Cochise Crossing Retail Center

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Cochise Crossing Retail Center COCHISE CROSSING RETAIL CENTER KIDDER.COM 4849 COCHISE ST | CARSON CITY, NV 89703 01 INVESTMENT SUMMARY The Offering TABLE OF Property Highlights 02 CONTENTS FINANCIAL SUMMARY 2020 Pro Forma 04 PROPERTY OVERVIEW Property Summary 03 Property Location Area Demographics TENANCY Tenant Mix Tenant Site Plan Building Elevations 05 MARKET OVERVIEW Northern Nevada Overview Carson City Overview EXCLUSIVELY LISTED BY MARK KEYZERS TROY KEENEY 775.8875 775.470.8874 [email protected] [email protected] LIC N° BS.0044999 LIC N° S.0183933 KIDDER.COM 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 Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews. 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. Kidder Mathews 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, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews 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. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies. 01 INVESTMENT SUMMARY THE OFFERING INVESTMENT HIGHLIGHTS 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 3 THE OFFERING 4849 Cochise St, Carson City, Address NV 89703 Price $6,000,000 INVESTMENT Cap Rate 4.9% Occupancy 100% SF 8,300 SUMMARY Land area 1.53 Acres Zoning GC New to Carson City, Cochise S Carson Street in Carson City, power centers and neighborhood Crossing Retail Commercial Center Nevada. This intersection not only centers with large retailers including services Minden and Gardnerville Costco, Walmart, Best Buy, Raley's, will be delivered Fall of 2020. Vault, Sports Clips and The Joint Chiropractic but is also the continuation of the Save Mart, Ross, Tuesday Morning, Cochise Crossing is strategically have 5 year leases. The Chik-Fil-A (NAP) has a beginning of highway 50 West Bed Bath & Beyond, Marshalls, placed in the best location in all 15 year ground lease, Chik-Fil-A reimburses which takes tourists and locals up to Kohls, Trader Joe's, Burlington Coat of Carson City. land lord for a proportionate share of common South Lake Tahoe. This retail center Factory, Big 5, Petco, Olive Garden, area liability insurance and a pre-negotiated is fully occupied by national Tenants In N' Out, Chili's, and many more. share of the common area maintenance of the Brand new retail tenants to Carson including Panera Bread, The Joint entrance off of Cochise. Chik-Fil-A is responsible City, offering includes Panera Bread Chiropractic, Sports Clips, Diamond The property features three for all maintenance of their parcel. All leases, Company, Sport Clips , The Joint Vault and shadow anchored by buildings totaling 13,276 square feet with the exception of Diamond Vault, have rent and Diamond Vault Jewelry Store. Chick-Fil-A (NAP). tenant mix that includes two quick Cochise Crossing Retail Commercial service restaurants, a barber shop, increases every five years. Diamond vault has 3% Center will be completed in the Kidder Mathews has been retained a jewelry store and a chiropractic increases every year. Each tenant has the option Fall of 2020. Being situated on to exclusively market the sale of office. All the retail leases are triple to renew with an increased base rent at the end the highly trafficked Highway 395 Cochise Crossing. Cochise Crossing net reimbursing the Landlord for of the term. The entire center has Carson Street (Carson Street) gives great exposure is located at the south end of Carson their proportionate share of taxes, frontage which provides great visibility of each to high volume daily traffic. Cochise City and is just 20 minutes down insurance, and common area tenant to 52,000 vehicles per day. The parking Crossing is ideally located proximate the hill from South Lake Tahoe. maintenance. Panera Bread has lot allows for easy ingress and egress as well as to the intersection of I-580 and on Cochise Crossing is proximate to a 10 year lease, and Diamond smooth traffic flow. 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 4 PROPERTY HIGHLIGHTS NNN LEASES WITH FULL PRIME LOCATION FULLY LEASED SF REIMBURSEMENTS Prime location with premium visibility and access Fully Leased The common area expenses, as stipulated in their to the newly completed interstate 580 and highway respective leases, are reimbursed by the tenants. Given 50 Interchange in Carson City, Nevada. that the ownership is only responsible for building structure repairs and maintenance, the offering provides consistent net yields for a potential investor. NATIONAL NEXT TO LARGE RETAILERS AREA ZONED CO- TENANTS Proximate to Power Centers and Neighborhood Zoned General Commercial (GC) National co-tenants include Chik-Fil-A, Panera Centers with large retailers including Costco, Walmart, Bread, Sports Clips, and The Joint Chiropractic. Best Buy, Raley's, Save Mar, Ross, Tuesday Morning, Bed Bath & Beyond, Marshalls, Kohls, Trader Joe's, Burlington Coat Factory, Big 5, Petco, Olive Garden, In-N-Out, Chili's, and many more SUBJECT DELIVERY OF CENTER FALL 2020 2020 PROPERTY New construction. Anticipated delivery of center Fall 2020. 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 5 02 FINANCIAL SUMMARY 2020 PRO FORMA 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 6 FINANCIAL SUMMARY 2020 PROFORMA SF Price/SF/YR Rent Increases Term Panera Bread 4,100 $37/SF/YR= $151,700 10% every 5 years 10 years (four 5 year options) Diamond Vault 1,735 $39 PSF/YR = $67,665 3% annually 5 years (two 5 year options) Sport Clips 1,200 $30.96 PSF/YR = $37,152 10% every 5 years 5 years (one 5 year options) The Joint 1,200 $33 PSF/YR = $39,600 10% every 5 years 5 years (two 5 year options) Gross Rent $296,117 Expenses $0.00 NOI $296,117 Cap Rate 4.9% Price $6,000,000 Notes: Net operating income for Panera bread and the line shop building is $296,117. All leases are true triple net leases. 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 7 03 TENANCY TENANT MIX TENANT SITE PLAN BUILDING ELEVATIONS 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 8 PANERA BREAD Panera Bread desire to bring to life fresh ideas about living while eating well is what has made them so successful. It began in a 400 square foot store in the 1980’s and now has over 2,000 locations. They offer a variety of soups, salads, pasta, sandwiches, and bakery items. Mana Group is the franchisee for Cochise Crossing. Paul Saber, president of Mana Group, has been in TENANT MIX the restaurant industry since 1980. Mana Currently operates over 160 units across the United States. DIAMOND VAULT SPORTS CLIPS THE JOINT CHIROPRACTIC The Diamond Vault carries a large selection of Sports Clips first location was opened by Gordon Founded in 1999 by a doctor of Chiropractic lovely custom-made jewelry, predominantly Logan in 1993 in Austin, Texas. It is a comfortable to transform the tradition often misunderstood diamonds and pearls, The Diamond Vault broker place for men and boys to get a haircut and say, concept of routine chiropractic. The Joint is items from the distributors and therefore they "this is my kind of place." Today, Sports Clips reinventing chiropractic care to be affordable sell items for a much smaller margin. Opened is the only national hair care franchise with a for patients seeking pain relief and ongoing in 2005, Brokers have 80+ years of experience location in all 50 states. wellness. and are ready to provide the best advice, experience, and options for all of your jewelry desires without any pressure. 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 9 SITE PLAN COCHISE ST SPORTCLIPS THE JOINT HAIRCUTS CHIROPRACTIC PANERA BREAD W ROLAND ST W CHICK-FIL-A NAP APPIONWAY HWY 395 (CARSON ST) 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 10 BUILDING ELEVATIONS PANERA BREAD 4,100 SF LINE SHOPS 1,800 SF AVAILABLE 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 11 04 PROPERTY OVERVIEW PROPERTY SUMMARY PROPERTY LOCATION AREA DEMOGRAPHICS 4849 COCHISE ST OFFERING MEMORANDUM KIDDER MATHEWS 12 PROPERTY COCHISE CROSSING RETAIL CENTER OVERVIEW 4849 Cochise
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