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TRIUMPH BELL WEST RANCH16846 W BELL ROAD | SURPRISE, AZ 85374

JASON REDDINGTON KERI DAVIES480.289.4504 [email protected] [email protected]

JON [email protected]

LevRose Commercial Real Estate is pleased to present the opportunity to acquire 16846 W Bell Road just off Bell Road and Loop 303. The C-C zoned property is a ±20,225 square foot multi-tenant shoppingcenter on a highly traveled intersection in Surprise, AZ.

The shopping center is on a hard corner with over 49,000 vehicles per day on Loop 303 and over 26,000 vehicles per day via Bell Road. This shopping center provides daily needs to a dense population. There areover 78,000 people in a one-mile radius and over 147,000 in a three mile-radius. This investment allows for the opportunity to acquire a high cash-flowing property. The property is listed at $5,635,000 which reflects a cap rate of 6.75% (NOI = $380,361). 16846 W Bell Road is a unique retail opportunity that includes a steady cash flow and a diverse tenant mix.

THE OFFERING

This information has been secured from sources believed to be reliable, but no representations or warranties are made, expressed or implied, as to the accuracy of the information.References to square footage are approximate. Buyer and tenant must verify the information and bears all risk for any inaccuracies. All quoted prices

are subject to change without notice.

PROPERTY ADDRESS: 16846 W BELL RDSURPRISE, 85374

OFFERING PRICE: $5,635,000

PRICE PER SF: $279 PSF

CAP RATE: 6.75%

NOI: $380,361

OCCUPANCY: 100%

PARKING: 7.97/1,000 SF156 Spaces

ZONING: C-C

YEAR BUILT: 2004

LOT SIZE: ±2.92 AC

BUILDING SIZE: ±20,225 SF

PARCEL: 232-39-969

SUMMARY



FINANCIAL ANALYSIS

INCOME

Scheduled Rental Income $360,468

Operating Expense Recover/CAM $137,377

Other Income $35.00

Suite 103-Rent Guaranty $24,840

NET RENT INCOME $522,720

Other Income

Late Fees, Admin Fees $10,700

TOTAL INCOME $533,420

EXPENSES

Direct Expenses $99,192

Property Tax $48,530

Insurance $5,337

TOTAL OPERATING EXPENSES $140,837

NET OPERATING INCOME $380,361



TENANT PROFILES

SUITE 105-107

SIZE ±4,320

SUITE 108-109

SIZE ±3,423

SUITE 108-109

SIZE ±3,423

Musical Surprise opened in the Harris Family living room in 2008 with a goal to make music accessible to everyone- regardless of their age or ability. The following year, it moved to an office park near Reems and Grand Ave and quickly grew to 125 students by offering piano, guitar, voice and drum lessons, music therapy services and preschool music in one location.

January 2nd of 2012, Musical Surprise moved to its current location at 303/Bell Rd so that it could continue to accept new students into it’s programs.

Orangetheory Fitness is a privately owned fitness franchise based in Boca Raton, Florida. It offers group personal training workouts based on high intensity interval training (HIIT) that blend cardio and strength training. There are locations throughout 45 states and 21 countries, with 700 US locations and a total of 1,000 locations worldwide, as of October 2018.

Orangetheory Fitness also has locations in Australia, Canada, Chile, China, Colombia, Costa Rica, the Dominican Republic, Germany, Guatemala, Hong Kong, Israel, Japan, Kuwait, Mexico, New Zealand, Peru, Singapore, Spain, the United Arab Emirates and the United Kingdom.

Pizza Hut is an American restaurant chain, international franchised and founded by Dan and Frank Carney in 1958. The company is known for its Italian-American cuisine menu, including pizza and pasta, as well as side dishes and desserts. Pizza Hut has 16,796 restaurants worldwide as of March 2018, making it the world's largest pizza chain in terms of locations. It is a subsidiary of Yum! Brands, Inc., one of the world's largest restaurant companies

Information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

BELL WEST RANCH SHOPS - Surprise, Arizona

13

Property Description

13

Site Plan

EASTHAM PARKWAY

BEL

L R

OA

D

SHO

PS A

113

112

111

110

108-109

100-102 105-107

114

BANK

AV

AIL

AB

LE

103

104

Suite SF

100-102

Tenant

3,420

103 Rent Guaranty 1,380

104 Little Amsterdam 1,200

105-107 Musical Surprise 4,320

108-109 OrangeTheory 3,423

110 Color Bar Salon 1,478

111 Forever Young Skin 1,187

112 Bell West Chiropractic 1,175

113 Hole in One Barber 1,042

114 Pizza Hut 1,600

Sports Bar

NAP

NAP

Suite Tenant SF

100-102

Sports Bar 3,420

103 Rent Guaranty 1,380

104 Smoke Shop 1,200

105-107

Musical Surprise 4,320

108-109

Orange Theory 3,423

110 Salon 1,478

111 Spa 1,187

112 Chirop. 1,175

113 Barber 1,042

114 Pizza Hut 1,600

SITE PLAN



Surprise is a city on the rise. Over the last fifteen years, the city’s population has increased by 393 percent and it has emerged as a sustainable community working towards global connectivity. Employment in construction, healthcare, retail and service sectors has been established, and the city is focused on bringing high quality jobs to its residents and investment-rich global companies to the community. Targeted initiatives have been launched to attract industry sectors

like renewable energy, advanced manufacturing, medical tourism, higher education and emerging technologies.

Employers and residents alike are attracted to the recreational amenities of this Sonoran-desert community. Surprise Stadium is the Spring Training home of Major League Baseball’s Texas Rangers and Kansas City Royals. The 25-court Surprise Tennis and Racquet Complex, largest in the southwest, attracts tennis legends and USTA tournaments, and

White Tank Mountain Regional Park offers 30,000 acres of hiking, biking and camping.

LOCATION OVERVIEW



The City of Surprise Arizona is located in the North West portion of Maricopa County and has a current population of 128,000 people. It is approximately 45 minutes from Downtown Phoenix. The community is surrounded by mountain park lands, a regional lake, and pristine open Sonoran desert.

• Major economic drivers include healthcare, Luke Air Force Base, andtourism

• Banner health employs more than 4,000 people in the Surprise areathrough the numerous clinics and hospitals they operate.

• Luke Air Force Base employs more than 8,000 military and civilian work-ers, with an overall impact on Arizona’s economy of $1.4 billion.

• Surprise is home to the Kansas City Royals and the Texas Rangers fortheir Cactus League Spring Training facilities. Their stadium seats ap-proximately 11,000 fans.

• Other amenities include the 25-court USTA facility that hosts numeroustournaments, 7 golf courses, the White Tank Mountain Regional Park,multiple parks, libraries, and public aquatic centers.

AREA OVERVIEW



NAP

NAP

NAP

W BELL ROAD

NAP

60.3 K 84.1K 7.1% 2.4%

12 Mo Deliveries in SF 12 Mo Net Absorption in SF Vacancy Rate 12 Mo Rent Growth

Current Quarter RBA Vacancy Rate Asking Rent

Power Center 1,540,570 3.2% $22.63

Neighborhood Center 2,337,422 8.3% $20.35

Strip Center 404,620 9.1% $18.23

General Retail 1,159,809 9.2% $19.25

Submarket 5,442,421 7.1% $20.61

Annual Trends 12 Month Historical Average Forecast Average

Vacancy Change (YOY) -0.5% 6.2% 7.4%

Net Absorption SF 84.1 K 153,756 26,857

MARKET REPORT



34.9%

28.8%

19.0%

8.8%

8.5%

MANAGEMENT

SALES

SERVICES

TRANSPORTATION

CONSTRUCTION

OCC

UPA

TIO

N

ADDRESS PRICE PSF CAP SIZE YEAR SOLD TENANT MIX

15508W Bell Rd $5,750,000 $405.59 6.90% ±14,177 SF 2001 8/13/2018Subway, Smoke Shop, Sports Clips, UPS Store, Nails, Salon

15332 W Bell Rd $4,690,000 $216.73 7.26% ±21,640 SF 2006 12/20/2017Lilly’s Café, Botanical Salon, Domino’s Pizza, Redline Grill, Yum Palace, Zen’s Café

16581 W Bell Rd $4,500,000 $380.87 6.58% ±11,815 SF 2008 3/30/2017Pet Club, Nail & Spa, Sports Clips, Dickey’s BBQ, Sonoran Cycles

Greenway Crossings $13,500,000 $281.75 6.99 % ±47,914SF 2006 9/7/2018Tanning, Salon, Fitness, Dental, Nails, PT, Deli, Pizza, Financial

Union Hills Square $4,960,000 $417.58 7.01% ±11,878 SF 2004 On MarketArrowhead Grill, Picazzo’s Union Hills, AllState Insurance

SALE COMPS



1 MILE 3 MILES 5 MILES

2018 Population 15,752 78,936 147,265

2023 Population 17,098 85,591 159,888

Pop Growth 8.54% 8.43% 8.57%

1 MILE 3 MILES 5 MILES

2018 Total HH 6,192 31,182 58,574

HH Growth 2023 9.16% 8.47% 8.40%

HH Income $67,679 $74,326 $74,296

COMING SOON!!



Surprise City Center

DevelopmentWestgate

Entertainment District

DowntownPhoenix

Surprise Stadium

High Density Residential

Planned High Density Assisted Living

Planned

CommercialDevelopment

Planned

Surprise Village Marketplace

CommercialPlanned

PrasadaMaster Planned

Community

Coming Soon

BellWestRanch



Surprise City Center

Development

Surprise Stadium

Surprise Village Marketplace

Coming Soon

Bell West Ranch

High Density Residential

Planned

High Density Assisted Living Planned

CommercialPlanned

CommercialPlanned

Surprise Towne Center& Market Place



TRIUMPH BELL WEST RANCH16846 W BELL ROAD | SURPRISE, AZ 85374

JASON REDDINGTON KERI DAVIES480.289.4504 [email protected] [email protected]

JON [email protected]

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