Offering Memorandum
LAKELAND OFFICE PRODUCTS 53 S Washington St • Oxford, MI 48371 1 NON- ENDORSEMENT AND DISCLAIMER NOTICE
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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
Non-Endorsement Notice 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.
LAKELAND OFFICE PRODUCTS Oxford, MI ACT ID Z0290159
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TABLE OF CONTENTS
INVESTMENT OVERVIEW 01 Offering Summary Regional Map Local Map Aerial Photo
FINANCIAL ANALYSIS 02 Tenant Summary Lease Expiration Chart Operating Statement
Pricing Detail
MARKET COMPARABLES 03 Sales Comparables Comparable Shopping Centers
MARKET OVERVIEW 04 Market Analysis Demographic Analysis
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INVESTMENT OVERVIEW
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PROPERTY OVERVIEW PROPERTY OVERVIEW Marcus & Millichap is pleased to present Lakeland Office Products in Oxford, Michigan. The property is approximately 5,000-square- feet and is fully occupied by various tenants. Located off of South Washington right in the heart of downtown Oxford, the location is a great investment opportunity, with excellent visibility and exposure.
The Village of Oxford is one square mile within the Township of Oxford and includes the Central Business District. M-24, which bisects Oxford, is an important north-south corridor providing direct access to I-69 linking Flint and Port Huron. It is also linked to I- 75 with its amazing connections throughout Metro Detroit and the state, placing Oxford at an excellent juncture. The Village of Oxford is located 9 miles north of The Palace of Auburn Hills.
For over 130 years Oxford has been developing character: the village maintains a small town look even with the addition of modern amenities. Topnotch schools and a new, state-of-the-art public library attests to the modern status of this area. The downtown offers an array of unique shops, restaurants, a 7-screen movie theater, and business services. In 2006 and 2007, Oxford became a Oakland County Main Street Community. Downtown Oxford is also host to many wonderful events that are sure to please. Festivals such as Stew Stroll in February, Celebrate Oxford in August, and the Scarecrow Festival in the fall help to define the quality of life in Oxford. PROPERTY OVERVIEW
. Excellent Exposure and Visibility on Washington Street
. Located in the Heart of Downtown Oxford
. Fully Leased to Multiple Tenants
. More than 36,000 Cars per Day on Washington Street
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PROPERTY OVERVIEW PROPERTY PHOTOS
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REGIONAL MAP
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LOCAL MAP
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AERIAL PHOTO
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FINANCIAL ANALYSIS
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FINANCIAL ANALYSIS TENANT SUMMARY
*Schedule Rent Income includes base rent and CAM reimbursements. Base Rent Increases: Base Rent for Brain Balance: $3,695 + CAM Base Rent for Juice Bar $1,300 + CAM
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FINANCIAL ANALYSIS OPERATING STATEMENT
*Schedule Rent Income includes base rent and CAM reimbursements. Base Rent Increases:
Brain Balance- 10/1/2018 $3,880 + CAM 10/1/2019 $4,065 + CAM Juice Bar- 12/1/2018 $1,340.00 + CAM 12/1/2019 $1,380 + CAM
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FINANCIAL ANALYSIS PRICING DETAIL
*Schedule Rent Income includes base rent and CAM reimbursements. Base Rent Increases:
Brain Balance- 10/1/2018 $3,880 + CAM 10/1/2019 $4,065 + CAM Juice Bar- 12/1/2018 $1,340 + CAM 12/1/2019 $1,380 + CAM
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TENANT PROFILE
Brain Balance Michigan Eye Institute
General Information General Information
Tenant Name Brain Balance Tenant Name Michigan Eye Institute
Website https://www.brainbalancecenters.com Website https://mieye.com/
Rentable Square Feet 2,351 SF Headquartered Flint, Michigan
Percentage of RBA 47.00% Rentable Square Feet 1,665 SF
Lease Commencement 8/1/2005 Percentage of RBA 33.00%
Lease Expiration 9/30/2020 Lease Commencement 5/26/2006
No. of Locations 130 Lease Expiration 9/30/2019
No. of Locations 5
27 Years in Business
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ACQUISITION FINANCING
MARCUS & MILLICHAP CAPITAL CORPORATION WHY MMCC?
CAPABILITIES Optimum financing solutions to enhance value MMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and Our ability to enhance terms. buyer pool by expanding finance options We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of Our ability to enhance financing options. seller control Through buyer Our dedicated, knowledgeable experts understand the challenges of financing • qualification support and work tirelessly to resolve all potential issues to the benefit of our clients. • Our ability to manage buyers finance expectations
• Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings
• By relying on a world class Closed 1,651 National platform $5.1 billion Access to set of debt/equity sources debt and equity operating total national more capital financings within the firm’s volume in 2016 sources than and presenting a tightly in 2016 brokerage any other firm underwritten credit file offices in the industry
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MARKET COMPARABLES
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SALES COMPARABLES MAP
LAKELAND OFFICE PRODUCTS (SUBJECT)
1 Grand Blanc Plaza
2 Marketplace Court The Auburn Mile Shopping 3 Center 4 12 S Main St
SALES COMPARABLES
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SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG
Average Price Per Square Foot
$400.00
$360.00
$320.00
$280.00 Avg. $255.52
$240.00
$200.00
$160.00
$120.00
$80.00
$40.00
$0.00 Lakeland Grand Blanc Marketplace The Auburn 12 S Main Confidential Office Plaza Court Mile St Medical Products Shopping Center
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SALESMARKETING COMPARABLES TEAM
SALES COMPARABLES
GRAND BLANC PLAZA MARKETPLACE COURT LAKELAND OFFICE PRODUCTS 12500 South Saginaw Street, Grand Blanc, MI, 48439 35724 Van Dyke Avenue, Sterling Heights, MI, 48312 53 S Washington St, Oxford, MI, 48371 1 2
rentpropertyname1 rentpropertyname1 rentpropertyname1
Tenants Lease Type Tenants Lease Type Tenants Lease Type Close Of Close Of Asking Price: $1,125,000 10/13/2017 8/24/2017 Escrow: Escrow: Price/SF: $225.23 Days On Days On 190 155 CAP Rate: 7.99% Market: Market: Sales Price: $975,000 Sales Price: $3,275,000 Year Built: 1999 Price/SF: $319.36 Price/SF: $155.83 CAP Rate: 8.80% CAP Rate: 9.50% Year Built: 1980 Year Built: 1994
rentpropertyaddress1Annual Per SF rentpropertyaddress1Annual Per SF rentpropertyaddress1Annual Per SF Income $111,338 $22.29 Expenses $33,730 $11.05 Expenses $119,443 $5.68 Expenses $21,397 $4.28 NOI $89,941 $18.01 Occupancy 100.0%
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SALESMARKETING COMPARABLES TEAM
SALES COMPARABLES
THE AUBURN MILE SHOPPING CENTER 12 S MAIN ST CONFIDENTIAL MEDICAL 750 Brown Rd, Auburn Hills, MI, 48326 12 S Main St, Clarkston, MI, 48346 Confidential Medical, Oxford, MI, 48371
3 4 5
rentpropertyname1 rentpropertyname1 rentpropertyname1
Tenants Lease Type Tenants Lease Type Tenants Lease Type Close Of Close Of Close Of 8/25/2017 10/16/2017 6/5/2018 Escrow: Escrow: Escrow: Sales Price: $1,000,000 Sales Price: $935,000 Sales Price: $5,700,000 Price/SF: $220.85 Price/SF: $283.51 Price/SF: $298.07 Year Built: 1995 Year Built: 1995 Year Built: 2006
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
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COMPARABLE8 SHOPPING CENTERS
LAKELAND OFFICE PRODUCTS (SUBJECT)
1 Auburn Plaza
2 2881 Crooks Rd
Shops At The Shores of Long 3 Lake
4 Belle Arbor
5 Independence Square
7
8
9
10
11
12
13
14
15
16
17
18
20
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COMPARABLE SHOPPING CENTERS AVERAGE OCCUPANCY
100 Avg. 93.84%
90
80
70
60
50
40
30
20
10
0 Lakeland Auburn 2881 Shops Belle Arbor Independence Office Plaza Crooks Rd At The Square Products Shores of Long Lake
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COMPARABLE SHOPPING CENTERS AVERAGE RENT PER SQUARE FOOT
$24
$22 Avg. $19 $19
$17
$14
$12
$10
$7
$5
$2
$0 Lakeland Auburn 2881 Shops Belle Arbor Independence Office Plaza Crooks Rd At The Square Products Shores of Long Lake
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COMPARABLE SHOPPINGMARKETING CENTERS TEAM
AUBURN PLAZA 2881 CROOKS RD LAKELAND OFFICE PRODUCTS 224 E Auburn Rd, Rochester Hills, MI, 48307 2881 Crooks Rd, Rochester Hills, MI, 48309 53 S Washington St, Oxford, MI, 48371 1 2
rentpropertyname1 rentpropertyname1 rentpropertyname1
Total GLA Available SF Asking Rent/SF Total GLA Available SF Asking Rent/SF Total GLA Available SF Asking Rent/SF 4,995 SF 0 SF $22.29 31,000 SF 5,500 SF $20.00 26,289 SF 1,200 SF $18.00
YEAR BUILT: 1999 OCCUPANCY: 82% | YEAR BUILT: 2001 OCCUPANCY: 95% | YEAR BUILT: 2005
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
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COMPARABLE SHOPPINGMARKETING CENTERS TEAM
SHOPS AT THE SHORES OF LONG LAKE BELLE ARBOR INDEPENDENCE SQUARE 500 N Lapeer Rd, Lake Orion, MI, 48362 1418 S Lapeer Rd, Lake Orion, MI, 48360 6365 Sashabaw Rd, Clarkston, MI, 48346
3 4 5
rentpropertyname1 rentpropertyname1 rentpropertyname1
Total GLA Available SF Asking Rent/SF Total GLA Available SF Asking Rent/SF Total GLA Available SF Asking Rent/SF 26,064 SF 1,509 SF $17.00 8,410 SF 0 SF $20.00 96,025 SF 2,600 SF $18.00
OCCUPANCY: 94% | YEAR BUILT: 1999 OCCUPANCY: 100% | YEAR BUILT: 2007 OCCUPANCY: 97% | YEAR BUILT: 1991
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
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MARKET OVERVIEW
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MARKET OVERVIEW DETROIT OVERVIEW
The Detroit metro is located in the southeastern portion of Michigan along the Detroit River, which connects Lake St. Clair and Lake Erie. Across the Detroit River lies the city of Windsor, Ontario, which provides access to the Canadian market. The metro is a nearly 4,000- square-mile region composed of six counties: Wayne, Macomb, Lapeer, Oakland, St. Clair and Livingston. More than 4.3 million residents reside in the area and after years of declining population, the metro is adding residents again as employers and development expand. Wayne is the most populated county, followed by Oakland County. Detroit is the largest city with nearly 700,000 residents.
METRO HIGHLIGHTS
EMPLOYMENT GROWTH Job creation will remain strong, building on the 178,300 jobs added in the past five years. The largest gains are expected in construction and office-using sectors.
AUTO DESIGN AND MANUFACTURING The metro is home to the Big Three as well as two- thirds of the world’s automotive research and development firms.
DIVERSIFYING ECONOMY Increased entrepreneurial activity has created a knowledge-based economy, diversifying beyond manufacturing and the auto industry.
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MARKET OVERVIEW
ECONOMY . Multiple Fortune 500 corporations are based in the metro, many of which are in the auto industry, such as General Motors Corp., Ford Motor Co. and FCA US LLC. Other companies include Autoliv, BorgWarner, DTE Energy, Ally Financial and Kelly Services. . A growing knowledge-based economy is supplementing the manufacturing and automotive industries. The New Economy Initiative for Southeast Michigan provides support and networking for entrepreneurial activity. . The economy is diversifying into the healthcare and technology sectors, attracting companies to the area. Tech companies work alongside the auto industry.
MAJOR AREA EMPLOYERS
General Motors Corp. Rock Ventures FCA US LLC DTE Energy Beaumont Health Henry Ford Health System St. John Providence Health System Ford Motor Co. Detroit Medical Center * Forecast Wayne State University
SHARE OF 2017 TOTAL EMPLOYMENT
12% 20% 9% 10% 6% MANUFACTURING PROFESSIONAL AND GOVERNMENT LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES BUSINESS SERVICES
18% 4% + 16% 1% 4% TRADE, TRANSPORTATION CONSTRUCTION EDUCATION AND INFORMATION OTHER SERVICES AND UTILITIES HEALTH SERVICES
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MARKET OVERVIEW
DEMOGRAPHICS
. The metro is expected to add nearly 50,600 people through 2022, resulting in the formation of roughly 37,600 households and generating demand for housing. SPORTS . Relatively affordable home prices produce a homeownership rate of 69 percent, which is above the national rate of 64 percent. . Almost 29 percent of residents age 25 and older are bachelor’s degree holders and 11 percent also have earned a graduate or professional degree.
2017 Population by Age
6% 19% 6% 25% 29% 15% 0-4 YEARS 5-19 YEARS 20-24 YEARS 25-44 YEARS 45-64 YEARS 65+ YEARS EDUCATION
2017 2017 2017 2017 MEDIAN POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME: 4.3M 1.7M 40.1 $57,000 Growth Growth U.S. Median: U.S. Median: 2017-2022*: 2017-2022*: 1.2% 2.2% 37.8 $56,300
QUALITY OF LIFE The Detroit region, birthplace of Motown and the mass-production automobile industry, offers all the benefits of living close to the Great Lakes but at a moderate cost. Revitalization has included sports facilities such as Comerica Park for the Tigers, Ford Field ARTS & ENTERTAINMENT for the Lions, and a new hockey arena for the Red Wings. Additionally, new entertainment and retail venues are reshaping downtown Detroit. For culture buffs, the region is home of the Detroit Institute of Arts, the Detroit Historical Museum and the Michigan Science Center. Meanwhile, several universities and colleges are located nearby, including the University of Michigan, Wayne State University, University of Detroit Mercy and Lewis College of Business.
* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
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MARKET OVERVIEW
DETROIT METRO AREA
Retailers, Investors Find Opportunities In Detroit’s Changing Retail Landscape
Repurposing of vacant malls transforming retail market. The retail landscape in the metro continues to evolve as old malls are torn down while redevelopment brings new life to underutilized land. The demolition of Northland Center in Southfield, which began last fall, will be completed this year, leaving only the former Macy’s store as redevelopment of the site progresses. Removal has also been ordered for Summit Place Mall in Waterford Township; a sports and entertainment complex has been proposed on the site. In Taylor, a Menard’s will rise on the former Gibraltar Trade Center location. The home-improvement retailer is one of many expanding this year, with another store opening in Belleville accounting for approximately half of the roughly 1 million square feet slated for delivery during 2018. New stores are also expected in District Detroit, a 50-block sports and entertainment area in downtown Detroit. A portion of the space consists of street level retail in residential buildings. With nearly three-fourths of this year’s new stock pre-leased, the impact on vacancy will be reduced, promoting another year of rent growth.
Favorable trends spotlight Detroit’s retail assets. The expected gain of roughly 12,000 households throughout the metro during 2018 will contribute to a 3.8 percent rise in retail sales, helping to lure investors. Some buyers are drawn to renovated properties in Downtown and Midtown where high-end retailers are opening. While single-tenant buildings remain the prime target of many investors, intense competition for available listings is motivating more buyers to consider multi-tenant centers. Properties with fewer than five tenants are especially desired by investors in the $4 million to $6 million tranche. Cap rates for these assets are holding steady in the low-6 to low-7 percent range for newer, well-located strip centers, while older centers generally change hands 100 to 300 basis points higher depending on quality and tenant roster.
* Forecast Sources: Marcus & Millichap Research Services; BLS; CoStar Group, Inc.
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MARKET OVERVIEW
DETROIT METRO AREA
2018 Market Forecast
NRI Rank Strong vacancy improvement nudges Detroit up two rungs to the 41st place 41, up 2 places in this year’s Index.
Employment Payrolls will expand by roughly 35,000 workers in 2018, up slightly from last up 1.7% year’s 1.5 percent gain. A large portion of the jobs are higher-paying and related to vehicle design and self-driving technology.
Construction Deliveries slightly outpace the five-year average with the completion of 1 1 million sq. ft. million square feet in 2018, a dip from last year’s 1.1 million square feet.
Vacancy Strong tenant demand and the removal of long-vacant malls will cut the down 60 bps vacancy rate to 6.2 percent in 2018. Last year, a 40-basis-point decline was registered.
Rent The average asking rent climbs for the third consecutive year to $14.10 per up 3.4% square foot, on par with the 2008 peak. Last year, a 5.2 percent gain was registered.
Investment The completion of mixed-use office and residential buildings in District Detroit should increase foot traffic and lure investors to retail properties nearby. * Forecast Sources: Marcus & Millichap Research Services; CoStar Group, Inc.; Real Capital Analytics
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MARKETINGDEMOGRAPHICS TEAM Created on April 2018
POPULATION 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles Total Average Household Retail . 2022 Projection $74,713 $79,514 $81,799 Expenditure Total Population 6,692 26,500 49,341 . Consumer Expenditure Top 10 . 2017 Estimate Categories Total Population 5,976 24,334 45,926 Housing $17,960 $19,033 $19,537 . 2010 Census Transportation $15,542 $17,124 $17,716 Total Population 5,797 23,466 44,241 Shelter $9,946 $10,489 $10,764 . 2000 Census Food $8,531 $9,228 $9,531 Total Population 5,365 19,590 37,843 Personal Insurance and Pensions $6,780 $7,532 $7,922 . Current Daytime Population Health Care $4,539 $4,884 $5,017 2017 Estimate 6,111 20,561 35,336 Utilities $4,198 $4,483 $4,601 HOUSEHOLDS 1 Miles 3 Miles 5 Miles Entertainment $3,801 $4,173 $4,347 . 2022 Projection Apparel $1,999 $2,132 $2,213 Household Furnishings and $1,820 $1,972 $2,037 Total Households 2,539 9,651 18,036 Equipment . 2017 Estimate POPULATION PROFILE 1 Miles 3 Miles 5 Miles Total Households 2,288 8,846 16,721 . Population By Age Average (Mean) Household Size 2.55 2.70 2.71 2017 Estimate Total Population 5,976 24,334 45,926 . 2010 Census Under 20 27.41% 28.15% 27.46% Total Households 2,199 8,473 16,004 20 to 34 Years 15.70% 15.32% 15.45% . 2000 Census 35 to 39 Years 7.23% 6.29% 5.92% Total Households 2,074 7,094 13,572 40 to 49 Years 16.97% 16.34% 16.11% . Occupied Units 50 to 64 Years 19.81% 21.37% 22.62% 2022 Projection 2,539 9,651 18,036 Age 65+ 12.86% 12.51% 12.43% 2017 Estimate 2,420 9,310 17,513 Median Age 39.78 40.15 40.85 HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles . Population 25+ by Education Level . 2017 Estimate 2017 Estimate Population Age 25+ 4,023 16,137 30,712 $150,000 or More 10.01% 15.60% 17.01% Elementary (0-8) 1.52% 1.14% 0.89% $100,000 - $149,000 20.84% 21.57% 22.48% Some High School (9-11) 4.97% 4.79% 4.56% $75,000 - $99,999 16.80% 18.03% 19.20% High School Graduate (12) 28.57% 25.68% 23.84% $50,000 - $74,999 17.85% 16.36% 15.70% Some College (13-15) 24.62% 24.00% 24.33% $35,000 - $49,999 11.88% 10.02% 9.04% Associate Degree Only 7.58% 8.91% 9.21% Under $35,000 22.63% 18.44% 16.57% Bachelors Degree Only 20.09% 21.85% 22.43% Average Household Income $87,002 $104,068 $108,242 Graduate Degree 12.45% 12.91% 14.06% Median Household Income $72,019 $82,068 $86,253 Per Capita Income $33,588 $38,025 $39,533
Source: © 2017 Experian
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MARKETINGDEMOGRAPHICS TEAM
Population Race and Ethnicity In 2017, the population in your selected geography is 5,976. The The current year racial makeup of your selected area is as follows: population has changed by 11.39% since 2000. It is estimated that 95.15% White, 1.45% Black, 0.03% Native American and 0.86% the population in your area will be 6,692.00 five years from now, Asian/Pacific Islander. Compare these to US averages which are: which represents a change of 11.98% from the current year. The 70.42% White, 12.85% Black, 0.19% Native American and 5.53% current population is 49.11% male and 50.89% female. The median Asian/Pacific Islander. People of Hispanic origin are counted age of the population in your area is 39.78, compare this to the US independently of race. average which is 37.83. The population density in your area is 1,898.12 people per square mile. People of Hispanic origin make up 4.12% of the current year population in your selected area. Compare this to the US average of 17.88%.
Households Housing There are currently 2,288 households in your selected geography. The The median housing value in your area was $184,437 in 2017, number of households has changed by 10.32% since 2000. It is compare this to the US average of $193,953. In 2000, there were estimated that the number of households in your area will be 2,539 1,542 owner occupied housing units in your area and there were 532 five years from now, which represents a change of 10.97% from the renter occupied housing units in your area. The median rent at the current year. The average household size in your area is 2.55 persons. time was $537.
Income Employment In 2017, the median household income for your selected geography is In 2017, there are 2,585 employees in your selected area, this is also $72,019, compare this to the US average which is currently $56,286. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 25.78% 65.92% of employees are employed in white-collar occupations in since 2000. It is estimated that the median household income in your this geography, and 36.11% are employed in blue-collar occupations. area will be $85,227 five years from now, which represents a change In 2017, unemployment in this area is 5.37%. In 2000, the average of 18.34% from the current year. time traveled to work was 32.00 minutes.
The current year per capita income in your area is $33,588, compare this to the US average, which is $30,982. The current year average household income in your area is $87,002, compare this to the US average which is $81,217.
Source: © 2017 Experian
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8 DEMOGRAPHICS
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