3612 - 3892 CENTER STREET NE | SALEM OREGON 97301 EVERGREEN PLAZA FOR SALE CLICK HERE TO SIGN CA FOR FULL RENT ROLL PACKAGE RYAN IMBRIE| MANAGING DIRECTOR [email protected] www.svnimbrie.com O: 503.208.9403 | M: 503.705.7352 All SVN® Offices Independently Owned and Operated CLICK HERE FOR PROPERTY VIDEO PROPERTY INFORMATION SALE PRICE $19,850,000 PRICE/SF $227.98 BUILDING SIZE 87,069 SF LOT SIZE 324,957 SF (7.46 AC) TENANCY Multi ZONING CR PARKING RATIO 5.66/1,000 YEAR BUILT 1990-1992 PARCEL NUMBER R24076, R24079, R24077, R24062, R24059 TENANT BREAKDOWN MARKET Salem SVN-Imbrie Realty is proud to present the Evergreen Plaza in Salem, Services Oregon. This 87,069 SF multi-tenant plaza is shadow anchored by Target 23% and benefits from the additional foot traffic created by the 645,000 SF Food regional mall, the Willamette Town Center, to the North. Evergreen Plaza 41% features an attractive mix of national, regional and local tenants that include Buffalo Wild Wings, Cold Stone Creamery, Lenscrafters, Chang’s Mongolian Grill, Great Clips and Subway. Goods 36% Evergreen Plaza was built in 1990-1992 and is well situated near Interstate 5 and is in the heart of the retail corridor of East Salem. Additionally, the property has gone through recent updates. On-site electric car charging stations were recently installed and shadow anchor Target has recently gone through cosmetic updates with fresh paint. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. Cold Stone Creamery is an American ice cream Nagoya Japanese Steakhouse & Sushi is a local hibachi style Japanese parlor chain. Headquartered in Scottsdale, Arizona, steakhouse. The extensive menu offers offer a wide variety of the company is owned and operated by Kahala authentic Japanese cuisine including steaks, chicken, seafood, Brands. sushi. With 7 locations in Oregon, Chang’s Mongolian Grill is the largest chain of all you can eat Mongolian KKOKI BBQ is a Korean barbecue restaurant that serves a range style restaurant in State of Oregon. of autentic Korean food and beverage items. At every KKOKI BBQ place, everyone gathers around a grill in the middle of the table. The establisment serves angus prime rib, beef, chicken, pork, shrimp and noodle soup. It additionally serves seafood hot pot & late night special dishes. Subway is an American privately-held restaurant franchise that primarily sells submarine sandwich- es (subs) and salads. It is one of the fastest-growing franchises in the world and, as of October 2019, Sally Beauty is the world's largest retailer of salon-quality hair color, had 41,512 locations in more than 100 countries. hair care, nails, salon, and beauty supplies. Great Clips is a hair salon franchise with over 4,100 Awesome Indoor Playground is Salem, Oregon’s largest indoor play locations across the United States and Canada. structure, serving locally sourced coffee and hand crafted pizza Buffalo Wild Wings is an American casual dining restaurant and Plato's Closet buys and sells gently used clothing sports bar franchise which specializes in Buffalo wings and sauces. for teens and twenty-something boys and girls. Currently there are 1,238 locations in 10 different countries LensCrafters is an international retailer of prescription eyewear and prescription sunglasses. Its stores usually host independent optometrists on-site or in an adjacent store. The company has its corporate headquarters in Mason, Ohio. LensCrafters has been a wholly owned subsidiary of Italy’s Luxottica, the largest eyewear company in the world, since 1995 At the end of 2018, Luxottica operated 1,158 LensCrafters stores FURNITURE GALLERY NW BRIGHT MINDS HEARING TENANT PROFILES The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. PROPERTY FINANCIALS APPROX. IN-PLACE PRO-FORMA EVERGREEN PLAZA TENANTS SQ. FT. ANNUAL INCOME 5% VACANCY 3612-3892 CENTER ST NE Occupied Space Click Here for Rent Roll 87,069 100.0% $1,548,067 $1,548,067 SALEM, OR 97301 Vacant See rent roll for detail 0 0% $0 Price: $19,850,000 Total Building SF 87,069 $1,548,067 $1,548,067 INCOME CURRENT PRO-FORMA Tenant Spaces: 24 Scheduled Gross Annual Income $1,548,067 $1,548,067 Actual CAP Rate: 7.67% Recapture / CAM $381,326 $381,326 Pro-Forma CAP Rate: 7.18% Price/SF: $227.98 Less: Vacancy Valued on in-place income / 5% Vacancy $0 ($96,470) Year Built: 1990/1992 Other Income: $0 $0 Acreage: 7.46 Effective Annual Income $1,929,394 $1,832,924 % EFFECTIVE EXPENSES $/SF/YR CURRENT PRO FORMA ANNUAL INCOME CAM Expenses $1.80 $156,348 $156,348 Real Estate Taxes $2.08 $180,828 $180,828 Property Insurance $0.19 $16,536 $16,536 Management Fees $0.62 $54,000 $54,000 Total Estimated Annual Expenses 30.62% $4.68 $407,712 $407,712 Total Estimate Net Operating Income $1,521,682 $1,425,212 PLACEMENT OF NEW DEBT TYPE: New Debt: 10 year Fixed, 30 year Amortization COMMENTS: Prepayment Penalty Schedule: 5, 5, 4, 4, 3, 3, 2, 2, 1, 1 Interest Amortization of Debt Coverage Ratio % Down: Down Payment Loan Balance: Monthly Payment: Annual Debt Service: Rate: Loan: (DCR) 35.00% $6,947,500 $12,902,500 $4.00% 30 ($61,598.51) ($739,182.10) 2.06 DEBT PLACEMENT OPTIONS IN-PLACE INCOME Debt Placement Quote Provided By: Net Operating Income: $1,521,682 Matthew Paresi | Senior Vice President Less: Loan Payment: ($739,182) Leeson Advisors Before Tax Cash Flow: $782,499 P: 971.645.3980 Cash-on-cash Return: 11.26% [email protected] The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. PROPERTY SITE PLAN Furniture Gallery NW The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. EVERGREEN PLAZA PROPERTY PARCEL MAP 21,240 ADT 25,230 ADT SALEM, OREGON INFORMATION 2018 DEMOGRAPHICS Salem is the capital of the State of Oregon, and the county seat of Marion County. It is located in the center of the Willamette Valley alongside the Willamette River, which runs north 294,994 111,752 5 M 5 M through the city. The river forms the boundary between Marion 132,117 IL 49,051 IL and Polk counties, and the city neighborhood of West Salem is E E 17,407 6,010 in Polk County. Salem was founded in 1842, became the capital 3 3 M M of the Oregon Territory in 1851, and was incorporated in 1857. I I L L E E The city is home to Willamette University, Corban University, 1 1 M M I and Chemeketa Community College. The State of Oregon is I L L E the largest public employer in the city, and Salem Health is E the largest private employer. Transportation includes public transit from Salem-Keizer Transit, Amtrak service, and non-commercial air travel at McNary Field. Major roads include Interstate 5, Oregon Route 99E, and Oregon Route 22, which connects West Salem across the Willamette River via the Marion Street and Center Street bridges. POPULATION HOUSEHOLDS $77,814 $317,774 5 M 5 M I I $69,801 LE $262,764 LE $62,551 $251,844 3 3 M M I I L L E E 1 1 M M I I L L E E AVERAGE HH INCOME AVERAGE HOUSE VALUE DISCLAIMER EXCLUSIVELY LISTED BY The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the RYAN IMBRIE| MANAGING DIRECTOR SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible [email protected] purchase of the Property. O: 503.208.9403 | M: 503.705.7352 The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof.