Located on Interstate 14 / U.S. Highway 190, Central Texas's Main
Total Page:16
File Type:pdf, Size:1020Kb
OFFERING MEMORANDUM KILLEEN TEXAS Located on Interstate 14 / U.S. Highway 190, Central Texas’s main central highway REPRESENTATIVE PHOTO CONFIDENTIALITY AND DISCLAIMER The 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. NON-ENDORSEMENT NOTICE Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) 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 w, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Marcus & 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. 56 183 81 75 64 177 Miami 64 287 Beaver R. Salt Fork 65 64 60 285 64 Bartlesville Lake of Ponca City Table Rock L. the Cherokees Kaw L. 60 Oologah L. Toll 160 281 59 270 64 Cimarron R. 71 Missouri 283 177 Woodward Rio Grande 54 412 60 169 Pea Ridge NMP 385 64 Toll Abiquiu Res. 56 L. Hudson Rogers 183 Enid 64 Canadian R. Wolf Creek Beaver L. Claremore Ute Creek Corrizo Creek 87 77 Toll Toll 84 412 Keystone L. Springdale 412 60 Stillwater Buffalo NR 83 Canton L. 412 Illinois River 287 Tulsa 69 CANADIAN RIVER 270 Sapulpa Fayetteville 81 Fort Gibson L. Los Alamos 183 Toll Dumas Guthrie Cimarron R. Toll 54 62 Mora R. Washita River Bandelier NM 25 35 44 Lake Meredith NRA Oklahoma Tenkiller Ferry L. Arkansas Borger Muskogee L. Meredith Edmond Las Vegas Okmulgee Canadian R. Santa Fe Gallinas R. Alibates Flint Quarries NM El Reno 75 40 Bethany 177 87 62 Van Buren 64 Conchas L. Pampa L. Dardanelle 40 Oklahoma City Del City 40 Ute Res. 60 Shawnee Eufaula Res. Fort Smith 285 84 Fort Cobb Res. N. Fork Red R. NormanL. Thunderbird Russellville Petroglyph NM 40 44 270 Toll 283 Albuquerque Amarillo 281 62 71 287 40 L. Altus Chickasha Candadian R South Valley Canyon Nimrod L. 385 62 Toll McAlester 270 277 Pecos R. Salt Fork Hereford 183 Ada 69 59 84 81 85 77 75 Toll 270 62 Altus Fort Sill Kiamichi R. L. Sumner Lawton Hot Springs NP 60 Chickasaw NRA 60 60 Duncan Atoka L. Hot Springs 271 Clovis 287 Broken Bow L. 54 283 177 70 Toll 25 285 44 70 Plainview 70 35 Pine Creek L. Arkadelphia Vernon Ardmore Burkburnett 70 70 62 70 67 Durant 30 27 Wichita Falls RED RIVER Little River 380 New Mexico 69 62 71 Red R. 83 L. Kemp Millwood L. 377 70 84 L. Texoma 259 385 82 287 Paris 82 Pecos River L. Arrowhead Hope Levelland Gainesville Sherman 271 Lubbock Brazos River Roswell 380 Sulphur R. 62 281 81 TABLE OF CONTENTS87 183 Texarkana 70 82 277 Denton McKinney Magnolia 82 380 380 380 Greenville 30 Brownfield 259 79 L. Stamford Sulphur Springs 285A Lavon L. 59 Lewisville Plano L. Tawakoni Eagle Mountain L. Clear Fork 69 Brazos R. Richardson Garland InvestmentArtesia Summary .........................................5 Alamogordo 82 Irving 180 Dallas 71 White Sands NM Lamesa 180 Hubbard Creek L. 180 285 80 Investment Highlights.........................................Hobbs 6 Snyder 84 Fort Worth Grand Prairie Minden 70 283 Cross L. 80 L. J B Thomas Lancaster 25 62 20 20 Longview Sweetwater Burleson Abilene Shreveport Carlsbad Cleburne Aerial Map .........................................................Andrews 8 20 377 287 Ennis Kilgore Las Cruces Cedar175 Creek Res. Tyler 79 54 277 Stephenville 35W 45 Athens Big Spring 67 77 Henderson Carlsbad Caverns NP 81 69 10 385 Tenant Summary ..............................................10 TEXAS Corsicana 259 84 87 84 79 Red Bluff Reservoir North Fork 71 Guadalupe Midland 67 L. Whitney 287 Jacksonville 62 E V Spence Res. Mountains NP 183 Navarro Mills L. 84 Fort Bliss Odessa Angelina R. Louisiana49 El Paso Pecos River Site Plan ..........................................................12 Trinity R. 59 35 Natchitoches Palestine 80 84 Brownwood Nacogdoches 67Concho R. 283 Waco 69 Area Map .........................................................20 13 Colorado R. San Angelo 83 84 Pecos 377 77 171 Lufkin Twin Buttes Res. 87 79 281 Brozas R. 96 RIO GRANDE Location Overview ............................................15 190 285 287 10 Brady Creek Neches R. Killeen Temple Copperas Cove 190 Fort Polk South Belton 69 Location Highlights ...........................................17 183 190 87 De Ridder L. Buchanan 190 190 Demographics ..................................................18 L. Livingston 290 10 377 Huntsville Villa Ahumada 67 Llano R. 79 Bryan R. Neches Pecos R. 96 Sobine R. 90 285 190 77 45 Big Thicket Round Rock L. Conroe 59 385 Trinity River N PRES 277 Pedernales290 River Conroe Lake Charles Lyndon B. Johnson NHP 290 Brenham 10 Austin 87 10 90 35 Beaumont OrangeCalcasieu L. 281 Kerrville Champions L. Houston 90 Groves Aldine San Marcos Nederland Ricardo Flores Magon 67 377 385 Port Arthur RIO GRANDE Amistad NRA Frio River W. Nueces R. Baytown New Braunfels 10 90 Houston Rio Conchos Rosenberg Pasadena 77 Seguin 90A Amistad Res. 83 Friendswood Del Rio San Antonio 59 45 Texas City 87 183 Lackland AFB Big Bend NP Potrero Del Llano 90 81 Medina River Galveston Uvalde El Campo 277 Benavides WEST BAY 57 Freeport RIO GRANDE Eagle Pass Victoria 59 87 277 181 Port Lavaca Chihuahua San Antonio R. MATAGORDA Zaragoza 183 BAY Ciudad Cuauhtemoc 37 77 Morelos Nava Beeville Guerrero SAN ANTONIO Meoqui BAY Villa Union 35 L. Corpus Christi Delicias Nueva Rosita Aguhta Nueces R. Naica 83 Muzquiz Portland Sabinas Ciudad Camargo Mexico Alice 59 Corpus Christi Kingsville Progreso Laredo Jimenez Anahuac San Buenaventura Padre Island NS 281 Nadadores LAGUNA MADRE Villa Frontera Candela GULF Castanos 77 Falcon Res. Bustamante OF Villaldama 83 Sabinas Hidalgo El Alamo MEXICO Mission McAllen Harlingen 83 Zaragoza San Benito Reynosa 281 Palo Alto Battlefield NHS El Carmen Cienega De Flores Rio Bravo Brownsville General Zuazua General Bravo San Pedro Matamoros Monterrey Guadalupe China Gomez Palacio Cadereyta Matamoros Ciudad Lerdo Parras San Luis Del Cordero Viesca General Cepeda Saltillo General Teran Montemorelos Santiago Papasquiaro San Rafael ACTUAL SITE PHOTO INVESTMENT SUMMARY 2401 E CENTRAL TEXAS EXPRESSWAY, KILLEEN, TX 76543 PRICE: $3,136,363 CAP: 5.50% RENT: $172,500 OVERVIEW ANNUALIZED OPERATING DATA Price $3,136,363 Lease Term Annual Rent Gross Leasable Area (GLA) 5,581 SF 5/01/2020 $172,500** Lot Size (approx.) 1.52 Acres 4/30/2025 $189,750 Net Operating Income $172,500 Option 1 $208,725 CAP Rate 5.50% Option 2 $229,597 Year Built / Renovated 1999 LEASE ABSTRACT * Lease was originally 15-years (2004). Tenant extended lease for 10 years (leaving options intact) to commence May 2020. In exchange, rent was reduced to $172,500. Lease Type NNN Priced on May 2020 rents. Lease Term 10 Years ** 10% rent bumps every 5-years. Lease Start 5/1/2020 Lease Expiration Estimate 5/2020 Renewal Options 4X5 Rent bump 4/30/2025 - $189,750. Increases 10% rent bumps in options* Landlord Obligation None At All 5 INVESTMENT HIGHLIGHTS t Guaranteed by Inspire Brands which is a division of Roark Capital t True NNN Lease with no landlord obligations t 4 five-year options with rent bumps that hedge against inflation t Located on Main Retail Corridor with Numerous Surrounding National Retailers t Nearby national retailers: Walmart Supercenter, Outback Steakhouse, Chuck E. Cheese, The Home Depot, Olive Garden, and Applebee’s Grill + Bar 189,560 $63,030 TOTAL AVERAGE POPULATION HOUSEHOLD WITHIN 5-MILE INCOME WITHIN RADIUS 5-MILE RADIUS 83,000 VPD - US HWY 190 4,690 VPD - ILLINOIS AVE 6 INVESTMENT HIGHLIGHTS NNN True NNN Lease with Property located This passive investment opportunity is a true NNN lease and offers rent bumps no landlord obligations on Interstate 14 / U.S.