Post on 27-Jul-2020
STARBUCKS & PACIFIC DENTALLAKE CHARLES, LA
TWO-TENANT STRIP CENTER PAD$88K+ INCOMES IN 1-MILE RADIUSLAKE CHARLES HAS THE FASTEST GROWING GDP IN THE U.S. 2
STARBUCKS & PACIFIC DENTAL
6.40%CAP
$2,819,328PRICE
NELSON RD & COUNTRY CLUB RD, LAKE CHARLES, LA
Brand new Starbucks and Pacific Dental
Pad to a thriving Kroger anchored center
Benefiting from combined traffic of 62,000+ VPD
Lake Charles has the fastest growing GDP in the U.S.
Outstanding Demographics
Average household incomes in a 1-mile radius are nearly $90K
Amazon proof tenantsThis information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
LEASABLE SF4,913 SF
LAND AREA1.86 Acres
YEAR BUILT2017
OCCUPANCY100%
PARKING55 SPACES
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Overview
THE SUBJECT PROPERTY is located within the dominant retail trade area in Lake Charles, LA, and is an outparcel within a booming Kroger anchored shopping center. Kroger relocated to its current location in the center doubling the store size due to overwhelming success within the Lake Charles market. The offering provides an opportunity to acquire a stabilized two-tenant property in one of the fastest growing economies in the U.S. As a result of the thriving economy, population and incomes have also grown: within a 1-mile radius average incomes are nearly $90,000. The existing tenants are positioned for lasting success due to the desirable long-term fundamentals and positive economic forecast for the region.
THE RETAIL MARKET – In September 2017 the department of commerce released a report naming Lake Charles, LA, as having the fastest growing GDP in the U.S. with 8.1% growth. According to the Commerce Department’s Bureau of Economic Analysis, retail sales per capita in Lake Charles are 84% higher than the national average. The property serves as a two tenant pad to a Kroger anchored shopping center. Other tenants within the shopping center include Sport Clips, Super Cuts, Anytime Fitness, CVS, and more. The subject property has excellent visibility and access along Nelson Road, with a combined traffic count of over 62,000 VPD.
Contact the team
STARBUCKS IS THE WORLD’S #1 SPECIALTY COFFEE RETAILER
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
RICK SANNERrsanner@capitalpacific.comSan Francisco, CA PH: 415.274.2709CA BRE# 01792433
IN CONJUNCTION WITH LA LICENSED BROKER: Beau J. BoxBaton Rouge, LA225.237.3343bbox@beaubox.com
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Investment Highlights
210210210
NELSO
N RO
AD
RYA
N S
TREE
TCOUNTRY CLUB ROAD384
385
385
CONTRABAND BAYOU
GOLF CLUB
FK WHITE MIDDLE SCHOOL
LAGRANGE HIGH
SCHOOL
AM BARBE HIGH
SCHOOL
ELWOOD HAYES
ELEMENTARY
SJ WELSH MIDDLE SCHOOL
LAKE AREA MEDICAL CENTER
PRIEN LAKE ELEMENTARY
DOLBY ELEMENTARY
MCNEESE STATE
UNIVERSITY
OUR LADY QUEEN OF HEAVEN SCHOOL
MOSS MEMORIAL HOSPITAL
BRENTWOOD ELEMENTARY
HENRY HEIGHTS
ELEMENTARY
COLLEGE OAKS
ELEMENTARY
THE COUNTRY CLUB AT
THE GOLDEN NUGGET
H&R BLOCK
LAKECHARLES
38,000VPD
29,625 VPD
16,207VPD
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.5
RYA
N S
TREE
T
5
Aerial
KrogerCVSCapital One BankMcDonald’sAutoZoneSprint
Lakeside BankO’Reilly Auto PartsSonicDollar GeneralExxonValero
WalgreensAlbertsonsPizza HutJimmy John’sTaco BellLake Area Medical Center
BUSINESS SUMMARY
KEY 1-MILE 3-MILES 5-MILES
TOTAL 1-MILE 3-MILES 5-MILES
Businesses 306 1,790 3,588
Employees 3,891 23,288 50,520
Residential Population 8,977 44,368 77,592
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Submarket Overview
RETAILERS IN CLOSE PROXIMITY INCLUDE:
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Surrounding Retailers
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
PRICE $2,819,328 Price Per Square Foot: $573.85Capitalization Rate: 6.40%Total Rentable Area (SF): 4,913Lot Size (AC): 1.86
STABILIZED INCOME PER SQUARE FOOTScheduled Rent $36.73 $180,437 Tax Recoveries $2.50 $12,282 Insurance Recoveries $0.70 $3,439 CAM Recoveries $1.50 $7,390
EFFECTIVE GROSS INCOME $203,548
ADJUSTED GROSS INCOME $203,548
LESS PER SQUARE FOOTTaxes ($2.50) ($12,282.00)Insurance ($0.70) ($3,439.00)Common Area Expenses ($1.50) ($7,390.00)
TOTAL EXPENSES ($4.70) ($23,111)
EQUALS NET OPERATING INCOME $180,437
Landlord Responsible for Roof and Structure
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Income & Expense
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
TENANT INFO LEASE TERMS RENT SUMMARYTENANT NAME SQ. FT. CURRENT
RENTMONTHLY
RENTYEARLY
RENTMONTHLY RENT/FT
YEAR RENT/FT
Starbucks1 1,900 1 5 $77,995 $6,500 $77,995 $3.42 $41.05
6 10 $7,150 $85,804 $3.76 $45.16
Option 1 11 15 $7,866 $94,392 $4.14 $49.68
Option 2 16 20 $8,658 $103,892 $4.56 $54.68
Option 3 21 25 $9,529 $114,342 $5.02 $60.18
Pacific Dental2 3,013 1 5 $102,442 $8,537 $102,442 $2.83 $34.00
6 10 $9,391 $112,686 $3.12 $37.40
Option 1 11 15 $10,330 $123,955 $3.43 $41.14
Option 2 16 20 $11,362 $136,338 $3.77 $45.25
TOTALS: 4,913 $180,437 $15,036 $180,437 $3.06 $36.73
1Starbucks must exercise termination option within 120 days after 5th lease year. Lease terminates 180 days after notice/option is exercised.2Pacific Dental has the one time right to terminate the lease any date on or within one 120 days after the expiration of the 5th lease year.
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Rent Roll
55SPACES
4,913RENTABLE SF
1.86ACRES
NEL
SON
RO
AD
W MCNEESE STREET
COUNTRY CLUB ROAD384
24,000VPD
38,000 VPD
10This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
NELSON ROAD10
Site Plan
NEL
SON
RO
AD
COUNTRY CLUB ROAD384
2,000 SF 5,625 SF 4,000 SF
FAST
FO
OD 38,000
VPD
Shopping Center
11This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
GAS
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The world’s #1 specialty coffee retailer, Starbucks has more than 25,000 coffee shops in 70 countries, and over 254,000 employees. The outlets offer coffee drinks and food items, as well as roasted beans, coffee accessories, and teas. In 2017 the chain had a net revenue of $22.4 Billion, and an operating income of $4.4 Billion. Starbucks has a credit rating of A- from Standard & Poor, and is traded on the NASDAQ under SBUX.
STARBUCKS
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
LOCATIONS IN THE UNITED STATES13,930+
LOCATIONS IN 19 STATES600+
Pacific Dental Services provides administrative support to dental practices, allowing dentists to focus on dentistry. Since its inception in 1994, Pacific Dental Services has grown from one, to now more than 390 practices in ten states. Pacific Dental Services has been ranked on the prestigious Inc. 500/5000 list as one of the fastest-growing private companies in America, and has won the Inc. Hire Power Award for “Top 100 Job Creators” for two years running. Pacific Dental Services supports approximately 700 dentists and has over 5,000 employees.
PACIFIC DENTAL
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Tenant Mix
POPULATION
1-MILE 3-MILES 5-MILES
2010 7,826 40,989 72,995
2017 8,977 44,368 77,592
2022 9,587 46,738 80,911
2017 HH INCOME
1-MILE 3-MILES 5-MILES
Average $88,684 $81,384 $70,145
Median $55,881 $55,322 $45,729
TOP EMPLOYERS
EMPLOYER # OF EMPLOYEES
Calcasieu Parish School System 4,866
Lake Charles Memorial Hospital 2,148
Westlake Group 1,693
Golden Nugget 1,413
L’Auberge – Lake Charles 1,300
LAKE CHARLES LAFAYETTE
(1 HR 20 MIN 80 MILES)
THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS
IS OVER $88K
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
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Demographics
LAKE CHARLES, LOUISIANA
LAKE CHARLES is located on Lake Charles, Prien Lake, and the Calcasieu River in the southwest region of Louisiana. The City of Lake Charles is conveniently located off Interstate-10 between Houston, TX and New Orleans, LA. Lake Charles is connected to the Gulf by means of a deep-water ship channel and is the seat and port of entry of Calcasieu Parish. As the fifth largest incorporated city in Louisiana, Lake Charles serves as a major industrial, cultural, and educational center. The city hosts over 75 festivals and carnivals, giving the city its nickname “The Festival Capital of Louisiana”. The region is a hub of tourism and is known for having booming manufacturing, commerce, retail, and casino industries.
THE LAKE CHARLES ECONOMY grew at the fastest rate of any metro area in the nation in 2016, according to a recent study by the Commerce Department’s Bureau of
Economic Analysis. The area’s GDP increased by 8.1%, beating out 382 cities, 267 of which also saw increases.
ECONOMIC GROWTH
76,846
LAKE CHARLES POPULATION (ESTIMATED)
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
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Location Overview
We’d love to hear from you.
CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
JOE CACCAMOJOHN ANDREINI
ZANDY SMITH
DAVE LUCAS
RICK SANNER AARON SUSMAN
CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS
JACK NAVARRA
RICK SANNERrsanner@capitalpacific.comSan Francisco, CAPH: 415.274.2709CA BRE# 01792433
IN CONJUNCTION WITH LA LICENSED BROKER: Beau J. BoxBaton Rouge, LA225.237.3343bbox@beaubox.com
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