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Home Depot Dallas, TX Home Depot Dallas, TX LONG-TERM ABSOLUTE NNN ASSET With Assumable Financing 2800 Forest Lane, Dallas TX (map) Home Depot PROperty Summary Listing Team 2800 Forest Lane, Dallas TX (map) Contact Info PRICE: $20,185,000 zEB rIPPLE [email protected] | (415) 274-2702 CAP: 5.45% CA BRE# 01002010 Chris Kostanecki RENTABLE SF . 163,545 SF [email protected] | (415) 274-2701 PRICE PER SF . $123.42 CA BRE# 00869657 LAND AREA ..................14.85 Acres Chris peters [email protected] | (415) 274-2703 ANNUAL RENT/FT .............$6.73 CA BRE# 01339983 LEASE EXPIRATION ............1/31/2037 ASSUMABLE FINANCING* ......$14,022,174 In Conjunction with TX Licensed Broker: INTEREST RATE ...............4.25% Steve Sieling, Azur Commercial Capital, LLC [email protected] | (214) 888-8262 LOAN MATURITY DATE .........5/31/2024 *This loan must be assumed at closing. HOME DEPOT | 2 core characteristics FREESTANDING HOME DEPOT LOCATED IN A DOMINANT recent long-term extension demonstrates RETAIL AREA WITH DIRECT ACCESS FROM INTERSTATE 635 IN DALLAS, TX (AN INCOME TAX FREE STATE). tenant’s commitment to this location LEASE HIGHLIGHTS EASILY ACCESSIBLE This absolute NNN lease is corporately guaranteed and has over 21 years The site features excellent ingress/egress from Forest Lane and is located remaining on the primary term. The lease features rent escalations throughout just off the Lyndon B Johnson Freeway. Combined traffic counts past the the primary term and in each option, providing for inflation protection in the site are currently greater than 300,000 cars per day. The Home Depot is future. in close proximity to the I-635, where the nearly $3 billion LBJ Express project has now been completed (see page 5 for more details). INVESTMENT HIGHLIGHTS Home Depot has a current S&P credit rating of “A”, with continued growth of INFILL RETAIL revenue and profit. The tenant recently extended the lease for an additional 20 The subject property is a truly infill site in Dallas proper and benefits from years, demonstrating a strong commitment to this location. excellent demographics. The population in a 5-mile radius is greater than 250,000 with average incomes in excess of $87,000. Ideally situated The subject property is being offered with attractive in-place financing that along Forest lane, a dense trail corridor, Home Depot benefits from close must be assumed, offsetting an investors risk due to recent instability in debt proximity to national retailers such as CVS, LA Fitness, Burlington Coat markets (see page 8 for details). Factory, Starbucks Courtyard Marriot and several others. HOME DEPOT | 3 photos SITE FEATURES EXCELLENT INGRESS/EGRESS FROM FOREST LANE AND IS LOCATED JUST OFF THE LYNDON B JOHNSON FREEWAY HOME DEPOT | 4 UNDERSTANDING FUTURE TRAFFIC FLOW VALLEY VIEW VALLEY VIEW JOE RATCLIFF WALKWAY TI BLVD GREENVILLE COIT 635 LUNA T T T 635 635 ONE WAY JOSEY FOREST MERIT ROSSER REEDER T HARRY HINES DENTON FOREST CENTRAL PARK CROWN T 75 DENNIS MARSH WELCH 635 MIDWAY 35E PRESTON HILLCREST 277,840 DAILY ROYAL ROYAL MONTFORT ROYAL WEBB CHAPEL EMERALD UNDERSTANDING FUTURE TRAFFIC FLOW DALLAS DALLAS NORTH TOLLWAY WALNUT HILL WALNUT HILL WALNUT HILL VALLEY VIEW VALLEY VIEW RECENTLY COMPLETED, MASSIVE INTERSTATE PROJECT DTIRECTLY BENEFITS SUBJECT PROPERTY JOE RATCLIFF WALKWAY MANANA TI BLVD GREENVILLE COIT This Home Depot is visible from, andNORTHWEST is readily HWY accessible from Interstate 635. 635 LUNA T T T I 635 is a 37-mile-long partial loop around Dallas, known locally as the “LBJ.” Together with Spur 408, a portion 635 of Loop 12 (Walton Walker Freeway), and a portion of Interstate 35E, 635 completes the beltway which 635 ONE WAY JOSEY encircles Dallas. 12 NORTHWEST HWY FOREST NORTHWEST HWY 12 12 MERIT ROSSER REEDER 12 T HARRY HINES DENTON FOREST CENTRAL PARK I-635 was originally designated by the Texas Department of Transportation in 1959 as a loop around the CROWN T 75 STOREY DENNIS MARSH eastern side of Dallas, connecting with I-35E to the northwest and southwest sides of the city. WELCH MIDWAY 35E PRESTON HILLCREST ROYAL ROYAL MONTFORT ROYAL WEBB CHAPEL A $2.7 billion project was started on May 16, 2011, to widen I-635 and dig subsequent high-occupancy toll EMERALD (HOT) lane tunnels beneath the primary roadway from I-35E to the High Five Interchange, a length of 17 miles. DALLAS DALLAS NORTH TOLLWAY TRAFFIC FLOW LEGEND WALNUT HILL WALNUT HILL WALNUT HILL Construction time was estimated in 2011 at five years and was completed and opened for traffic on September Express Toll Lanes T 10, 2015. MANANA Freeway Lanes NORTHWEST HWY The new freeway features tolled express lanes, known as TEXpress lanes, in between the main lanes or Frontage Road N underneath them. The completion of this major infrastructure upgrade directly benefits the subject property By-Pass in numerous ways, including improved traffic flow and better access on and off of I 635 at the adjacent access Toll Gantry 12 NORTHWEST HWY 12 12 NORTHWEST HWY ramps. Well in excess of 300,000 vehicles travel this roadway daily. Intersection 12 STOREY Note: Map not to scale. Final roadway schematics may vary slightly. HOME DEPOT | 5 Updated September 2011. Based on anticipated roadway confi guration upon completion of the project in late 2015. Final roadway may vary slightly. TRAFFIC FLOW LEGEND Express Toll Lanes Freeway Lanes Frontage Road N By-Pass Toll Gantry Intersection Note: Map not to scale. Final roadway schematics may vary slightly. Updated September 2011. Based on anticipated roadway confi guration upon completion of the project in late 2015. Final roadway may vary slightly. aerial LOCATED IN DENSE, IN-FILL DALLAS MARKET WITH OVER 250,000 RESIDENTS WITHIN A 5-MILE RADIUS 635 35E ® Forest Lane 277,840 DAILY 16,870 DAILY PARK FOREST Dennis Road Herbert Marcus Elementary 13,590 DAILY Everett l . DeGolyer Elementary EXIT 440A FOREST LANE Webb Chapel Road Cromwell Drive Royal Lane 35E DALLAS FP Caillet 35E Elementary CITY CENTER HOME DEPOT | 6 locationDallasDallas, TX Economy Economy FORTUNE 500 FORTUNE 100 COMPANY COMPANIES COMPANIES HEADQUARTERS HEART OF THE “SILICON PRAIRIE” Dallas’s efficiency as a headquarters city is based on: 18 40 617 Transportation system with air operations to 145 US and 50 international cities Large metro and professional services CAREER OPPORTUNITIES workforce - 484,100 jobs Dallas job growth has exceeded the nation’s since 2003 and is forecasted Affordable cost of business to grow faster than the nation’s through 2020 Dallas’s unemployment rate has been below the national average for DALLAS-FORT WORTH INTERNATIONAL AIRPORT over 6 years Dallas is the 3rd most popular destination for business Dallas-Fort Worth’s job growth has been led by construction and travel in the US professional and business services DFW is the largest airport in Texas and the 2nd largest in the US 60,436,266 passengers went through DFW in 2013 COOLHOM RIVERE D CAFEEPOT | 67 income & expense PRICE $20,185,000 Price Per Square Foot: $123.42 Outstanding Principal Balance (as of 04/01/16)* $14,022,174 Capitalization Rate: 5.45% Interest Rate 4.25% Downpayment $6,162,826 Amortization 30 Existing Loan Balance (04/01/16) $14,022,174 Term 10 Total Rentable Area (SF): 163,545 Due Date 5/31/2024 Lot Size (AC): 14.85 Loan Assumption Fee - 1.5% (Buyer/Seller) $210,333 STABILIZED INCOME Per Square Foot Lender American Fidelity Scheduled Rent $6.73 $1,100,000 Net Operating Income $1,100,000 Effective Gross Income $6.73 $1,100,000 Debt Service ($855,975) LESS Per Square Foot Pre-Tax Cash Flow $244,025 Taxes NNN $0.00 Debt Coverage Ratio 1.29 Loan Assumption/Cash Flow Insurance NNN $0.00 Total Operating Expenses NNN $0.00 Pre-Tax Leveraged Cash-on-cash Return 4.0% NET OPERATING INCOME $1,100,000 Principal Paydown (Year 1 of Ownership) $255,045 Total Return $499,070 Yield 8.1% *Debt must be assumed and cannot be prepaid. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. HOME DEPOT | 8 rent roll TENANT INFO LEASE TERMS RENT SUMMARY Current Monthly Yearly Monthly Yearly Tenant Name Sq. Ft. Term Rent Rent Rent Rent/FT Rent/FT Home Depot 163,545 12/05/96 01/31/27 $1,100,000 $91,667 $1,100,000 $0.56 $6.73 02/01/27 01/31/37 $100,000 $1,200,000 $0.61 $7.34 Option 1 02/01/37 01/31/42 $100,833 $1,210,000 $0.62 $7.40 Option 2 02/01/42 01/31/47 $100,833 $1,210,000 $0.62 $7.40 Option 3 02/01/47 01/31/52 $110,917 $1,331,000 $0.68 $8.14 Option 4 02/01/52 01/31/57 $110,917 $1,331,000 $0.68 $8.14 Option 5 02/01/57 01/31/62 $122,008 $1,464,100 $0.75 $8.95 Option 6 02/01/62 01/31/67 $122,008 $1,464,100 $0.75 $8.95 Totals: 163,545 $1,100,000 $91,667 $1,100,000 $0.56 $6.73 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. HOME DEPOT | 9 site plan 16,870 DAILY Forest Lane SITE PLAN KEY NOT A PART* Parcel OUTLINE: LanD Area: 14.85 AC ane L BUILDING AREA: 163,545 SF INGRESS/EGRESS: rissom G *FORMER HOME DEPOT REGIONAL HEADQUarters.
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