FOR SALE MEMORANDUM...1710 S. ALMA SCHOOL ROAD | MESA, AZ TABLE OF CONTENTS All information...
Transcript of FOR SALE MEMORANDUM...1710 S. ALMA SCHOOL ROAD | MESA, AZ TABLE OF CONTENTS All information...
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FOR SALE MEMORANDUM
1710 S. ALMA SCHOOL ROAD | MESA, AZ
CLIFFORD J. CUTLER
President, Designated Broker
(602) 386.1240
FOR MORE INFORMATION, PLEASE CONTACT:
BRAD BURRESS
Senior Associate
(602) 386.1250
CUTLER COMMERCIAL
2150 E. Highland, Suite 207
Phoenix, AZ 85016
P (602) 955-3500 | F (602) 955-
2828
All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
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1710 S. ALMA SCHOOL ROAD | MESA, AZ
TABLE OF CONTENTS
All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
Confidentiality Disclaimer
Aerial Retail Map
Executive Summary
Rent Roll
Income Expenses
Tenant Info
Site Plan
Property Photographs
Demographics
Location Map
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
1710 S. ALMA SCHOOL ROAD | MESA, AZ CONFIDENTIALITY DISCLAIMER
CUTLER COMMERCIAL has been appointed as the exclusive agent for the sale of 1710 South Alma School Road, in Mesa, AZ (the “Property”), by the
owner of the property (“Seller”).
The property is being offered for Sale in an “as-is” condition and Seller and Agent make no representations or warranties as to the accuracy of the
Information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely
for the purpose of review by prospective purchasers of the interest described herein. Neither the enclosed Materials nor any information contained
herein is to be used for any other purpose or made available to any other person without the express written consent of the Seller. Each recipient, as
a prerequisite to receiving the enclosed, should be registered with Cutler Commercial as a “Registered Potential Investor” or as “Buyers Agent” for an
identified “Registered Potential Investor”. The use of this Offering Memorandum and the information Provided herein is subject to the terms, provisions
and limitations of the confidentiality agreement furnished by Agent prior to delivery of this Offering Memorandum.
The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely re-
sponsible. The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or
implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and direc-
tors, as to the accuracy and completeness of the information contained herein. Summaries contained herein of any legal or other documents are
not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained
therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or
any other written or oral communication or information transmitted or make available or any action taken or decision made by the recipient with re-
spect to the Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon material contained
herein.
Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being Marketed for sale at any time and for any reason.
Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regard-
ing the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correc-
tion or errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any represen-
tations or agreements on behalf of Seller.
Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation
and/or making an offer to purchase the property unless and until a binding written agreement for the purchase of the property has been fully execut-
ed, delivered, and approved by Seller and any conditions to Seller’s obligations thereunder have been satisfied or waived. By taking possession of
and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential
nature and will be held and treated in the strictest confidence and shall Be returned to Agent or Seller promptly upon request; and (b) the recipient
shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without
the prior written approval of the Seller Or Agent; and (c) no portion of the enclosed Materials may be copied or otherwise reproduced without the
prior written authorization of Seller or Agent or as otherwise provided in the Confidentiality and/or Registration Agreement executed and delivered by
the recipient(s) to CUTLER COMMERCIAL.
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
AERIAL MAP 1710 S. ALMA SCHOOL ROAD | MESA, AZ
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of
commissions for particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of
floor plan/site plan dimensions.
EXECUTIVE SUMMARY
Property Location: 1710 S. Alma School Road | Mesa, AZ | 85210
Offering Price: $2,929,000
Building Size: ±15,000 SF
Lot Size: ±53,400 SF
Parking: ±3.07/1,000 SF
Boot Barn has occupied the premises since October 2007
Mattress Firms lease terminates September 30th of 2018
Location is directly South of the US 60 Freeway
Desert Samaritan Hospital and Mesa Community College
Great access to the Superstition Freeway/ US 60 and Alma School Road
(Full Diamond Interchange)
Zoning: C-2, City of Mesa
1710 S. ALMA SCHOOL ROAD | MESA, AZ
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
RENT ROLL 1710 S. ALMA SCHOOL ROAD | MESA, AZ
TENANT SQUARE FEET
ORIGINAL LEASE TERM
LEASE COMMENCEMENT
LEASE EXP
RENTAL INCREASES OPTIONS RENT PSF BASE RENT
PER MONTH ANNUAL
RENT
BOOT BARN ±10,000 10 YEARS 10/1/2007 9/30/2027 3% ANNUAL 2 (TWO), 5
(FIVE) YEAR OPTIONS
$20 $16,667.67 $200,000.00
MATTRESS FIRM ±5,000 5 YEARS 10/1/2006 9/30/2018 $25.55 $10,645.00 $127,740.00
TOTAL SF ±15,000 100% MONTHLY INCOME $27,312.67
OCCUPIED SF ±15,000 100% ANNUAL IN-COME $327,740
AVAILABLE SF 0 0% AVERAGE RENT PSF $21.85±
NOTE: MATTRESS FIRM EXPIRES 9/30/2018
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
INCOME & EXPENSES 1710 S. ALMA SCHOOL ROAD | MESA, AZ
ACTUAL
(10/1/18)
Size: ±15,000 Sq. Ft.
Boot Barn ±10,000 Sq. Ft. $206,000.00
Available ±5,000 Sq. Ft. $100,000.00
(Proposed Rent)
TOTAL GROSS ANNUAL INCOME $306,000.00
Less Vacancy & Reserve $15,300.00
EFFECTIVE GROSS INCOME $290,700.00
Less Expenses Year 2017
Landscaping $4,995
Water $2,419
Trash $8,747
Back Flow $353
Property Taxes $22,261
Insurance $2,276
Management $10,000
Rental Tax for Boot Barn $4,635.00
Total for Building $55,686.00
NET OPERATING INCOME $235,014.00
CAP RATE (PROJECTED CAP RATE): 7.83%
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
1710 S. ALMA SCHOOL ROAD | MESA, AZ TENANT INFO
Boot Barn, founded in 1978 is the nation’s leading lifestyle retailer of western
and work-related footwear, apparel and accessories for men, women, and
children. The Company offers its loyal customer base a wide selection of work
and lifestyle brands. Boot Barn, Inc. owns and operates 208 stores in 29 states
and is a chain of western and workwear retail stores in the United States. It of-
fers boots, shoes, shirts/jackets, bottoms, work apparel and hats; western,
work, motorcycle, equestrian, outdoor and casual boots; and jeans for men,
women and kids. The company also provides accessories that include ban-
danas, belt buckles, belts, bolo ties, boot care, colognes and perfumes,
gloves, headwear, keychains, money clips, handbags, hair accessories, jew-
elry, scarves, socks, wallets, watches, phone accessories, and small leather
goods. It also sells products online. The company was founded in 1978 and is
based in Irvine, California. Boot Barn, Inc. operates as a subsidiary of Boot
Barn Holdings, Inc.
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SITE PLAN 1710 S. ALMA SCHOOL ROAD | MESA, AZ
All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
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PROPERTY PHOTOGRAPHS 1710 S. ALMA SCHOOL ROAD | MESA, AZ
All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
1710 S. ALMA SCHOOL ROAD | MESA, AZ DEMOGRAPHICS
INFO OBTAINED FROM COSTAR
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All information furnished is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, or withdrawal without notice and to any special listings conditions, including the rate and manner of payment of commissions for
particular offerings imposed by principals or agreed to by the company, the terms of which are available to interested principals or brokers. All dimensions are approximate. Owner and/or Broker make no representations expressed or implied as to the accuracy of floor plan/site plan dimensions.
LOCATION MAP 1710 S. ALMA SCHOOL ROAD | MESA, AZ