new 2019 construction urgent care center · 2018. 10. 26. · 1 overview price $5,420,000 gross...
TRANSCRIPT
O F F E R I N G M E M O R A N D U M
New 2019 Construction Urgent Care Center
W I N T E R P A R K ( O R L A N D O ) F L O R I D A
CONFIDENTIALITY AND DISCLAIMERThe 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.
NON-ENDORSEMENT NOTICEMarcus & Millichap Real Estate Investment Services, Inc. (“M&M”) 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 M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
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.
Boca Raton
Boynton Beach
Bradenton
Brandon
Cape Coral
Carol City
Coral Springs
Deerfield Beach
Delray Beach
Dunedin
Fort Myers
Fort Pierce
Hallandale
Kendale Lakes
Lake Worth
Lakeland
Lauderdale LakesLauderhill
Margate
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Miramar
North Miami
North Miami Beach
Ocala
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Plantation
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SunriseTamarac
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Town N Country
West Little River
Westchester
Altamonte Springs
Bartow
Bayonet Point
Bayshore Gardens
Bellair
Belle Glade
BellviewBrent
Casselberry
Century Village
Cocoa
Cocoa Beach
Conway
Cooper City
Cutler Ridge
DaniaDavie
De Land
Deltona
East Naples
Egypt Lake
Elfers
Englewood
Ensley
Fairview Shores
Ferry Pass
Fort Walton Beach
Gladeview
Golden Glades
Goldenrod
Gulfport
Haines City
Holden Heights
Holiday
Homestead
Immokalee
Jacksonville Beach
Jasmine Estates
Key West
Kissimmee
Lake CarrollLake Magdalene
Lakeland Highlands
Lakeside
Lealman
Leesburg
Leisure City
Lighthouse Point
Lindgren Acres
Lockhart
Longwood
Myrtle Grove
Naples
Naranja
New Port Richey
New Smyrna Beach
Norland
North Fort Myers
North Lauderdale
North Palm Beach
Oak Ridge
Oakland Park
Ormond Beach
Palatka
Palm Bay
Palm Beach Gardens
Palm River
Palmetto EstatesPerrine
Pinewood
Plant City
Port Orange
Port St. Lucie
Rockledge
Sanford
Sarasota Springs
South Bradenton
South Daytona
South Miami
South Miami Heights
St. Augustine
Tamiami
Tarpon Springs
Temple TerraceUniversity
Venice
Vero Beach
Vero Beach South
Warrington
Wekiva Springs
West Pensacola
Westwood Lakes
Winter Haven
Winter Park
Winter Springs
Wright
Fort Lauderdale
Hialeah
Hollywood
Orlando
Clearwater
Daytona Beach
Gainesville
Kendall
Largo
Miami Beach
Pensacola
Pompano Beach
West Palm Beach
Jacksonville
Miami
St. Petersburg
Tampa
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Investment Summary .........................................1
Investment Highlights.........................................2
Aerial Map .........................................................3
Site Plan ............................................................6
Tenant Summary ................................................7
Location Highlights .............................................9
Location Summary ...........................................10
Demographics ..................................................11
TABLE OF CONTENTS
1
O V E R V I E W
Price $5,420,000
Gross Leasable Area (GLA) +/- 10,358 SF
Lot Size (approx) 3.4 Acres
Net Operating Income $271,000
CAP Rate 5.00%
Year Built 2018
A N N U A L I Z E D O P E R AT I N G D ATA
Lease Term Annual Rent
Years 1-5 $271,000
Years 6-10 $297,000
Years 11-15 $326,700
Years 16-20 $359,370
N SEMORAN BLVD & HANGING MOSS ROAD, ORLANDO, FLORIDA 32807
PRICE: $5,420,000 CAP: 5.00% RENT: $271,000
INVESTMENT SUMMARY
L E A S E A B S T R A C T
Lease Type NNN
Lease Term 20 Years
Lease Start* August 2018
Renewal Options 4x5
Increases 10% Every 5-years
Roof & Structure Tenant Responsible
* Site is paying rent and lease has commenced, however the site will not bedeliverable until 1stQ 2019 (currently under construction).
2
INVESTMENT HIGHLIGHTSv One of the nation’s largest healthcare providers (S&P BBRated), ranked #63 Fortune 500
v Has expanded past the borders of the U.S. into the UKwith over one hundred and fifty hospitals
v Single story Emergency Room with anticipated completionMarch 2019
v Cared for close to four million patients in 2014 withanother two, or so, million visits to the ER in the state ofFlorida alone
v The subject site is estimated to serve 10,000 patientsper year
v Florida has the second most hospital locations in theCountry
56,215 VPD
295,914 TOTAL POPULATION WITHIN 5-MILE RADIUS
$71,449AVERAGE HOUSEHOLD INCOME WITHIN 5-MILE RADIUS
- N SEMORAN BLVD
N S
EMO
RAN
BLV
D -
56,
215
VPD
1.4577
3
tm
®
Walgreens
McDonald’s
E COLONIAL DRIVE
Orlando VA Medical Center
Orlando VA Outpatient Clinic
Winter Park Memorial Hospital
Florida Hospital
Orange County Public School District
2 Miles
Florida Hospital East
Burger King
Winter Pines Country Club
6.95 Acre in-line retail development under construction with delivery 1stQ 2020
4
E COLONIAL DRIVE
Proposed signalized intersection6.95 Acre in-line retail
development under construction. Scheduled for 1stQ 2020 delivery with 1,000 SF of inline retail and .5 acres earmarked for a ground lease
Projected to receive 10,358 +/- patients
per year upon completion 2019
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6
N SE
MOR
AN B
LVD
(STA
TE R
D 43
6)
HANGING MOSS RD
SITE PLAN
7
HOSPITAL CORPORATIONS OF AMERICA (HCA)Hospital Corporations of America (HCA) is a for-profit health care operator within the United States. HCA stands for the best practices of medicine, using our reach, scale and stability to transform healthcare and help communities thrive. One of the nation’s leading providers of healthcare services, HCA is made up of locally managed facilities that include 178 hospitals and 119 freestanding surgery centers located in 20 U.S. states and in the United Kingdom. Having been founded in Nashville, Tennessee, thanks to Dr. Thomas F. Frist Sr, his son, Jack C. Massey, and Henry Hooker, they immediately wanted to expand and modernize their facilities to accommodate the latest technology and deliver the services that meet the needs of a growing community. Their nurses and clinical staff are highly trained, and physicians affiliated with their facilities represent all major medical and surgical specialties. Being accredited by the Joint Commission as well as names Top Performers on Key Quality Measures, not to mention other accomplishments/achievements, have helped the HCA obtain the reputation it has today. In 2010, HCA announced they were, once again, going public with north of four and a half billion IPO. Just a year later, they sold over one hundred and twenty million shares at thirty dollars per share raising close to four billion which, at that time, was the largest private-equity backed IPO in U.S. history.
In terms of why HCA is a quality healthcare corporation, not only do they operate hundreds of hospitals domestically, but they have expanded
to the United Kingdom and had operated over a hundred hospitals overseas by 2012. With their physicians and nurses constantly working together they share best demonstrated practices in quality and clinical operations and collaborate to create a full continuum of care and specialty services for the communities they serve. With one of their mottos being, “Actions speak louder than words” the HCA is determined to deliver patient-centered healthcare no matter the circumstance. They are truly for the people as demonstrated by Co-Founder Dr. Frist Sr. by stating, “Bricks and mortar do not make a hospital. People do.” HCA has managed to catapult itself to being one of the nation’s leading providers of healthcare services, and even holds joint research projects with corporations like the Center for Disease Control (CDC) and the Harvard Pilgrim Institute (HPI). With their ultimate goals of strengthening communities, the HCA undoubtedly goes above and beyond anyone’s expectations, with employees pledging over eight million to community agencies and volunteering more than thirty-five thousand hours in 2015 alone. Who wouldn’t want HCA backing them?
HCA, the nation’s largest healthcare company broke ground in 9/2017 on a new 64-bed acute care hospital in Oviedo, FL. The new Medical center when it opens is projected to service over 35,000 patients in its first year.
TENANT SUMMARY
Oviedo Medical Center Expansion News Sept 2015 (Click to see article)
OrlandoOrlando
Winter Park
Pine Hills
OrlandoInternational
Airport
Kissimmee
Azalea Park
Union ParkAlafaya
Chuluota
Maitland
EatonvilleLockhart
Hiawassee
Ocoee
ParadiseHeights
Winter Garden
Tildenville
Windermere
Lake Butler Bay HillOak Ridge Pine Castle
Sky Lake
Millenia
Williamsburg
Meadow Woods
BuenaVentura Lakes
SoutheastOrlando
Vista East
Conway
Lake Nona
Lake Hart
Lake BuenaVista
Hunters Creek
CelebrationWindsor Hills
Four Corners
Oakland
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192192
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527A
408408 526
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NASHVILLE, TNHEADQUARTERS
OWNERSHIP INDUSTRY
LOCATIONSFOUNDED
HEALTHCARE
178 HOSPITALS & 119 SURGERY CENTERS1968
PUBLIC
CEO
R. MILTONJOHNSON
PRESIDENT/COO
SAMUEL N. HAZEN
HCA
8
OrlandoOrlando
Winter Park
Pine Hills
OrlandoInternational
Airport
Kissimmee
Azalea Park
Union ParkAlafaya
Chuluota
Maitland
EatonvilleLockhart
Hiawassee
Ocoee
ParadiseHeights
Winter Garden
Tildenville
Windermere
Lake Butler Bay HillOak Ridge Pine Castle
Sky Lake
Millenia
Williamsburg
Meadow Woods
BuenaVentura Lakes
SoutheastOrlando
Vista East
Conway
Lake Nona
Lake Hart
Lake BuenaVista
Hunters Creek
CelebrationWindsor Hills
Four Corners
Oakland
441
441
441
441
192192
414
414
417
417
417
417
530
527A
408408 526
526
527
528
535
417
417429
429
536
528
552
551
408
436
426
551
438
423
423
435
424
429
429
434
420
50
50
15
50
5050
4
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LOCATION HIGHLIGHTS
Over 6 acres of new retail under
development adjacent to the site
The site is to be located at a
proposed signalized intersection.
WINTER PARK, FLORLANDO METROPLEX AREA
56,215 Vehicles Per Day on
N Semoran Boulevard
Thirty Minutes from Universal Orlando
Resort
M A J O R E M P L O Y E R S : 2 0 1 7O R L A N D O , F L
Walt Disney World 74,000
Orange County Public Schools 23,929
Universal Orlando Resort 21,000
Florida Hospital 20,413
Publix Supermarkets Inc. 19,783
Orlando International Airport 18,000
Orlando Health 16,828
University of Central Florida 11,833
Orange County Government 10,532
Seminole County Public Schools 7,596
7 Miles to Downtown Orlando
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Winter Park, Florida, specifically the Baldwin Park area, is one of the most affluent zip codes in Central Florida.
Winter Park is a suburban city within Orlando, Florida. Known for its abundance of outdoor space and civic leadership, Winter Park is considered a very progressive and business friendly city. In the nineteenth century, migrant Muscogee people were the first human residents and they eventually evolved into the popularly known Seminoles (Current mascot of Florida State University). The city didn’t start to develop until the late nineteenth century when railroad tracks connected it to the rest of the state and before long, the rest of the country. Fast forward, the city’s population is growing at a sustainable rate at about 1% a year, increasing its total population, adding the Orlando Metropolitan Population which grew to 2,387,138—the 24th largest city in the US. In 2017, the city added 55 acres of open public parkland. Taxes remains at the same level and have not been raised in 11 years, yet through controlled fiscal governance the city’s general fund increased 20% in 2018.
Winter Park is barely a half hour’s drive from Universal Studios Orlando Resort which is a popular vacation spot for many U.S. citizens, pretty much all throughout the year. Additionally, within Winter Park itself, the Mead Botanical Garden which is close to a fifty-acre park encompasses several ecosystems and is another popular attraction for tourists with many of its structures being more than one hundred years old. Winter Park is also known for its abundance of museums ranging from art museums and sculpture gardens to historical museums and everything in between. Additionally, the city’s summer lasts about six months on average coupled with warm showers occurring mostly in July and August. It’s a cheaper place to live since average rent for most rental apartments is just over one thousand dollars a month which, in comparison to nearby cities, is on the cheaper side of rent. It’s average income per capita is just shy of fifty thousand a year which is more than the state of Florida as a whole. Due to its proximity to the east coast and its beaches, Winter Park, FL has become a tourist attraction as well as a place where natives of Florida want to live due to its above-par living conditions.
WINTER PARK, FL
10
DEMOGRAPHICS / WINTER PARK, FL
295,914Total Population Within 5-Mile Radius
$71,449Average Household Income
Within 5-Mile Radius
$47,656Median Household Income
Within 5-Mile Radius
127,457Total Households Within
5-Mile Radius
16.77% From 2000
11
POPULATION 1 MILE 3 MILES 5 MILES2022 Projection
Total Population 13,003 106,963 308,1092017 Estimate
Total Population 12,158 102,345 295,9142010 Census
Total Population 10,653 92,371 269,555
2000 CensusTotal Population 9,132 85,206 260,060
Current Daytime Population2017 Estimate 29,501 123,972 389,320
HOUSEHOLDS 1 MILE 3 MILES 5 MILES2022 Projection
Total Households 5,864 45,384 134,8602017 Estimate
Total Households 5,382 42,751 127,457
Average (Mean) Household Size 2.13 2.31 2.282010 Census
Total Households 4,712 38,562 116,0242000 Census
Total Households 3,927 35,235 109,148Occupied Units
2022 Projection 5,864 45,384 134,8602017 Estimate 5,710 45,103 136,380
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES2017 Estimate
$150,000 or More 8.20% 8.43% 8.44%
$100,000 - $149,000 9.33% 9.51% 10.08%$75,000 - $99,999 9.31% 9.98% 10.58%$50,000 - $74,999 17.58% 17.84% 18.94%$35,000 - $49,999 15.80% 14.29% 14.40%Under $35,000 39.78% 39.95% 37.57%
Average Household Income $64,240 $69,734 $71,449
Median Household Income $44,047 $45,296 $47,656
Per Capita Income $28,703 $29,427 $30,965
HOUSEHOLDS BY EXPENDITURE 1 MILE 3 MILES 5 MILESTotal Average Household Retail Expenditure $57,681 $58,410 $59,644Consumer Expenditure Top 10 Categories
Housing $15,043 $15,319 $15,723Shelter $11,567 $11,483 $11,621Transportation $8,933 $8,967 $9,174Food $5,864 $5,906 $6,037Personal Insurance and Pensions $4,383 $4,599 $4,768Health Care $3,241 $3,609 $3,781Utilities $3,148 $3,259 $3,354Entertainment $2,615 $2,909 $3,030Apparel $1,689 $1,666 $1,717Household Furnishings and Equipment $1,357 $1,421 $1,474
POPULATION PROFILE 1 MILE 3 MILES 5 MILESPopulation By Age
2017 Estimate Total Population 12,158 102,345 295,914Under 20 19.66% 21.87% 20.69%20 to 34 Years 36.60% 29.35% 27.51%35 to 39 Years 6.77% 6.62% 6.99%40 to 49 Years 11.10% 12.09% 12.91%50 to 64 Years 14.96% 17.25% 18.47%Age 65+ 10.88% 12.83% 13.44%Median Age 31.47 34.18 36.21
Population 25+ by Education Level2017 Estimate Population Age 25+ 8,207 69,520 209,919Elementary (0-8) 1.43% 2.63% 2.78%Some High School (9-11) 7.09% 7.36% 6.57%High School Graduate (12) 20.36% 24.62% 24.61%Some College (13-15) 18.94% 18.86% 19.24%Associate Degree Only 13.32% 10.74% 10.52%Bachelors Degree Only 23.56% 22.65% 23.60%Graduate Degree 13.95% 12.09% 11.71%
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W I N T E R P A R K ( O R L A N D O ) F L O R I D A
LIOR REGENSTREIFSENIOR MANAGING DIRECTOR INVESTMENTS
SENIOR DIRECTOR, NET LEASED PROPERTIES GROUPENCINO OFFICE
Tel: (818) 212-2730Fax: (818) 212-2710
[email protected]: CA 01267761