INVESTMENT TitleMax OFFERING 2 Farrs Bridge Road| Berea (Greenville), SC 29617
Todd Bunke | 404.964.9048 | [email protected] Confidentiality Agreement
This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all- inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and/or Atlanta Real Estate Group. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner nor Atlanta Real Estate Group make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.
The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or Atlanta Real Estate Group. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or Atlanta Real Estate Group. © 2016 Atlanta Real Estate Group
2 Table of Contents
Financial Overview...... 4-5
Tenant Overview...... 6
Investment Overview...... 7
Maps...... 8-10
Survey...... 11
Photos...... 12-23
Demographics...... 24 Financial Overview
PRICING SUMMARY Price $424,764 CAP Rate 8.25%
2 Farrs Bridge Rd, Berea (Greenville), SC ANNUALIZED OPERATING DATA
LEASE SUMMARY INCOME Tenant TitleMax Base Rent $35,043* Lease Type NNN Commencement Date January 30, 2015 NET OPERATING INCOME $35,043 Lease Term 30 Years *Tenant has option to cancel *Above rent amount is as of 1/1/2019. after year 10, 15, 20 & 25 Rent Increases 2% Annually Roof & Structure Tenant Responsible
4 20 Year Cash Flow
5 Tenant Overview
TitleMax, Inc. is a privately held title lending business based in Savannah, Georgia. The company has more than 1150 stores in eighteen states. TitleMax serves individuals who generally have limited access to consumer credit from banks, thrift institutions, credit card lender and other traditional sources of consumer credit. TitleMax offers a title loan product which allows customers to meet their liquidity needs by borrowing against the value of their vehicles while retaining use of their vehicle during the term of the loan.
In September 1998, TitleMax opened the first location in Columbus, Georgia. In October 1998, TitleMax opened its second location in Savannah, Georgia. Many Savannah locations were then established, and later that year, TitleMax opened the first out-of-state store in Phenix City, Alabama. Over the next ten years, the company continued expanding, eventually growing to over 500 locations by the end of 2007, and surpassing $200,000,000 in account receivables.
TitleMax’s parent company, TMX Finance, controls over 1,450 stores and employs over 3,300 people nationwide.
https://www.titlemax.com/ 6 Investment Overview INVESTMENT SUMMARY Atlanta Real Estate Group is pleased to present this freestanding TitleMax located in Berea (Greenville), Greenville County, South Carolina. Greenville is lcoated in western South Carolina about two hours northeast of Atlanta and 100 miles northwest of the South Carolina state capital of Columbia. This highly visible store is located at the lighted intersection of Farrs Bridge Road and Hunts Bridge Road. The site is surrounded by other INVESTMENT HIGHLIGHTS national retailers including Bi-Lo, AutoZone, Wendy’s, Bank of America, SunTrust, Subway, Dollar Tree, BB&T, • NNN Lease with 6 Years Remaining Hardee’s and O’Reilly Auto Parts. • 2% Annual Rent Increases The tenant signed a 30 year NNN lease in January 2015 • Lease Guaranteed by TMX Finance - Operates that offers two percent annual rent increases. The tenant 1,400+ Locations Nationwide has a right to terminate the lease after years 10, 15, 20 • Tenant Reimburses for all Taxes, Insurance & and 25. Under the lease, the tenant is responsible for the payment of all taxes, insurance and CAM on the CAM Expenses property, including the roof and structure. The lease is • Lease has Term through 2045 guaranteed by the parent company of TitleMax, TMX Finance, which has over 1,400 locations nationwide. • Located less than 100 Miles from South Carolina state capital of Columbia • Located at High Visibility Lighted Intersection • Surrounded by National Retailers 7 Regional Map
8 Local Map
9 Aerial
10 Survey
11 Property Photo
12 Property Photo
13 Property Photo
14 Property Photo
15 Property Photo
16 Property Photo
17 Property Photo
18 Property Photo
19 Property Photo
20 Property Photo
21 Property Interior Photo
22 Property Interior Photo
23 Demographic Summary - PopStats 1990 - 2000 - 2010 Census, Q2 2016 Estimates & Q2 2021 Projections DemographicsCalculated using TAS Retrieval Sep 22, 2016 Latitude: 34.883396 Longitude: -82.455536 2 Farrs Bridge Rd, Greenville, SC 29617 1 Mile Radius 3 Mile Radius 5 Mile Radius
Current Estimated Population 7,109 45,967 102,639 2021 Projected Population 7,098 46,375 105,224 2010 Census Population 6,820 43,321 95,783
Population 2000 Census Population 6,650 41,362 92,482 1990 Census Population 6,235 40,651 91,863
Historical Annual Growth 1990 to 2000 0.65 % 0.17 % 0.07 % Historical Annual Growth 2000 to 2010 0.25 % 0.46 % 0.35 % Estimated Annual Growth 2010 to 2016 0.67 % 0.95 % 1.11 % Projected Annual Growth 2016 to 2021 -0.03 % 0.18 % 0.50 %
Median Age 36.57 36.11 37.24
Current Estimated Households 2,596 17,669 40,627 2021 Projected Households 2,594 17,838 41,838 2010 Census Households 2,485 16,613 37,658 Households 2000 Census Households 2,625 16,520 37,048 1990 Census Households 2,449 15,870 36,427
Historical Annual Growth 1990 to 2000 0.70 % 0.40 % 0.17 % Historical Annual Growth 2000 to 2010 -0.55 % 0.06 % 0.16 % Estimated Annual Growth 2010 to 2016 0.70 % 0.99 % 1.22 % Projected Annual Growth 2016 to 2021 -0.02 % 0.19 % 0.59 %
Population per Household 2.65 2.54 2.40
Population White 59.69 % 65.58 % 66.86 %
by Race Black or African American 17.75 % 19.80 % 23.09 % Asian & Pacific Islander 1.86 % 1.13 % 1.00 % Other Races 20.70 % 13.49 % 9.05 %
Non Hispanic or Latino Population 72.47 % 80.20 % 86.99 % Hispanic or Latino Population 27.53 % 19.80 % 13.01 % Income Average Household Income $39,950 $40,861 $53,837 Median Household Income $30,238 $29,896 $35,708 Per Capita Income $15,167 $15,941 $21,839
Elementary 10.03 % 10.89 % 8.81 %
Education 24
(Age 25+) Some High School 17.85 % 16.73 % 14.24 % High School Graduate 38.29 % 34.52 % 30.54 % Some College 19.49 % 19.06 % 18.99 % Associates Degree Only 5.36 % 5.35 % 5.76 % Bachelors Degree Only 5.50 % 9.07 % 13.27 % Graduate Degree 3.49 % 4.39 % 8.39 % Business Number of Businesses 103 819 3,448 Total Number of Employees 1,150 11,569 59,475 Employees per Business 11.19 14.13 17.25 Residential Population per Business 69.19 56.13 29.77
© 2016, Trade Area Systems 1 of 1 Demographic Source: Synergos Technologies, Inc This report was produced using data from private and government sources deemed to be reliable and is herein provided without representation or warranty. TitleMax
2 Farrs Bridge Road Berea (Greenville), SC 29617
For further information, please contact:
Todd Bunke
Atlanta Real Estate Group
404-964-9048