PDF RAPID CASH - Constant Contact

[Pages:9]RAPID CASH

2332 Civic Center - NORTH LAS VEGAS, NV 89030

OFFERING MEMORANDUM

ACTUAL PROPERTY

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 ? 2016 Marcus & Millichap. Activity ID: Y0332015

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Financial Overview

2332 Civic Center - NORTH LAS VEGAS, NV 89030

OFFERING SUMMARY

PRICE

$1,125,819

CAP RATE

7.00%

NOI

$78,807

PRICE PER SQUARE FOOT $450.33

RENT PER SQUARE FOOT $31.52

YEAR BUILT

1964

APPROXIMATE LOT SIZE

0.38 Acres

GROSS LEASEABLE AREA 2,500

TYPE OF OWNERSHIP

Fee Simple

LEASE GUARANTOR

Advance Group, Incorporated

LEASE TYPE

Triple-Net (NNN)

ROOF AND STRUCTURE Tenant Responsible

ACTUAL PROPERTY

LEASE SUMMARY

LEASE COMMENCEMENT DATE

6/1/2011

LEASE EXPIRATION DATE 2/28/2023

LEASE TERM

5 Years

TERM REMAINING

5 Years

INCREASES

3% Annually

OPTIONS TO RENEW

2, 5-Year

ANNUALIZED OPERATING DATA

Base Rent

Annual Rent Monthly Rent

3/1/2017

2/28/2017

$78,807

$6,567

3/1/2018

2/28/2019

$81,171

$6,764

3%

3/1/2019

2/29/2020

$83,606

$6,967

3%

3/1/2020

2/28/2021

$86,115

$7,176

3%

3/1/2021

2/28/2022

$88,698

$7,391

3%

3/1/2022

2/28/2023

$91,359

$7,613

3%

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 ? 2016 Marcus & Millichap. Activity ID: Y0332015

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Investment Overview

2332 Civic Center - NORTH LAS VEGAS, NV 89030

Marcus & Millichap is pleased to present this 2,500-square foot Rapid Cash in North Las Vegas, the fourth largest city in Nevada. Rapid Cash signed a five-year lease in 2011, and then executed a 10-year extension early in 2013. There are currently more than five years remaining on a triple-net (NNN) lease with zero landlord responsibilities and 3 percent annual rent increases. This lease is guaranteed by Advance Group, Incorporated, a wholly owned subsidiary of Speedy Cash Holdings Corp.

This asset is located at the signalized, hard corner of Civic Center Drive and East Carey Avenue, which sees more than 28,000 vehicles per day (VPD). Rapid Cash benefits from its strategic location in an already dense and rapidly growing market. There are currently more than 491,000 residents within five miles, which represents a 9 percent increase in the population since 2010. The projected population growth from 2017 to 2022 is 8 percent. In response to such rapid growth, the city of North Las Vegas has more than $215 million in active permits. The Vegas Trade Village is a $30 million mixed-use center featuring a 120-room hotel and ground floor retail. The Craig Road Industrial Project is a $67 million project that will feature 125,000 square feet of warehouse space. The Charleston Apartments project is a $24 million development that will feature 45 residential units, 42-car garage, and ground floor retail.

Additional retailers in the immediate vicinity include: Walgreens, Sprint, CVS, Taco Bell, Starbucks, Wells Fargo, Taco Bell, Pizza Hut, U.S. Bank, Burger King, Bank of America, Pep Boys, DaVita, Dollar General, Checkers, Jack in the Box, and many more.

? Rapid Cash in North Las Vegas, Nevada | The Fourth Largest City in the State

? More Than Five Years Remaining on a Triple Net (NNN) Lease | Zero Landlord Responsibilities

? Inflation Hedge | 3 Percent Annual Rent Increases

? Corporate Guaranty | Advance Group, Incorporated | Wholly Owned Subsidiary of Speedy Cash Holding Corp

? Tenant Demonstrates Commitment | Executed 10-Year Extension Two Years into an Original Five-Year Lease | Two, Five-Year Extension Options Remain

? Signalized Hard Corner Location on the Intersection of Civic Center Drive and East Carey Avenue | More Than 28,000 Vehicles Per Day (VPD)

? More Than $215 Million in Active Permits in North Las Vegas | Major Projects: Centra Craig Corporate Center ($80 Million), Craig Road Industrial ($67 Million), Vegas Trade Village ($30 Million), and the Charleston Apartments ($24 Million)

? Nearby North Las Vegas Airport | Second-Busiest Airport in Las Vegas and Thirdbusiest in the State

? Asset Benefits from Dense Demographics | More Than 491,000 Residents within the Five-Mile Radius | 9 Percent Population Increase Since 2010

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 ? 2016 Marcus & Millichap. Activity ID: Y0332015

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Tenant Overview - Rapid Cash

2332 Civic Center - NORTH LAS VEGAS, NV 89030

Founded in 1997, Speedy Cash Holdings Corp, is a leading provider of alternative financial services focused on serving unbanked and underbanked consumers who require convenient and immediate access to cash and related services in the United States, the United Kingdom, and Canada. Speedy Cash serves its customers through 420 retail storefront locations. Speedy Cash has also developed an innovative online service that allows customers to quickly and conveniently access Speedy Cash's products and services in 25 states in the United States, in five Canadian provinces, and in the United Kingdom. Speedy Cash provides single-pay loans, installment loans and open-end loans (referred to as bankline loans), vehicle title loans, check cashing, gold buying, money transfer services, reloadable prepaid debit cards and a number of other ancillary financial products and services to its customers. Speedy Cash operates under two principal brands in the United States as either Speedy Cash or Rapid Cash, in the United Kingdom as Speedy Cash and Wage Day Advance, and in Canada as Cash Money and, beginning in 2016, as LendDirect.

ACTUAL PROPERTY TENANT PROFILE TENANT TRADE NAME Rapid Cash Subsidiary of a Speedy OWNERSHIP Cash Holdings Corp TENANT Advance Group, Incorporated LEASE GUARANTOR Advance Group, Incorporated NUMBER OF LOCATIONS 420 Locations HEADQUARTERED Wichita, Kansas

WEB SITE

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 ? 2016 Marcus & Millichap. Activity ID: Y0332015

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Aerial Overview

2332 Civic Center - NORTH LAS VEGAS, NV 89030

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 ? 2016 Marcus & Millichap. Activity ID: Y0332015

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Area Overview & Demographics

2332 Civic Center - NORTH LAS VEGAS, NV 89030

Population 2000 Population 2010 Population 2017 Population 2022 Population

1-Mile 3-Mile 5-Mile

31,307 28,731 29,910 32,199

178,683 186,197 200,141 216,315

392,893 451,899 491,127 532,102

Households 2000 Households 2010 Households 2017 Households 2022 Households

1-Mile

7,952 6,960 7,347 7,922

3-Mile 5-Mile

53,415 52,635 56,571 61,182

129,126 141,120 154,099 167,086

1-Mile

Household (HH) Incomes

2017 Average HH Income $35,058

2017 Median HH Income $26,961

2017 Per Capita Income

$8,612

3-Mile 5-Mile

$40,065 $50,895 $29,850 $37,167 $11,325 $15,969

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 ? 2016 Marcus & Millichap. Activity ID: Y0332015

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Market Overview - North Las Vegas, NV

2332 Civic Center - NORTH LAS VEGAS, NV 89030

North Las Vegas is a city located in Clark County, Nevada. Neighboring communities include the city of Las Vegas and the township of Paradise, encompassing the Las Vegas Strip and McCarran International Airport.

The City of North Las Vegas is proud of its longstanding tradition of maintaining a business-friendly atmosphere. North Las Vegas is paving the way to become a premier site for green sustainable industries and high-tech businesses. The City also fosters a positive environment for new small businesses and entrepreneurial endeavors. North Las Vegas continues to see major growth among home-based businesses and independent startups, as diverse as grocery stores and fashion shops to restaurants and classic car boutiques.

The city offers a wealth of resources for existing and prospective businesses, including strong community partnerships with agencies such as Las Vegas Metro, the Chamber of Commerce, and the Las Vegas Global Alliance. North Las Vegas has also been working on comprehensive growth. A primary goal of the city's economic development division is to create development opportunities for large-scale industrial projects in specific locales. Those areas include the Apex Industrial Park, Speedway Industrial Park, the 150 acres for planned medical and research and in-fill areas like the Craig Road Corridor, according to Gina Gavan, director of economic development. The target sectors for the region include warehouse and distribution, integrated and assembly manufacturing, medical, clean energy, advanced technologies and artificial intelligence

North Las Vegas also boasts proximity to major transportation corridors, railways, and two airports. This gives North Las Vegas businesses easy access to large and growing markets across the Western United States, including California, Arizona and Utah.

With a population of about two million, the Las Vegas Valley region represents a rich network of people from all over the world, who have chosen to make Las Vegas Valley their home. It continues to evolve with new cultural offerings and highlights that simply cannot be found anywhere else.

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 ? 2016 Marcus & Millichap. Activity ID: Y0332015

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Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The infor mation contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer 's responsibility to independently confir m the accuracy and completeness of all material infor mation before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future perfor mance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer's tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer's legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant's past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant's projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the cur rent tenant should default or abandon the property, and the lease ter ms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer 's legal ability to make alter nate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

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