CLIFF AVENUE PLAZA MULTI-TENANT RETAIL …...casual attire, shoes & accessories, plus tuxedo...

CLIFF AVENUE PLAZA MULTI-TENANT RETAIL STRIP CENTER FOR SALE | SIOUX FALLS, SD

LAKEPORT COMMONS MULTI-TENANT INVESTMENT PROPERTY5000-5018 SERGEANT ROAD, S IOUX C ITY, IA 51106

101 S. Reid Street, Suite 201, Sioux Falls, SD 57103 | 605.323.2820Information herein is deemed reliable, but not guaranteed.

INVESTMENT PROPERTY FOR SALE

LAKEPORT COMMONS MULTI-TENANT INVESTMENT OPPORTUNITY | LLOYD COMPANIES INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. | 2

LAKEPORT COMMONS MULTI-TENANT INVESTMENT OPPORTUNITY | SIOUX CITY, IA

Lloyd Companies is pleased to present the opportunity to acquire

an investment property located at the Lakeport Commons Shopping

Center in Sioux City, IA. The site consists of a 10,960 square foot

retail building, which is currently 100% leased to five tenants.

The tenants include Complete Nutrition, Firehouse Subs, Men’s

Warehouse, The UPS Store and Winestyles.

[email protected]

JORDAN RIEFFENBERGER, CCIMDIRECTOR OF COMMERCIAL REAL ESTATE

Investment Summary

Pricing $3,712,302

Net Operating Income $250,580

Cap Rate 6.75%

Year Built 2007

Total Building Size 10,960 Square Feet

Site Size 1.26 Acres / 54,997 SF

Current Occupancy 100%


FINANCIAL OVERVIEW

LAKEPORT COMMONS MULTI-TENANT INVESTMENT OPPORTUNITY

Occupancy Rate: 100% (Fully Leased)

Sales Price: $3,712,302

Cap Rate: 6.75%

Net Rentable Area (NRA): 10,960 RSF

Price / SF: $338.71

Lot Size: 1.26 Acres / 54,997 SF

Year Built: 2007


TENANT OVERVIEW | SIOUX CITY, IA

Complete Nutrition

Complete Nutrition® is a network of high-quality nutritional supplement

retail stores whose mission is to create safe and effective weight

management, sports nutrition, fitness and general health programs to help

customers look better, feel better and perform better.

Firehouse Subs

Firehouse Subs is a fast-casual restaurant chain founded in 1994 in

Jacksonville, Florida by former firefighter brothers. Donated firefighter

gear and memorabilia and other elements reminiscent of a fire

department are the decor and focus of the restaurants.

Address: Lease Expiration: Gross Leasable Area: Pro Rata Share of Project: Number of Locations:Headquartered:Website:


5004 Sergeant Road

July 1, 2019

1,215 Square Feet

11.1%

136

Omaha, NE

http://www.completenutrition.com/

5008 Sergeant Road

May 14, 2019

1,945 Square Feet

17.7%

1,105

Jacksonville, FL

http://www.firehousesubs.com/



Men’s Wearhouse

Men’s Wearhouse is a menswear chain offering brand-name formal &

casual attire, shoes & accessories, plus tuxedo rentals. For over 40 years,

Men’s Wearhouse has been dedicated to helping men look and feel their

best.

The UPS Store

The UPS Store is a locally owned franchise offering a range of products

and services designed specifically to help and support small business

owners in the local community.



5016 Sergeant Road

February 28, 2023

4,717 Square Feet

43.0%

700+

Houston, TX

http://www.menswearhouse.com/

5006 Sergeant Road

June 30, 2019

1,424 Square Feet

13.0%

5,000+

San Diego, CA

http://theupsstore.com/



WineStyles

WineStyles® Tasting Station® was born out of the original WineStyles

concept, which was founded in 2002 after a backyard barbeque blind

tasting of wines proved the most popular were not the most expensive,

but simply the bottles that tasted the best. As a result, WineStyles created

a completely new category in the wine retail industry by empowering

customers to choose wines based on taste, instead of varietal or region.

WineStyles® Tasting Station® offers guests a unique retail experience

and warm ambiance that is reminiscent of an old-world wine cellar.


5002 Sergeant Road

February 15, 2019

1,659 Square Feet

15.2%

15

West Des Moines, IA

http://www.winestyles.com/


BUILDING PHOTOS | SIOUX CITY, IA


LAKEPORT COMMONS MULTI-TENANT INVESTMENT OPPORTUNITY | SIOUX CITY, IA

UGE

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20' Utility Easement

15.00' Utility Easement

70.00'DEDICATED

R.O.W.

37.00'B/CURB

toB/CURB

CONCRETE PAVEMENT W/ INTREGAL CURB

30.00' Perpetual

Access Easement

16.50'

10''SA10''SA

10''SA10''SA

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15.00' Utility

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Access toPublic Street

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81.3'

77.2'

14.7'

64.7'

23.6'

59.4'

60.0'

83.3'

24''ST

S75°39'37"W 106.75'

18.72'

S19°09'20"E 41.00'

N05°41'41"W

167.55'

N02°03'32"W

41.00'

N84°18'18"E 90.40'

N05°41'41"W

207.43'

77.22'

S73°10'51"W 95.94'

S18°22'12"E 174.80'

S67°36'04"W 87.26'

ASPHALT PARKING W/ CONCRETE CURB & GUTTER

S23°12'11"E 221.54'

Rad=848.67' Len=224.56' Chord=223.90' - N74°25'49"E

S84°18'18"W 87.57'

STST

ST

163.2'

74.4'

62.5'

117.4'




CONCRETE WALK

CONCRETE PATIO

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DUMPSTER

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WEST LINE,OUTLOT 6

WEST LINE,OUTLOT 7

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Subject Parcel54,997 Sq.Ft.

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Project No.267018

Outlots 6 and 7, Lakeport Commons, an addition to Sioux City, Woodbury County, Iowa;

EXCEPT that portion of said Outlot 6 described as follows: Beginning at the southwestcorner of said Outlot 6; thence North 05°41'41" West along the west line of said Outlot 6for a distance of 167.55 feet; thence North 02°03'32" West along said west line for adistance of 41.00 feet to the northwest corner of said Outlot 6; thence easterly along thenorth line of said Outlot 6 and along a non-tangent curve to the left having a radius of848.67 feet, for a distance along the arc of 87.85 feet, the chord of which bears North84°58'33" East a distance of 87.81 feet; thence South 05°41'41" East for a distance of207.43 feet to the south line of said Outlot 6; thence South 84°18'18" West along saidsouth line for a distance of 90.40 feet to the Point of Beginning.

AND ALSO EXCEPT that portion of said Outlot 7 described as follows: Beginning at thesoutheast corner of said Outlot 7; thence South 62°31'23" West along the southeast line ofOutlot 7 for a distance of 71.24 feet; thence South 67°36'04" West along said southeastline for a distance of 87.26 feet; thence North 23°12'11" West for a distance of 221.54 feetto the northwest line of said Outlot 7; thence northeasterly along the northwest line of saidOutlot 7, and along a non-tangent curve to the left having a radius of 848.67 feet, for adistance along the arc of 130.74 feet, the chord of which bears North 62°26'12" East adistance of 130.61 feet to the northeast corner of said Outlot 7; thence South 30°14'06"East along the northeast line of said Outlot 7 for a distance of 229.11 feet to the southeastcorner of said Outlot 7 and to the Point of Beginning

PARCEL DESCRIPTION TITLE COMMITMENT IA17137775, SCHEDULE B-II, Exceptions:

Regular stalls (9' x 20') 67Handicap stalls 3

PARKING DATA

LEGEND

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The underground utilities shown hereon are approximate. Utilities have been located fromfield survey information and existing drawings. The Surveyor makes no guarantees thatthe underground utilities shown comprise all such underground utilities in the area, eitherin service or abandoned. The Surveyor further does not warrant that the undergroundutilities shown are in exact location indicated although the Surveyor does certify that theyare located as accurately as possible from information available. The Surveyor has notphysically located the underground utilities. One-Call Locate Request No. 551701020

UTILITY DATA

TV TV

OHCATV OHCATV

To Circle Point Ventures, LLC, First Dakota National Bank Fidelity National TitleInsurance Company and Professional Title Company:This is to certify that this map or plat and the survey on which it is based were madein accordance with the 2016 Minimum Standard Detail Requirements forALTA/NSPS Land Title Surveys, jointly established and adopted by ALTA andNSPS, and includes Items 1, 4, 7(a)(b1), 8, 9 & 11 of Table A thereof. The field workwas completed on March 9, 2017.

Date of Map: March 20, 2017

ALTA/ASCM SURVEYORS CERTIFICATE

11. Rights of re-entry of the State of Iowa as contained in:(a). filed August 11, 1978, in Roll 81, Image 385(b). filed October 16, 1978, in Roll 83, Image 656(c). filed February 20, 1980, in Roll 97, Image 2156(d). filed July 16, 1980, in Roll 102, Image 186(e). filed filed April 3, 1987, in Roll 184, Image 1893(f). filed December 6, 2004, in Roll 667, Image 774(g). filed March 31, 2005, in Roll 673, Image 3557

- SUBJECT PROPERTY BORDERS PRIMARY ROAD NO. U.S. 20-75 AS SHOWN HEREON.

12. Resolution of the Woodbury County Board of Supervisors, #6332, recorded on May 12, 1977 onRoll 62, Image 2118, contains provisions and regulations governing the use of certain lands designatedas Flood Hazard Area...

- SUBJECT PROPERTY IS NOT LOCATED IN A FLOOD HAZARD AREA.

13. Resolution of the Woodbury County Board of Supervisors, #6333, recorded on May 12, 1977 onRoll 62, Image 2120, contains provisions and regulations governing the issuance of building permits...

- AFFECTS PROPERTY BUT IS UNLOCATABLE AND/OR BLANKET IN NATURE.

17. Subject to the Donner Park Urban Renewal Project Area...- AFFECTS PROPERTY BUT IS UNLOCATABLE AND/OR BLANKET IN NATURE.

18. Plat of Survey, filed December 28, 2004 in Roll 669, Image 1250...- SUBJECT PROPERTY IN CONTAINED ENTIRELY WITHIN THE BOUNDARY OF THEPARCEL SHOWN ON THE PLAT OF SURVEY.

19. Ordinance No. 2004-000395, filed May 5, 2004 in Roll 642, Image 1190, Records of WoodburyCounty, Iowa. Regarding rezoning to zone classification BG (General Business Zone)...


21. Assessment Agreement filed January 21, 2005 in Roll 671, Image 2782 Records of WoodburyCounty, Iowa., by and between the City of Sioux City, Iowa, an Iowa municipal corporation andLakeport Commons, L.L.C...


23. Development Agreement by and between Lakeport Commons, L. L. C., an Iowa limited liabilitycompany and City of Sioux City, Iowa filed November 22, 2004 in Roll 665 Image 2226 Records ofWoodbury County, Iowa.

(a). Certificate of Completion filed October 2, 2007 Roll 693 Image 11397 Records of WoodburyCounty, Iowa.


24. Plat and Dedication of Lakeport Commons, an Addition to the City of Sioux City, WoodburyCounty, Iowa filed May 16, 2005 in Plat Envelope 690 A & B, Docket No. 18368 Records ofWoodbury County, Iowa

- SUBJECT PROPERTY IS CONTAINED ENTIRELY WITHIN THE BOUNDARY OF THEADDITION SHOWN ON THE PLAT, PLATTED EASEMENTS ARE SHOWN HEREON.

26. Underground Electric and Gas Easement filed May 16, 2005 in Roll 674, Image 6901 Records ofWoodbury County, Iowa, grants to MidAmerican Energy Company, an Iowa corporation, its successorsand assigns, a perpetual right-of-way easement, for the purpose of constructing, reconstructing,operating, maintaining and removing underground wires and cables for the transmission anddistribution of electric energy and for communication and electrical controls, and a pipeline for naturalgas including the necessary appurtenances under and on a portion of subject property, together with theright of ingress and egress.

- AFFECTS SUBJECT PROPERTY AND IS SHOWN HEREON.

29. Operation and Easement Agreement filed May 24, 2005, at Roll 675 Image 2002 Records ofWoodbury County, Iowa executed by and between Lakeport Commons, L.L.C., an Iowa limitedliability company and Kohl's Department Stores, Inc., a Delaware corporation.

(a). First Amendment filed September 15, 2006, in Roll 686 Image 6171.(b). Second Amendment filed June 12, 2007 in Roll 691 Image 8402.(c). Third Amendment filed December 27, 2007, Roll 691 Image 6282.- AFFECTS PROPERTY BUT IS UNLOCATABLE AND/OR BLANKET IN NATURE

30. Memorandum of Developer Rights Agreement dated March 11, 2005, filed May 24, 2005 in Roll675 Image 2052 Records of Woodbury County, Iowa by and between Kohl's Department Stores, Inc.,and Lakeport Commons, LLC.


31. Declaration of Easements, Covenants and Restrictions filed July 19, 2005, in Roll 677 Image 1401Records of Woodbury County, Iowa.

- PERPETUAL ACCESS EASEMENT FROM EXHIBIT B AFFECTS SUBJECT PROPERTYAND IS SHOWN HEREON

32. Declaration of Use Restriction filed September 15, 2006 in Roll 686 Image 6201 Records ofWoodbury County, Iowa.


33. Plat of Survey filed June 29, 2007 in Roll 692 Image 1309 Records of Woodbury County, Iowa.- SUBJECT PROPERTY IS THE SAME AS THE BOUNDARY OF THE PARCEL SHOWNON THE PLAT OF SURVEY.

34. Restrictions of ingress and egress along Highway Right of Way.- SUBJECT PROPERTY BORDERS PRIMARY ROAD NO. U.S. 20-75 AS SHOWN HEREON

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