AUTUMN CREEK DUPLEXES 17 DUPLEXES 412 SE FRONT STREET NEW BOSTON, TX 75570 Steve Fithian, CCIM, CPM, SEC Managing Director 817.288.5524 [email protected] TX #0407418 SVN | TRINITY ADVISORS | 3000 RACE STREET, SUITE 100, FORT WORTH, TX 76111 OFFERING MEMORANDUM PROPERTY INFORMATION 3 FINANCIAL ANALYSIS 17 Property Summary P&L Summary Property Description Financing Options Complete Highlights Rent Roll City Information Red Unit Mix & Rent Schedule River Army Depot Property Details & Highlights TexAmericas Center Property Survey Additional Photos Additional Photos DEMOGRAPHICS 24 Additional Photos Demographics Report LOCATION INFORMATION 13 Demographics Map Regional Map ADVISOR BIO 27 Retailer Map Advisor Bio Aerial Map AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET, NEW BOSTON, TX 75570 OFFERING MEMORANDUM 1 PROPERTY INFORMATION 412 SE Front Street New Boston, TX 75570 AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET NEW BOSTON, TX 75570 SVN | Trinity Advisors | Page 3 Property Summary OFFERING SUMMARY PROPERTY OVERVIEW Sale Price: $3,100,000 Autumn Creek duplexes consists of 17 duplexes (34 units) on a full city block in New Boston, TX built in 2008/ 2009. Each building consists of two units with a mixture of 3 bedroom, 2 bathroom and 2 bedroom, 2 bathroom Number of Units: 17 Duplexes (34 Units) configurations. All duplexes have brick exteriors and are individually metered for electricity and water. Located Lot Size: 2.7 Acres less than 0.5 miles from downtown New Boston, the county seat of Bowie County, and 1.5 miles from Interstate Cap Rate: 6.54% 30 with direct access to Dallas/Fort Worth to the West and Texarkana to the East. Occupancy rates attest to the attractive location of the duplexes and their condition: vacancies have averaged less than 4% since summer NOI: $202,823 2019. Building size: 34,725.00 Sq. Feet AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET NEW BOSTON, TX 75570 SVN | Trinity Advisors | Page 4 The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Property Description LOCATION OVERVIEW Located between the Dallas/Fort Worth metroplex and Texarkana, New Boston has a population of roughly 5,000 people and is located along Interstate 30. New Boston is the county seat of Bowie County, which includes Texarkana. The population of Bowie County is 95,000. The city is strategically situated close to major employers in the area such as the Bowie County Courthouse, New Boston Lumber Mill, Red River Army Depot, TexAmericas Center, and more. New Boston is approximately 25 miles West of Texarkana and 175 miles East of the Dallas/Fort Worth metroplex. Due to its close proximity to Interstate 30 and large employers, New Boston is home to many national retail and food chains such as WalMart Supercenter, Brookshire’s, Ace Hardware, O’Reilly Auto Parts, Dairy Queen, Sonic, and more. AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET NEW BOSTON, TX 75570 SVN | Trinity Advisors | Page 5 The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Complete Highlights SALE HIGHLIGHTS • Rare opportunity to own 17 duplexes on a full city block. • Consistent cash flow shown throughout trailing financials. • Attractive brick structure built in 2008 & 2009. • Units are separately metered for electricity and water. • All bills paid by tenants. • All utilities are electric. • Individually fenced back yards. • Desirable rental location for workforce housing in New Boston. • Low historical vacancy. Vacancy rate approximately 3% since last summer. • New Boston is home to the Bowie County Courthouse, which employs about 75 people. • Less than 3 miles from the Red River Army Depot and TexAmericas Center, which employs over 3,500 people. • Less than 6 miles to Barry B. Telford Unit Prison, which employs over 700 people. • Nearby Interstate 30 provides direct access to the Dallas/Fort Worth metroplex to the West and Little Rock, AR to the East. • Less than 3 miles to all assigned schools. • Consistent preventive maintenance including regular pest control and • HVAC filter changes. • Priced competitively compared to recent sales. • Proven consistent cash flow (including throughout time of COVID). • Newer build construction with brick exteriors, low maintenance costs. • Opportunity to increase rents evidenced by new leases. AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET NEW BOSTON, TX 75570 SVN | Trinity Advisors | Page 6 The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. City Information CITY OVERVIEW New Boston, Texas has thriving school systems, family-friendly events and convenient access to larger cities like Little Rock and Dallas. The New Boston Chamber of Commerce sponsors a variety of events every year, bringing residents together to celebrate holidays, festivals and more. COUNTY INFORMATION Bowie County lies in extreme northeastern Texas between the Red River and Sulphur River. COMMUNITY AT A GLANCE Fun is never more than minutes away, for fishing, hunting, camping, boating, or simply a drive through the beautiful countryside. Discover the rolling Red River, where catfish get bigger every year, and Lake Wright Patman, whose clean waters and restful piney woods offer the perfect getaway. New Boston has a very active youth sports association with approximately 1500 children engaged in softball, baseball, soccer, basketball and football on a year round basis. PUBLIC SCHOOLS • Crestview Elementary: 1.2 miles from Autumn Creek Duplexes • New Boston Middle School: 2.7 miles from Autumn Creek Duplexes • New Boston High School: 0.6 miles from Autumn Creek Duplexes PUBLIC FACILITES • Tennis Court • 2 Parks • Golf Club • Public Library • Sports Center • Go Kart Speedway • Elk Meadow Game Ranch • Wright Patman Lake • Millwood Lake • Circle Rocking N Ranch (7 miles from New Boston.) AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET NEW BOSTON, TX 75570 SVN | Trinity Advisors | Page 7 The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. Red River Army Depot RRAD OVERVIEW Red River Army Depot not only supports the Army but also provides inter-service support to the Marine Corps, Air Force, and Navy’s repair and overhaul programs. Their commitment to productivity, quality, and cost-efficient performance not only ensures their place as vital partners with the Department of Defense, but it also keeps them at the forefront of partnerships with private industry. Since 2002, Red River has signed over 40 teaming agreements and negotiated over 200 partnering contracts generating more than $400 million in revenue.. HIGHLIGHTS • Located about 2.7 miles from Autumn Creek Duplexes. • Constructed during WWII • Today, a dedicated workforce of more than 3,500 people are engaged in work ranging from producing timber to re-manufacturing the Mine Resistant Ambush Protected Vehicle. • RRAD is responsible for over 5,000 civilian deployments to Kuwait, Afghanistan, and Iraq in direct support of the Soldiers in the field. AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET NEW BOSTON, TX 75570 SVN | Trinity Advisors | Page 8 The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated. TexAmericas Center TEXAMERICAS CENTER OVERVIEW One of the largest rural industrial centers in the Americas, TexAmericas Center brings together an unmatched land resource of nearly 12,000 acres and 3 million square feet of office, manufacturing, warehouse and storage space. TexAmericas Center, just west of Texarkana, Texas, offers both rail and interstate transportation, abundant natural and human resources, adaptable infrastructure and a climate and culture that understands, appreciates and encourages business growth. TEXAMERICAS CENTER HIGHLIGHTS • TexAmericas Center (texamericascenter.com) • The Red River Redevelopment Authority was chartered as a Special Purpose District by The Texas Legislature in 1998 with a mission to transform former military land and buildings into a successful, privately held industrial park. • By bringing together local governments and leading business executives, TexAmericas Center creates service-oriented, knowledgeable staff and abundant resources to support the establishment or expansion of business in the region. • The Authority rebranded all of its real estate assets under the banner of the TexAmericas Center in 2010. AUTUMN CREEK DUPLEXES | 412 SE FRONT STREET NEW BOSTON, TX 75570 SVN | Trinity Advisors | Page 9 The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It