NNN INVESTMENT PROPERTY AT SOLOMON'S PIER · SVN | K & M Commercial Real Estate | 459 Herndon...

SVN | K & M Commercial Real Estate | 459 Herndon Parkway, Suite 21, Herndon, VA 20170 OFFERING MEMORANDUM

NNN INVESTMENTPROPERTY ATSOLOMON'S PIER14575 SOLOMONS ISLAND RD S.SOLOMONS, MD 20688

Kayvan Mehrbakhsh, CCIM, MBAManaging [email protected]

OFFERING MEMORANDUMSVN | K & M Commercial Real Estate | 459 Herndon Parkway, Suite 21, Herndon, VA 20170

PROPERTY INFORMATION 3Executive SummaryProperty DescriptionProperty DetailsAdditional Photos

LOCATION INFORMATION 8Retailer MapRegional MapLocation MapsAerial Map

FINANCIAL ANALYSIS 13Financial SummaryIncome & Expenses

DEMOGRAPHICS 16Demographics ReportDemographics Map

ADVISOR BIOS 19Advisor Bio & Contact 1

14575 Solomons Island Rd S. | Solomons, MD 20688

NNN INVESTMENT PROPERTY AT SOLOMON'S PIERFOR SALE | RETAIL

All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

1 PROPERTY INFORMATION11 PROPERTY

INFORMATION14575 Solomons Island Rd S.

Solomons, MD 20688

NNN INVESTMENT PROPERTY AT SOLOMON'S PIER | 14575 SOLOMONS ISLAND RD S. SOLOMONS, MD 20688 SVN | K & M Commercial Real Estate |

OFFERING SUMMAROFFERING SUMMARYY

Sale Price: $3,000,000

Cap Rate: 7.2%

NOI: $216,000

Lot Size: 0.31 Acres

Year Built: 1967

Building Size: 12,500

Renovated: 2017

Zoning: TC

Market: Washington DC

Price / SF: $240.00

SVN - K&M Commercial as the Exclusive Brokerage Firm is happy to present this NNN Investment Restaurant with thePier Restaurant Group for SALE. Unique property located on the historic island of Solomon which sits on Solomon's pier.The only restaurant on the island with pier access and views. Located where the Patuxent River meets the ChesapeakeBay. Newly renovated and updated. Landlord holds a license to pier granted by War Department of 1933.

PROPERPROPERTTY OY OVERVERVIEWVIEW

PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS

• New 10 Year Lease with Options with The Pier Restaurant Group

• 7.2% Cap Rate

• 1% Annual Escalations

• Newly Renovated and Updated Restaurant and Pier

• Located on Patuxent River

• Only Restaurant on Island with Pier Views and Access


Executive Summary


SVN - K&M Commercial as the Exclusive Brokerage Firm is happy to present this NNN InvestmentRestaurant with the Pier Restaurant Group for SALE. Unique property located on the historic island ofSolomon which sits on Solomon's pier. The only restaurant on the island with pier access and views.Located where the Patuxent River meets the Chesapeake Bay. Newly renovated and updated. Landlordholds a license to pier granted by War Department of 1933.

PROPERPROPERTTY OY OVERVERVIEWVIEW

Located at the point of Solomon's Pier with views of the Patuxent River. Solomon's Island and Pier is anhistoric island surrounded by docks, beach homes, and multiple shops and restaurants. Approximately 90minutes from Washington DC.

LLOCOCAATION OTION OVERVERVIEWVIEW

Property Description

SSALE PRICEALE PRICE $3,$3,000000,,000000

LLOCOCAATION INFTION INFORMAORMATIONTION

Building Name NNN Investment Property at Solomon's Pier

Street Address 14575 Solomons Island Rd S.

City, State, Zip Solomons, MD 20688

County/Township Calvert

Market Washington DC

BUILDING INFBUILDING INFORMAORMATIONTION

Building Size 12,500 SF

Occupancy % 100%

Tenancy Single

Number Of Floors 2

Year Built 1967

Last Renovated 2017

PROPERPROPERTTY DETY DETAILSAILS

Property Type Retail

Property Subtype Free Standing Building

Zoning TC

Lot Size 0.31 Acres

APN# 01-024396


Property Details


Additional Photos




2 LOCATION INFORMATION22 LOCATION

INFORMATION14575 Solomons Island Rd S.

Solomons, MD 20688



Retailer Map

NNN Investment Property atSolomon's Pier


Regional Map

Location Maps


NNN Investment Property atSolomon's Pier


Aerial Map




3 FINANCIAL ANALYSIS33 FINANCIAL

ANALYSIS14575 Solomons Island Rd S.

Solomons, MD 20688


INVESINVESTMENT OTMENT OVERVERVIEWVIEW

Price $3,000,000Price per SF $240.00CAP Rate 7.2%Cash-on-Cash Return (yr 1) 8.79 %Total Return (yr 1) $115,769Debt Coverage Ratio 1.44

OPERAOPERATING DTING DAATTAA

Gross Scheduled Income $216,000Other Income -Total Scheduled Income $216,000Vacancy Cost $0Gross Income $216,000Operating Expenses -Net Operating Income $216,000Pre-Tax Cash Flow $65,925

FINANCING DFINANCING DAATTAA

Down Payment $750,000Loan Amount $2,250,000Debt Service $150,075Debt Service Monthly $12,506Principal Reduction (yr 1) $49,844


Financial Summary

INCINCOME SUMMAROME SUMMARYY PER SFPER SF

The Pier Restaurant Group $216,000 $17.28

GrGross Ioss Incncomeome $216,$216,000000 $17$17.28.28

EXPENSE SUMMAREXPENSE SUMMARYY PER SFPER SF

GrGross Expensesoss Expenses -- --

NNeet Opert Operaating Iting Incncomeome $216,$216,000000 $17$17.28.28


Income & Expenses




4 DEMOGRAPHICS44

DEMOGRAPHICS14575 Solomons Island Rd S.

Solomons, MD 20688


1 MILE1 MILE 5 MILES5 MILES 10 MILES10 MILES

Total population 1,306 35,276 80,814

Median age 42.1 36.1 35.7

Median age (male) 42.1 35.9 35.4

Median age (female) 42.5 36.5 36.0

Total households 493 12,931 29,524

Total persons per HH 2.6 2.7 2.7

Average HH income $88,583 $83,153 $89,939

Average house value $356,474 $354,867 $407,687

* Demographic data derived from 2010 US Census


Demographics Report

POPULAPOPULATIONTION 1 MILE1 MILE 5 MILES5 MILES 10 MILES10 MILES

Total population 1,306 35,276 80,814

Median age 42.1 36.1 35.7

Median age (male) 42.1 35.9 35.4

Median age (Female) 42.5 36.5 36.0

HOUSEHOLDS & INCHOUSEHOLDS & INCOMEOME 1 MILE1 MILE 5 MILES5 MILES 10 MILES10 MILES

Total households 493 12,931 29,524

# of persons per HH 2.6 2.7 2.7

Average HH income $88,583 $83,153 $89,939

Average house value $356,474 $354,867 $407,687

* Demographic data derived from 2010 US Census

Demographics Map





5 ADVISOR BIOS 55 ADVISOR BIOS14575 Solomons Island Rd S.

Solomons, MD 20688


459 Herndon Parkway, Suite 21Herndon, VA 20170T 703.734.2822C [email protected] #0225084011

PROFESSIONAL BPROFESSIONAL BAACKCKGROUNDGROUND

Kayvan Mehrbakhsh, CCIM serves as Managing Director for the SVN K&M Commercial Real Estate Office in Herndon, Virginia. Mr. Mehrbakhsh

specializes in the sale and leasing of both Medical properties and Government properties, as well as similar transactions for office facilities

outfitted with high-tech networking systems, in the Northern Virginia region.

Over the duration of his seventeen plus year career, Mr. Mehrbakhsh has closed more than $940 million in transactions. He continues to

diligently monitor market conditions to adequately advise clients and ensure that they receive fair market rates for leases, property investments,

and sales.

Before his service at SVN, Mr. Mehrbakhsh was an associate commercial broker at Fairfax Realty, Inc., where he provided expert advice and

served as a Broker for financial institutions, corporate landowners, and other investors.

Mr. Mehrbakhsh also has previous experience as Senior Project Manager at MCI Telecommunications where he oversaw land acquisition

transactions, building design and construction, and the migration of data centers throughout both the United States and Europe.

A member of the Northern Virginia Association of Realtors, Mr. Mehrbakhsh sits as Chairman of the Associations Commercial Alliance. He has

also served as president of the Mid Atlantic Real Estate Marketing Association (MAREMA) in 2007 and continues his service as a board member

of that organization. He also maintains membership in the following organizations: International Council of Shopping Centers (ICSC), the Realtors

Land Institute, the Greater Washington Commercial Association of Realtors, and the North Carolina Association of Realtors.

Mr. Mehrbakhsh has earned the prestigious designation of Council of Commercial Investment Member (CCIM) and currently holds a seat on the

board of their Washington DC-Maryland chapter.

Mr. Mehrbakhsh received his Masters of Business Administration from American University holds a Bachelor of Science in Information Systems

from Radford University. Mr. Mehrbakhsh holds licenses in Virginia, North Carolina, Washington D.C. and Maryland.

EDUCEDUCAATIONTION

MBA - American University

BBA - Radford University

MEMBERSHIPS & AFFILIAMEMBERSHIPS & AFFILIATIONSTIONS

CCIM - Certified Commercial Investment Member

KAKAYVYVAN MEHRBAN MEHRBAKHSH, CAKHSH, CCIM, MBCIM, MBAA

Managing Director


Advisor Bio & Contact 1

NNN INVESTMENT PROPERTY AT SOLOMON'S PIER · SVN | K & M Commercial Real Estate | 459 Herndon...

Documents

Transcript of NNN INVESTMENT PROPERTY AT SOLOMON'S PIER · SVN | K & M Commercial Real Estate | 459 Herndon...