thanksgiving point business park€¦ · 3f zulu enterprises 12.8% 1,750 $5,162.50 $61,950.00 $2.95...
TRANSCRIPT
2975 CLUB HOUSE DR | LEHI, UT 84043
1.96 ACRES IN THE HEART OF THE SILICON SLOPES
STARBUCKS, ZULU, FIREHOUSE SUBS, RAMEN930, MO’ BETTAHS, & GREEK SOUVLAKI
THANKSGIVING POINT BUSINESS PARK RETAIL CENTER
ANDREW WADSWORTH 801-922-0662
JASON WADSWORTH 801-230-3794
THE OPPORTUNITY
THANKSGIVING POINT BUSINESS PARK RETAIL PAD
RENT ROLL
# Tenant % of Mix Unit SF Monthly Annual Rent / SF Lease Start Lease End
1A Lehi Fired Up, LLC 18.3% 2,500 $5,524.91 $66,298.92 $2.21 4/1/13 3/31/23
1B Ramen 930 Lehi, LLC 16.4% 2,229 $6,072.58 $72,870.96 $2.72 10/1/16 9/30/26
2C K Mack Bros, LLC 23.5% 3,202 $8,618.72 $103,424.64 $2.69 10/16/14 10/31/24
2D Greek Souvlaki Lehi, LLC 16.2% 2,202 $5,088.00 $61,056.00 $2.31 9/26/14 9/30/20
3E Starbucks 12.8% 1,750 $5,614.58 $67,374.96 $3.21 3/1/14 2/29/24
3F Zulu Enterprises 12.8% 1,750 $5,162.50 $61,950.00 $2.95 3/1/18 2/28/28
Totals 100.0% 13,633 $36,081 $432,975.48
Average 2,272 $6,014 $72,162.58 $2.65
OPERATIONS
Annual %
Gross Potential Rent $432,975
Less Vacancy -$21,649 5.0%
Net Rent $411,327
Plus CAM $114,522 27.8%
RUBS Income $1,400
Fee Income $123
Other Income $5,234
Total Collections $532,605
Administrative $62 0.0%
Repairs & Maintenance $17,355 3.3%
Management Fee $18,641 3.5%
Insurance $8,006 1.5%
Real Estate Taxes $30,374 5.7%
Replacement Reserve $2,100 0.4%
Rollover Reserve $27,060 5.1%
Total Expenses $103,598
NOI $429,007
Less Debt Service -$228,347
Cash Flow $200,660
Cap Rate $7,271,310 5.9%
Amount Invested $4,194,750
Thanksgiving Point Retail
1
Utah made national headlines last year when the Census Bureau identified The Beehive State as the fastest growing state in the na-tion. For the foreseeable future, growth and change will be constant companions in Utah. Projections forecast the state’s population will nearly double from 3 million to 5.8 million by 2065. Utah County will experience the most dramatic growth. The County’s population is expected to grow by more than one million by 2065. As conse-quence, Utah County’s population will nearly match Salt Lake Coun-ty in size.
The Thanksgiving Point Business Retail Pad is located at the heart of this astonishing growth. It is surrounded by Silicon Slopes’ most prestigious employers including Vivint, Adobe, Micron, Oracle, and many more. The Silicon Slopes continue to be the focal point of Utah’s economic boom, accounting for 40 percent of the states em-ployment growth since 2010, with no signs of slowing.
THE OPPORTUNITY
PROPERTY SUMMARY
Parcel Number 53:492:0007, 53:492:0002
Lot Size 1.96 acres
Gross Leasable Area 13,663 SqFt
Property Type Retail Center
Buildings / Tenants 3/6
Parking 73 stalls
Year Built 2013
Current Tenants Starbucks, Zulu, Firehouse Subs, Ramen930, Mo’ Bettahs, and Greek Souvlaki
RATINGS
Location A
Marketing Window A
NEIGHBORHOOD
North Club House Dr; Office & Retail
East Ashton Blvd; 7-Eleven, Subway
South Vivint Smart Home Headquarters
West Home2 Suites Hilton
Transportation • I-15 (0.25 mi)• UTA FrontRunner (0.5 mi)
2975 CLUB HOUSE DR | LEHI, UT 84043
AMERICAN FORK OFFICE | 789 Bamberger Dr, Suite B | American Fork, UT 84003| www.carpentercre.com
THANKSGIVING POINT BUSINESS PARK RETAIL PAD
JASON WADSWORTH Managing [email protected]
Carpenter Commercial makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its 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 presence of molds may adversely affect the property and the health of some. If you have questions or concerns regarding this issue conduct further inspection by a qualified professional.
ANDREW WADSWORTHManaging [email protected]
INVESTMENT ADVISORS
AMERICAN FORK OFFICE | 789 Bamberger Dr, Suite B | American Fork, UT 84003| www.carpentercre.com
• Excellent Silicon Slopes Location
• Surrounded By High-Growth Employment Centers
• Easy Access to I-15 and FrontRunner
• Close to Thanksgiving Point Venues
• Adjacent to Hotels and Hospitality
• At The Epicenter of Utah’s Population Growth
Property Highlights