Offering Memorandum Orange City Town Center

[Pages:54]Orange City Town Center

Orange City, FL

Offering Memorandum

Confidentiality Agreement

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap Real Estate Investment Services of Florida, Inc. ("Marcus & Millichap") and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Non-Endorsement Notice

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

Orange City Town Center

ORANGE CIT Y, FL

Presented by:

OFFICES NATIONWIDE



Nicholas Ledvora, CCIM

Senior Associate National Retail Group TAMPA OFFICE Tel: (813) 387-4845 Fax: (407) 926-0808 NLedvora@

Chad Atwood

Associate National Retail Group JACKSONVILLE OFFICE Tel: (904) 672-1430 Fax: (904) 672-1410 CAtwood@

John Graves

Associate National Retail Group ORLANDO OFFICE Tel: (407) 557-3825 Fax: (407) 926-0808 JGraves@

Orange City Town Center

Table of Contents

EXECUTIVE SUMMARY Offering Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-3

PROPERTY DESCRIPTION Investment Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Property Features . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Property Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Building and Property Overview . . . . . . . . . . . . . . . . . . . . . . 9 Financial Overview and Loan Assumptions . . . . . . . . . . . . 10 Tenant Interiors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Property Photos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12-13 Architectural Drawing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Floor Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Parcel Bird's Eye Aerial . . . . . . . . . . . . . . . . . . . . . . . . . 16-17 Medial Park Aerial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Florida Hospital | Fish Memorial . . . . . . . . . . . . . . . . . . . . . 19 Retail Competition Aerial . . . . . . . . . . . . . . . . . . . . . . . . . . 20

FINANCIAL ANALYSIS Financial Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Rent Roll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Operating Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Loan Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Loan Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

RENT COMPARABLES Rent Comparables Map . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Average Occupancy and Average Rent/SF . . . . . . . . . . . . 33 Rent Comparables . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34-39

DEMOGRAPHICS Demographic Summary . . . . . . . . . . . . . . . . . . . . . . . . 42-43 Population Density . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Employment Density . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Average Household Income . . . . . . . . . . . . . . . . . . . . . . . . 46 Traffic Counts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

summary EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

Orange City Town Center

EXECUTIVE SUMMARY

PROPERTY DESCRIPTION

FINANCIAL ANALYSIS

PROPERTY

Orange City Town Center 2751 Enterprise Road Orange City, FL 32763

OFFERING SUMMARY

Price Down Payment Total Rentable Square Feet Price Per Square Foot Year Built Lot Size

VITAL DATA

CAP Rate Net Operating Income Net Cash Flow After Debt Service Total Return

$4,835,000 25% / $1,208,750

35,250 $137.16

2007 ? 3.16 Acres

7.61% $367,938 10.43% / $126,067 17.08% / $206,400

MAJOR TENANTS

Tenant Name

GLA

Oodles Consignment

3,600

Catalog Solutions

3,300

USD & MMA Fitness

3,300

State Farm Insurance 2,400

Watts Chiropractic

2,150

* Tenant buildout currently underway

Lease Exp Lease Type

12/31/2018 NNN

2021*

NNN

3/30/2020

NNN

9/30/2018

NNN

10/31/2020 NNN

MAJOR EMPLOYERS Company

Florida Hospital - Fish Memorial Sun Communities John Knox Village Central Florida John Knox Village Medical Center Publix

Employees 975 747 475 400 281

DEMOGRAPHICS

2014 Total Population 2014 Total Households 2014 Daytime Population Per Capita Income Average HH Income

1-Mile 6,101 2,521 3,714

$25,566 $61,257

3-Miles 49,987 20,482 14,613 $21,794 $52,881

5-Miles 92,100 36,087 21,537 $21,382 $54,333

2

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Florida ? 2015

Marcus & Millichap. All rights reserved. X0250014

COMPARABLES

DEMOGRAPHIC ANALYSIS

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