Actual Site
OFFERING MEMORANDUM
Andrew FallonExecutive Managing Director703.787.4733 | [email protected]
VERIZON WIRELESS CELLULAR SALES OF KNOXVILLE, INC.Bainbridge, GA
Sheree Strome, CCIMAssociate Director404.900.5629 | [email protected]
Michael BerkInvestment Sales Associate404.835.7666 | [email protected]
Asset SummaryNet Operating Income (NOI) $136,000.00
Rent/Month $11,333.33
Rent/SF $34.00
Rentable Square Feet 4,000+/- SF
Land Area 1.30+/- Acres
Tenant Cellular Sales of Georgia, LLC
Credit Rating S&P: BBB+
Stock Symbol Nasdaq: VZ
Guarantor Cellular Sales of Knoxville, Inc
Ownership Type Fee Simple
Lease Type NN
Landlord Responsibilities Roof & Structure
Year Built 2006
Lease Term Remaining 6+ Years
Rent Commencement August 1, 2018
Lease Expiration July 31, 2025
Increases 10% in Options
Options Two (2), Five (5) Year
Investment Highlights • Lease guaranty with Cellular Sales of Knoxville, Inc. • Structured 10% rent escalations in options • Destination retail location anchored by Walmart, Home Depot and
Tractor Supply • Interstate location off US-84 with traffic counts of 14,000 VPD • Verizon has prominent pylon signage, increasing visibility from US-84 • Brand new 7 year lease, commenced August 2018
Rent ScheduleTerm Increases Annual Rent Monthly Rent
8/1/2018 – 7/31/2025 - $136,000 $11,333.33
8/1/2025 – 7/31/2030 (Option 1) 10% $149,600 $12,466.67
8/1/2030 – 7/31/2035 (Option 2 ) 10% $164,560 $13,713.33
Asking Price$1,942,857
Cap Rate 7.00%
1402 Tallahassee HwyBainbridge, GA 39819
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Verizon Wireless | Financial Summary
Cellular Sales of Georgia d/b/a Verizon WirelessFor the past three years, Inc. Magazine has named Cellular Sales one of the nation’s fastest growing retail companies in the country.
• Founded in 1993 • Cellular Sales Tops 700 Stores • Located in 41 states • 5,200 nationwide employees
This year, Inc. magazine listed Cellular Sales at No. 72 on its list of the nation’s fastest growing companies according to gross dollars of growth. Cellular Sales was ranked No. 1,856 on the fourth annual overall list of the nation’s fastest growing companies (up from No. 2,069 last year). The “Inc. 5,000” represents a comprehensive look at America’s independent-minded entrepreneurs.
Growth for Cellular Sales this year was reported at 147 percent according to Inc. magazine. The magazine ranked Cellular Sales No. 96 on the “Inc. 5,000” list of the nation’s fastest-growing privately held retail companies. The magazine reported that Cellular Sales’ 2006 revenue of $127.9 million grew to $316.1 million last year.
For more information about Cellular Sales, visit the company’s web site www.cellularsales.com.
Tenant SnapshotTenant Snapshot
# of Locations 7,313+
Stock Symbol Nasdaq: VZ
Credit Rating S&P: BBB+
2017 Revenue $126Bil
Market Cap $245Bil
About Cellular Sales of Knoxville, Inc.Cellular Sales of Knoxville, Inc., was founded in Knoxville, TN in 1993 by University of Tennessee graduates, Dane and Meg Scism. The company is currently over 600 locations strong and growing. It is the nation’s largest Verizon premium retailer, and has been chosen by Inc. Magazine as one of the 5,000 fastest-growing private companies in the U.S. for the ninth time since 2008, as part of the publication’s annual Inc. 5000 list. Verizon Wireless is an American telecommunications company which offers wireless products and services. With 149 million subscribers as of October 2017, Verizon Wireless is the largest wireless telecommunications provider in the United States. It operates a national 4G LTE network covering about 98 percent of the U.S. population.
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Tenant Overview
Site Photos
84US
Calkain Companies | 4
Hollywood
Bainbridge, GA
Jacksonville, FLTallahassee, FL
Atlanta, GAMarietta, GA
Savannah, GA
Augusta, GABirmingham, AL
Albany, GA
Thomasville, GA
Panama City, FL
Subject Site
Tallahassee, FL 49 miles
Albany, GA 60 miles
Panama City 101 miles
Atlanta, GA 234 miles
Calkain Companies | 5
Location Overview
Distance To
Keep all map content (except background) above this margin for website cropping purposes
Tallahassee Hwy 10,000 VPD
US 84
14,00
0 VPD
Shopping Center
Subject Site
84US
84US
1402 Tallahassee Hwy | Bainbridge, GA 39819
Tallahassee Hwy 10,000 VPD
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Site Plan
3 Mile 5 Miles 10 MilesPopulation2018 Population 13,428 16,516 22,1882023 Population 13,115 16,145 21,7132018 Median Age 36.8 36.9 38.0
Households2018 Total Households 5,052 6,190 8,2082023 Total Households 4,934 6,050 8,034
Average Household Income2018 Average HH Income $49,754 $49,773 $50,5232023 Average HH Income $53,821 $53,941 $55,119
Population 16,516
Median Age 36.9
Total Businesses 848
Total Employees 8,531
5 Mile Radius | Demographics
Bainbridge
Location Overview, 1/3/5 Miles
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About UsCalkain Companies LLC is a boutique commercial real estate investment banking firm that provides consulting and brokerage services to both private and institutional clientele with a focus on single tenant net lease investments. We pride ourselves on being an innovative leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, debt and equity placement and wealth management.
Calkain has built solid, lasting relationships that have been the cornerstone of how we do business. Calkain approaches each assignment with an eye toward each client’s individual needs. Whether private or institutional investors, Calkain delivers real estate solutions that maximize value while building wealth for all of our clients.
At Calkain, our foresight and innovation are leading the net lease investment industry.
Building a solid foundation for your investment portfoliocalkain.com
Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) 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(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.
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