cynthiana sales package
TRANSCRIPT
Retail Investment
Offering Memorandum:
Cynthiana Shoppes
809 US Hwy 127 S
Cynthiana, KY 41031
$1,675,000
Equity Management Group, Inc.
840 East High St.
Lexington, KY 40502
CONFIDENTIALITY AGREEMENT
The material contained in this Offering Memorandum is confidential, furnished solely for the purpose ofconsidering the acquisition of 809 US Highway 127 in Cynthiana, Kentucky (the “Property”) described herein and is not to be used for any other purpose or made available to any other person without the express written consent of Equity Management Group, Inc. (the “Broker”) or Seller. Broker is acting on behalf of Seller as exclusive agent in connection with the sale of the Property. By your receipt of this Offering Memorandum, you agree that this memorandum and the information contained herein are of a confidential nature and that you will hold and treat them in the strictest of confidence and will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or any part of the contents. Further, you agree not to discuss this Offering Memorandum with any other institution,prospective purchaser or tenant without the express permission of Broker and Seller. The material contained herein is based primarily upon information obtained from the Seller, and although representatives of the Seller have reviewed this Offering Memorandum, it does not purport to be all-inclusive or contain all of the information prospective purchasers may desire. Both Seller and Broker disclaim any liability which may be based on such information, errors therein or omissions therefrom. Prospective purchasers should make their own investigations, projections, and conclusions and are expected to conduct their own independent due diligence concerning the Property, including such engineering inspections as they deem necessary to determine the condition of the Property and the existence or absence of any potentially hazardous material used in the construction or maintenance of the building or located at the land site. No representations expressed or implied are made as to the foregoing matters by Broker or assignees.
Jason J. Taylor
(859) 266-1414 (Office)
(502) 472-7546 (Mobile)
OFFERING SUMMARY
Equity Management Group, Inc.
is pleased to offer to prospective investors the opportunity to purchase Cynthiana Shoppes (the “Property”), located in the heart of Cynthiana, Kentucky. Cynthiana Shoppes is a 9,142 square foot retail center located along the busiest and most condensed retail corridor in Harrison County, Kentucky.
The Property enjoys the highest traffic counts in the market. It is shadow anchored by Walmart. In addition to Cynthiana Shoppes, this retail corridor is home to national retailers including Tractor Supply Co., O’Reilly Auto Parts, Rite Aid, CATO, Pizza Hut, Circle K, Taco Bell, Fifth Third Bank, Dollar General, AT&T, Subway, Save A Lot, Lee’s Famous Recipe, KFC, and Hardee’s, among others.
The Property is comprised of a single-building of Class-A caliber that was constructed in 2010. The Property is 100% leased to a robust mix of three service-based national and local tenants with long-term leases.
Cynthiana Shoppes is anchored by two national tenants, The Cellular Connection, the largest Verizon wireless retailer and Shoe Sensation. Italso home to White, Greer, & Maggard Orthodontics, a regional dental office based out of Lexington, KY.
Cynthiana Shoppes represents an excellent opportunity for investors to acquire property with long-term, stable cash flow in Cynthiana, Kentucky. The subject of this offering is the fee simple interest in 9,142 square feet of gross leasable area sited on approximately 0.917 acres.
Asking Price: REDUCED to $1,675,000 Jason J. Taylor
(859) 266-1414 (Office)
(502) 472-7546 (Mobile)
OFFERING SUMMARY
SUMMARY
PRICE: $1,675,000
Gross Leasable Area: 9,142 SF
Occupancy: 100%
NOI: $113,721
CAP Rate: 6.78%
Year Built: 2010
Lot Size: 0.917 acres
Parking: Abundant
Foundation: Concrete
Exterior: Brick, Metal, EIFS
Roof – Transferable Warranty: No
Jason J. Taylor
(859) 266-1414 (Office)
(502) 472-7546 (Mobile)
PROPERTY SITE PLAN
*Property lines are approximate for illustration purposes
PROPERTY AERIAL
*Property lines are approximate for illustration purposes
PROPERTY AERIAL
*Property lines are approximate for illustration purposes
PROPERTY AERIAL
Easily accessible from I-75 and located only 28 miles from Lexington
NEIGHBORS
MARKET OVERVIEW
Cynthiana is located in Harrison County, Kentucky, and is the county seat with apopulation of 6,402 living in the city and 18,846 in the county. Cynthiana is located 60miles south of Cincinnati, 28 miles northeast of Lexington, and 21 miles northeast ofGeorgetown, home of Toyota Motors largest North American production plant.
Georgetown is the home of Toyota Motor Manufacturing USA (TMMK)—Toyota’slargest manufacturing facility in the world. Established in 1986, Toyota spent $1.3billion at the facility and added 700 new jobs in 2017.
Cynthiana has several manufacturing companies, including 3M, which produces thePost-It Notepads (https://www.post-it.com/3M/en_US/post-it/), E Z Pack whichmanufactures garbage trucks and accessories (http://www.ezpacktrucks.com/), andE.D. Bullard Co., which manufacture a wide range of safety equipment(https://www.bullard.com/).
As part of the greater Lexington area, Cynthiana benefits from the notoriously stableeconomy of Lexington. The top employer in Lexington is the University of Kentuckywith 14,000 employees. The University has an annual budget of $1.4 billion and ranksas the state’s 9th largest economic company. Lexington is home to Fortune 500companies Xerox, Lexmark International, Lockheed-Martin, and IBM, whose totalcombined employment exceeds 8,000. Other notable corporate headquarters includeTempur Sealy International, Big Ass Solutions, Florida Tile, and the Forcht Group ofKentucky. Amazon, United Parcel Service, and Trane also have large operations inthe city, and Toyota Motor Manufacturing is located within the Lexington CSA.
Cynthiana Location & Economic Overview
DEMOGRAPHIC SUMMARYPOPULATION 3 MILE 10 MILES 20 MILES
CURRENT ESTIMATE 1,467 26,187 113,488
2022 PROJECTED 1,486 26,605 122,015
2000 CENSUS 1,451 26,075 91,298
HOUSEHOLD INCOME
AVERAGE HH INCOME $62,352 $55,073 $63,305
MEDIAN HH INCOME $44,276 $40,779 $50,695
2022 PROJECTED AVERAGE $68,653 $59,719 $70,110
HOUSEHOLD VALUE
AVERAGE HH VALUE $153,860 $182,472 $191,016
MEDIAN HH VALUE $120,435 $126,312 $145,784
BUSINESS
CURRENT YEAR EST. EMPLOYEED POP. 612 11,444 54,371
MANAGEMENT OCCUPATIONS 26% 27% 30%
SERVICE OCCUPATIONS 22% 18% 18%
SALES & OFFICE OCCUPATIONS 20% 23% 21%
PRODUCTION & TRANSPORTATION 24% 22% 21%
EDUCATION
ELEMENTARY 5% 7% 7%
SOME HIGH SCHOOL 8% 9% 9%
HIGH SCHOOL GRADUATE 52% 40% 35%
BACHELORS DEGREE 9% 11% 13%
GRADUATE DEGREE 6% 5% 8%
CONTACT INFORMATION
Corporate OfficeEquity Management Group, Inc.
840 East High StreetLexington, KY 40502O: (859) 266-1414F: (859) 266-6612
For Further Information Regarding this Investment Opportunity:Contact: Jason J. Taylor, Asset Management, Development & Leasing
C: 502-472-7546; [email protected]
Visit us on the web at: http://www.equity-management.com/
DISCLOSURE, CONFIDENTIALITY & DISCLAIMER
The information within this Offering Memorandum will set forth an
understanding regarding the relationship between the Recipient of this package
(the “Recipient”) and Equity Management Group, Inc. and the confidentiality of
the investment information to be supplied to you and your organization for use in
considering, evaluating, and/or purchasing this property (the “Property”). The
recipient acknowledges that all financial, contractual, marketing, and
informational materials including but not limited to lease information, occupancy
information, financial information, projections, data information, and any other
similar information provided by Equity Management Group, Inc. which relates to
the Property (collectively, the “Confidential Information”), whether said
information was transmitted orally, in print, in writing, or by electronic media, is
confidential in nature that severe monetary damage could result from
dissemination of that information to unauthorized individuals. The Recipient shall
limit access to the Confidential Information to those individuals in the Recipient’s
organization with a “need to know”: and shall take all precautions reasonably
necessary to protect the confidentiality of the Confidential Information. The
Recipient acknowledges and agrees that the Confidential Information and any
copies thereof are the property of Equity Management Group, Inc. and that all
such information will be returned to Equity Management Group, Inc. upon
written request. Any offers or inquiries from Recipient in connection with this
investment proposal shall be forwarded, confidentially, to Equity Management
Group, Inc. Recipient agrees that neither Owner nor Equity Management Group,
Inc. shall be obligated to pay any procuring broker fees in connection with this
investment unless a separate written Brokerage Agreement is entered into and
written acknowledgement of any procuring Brokerage Agreement is received
from all parties to the investment transaction. Procuring brokers must provide
written introduction of potential investors and receive written acknowledgement
from Equity Management Group, Inc. for representation to be recognized. This is
a confidential Memorandum intended solely for your limited use and benefit in
determining whether you desire to express further interest in the acquisition of
the Property.
The Memorandum contains selected information pertaining to the property and
does not purport to be a representation of the state of affairs of the Property or
the owner of the Property, to be all-inclusive, or to contain all or part of the
information which perspective Recipients may require to evaluate the purchase of
real property. All financial projections and information are provided for general
reference purposes only and are based on assumptions relating to the general
economy, market conditions, competition, and other factors beyond the control
of the owner or Equity Management Group, Inc. All references disclosed herein
related to acreage, square footages, and/or other measurements may be
approximations and the best information available. The summaries of information
included herein do not purport to be complete nor necessarily accurate
descriptions of the full agreements referenced. Photos herein are the Property of
the respective owners, and use of these images without the express written
consent of the owner is prohibited.
The owner and Equity Management Group, Inc. expressly reserve the right, at its
sole discretion, to reject any or all expressions of interest or offers to purchase
the Property, and/or terminate discussion with any person or entity and at any
time with or without notice which may arise as a result of review of this
Memorandum.
Neither the owner or Equity Management Group, Inc., nor any of their respective
directors, officers, affiliates, or representatives make any representation or
warranty, express or implied, as to the accuracy or completeness of this
Memorandum or its contents; and you are to rely solely on your investigators and
inspections of the property in evaluating a possible purchase of the Property. The
information contained in this document has been obtained from sources deemed
to be reliable. While Equity Management Group, Inc. does not doubt its accuracy,
Equity Management Group, Inc. has not verified it and makes no guarantee,
warranty, or representation about it. It is your responsibility to independently
confirm the accuracy and completeness. Any projections, opinions, assumptions,
or estimates used are for example only and do not represent the current or future
performance of the Property. The value of this transaction to you depends on tax
and other factors which should be evaluated by your tax, financial, and legal
advisors.
Equity Management Group, Inc.
840 East High St.
Lexington, KY 40502
Jason Taylor
502-472-7546
www.equity-management.com