9
OFFICE: 662.234.4044 // 850 INSIGHT PARK AVE. UNIVERSITY, MS 38677 // RANDALLCOMMERCIALGROUP.COM BRIAN PHILLIPS, CCIM ELIZABETH RANDALL, CCIM 662.638.0722 662.234.4043 [email protected] [email protected] PRESENTED BY // BRAND-NEW, BRICK DOLLAR GENERAL | STARKVILLE, MS (MISSISSIPPI STATE UNIVERSITY) FOR SALE // $1,883,011 // 6.15% CAP RATE // RETAIL PROPERTY RAND RANDALL CO ALL COMMER MMERCIAL GR CIAL GROUP UP, LLC , LLC INVESTMENT REAL ESTATE OPTIMIZED

RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

  • Upload
    others

  • View
    0

  • Download
    0

Embed Size (px)

Citation preview

Page 1: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

B R I A N P H I L L I P S , C C I M E L I Z A B E T H R A N D A L L , C C I M6 6 2 . 6 3 8 . 0 7 2 2 6 6 2 . 2 3 4 . 4 0 4 3

B P H I L L I P S @ R A N D A L L C G . C O M E R A N D A L L @ R A N D A L L C G . C O M

P R E S E N T E D B Y / /

B R A N D - N E W , B R I C K D O L L A R G E N E R A L | S T A R K V I L L E , M S ( M I S S I S S I P P I S T A T E U N I V E R S I T Y )

FOR SALE // $1 ,883 ,011 // 6 .15% CAP RATE //RETA IL PROPERTY

RANDRANDALL COALL COMMERMMERCIAL GRCIAL GROOUPUP, LLC, LLCI N V E S T M E N T R E A L E S TAT E OP T I M I Z E D

Page 2: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

F O R S A L E / / R E T A I L P R O P E R T Y PP AA G E 2G E 2

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

DD I S C L A I M E R / T E R M S OI S C L A I M E R / T E R M S O F U S E F OF U S E F O R OR O F F E R I NF F E R I N G M E MG M E M OO R A N DR A N D U MU M / O/ O W N E R -W N E R - AA G E NG E N C Y DC Y D I S C L O S U R EI S C L O S U R E

The information provided within this Offering Memorandum has been obtained from sources that are believed to be reliable, but Randall Commercial Group, LLChas not verified the information and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Theinformation may be estimated or generalized and is prepared to provide a summary of highlights and only a preliminary level of information regarding the project. Anyinterested party must independently investigate the subject property, particularly from a physical, financial, tenant, and overall development standpoint. Anyprojections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. This information isnot intended to provide full due diligence on the subject property, as it is the responsibility of the interested buyer to conduct full due diligence with their advisors.The data contained within this offering memorandum is for information purposes only and is not sufficient for evaluation of Property for potential purchase.

Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future financialperformance. Furthermore, no due diligence has been performed regarding the financial condition or future plans for this location. You and your advisors shouldconduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. This information may havechanged and there may be omissions of material data as this is not intended to provide complete due diligence.

Past, expected or projected performance does not guarantee future performance. Property owners and/or buyers bear the full risk and exposure of all business,events, tenant, credit, and liability associated with such properties. The acreage, size, and square footage of the property and improvements are estimated andshould be independently verified. Inherent risk and concentrated exposure are associated with single tenant occupied properties and prospective buyer should fullyinvestigate tenant, lease, market, and all relevant aspects of this property, tenant, and transaction. Unless a fully executed purchase and sale agreement has beenexecuted, seller and Randall Commercial Group, LLC expressly reserves the right, at their sole discretion, to reject any and all expressions and/or interests or offersto purchase the property and to terminate negotiations and discussions with any person or entity reviewing this offering memorandum or making an offer on propertyunless a purchase and sale agreement of property has been executed and delivered.

In no event shall prospective purchaser or its agent have any claims against Seller or Randall Commercial Group, LLC or any of its affiliates, directors, offices,owners, agents, or licensees for any damages, liability, or any cause of action relating to this solicitation process, the marketing material, marketing process, or saleof property. By reviewing the material contained herein, you are agreeing to the terms and limitations of its use provided herein.

Owner-Agency Disclosure: An owner/agency relationship exists with an Associate Broker of Randall Commercial Group, LLC and the owner of Subject Propertylocated at 1818 S. Montgomery St., Starkville, MS. The Associate Broker has an ownership interest in the Subject Property located at 1818 S. Montgomery St.Starkville, MS and other business with the Manager of the ownership entity.

DISCLAIMER//

Page 3: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

F O R S A L E / / R E T A I L P R O P E R T Y PP AA G E 3G E 3

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

L E A S E S U M M A RL E A S E S U M M A R YY

TENANT: Dolgencorp, LLC d/b/a Dollar General

LEASE TYPE: NNN

PRIMARY LEASE TERM: 15-years

ANNUAL RENT: $115,805.16

RENT PSF: $12.83

BLDG. DELIVERY DATE: May 21, 2020

RENT COMM. DATE: May 27, 2020

RENEWAL OPTIONS: Five (5), Five (5) Year Options

RENT BUMPS: 10% per Option

LEASE GUARANTOR: Dollar General Corporation

I N V E S T M E N T S U M M A RI N V E S T M E N T S U M M A R YY

OFFERING PRICE: $1,883,011

NET OPERATING INCOME: $115,805

OFFERING CAP RATE: 6.15%

YEAR BUILT: 2020

BUILDING SIZE: 9,026 SF

LOT SIZE: 1.48 Acres

PROPERTY ADDRESS 1818 S. Montgomery Street

CITY, STATE, ZIP: Starkville, MS 39759

3 MILE POPULATION: 4,966

L O C AL O C AT IT I OO N DN D E S C R I P T IE S C R I P T I OO N | S TN | S TA R K V I L L E , M SA R K V I L L E , M S

The Starkville Dollar General is located just south of the Starkville Country Club on SouthMontgomery Street, one of Starkville's main thoroughfares. The Subject Property is actuallyjust outside the city limits, but it is in close proximity to upscale residential neighborhoodsincluding Starkville's newest traditional neighborhood development, the Adelaide. Starkville ishome to Mississippi State University, an SEC university.

INVESTMENT SUMMARY//

Page 4: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

F O R S A L E / / R E T A I L P R O P E R T Y PP AA G E 4G E 4

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

L O C AL O C AT IT I OO N I N F ON I N F O R M AR M AT IT I OO NN

BUILDING NAME Brand-New, Brick Dollar General | Starkville,MS (Mississippi State University)

STREET ADDRESS 1818 S. Montgomery Street

CITY, STATE, ZIP Starkville, MS 39759

COUNTY Oktibbeha

SIGNAL INTERSECTION No

NEAREST HIGHWAY Highway 25, Highway 12, and Highway 82

NEAREST AIRPORT George M Bryan Airport

B U I L DB U I L D I NI N G I N F OG I N F O R M AR M AT IT I OO NN

NOI $115,805.16

CAP RATE 6.15%

OCCUPANCY % 100.0%

TENANCY Single

NUMBER OF FLOORS 1

YEAR BUILT 2020

CONSTRUCTION STATUS Under construction

CONDITION Excellent

ROOF Standing Seam Metal Roof - GavalumeFinish

FREE STANDING Yes

NUMBER OF BUILDINGS 1

COMPLETE HIGHLIGHTS//

Page 5: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

F O R S A L E / / R E T A I L P R O P E R T Y PP AA G E 5G E 5

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

AERIAL MAPS//

Page 6: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

F O R S A L E / / R E T A I L P R O P E R T Y PP AA G E 6G E 6

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

SITE PLAN//

Page 7: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

F O R S A L E / / R E T A I L P R O P E R T Y PP AA G E 7G E 7

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

DD E ME M O G R A PO G R A P H IH I C S (C S ( 2 0 1 92 0 1 9 )) 1 M I L E1 M I L E 3 M I L E S3 M I L E S 5 M I L E S5 M I L E S

TOTAL POPULATION 573 11,889 36,844

HOUSEHOLDS 218 4,966 14,522

FAMILIES 123 2,592 6,820

AVERAGE HH SIZE 2.15 2.22 2.23

MEDIAN AGE 24.8 27.7 25.5

MEDIAN HH INCOME $38,987 $36,450 $33,247

AVERAGE HH INCOME $64,204 $63,608 $54,155

* Demographic data derived from Site to Do Business/Esri

DEMOGRAPHICS MAP & REPORT//

Page 8: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

F O R S A L E / / R E T A I L P R O P E R T Y PP AA G E 8G E 8

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

TENANT PROFILE//

Page 9: RANDALL COMMERCIAL GROUP, LLC...Randall Commercial Group, LLC has not performed due diligence pertaining to the physical state of the property nor the property’s current or future

O F F I C E : 6 6 2 . 2 3 4 . 4 0 4 4 / / 8 5 0 I N S I G H T P A R K A V E . U N I V E R S I T Y , M S 3 8 6 7 7 / / R A N D A L L C O M M E R C I A L G R O U P . C O M

RANDRANDALL COALL COMMERMMERCIAL GRCIAL GROOUPUP, LLC, LLCP R E S E N T E D B Y / /

BRIAN PHILL IPS , CCIMPR INCIPAL BROKER6 6 2 . 6 3 8 . 0 7 2 2BPHILL [email protected]

ELIZABETH RANDALL , CCIMPRES IDENT , ASSOCIATE BROKER6 6 2 . 2 3 4 . 4 0 4 [email protected]

ABOABOUT RANDUT RANDALL COALL COMMERMMERCIAL GRCIAL GROOUPUP, LLC, LLCRandall Commercial Group, LLC is a boutique commercial real estate investment brokerage and consulting firm focused on properties and developmentopportunities in the southeastern United States for clients located throughout the country. Through a myriad of brokerage services, we serve institutionaland individual investors as well as end users, tenant, and developers on deals ranging up to $50 million in estimated market value.

Our proprietary research, continual education, creativity, and perseverance allow us to focus on creating client wealth by optimizing real estate strategiesfor businesses and investors while building meaningful, long-term relationships. The majority of our business results from expanding our clientrelationships and referrals from clients and peers. We believe the reward for hard work well done is the opportunity to do more of it; for this, we thank youfor your trust and belief in our methodology.

Our corporate strategy is simple: client first. We do not desire to be all things to all clients, but we are singularly focused on being all things investmentreal estate.

RANDRANDALL COALL COMMERMMERCIAL GRCIAL GROOUPUP, LLC, LLCI N V E S T M E N T R E A L E S TAT E OP T I M I Z E D