highland industrial park ii-bldg 20 · 2019-08-17 · highland industrial park ii-bldg 20 contents...

OFFERING MEMORANDUM

Highland Industrial Park II-Bldg 20 2900 S. Highland Dr Bldg 20Las Vegas NV 89109

Highland Industrial Park II-Bldg 20CONTENTS

Exclusively Marketed by:

Lucky MathewsAssociate Broker

(702) [email protected]

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

01 Executive Summary Investment Summary 5 Location Summary 6

02 Property Description Property Features 8 Aerial Map 9

03 Rent Comps Rent Comparables Summary 11 Rent Comparables Map 14

04 Sale Comps Sale Comparables Summary 16 Sale Comparables Charts 20 Sale Comparables Map 21

05 Financial Analysis Income & Expense Analysis 23 Multiyear Cash Flow Assumptions 24 Cash Flow Analysis 25

06 Additional Information Market Overview & Demographics 28

Highland Industrial Park II-Bldg 20 Confidentiality and Disclaimer | 03

Copyright © 2019 CREOP, LLC. All Rights Reserved.

Highland Industrial Park II-B

ldg 20 | Executive Summ

ary

Executive Summary

HIG

HLA

ND

IND

UST

RIA

L PA

RK

II-B

LDG

20

01

......

......

......

......

......

......

......

......

Investment Summary

Location Summary

Highland Industrial Park II-Bldg 20 Investment Summary | 05

OFFERING SUMMARYADDRESS 2900 S. Highland Dr Bldg 20

Las Vegas NV 89109COUNTY ClarkMARKET Las VegasSUBMARKET CentralNET RENTABLE AREA (SF) 20,000LAND SF 43,560 SFYEAR BUILT 1980APN 162-09-202-009OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $2,750,000PRICE PSF $137.50OCCUPANCY 100 %NOI (CURRENT) $140,320CAP RATE (CURRENT) 5.10 %CAP RATE (YEAR 2) 5.77 %

PROPOSED FINANCINGLOAN TYPE Fully AmortizedDOWN PAYMENT $1,100,000LOAN AMOUNT $1,650,000INTEREST RATE 4.00 %ANNUAL DEBT SERVICE $104,513LOAN TO VALUE 60 %AMORTIZATION PERIOD 25 YearsNOTES 10yr Term/25 Amortization

Marcus & Millichap Capital CorporationNick Gray Vice President Capital Markets(702) 215-7144/Cell (310) [email protected]

Core Location in Heart of Resort & Industrial Corridor

Highest Demand Submarket with Industrial Vacancy at2.0%

Heavy Investment Surrounding the Property (~$10+Billion)

Upside in Converting Leases to NNN

Marcus & Millichap is pleased to present the exclusive opportunity topurchase Building 20 of Highland Industrial Park II, located in the heart ofLas Vegas’ resort & industrial corridor. This unit may be purchasedindividually or in a portfolio sale. The offering comprises one (1) multi-tenant, industrial buildings constructed in 1980, measuring approximately20,000 square feet, and 100% occupied. The building is situated on one(1) acres and located at 2900 South Highland Drive (between SaharaAvenue and Desert Inn), providing convenient access to the resortcorridor and throughout the Las Vegas valley.

Subject Tenants are on gross leases with average gross rental ratesof$0.62/psf/month but are also reimbursing for utilities and otherexpenses. The property presents an opportunity for an investor toincrease the rents to market rates above $0.85/sf + NNN.

Highland Industrial Park II-Bldg 20 Location Summary | 06

The property is located within a qualified opportunity zoneand benefits from the incredible investments (~$10+ billion)taking place within just a half-mile of the site, includingResorts World, Wynn Convention Center, Area 15, LasVegas Convention Center Expansion, The Drew, MajesticResort, Wynn Convention Center, Sahara Las Vegas, andthe future Wynn West project. Las Vegas Raiders Stadiumis 3.5 miles away with completion of summer 2020.

Regional Map

Locator Map


ldg 20 | Property Description

Property Description

HIG

HLA

ND

IND

UST

RIA

L PA

RK

II-B

LDG

20

02

......

......

......

......

......

......

......

......

Property Features

Aerial Map

Parcel Map

Additional Maps

Property Images

Highland Industrial Park II-Bldg 20 Property Features | 08

PROPERTY FEATURESNUMBER OF UNITS 4NET RENTABLE AREA (SF) 20,000LAND SF 43,560LAND ACRES 1YEAR BUILT 1980# OF PARCELS 1ZONING TYPE Industrial District (M)NUMBER OF STORIES 1NUMBER OF BUILDINGS 1LOT DIMENSION 287 X 151NUMBER OF PARKING SPACES 35PARKING RATIO 1:75/1000 SFCEILING HEIGHT 16' - 22'DOCK HIGH DOORS 1GRADE LEVEL DOORS 4FENCED YARD YesOFFICE SF 2000OFFICE TO WAREHOUSE RATIO 10

NEIGHBORING PROPERTIESNORTH Stainless Steel Fabrication IncSOUTH Highland Industrial CenterEAST Resort World Las VegasWEST Storage Central

MECHANICALHVAC HVAC/SWAMPFIRE SPRINKLERS YesELECTRICAL / POWER 200-400a/120-208v 3p

CONSTRUCTIONFOUNDATION ConcreteFRAMING SteelEXTERIOR MetalPARKING SURFACE AsphaltROOF Composite

TENANT INFORMATIONMAJOR TENANT/S AV Gear LLCLEASE TYPE Gross

Highland Industrial Park II-Bldg 20 Aerial Map | 09


ldg 20 | Rent C

omps

Rent Comps

HIG

HLA

ND

IND

UST

RIA

L PA

RK

II-B

LDG

20

03

......

......

......

......

......

......

......

......

Rent Comparables

Rent Comparables Map

Highland Industrial Park II-Bldg 20 Rent Comparables Summary | 11

1

Highland Industrial Center2910 S Highland Dr Unit GLas Vegas, NV 89109

RSF 9,125

YEAR BUILT 1985

OCCUPANCY 98.00 %

LEASE TYPE NNN

RENT PSF (YEARLY) $10.20

RENT PSF (MONTHLY) $0.85

ANNUAL RENT PSF $8 - $10

LOW HIGH

OCCUPANCY 73 % - 100 %

LOW HIGH

RSF 3,138 - 20,000

LOW HIGH

Notes Cam Rate: $0.14 PSF/MStart Date: 7/1/2019– Walk-in Cooler / Cold Storage Room at 35°– Warehouses Include ±14’ to ±19’ Clear Height– Single Phase Power -200a– Grade Level and Dock High Loading

2

Harsch Golden Showcase3053-3099 S Valley View BlvdLas Vegas, NV 89102

RSF 6,000

YEAR BUILT 1986

OCCUPANCY 91.00 %

LEASE TYPE NNN




LOW HIGH


LOW HIGH

RSF 3,138 - 20,000

LOW HIGH

Notes Cam Rate: $0.26 PSF/MOffice SF: ±1,426Warehouse SF: ±4,574Clear Height: 22’


3

3725 Sammy Davis Jr DrLas Vegas, NV 89109

RSF 10,300

YEAR BUILT 1978

OCCUPANCY 100.00 %

LEASE TYPE NNN




LOW HIGH


LOW HIGH

RSF 3,138 - 20,000

LOW HIGH

Notes Cam Rate: $0.20 PSF/MStart Date: 10/1/2018Term: 36mos– 277/480V, 3-phase power– Two (2) 12’x14’ grade level doors

4

3675 Highland Dr Unit 1-3Las Vegas, NV 89103

RSF 3,138

YEAR BUILT 1976

OCCUPANCY 73.00 %

LEASE TYPE MG




LOW HIGH


LOW HIGH

RSF 3,138 - 20,000

LOW HIGH

Notes Start Date: 12/6/2019Term: Unknown-Docks 2 ext-Drive Ins /10'w x 10'h


5

5979 Valley View Blvd Bldg 6Las Vegas, NV 89118

RSF 20,000

YEAR BUILT 1963

OCCUPANCY 100.00 %

LEASE TYPE NNN




LOW HIGH


LOW HIGH

RSF 3,138 - 20,000

LOW HIGH

Notes Cam Rate: $0.07 PSF/MStart Date: 7/1/2019Term : 5yearsOffice SF: ±3,800/Warehouse SF: ±16,200Clear Height: 17.4’600a/277-480v 3p

S

Highland Industrial Park II-Bldg202900 S. Highland Dr Bldg 20Las Vegas, NV 89109

RSF 20,000

YEAR BUILT 1980

OCCUPANCY 100.00 %

LEASE TYPE Gross




LOW HIGH


LOW HIGH

RSF 3,138 - 20,000

LOW HIGH

Highland Industrial Park II-Bldg 20 Rent Comparables Map | 14

# Property Name Address CityS Highland Industrial Park II-Bldg 20 2900 S. Highland Dr Bldg 20 Las Vegas1 Highland Industrial Center 2910 S Highland Dr Unit G Las Vegas2 Harsch Golden Showcase 3053-3099 S Valley View Blvd Las Vegas3 3725 Sammy Davis Jr Dr Las Vegas4 3675 Highland Dr Unit 1-3 Las Vegas5 5979 Valley View Blvd Bldg 6 Las Vegas


ldg 20 | Sale Com

ps

Sale Comps

HIG

HLA

ND

IND

UST

RIA

L PA

RK

II-B

LDG

20

04

......

......

......

......

......

......

......

......

Sale Comparables

Sale Comparables Charts

Sale Comparables Map

Highland Industrial Park II-Bldg 20 Sale Comparables Summary | 16

1

101 N Mojave RdLas Vegas, NV 89101

RSF 21,000

YEAR BUILT 1973

SALE PRICE $3,925,000

PRICE/SF $186.90

OCCUPANCY 100.00 %

CLOSING DATE 7/2/2019

Cap Rate Range

LOW HIGH

Price/Square Ft $135 - $187

LOW HIGH

DOM Range

LOW HIGH

Notes Distance to Subject Property: 4.0 MilesBuyer purchased property as owner-user. Sold100% vacant, no cap rate%.

2

4343 Polaris AveLas Vegas, NV 89103

RSF 18,954

YEAR BUILT 1992


PRICE/SF $155.64

OCCUPANCY 50.00 %


DAYS ON MARKET 287

Cap Rate Range

LOW HIGH


LOW HIGH

DOM Range 95 - 287

LOW HIGH

Notes Distance to Subject Property: 2.0 MilesTenant purchased building as owner-user. It has 12covered and 28 surface parking spaces and sits on1.07 acres of land.


3

Stadium Industrial Park3900 W Ponderosa WayLas Vegas, NV 89118

RSF 20,271

YEAR BUILT 1963


PRICE/SF $134.97

OCCUPANCY 100.00 %


Cap Rate Range

LOW HIGH


LOW HIGH

DOM Range

LOW HIGH

Notes Distance to Subject Property: 4.0 MilesTenant purchased as owner-user.

4

Plaza Vegas Phase 123566 Polaris AveLas Vegas, NV 89103

RSF 17,700

YEAR BUILT 1978


PRICE/SF $181.75

OCCUPANCY 86.00 %


Cap Rate Range

LOW HIGH


LOW HIGH

DOM Range

LOW HIGH

Notes Bulk/Portfolio Sale


5

Plaza Vegas Phase 33665 Highland DrLas Vegas, NV 89103

RSF 17,000

YEAR BUILT 1975


PRICE/SF $137.24

OCCUPANCY 100.00 %

LEASE TYPE MG


Cap Rate Range

LOW HIGH


LOW HIGH

DOM Range

LOW HIGH


6

3595 Highland DrLas Vegas, NV 89103

RSF 15,161

YEAR BUILT 1978


PRICE/SF $161.68

OCCUPANCY 100.00 %

LEASE TYPE MG


Cap Rate Range

LOW HIGH


LOW HIGH

DOM Range

LOW HIGH



7

3035 S Highland DrLas Vegas, NV 89109

RSF 17,040

YEAR BUILT 1978


PRICE/SF $158.45

OCCUPANCY 68.00 %


DAYS ON MARKET 95

Cap Rate Range

LOW HIGH


LOW HIGH

DOM Range 95 - 287

LOW HIGH

Notes Owner-User Purchase. The buyer plans to occupythe entire building in May 2018.

S

Highland Industrial Park II-Bldg202900 S. Highland Dr Bldg 20Las Vegas, NV 89109

RSF 20,000

YEAR BUILT 1980

ASKING PRICE $2,750,000

PRICE/SF $137.50

CAP RATE 5.10 %

OCCUPANCY 100.00 %

LEASE TYPE Gross

Cap Rate Range 5.10 % - 5.10 %

LOW HIGH


LOW HIGH

Highland Industrial Park II-Bldg 20 Sale Comparables Charts | 20

Highland Industrial Park II-Bldg 20 Sale Comparables Map | 21

# Property Name Address CityS Highland Industrial Park II-Bldg 20 2900 S. Highland Dr Bldg 20 Las Vegas1 101 N Mojave Rd Las Vegas2 4343 Polaris Ave Las Vegas3 Stadium Industrial Park 3900 W Ponderosa Way Las Vegas4 Plaza Vegas Phase 12 3566 Polaris Ave Las Vegas5 Plaza Vegas Phase 3 3665 Highland Dr Las Vegas6 3595 Highland Dr Las Vegas7 3035 S Highland Dr Las Vegas


ldg 20 | Financial Analysis

Financial Analysis

HIG

HLA

ND

IND

UST

RIA

L PA

RK

II-B

LDG

20

05

......

......

......

......

......

......

......

......

Income & Expense

Multiyear Cash Flow Assumptions

Vacant Space/2nd Gen Leasing

Multiyear Cash Flow Projections

Highland Industrial Park II-Bldg 20 Income & Expense Analysis | 23

INCOME CURRENT YEAR 2

Gross Potential Rent $154,300 $172,900

Expense Reimbursement Revenue $5,600 $10,345

CAM Revenue $6,000

Effective Gross Income $165,900 $183,245

Less: Expenses $25,580 $24,580

Net Operating Income $140,320 $158,665

Annual Debt Service $104,513 $104,513

Debt Coverage Ratio 1.34 1.52

Cash Flow After Debt Service $35,807 $54,152

Principal Reduction $38,514 $38,514

Total Return 6.8 % $74,321 8.4 % $92,666

EXPENSES CURRENT YEAR 2

Real Estate Taxes $9,180 $9,180

Insurance $4,800 $4,800

Common Area Maintenance (CAM) $6,000

Management Fee $5,000

Water/Sewer and Alarm/Fire SystemBuilding 20

$5,600 $5,600

Total Operating Expense $25,580 $24,580

Expense / SF $1.27 $1.22

% of EGI 15.42 % 13.41 %

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

Highland Industrial Park II-Bldg 20 Multiyear Cash Flow Assumptions | 24

GLOBALSale Price $2,750,000Analysis Period 5 year(s)Commencement Date Jan. 1, 2020

PROPOSED FINANCINGLoan Type Fully AmortizedDown Payment $1,100,000Loan Amount $1,650,000Interest Rate 4.00 %Annual Debt Service $104,513Loan to Value 60 %Amortization Period 25 YearsNotes 10yr Term/25 Amortization

Marcus & Millichap CapitalCorporationNick Gray Vice President CapitalMarkets(702) 215-7144/Cell (310) [email protected]

Highland Industrial Park II-Bldg 20 Cash Flow Analysis | 25

CASH FLOWCalendar Year CURRENT Year 2 Year 3 Year 4 Year 5Gross Potential RevenueGross Rental Income $154,300 $172,900 $176,850 $185,600 $198,500Expense Reimbursement Revenue $5,600 $10,345 $10,345 $13,508 $20,625CAM Revenue $6,000 $0 $0 $0 $0Gross Potential Income $165,900 $183,245 $187,195 $199,108 $219,125Effective Gross Income $165,900 $183,245 $187,195 $199,108 $219,125Operating ExpensesReal Estate Taxes $9,180 $9,180 $9,180 $9,180 $9,180Insurance $4,800 $4,800 $4,800 $4,800 $4,800Common Area Maintenance (CAM) $6,000 $0 $0 $0 $0Management Fee $5,000 $5,000 $5,000 $5,000Water/Sewer and Alarm/Fire SystemBuilding 20

$5,600 $5,600 $5,600 $5,600 $5,600

Total Operating Expense $25,580 $24,580 $24,580 $24,580 $24,580Net Operating Income $140,320 $158,665 $162,615 $174,528 $194,545Annual Debt Service $104,513 $104,513 $104,513 $104,513 $104,513Cash Flow $35,807 $54,152 $58,102 $70,015 $90,032

Effective Gross Income vs Operating Expenses Cash Flow

Highland Industrial Park II-Bldg 20 Cash Flow Analysis | 26

Calendar Year CURRENT Year 2 Year 3 Year 4 Year 5Financial MetricsCash on Cash Return b/t 3.26 % 4.92 % 5.28 % 6.36 % 8.18 %CAP Rate 5.10 % 5.77 % 5.91 % 6.35 % 7.07 %Debt Coverage Ratio 1.34 1.52 1.56 1.67 1.86Operating Expense Ratio 15.41 % 13.41 % 13.13 % 12.34 % 11.21 %Loan to Value 59.97 % 58.57 % 57.04 % 55.55 % 53.87 %Breakeven Ratio 78.42 % 70.45 % 68.96 % 64.84 % 58.91 %Price / SF $137.50 $137.50 $137.50 $137.50 $137.50Income / SF $8.29 $9.16 $9.35 $9.95 $10.95Expense / SF $1.27 $1.22 $1.22 $1.22 $1.22


ldg 20 | Additional Inform

ation

Additional Information

HIG

HLA

ND

IND

UST

RIA

L PA

RK

II-B

LDG

20

06

......

......

......

......

......

......

......

......

Market Overview & Demographics

MARKET

OVERVIEW

Highland Industrial Park II-Bldg 20 Market Overview & Demographics | 28

MARKET OVERVIEW

LAS VEGASOVERVIEW

Las Vegas is considered one of the premier entertainment cities of the

world, with more than 42.1 million visitors recorded in 2018. It has

evolved into a world-class destination for resorts, restaurants, shopping

and diversified entertainment options.

The Las Vegas-Henderson-Paradise MSA is also one of the fastest-

growing metros in the nation. The population of nearly 2.2 million

people ranks it among the top 50 most populous metros in the U.S. In

conjunction with rising wages, the metro’s median household income

recently surpassed the national average by 1.4 percent as it climbed

5.1 percent. This increase allows residents to make more discretionary

spending.

METRO HIGHLIGHTS

ROBUST EMPLOYMENT GROWTH

A diversifying employment base will support job

growth, which is expected to outpace the U.S.

growth rate over the next five years.

STRONG POPULATION GAINS

The metro’s population is forecast to increase

dramatically in the coming years, exceeding national

gains.

VAST TOURISM INDUSTRY

Visitor volume reached 42 million in 2018, ranking

Las Vegas among the top tourist destinations in the

country.


MARKET OVERVIEW

ECONOMY With all 10 of the nation’s largest hotels located in Las Vegas, tourism and entertainment are

the most significant drivers of the Las Vegas economy; however, the economy is diversifying

into distribution, back-office operations and manufacturing.

The metro's business-friendly environment, access to Western markets, large labor force,

and availability of high-speed data attract companies such as Switch, Amazon, K2 Energy,

Scientific Games, Sunpreme, Tectonics, Virtual Guard, VadaTech and Zappos.

The 2.3 million-square-foot Las Vegas Convention Center is one of the largest in the world

and draws more than 6 million attendees annually.

SHARE OF 2018 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Wynn Resorts

Station Casinos

MGM Resorts

Las Vegas Sands

Caesars Entertainment

Boyd Gaming

The Valley Health System

Cosmopolitan of Las Vegas

Dignity Health

United Healthcare of Nevada* Forecast

MANUFACTURING

2%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

18%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

1%INFORMATION

14%

7%

11% 29% 5%

10%


MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

The population will expand by more than 264,000 residents over the next five years,

resulting in the formation of nearly 116,000 households.

The homeownership rate of 52 percent is well below the national rate of 64 percent,

creating a strong rental market.

Roughly 22 percent of the population age 25 and older have attained a bachelor’s

degree, and 7 percent also hold a graduate or professional degree.

With approximately 320 days of sunshine annually and an average temperature of 80

degrees, residents and visitors alike have plenty to do besides enjoy the resorts and

casinos in Clark County. Water-sports enthusiasts can take advantage of various activities

at Lake Mead and the Colorado River, including boating, fishing, water skiing and sailing.

Red Rock Canyon Conservation Area, located off the Strip, offers outstanding hiking and

mountain-climbing opportunities. Las Vegas is home to the University of Nevada-Las

Vegas (UNLV), which has received national recognition for its hotel management, criminal

justice and social-work programs. Other institutions of higher learning in Las Vegas include

the College of Southern Nevada.

QUALITY OF LIFE

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Forbes; Fortune; Las

Vegas Convention and Visitors Authority; Moody’s Analytics; U.S. Census Bureau

37.1

2018MEDIAN AGE:

U.S. Median:

38.0

$55,700

2018 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$58,800

2.2M

2018POPULATION:

Growth2018-2023*:

12.1%

800K

2018HOUSEHOLDS:

14.5%

Growth2018-2023*:

2018 Population by Age

0-4 YEARS

6%5-19 YEARS

19%20-24 YEARS

6%25-44 YEARS

29%45-64 YEARS

25%65+ YEARS

14%


PROPERTY NAME

MARKETING TEAM

Source: © 2018 Experian

Created on July 2019

POPULATION 1 Miles 3 Miles 5 Miles

2023 Projection

Total Population 9,680 165,246 469,238

2018 Estimate


2010 Census


2000 Census


Daytime Population

2018 Estimate 55,202 460,585 811,765

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

2023 Projection

Total Households 4,651 69,237 180,318

2018 Estimate


Average (Mean) Household Size 2.11 2.34 2.56

2010 Census


2000 Census


HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

2018 Estimate

$200,000 or More 5.05% 1.99% 1.90%

$150,000 - $199,000 3.32% 1.94% 1.93%

$100,000 - $149,000 6.84% 5.71% 6.50%

$75,000 - $99,999 6.10% 7.26% 8.43%

$50,000 - $74,999 11.87% 15.57% 17.13%

$35,000 - $49,999 12.58% 14.89% 15.67%

$25,000 - $34,999 13.39% 15.62% 14.50%

$15,000 - $24,999 14.28% 16.76% 15.52%

Under $15,000 26.56% 20.26% 18.41%

Average Household Income $63,127 $50,465 $52,494

Median Household Income $31,811 $33,225 $36,261

Per Capita Income $29,755 $21,525 $20,210

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

Population By Age

2018 Estimate Total Population 8,803 164,658 466,857

Under 20 18.83% 22.29% 24.49%

20 to 34 Years 18.02% 23.89% 22.60%

35 to 39 Years 6.08% 7.01% 6.73%

40 to 49 Years 12.86% 13.42% 13.24%

50 to 64 Years 21.36% 19.03% 18.54%

Age 65+ 22.83% 14.38% 14.39%

Median Age 45.67 37.67 37.11

Population 25+ by Education Level

2018 Estimate Population Age 25+ 6,694 116,009 320,135

Elementary (0-8) 9.13% 9.68% 9.94%

Some High School (9-11) 10.43% 11.84% 12.56%

High School Graduate (12) 24.46% 31.27% 32.43%

Some College (13-15) 24.71% 23.16% 22.35%

Associate Degree Only 6.44% 5.70% 5.73%

Bachelors Degree Only 14.52% 10.97% 10.00%

Graduate Degree 7.74% 4.55% 4.35%

Time Travel to Work

Average Travel Time in Minutes 22 24 25


Income

In 2018, the median household income for your selected

geography is $31,811, compare this to the US average

which is currently $58,754. The median household

income for your area has changed by 23.06% since 2000.

It is estimated that the median household income in your

area will be $36,101 five years from now, which

represents a change of 13.49% from the current year.

The current year per capita income in your area is

$29,755, compare this to the US average, which is

$32,356. The current year average household income in

your area is $63,127, compare this to the US average

which is $84,609.

Population

In 2018, the population in your selected geography is

8,803. The population has changed by -23.14% since

2000. It is estimated that the population in your area will

be 9,680.00 five years from now, which represents a

change of 9.96% from the current year. The current

population is 54.19% male and 45.81% female. The

median age of the population in your area is 45.67,

compare this to the US average which is 37.95. The

population density in your area is 2,800.30 people per

square mile.

Households

There are currently 4,149 households in your selected

geography. The number of households has changed by -

24.88% since 2000. It is estimated that the number of

households in your area will be 4,651 five years from

now, which represents a change of 12.10% from the

current year. The average household size in your area is

2.11 persons.

Employment

In 2018, there are 28,968 employees in your selected

area, this is also known as the daytime population. The

2000 Census revealed that 43.51% of employees are

employed in white-collar occupations in this geography,

and 54.91% are employed in blue-collar occupations. In

2018, unemployment in this area is 5.34%. In 2000, the

average time traveled to work was 22.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is

as follows: 51.96% White, 11.34% Black, 1.28% Native

American and 11.62% Asian/Pacific Islander. Compare

these to US averages which are: 70.20% White, 12.89%

Black, 0.19% Native American and 5.59% Asian/Pacific

Islander. People of Hispanic origin are counted

independently of race. People of Hispanic origin make up

34.23% of the current year population in your selected

area. Compare this to the US average of 18.01%.

PROPERTY NAME

MARKETING TEAM

Housing

The median housing value in your area was $214,448 in

2018, compare this to the US average of $201,842. In

2000, there were 1,425 owner occupied housing units in

your area and there were 4,099 renter occupied housing

units in your area. The median rent at the time was $513.

Source: © 2018 Experian


8


Highland Industrial Park II-Bldg 20

Exclusively Marketed by:

Lucky MathewsAssociate Broker

(702) [email protected]

powered by CREOP

highland industrial park ii-bldg 20 · 2019-08-17 · highland industrial park ii-bldg 20 contents...

Documents