OFFERING MEMORANDUM BOONVILLE SHOPPING CENTER

802 W. MAIN ST | BOONVILLE, IN 47601

™ LISTED BY

CHUCK EVANS SENIOR ASSOCIATE DIRECT (310) 919-5841 MOBILE (925) 323-2263 [email protected] LIC # 01963473 (CA)

BROKER OF RECORD KYLE MATTHEWS LIC # RC51700140 (IN) BOONVILLE SHOPPING CENTER

OFFERING MEMORANDUM BOONVILLE SHOPPING CENTER

802 W. MAIN ST | BOONVILLE, IN 47601

04 | EXECUTIVE OVERVIEW 06 | PROPERTY OVERVIEW 10 | FINANCIAL OVERVIEW 14 | AREA OVERVIEW

3 SECTION I EXECUTIVE OVERVIEW

4 BOONVILLE SHOPPING CENTER

INVESTMENT HIGHLIGHTS

SALE PRICE: »» Recently Extended Lease – Autozone just executed a lease $760,197.83 renewal until 2031 demonstrating a strong commitment to the site

»» Longevity of tenants – Most of the tenants in the shopping center have been there for the past 15 years

»» High Returns – True capitalization on an above market yield CAP RATE: 12.00% »» Ideal placement – located on the main road from the city to the Walmart Supercenter which is the main shopping hub for the town

»» 19,000+ Vehicles per day

»» Capital Improvements: NOI: • Resurfaced and re-striped parking lot • The parking lot was cleaned, milled, and 350 tons of new asphalt $93,090.82 were laid on the parking lot. • 30% of roof was resurfaced with elastomeric coating • All parking lot and canopy lights replaced with LED lights and Four LED solar powered lights were installed as well. • In total, $86,000 were invested to improve the center in preparation for a sale.

5 SECTION II PROPERTY OVERVIEW

6 BOONVILLE SHOPPING CENTER

PARCEL MAP

PHYSICAL DESCRIPTION

PROPERTY NAME Boonville Shopping Center

ADDRESS 802 W. Main St

LOCATION Boonville, IN 47601

PARCEL SITE PLAN 87-09-27-400-028.000-003

87-09-27-400-032.000-003 SITE MAP CHARLIE HARPER LANDSCAPING 87-09-34-200-030.000-003

4,000 SQFT

TOTAL LAND AREA 12,000 SQFT ±1.22 AC 9,000 SQFT

WRESTLING 7,000 SQFT 3,200 SQFT NET RENTABLE AREA ±41,000 SF

TENANT SQFT TENANT SQFT

1 AUTOZONE 9,000 SQFT 4 B-HIVE PRINTING 4,000 SQFT 2 AIGNER HAR7DWARE 12,000 SQFT 5 BOBBY WILSON FURNITURE 7,000 SQFT 3 BOBBY WILSON WRESTLING 3,200 SQFT

BEN HAMD Direct: 202.525.8991 Office: 540.525.8991 Email: [email protected] www.brookwoodcapitaladv.com BOONVILLE, IN

SURROUNDING AREA

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BEFORE

The parking lot at 802 W Main Street was milled down, cleaned, and had over 400 tons of new asphalt laid. The lines were then re-striped.

This re-surfaced parking lot's life span is twenty to twenty five years.

AFTER

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SECTION III FINANCIAL OVERVIEW

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RENT ROLL

Monthly Description Sq. Ftg. Tenant Commencement Expiration Notes: Rent i) Autozone has Four (4) Five (5) year options after their recent 10 year extension Unit 1 9,000 Auto Zone $2,440.16 3/31/90 3/31/31 ii) Rare rental increases in the lease. See broker for details iii) Landlord get’s reimbursed for taxes and insurance

Unit 2 12,000 Aigner Hardware $3,158.00 6/1/90 6/1/20

Bobby Wilson Unit 3 3,200 $500.00 10/1/18 10/31/19 Wresting

B-Hive Printing/ Unit 4 4,000 $1,000.00 8/1/87 8/1/20 Shipping

Bobby Wilson Pays 10% of sales no less than $500 a month and no more than $3,000 a month. Unit 5 7,000 $2,000.00 1/1/19 1/31/22 Furniture See broker for details on projected sales

Unit 6 600 Ice House $100.00 - 10/1/22

Charlie Wilson Unit 7 900 $100 .00 6/1/18 10/31/2021 Landscaping

TOTALS 36,700 $9,198.16

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AUTOZONE For more than 30 years, AutoZone has been committed to providing the best parts, prices and customer service in the automotive aftermarket industry. To stay out of the no-driving zone, DIY car repairers with auto problems often enter the AutoZone. With more than 5,190 stores in the US and Puerto Rico, AutoZone is the nation’s #1 auto parts chain. The company also operates 24 Interamerican Motor Corporation (parts distribution) branches in the US. AutoZone stores sell hard parts (alternators, engines, batteries), maintenance items (oil, antifreeze), accessories (car stereos, floor mats), and non-automotive merchandise under brand names, as well as under private labels. AutoZone’s commercial sales program distributes parts and other products to garages, dealerships and other businesses.

AIGNER HARDWARE Aigner hardware has been in business for over thirty years. Aigner Hardware is the pre-eminent and only hardware store in Boonville, IN. The Aigner family also owns Jerry Aigner Construction, several multifamily developments as well as the Aigner Industrial park in Boonville.

BOBBY WILSON FURNITURE AND WRESTLING Bobby Wilson Furniture is a regional discount furniture chain with two other locations in Owensboro and Madisonville KY. The company has been in 90 DAYS business for thirty years, and provides savings on all home furnishings! SAME AS CASH!!

B-HIVE PRINTING B-Hive Printing has been in business since 1981. They are a UPS affiliate, and do printing, shipping, copying, yard signs, as well as graphic design and signage work.

ICE HOUSE Ice House is a regional chain with eight ice houses throughout the region.

CHARLIE HARPER LANDSCAPING Charlie Harper Landscaping is a landscaping company in Boonville, IN focused on residential and commercial customers.

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ANNUALIZED

Annual REVENUES Rental Income $110,377.92 Tax Reimbursement $2,936.04 AutoZone Reimburses for 21.5% of Tax and Insurance Insurance Reimbursement $1,698.50

Total Revenues $115,012.46

Gross Profit $115,012.46

EXPENSES Insurance Expense $7,900.00 REAL ESTATE TAXES $13,656.00 Parking Lot Lights $1,332.72 Landscaping & Snow Removal $900.00

Total Expenses $23,788.72

NET INCOME $91,223.74 $760,197.83

13 SECTION IV AREA OVERVIEW

14 Boonville Shopping Center BOONVILLE, Boonville, Indiana is the county seat of Warrick County. The county has benefited from low unemployment and strong economic growth with a projected 6% increase in population over the next five years. The region has a strong job forecast with a strengths in both agricultural and manufacturing jobs. Toyota, Berry Plastics, and MIdwest Fertilizer Corporation have invested heavily with over $4.6 billion dollars in investment and 7,600 jobs to the regional economy.

Boonville and Warrick County specifically is one of the healthiest counties in with an average household income of $70,000 annually with unemployment rates of 2.5% DEMOGRAPHICS

BOONVILLE HOMES - BOONVILLE (WARRICK COUNTY) Population 1-Mile 3-Mile 5-Mile

The new construction of 22 one and 2023 Projection 3,512 9,313 16,399 two-bedroom apartments, nine lease 2018 Estimate 3,233 8,725 15,452 purchase townhomes (2br & 3br), and 13 lease purchase single family homes (4br) 2010 Census 3,266 8,674 15,147 to create workforce housing in Boonville by MV Affordable Housing. Awarded Growth 2018-2023 8.62% 6.74% 6.13% $1,060,000 in RHTCs and $500,000 from the Development Fund. Households 1-Mile 3-Mile 5-Mile 2023 Projection 1,475 3,867 6,662

2018 Estimate 1,340 3,575 6,195

2010 Census 1,305 3,434 5,876

Growth 2018-2023 10.08% 8.15% 7.54%

Income 1-Mile 3-Mile 5-Mile 2018 Average $62,729 $71,380 $75,289 Household Income

15 BOONVILLE, IN

EVANSVILLE, INDIANA Evansville is a city and the county seat of Vanderburgh County, Indiana and is the state’s third-most populous city after and Fort Wayne, the largest city in Southern Indiana, and the 232nd-most populous city in the . It is the commercial, medical, and cultural hub of Southwestern Indiana and the -Indiana- tri-state area, home to BOSSE over 911,000 people. The 38th parallel crosses the north side of the city and is marked on Interstate 69. FIELD Four NYSE companies (Accuride, , OneMain Financial, and ) are headquartered in Evansville, along with the global operations center for NYSE company Mead Johnson. Three other companies traded on the NASDAQ (Escalade, , and ) are also headquartered in Evansville. The city is home to public and private enterprise in many areas, as Evansville serves as the region’s economic hub.

A tourist destination, Evansville is home to , the state’s first casino; Mesker Park Zoo and Botanic Garden, one of the state’s oldest and largest zoos; and sports tourism industry. The city has several educational institutions. The is a small private school on the city’s east side, while the University of Southern Indiana is a larger public institution just outside the city’s westside limits. Other local educational institutions include the nationally ranked Signature FORD School and the Evansville Vanderburgh Public Library. In 2008, Evansville was voted the best city in the country in which “to CENTER live, work, and play” by the readers of Kiplinger, and in 2009 as the 11th best.

VICTORY THEATRE

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CONFIDENTIALITY AGREEMENT & DISCLAIMER

This Offering Memorandum contains select information pertaining to the business and affairs ofBoonville Shopping Center located at 802 W. Main St, Boonville, IN (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive oßr contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1 . The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

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OFFERING MEMORANDUM BOONVILLE SHOPPING CENTER 802 W. MAIN ST | BOONVILLE, IN 47601

LISTED BY

CHUCK EVANS SENIOR ASSOCIATE DIRECT (310) 919-5841 MOBILE (925) 323-2263 [email protected] LIC # 01963473 (CA)

BROKER OF RECORD KYLE MATTHEWS LIC # RC51700140 (IN)

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