bakers square and woody’s plaza 100% occupied retail
TRANSCRIPT
COLLIERS INTERNATIONAL | www.colliers.comErnie Saltmarsh, IV | Robert W. Selton, III 5919
Northeast Florida
RETAIL INVESTMENT OPPORTUNITY
Bakers Square and Woody’s PlazaSHADOW ANCHORED BY WINN-DIXIE
1452 - 1484 6th Street South | Macclenny, Florida 32063
Robert W. Selton, III CEO | Northeast Florida+1 904 861 1111 [email protected]
ExclusiveOFFERINGErnie Saltmarsh, IVSenior AssociateInvestment Services+1 904 710 [email protected]
100% OCCUPIED RETAIL PORTFOLIO IN
MACCLENNY, FL
OFFERING HIGHLIGHTS
> Three retail buildings with a combined 24,130± of leasable square feet, located on two parcels in the heart of Macclenny
> Includes a freestanding Woody’s BBQ (with drive thru) and drive-thru VyStar ATM; the balance of space is multitenant retail
> Adjacent to the area’s only Winn Dixie grocery store (recently updated)- the primary grocer in the city of Macclenny
> Within the densest retail trade area of the city- surrounded by national retailers and less than ½ a mile from I-10
> Great mix of long-term tenants (18-20 plus years) and newer leases
> Only one tenant is non-internet resilient- balance of tenants are restaurant (59%), fitness (22%) or service related (15%) users
> Price: $2,200,000 | $91/SFAn 8.66% CAP on the NOI
FOR THE FULL OFFERING MEMORANDUM*,CONTACT AGENTS DIRECTLY.
*Confidentiality agreement required before disclosure.
COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 25919
Northeast FloridaExecutive Summary & HighlightsColliers International Northeast Florida, as exclusive sales broker to the owner, is pleased to offer to qualified investors the opportunity to purchase Bakers Square and Woody’s Plaza, an offering comprised of three retail buildings totaling around 24,130 square feet of space in the heart of Macclenny, Florida. All three buildings are 100% occupied, and shadow anchored by the regions only Winn Dixie grocery store. The offering includes nearly 20,000 SF of multitenant retail space, as well as a free standing, net-leased Woody’s BBQ restaurant and free standing drive-thru VyStar ATM. The property is located within the core retail trade area of Macclenny (Baker County), with frontage on the primary commercial corridor and most heavily traveled road in the city, just over a quarter-mile from the intersection of the main highway (I-10) and 6th Street.
Physical Asset
> Three (3) buildings with a total, combined 24,130 of leasable square feet, located on two (2) parcels- see aerial on page 4 o Woody’s: Freestanding, 5,000 SF restaurant built in 2008 o Woody’s Plaza: 3-tenant center, built in 2008, located on the same parcel as the freestanding Woody’s BBQ o Bakers Square: 16,130 SF of multitenant retail space, built in 1974, directly adjacent to a Winn Dixie grocery store
> Total land area of 3.35 Acres (Woody’s/Woody’s Plaza on 0.37 Acres; Bakers Square on 2.98 Acres)
> Ample parking with cross-parking easement with surrounding users
> Multiple points of ingress/egress and high visibility from S. 6th Street
> Recently repainted (Q4, 2017)
Financial > Great tenant mix with several internet-resilient users (59% of the RBA for restaurant use, 22% for fitness, 15% service related and only 3% “traditional retail”)
> Household name tenants include Woody’s, Firehouse Subs, Dominos & Jackson Hewitt
> Other tenants include successful local hair/nail salons, fitness and gymnastics gyms and most recently a highly popular new brewery/pub called “Crooked Rooster Brewery”
> Current NOI of $190,528
Location > Adjacent to the area’s sole Winn Dixie grocery store- the primary grocer in the city of Macclenny and drawing from a very large trade area
> Located in the densest retail trade area of the city- national retailers in the immediate vicinity include Tractor Supply Co., Hibbet Sports, Zaxbys, Dollar General, McDonalds, Wendy’s, Advance Auto Parts, KFC, Verizon and KFC
> South 6th Street frontage (14,000 cars per day), only a quarter-mile from I-10 (27,500 cars per day)
> Population of 15,793 persons with an average household income of $67,311 within 5-miles, however the center draws from a much larger trade area
Pricing > $2,200,000 > Price Per SF: $91 > 8.66% CAP on NOI
COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 35919
Northeast FloridaProperty Overview
*NOTE: See aerial on following page; Gibson McDonald suite in Bakers Sqare is owner occupied and not included in this offering/sale, nor is the free-standing KFC outparcel; They both contribute toward shared/common expenses.
WOODY’S & WOODY’S PLAZA
Address 1482 - 1484 S. 6th Street, Macclenny, FL 32063
Tax Parcel ID 05-3S-22-0000-0000-0054
Land Size 0.37± Acres | 16,117± SF
Building Size 8,000+/- SF Total/Combined (Woody’s: 5,000+/- SF & Woody’s Plaza: 3,000+/- SF)
Year Built 2008 (both structures)
Occupancy | No. Units 100% Occupied | 4 units
Parking Spaces 80± spaces
BAKERS SQUARE
Address 1452 S. 6th Street, Macclenny, FL 32063
Tax Parcel ID 05-3S-22-0000-0000-0050
Land Size 2.98± Acres | 129,809± SF
Building Size 16,130+/- SF
Year Built 1974 (renovated & upgraded several times since)
Occupancy | No. Units 100% Occupied | 7 units + ATM Outparcel
Parking Spaces 191± spaces (shared with ajacent property owners)
COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 45919
Northeast FloridaClose-Up Aerial
PARCEL 1
PARCEL 2
BAKERS SQUARE
WOODY’S PLAZA
OWNER/OCCUPIED BY GIBSON MCDONALD
FURNITURE -NOT INCLUDED
ATM
6th Street South
FREESTANDING
NOTINCLUDED
COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 55919
Northeast Florida
George Hodges Road
Willis H
odges Road
Barber R
oad
6th Street South14,000± CPD
39,000± CPD
NotPart of
Collateral
Trade Aerial
ATM
COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 65919
Northeast Florida
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About Colliers International
Robert W. Selton, III CEO | Northeast Florida+1 904 861 1111 [email protected]
Ernie Saltmarsh, IVSenior AssociateInvestment Services+1 904 710 [email protected]