Offering Memorandum - LoopNet€¦ · WARNER ROBINS SFH PORTFOLIO 3 100 Kingsbury Cir • Warner...

WARNER ROBINS SFH PORTFOLIO 3100 Kingsbury Cir • Warner Robins, GA 31088

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. 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.

WARNER ROBINS SFH PORTFOLIO 3

Warner Robins, GA

ACT ID Y0230673

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02Rent Roll Summary

Rent Roll Detail

Operating Statement

Notes

Pricing Detail

Acquisition Financing

Growth Rate Projections

Cash Flow

MARKET COMPARABLES 03Sales Comparables

MARKET OVERVIEW 04Demographic Analysis



4

INVESTMENT

OVERVIEW


#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Logistics Management 3,000

Air Force US Dept of 1,694

Boeing 1,314

Robins Air Force Base 1,062

Hq Afrc/Dpic 1,000

Houston Healthcare 856

US Dept of Air Force 762

116th AGS/Ccq 700

Software Engineering Division 700

Video Warehouse Douglas Inc 502

Anchor Glass Container Corp 429

Aerospace Medicine Clinic 400

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2016 Estimate Pop 7,758 52,404 91,925

2016 Census Pop 7,510 50,048 86,288

2016 Estimate HH 2,965 20,673 35,782

2016 Census HH 2,886 19,836 33,745

Median HH Income $37,562 $38,290 $47,032

Per Capita Income $19,003 $19,655 $23,868

Average HH Income $49,475 $49,585 $61,037

UNIT MIX

NUMBEROF UNITS

UNIT TYPEAPPROX.SQUARE FEET

10 3 Bedroom 1,118

5 4 Bedroom 1,382

15 Total 18,096

VITAL DATA

Price $1,100,000 CURRENT PRO FORMA - YEAR 1

Down Payment 25% / $275,000 CAP Rate 10.26% 10.77%

Loan Amount $825,000 GRM 7.45 7.16

Loan Type Proposed NewNet Operating Income

$112,890 $118,495

Interest Rate / Amortization 5.00% / 30 YearsNet Cash Flow After Debt Service

21.73% / $59,745 20.13% / $55,350

Price/Unit $73,333 Total Return 26.15% / $71,916 24.78% / $68,144

Price/SF $60.79

Number of Units 15

Rentable Square Feet 18,096

Year Built 1970

5


#

OFFERING SUMMARY

� Located 19 Miles South of Macon, GA; 116 Miles Southeast of Hartsfield-Jackson

Atlanta International Airport

� Business Week Magazine in 2009 named Warner Robins one of the Best Places to

Raise Kids

� Money magazine named Warner Robins one of the Best Places to live in 2006

� Primarily Residential Area in Close Proximity to Downtown Warner Robins and 2.2

Miles from Robins Air Force Base

� 5-Mile Radius Average Household Income - $62,831

� Population within a 5-Mile Radius is over 98,000 People

INVESTMENT HIGHLIGHTS

The Livingston SF Homes Portfolio is a collection of residential communities located in Houston County, Warner Robins, GA. This portfolio consists of a combination of 2

bed/1 bath, 3 bed/1 bath, 3 bed/1.5 bath, 3 bed/ 2 bath, 4 bed/1.5 bath, 4 bed/2 bath, and 4 bed/2 single family homes. Most of the homes were constructed in the

1970s; most having either a carport, 1-car garage or a 2-car garage. The average age of the homes is 40 years with the majority of them having undergone renovation

within the last five years; much of that work included upgrades to utility systems. All homes have dedicated driveways, tenant-maintained yards, fenced backyards, and

are metered separately.

INVESTMENT OVERVIEW

6


PROPERTY SUMMARY

OFFERING SUMMARY

PROPOSED FINANCING

First Trust Deed

Loan Amount $825,000

Loan Type Proposed New

Interest Rate 5.00%

Amortization 30 Years

Loan Term 10 Years

Loan to Value 75%

Debt Coverage Ratio 2.12

7

REGIONAL MAP


8

LOCAL MAP


9

AERIAL PHOTO


10


11

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS


RENT ROLL SUMMARY

12

FINANCIAL ANALYSIS


13

RENT ROLL DETAIL

FINANCIAL ANALYSIS


OPERATING STATEMENT

14

FINANCIAL ANALYSIS


NOTES

15

FINANCIAL ANALYSIS


PRICING DETAIL

16

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

National platform

operating

within the firm’s

brokerage

offices

$5.1 billion

total national

volume in 2016

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 1,651

debt and equity

financings

in 2016

ACQUISITION FINANCING


17

FINANCIAL ANALYSIS


GROWTH RATE PROJECTIONS

18

FINANCIAL ANALYSIS


CASH FLOW

19


20

MARKET

COMPARABLES

8


SALES COMPARABLES MAP

21


(SUBJECT)

256 Valencia Circle

106 Victor Street

415 Ivelyn Court

104 Sidney Street

206 Meriwood Drive

429 Sentry Oak Drive

431 Sentry Oak Drive

SALES COMPARABLES

1

2

3

4

5

7

6

22

Avg. 10.80%

0

2

3

5

6

8

9

11

12

14

15

Warner

Robins SFH

Portfolio 3

256

Valencia

Circle

106 Victor

Street

415 Ivelyn

Court

104 Sidney

Street

206

Meriwood

Drive

429 Sentry

Oak Drive

431 Sentry

Oak Drive

Average Cap Rate

PROPERTY NAMEWARNER ROBINS SFH PORTFOLIO 3

SALES COMPARABLES

Avg. 7.48

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

9.00

10.00

Warner

Robins SFH

Portfolio 3

256

Valencia

Circle

106 Victor

Street

415 Ivelyn

Court

104 Sidney

Street

206

Meriwood

Drive

429 Sentry

Oak Drive

431 Sentry

Oak Drive

Average GRM

SALES COMPARABLES SALES COMPS AVG

23

Avg. $66.35

$0.00

$8.70

$17.40

$26.10

$34.80

$43.50

$52.20

$60.90

$69.60

$78.30

$87.00

Warner

Robins SFH

Portfolio 3

256

Valencia

Circle

106 Victor

Street

415 Ivelyn

Court

104 Sidney

Street

206

Meriwood

Drive

429 Sentry

Oak Drive

431 Sentry

Oak Drive

Average Price Per Square Foot

PROPERTY NAMEWARNER ROBINS SFH PORTFOLIO 3

SALES COMPARABLES

Avg. $80,297

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

$100,000

Warner

Robins SFH

Portfolio 3

256

Valencia

Circle

106 Victor

Street

415 Ivelyn

Court

104 Sidney

Street

206

Meriwood

Drive

429 Sentry

Oak Drive

431 Sentry

Oak Drive

Average Price Per Unit

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


24

SALES COMPARABLES

Units Unit Type

Offering Price: $1,100,000 10 3 Bdr

Price/Unit: $73,333 5 4 Bdr

Price/SF: $60.79

CAP Rate: 10.26%

GRM: 7.45

Total No. of Units: 15

Year Built: 1970

Underwriting Criteria

Income $147,600 Expenses $34,710

NOI $112,890

WARNER ROBINS SFH PORTFOLIO 3100 Kingsbury Cir, Warner Robins, GA, 31088

1

Close Of Escrow: 3/16/2017

Days On Market: 83

Sales Price: $66,000

Price/Unit: $66,000

Price/SF: $58.67

CAP Rate: 12.73%

GRM: 6.15


Year Built: 1964


Expenses $2,126

256 VALENCIA CIRCLE256 Valencia Circle, Centerville, GA, 31028


Days On Market: 76


Price/Unit: $67,505

Price/SF: $56.44

CAP Rate: 12.44%

GRM: 6.29


Year Built: 1968


Expenses $2,126

2

106 VICTOR STREET106 Victor Street, Warner Robins, GA, 31088

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


25

SALES COMPARABLES


Days On Market: 76


Price/Unit: $89,705

Price/SF: $66.15

CAP Rate: 9.36%

GRM: 8.35


Year Built: 1971


Expenses $2,126

3

415 IVELYN COURT415 Ivelyn Court, Warner Robins, GA, 31088

4


Days On Market: 76


Price/Unit: $60,792

Price/SF: $54.04

CAP Rate: 13.82%

GRM: 5.66


Year Built: 1964


Expenses $2,126

104 SIDNEY STREET104 Sidney Street, Warner Robins, GA, 31093


Days On Market: 89


Price/Unit: $98,424

Price/SF: $61.86

CAP Rate: 8.53%

GRM: 9.16


Year Built: 1980


Expenses $2,126

5

206 MERIWOOD DRIVE206 Meriwood Drive, Warner Robins, GA, 31093

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


26

SALES COMPARABLES


Days On Market: 394


Price/Unit: $91,346

Price/SF: $85.05

CAP Rate: 9.19%

GRM: 8.51


Year Built: 1970


Expenses $2,126

6

429 SENTRY OAK DRIVE429 Sentry Oak Drive, Warner Robins, GA, 31093

7


Days On Market: 89


Price/Unit: $88,310

Price/SF: $82.23

CAP Rate: 9.51%

GRM: 8.22


Year Built: 1970


Expenses $2,126

431 SENTRY OAK DRIVE431 Sentry Oak Drive, Warner Robins, GA, 31093


27

MARKET

OVERVIEW

Income

In 2016, the median household income for your selected geography is

$37,562, compare this to the US average which is currently $54,505.

The median household income for your area has changed by 8.13%

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

area will be $40,755 five years from now, which represents a change

of 8.50% from the current year.

The current year per capita income in your area is $19,003, compare

this to the US average, which is $29,962. The current year average

household income in your area is $49,475, compare this to the US

average which is $78,425.

Population

In 2016, the population in your selected geography is 7,758. The

population has changed by 3.23% since 2000. It is estimated that the

population in your area will be 7,715.00 five years from now, which

represents a change of -0.55% from the current year. The current

population is 48.78% male and 51.22% female. The median age of

the population in your area is 34.35, compare this to the US average

which is 37.68. The population density in your area is 2,469.68 people

per square mile.

Households

There are currently 2,965 households in your selected geography. The

number of households has changed by -0.97% since 2000. It is

estimated that the number of households in your area will be 2,961

five years from now, which represents a change of -0.13% from the

current year. The average household size in your area is 2.59 persons.

Employment

In 2016, there are 3,105 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

52.05% of employees are employed in white-collar occupations in

this geography, and 47.42% are employed in blue-collar occupations.

In 2016, unemployment in this area is 8.86%. In 2000, the average

time traveled to work was 21.00 minutes.

Race and Ethnicity

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

49.36% White, 41.02% Black, 0.11% Native American and 1.10%

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

70.77% White, 12.80% Black, 0.19% Native American and 5.36%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 8.56% of the current year

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

17.65%.

PROPERTY NAME

MARKETING TEAM


Housing

The median housing value in your area was $79,134 in 2016, compare

this to the US average of $187,181. In 2000, there were 1,940 owner

occupied housing units in your area and there were 1,054 renter

occupied housing units in your area. The median rent at the time was

$432.

Source: © 2016 Experian

DEMOGRAPHICS

29

8


DEMOGRAPHICS

30

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