value-add cvs - constant...

JONESBORO, GA

Value-Add CVS

OFFERING MEMORANDUM

CONFIDENTIALITY AND DISCLAIMER

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.

JONESBORO, GA

Value-Add CVS

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 YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NON-ENDORSEMENT NOTICE

NET LEASED DISCLAIMER

Value-Add CVSJONESBORO, GA

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Section 1 PRICING AND FINANCIAL ANALYSIS

Section 2 PROPERTY DESCRIPTION

Section 3 MARKET OVERVIEW

Section 4 DEMOGRAPHIC ANALYSIS

TABLE OF CONTENTS

Value-Add CVS


PRICING AND FINANCIAL ANALYSIS

1



Existing Financing

Loan Type Free and Clear

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Atlanta, Inc. © 2017 X0331181Marcus & Millichap. All rights reserved.

FINANCING

Annualized Operating Data

7267 Tara BoulevardJonesboro, GA 30236

Price $1,145,000

Down Payment 100% / $1,145,000

Rentable Square Feet 11,325

Price/SF $101.10

CAP Rate 14.53%

Year Built 1997

Lot Size +/- 1.04 Acres

Type of Ownership Fee Simple

Location

Rent Increases Annual Rent Monthly Rent

Years 1-20 $166,324.00 $13,860.33

Option 1 $177,649.00 $14,804.08

Option 2 $188,974.00 $15,747.83

Option 3 $200,299.00 $16,691.58

Option 4 $211,624.00 $17,635.33

Option 5 $222,949.00 $18,579.08

Option 6 $234,274.00 $19,522.83

Base Rent ($14.69/SF) $166,324

Net Operating Income $166,324

Total Return 14.53% / $166,324

2

Tenant Trade Name CVS

Ownership Public

Tenant Corporate Store

Lease Guarantor Corporate Guarantee

Lease Type Double Net

Roof and Structure Landlord Responsible

Lease Term 20 Years

Lease Commencement Date November 1, 1997

Rent Commencement Date November 1, 1997

Lease Expiration Date October 31, 2017

Term Remaining on Lease 1.5 Years

Increases In Options

Options Six, Five-Year Options



Tenant Summary


FINANCIAL OVERVIEW

3



Property Name Value-Add CVS

Property Address 7267 Tara Boulevard

Jonesboro, GA 30236

Property Type Net Leased Drug Store


Tenant Trade Name CVS

Ownership Public

Tenant Corporate Store

Sales Volume $153 Billion (2015)

Net Worth $37.2 Billion (2015)

Lease Guarantor Corporate Guarantee

Credit Rating BBB+

Valueline Financial Strength Stable

Rating Agency Standard & Poor

Stock Symbol CVS

Board NYSE

Rank #13 in Fortune 500

Lease Commencement Date November 1, 1997

Rent Commencement Date November 1, 1997

Lease Expiration Date October 31, 2017

Term Remaining on Lease 1.5 Years

Lease Type Double Net

Roof and Structure Landlord Responsible

Lease Term 20 Years

Increases In Options

Options to Renew Six, Five-Year Options

Options to Terminate None

Options to Purchase None

First Right of Refusal None

No. of Locations 7,500+

Headquartered Woonsocket, Rhode Island

Web Site www.cvs.com

Years in the Business 53 Years

Other Concepts Owned Long Drugs


CVS Caremark is dedicated to helping people on their path to better health as the largest integrated pharmacy company in the United States.

Through the Company's more than 7,500 retail pharmacy stores; its leading pharmacy benefit manager serving more than 60 million plan members;

and its retail health clinic system, the largest in the nation with more than 650 MinuteCliniclocations, it is a market leader in mail order, retail and

specialty pharmacy, retail clinics, and Medicare PartD Prescription Drug Plans. As a pharmacy innovation company with an unmatched breath of

capabilities, CVS Caremark continually strives to improve health and lower costs by developing new approaches such as its unique Pharmacy

Advisor program that helps people with chronic diseases such as diabetes obtain and stay on their medications.

TENANT OVERVIEW


PROPERTY DESCRIPTION

Marcus & Millichap is pleased to present this 11,325-square foot CVS Pharmacy located in the Atlanta suburb of Jonesboro, Georgia. Located approximately 15 miles south of Atlanta, this CVS has one and a half years remaining on a double net “NN” lease. VS is relocating to a new location three miles south on Tara Blvd. This provides the purchaser with an excellent opportunity to reposition the asset.

This highly visible opportunity is ideally located on the signalized, hard corner intersection of Tara Boulevard and Battle Creek Road, with over 71,800 vehicles per day passing through the intersection. The 1.04 acre lot provides multiple points of ingress and egress in addition to drive-thru service. The surrounding area features strong demographics, with more than 186,000 residents within the five-mile radius.

CVS benefits from being in close proximity to Southlake Mall, a one million-square foot shopping mall with more than 120 vendors. The mall features tenants such as Macy's, Sears, Bath & Body Works, Victoria's Secret, Olive Garden, and many more. Other major tenants in the vicinity include Kroger, Walgreens, Dollar General, Dollar Tree, McDonald's, Chick-fil-a- O'Reilly Auto Parts, Planet Fitness, and Sam's Club, among others.

Investment Highlights

■ The Subject Property is a 11,325-Square Foot CVSPharmacy in Jonesboro, Georgia | 15 Miles South of AtlantaMetropolitan Statistical Area (MSA)

■ • CVS Is Relocating To New Location Down Tara BlvdFollowing October 2017 Lease Expiration - Opportunity ToReposition

■ Highly Visible Signalized, Hard Corner Location WithMultiple Points of Ingress and Egress

■ Busy Traffic Corridor | More Than 71,000 Vehicles Per DayPass Through Intersection of Tara Boulevard and BattleCreek Road

■ More Than 186,000 Residents Within the Five-Mile Radius

■ In Close Proximity to Southlake Mall | One Million-SquareFoot Shopping Mall With 120 Vendors | Anchors IncludeMacy's and Sears

■ Major Tenants in the Vicinity Include Kroger, Walgreens,Dollar General, Dollar Tree, McDonald's, Chick-fil-a-

5




INVESTMENT OVERVIEW

Size matters to CVS Caremark (formerly CVS), the nation's #2 drugstore chain and a leading pharmacy benefits manager with more than 60 million plan members. With more than 7,500 retail and specialty drugstores under the CVS and Longs Drug banners, it trails rival Walgreen by nearly 600 stores. CVS has grown rapidly through a string of acquisitions that included the Eckerd and Longs Drug Stores chains. Also, CVS now owns prescription benefits management (PBM) company Caremark Rx. Caremark Rx was combined with CVS's PBM and specialty pharmacy unit PharmaCare Management Services to form Caremark Pharmacy Services. Its MinuteClinic retail health network has more than 650 locations inside CVS stores in 25 states.

CVS Caremark Corporation, together with its subsidiaries, is the largest integrated pharmacy health care provider in the United States. They are uniquely positioned to deliver significant benefits to health plan sponsors through effective cost management solutions and innovative programs that engage plan members and promote healthier and more cost-effective behaviors. Our integrated pharmacy services model enhances our ability to offer plan members and consumers expanded choice, greater access and more personalized services to help them on their path to better health. CVS effectively manages pharmaceutical costs and improves health care outcomes through their pharmacy benefit management (“PBM”), mail order and specialty pharmacy division, CVS Caremark® Pharmacy Services (“Caremark”); their more than 7,400 CVS/pharmacy® retail stores; their retail-based health clinic subsidiary, MinuteClinic® and online retail pharmacy, CVS.com®. They currently have three reportable segments: Pharmacy Services, Retail Pharmacy and Corporate.

6




INVESTMENT OVERVIEW

7



The Offering

Property Value-Add CVS

Property Address 7267 Tara Boulevard

Jonesboro, GA 30236

Assessor's Parcel Number 13-0179B-00E-002

Zoning Commercial

Site Description

Number of Stories 1

Year Built 1997


Lot Size +/- 1.04 Acres

Type of Ownership Fee Simple

Parking 50 Spaces

Parking Ratio 4.42/1,000 SF


PROPERTY SUMMARY

8




PROPERTY PHOTOS

9




PROPERTY PHOTOS

10




NEIGHBORING TENANTS

Local Map Regional Map

11




AREA MAPS

12




AERIAL PHOTO

13




AERIAL PHOTO


MARKET OVERVIEW

15

MARKET OVERVIEW


Geography

The Atlanta metro is nestled in the rolling hills of

northwestern Georgia. The Chattahoochee River and

Stone Mountain are recognized as spectacular geological

features in the area. Stone Mountain, located east of

Atlanta, is a major part of a granite vein running

through the region. With few natural barriers to limit

development, tremendous population growth over the

past decade expanded the metro’s borders, which now

encompass 21 counties. Meanwhile, new redevelopment

projects downtown that present a vast array of housing,

entertainment and retail opportunities are enticing

residents back into the city.


Market Highlights

Heavy concentration of headquarters

■ Atlanta ranks fifth in the nation in the number of

Fortune 500 headquarters with 18, including UPS,

Coca-Cola, Delta Air Lines and SunTrust Banks.

High median household income

■ The metro’s annual median household income of

$59,000 places it above the U.S. level of $56,100.

Low costs of living and doing business attract jobs

■ A pro-business environment and affordable home

prices helped Atlanta rise to fourth in the nation in

job creation last year.

Atlanta-Sandy Springs-Marietta Metro

ATLANTA

16

MARKET OVERVIEW

Largest Cities in Metro by Population


* ForecastSources: Marcus & Millichap Research Services, U.S. CensusBureau, Experian

Metro

The Atlanta metro is home to more than 5.6 million

residents. From 2010 to 2015, the population rose by

351,100 people. In the coming five years, annual

population growth will flourish even more rapidly with

the addition of 481,600 people. Fulton is the most

populous county in the metro with 1 million residents.

Atlanta is the largest city, with 465,200 citizens.

Infrastructure

Atlanta’s extensive and well-developed transportation

network is a key competitive advantage. Hartsfield-

Jackson Atlanta International Airport is the busiest

passenger airport in the world. It is also home to Delta

Air Lines and a major air cargo hub.

The metro’s extensive road, rail and airport systems and

its proximity to the Port of Savannah ensure its status as

the pre-eminent distribution hub for the Southeast.

CSX and Norfolk Southern provide rail connections

nationally through five intermodal yards.

The Metropolitan Atlanta Rapid Transit Authority

(MARTA) operates train and bus service throughout the

region; its system contains dozens of train stations

running on four lines with a link to the airport and

around 125 bus lines. The Atlanta Regional

Commission is embarking on an exciting new initiative

that will provide major transportation system

improvements including expanding passenger rail lines

and developing a new regional bus service.


Atlanta 465,200

Sandy Springs 102,900

Roswell 95,700

Johns Creek 84,000

Alpharetta 62,500

Marietta 59,700

ATLANTA

Airports

■ Hartsfield-Jackson Atlanta International

Airport

■ Six reliever airports

Major Roadways

■ Interstates 20, 75, 85, 285 and 575

Rail

■ Freight - CSX, Norfolk Southern

■ Passenger - Amtrak

■ Commuter - MARTA

Atlanta is:

■ 250 miles from Savannah

■ 640 miles from Washington, D.C.

■ 720 miles from Chicago

■ 790 miles from Dallas

17

MARKET OVERVIEW


* ForecastSources: Marcus & Millichap Research Services, Bureau ofEconomic Analysis, Moody’s Analytics, U.S. Census Bureau,Fortune

Economy

The Atlanta economy is thriving, with both gross

metropolitan product (GMP) and retail sales

progressing above national levels. The metro ranks high

in the nation for Fortune 500 headquarters and serves as

a financial hub for the Southeast; it is home to SunTrust

Bank and the Federal Reserve Bank of Atlanta.

Many companies favor Atlanta for its low corporate

taxes, pro-business climate, and access to national and

global markets. The metro boasts one of the country’s

largest concentrations of air transportation, cargo and

warehousing operations, making trade, transportation

and utilities the dominant employment sector.

Atlanta is also an exceptional business and government

center. Numerous governmental and educational

entities are based in Atlanta, including the Centers for

Disease Control, the Federal Reserve District Six and

more than 30 accredited higher learning institutions.

Technology-focused R&D programs and facilities at

the universities boost high-tech employment.

Media outlets have an immense presence in Atlanta with

CNN headquartered in the city, along with Turner

Broadcasting System, Cox Communications and The

Weather Channel. Five local media production

companies have aided in the establishment of the

prosperous film industry, which now has a statewide

economic impact of $5.1 billion annually.


2015 Atlanta Fortune 500 Headquarters

Home Depot Rock-Tenn

Newell Rubbermaid Genuine Parts

The Coca-Cola Co. First Data

Delta Air Lines AGCO

Coca-Cola Enterprises UPS

Southern Co. NCR

SunTrust Banks HD Supply

Asbury Automotive Aflac

ARRIS Group AGL Resources

ATLANTA

18

MARKET OVERVIEW


Labor

For the last five years, nonfarm employment in the Atlanta metro has consistently averaged higher growth per year

than the U.S. In the coming five years, this trend will continue as Atlanta posts an average 2.0 annualized growth

rate, exceeding the national average of 1.3 percent annually. With the existing employment base totaling more

than 2.6 million positions, job growth will sustain an expanding economy.

Currently, the largest share of metro employment is represented by the trade, transportation and utilities sector,

which comprises 22 percent of jobs. The sector derives its strength from the region’s position as the primary

distribution hub for the Southeast; numerous large companies have office and warehouse facilities in the area.

Employment in trade, transportation and utilities is expected to expand at an average rate of 1.6 percent annually

over the next five years.

The professional and business services industry accounts for 19 percent of local jobs and is projected to post

annual gains of 2.8 percent through 2020. Expansion in this sector will fuel the need for office space. Education

and health services employment also continues to escalate as the population rises. This sector currently provides

nearly 321,800 jobs and is expected to average 3.1 percent annual growth in the coming five years.

During this period, all sectors will expand, but the fastest employment growth will be in construction. The sector

will add jobs at an annual pace of 3.8 percent as new housing starts increase and major developments, such as

facilities for the Atlanta Braves and Atlanta Falcons, proceed.


* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’s Analytics

ATLANTA

19

MARKET OVERVIEW


Major Employers

Employers

Atlanta is one of the nation’s leading business centers. In

total, 18 Fortune 500 companies call the metro their

headquarters, and many of the world’s most

recognizable companies have a substantial presence in

the metro. Large employers include Delta, Home

Depot, United Parcel Service (UPS) and Cox

Communications. Among these, both UPS and Cox

chose to relocate to Atlanta to take advantage of the

high-quality workforce, a low cost of doing business

and a well-developed transportation infrastructure.

Mercedes-Benz is in the process of moving their

headquarters to Atlanta, adding hundreds of employees

and State Farm will anchor the largest corporate office

project in the metro. When completed, the 2.2-million-

square-foot mixed-use project in Dunwoody will house

8,000 employees.

Other major employers include transportation

companies such as Southwest Airlines and Delta Air

Lines, which has a local payroll of more than 27,000

workers. Many of the transportation jobs are located at

Hartsfield-Jackson Atlanta International Airport.

Telecommunications companies in the metro include

AT&T, CNN and Cox Communications. The area also

hosts a growing biotechnology industry, and defense

manufacturer Lockheed Martin is located in Marietta.

Atlanta has the largest concentration of government and

financial offices in the Southeast, including the State of

Georgia, Centers for Disease Control and SunTrust

Banks. It also has many population-serving employers,

such as American Cancer Society, WellStar Health

Systems and Emory University.* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’sAnalytics, Experian


ATLANTA

Gwinnett County Public Schools

Emory University

Delta Air Lines

Cox Enterprises, Inc.

Cobb County Public Schools

AT&T

Wal-Mart

UPS

WellStar Health Systems

Home Depot

20

MARKET OVERVIEW


Demographics

Atlanta’s emergence as a world-class business center and

the population shift to Sun Belt areas continue to drive

population growth. The metro is ranked among the

nation’s top 10 largest, and will exceed 6 million

residents by 2019.

Many of the young people who move to Atlanta for

employment have chosen to remain in the region and

have families. This has lowered the median age to 35.6

years, which is younger than the U.S. median. More

than 62 percent of residents are in their working years,

and seniors comprise just 10 percent of the population.

Educational attainment is high, as 34.6 percent of the

local population age 25 and older have obtained at least

a bachelor’s degree, up from 31 percent in 2000. Job

quality has also increased, as reflected in a median

household income of nearly $59,000 per year, above the

national median of $56,100 annually.

In the coming five years, the rise in household income

will outpace a tick up in home prices. This trend should

expand the homeownership rate in the metro. Atlanta

home prices are among the most affordable of

Southeastern cities, with a median price of $175,900.

This has contributed to a homeownership rate of 64.2

percent, slightly higher than the national average.

* ForecastSources: Marcus & Millichap Research Services, AGS, Experian,Moody’s Analytics, U.S. Census Bureau


ATLANTA

21

MARKET OVERVIEW


The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.

Quality of Life

The Atlanta metro features a surging business

environment and modern infrastructure while providing

entertainment and attractions in a safe and comfortable

community. With its genuine Southern hospitality,

Atlanta boasts a lifestyle that attracts many people.

Affordable housing lowers the average cost of living,

allowing citizens to lead prosperous lives in the region,

whether in a rural or urban setting.

Outdoor and sports enthusiasts will find plenty to

enjoy. Mild weather year-round beckons residents to

hike and bike on the many trails in and around Atlanta.

Atlanta is also home to professional sports franchises in

the NFL, MLB, NBA and WNBA.

The metro has several acclaimed cultural institutions,

including Zoo Atlanta and the High Museum of Art.

Central Atlanta continues its urban renaissance with an

abundance of nightclubs, restaurants and entertainment

venues, including the Atlanta Symphony Orchestra and

the Atlanta Ballet. The Georgia Aquarium, the National

Center for Civil and Human Rights, the College

Football Hall of Fame and the World of Coca-Cola

museum are all located downtown in Centennial Park.

More than 30 institutions of higher learning call Atlanta

home, including Emory University, Georgia Institute

of Technology and Spelman College. * ForecastSources: Marcus & Millichap Research Services, Economy.com,National Association of Realtors, U.S. Census Bureau


ATLANTA


DEMOGRAPHIC ANALYSIS

1 Mile 3 Miles 5 Miles

2000 Population 11,969 74,176 171,964

2010 Population 10,590 73,979 178,955

2014 Population 11,167 77,184 186,776

2019 Population 11,374 79,971 193,626

2000 Households 4,256 26,163 60,619

2010 Households 3,804 26,470 63,104

2014 Households 4,022 27,742 66,173

2019 Households 4,105 29,041 69,381

2014 Average Household Size 2.80 2.80 2.78

2014 Daytime Population 3,186 35,456 66,193

2000 Owner Occupied Housing Units 31.58% 49.37% 54.87%

2000 Renter Occupied Housing Units 61.54% 45.16% 40.21%

2000 Vacant 6.88% 5.47% 4.93%



2014 Vacant 11.87% 10.39% 9.91%



2019 Vacant 12.90% 11.09% 10.57%

$ 0 - $14,999 18.9% 16.6% 14.8%

$ 15,000 - $24,999 18.0% 17.6% 15.6%

$ 25,000 - $34,999 15.6% 16.5% 16.1%

$ 35,000 - $49,999 22.2% 17.8% 17.3%

$ 50,000 - $74,999 14.0% 16.8% 18.4%

$ 75,000 - $99,999 7.1% 8.0% 9.2%

$100,000 - $124,999 2.0% 4.3% 4.8%

$125,000 - $149,999 0.9% 1.2% 1.8%

$150,000 - $199,999 0.5% 0.8% 1.3%

$200,000 - $249,999 0.4% 0.2% 0.4%

$250,000 + 0.5% 0.3% 0.5%

2014 Median Household Income $33,706 $34,620 $37,553

2014 Per Capita Income $15,007 $16,182 $17,626

2014 Average Household Income $41,625 $44,606 $49,124

Demographic data © 2012 by Experian.

23




DEMOGRAPHIC REPORT

Geography: 5 miles

Population

In 2014, the population in your selected geography is 186,775. The population has changed by 8.61% since 2000. It is estimated

that the population in your area will be 193,625 five years from now, which represents a change of 3.66% from the current year. The

current population is 47.68% male and 52.31% female. The median age of the population in your area is 32.0, compare this to the

Entire US average which is 37.3. The population density in your area is 2,378.00 people per square mile.

Households

There are currently 66,173 households in your selected geography. The number of households has changed by 9.16% since 2000. It

is estimated that the number of households in your area will be 69,381 five years from now, which represents a change of 4.84%

from the current year. The average household size in your area is 2.77 persons.

Income

In 2014, the median household income for your selected geography is $37,552, compare this to the Entire US average which is

currently $51,972. The median household income for your area has changed by -10.60% since 2000. It is estimated that the median

household income in your area will be $44,964 five years from now, which represents a change of 19.73% from the current year.

The current year per capita income in your area is $17,626, compare this to the Entire US average, which is $28,599. The current

year average household income in your area is $49,124, compare this to the Entire US average which is $74,533.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 19.17% White, 65.16% Black, 0.04% Native American and 5.87%

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 12.96% of the current year

population in your selected area. Compare this to the Entire US average of 17.13%.

Housing

In 2000, there were 34,983 owner occupied housing units in your area and there were 25,635 renter occupied housing units in your

area. The median rent at the time was $603.

Employment

In 2014, there are 66,192 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 54.21% of employees are employed in white-collar occupations in this geography, and 45.73% are employed in blue-collar

occupations. In 2014, unemployment in this area is 9.35%. In 2000, the average time traveled to work was 32.0 minutes.


24




SUMMARY REPORT

Number of people living in a given area per square mile.


25




POPULATION DENSITY

The number of people employed in a given area per square mile.


26




EMPLOYMENT DENSITY

Average income of all the people 15 years and older occupying a

single housing unit.


27




AVERAGE HOUSEHOLD INCOME

JONESBORO, GA

OFFERING MEMORANDUM

Value-Add CVS

Offices Throughout the U.S. and Canada

www.MarcusMillichap.com

Presented By:

Michael J. FasanoBroker

Marcus & MillichapLicense: GA: 352663

Tel: (678) 808-2700Fax: (678) 808-2710

value-add cvs - constant...

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