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WOODBRIDGE COMMONS 8040 Woodbridge Parkway Sachse, Texas 75048

For Information:

Sharon Herrin [email protected]

972-980-0400 www.herrincommercial.com

RETAIL CENTER FOR SALE

mailto:[email protected]?subject=Property%20Inquiry

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General Information…….. 3-4

Site Plan……………………….. 5

Property Location Info….. 6-10

Demographics………………. 11

Traffic Counts………………… 12

Tenants.…………………………. 13

Financial Analysis………….. 14-19

Rent Comparables…………. 20-24

Brokerage Services Info…. 25

WOODBRIDGE COMMONS 8040 Woodbridge Parkway

Sachse, Texas 75048

Disclaimer The information contained herein was obtained from sources believed reliable, however, Herrin Commercial Real Estate makes no guarantees, warranties or representations as to the com-pleteness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price prior to prior sale or lease or withdrawal without notice.

www.herrincommercial.com

Contents

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Sachse, Texas 75048

GENERAL INFORMATION

Summary Data:

Building Size………. 10,035 SF

Lot Size………………. 1.02 Acres

Year Built……………. 2017

Occupancy………….. 100%

Sale Price……………. $4,625,000

Price / SF…………….. $460.89

Cap Rate…………….. 6.34%

NOI (2020 est) …………. $293,243

Property Highlights:

Multi-tenant retail center recently completed with high-quality construction of building, parking areas, utilities and landscape

Located within rapidly developing retail sector of Sachse in Collin county near the intersection of State Highway 78 and Woodbridge Pkwy

Adjacent to large single-family and multi-family communities

High traffic counts on all adjacent roads and highways

Walmart Super Center directly across Woodbridge Pkwy is a major draw / traffic generator for all area merchants


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Sachse, Texas 75048


GENERAL INFORMATION — Regional Overview

PROPERTY AND LOCATION DESCRIPTION

Subject property in NEQ of Woodbridge Parkway and State Highway 78 in the growing northern submarket of Sachse, Texas. It is located

directly across Woodbridge Parkway from WalMart Super Center which has 305 employees. Adjacent to Murphy Express, a gasoline and

convenience store, as well as Enterprise Rental Car and Marvel Carwash. Additional new retail and residential development continues in

this quadrant. Subject is 100% leased and all leases are triple-net. Tenants are a complementary mix of local, regional and national busi-

nesses. They include Verizon Wireless; Great Clips; Toplite Nail Spa; General Nutrition; Travis Rottman, DDS; and Massage Bliss & Cryo.

The center, constructed in 2017, has 10,035 square feet of lease-able area and is situated on 1.02 acres of land.

MARKET AREA OVERVIEW

Subject property is surrounded by the high growth markets of Rowlett, North Garland, Wylie and Murphy. The major thoroughfare in the

City of Sachse is State Highway 78 where traffic counts exceed 40,000 vehicles per day. Retailers in the immediate area include Spec’s,

7-Eleven, CVS, Walgreens, as well as Dollar General. President George Bush Turnpike and Firewheel Town Center are 3.5 miles to the

southwest with over 125 retail stores including Macy’s, Dillard’s, AMC Theatres, and many others. The towns of Wylie and Murphy are

located to the north and east where retailers Target, Michaels, Office Depot and many others are located. The eastern expansion of the

President George Bush Turnpike will offer a multitude of new opportunities for businesses and residents in Sachse. The newly completed

widening of State Highway 78 through the city has also expanded the opportunity for new businesses to make Sachse home.

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Sachse, Texas 75048


SITE PLAN

Wo

od

brid

ge Pkw

y

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Sachse, Texas 75048


PROPERTY LOCATION — Regional map

GARLAND

ADDISON

ROWLETT

SACHSE

WYLIE MURPHY PLANO

RICHARDSON

Lake Lavon

Lake Ray Hubbard

ROCKWALL

Dallas North Tollway

US 75 Central Expwy

Pres George Bush Tpk

I-635 LBJ Fwy

Subject Property

FRISCO

Interstate Hwy 30

State Hwy 78

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Sachse, Texas 75048

PROPERTY LOCATION — Regional Aerial

New Retail Development

Subject Property

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Sachse, Texas 75048


PROPERTY LOCATION — Neighborhood Aerial

Subject Property

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Sachse, Texas 75048


PROPERTY LOCATION— Neighborhood Photo

Subject Property

Single-family Residential

Multi-family Residential

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Sachse, Texas 75048


PROPERTY LOCATION — Close-in Aerial

Subject Property

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Sachse, Texas 75048


DEMOGRAPHICS — Population, Household and Income Data (1, 3, 5 mile radii)

POPULATION 1-Mile 3-Miles 5-Miles

2010 Population 5,975 63,103 143,959

2019 Population (Esri forecasts) 9,539 80,688 182,775

2024 Population (Esri 5-year projection) 11,189 90,724 206,010

2019 Median Age 35.0 34.7 35.5

NUMBER OF HOUSEHOLDS 1-Mile 3-Miles 5-Miles

2010 Households 2,139 20,169 45,961

2019 Households 3,278 25,420 57,288

2024 Households (Esri 5-year projection) 3,799 28,372 64,267

2019 Average Household Size 2.91 3.17 3.19

INCOME 1-Mile 3-Miles 5-Miles

2019 Average Household Income $117,743 $114,053 $119,925

2024 Avg HH Income (Esri 5-year projection) $134,665 $129,890 $133,844

2019 Median Household Income $103,599 $100,634 $100,350

2019 Per Capita Income $39,859 $35,976 $37,720

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024

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Sachse, Texas 75048

LOCAL TRAFFIC COUNTS

Distance (Miles) Street Cross-street Vehicles per day

.38 State Hwy 78 Hooper Rd 33,940

.47 State Hwy 78 Alanis Dr 27,500

.65 State Hwy 78 Sable Ln 35,000

1.19 FM 544 Woodbridge Pkwy 36,087

1.30 FM 544 Westgate Way 26,998

1.33 Country Club Rd Lakefield Dr 15,609

Source: Esri (Environmental Systems Research Institute)


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Sachse, Texas 75048

Tenants


In business since 2013, Express Store is a Verizon authorized retailer. We specialize in exceptional customer care and fast service – hence the “express” in Express Store. Serving both individuals and businesses of all sizes, we pride ourselves on our “white glove” customer service and our extensive knowledge on the best products and services Verizon Wireless has to offer. Through multiple conveniently located locations, we serve customers in the New York/ New Jersey and Dallas/Fort Worth areas.

At Great Clips, we’re proud of the work we’ve done to establish our great brand name and reputation for more than 35 years. Great Clips leads the industry with technology that makes it easy for customers to choose Great Clips, and gives franchisees the tools they need to operate their businesses—anywhere, anytime.

A retail chain selling health- & sports-related vitamins, supplements & herbs, plus drinks & snacks. This store is has everything you need no matter how you are trying to enhance your health. These include GNC protein powders, vitamins, GNC diet pills, sports nutrition, and energy products. Try out a GNC cleanse, or a GNC detox to get started!

Our salon provides a cozy environment, top hygiene and the latest in cosmetic nail care services. At Toplite nails, we want your nails to be healthy and beautiful.

Our team takes great pride in offering Sachse’s Woodbridge and surrounding communities exceptional dental care with a focus on patient comfort. While our office isn’t high-strung – we keep the atmosphere casual and relaxing – our attention to detail is very high. A self-proclaimed perfectionist, the doctor blends the art and science behind dentistry to help create the happy, healthy and vibrant smile you deserve. Our ultimate goal is to build relationships that last a lifetime, and we are dedicated to exceeding your highest expectations.

Massage Bliss & Cryo is a modern, state of the art therapeutic center. An array of services is offered for our clients' therapeutic needs. At Massage Bliss & Cryo we understand that each client is different and we will customize our treatments to fit you.

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Sachse, Texas 75048


FINANCIAL ANALYSIS — Summary

ANNUAL INCOME AND EXPENSE

2019 Estimate 2020 Projected

Gross Income………………….. $384,234 $400,843

Operating Expense………….. $105,962 $107,600

Net Operating Income…….. $278,272 $293,243

INVESTMENT SUMMARY

Purchase Price……………….. $4,700,000

Price Per SF…………………….. $468.36

CAP Rate…………………………. 6.24%

Subject Property

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Sachse, Texas 75048


FINANCIAL ANALYSIS — Income and Expense Detail

ANNUAL INCOME Yr 2019 Per SF Yr 2020 Per SF

Base Rent $272,567 $27.16 $276,989 $27.60

Real Estate Tax Reimbursements $ 81,906 $ 8.16 $ 83,544 $ 8.33

Insurance Reimbursements $ 5,700 $ .57 $ 5,700 $ .57

CAM Reimbursements $ 18,356 $ 1.83 $ 18,356 $ 1.83

Management Fee Reimbursements $ 3,300 $ .33 $ 13,849 $ 1.38

Administrative Fee $ 2,405 $ .24 $ 2,405 $ .24

Gross Income $384,234 $38.29 $400,843 $39.94

ANNUAL EXPENSE Yr 2019 Per SF Yr 2020 Per SF

Real Estate Taxes (2% annual increase) $ 81,906 $ 8.16 $ 83,544 $ 8.33

Insurance $ 5,700 $ .57 $ 5,700 $ .57

Water $ 3,900 $ .39 $ 3,900 $ .39

Electricity $ 720 $ .07 $ 720 $ .07

Waste Removal $ 2,700 $ .27 $ 2,700 $ .27

Fire Security $ 1,040 $ .10 $ 1,040 $ .10

Repairs & Maintenance $ 9,996 $ 1.00 $ 9,996 $ 1.00

Gross Expenses $105,962 $10.56 $107,600 $10.72

NET OPERATING INCOME $278,272 $27.73 $293,243 $29.22

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Sachse, Texas 75048

FINANCIAL ANALYSIS - Rent Roll (as of 8/8/2019)

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FINANCIAL ANALYSIS — Tenant Information (as of 8/2019)


Sachse, Texas 75048

Basic Tenant Information - 2019

Tenant Name Suite # Sq Ft %

of Total Sq Ft

Lease Start Lease End Annual Rent

(2019)

Avg Mthly Rent

(2019) PSF

Annual Recovery

(2019) PSF

Total Revenue

(2019)

% of Revenue

Verizon 100 1,969 19.62% 11/12/2017 4/30/2023 $63,008 $5,251 $32.00 $21,911 $11.13 $84,919 22.10%

Great Clips 200 1,125 11.21% 5/23/2017 5/31/2022 $28,125 $2,344 $25.00 $12,519 $11.13 $40,644 10.58%

GNC 300 1,201 11.97% 6/21/2017 6/30/2022 $31,226 $2,602 $26.00 $13,364 $11.13 $44,590 11.61%

Toplite 400 1,400 13.95% 1/16/2019 1/31/2024 $36,400 $3,033 $26.00 $15,579 $11.13 $51,979 13.53%

Rottman 500 2,100 20.93% 7/11/2017 7/31/2027 $54,075 $4,506 $25.75 $23,368 $11.13 $77,443 20.16%

Massage Bliss 600 2,240 22.32% 9/1/2017 8/31/2022 $59,733 $4,978 $26.67 $24,926 $11.13 $84,659 22.03%

10,035 100.00% $272,567 $22,714 $111,667 $384,234 100.00%

Basic Tenant Information - 2020 Projected

Tenant Name Suite # Sq Ft %

of Total Sq Ft

Lease Start Lease End Annual Rent

(2020)

Avg Mthly Rent

(2020) PSF

Annual Recovery

(2020) PSF

Total Revenue

(2019)

% of Revenue

Verizon 100 1,969 19.62% 11/12/2017 4/30/2023 $63,008 $5,251 $32.00 24,302 $12.34 $87,310 21.78%

Great Clips 200 1,125 11.21% 5/23/2017 5/31/2022 $28,125 $2,344 $25.00 13,885 $12.34 $42,010 10.48%

GNC 300 1,201 11.97% 6/21/2017 6/30/2022 $31,226 $2,602 $26.00 14,823 $12.34 $46,049 11.49%

Toplite 400 1,400 13.95% 1/16/2019 1/31/2024 $37,310 $3,109 $26.65 17,279 $12.34 $54,589 13.62%

Rottman 500 2,100 20.93% 7/11/2017 7/31/2027 $54,600 $4,550 $26.00 25,919 $12.34 $80,519 20.09%

Massage Bliss 600 2,240 22.32% 9/1/2017 8/31/2022 $62,720 $5,227 $28.00 27,647 $12.34 $90,367 22.54%

10,035 100.00% $276,989 $23,082 $123,854 $400,843 100.00%

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FINANCIAL ANALYSIS — Recovery Detail (as of 8/8/2019)


Sachse, Texas 75048

Estimated Recoveries - 2019 CAM Management Administrative Insurance Real Estate Taxes Total Recovery

Tenant Name Suite # Sq Ft % of Sq Ft

Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF

Verizon 100 1,969 19.62% $300 $0.15 $54 $0.03 $39 $0.02 $93 $0.05 $1,339 $0.68 $1,826 $0.93

Great Clips 200 1,125 11.21% $171 $0.15 $31 $0.03 $22 $0.02 $53 $0.05 $765 $0.68 $1,043 $0.93

GNC 300 1,201 11.97% $183 $0.15 $33 $0.03 $24 $0.02 $57 $0.05 $817 $0.68 $1,114 $0.93

Toplite 400 1,400 13.95% $213 $0.15 $38 $0.03 $28 $0.02 $66 $0.05 $952 $0.68 $1,298 $0.93

Rottman 500 2,100 20.93% $320 $0.15 $58 $0.03 $42 $0.02 $99 $0.05 $1,428 $0.68 $1,947 $0.93

Massage Bliss 600 2,240 22.32% $341 $0.15 $61 $0.03 $45 $0.02 $106 $0.05 $1,524 $0.68 $2,077 $0.93

10,035 $1,530 $275 $200 $475 $6,826 $9,306

2019 Recovery: $111,667

Estimated Recoveries - 2020 CAM Management Administrative Insurance Real Estate Taxes Total Recovery

Tenant Name Suite # Sq Ft % of Sq Ft

Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF

Verizon 100 1,969 19.62% $300 $0.15 $226 $0.12 $39 $0.02 $93 $0.05 $1,366 $0.69 $2,025 $1.03

Great Clips 200 1,125 11.21% $171 $0.15 $129 $0.12 $22 $0.02 $53 $0.05 $780 $0.69 $1,157 $1.03

GNC 300 1,201 11.97% $183 $0.15 $138 $0.12 $24 $0.02 $57 $0.05 $833 $0.69 $1,235 $1.03

Toplite 400 1,400 13.95% $213 $0.15 $161 $0.12 $28 $0.02 $66 $0.05 $971 $0.69 $1,440 $1.03

Rottman 500 2,100 20.93% $320 $0.15 $242 $0.12 $42 $0.02 $99 $0.05 $1,457 $0.69 $2,160 $1.03

Massage Bliss 600 2,240 22.32% $341 $0.15 $258 $0.12 $45 $0.02 $106 $0.05 $1,554 $0.69 $2,304 $1.03

10,035 $1,530 $1,154 $200 $475 $6,962 $10,321

2020 Recovery: $123,854

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FINANCIAL ANALYSIS — Base Rent Pro Forma


Sachse, Texas 75048

Total Square Footage = 10,035

TENANT / GURANTOR

SUITE SQ.FT. % of GLA 2019 2020 2021 2022 2023 2024 NOTES / Assumptions

Verizon [Express Store, Inc.]

100 1,969 19.62% $63,008 $63,008 $63,008 $63,008 $68,784 $69,309 renews 1/31/2023 @ market rate (assumes $35.20 rate)

Great Clips, Inc. [Kitty Paw, LLC]

200 1,125 11.21% $28,125 $28,125 $28,125 $30,586 $32,344 $32,344 renews 5/23/2022 @ $28.75 per rent roll

GNC [Fresco Investments, LLC]

300 1,201 11.97% $31,226 $31,226 $31,226 $32,787 $34,349 $34,349 renews 6/30/2022 @ $28.60 per rent roll

Toplite Nails [JM MGMT Investment, LLC]

400 1,400 13.95% $36,400 $37,310 $38,220 $39,130 $40,040 $44,044

rate increases 1/1/2020, 1/1/21, 1/1/2022, 1/1/2023 per rent roll; renews 12/31/23 at market (assumes $31.46 rate)

Sachse Family Dentistry [Travis Rottman, PLLC]

500 2,100 20.93% $54,075 $54,600 $55,650 $56,700 $56,700 $57,750 rate increases 7/1/2019 and 7/1/2012 per rent roll

Massage Bliss & Cryo [Massage Bliss Center, LLC]

600 2,240 22.32% $59,733 $62,720 $62,720 $64,213 $67,200 $67,200 rate increases 9/1/2019 & 9/1/2022

TOTALS 10,035 100% $272,567 $276,989 $278,949 $286,425 $299,416 $304,995

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Sachse, Texas 75048


Rent Comparables — Deliveries Past 12 Months

Location: 1125 FM 544—Westgate Shopping Center Land: 0.85 Acres

Type: Neighborhood Center GLA: 2,984 SF

Features: Pylon Sign Built: 2018 / 2019

Percent Leased: 100% CoStar Est Rent: $29-$35

Distance to Subject: 1.5 Miles

Location: 1015 N Murphy Rd—Shops at N Murphy Rd

Type: Storefront Retail / Office GLA: 7,812 SF

Features: Pylon Sign Built: 2018 / 2019

Percent Leased: 61.6% CoStar Est Rent: $20-$24


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Sachse, Texas 75048



Location: 396 S Highway 78

Type: Storefront GLA: 10,000 SF

Features: Frontage on Hwy 78 Built: 2018 / 2019



Location: 2900 Miles Rd—7-Eleven Land: 30.28 Acres

Type: Convenience Store GLA: 3,010 SF

Features: Frontage on 2990 Miles Rd Built: 2018 / 2019



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Sachse, Texas 75048



Location: 2811 W FM 544 Land: 0.49 Acres

Type: Freestanding GLA: 6,000 SF

Features: 150’ frontage on FM544 Built: 2018

Percent Leased: 0% CoStar Est Rent: $21


Location: 8110 Hwy 78—Specs Wine


Features: Frontage on Highway 78 Built: 2018



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Sachse, Texas 75048



Location: 807 Woodbridge Pkwy—Pet Supplies Plus Land: 0.90 Acres


Features: frontage on Woodbridge Pkwy Built: 2018



Location: 7340 State Highway 78 Land: 4.23 Acres


Features: 411’ frontage on Highway 78 Built: 2017 / 2018

Percent Leased: 100% Asking Rent: $23

Distance to Subject: .4 Miles

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Sachse, Texas 75048



Location: 400 S Highway 78—Chick-fil-A` Land: 0.90 Acres

Type: Fast Food GLA: 1,496 SF

Features: 40’ frontage on S Highway 78 Built: 2018



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Texas Real Estate Commission Information About Brokerage Services

WOODRIDGE OMMONS - LoopNet...sports nutrition, and energy products. Try out a GN cleanse, or a GN...

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