Built / Renovated 2006 / 0

Lot Size 0.87 acre(s)

5

RETAIL STRIP CENTER

OFFERING SUMMARY

▪ 100 Percent Leased to Six Tenants Providing Excellent Tenant Mix

▪ Corner Location at Signalized Intersection

▪ Over 49 Percent of the Property Leased to Corporate Tenants

▪ Attractive Building Design

INVESTMENT HIGHLIGHTS

The subject property is an attractive multi-tenant retail strip center located at the signalized corner of Florin Road & 24th Street in Sacramento, California.

The sellers, who acquired the property from the original developer when it was newly constructed in 2006 have not had a vacancy for the last 11 years. The anchor tenant

is Subway occupying approximately 19 percent of the center on a 10 year corporate lease. Subway has 44,000 locations across the world operated by more than 21,000

franchisees. Allied Cash Advance, who occupies approximately 15 percent of the center is also on a corporate lease. Allied Cash Advance is headquartered in Cincinnati,

Ohio with locations nationwide. Their only Sacramento location is at the subject property. Premier Insurance Services who occupies 15 percent of the property is on a

corporate lease with 30 locations in California.

The daily traffic count reported at this location is in excess of 46,000, with business generators such as a Walgreen's located directly across the street and the County of

Sacramento Department of Human Services office located next door.

Sacramento, the state Capital has a reported city population exceeding 485,000 making it the sixth largest city in California. It's reported that approximately 160,469 people

live within a three mile radius of the subject property with an Average Household Income of $61,429 within the same three mile radius.

The existing tenant leases are triple net, with five of the six leases call for annual rent increases which will increase the property owner’s cash flow during the coming years

of ownership.

INVESTMENT OVERVIEW

6

LOCATION OVERVIEW

CLOSE PROXIMITY TO:

2400 Florin Rd, Sacramento, CA 95822

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMERETAIL STRIP CENTER

PRICING AND VALUATION MATRIX


LOCATION OVERVIEW

7

REGIONAL MAP

RETAIL STRIP CENTER

8

LOCAL MAP

RETAIL STRIP CENTER

9

AERIAL PHOTO

RETAIL STRIP CENTER

10

PROPERTY PHOTOS

RETAIL STRIP CENTER

11

12

SITE PLAN

RETAIL STRIP CENTER

*Not to scale

RETAIL STRIP CENTER

13

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

RETAIL STRIP CENTER

14

TENANT SUMMARY

12

TENANT SUMMARYFINANCIAL ANALYSIS

RETAIL STRIP CENTER

15

FINANCIAL ANALYSIS

RETAIL STRIP CENTER

OPERATING STATEMENT

16

FINANCIAL ANALYSIS

RETAIL STRIP CENTER

PRICING DETAIL

17

RETAIL STRIP CENTER

18

MARKET

COMPARABLES

RETAIL STRIP CENTER

SALES COMPARABLES MAP

19

RETAIL STRIP CENTER

(SUBJECT)

5363 - 5379 H St

1310 Howe Ave

Vista Crossings

1229 Howe Ave

5044 Madison Ave

Harbor Pointe Place

SALES COMPARABLES

ON MARKET COMPARABLES

1

2

3

4

5

6

20


SALES COMPARABLES

Avg. 6.16%

Avg. 5.68%

0.0

0.7

1.4

2.1

2.8

3.5

4.2

4.9

5.6

6.3

7.0

Retail

Strip

Center

5363 - 5379

H St

1310

Howe Ave

Vista

Crossings

1229

Howe Ave

5044

Madison Ave

Harbor

Pointe

Place

Average Cap Rate

Avg. $280.28

Avg. $561.51

$0.00

$70.00

$140.00

$210.00

$280.00

$350.00

$420.00

$490.00

$560.00

$630.00

$700.00

Retail

Strip

Center

5363 - 5379

H St

1310

Howe Ave

Vista

Crossings

1229

Howe Ave

5044

Madison Ave

Harbor

Pointe

Place

Average Price Per Square Foot

SALES COMPARABLES

ON MARKET COMPARABLES

SALES COMPS AVG

ON MARKET COMPS AVG

PROPERTY NAME

MARKETING TEAM

RETAIL STRIP CENTER

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


21

SALES COMPARABLES ON MARKET COMPARABLES

Annual Per SF

Income $212,006 $28.81

Expenses $49,367 $6.71

Vacancy Fee 5%

NOI $162,639 $22.10

Occupancy 100.0%

Asking Price: $2,595,000

Price/SF: $352.58

CAP Rate: 6.27%

Year Built: 2006

RETAIL STRIP CENTER2400 Florin Rd, Sacramento, CA, 95822

1

NOTES

100% leased to seven tenants.

Close Of Escrow: 9/19/2017

Sales Price: $1,737,500

Price/SF: $329.70

CAP Rate: 6.11%

Year Built: 1985

5363 - 5379 H ST5363 H St, Sacramento, CA, 95819

2

NOTES

100% leased to four tenants.



Price/SF: $275.00

CAP Rate: 6.50%

Year Built: 1978

1310 HOWE AVE1310 Howe Ave, Sacramento, CA, 95825

PROPERTY NAME

MARKETING TEAM

RETAIL STRIP CENTER

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


22


3

NOTES

Two tenant property with AutoZone occupying 78% of space on a

10 year lease. The other space has a one year seller rent

guaranty.



Price/SF: $236.14

CAP Rate: 5.88%

Year Built: 1989

VISTA CROSSINGS779 E Monte Vista Ave, Vacaville, CA, 95688

4

NOTES

100% leased to three tenants.

On Market

List Price: $5,084,800

Price/SF: $638.63

CAP Rate: 6.00%

Year Built: 2017

1229 HOWE AVE1229 Howe Ave, Sacramento, CA, 95825

5

NOTES

100% leased to three tenants. The CAP rate reflects a 5%

vacancy fee.

On Market


Price/SF: $465.04

CAP Rate: 6.14%

Year Built: 1976

5044 MADISON AVE5044 Madison Ave, Sacramento, CA, 95841

PROPERTY NAME

MARKETING TEAM

RETAIL STRIP CENTER

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


23


6

NOTES

100% leased to three tenants, anchored by Starbucks occupying

33.5% of the space.

On Market


Price/SF: $580.87

CAP Rate: 4.90%

Year Built: 2003

HARBOR POINTE PLACE715 Harbor Pointe Pl, West Sacramento, CA, 95605

RETAIL STRIP CENTER

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MARKET

OVERVIEW

MARKET OVERVIEW

SACRAMENTOOVERVIEW

The Sacramento-Roseville-Arden-Arcade metro is composed of four

counties: Sacramento, El Dorado, Placer and Yolo, located in the

middle of the 400-mile-long Central Valley of California. Unlike the

nearby San Francisco Bay Area, Sacramento is seismically quiet. The

area contains nearly 2.3 million people. Sacramento, the state capital,

is the most populous city, with approximately 500,000 residents,

followed by Elk Grove and Roseville with 162,000 and 128,400,

respectively. During the next five years, a more affordable cost of

living and infill redevelopment projects will help draw businesses and

residents to the area.

MARKET OVERVIEW

METRO HIGHLIGHTS

SOLID JOB CREATION

Lower costs than nearby metros attract businesses

and drive job creation above the U.S. level. Many

commuters into the Bay Area also reside in the area.

POPULATION GROWTH

Employment opportunities and redevelopment

efforts will contribute to pushing Sacramento’s

population growth above the national average.

LOW COST OF LIVING

Sacramento’s median home price is more

affordable than many other California metros.

RETAIL STRIP CENTER

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MARKET OVERVIEW

ECONOMY▪ Sacramento serves as the state capital, making the government sector important to the

region’s economy, though less so than in the past as the economy diversifies.

▪ Sacramento’s seismic stability and low business costs compared with the region attract

major corporations seeking to establish operations. Among these are Intel Corp., Apple

Computer and Siemens Transportation Systems.

▪ DHL and United Parcel Service use the former Mather Air Force Base to ship freight. The

former McClellan Air Force Base is now an industrial park and includes tenants such as

Northrop Grumman and J.C. Penney.

SHARE OF 2016 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

California State University Sacramento

Sutter Health

Kaiser Permanente

Raley’s Inc.

Intel Corp.

Catholic Healthcare West

University of California Davis

UC Davis Health System

Hewlett-Packard Co.

Target Corp.* Forecast

MANUFACTURING

4%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

16%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

13%

6%

25% 10% 6%

16%

RETAIL STRIP CENTER

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MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The metro is expected to add nearly 160,000 people through 2021, resulting in the

formation of nearly 60,000 households.

▪ A median home price well above the national median has produced a

homeownership rate of 59 percent, compared with the national rate of 64 percent.

▪ Among residents age 25 and older, 30 percent hold bachelor’s degrees and 10

percent also have a graduate or professional degree.

Residents and visitors to Sacramento can enjoy many recreational activities. The region is

home to professional sports teams such as the Kings (NBA), Sirens (IWFL) and the River

Cats. A short drive from the city leads to some of the world’s finest wine-producing

regions: the Napa, Sonoma and Alexander valleys. The area offers various cultural

opportunities including the ballet, opera, museums, a zoo and music festivals. In addition

to four community colleges, there are two universities located in the region: California State

University, Sacramento and University of California, Davis. Housing is relatively affordable

in the Sacramento region compared with the nearby San Francisco Bay Area, drawing

many residents.

36.9

2016MEDIAN AGE:

U.S. Median:

37.7

$59,700

2016 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$54,500

2.3M

2016POPULATION:

Growth2016-2021*:

7.1%

830K

2016HOUSEHOLDS:

7.1%

Growth2016-2021*:

QUALITY OF LIFE

2016 Population by Age

0-4 YEARS

6%5-19 YEARS

20%20-24 YEARS

7%25-44 YEARS

27%45-64 YEARS

26%65+ YEARS

14%

* Forecast

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

Analytics; U.S. Census Bureau

RETAIL STRIP CENTER

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MARKET OVERVIEW

28

Broad employment base powers retail improvement. Boosted by a diverse scope

of industries, both public and private, the Sacramento metro has generated a virtuous

cycle of rising demand as new positions are rapidly added in healthcare and

education fields. Meanwhile, the state government and related services remain

substantial drivers of regional demand, encouraging an unemployment rate that has

fallen below 5 percent this year. Retail performance has followed suit, with the

vacancy rate dropping to the lowest level since 2008. However, rent levels have yet

to recover to the same extent, which has slowed development this cycle, generating

significant improvement in well-located centers and net-leased concepts.

Construction reaches a cycle high as Delta Shores deliveries begin to hit the

market. After barely exceeding 600,000 square feet for most of the recovery,

completions will rise to nearly 1 million square feet this year, driven largely by the

beginning parcels of the Delta Shores project. At 1.3 million square feet of

commercial space and over 4,900 residential units, the 800-acre site will transform

the infill location with convenient access from Interstate 5. The resulting marketplace

will post a moderate decline in vacancy, while rent growth will remain marginal.

• Drawn by cap rates that can begin in the mid-5 to mid-7 percent range, Bay

Area investors have been flocking to the region as low unemployment and

improving retail operations drive significant opportunities. Upward pressure

on pricing remains in place amid these factors.

• Deal flow and dollar volume are rising as more investors enter the

marketplace. Well-located neighborhood centers with freeway access in

Roseville and Rocklin are generating significant interest, with cap rates as

low as 5.5 percent. Infill properties in the core will exchange ownership near

the same first-year return range.

• Many investors are seeking value-add opportunities, driven by rents that are

still below the pre-recession peak. Properties with above-average vacancy or

opportunities to redevelop and update spaces are in high demand,

particularly those near major interstates and thoroughfares.

Retail 2017 OutlookTightening Marketplace Spurs

Yield-Seeking Investors to Retail Assets

SACRAMENTO METRO AREA

960,000 sq. ft.

will be completed

0.5% increase

in asking rents

70 basis point

decrease in vacancy

Construction:

The average asking rent will rise to $17.02

per square foot this year as newer spaces

are brought to market.

Robust net absorption will outpace deliveries

this year, trimming vacancy to 7.6 percent.

* Cap rates trailing 12 months through 2Q17; 10-year Treasury rate through Aug.

Sources: CoStar Group, Inc.; Real Capital Analytics

The volume of space brought to market this

year will far exceed 2016 levels.

Vacancy:

Rents:

Investment Trends

RETAIL STRIP CENTER

MARKET OVERVIEW

29

• During the past year,

Sacramento employers added

13,300 positions, expanding local

payrolls by 1.4 percent. The

education and healthcare sector

created the most jobs, adding

6,030 workers over this time

frame.

• Labor market strength has

translated into a considerably

tight unemployment rate,

reaching 4.6 percent by the end

of the second quarter.

EMPLOYMENT

• The pace of completions slowed

over the last four quarters, falling

from 523,000 square feet to

380,000 square feet. Projects

inside Sacramento County made

up the majority of delivered

space.

• The first completions at Delta

Shores, the 800-acre master-

planned, mixed-use

development, will come online in

the second part of 2017.

CONSTRUCTION

• Elevated net absorption

triggered a 90-basis-point

contraction in the metro vacancy

rate to 7.7 percent by the end of

the second quarter.

• Vacancy remains lowest in Yolo

County yet rose 110 basis points

to 4.5 percent as net absorption

was unable to surpass meager

supply increases. Sacramento

County vacancy was 8.7

percent.

VACANCY

• The average asking rent rose

marginally to $16.09 per square

foot, reflecting widespread

dispersion in rent changes over

the last year.

• El Dorado County led the metro,

with the average asking rent

soaring 27.3 percent to $25.38

per square foot, the highest rate

in the metro. Meanwhile, Yolo

County pricing contracted 11.2

percent to $14.01 per square

foot.

RENTS


increase in the

average asking rent

Y-O-Y

0.1%basis point decrease

in vacancy Y-O-Y90square feet

completed Y-O-

Y

380,000increase in total

employment Y-O-Y1.4%

* Forecast

2Q17 - 12-MONTH TREND

RETAIL STRIP CENTER

MARKET OVERVIEW

30

Broad Appreciation Spurs Investor Allocations;

Cap Rates Remain Supportive of Capital Inflows

Outlook: Locations along major freeways

in first-tier suburbs will receive significant

investor interest, particularly grocery-

anchored properties.

Vacancy

Rate

Y-O-Y

BasisPoint

Change

SubmarketAsking

Rent

Y-O-Y%

Change

Submarket Trends

Lowest Vacancy Rates 2Q17

Sales Trends


• Multi-Tenant: Strong net absorption and improving operations powered an 8.1 percent

rise in prices per square foot to more than $235, buoyed by properties in the urban

core.

• Single-Tenant: Net-leased concepts posted price increases in the double digits, with

appreciation of 10.5 percent to more than $355 per square foot for quality offerings,

particularly quick-service restaurants.

* Trailing 12 months through 2Q17

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

Yolo County 4.5% 110 $14.01 -11.2%

El Dorado County 5.2% -130 $25.38 27.3%

Placer County 5.7% -90 $15.84 -6.6%

Sacramento County 8.7% -100 $15.43 -0.4%

Overall Metro 7.7% -90 $16.09 0.1%

RETAIL STRIP CENTER

Demographic Highlights

2017 JOB

GROWTH*

FIVE-YEAR

POPULATION

GROWTH**

116,800 or 1.0%

FIVE-YEAR

HOUSEHOLD

GROWTH*

2Q17 MEDIAN

HOUSEHOLD

INCOME

RETAIL SALES

FORECAST**

Metro 18.2%U.S. 21.1%

$3,295 Per Household

$1,210 Per Person

2017 RETAIL SALES PER MONTH

* Forecast **2017-2022

Metro 2.1%

U.S. Average 1.4%

Metro $67,341U.S. Average $58,672

U.S. $3,785

U.S. $1,454

Annual GrowthU.S. 0.7% Annual Growth

64,000 or 1.5%Annual GrowthU.S. 1.1% Annual Growth

MARKET OVERVIEW

31

• Monetary policy in transition. Despite the Fed raising its benchmark short-term rate three

times in seven months and signaling another rise before the end of the year, long-term rates

have remained stable. The yield on the 10-year U.S. Treasury bond remained in the low- to

mid-2 percent range throughout the second quarter of 2017. The Federal Reserve wants to

normalize monetary policy and, in addition to rate hikes, will likely start paring its balance

sheet.

• Sound economy a balancing act for Fed. With unemployment hovering in the low-4 percent

range, the lowest level since 2007, the Federal Reserve will remain vigilant regarding a

possible rapid increase in inflation if wage growth takes off. Additionally, business confidence

and job openings are near all-time highs. Businesses finally have the assurance to expand

their footprints after years of tepid growth following the Great Recession. The Fed, however,

must now balance economic growth and job creation against wage growth and inflationary

pressures.

• Underwriting discipline persists; ample debt capital remains. Overall, leverage on

acquisition loans has continued to reflect disciplined underwriting, with LTVs typically ranging

from 60 percent to 70 percent for most retail properties. At the end of 2016, the combination of

increasing rates, conservative lender underwriting and fiscal policy uncertainty encouraged

some investor caution that slowed deal flow, a trend that has extended into 2017. A potential

easing of regulations on financial institutions, though, could liberate additional lending capacity

and nominally higher interest rates may also encourage additional lenders to participate.

* Forecast

Sources: CoStar Group, Inc.; Real Capital Analytics


Capital Markets

RETAIL STRIP CENTER

PROPERTY NAME

MARKETING TEAM

RETAIL STRIP CENTER

DEMOGRAPHICS

Source: © 2017 Experian

Created on February 2018

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Population 22,857 163,590 348,145

▪ 2017 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Current Daytime Population

2017 Estimate 18,317 120,882 296,339

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2022 Projection

Total Households 7,111 55,382 123,187

▪ 2017 Estimate


Average (Mean) Household Size 3.22 2.91 2.80

▪ 2010 Census


▪ 2000 Census


▪ Occupied Units

2022 Projection 7,111 55,382 123,187

2017 Estimate 7,194 56,675 124,630

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2017 Estimate

$150,000 or More 2.36% 6.00% 7.67%

$100,000 - $149,000 6.54% 9.48% 11.46%

$75,000 - $99,999 9.41% 10.34% 11.81%

$50,000 - $74,999 16.23% 17.64% 17.75%

$35,000 - $49,999 15.60% 14.53% 13.56%

Under $35,000 49.86% 42.02% 37.75%

Average Household Income $47,916 $61,429 $68,613

Median Household Income $35,114 $42,952 $48,385

Per Capita Income $14,263 $20,137 $23,641

HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles

Total Average Household Retail Expenditure

$54,027 $61,484 $66,747

▪ Consumer Expenditure Top 10 Categories

Housing $16,555 $18,419 $19,766

Shelter $11,093 $12,226 $13,139

Transportation $8,326 $9,702 $10,421

Food $5,684 $6,364 $6,835

Personal Insurance and Pensions $4,194 $5,256 $6,026

Health Care $3,017 $3,396 $3,591

Utilities $2,726 $2,998 $3,133

Entertainment $1,969 $2,353 $2,563

Apparel $1,549 $1,861 $2,131

Household Operations $1,152 $1,357 $1,476

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2017 Estimate Total Population 23,795 166,932 350,397

Under 20 31.27% 29.34% 27.76%

20 to 34 Years 22.06% 22.81% 22.86%

35 to 39 Years 5.84% 6.04% 6.45%

40 to 49 Years 10.82% 11.04% 11.80%

50 to 64 Years 16.17% 17.19% 17.98%

Age 65+ 13.84% 13.60% 13.14%

Median Age 32.43 33.43 34.57

▪ Population 25+ by Education Level

2017 Estimate Population Age 25+ 14,556 105,642 228,126

Elementary (0-8) 10.76% 8.50% 6.98%

Some High School (9-11) 13.20% 10.99% 9.47%

High School Graduate (12) 28.20% 25.81% 23.21%

Some College (13-15) 23.68% 22.09% 23.14%

Associate Degree Only 6.52% 7.61% 8.29%

Bachelors Degree Only 8.91% 12.86% 15.67%

Graduate Degree 2.64% 6.19% 8.10%

32

Income

In 2017, the median household income for your selected geography is

$35,114, compare this to the US average which is currently $56,286.

The median household income for your area has changed by 18.83%

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

area will be $39,081 five years from now, which represents a change

of 11.30% from the current year.

The current year per capita income in your area is $14,263, compare

this to the US average, which is $30,982. The current year average

household income in your area is $47,916, compare this to the US

average which is $81,217.

Population

In 2017, the population in your selected geography is 23,795. The

population has changed by 8.23% since 2000. It is estimated that the

population in your area will be 22,857.00 five years from now, which

represents a change of -3.94% from the current year. The current

population is 48.52% male and 51.48% female. The median age of

the population in your area is 32.43, compare this to the US average

which is 37.83. The population density in your area is 7,565.68 people

per square mile.

Households

There are currently 6,972 households in your selected geography. The

number of households has changed by 7.01% since 2000. It is

estimated that the number of households in your area will be 7,111

five years from now, which represents a change of 1.99% from the

current year. The average household size in your area is 3.22 persons.

Employment

In 2017, there are 4,204 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

50.34% of employees are employed in white-collar occupations in

this geography, and 49.82% are employed in blue-collar occupations.

In 2017, unemployment in this area is 9.81%. In 2000, the average

time traveled to work was 27.00 minutes.

Race and Ethnicity

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

24.30% White, 22.92% Black, 4.00% Native American and 20.46%

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

70.42% White, 12.85% Black, 0.19% Native American and 5.53%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 37.05% of the current year

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

17.88%.

PROPERTY NAME

MARKETING TEAM

RETAIL STRIP CENTER

Housing

The median housing value in your area was $171,555 in 2017,

compare this to the US average of $193,953. In 2000, there were

3,869 owner occupied housing units in your area and there were

2,646 renter occupied housing units in your area. The median rent at

the time was $512.

Source: © 2017 Experian

DEMOGRAPHICS

33

8

RETAIL STRIP CENTER

DEMOGRAPHICS

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