confidential offering memorandum · • cumulative traffic counts are approximately 23,000 -vpd •...

P R O P E R T Y

S H O P P E S A T M I N E O L A

L O C A T I O N

1 1 1 2 N . P A C I F I C S T R E E T

M I N E O L A , T E X A S 7 5 7 7 3

C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M

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 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 CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

CONFIDENT IAL I TY AND DISCLAIMER

1 E X E C U T I V E S U M M A R Y Offe r ing H igh l igh ts 5 I nves tm ent Overv iew 6

3 P R O P E R T Y O V E R V I E W Regiona l M ap 13 Loca l M ap 14 Aer ia l M ap 15 Aer ia l Photos 16

2 F I N A N C I A L O V E R V I E W F inanc in g & Expenses 8 I ncom e & Expenses 9 Tenan t Sum m ary 10 Lease Exp i rat i on Schedu l e 11

4 M A R K E T O V E R V I E W Dem ograph ic Data 18 Dem ograph ic Sum m ary 19

Y0410105 3

TABLE OF CONTENTS

EXECUTIVE SUMMARY 1

S U M M A R Y

P R I C E $ 2 , 1 2 6 , 0 0 0

C A P R A T E – C U R R E N T 8 . 0 0 %

N O I – C U R R E N T $ 1 7 0 , 0 7 5

P E R C E N T O C C U P I E D 1 0 0 %

G R O S S L E A S A B L E A R E A ( G L A ) ( S Q . F T . ) 1 4 , 6 1 0

P R I C E P E R S Q U A R E F O O T $ 1 4 5 . 5 2

L O T S I Z E ( A C R E S ) 1 . 5 9 7 8

Y E A R B U I L T 2 0 1 6

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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap 5

E X E C U T I V E S U M M A R Y

OFFER ING H IGHL IGHTS S H O P P E S A T M I N E O L A 1 1 1 2 N . P A C I F I C S T R E E T , M I N E O L A , T E X A S 7 5 7 7 3

D E M O G R A P H I C S 1 - M I L E 3 - M I L E S 5 - M I L E S

2 0 1 4 P O P U L A T I O N 3 , 2 9 6 6 , 6 4 8 9 , 4 0 2

2 0 1 9 P O P U L A T I O N 3 , 3 3 1 7 , 2 1 8 9 , 7 0 4

2 0 1 4 H O U S E H O L D S 1 , 3 2 2 2 , 7 5 0 3 , 6 7 8

2 0 1 9 H O U S E H O L D S 1 , 3 4 5 2 , 8 2 3 3 , 8 1 7

M E D I A N H H I N C O M E $ 3 6 , 5 5 9 $ 3 8 , 1 1 2 $ 3 9 , 0 2 8

P E R C A P I T A H H I N C O M E $ 2 1 , 2 0 2 $ 2 1 , 2 6 1 $ 2 1 , 6 6 1

A V E R A G E H H I N C O M E $ 5 1 , 5 6 9 $ 5 4 , 0 4 1 $ 5 4 , 8 8 8

• 100% Occupied, Newly Constructed Retail Strip

• 90% National Credit Tenants with New Long-Term Leases

• All Leases are Gross

• Large 1.6 Acre Lot with Newly Paved Parking Lot

• Located at the Signalized Intersection of N Pacific Street & Greenville Avenue

• Cumulative Traffic Counts are Approximately 23,000-VPD

• Mineola is Located 80 Miles East of Dallas and 25 Miles North of Tyler

• Designated as a "National Main Street City"

The Shoppes at Mineola is a newly constructed 14,610-square foot multi-

tenant retail strip center located in Mineola, Texas. The center is 100

percent leased with 90 percent of the GLA being national credit tenants.

Tenants consist of Dollar Tree, Hibbett Sports, and Envy Salon. All leases are

gross and have multiple renewal options. The building is situated on a 1.6

acre lot with ample paved parking.

The subject property is located on North Pacific Street at the signalized

intersection with Greenville Highway (U.S. 69). National and regional retailers

in the neighboring area include Stage, McDonald’s, Brookeshire’s grocery

store, Subway, Cash Store, Exxon, Pizza Hut, Met Life, and Jackson Hewitt Tax

Service. Mineola Civic Center and RV Park are located directly northeast of

the property. The five mile population is 9,400 with an average household

income of approximately $55,000.

Mineola is conveniently located between Dallas, Texas and Shreveport,

Louisiana on Highways 80 & 69. Mineola is 25 miles north of Tyler, 80 miles

east of Dallas and two hours west of Shreveport. The city is known as the

"Gateway to the Pines" and the "Birding Capital of East Texas". In 1989

Mineola was designated a "National Main Street City" and more than seven

million dollars, to date, has been spent renovating central business district

buildings.

E X E C U T I V E S U M M A R Y

INVESTMENT OVERVIEW


S H O P P E S A T M I N E O L A 1 1 1 2 N . P A C I F I C S T R E E T , M I N E O L A , T E X A S 7 5 7 7 3

FINANCIAL OVERVIEW 2

E X I S T I N G F I N A N C I N G

L O A N T Y P E F R E E A N D C L E A R

F I N A N C I A L O V E R V I E W

F INANCING & EXPENSES


E X P E N S E S C U R R E N T P E R S F

* R E A L E S T A T E T A X E S $ 1 8 , 3 1 1 $ 1 . 2 5

I N S U R A N C E $ 5 , 0 0 0 $ 0 . 3 4

C A M $ 3 , 5 0 0 $ 0 . 2 4

M A N A G E M E N T F E E $ 8 , 0 7 9 $ 0 . 5 5

T O T A L E X P E N S E S $ 3 4 , 8 9 0 $ 2 . 3 9


*CHAPTER 380 ECONOMIC DEVELOPMENT AGREEMENT IN PLACE. TAX ABATEMENT ON IMPROVEMENTS TO REAL PROPERTY WILL BE GRANTED TO QUALIFIED

BUSINESSES ON A SLIDING SCALE FOR A PERIOD OF SEVEN YEARS, AS FOLLOWS:

Y E A R V A L U E % T O B E A B A T E D

1 1 0 0 %

2 1 0 0 %

3 1 0 0 %

4 7 5 %

5 7 5 %

6 5 0 %

7 2 5 %


INCOME & EXPENSES


I N C O M E A N D E X P E N S E S C U R R E N T P E R S F

B A S E R E N T

O C C U P I E D S P A C E $ 2 0 4 , 9 6 5 $ 1 4 . 0 3

G R O S S P O T E N T I A L R E N T $ 2 0 4 , 9 6 5 $ 1 4 . 0 3

G R O S S P O T E N T I A L I N C O M E $ 2 0 4 , 9 6 5 $ 1 4 . 0 3

E F F E C T I V E G R O S S I N C O M E $ 2 0 4 , 9 6 5 $ 1 4 . 0 3

T O T A L E X P E N S E S $ 3 4 , 8 9 0 $ 2 . 3 9

N E T O P E R A T I N G I N C O M E $ 1 7 0 , 0 7 5 $ 1 1 . 6 4



TENANT SUMMARY

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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap 1 0

% LEASE TERM ANNUAL BASE RENT EXPENSES OPTIONS LEASE

TENANT NAME GLA GLA BEGIN END TOTAL PSF REIMBURSED TYPE

DOLLAR TREE 8,050 55.10% 8/01/2017 8/01/2024 $96,600.00 $12.00 3, 5 YEAR GROSS

HIBBETT SPORTS 5,060 34.63% 3/01/2017 3/01/2027 $77,165.00 $15.25 3, 5 YEAR GROSS

ENVY SALON 1,500 10.27% 3/15/2017 7/15/2022 $30,000.00 $20.00 5, 5 YEAR GROSS

ENVY SALON (SIGN FEE) 2/01/2017 12/31/2021 $1,200.00

TOTAL VACANT

TOTAL OCCUPIED 14,610 100.00% $204,965.00

TOTAL 14,610 100.00% $204,965.00



L EASE EXP IRAT ION SCHEDULE


YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10

FOR THE YEAR ENDING 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

TENANTS NAME ENVY SALON (SIGN FEE)

ENVY SALON

DOLLAR TREE

TOTAL NO. OF TENANTS 1 1 1

TOTAL SQ. FT. EXPIRING 1,500 8,050

TOTAL % 10.3% 55.1%

CUMULATIVE % EXPIRING 10.3% 65.4%


PROPERTY OVERVIEW 3

1 3

P R O P E R T Y O V E R V I E W

REGIONAL MAP

1 4


LOCAL MAP

1 5


AER IAL MAP

1 6


AER IAL PHOTO

MARKET OVERVIEW 4

M A R K E T O V E R V I E W

DEMOGRAPHIC DATA


P O P U L A T I O N 1 - M I L E 3 - M I L E S 5 - M I L E S

2 0 0 0 P O P U L A T I O N 3 , 3 8 4 6 , 6 4 8 8 , 4 2 8

2 0 1 0 P O P U L A T I O N 3 , 4 2 2 7 , 0 8 0 9 , 3 1 9

2 0 1 4 P O P U L A T I O N 3 , 3 9 6 7 , 0 7 3 9 , 4 0 2

2 0 1 9 P O P U L A T I O N 3 , 3 3 1 7 , 2 1 8 9 , 7 0 4

I N C O M E 1 - M I L E 3 - M I L E S 5 - M I L E S

$ 0 - $ 1 4 , 9 9 9 1 9 . 5 0 % 1 7 . 2 0 % 1 6 . 0 0 %

$ 1 5 , 0 0 0 - $ 2 4 , 9 9 9 1 3 . 1 0 % 1 5 . 1 0 % 1 6 . 1 0 %

$ 2 5 , 0 0 0 - $ 3 4 , 9 9 9 1 5 . 1 0 % 1 3 . 5 0 % 1 2 . 9 0 %

$ 3 5 , 0 0 0 - $ 4 9 , 9 9 9 1 6 . 0 0 % 1 5 . 0 0 % 1 4 . 7 0 %

$ 5 0 , 0 0 0 - $ 7 4 , 9 9 9 1 5 . 2 0 % 1 7 . 0 0 % 1 8 . 0 0 %

$ 7 5 , 0 0 0 - $ 9 9 , 9 9 9 7 . 4 0 % 9 . 0 0 % 9 . 6 0 %

$ 1 0 0 , 0 0 0 - $ 1 2 4 , 9 9 9 7 . 5 0 % 5 . 8 0 % 5 . 3 0 %

$ 1 2 5 , 0 0 0 - $ 1 4 9 , 9 9 9 2 . 3 0 % 2 . 8 0 % 2 . 7 0 %

$ 1 5 0 , 0 0 0 - $ 2 0 0 , 0 0 0 2 . 4 0 % 2 . 6 0 % 2 . 8 0 %

$ 2 0 0 , 0 0 0 - $ 2 4 9 , 9 9 9 0 . 9 0 % 0 . 9 0 % 0 . 8 0 %

$ 2 5 0 , 0 0 0 + 0 . 6 0 % 1 . 0 0 % 1 . 1 0 %

2 0 1 4 M E D I A N H H I N C O M E $ 3 6 , 5 5 9 $ 3 8 , 1 1 2 $ 3 9 , 0 2 8

2 0 1 4 P E R C A P I T A I N C O M E $ 2 1 , 2 0 2 $ 2 1 , 2 6 1 $ 2 1 , 6 6 1

2 0 1 4 A V E R A G E H H I N C O M E $ 5 1 , 5 6 9 $ 5 4 , 0 4 1 $ 5 4 , 8 8 8

H O U S E H O L D S 1 - M I L E 3 - M I L E S 5 - M I L E S

2 0 0 0 H O U S E H O L D S 1 , 3 5 3 2 , 5 9 5 3 , 3 1 0

2 0 1 0 H O U S E H O L D S 1 , 3 8 4 2 , 7 6 9 3 , 6 6 0

2 0 1 4 H O U S E H O L D S 1 , 3 2 2 2 , 7 5 0 3 , 6 7 8

2 0 1 9 H O U S E H O L D S 1 , 3 4 5 2 , 8 2 3 3 , 8 1 7

2 0 1 4 A V E R A G E H H S I Z E 2 . 3 0 2 . 5 1 2 . 5 2

2 0 1 4 D A Y T I M E P O P U L A T I O N 1 , 7 9 3 2 , 8 7 1 3 , 1 1 5

2 0 0 0 O W N E R O C C U P I E D 6 0 . 4 7 % 6 4 . 1 6 % 6 6 . 4 5 %

2 0 0 0 R E N T E R O C C U P I E D 2 9 . 5 8 % 2 4 . 5 1 % 2 1 . 6 1 %

2 0 0 0 V A C A N T 9 . 9 5 % 1 1 . 3 3 % 1 1 . 9 5 %

2 0 1 4 O W N E R O C C U P I E D 6 6 . 8 2 % 7 1 . 9 0 % 7 5 . 1 3 %

2 0 1 4 R E N T E R O C C U P I E D 3 3 . 1 8 % 2 8 . 1 0 % 2 4 . 8 7 %

2 0 1 4 V A C A N T 1 1 . 4 3 % 1 1 . 4 1 % 1 1 . 7 2 %

2 0 1 9 O W N E R O C C U P I E D 6 6 . 7 9 % 7 2 . 0 8 % 7 5 . 3 4 %

2 0 1 9 R E N T E R O C C U P I E D 3 3 . 2 1 % 2 7 . 9 2 % 2 4 . 6 6 %

2 0 1 9 V A C A N T 1 1 . 4 3 % 1 1 . 4 1 % 1 1 . 7 2 %


RACE & ETHNICITY

The current year racial makeup of your selected area is as follows: 83.48% White, 6.37% Black, 0.03% Native American and 0.72% Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 14.90% of the current year population in your selected area. Compare this to the Entire US average of 17.13%. HOUSING

In 2000, there were 2,497 owner occupied housing units in your area and there were 812 renter occupied housing units in your area. The median rent at the time was $387. EMPLOYMENT

In 2014, there are 3,115 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 50.98% of employees are employed in white-collar occupations in this geography, and 48.96% are employed in blue-collar occupations. In 2014, unemployment in this area is 5.68%. In 2000, the average time traveled to work was 30.5 minutes.

POPULATION

In 2014, the population in your selected geography is 9,401. The population has changed by 11.54% since 2000. It is estimated that the population in your area will be 9,703 five years from now, which represents a change of 3.21% from the current year. The current population is 48.20% male and 51.79% female. The median age of the population in your area is 43.5, compare this to the Entire US average which is 37.3. The population density in your area is 119.72 people per square mile.

HOUSEHOLDS

There are currently 3,678 households in your selected geography. The number of households has changed by 11.13% since 2000. It is estimated that the number of households in your area will be 3,817 five years from now, which represents a change of 3.79% from the current year. The average household size in your area is 2.52 persons.

INCOME

In 2014, the median household income for your selected geography is $39,028, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 20.36% since 2000. It is estimated that the median household income in your area will be $47,398 five years from now, which represents a change of 21.44% from the current year. The current year per capita income in your area is $21,660, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $54,888, compare this to the Entire US average which is $74,533.

G E O G R A P H Y : 5 - M I L E R A D I U S

M A R K E T O V E R V I E W

DEMOGRAPHIC SUMMARY



INFO

RMA

TIO

N A

BOU

T

BRO

KERA

GE

SERV

ICES

P H I L I P L E V Y

8 1 7 - 9 3 2 - 6 1 2 3 O F F I C E 8 1 7 - 3 8 0 - 1 1 5 3 F A X P H I L I P . L E V Y @ M A R C U S M I L L I C H A P . C O M L I C E N S E : T X 0 5 2 2 0 8 7

F O R T W O R T H O F F I C E S e n i o r M a n a g i n g D i r e c t o r

Y0410105

confidential offering memorandum · • cumulative traffic counts are approximately 23,000 -vpd •...

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