winn dixie new 20 year nnn lease - exp realty advisors dixie - st augustine, fl.pdf · whisper...
TRANSCRIPT
Price: $6,983,200 | NOI: $453,908 | CAP: 6.50%
Winn Dixie new 20 year NNN lease
3905 A1A S, Saint Augustine, FL
Established location
Positive sales growth 2013 to 2014
Low rent to sales ratio
Located on Highway A1A
Less than a mile from the Atlantic Ocean
$74,470 average household income within 3 miles
No state income tax
5% rent bump in year 11 and each option
Subject Property
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Phone: 212.972.7457Fax: [email protected]
Exclusive Offering
In Connection With:
Whisper Valley Ranch
Investment Overview
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Investment Overview
PROPERTY OVERVIEW:EXP Realty Advisors exclusively presents for sale a 51,048 sf Winn Dixie located in St Augustine, FL. The property is lessthan a mile from the Atlantic Ocean on A1A. The tenant recently entered into a new 20 year absolute triple net lease.There are approximately 19 years remaining with a 5% escalation in year 11 and 6 – 5 year renewal options with 5% rentincreases in each. Average daily traffic count is 20,865 vehicles on A1A. An Advance Auto Parts is adjacent to the subjectproperty but not included in the sale. Other retailers in the immediate area include Walgreens, Publix, GNC, Starbux,Subway, Quiznos, Dollar Tree, UPS, and Kangaroo Express. Winn Dixie has been operating at this location since January2000. Rent to sales is currently 2.44%. The tenant reports sales and sales have increased annually 2013 to 2014. Contactus for details.
St. Augustine is a city in northeast Florida and the oldest continuously occupied European-established settlement in thecontinental United States. It is part of Florida's First Coast region and the Jacksonville metropolitan area. St. Augustine'sdistinct historical character has made the city a major tourist attraction. It is also the headquarters for the FloridaNational Guard. The Jacksonville MSA has a population of 1,345,596.
LEASE SUMMARY:Winn Dixie Lease Expiration: 12/31/2033Current Winn Dixie Rent: $433,908 – rent increases by 5% in year 11 to $455,630.40Options: 6 (5) year renewal options – 5% rent increases in each optionLease Type: Absolute NNN – no Landlord responsibilities
Chase Bank ATM Lease Expiration: October 31, 2020Current $20,000 – rent is flat in base termOptions: 2 – 5 year renewal options – 10% rent increases in each optionLease Type: Absolute NNN – no Landlord responsibilitiesNote: Lease is signed & Chase is in permitting process.
Rent commencement is expected to be Nov 11th - 2015
TENANT OVERVIEW: Winn Dixie Stores, Inc. guarantees the lease with Winn-Dixie Stores Leasing, LLCOn March 12, 2012, Winn-Dixie and Greenville, S.C.-based BI-LO became subsidiaries of the privately held parentcompany, BI-LO Holding, which is the ninth-largest supermarket chain in the United States with 688 grocery stores and63,000 team members in eight states throughout the southeast. BI-Lo and Winn-Dixie parent company, SoutheasternGrocers, LLC, is planning an initial public offering of stock under “SEG.”
Founded in 1925, Winn-Dixie is headquartered in Jacksonville, Fla., and currently operates 482 stores throughoutAlabama, Florida, Georgia, Louisiana and Mississippi. Winn-Dixie has a competitive market share with prime convenientlocations in some of the most attractive and fastest growing regions of the southeastern United States with highpopulation density.
INVESTMENT SUMMARY
Price: $6,983,200
CAP Rate: 6.50%
NOI: $453,908
Escalation: 5% in year 11
Bld. sf: 51,048 sf
Land Size: 11.51 acres
Lease Type: NNN (no landlord responsibilities)
Options: 6 (5) year renewal options with 5%escalations
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Atlantic Ocean
Whisper Valley Ranch
Area History
Whisper Valley Ranch
Property Line Map
Winn Dixie
Aerial
Whisper Valley Ranch
Area History
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Aerial
Whisper Valley Ranch
Area History
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Site Plan
Free-standing
drive-up ATM
1,700 SF of
land leased to
JP Morgan
Chase Bank
National
Association
Rent
commenced
November
2015
Lease expires
October 31,
2020
$20,000 per
year triple net
rent
2 – 5 year
options with
10% rental
escalations
Party Wall Agreement in place.
Whisper Valley Ranch
Area History
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Competition Aerial
Whisper Valley Ranch
Area History
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Site Plan
Ch
ase B
ank ATM
Whisper Valley Ranch
Area History
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Chase Bank ATM Elevation
Whisper Valley Ranch
Area History
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Location Map
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
Winn Dixie
Demographic Data
Radius 3 Mile 5 Mile 10 Mile
Population:
2020 Projection 30,580 56,847 102,226
2015 Estimate 26,705 49,584 89,026
2010 Census 23,552 43,425 77,232
Growth 2015-2020 14.51% 14.65% 14.83%
Growth 2010-2015 13.39% 14.18% 15.27%
2015 Population Hispanic Origin 1,137 2,451 4,715
2015 Population by Race:
White 25,508 46,541 78,857
Black 378 1,310 7,218
Am. Indian & Alaskan 67 175 339
Asian 402 791 1,224
Hawaiian & Pacific Island 13 61 86
Other 337 706 1,302
Households:
2020 Projection 14,615 25,956 44,849
2015 Estimate 12,733 22,582 38,963
2010 Census 11,191 19,679 33,672
Growth 2015 - 2020 14.78% 14.94% 15.11%
Growth 2010 - 2015 13.78% 14.75% 15.71%
Owner Occupied 9,281 16,176 27,302
Renter Occupied 3,452 6,406 11,662
2015 Avg Household Income $74,470 $72,015 $65,928
2015 Med Household Income $54,057 $51,826 $44,839
2015 Households by Household Inc:
<$25,000 2,459 5,032 10,105
$25,000 - $50,000 3,396 5,887 10,622
$50,000 - $75,000 2,597 4,178 6,703
$75,000 - $100,000 1,485 2,662 4,395
$100,000 - $125,000 1,067 1,740 2,687
$125,000 - $150,000 434 801 1,127
$150,000 - $200,000 605 1,181 1,788
$200,000+ 691 1,102 1,536
Exclusively listed by:
EXP Realty Advisors118 East 28th Street
Suite #901New York, NY 10016
Phone: (212) 972-7457 Fax: (212) 686-0078
Website: www.exp1031.com
Our Team
Robert JamesPhone: (212) 686-0072
E-mail: [email protected]
Daniel de Sa'Phone: (212) 972-3947
E-mail: [email protected]
Florida Broker of Record:
License Number: BK53897