az tucson - mountain view retail shops - nwc linda vista ......historic neighborhoods, museums and...
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OFFERINGMEMORANDUMMountain View Retail Shops | NWC Linda Vista Blvd & Thornydale RdTucson, AZ 85742
www.w-retail.com
EXCLUSIVELY MARKETED BY:BRYAN BABITSSenior [email protected]
TABLE OF CONTENTSInvestment Summary Investment Highlights 4 Rent Roll 5
Property Overview Property Photos 6 Macro & Micro Aerial 7 Site Plan 8 Building Plan 9 Plat Map 10 Area Overview Market Introduction 11 Demographics 12
Offering Memorandum | Mountain View Retail Shops | 3
INVESTMENT SUMMARYINVESTMENT HIGHLIGHTS
• New 5 year lease with Bank of America
• Outparcel in Safeway Anchored shopping Center
• Across the street from Mountain View High School Tucson’s largest high school by enrollment
• Significant growth area
PROPERTY SUMMARY
Offering Memorandum | Mountain View Retail Shops | 4
Offering Price $2,171,120CAP Rate 7.0%Net Operating Income $151,978Occupancy 100%Tenancy 5 Current TenantsLand Area 0.87 AcresBuilding GLA 5,221 SFYear Built 2007Address 9665 N Thornydale Rd Tucson, AZ 85742
DEMOGRAPHICSPopulation 1 Mile 3 Miles 5 Miles2018 Estimated 6,999 50,002 117,8992018 Median Age 39.9 40.5 42.6Household Income 1 Mile 3 Miles 5 Miles2016 Median $68,804 $69,630 $70,3672016 Average $84,471 $83,758 $89,941
TRAFFIC COUNTSN Thornydale Rd 17,710 VPDLinda Vista Blvd 9,686 VPD
INVESTMENT SUMMARYRENT ROLL
Offering Memorandum | Mountain View Retail Shops | 5
SUITE TENANT NRSF
LEASE
COMMENCMENT
DATE
BASE
MONTHLY
RENT
BASE
ANNUAL
RENT
JAN 2017-
DEC 2017
CAM ANNUAL
BASE RENT
+CAM
ANNUAL
RENT PSF/
YEAR
TERMS IN
MONTHS
LEASE
EXPIRATION
RENEWAL
OPTIONS
A Fito’s Tacos 1,166 7/19/2007 $3,077 $36,926 $8,378 $45,304 $31.67 60 9/1/2021 5 Years
B Roadrunner Coffee 1,493 3/1/2018 $3,600 $43,200 $10,730 $53,930 $28.94 60 2/28/2023 5 Years
C Devine Healing 1,166 3/6/2018 $2,138 $25,652 $8,378 $34,030 $22.00 12 3/6/2023 5 Years
D Canvas Shop LLC 1,096 11/5/2018 $2,150 $25,800 $7,876 $3,676 $23.54 24 10/1/2020 5 Years
E Bank of America 300 7/1/2018 $1,700 $20,400 $2,156 $22,556 $68.00 60 1/1/2024 5 Years
TOTALS 5,221 $12,665 $151,978 $37,516 $189,495
GROSS INCOME $151,978
EXPENSE REIMBURSEMENT $37,516
TOTAL INCOME $189,494
LESS TOTAL EXPENSES ($37,516)
NOI (PROFORMA) $151,978
PROPERTY PHOTOSPROPERTY OVERVIEW
Offering Memorandum | Mountain View Retail Shops | 6
MACRO & MICRO AERIAL
Linda Vista Blvd Linda Vista Blvd
Th
orn
ydale R
dT
ho
rnyd
ale Rd
17,710 AD
T
9,686 ADT
Mountain ViewHigh School
±1,969 Students±149 Faculty & Staff
North Star Estates93 Homes
North Star Estates93 Homes
North Ranch885 HomesNorth Ranch885 Homes
Crescent RidgeApartments272 Units
Crescent RidgeApartments272 Units
Le MirageApartments168 Units
Le MirageApartments168 Units
Linda Vista R77 Homes
Linda Vista R77 Homes
10
Ora
cle
Rd
Ora
cle
Rd
Ina RdIna Rd
Th
orn
ydal
e R
d
Tangerine Rd
Moore Rd
Rancho Vistoso B
lvd
Cortaro Farms Rd
La
Ch
olla
Blv
d
Wetmore Rd
Orange Grove Rd
River Rd
Silverbell Rd
La
Can
ada
Dr
La
Ch
olla
Blv
d
La
Can
ada
Dr
Th
orn
ydal
e R
d
LA ENCANTADA
TUCSON MALL
OFF FIFTH
FOOTHILLS MALL
Oro ValleyHospital
Ventana MedicalSystems
Oro Valley Country Club
Catalina State Park
Canyon Del Oro High School1569 STU
Rancho Vistoso8200 Units
Dove Mountain5000 Units
Sky Ranch365 Units
PROPERTY OVERVIEW
SUBJECT
SUBJECT
Offering Memorandum | Mountain View Retail Shops | 7
SITE PLANPROPERTY OVERVIEW
Offering Memorandum | Mountain View Retail Shops | 8
SUBJECT
SUBJECT
SUBJSUBSUBSUSUBSUBSUBJSUBJSUBJSUBJSUBJSUBSUSUBSUBSUSUBB ECTTCTCTCTCTTTCTCCTCT
RoadrunnerCoffeeSuite B
1,493 SF
DevineHealingSuite C
1,166 SF
Fito’s TacosSuite A
1,166 SF
Canvass Shop, LLCSuite D
1,096 SF
Bank ofAmericaSuite E300 SF
BUILDING PLANPROPERTY OVERVIEW
Offering Memorandum | Mountain View Retail Shops | 8
PLAT MAPPROPERTY OVERVIEW
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AREA OVERVIEW
Tucson, located in Pima County, Arizona, is the 33rd largest city in the United States with a population of 530,000 people, and the 53rd largest metropolitan area with over 1 million people. Located 115 miles southeast of Phoenix and 60 miles north of the US-Mexico border, Tucson’s high-capacity border and transportation infrastructure makes it an ideal location for business and industry.
With a history that goes back much further than many of its southwestern neighbors, Tucson boasts turn-of-the-century architecture, historic neighborhoods, museums and art galleries. There also exists a college-town atmosphere, thanks to the University of Arizona, which boasts a total enrollment of over 42,000 students. Manufacturers lead the way in innovation, in sectors as varied as aerospace, biotech, defense, healthcare, information technology, optics, solar, and water. Tucson offers an outstanding quality of life, along with a low cost of doing business.
Entrepreneur Magazine.
Offering Memorandum | Mountain View Retail Shops | 10
AREA DEMOGRAPHICSAREA OVERVIEW
Population Summary
Income Summary
Business Data
Population 25+ by Educational Attainment
Employed Population 16+ by Occupation
Household Summary
2018 Total Population2023 Total Population 2015-2020 Annual Growth Rate2018 Median Age
Median Household IncomeAverage Household Income
Total Businesses:Total Employees:Daytime Population:
Associate DegreeBachelor’s DegreeGraduate/Professional Degree Percent of Population with Degrees
Total White Collar Services Blue Collar
2018 Households 2018 Average Household Size 2018 Average Family Size2018 Median Home Value
1 Miles 3 Miles 5 Miles
6,999 50,002 117,8997,215 52,568 125,028 0.61% 1.01% 1.18% 39.9 40.5 42.6
$68,804 $69,630 $70,367$84,471 $83,758 $89,941
94 832 3,079 713 7,379 36,329 4,181 31,847 95,927
9.7% 10.4% 10.0% 21.4% 21.5% 23.6% 15.1% 15.1% 16.5% 46.2% 47.0% 50.1%
3,531 25,533 58,30368.6% 68.0% 69.0% 17.8% 17.2% 17.0% 13.6% 14.8% 14.0%
2,716 19,131 46,636 2.57 2.61 2.51 3.03 3.09 3.01 $220,988 $221,494 $243,130
Offering Memorandum | Mountain View Retail Shops | 11
CONFIDENTIALITY STATEMENT
whose sole purpose is to evaluate the possible purchase of the subject property. This Memorandum has been prepared to provide
The information contained herein is not a substitute for a thorough due diligence investigation.
The information contained in this Memorandum has been obtained from sources we believe to be reliable. While we do not doubt its
assumptions or estimates used, are for example only, and do not represent the current or future performance of the property. The
You and your advisors should conduct a careful, independent investigation of the property to determine, to your satisfaction, the suit-ability of the property for your needs. All potential buyers must take appropriate measures to verify all of the information set forth here-
to exercise independent due diligence in verifying all such information. The contained information is subject to change at any time and
completeness of this Memorandum.
A prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the
-
Seller, shall bind the property. Each prospective purchaser and/or broker proceeds at its own risk.All property showings are by appointment only.
Offering Memorandum | Mountain View Retail Shops | 12
OFFERINGMEMORANDUM www.w-retail.com
Mountain View Retail Shops | NWC Linda Vista Blvd & Thornydale RdTucson, AZ 85742