Gleaux Car Wash 2412 Oak Creek Blvd Tyler, TX 75703 2 SANDS INVESTMENT GROUP EXCLUSIVELY MARKETED BY
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1 Gleaux Car Wash 2412 Oak Creek Blvd Tyler, TX 75703 2 SANDS INVESTMENT GROUP EXCLUSIVELY MARKETED BY: JESS KAPPLEMAN ELAN SIEDER MAX FREEDMAN Lic. # 701105 Lic. # 678407 Lic. # 644481 512.856.7719 | DIRECT 512.649.5185 | DIRECT 512.766.2711 | DIRECT [email protected] [email protected] [email protected] 305 CAmp CrAFt RoAd, Suite 550 WestlAke Hills, TX 78746 844.4.SIG.NNN www.SIGnnn.com In Cooperation With Sands Investment Group Austin, LLC Lic. # 9004706 BoR: Max Freedman - Lic. # 644481 SANDS INVESTMENT GROUP 3 TABLE OF CONTENTS 04 06 07 12 14 INVESTMENT OVERVIEW LEASE ABSTRACT PROPERTY OVERVIEW AREA OVERVIEW TENANT OVERVIEW Investment Summary Lease Summary Property Images Demographics Tenant Profile Investment Highlights Rent Roll Location, Aerial & Retail Maps City Overview © 2021 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum’, has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy; however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine its accuracy and completeness. Any and all proJections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these proJections, market assumptions and cash flow analysis are subJect to change with property and market conditions. Sands Investment Group encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction. ACTUAL PROPERTY IMAGE SANDS INVESTMENT GROUP 4 INVESTMENT SUMMARY Sands Investment Group is Pleased to Exclusively Offer For Sale the 3 , 960 SF Gleaux Car Wash at 2412 Oak Creek Boulevard in Tyler, TX. This Opportunity Includes a Brand- New Construction Long- Term 20 Year Triple Net (NNN) Lease in a Tax- Free Income State, Providing For a Secure Investment. OFFERING SUMMARY PRICE $3,864,000 CAP 7.25% NOI $280,140 GUARANTOR Personal & Corporate PROPERTY SUMMARY ADDRESS 2412 Oak Creek Boulevard Tyler, TX 75703 COUNTY Smith BUILDING AREA 3,960 SF LAND AREA 2.0 AC BUILT 2019 GLEAUX CAR WASH 5 HIGHLIGHTS • New 2019 Construction Long-Term 20 Year Triple Net • Tyler is 1.5 Hours East of Dallas and Was Named After (NNN) Lease With a Corporate and Personal Guarantee the 10th President John Tyler; Tyler is Known as the “Rose Capital Of America” From Its Long History of Rose Production, Cultivation and Processing; It Has the • Excellent Demographics With Over 53,602 Residents Largest Rose Garden in the U.S.(14 Acres) With Over Making an Average Household Income Of $94,747 38,000 Rose Bushes of at Least 500 Different Varieties Within a 5-Mile Radius • Tyler's MSA Has a Population of Over 230,000 People • Conveniently Located Along Hwy 2493 With Direct and it Includes Large Manufacturing Facilities Such as: Access Into Downtown Tyler (Just 8-Miles) Dynaenergetics, Trane and Cavendars; It Also Includes Upwards of 30,000 Higher Education Students Due to • 7 Minutes East of Hwy 69 and Major Tenants Like the University of Texas Health Sciences Center and the Academy Sports, T.J. Maxx, Burlington, Pizza Hut, Tyler Junior College Kohl’s, Target, Cheddar’s and Walmart Supercenter • Texas is a Tax-Free Income State • University of Texas at Tyler is Just 8.5-Miles Away and Serves Over 10,527 Students; It is Part of the • Nearby Users Include: Tyler Athletic Club and Swim University of Texas System Who’s Headquartered in Center, Jack Elementary School, Bruno’s Pizza & Pasta, Austin and Has a Total Enrollment of Over 216,000 Hagen’s Lighting, Super Food Mart, Pump Jaxe Urban Students; It is the Largest Public University System in Axe Throwing, Christ Church South, Blue Coral Pools the U.S. and More LEASE SUMMARY6 TENANT Gleaux Car Wash PREMISES A Building of Approximately 3,960 SF LEASE COMMENCEMENT October 23, 2019 LEASE EXPIRATION November 30, 2040 LEASE TERM ~20 Years Remaining RENEWAL OPTIONS 2 x 10 Years RENT INCREASES 1.5% Annually LEASE TYPE Triple Net (NNN) PERMITTED USE Car Wash PROPERTY TAXES Tenant's Responsibility INSURANCE Tenant's Responsibility COMMON AREA Tenant's Responsibility ROOF & STRUCTURE Tenant's Responsibility REPAIRS & MAINTENANCE Tenant's Responsibility HVAC Tenant's Responsibility UTILITIES Tenant's Responsibility RIGHT OF FIRST REFUSAL Yes SQUARE ANNUAL RENT FOOTAGE BASE RENT PER SF 3,960 SF $280,140 $70.74 ACTUAL PROPERTY IMAGE ACTUAL PROPERTY IMAGES 7 8 DALLAS LONGVIEW SHREVEPORT 9 Oak Creek Blvd 10 W Cumberland Rd Oak Creek Blvd 11 W Cumberland Rd 12 (29,689 VPD) (29,689 (25,889 VPD) (7,980 VPD) 2 MILES 3 MILES 5 MILES 10 MILES POPULATION 8,615 17,509 53,602 171,785 S Belt Line Rd (7,526 VPD) AVERAGE HH $123,211 $104,399 $94,747 $76,899 INCOME TYLER | SMITH COUNTY | TEXAS 13 Tyler is the county seat of Smith County, located in east-central Texas. The city of Tyler has long been Smith County's maJor economic, educational, financial, medical, and cultural hub. The city is named for John Tyler, the tenth President of the United States. Tyler's 2018 estimated population was about 230,000 residents. It is 100 miles southeast of Dallas. Tyler is the principal city of the Tyler metropolitan statistical area and it is the regional center of the Tyler-Jacksonville combined statistical area, which had a population of about 280,000 people in 2018. Tyler is known as the "Rose Capital of America”, which is a nickname it earned from a long history of rose production, cultivation, and processing. In addition to its role in the rose-growing industry, Tyler is the headquarters for Brookshire Grocery Company, which operates Brookshire's, Fresh, Super 1 Foods, and Spring Market supermarkets in three states (Texas, Louisiana, and Arkansas). The company's main distribution center is located in south Tyler, while SouthWest Foods, a subsidiary that processes dairy products, is located just northeast of the city. As a regional educational and technology center, Tyler is the host for more than 20,000 higher-education students, a college of engineering, a university health science center, and two regional hospital systems. Annually, the Texas Rose Festival draws thousands of tourists to Tyler, which celebrates the role of the rose-growing industry in the local economy. Tyler is home to the largest rose garden in the United States, which is a 14- acre public garden complex that has over 38,000 rose bushes of at least 500 different varieties. The Tyler Rose Garden is also home to the annual Texas Rose Festival, which attracts tourists by the thousands each year in mid- October. The festival features a parade, the coronation of the Rose Queen, and other civic events. Tyler is also home to the Caldwell Zoo and Broadway Square Mall. The city is also home to the Tyler State Park, located a few miles North of the city limits, which attracts visitors with opportunities to camp, canoe, and paddle boat on the lake. Other available pastimes include picnicking, boating, fishing, hiking, mountain biking and lake swimming. ROSE PRODUCTION IN TYLER CALDWELL ZOO TYLER, TX 14 GLEAUX CAR WASH TENANT PROFILE Gleaux Car wash is a Texas venture started in 2019 by industry veterans that have been in the Car Wash sector for over 12 years. The company has one store open and a second store opening in late 2020 with plans for additional stores throughout east Texas. Along with their reputation for exquisite attention to detail, the owners of Gleaux have assembled a management team primed to make a positive impact on the community and to train and equip leaders to achieve excellence. WEBSITE facebook.com/GleauxCarWashTyler SANDS INVESTMENT GROUP 15 CONFIDENTIALITY AGREEMENT The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reViewed only by the party receiVing it from Sands InVestment Group and should not be made available to any other person or entity without the written consent of Sands InVestment Group. This Offering Memorandum 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, 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 Offering Memorandum has been obtained from sources we belieVe to be reliable; howeVer, Sands InVestment Group has not verified, and will not verify, any of the information contained herein, nor has Sands InVestment Group 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. By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner.