DOCSLIB.ORG

Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 PHILIP LEVY 972.755.5225 SENIOR MANAGING DIRECTOR [email protected] OFFERING MEMORANDUM TABLE OF CONTENTS Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 Confidentiality & Disclaimer Contents The information contained in the following Marketing Brochure is proprietary and strictly PROPERTY INFORMATION 3 confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap Executive Summary 4 and should not be made available to any other person or entity without the written consent of 5 Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified Property Description information to prospective purchasers, and to establish only a preliminary level of interest in the Complete Highlights 6 subject property. The information contained herein is not a substitute for a thorough due LOCATION INFORMATION 7 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 Regional Map 8 future projected financial performance of the property, the size and square footage of the Location Maps 9 property and improvements, the presence or absence of contaminating substances, PCB's or 10 asbestos, the compliance with State and Federal regulations, the physical condition of the Aerial Maps improvements thereon, or the financial condition or business prospects of any tenant, or any Aerial Maps 11 tenant’s plans or intentions to continue its occupancy of the subject property. The information Aerial Maps 12 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 FINANCIAL ANALYSIS 13 herein, nor has Marcus & Millichap conducted any investigation regarding these matters and Financial Summary 14 makes no warranty or representation whatsoever regarding the accuracy or completeness of the Income & Expenses 15 information provided. All potential buyers must take appropriate measures to verify all of the 16 information set forth herein. Tenant Profiles DEMOGRAPHICS 17 Non-Endorsement Notice Demographics Map & Report 18 Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or IABS 19 lessee identified in this marketing package. The presence of any corporation’s logo or name is not Back Page 20 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 2 Section 1 PROPERTY INFORMATION PROPERTY INFORMATION | EXECUTIVE SUMMARY Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 OFFERING SUMMARY PROPERTY OVERVIEW Sale Price: $5,920,000 Marcus & Millichap is pleased to offer the opportunity to acquire a 34,817-square foot Harley-Davidson dealership located in Texarkana, Texas. This is a new 10-year, absolute net lease to be executed upon closing and will have 10 percent rent escalations scheduled every five years. Cap Rate: 7.5% DEMOGRAPHICS NOI: $444,000 1 MILE 3 MILES 5 MILES Total Households 1,096 12,040 26,010 Lot Size: 3.27 Acres Total Population 2,836 30,772 67,810 Year Built: 2007 Average HH Income $51,390 $55,843 $53,941 Building Size: 34,817 Price / SF: $170.03 4 PROPERTY INFORMATION | PROPERTY DESCRIPTION Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 PROPERTY DESCRIPTION The subject property is a 34,817-square foot Harley-Davidson dealership located in Texarkana, Texas. This is a new 10-year, absolute net lease to be executed upon closing and will have 10 percent rent escalations scheduled every five y ears. T he l ease w ill h ave a personal guarantee that will burn off after lease year seven. Tenant will have two, five-year options for renewal. Constructed in 2007, the building is situated on 3.27 acres. LOCATION DESCRIPTION The subject property is located in a dense retail trade area at the intersection of Interstate 30 and Interstate 369 with visibility from both freeways. Traffic c ounts o n I -30 are approximately 43,000 vehicles per day and 26,800 vehicles per day on I-369. Numerous national and regional tenants are in the surrounding area, including Lowe’s Home Improvement, Walmart Supercenter, Academy Sports and Outdoors, Ashley HomeStore, Cato, Verizon Wireless, GameStop, Subway, Country Inn & Suites, Gander Mountain, The Home Depot, Best Buy, Cinemark, Old Navy, Lane Bryant, Bed Bath & Beyond, Shoe Carnival, TJ Maxx, On the Border, Buffalo Wild Wings, Ruby Tuesday, LifeWay Christian Store, Chico’s, Kohl’s, Target, Office Depot, PetSmart, Sam’s Club and others. Additionally, Central Mall is approximately one mile east of the property and is anchored by JCPenney, Dillard’s, Sears, and Chuck E. Cheese’s. Texarkana is a city in Bowie County, located in the Ark-La-Tex region. It is a twin city with neighboring Texarkana, Arkansas. Texarkana is a regional center for employment, health care, and education. The retail and services trade area encompasses a 17-county area in parts of three states with a workforce drawn from a 60-mile radius. 5 PROPERTY INFORMATION | COMPLETE HIGHLIGHTS Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 BUILDING INFORMATION Gross Leasable Area (SF( 34,817 Occupancy % 100.0% Tenancy Single Year Built 2007 Free Standing Yes PROPERTY HIGHLIGHTS • Absolute Net Lease | No Landlord Responsibilities • New 10-Year Lease to be Executed at Closing with Two, Five-Year Options for Renewal • 10% Rent Escalations Scheduled Every Five Years • Personal Guarantee from the Tenant | Burns off after Lease Year Seven • Lease can be Transferred to any New Franchisee that is Approved by Harley-Davidson • Freeway Location on Interstate 30 at the Intersection with Interstate 369 • Traffic Counts are Approximately 43,000-VPD on I-30 and 26,800-VPD on I-369 • Dense Retail Trade Area | Neighbored by Lowe's, Walmart, Academy Sports and Outdoors, The Home Depot, Gander Mountain, Target, Kohl's, Best Buy and More • Central Mall is Approximately One Mile East | Anchored by JCPenney, Dillard's, Sears and Chuck E. Cheese's • The Texarkana Trade Area Encompasses 17 Counties in Parts of Three States 6 Section 2 LOCATION INFORMATION LOCATION INFORMATION | REGIONAL MAP Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 Texarkana Harley-Davidson 8 LOCATION INFORMATION | LOCATION MAPS Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 9 LOCATION INFORMATION | AERIAL MAPS Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 10 LOCATION INFORMATION | AERIAL MAPS Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 11 LOCATION INFORMATION | AERIAL MAPS Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 12 Section 3 FINANCIAL ANALYSIS FINANCIAL ANALYSIS | FINANCIAL SUMMARY Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 INVESTMENT OVERVIEW Price $5,920,000 Price per SF $170.03 Cash-on-Cash Return (yr 1) 7.5 % Total Return (yr 1) $444,000 OPERATING DATA Gross Income $444,000 Operating Expenses - Net Operating Income $444,000 FINANCING DATA Down Payment $5,920,000 Loan Type All Cash 14 FINANCIAL ANALYSIS | INCOME & EXPENSES Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 INCOME SUMMARY PER SF Lease Years 1-5 $444,000 $12.75 Lease Years 6-10 $488,400 $14.03 Option 1: Lease Years 11-15 $537,240 $15.43 Option 2: Lease Years 16-20 $590,964 $16.97 Net Operating Income $444,000 $12.75 15 FINANCIAL ANALYSIS | TENANT PROFILES Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 OVERVIEW TENANT SUMMARY Tenant: Franchisee Harley-Davidson is an American motorcycle manufacturer, founded in 1903 in Milwaukee, Lease Guarantor: Personal Guarantee Wisconsin. As one of two major American motorcycle manufacturers to survive the Great Lease Type: Absolute Net Depression, the company has become the world's fifth largest motorcycle manufacturer and an iconic brand widely known for its loyal following. Noted for a style of customization that Lease Term: 10 Years gave rise to the chopper motorcycle style, Harley-Davidson traditionally marketed Lease Commencement Date: At Closing heavyweight, air-cooled cruiser motorcycles with engine displacements greater than 700 cc. Rent Increases: 10% Every 5 Years Options For Renewal: (2) 5-Year Options The company offers an expanding range of leading-edge, distinctive motorcycles and brings Options To Purchase/First Right Of Refusal: None the brand to life through Harley-Davidson riding experiences and exceptional motorcycle Website: www.texarkanaharley.com parts, accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get Harley-Davidson riders on the road. HIGHLIGHTS • Lease can be Transferred to any New Franchisee that is Approved by Harley-Davidson • Personal Guarantee Expires at the End of the Seventh Lease Year 16 Section 4 DEMOGRAPHICS DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT Texarkana Harley-Davidson 802 Walton Drive, Texarkana, TX 75501 POPULATION 1 MILE 3 MILES 5 MILES Total population 2,836 30,772 67,810 Median age 32.5 34.6 35.3 Median
Load more

Recommended publications
  • Texarkana Urban Transportation Study
    Texarkana Urban Transportation Study 2015 – 2040 Metropolitan Transportation Plan Covering the cities of Texarkana Arkansas, Texarkana, Texas, Nash, Texas, Wake Village, Texas, and some of the unincorporated parts of Bowie County, Texas and Miller County, Arkansas and the states of Texas and Arkansas. Adopted September 17, 2014 Including revisions for August 29, September 8, and September 17, 2014. This plan is produced in cooperation with the following agencies: United States Department of Transportation (USDOT) Federal Highway Administration (FHWA) Federal Transit Administration (FTA) Texas Department of Transportation (TxDOT) Arkansas Highway and Transportation Department (AHTD) This Plan has been funded with federal Metropolitan Planning funds through the Federal Highway Administration and Section 5303 funds through the Federal Transit Administration, and local funding by the State of Arkansas, the State of Texas, and the City of Texarkana, Arkansas. TEXARKANA METROPOLITAN PLANNING ORGANIZATION NOTICE OF NONDISCRIMINATION The Texarkana Metropolitan Planning Organization (MPO) makes every effort to comply with the Americans With Disabilities Act of 1990, Section 504 of the Rehabilitation Act of 1973, Title VI of the Civil Rights Act of 1964 and other federal equal opportunity laws and therefore does not discriminate on the basis of race, sex, color, age, national origin, religion or disability, in admission or access to and treatment in MPO programs and activities, as well as the MPO’s hiring or employment practices. Complaints of alleged discrimination and inquiries regarding the MPO’s nondiscrimination policies may be directed to the MPO Director – EEO/DBE (ADA/504/Title VI Coordinator), P.O. Box 1967, Texarkana, TX 75504, (903) 798-3927, or the following email address [email protected]: This report is prepared and published by the Texarkana Metropolitan Planning Organization.
    [Show full text]
  • North East Texas Regional Mobility Authority Board Members FROM
    MEETING NOTICE TO: North East Texas Regional Mobility Authority Board Members FROM: Linda Thomas, Chair DATE: Tuesday, May 8, 2018 SUBJECT: May Board Meeting The next meeting of the NET RMA is scheduled as follows: DATE: Tuesday, May 8, 2018 TIME: 1:30 PM PLACE: Henderson Civic Center 1005 State Highway 64 W Henderson, TX 75652 Rusk County Enclosed please find the agenda and other pertinent information for your review prior to the meeting. Should you have any questions, please call Bianca Blattman at 903.630.7894. NORTH EAST TEXAS REGIONAL MOBILITY AUTHORITY (NET RMA) BOARD OF DIRECTORS REGULAR MEETING Tuesday, May 8, 2018, 1:30 PM Henderson Civic Center 1005 State Highway 64 W Henderson, TX 75652 Rusk County 1. CALL TO ORDER AND DECLARATION OF QUORUM Notice of this meeting was posted with the Secretary of State’s Office and on the NET RMA website and office on Friday, May 4, 2018. 2. INVOCATION 3. WELCOME & INTRODUCTION OF BOARD MEMBERS 4. REMARKS BY RUSK COUNTY JUDGE JOEL HALE 5. OPEN PUBLIC FORUM/COMMENT PERIOD 6. DISCUSSION, CONSIDERATION AND APPROVAL OF THE MINUTES FOR THE APRIL 10, 2018 BOARD MEETING Action Item 7. CHAIR’S REPORT Linda Thomas 8. COMMITTEE REPORTS A. Executive Committee/Audit Committee Linda Thomas B. Personnel Committee Jason Ray C. Project Development & Implementation Committee Barham Fulmer D. Long-Range Planning Committee John Cloutier E. East Texas Hourglass Committee Dave Spurrier F. Investment Committee Robert Messer G. Facilities Committee Gary Halbrooks H. Marketing/Community Relations Committee Andrea Williams-McCoy 9. PARTNERSHIP UPDATES A. East Texas Corridor Council Bob Moore B.
    [Show full text]
  • Walmart NHM (Summerhill)-OM.Indd
    Walmart Neighborhood Market Ground Lease OFFERING MEMORANDUM 3302 Summerhill Road, Texarkana, Texas Net Lease Investment Services In association with: Christopher Sheldon Andrew Bogardus Ed Colson Jr., CCIM +1 415 677 0441 +1 415 677 0421 +1 858 546 5423 [email protected] [email protected] [email protected] Lic #01806345 Lic #00913825 TX Lic #635820 Net Lease Investment Services Disclaimer The information contained in this marketing brochure (“Materials”) is proprietary The information contained in the Materials has been obtained by Agent from and confi dential. It is intended to be reviewed only by the person or entity receiving sources believed to be reliable; however, no representation or warranty is made the Materials from DTZ (“Agent”). The Materials are intended to be used for regarding the accuracy or completeness of the Materials. Agent makes no the sole purpose of preliminary evaluation of the subject property/properties representation or warranty regarding the Property, including but not limited to (“Property”) for potential purchase. income, expenses, or fi nancial performance (past, present, or future); size, square footage, condition, or quality of the land and improvements; presence or absence The Materials have been prepared to provide unverifi ed summary fi nancial, of contaminating substances (PCB’s, asbestos, mold, etc.); compliance with laws property, and market information to a prospective purchaser to enable it to and regulations (local, state, and federal); or, fi nancial condition or business establish a preliminary level of interest in potential purchase of the Property. The prospects of any tenant (tenants’ intentions regarding continued occupancy, Materials are not to be considered fact.
    [Show full text]
  • Texarkana Urban Transportation Study
    Chapter 3 - The Transportation System of the Texarkana Region MAP-21 requires the identification of the regional transportation facilities as a necessary component of the MTP, (including major roadways, transit, multimodal and inter-modal facilities, non-motorized transportation facilities, and inter-modal connectors if possible) that should function as an integrated metropolitan transportation system, giving emphasis to those facilities that serve important national and regional transportation functions. Roadways Major highway corridors include I-30, I-369, I-49, US 59, US 67, US 71, and US 82. Interstate - 49: Except for a section from Texarkana to Fort Smith and a short portion in the vicinity of Bella Vista, Arkansas, I-49 connects Fort Smith to Kansas City, a major international intermodal center and to the south of Texarxkana, I-49 connects to Lafayette, Louisiana and I-10. Future Interstate 49: From Shreveport to Kansas City this route is part of High Priority Corridors 1 and 72: North-South Corridor, while the future section between New Orleans and Lafayette is part of High Priority Corridor 37: U.S. 90. US 59: The 2035 State LRTP identified US 59 from the Houston MPO boundary to Texarkana MPO boundary as the highest rated Texas Trunk corridor (Other Trunk Highways) in need of improvement. The I-69 Corridor: This program being studied in Texas extends from Texarkana, Texas, and Stonewall, Louisiana, to Laredo and the Lower Rio Grande Valley of Texas. With Houston near the midpoint, I- 69 will improve regional mobility and provide new freight movement capacity accessing seaports at Houston, Freeport, Victoria, Point Comfort, Corpus Christi and Brownsville.
    [Show full text]
  • 2018 Annual Report Member Counties Table of Contents
    2018 ANNUAL REPORT MEMBER COUNTIES TABLE OF CONTENTS The Counties of the 2 BOARD CHAIR REMARKS North East Texas Regional Mobility 3 BOARD OF DIRECTORS Authority: 3 MISSION BOWIE COUNTY 5 MEMBER COUNTY MAP CHEROKEE COUNTY 6 NET RMA HOURGLASS MAP GREGG COUNTY 7 TOLL 49 SEGMENT 4 HARRISON COUNTY 11 SEGMENT 4 OPENING EVENT KAUFMAN COUNTY 12 TOLL 49 USAGE PANOLA COUNTY 13 TOLL 49 IMPROVEMENTS RUSK COUNTY 16 PRIORITY PROJECTS SMITH COUNTY 17 BOWIE COUNTY TITUS COUNTY 18 HARRISON COUNTY UPSHUR COUNTY 19 ECONOMIC DEVELOPMENT – SMITH COUNTY VAN ZANDT COUNTY 20 ECONOMIC DEVELOPMENT – WOOD COUNTY WOOD COUNTY 21 EXECUTIVE DIRECTOR REMARKS 22 FINANCIAL REPORT CHAIR REMARKS Linda Thomas Chair As 2018 is now behind us, it We continue to work with our The agency has added staff to is appropriate to look back and transportation partners, all our further maintain the road and realize how truly monumental member counties, and other completed enhancements to it really was. I am humbled and local and elected officials to the existing part of the road. honored to be serving with the move transportation forward in Our newsletter has continued best board of directors one could East Texas. To that end, for the to increase readership and the ever hope to work with. These third year in a row, the agency agency is working to extend are people who dream big and supported East Texas Counties Toll 49 on the east side, as are willing to plant seeds today with another $500,000 in grants well as examining how it can for shade that might not even be for transportation related projects.
    [Show full text]
  • Walmart Neighborhood Market Ground Lease OFFERING MEMORANDUM 3520 Richmond Road, Texarkana, Texas
    Walmart Neighborhood Market Ground Lease OFFERING MEMORANDUM 3520 Richmond Road, Texarkana, Texas Net Lease Investment Services In association with: Christopher Sheldon Andrew Bogardus Christina Campanella Ed Colson Jr., CCIM +1 415 677 0441 +1 415 677 0421 +1 415 677 0456 TX Lic #635820 [email protected] [email protected] [email protected] CA Lic #01806345 CA Lic #00913825 NY Lic #10401243503 Net Lease Investment Services Disclaimer The information contained in this marketing brochure (“Materials”) is proprietary The information contained in the Materials has been obtained by Agent from and confidential. It is intended to be reviewed only by the person or entity receiving sources believed to be reliable; however, no representation or warranty is made the Materials from DTZ (“Agent”). The Materials are intended to be used for regarding the accuracy or completeness of the Materials. Agent makes no the sole purpose of preliminary evaluation of the subject property/properties representation or warranty regarding the Property, including but not limited to (“Property”) for potential purchase. income, expenses, or financial performance (past, present, or future); size, square footage, condition, or quality of the land and improvements; presence or absence The Materials have been prepared to provide unverified summary financial, of contaminating substances (PCB’s, asbestos, mold, etc.); compliance with laws property, and market information to a prospective purchaser to enable it to and regulations (local, state, and federal); or, financial condition or business establish a preliminary level of interest in potential purchase of the Property. The prospects of any tenant (tenants’ intentions regarding continued occupancy, Materials are not to be considered fact.
    [Show full text]
  • Dec. 18, 2014 Transcript
    Page 1 1 2 3 4 5 TEXAS DEPARTMENT OF TRANSPORTATION 6 COMMISSION MEETING 7 8 9 Ric Williamson Hearing Room Dewitt Greer Building 10 125 East 11th Street Austin, Texas 11 Thursday 12 December 18, 2014 9:00 a.m. 13 14 COMMISSION MEMBERS: 15 Ted Houghton, Jr., Chair Jeff Moseley 16 Jeffrey Austin, III Fred Underwood 17 Victor Vandergriff 18 STAFF: 19 Lt. General Joe Weber, Executive Director 20 Robin Carter, Interim Chief Clerk Jeff Graham, General Counsel 21 22 23 24 25 Verbatim Reporting & Transcription LLC (281) 724-8600 Page 2 1 TABLE OF CONTENTS 2 Convene Meeting Page 04 3 Safety Briefing Page 04 4 Approval of Minutes Page 26 5 Acknowledgment of Service 3(a) Recognize by resolution Howard Holland Page 27 6 3(b) Recognize by resolution Edward Pensock, Jr. Page 37 3(c) Acknowledge Margo Richards Page 45 7 Discussion Items: 8 4(a) East Texas Corridor Studies: I-20 East Page 53 Texas and I-369 Harrison County/Marshall 9 4(b) 2015 Transportation Alternatives Program Page 78 Call for Projects 10 4(c) Proposition 1 Funds Status Update Page 102 11 Aviation Hidalgo County Page 108 12 Public Transportation 13 Bexar County Page 109 14 Advisory Committee Appointment Appoint members to the Bicycle Advisory Page 110 15 Committee 16 Promulgation of Administrative Rules 8(a)(1) Chapter 23 – Travel Information Page 111 17 8(a)(2) Chapter 25 – Traffic Operations Page 112 8(a)(3) Chapter 28 – Oversize and Overweight Page 113 18 Vehicles and Loads 8(b)(1) Chapter 09 - Contract and Grant Page 114 19 Management 8(b)(2) Chapter 16 – Planning and Development
    [Show full text]