Confidential Offering Memorandum -...

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829 HWY 469 NORTH, FLORENCE, MS 39073 FOR SALE | $1,115,174 DOLLAR GENERAL #15738 | 15 YR NNN | 7.25% CAP 662.237.6000 // 705 LEXINGTON STREET, CARROLLTON, MS 38917 // WWW.MONTGOMERYSOUTHERN.COM/ Confidential Offering Memorandum CHARLES MONTGOMERY Owner/Broker 662.455.1745 [email protected] Retail Investment Opportunity

Transcript of Confidential Offering Memorandum -...

Page 1: Confidential Offering Memorandum - …images3.loopnet.com/d2/cq5_uSEiI-qj84keABtA0_bBRoKyZLc4__jiL0r4j2U/...662.237.6000 // 705 LEXINGTON STREET, CARROLLTON, MS 38917 // 3 7.25% CAP

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662.237.6000 // 705 LE XINGTON STREET, CARROLLTON, MS 38917 // WWW.MONTG OMERYSOU THERN.COM/

Confidential Offering Memorandum

CH ARLE S MONTG OMERYO wner/Broker662.455.1745

charl ie@msrl lc.net

Retail Investment Opportunity

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Confidentiality & Disclaimer

All materials and information received or derived from Montgomery Southern Realty its directors, officers, agents,advisors, affiliates and/or any third party sources are provided without representation or warranty as tocompleteness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicablegovernmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither Montgomery Southern Realty its directors, officers, agents, advisors, or affiliates makes any representationor warranty, express or implied, as to accuracy or completeness of the any materials or information provided,derived, or received. Materials and information from any source, whether written or verbal, that may be furnishedfor review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. Montgomery Southern Realty will not investigate or verify any such matters orconduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and toconduct their own inspections and investigations including through appropriate third party independentprofessionals selected by such party. All financial data should be verified by the party including by obtaining andreading applicable documents and reports and consulting appropriate independent professionals. MontgomerySouthern Realty makes no warranties and/or representations regarding the veracity, completeness, or relevance ofany financial data or assumptions. Montgomery Southern Realty does not serve as a financial advisor to any partyregarding any proposed transaction. All data and assumptions regarding financial performance, including that usedfor financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/orprojected rents that may be provided to a party do not necessarily mean that rents can be established at orincreased to that level. Parties must evaluate any applicable contractual and governmental limitations as well asmarket conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the partywith a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officeror attorney. Questions regarding the condition of the property and whether the property complies with applicablegovernmental requirements should be discussed by the party with appropriate engineers, architects, contractors,other consultants and governmental agencies. All properties and services are marketed by Montgomery SouthernRealty in compliance with all applicable fair housing and equal opportunity laws.

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7.25% CAP15 Year NNN Lease9,026 Square FeetPopulation >19,000 in a 5 mile radius5 - (5) Year Options with 10% IncreasesAll Heavy-Duty Concrete Parking Area

PROPERTY OVERVIEW

This newly constructed Dollar General commencement date is May 25, 2015. This property islocated in Florence, MS, in the highly desirable Monterey Community of Rankin County offHwy 469 North (3800 VPD). It is located less than 3 miles from Florence High School, FlorenceElementary, & Steens Creek Elementary where the population exceeds 5,400 in that radius.

LOCATION OVERVIEW

OFFERING SUMMARY

Sale Price: $1,115,174

Price / SF: $123.55

Cap Rate: 7.25%

NOI: $80,850

Lot Size: 1.1 Acres

Year Built: 2015

Building Size: 9,026 SF

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Investment Summary

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Aerial Map

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Area National Retailers

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F O R S A L E | $ 1 , 1 1 5 , 1 7 4

#15738 | 15 YR NNN | 7.25% CAP

Location Maps

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* Demographic data derived from 2010 US Census

POPULATION 3 MILES 5 MILES 7 MILES

TOTAL POPULATION 5,434 19,138 48,490

MEDIAN AGE 36.5 35.7 34.9

MEDIAN AGE (MALE) 34.8 34.3 33.5

MEDIAN AGE (FEMALE) 39.6 38.0 36.9

HOUSEHOLDS & INCOME 3 MILES 5 MILES 7 MILES

TOTAL HOUSEHOLDS 1,722 5,822 17,074

# OF PERSONS PER HH 3.2 3.3 2.8

AVERAGE HH INCOME $59,861 $59,105 $57,102

AVERAGE HOUSE VALUE $150,121 $142,314 $130,059

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Demographics Map