285862 Total SF | +/- 23.09 Acres
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3871 Stagg Dr, GATEWAY Click the Icon to View Beaumont, TX 77701 PLAZA Exclusive Video Presentation CONFIDENTIAL OFFERING MEMORANDUM 140,970 Vehicles Per Day Included 26,571 SF | 10 Units Included 13,332 SF | 2 Units Renovated 2017 | Not Included 285,862 Total SF | +/- 23.09 Acres www.dumesfalk.com BOR: Timothy Speck CONFIDENTIALITY & DISCLAMER THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 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. NET- LEASED DISCLAIMER The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property. TABLE OF CONTENTS INVESTMENT01 OVERVIEW PRICING & 02FINANCIAL ANALYSIS DEMOGRAPHICS03 & MARKET OVERVIEW INVESTMENT OVERVIEW01 Building 1 5 Building 1 6 Building 3 Building 2 (Adjacent to Building 1) Building Location 7 Building 3 (Behind Building 2) Building Location 8 Two Outpads (Included) +/- 0.92 Acres Each (Not Included) (Not Included) (Not Included) (Not Included) (Not Included) (Not Included) Outpad 2 Included | +/- 0.92 Outpad 1 Included | +/- 0.92 9 Christus Southeast Texas – St. Elizabeth The Event Centre Central Senior High School Subject Property Conn’s Warehouse Baptist Hospitals Of Southeast Texas King Middle School Conn’s Corporate Pathways Office Learning Center Ozen High School 56,349 Residents | 100,412 Employees $58,455 Average Household Income 10 Beaumont Country Club Christus Southeast Knife River Corporation Texas – St. Elizabeth Fire Museum of Texas Edison Museum Art Museum of Southeast Texas Beaumont Industrial Area Baptist Hospitals Harbor Island Beaumont Municipal of Southeast Texas Athletic Complex 1,620 employees ExxonMobil Refinery 2,400 acres | Employees: 2040 people Monsignor Kelly & 1000 contractors Catholic High School Subject Property Lamar University 14,103 enrollment Ozen High School 1,410 employees Spindletop Park Lamar University • Texas Home Health America LP Enrollment: 14,100 Ozen High School • Exxon Mobile Refinery Enrollment: 1,100 • Memorial Hermann Hospital Monsignor Kelly High School 107,010 Residents | 154,201 Employees • Baptist Hospitals of SE Texas Enrollment: 450 $60,091 Average Household Income • Beaumont Refinery 11 265 Miles 12 PRICING & FINANCIAL ANALYSIS02 GATEWAY PLAZA PRICING DETAIL & OPERATING DATA MAJOR TENANTS LEASE LEASE TENANT GLA EXPIRATION TYPE Stage 50,000 01/31/2025 NNN Conn Appliances 44,750 08/31/2021 NNN Vista College 38,750 05/30/2020 NNN Furniture Mart 20,373 12/31/2020 Gross MAJOR EMPLOYERS EMPLOYER # OF EMPLOYEES Texas Home Health America 5,540 Exxon Mobile Refinery 3,040 SITE DESCRIPTION Memorial Hermann Baptist Hospital 1,759 Baptist Hospital of SE Texas 1,700 Gateway Plaza Beaumont Refinery 1,545 3871 Stagg Dr, Beaumont, TX 77701 Dawson Marine 1,000 Built | Renovated 1956 | 1995, 2004 Gross Leasable Area (GLA) 285,862 SF DEMOGRAPHICS 1-Mile 3-Miles 5-Miles Current Occupancy 95.47% 2017 Estimate Population 4,768 56,349 107,010 Lot Size +/- 23.09 Acres 2017 Estimate Households 1,753 22,084 41,534 Ownership Fee Simple Daytime Population 14,517 100,412 154,201 Average Household Income $47,745 $58,455 $60,091 14 GATEWAY PLAZA RENT ROLL AND TENANT LEASE SUMMARY Lease Dates Annual Square % of Monthly Annual Changes Changes Lease Renewal Bldg.* Tenant Name Rent Feet GLA Comm. Exp. Rent Rent On To Type Options Per SF Conn Appliances 44,750 15.65% 04/01/2001 08/31/2021 $5.50 $20,510 $246,125 09/01/2021 $268,500 NNN Three, Five-Year Jason's Deli 4,800 1.68% 09/01/1990 08/30/2022 $11.50 $4,600 $55,200 09/01/2019 $57,600 NNN One, Five-Year Paris Nail Spa 2,140 0.75% 07/01/2008 08/30/2023 $15.34 $2,736 $32,832 None None Gross None Mira’s Boutique 3,665 1.28% 12/01/2017 11/30/2019 $12.96 $3,958 $47,491 None None Gross None Naomi's Fashions 3,000 1.05% 08/01/2011 07/31/2021 $10.00 $2,500 $30,000 None None Gross None Diamond Fashions 2,486 0.87% 01/01/2019 12/31/2019 $9.65 $2,000 $24,000 None None Gross None Supreme Beauty 11,388 3.98% 07/01/2000 06/30/2023 $9.48 $9,000 $108,000 07/01/2023 $113,400 Gross One, Five-Year Dollar Tree 11,325 3.96% 06/01/2004 06/30/2024 $8.75 $8,258 $99,094 07/01/2019 $104,756 NNN None 1 Texas State Optical 2,300 0.80% 05/01/1992 06/30/2019 $12.50 $2,396 $28,750 07/01/2019 $29,900 NNN One, Two-Year Rent A Center 4,800 1.68% 08/01/1996 08/31/2019 $14.52 $5,808 $69,696 None None NNN None Stage 50,000 17.49% 07/01/1971 01/31/2025 $6.50 $27,083 $325,000 02/01/2025 $375,000 NNN One, Five-Year Furniture Mart 20,373 7.13% 01/01/2018 12/31/2020 $7.36 $12,500 $150,000 01/01/2021 $165,000 Gross Two, Five-Year Catherine's 4,950 1.73% 06/01/1973 01/31/2022 $10.50 $4,331 $51,975 None None NNN None Education Futures 38,750 13.56% 01/01/2010 05/30/2020 $7.21 $23,282 $279,387 06/01/2020 $321,292 NNN One, Five-Year Z C Chinese Restaurant 15,000 5.25% 04/01/2015 04/30/2020 $9.60 $12,000 $144,000 05/01/2020 $158,400 Gross Three, Five-Year Jerry Nelson's Restaurant (Dark) 18,686 6.54% 04/01/1998 04/30/2020 $9.63 $15,000 $180,000 05/01/2020 Base+CPI Gross Three, Five-Year Church of God 2,118 0.74% 10/01/2012 MTM $9.95 $1,756 $21,073 None None Gross None Swing Out Civic Club 4,950 1.73% 12/01/2007 MTM $6.56 $2,705 $32,456 None None NNN None Damel Braiding 1,200 0.42% 02/01/2012 MTM $13.00 $1,300 $15,600 None None NNN None Beaumont Finance 960 0.34% 06/01/2006 06/30/2020 $15.12 $1,209 $14,512 None None NNN None 2 Quality/Maxie Nails 1,954 0.68% 04/01/2004 06/30/2020 $13.44 $2,188 $26,262 None None Gross None Artistic Pleasure Tattoo 1,406 0.49% 03/01/2017