CONFIDENTIAL OFFERING MEMORANDUM +/- 10.23 ACRE SELF … · 2020-04-23 · Property Overview 5 Demographic Summary 6. property summary. Property Description 8 Texas Location Map 9

VANGUARD SELF

STORAGE

CONFIDENTIAL OFFERING MEMORANDUM

+/- 10.23 ACRE SELF-STORAGE

& PARKING FACILITY

7425 S. U.S. HIGHWAY 287

ARLINGTON, TEXAS

DALLAS/FORT WORTH METROPLEX

TABLE OF CONTENTS

EXCLUS I VE LY OFFE RE D BY:

executive summaryInvestment Highlights 4Property Overview 5Demographic Summary 6

property summaryProperty Description 8Texas Location Map 9Mansfield Location Map 10Aerial 11Property Pictures 12Property Aerial 23

financial summaryIncome Expense Summary 25Unit Mix 26

market overviewDFW Market Overview 28Arlington Market Overview 29Demographics 30Statement of Confidentiality & Disclosure 31

section i

section ii

section iii

section iv

trip greenSr. Vice President - Investment Sales

817.377.7763

[email protected]

ALL PROPERTY TOURS SHOULD BE

SCHEDULED THROUGH THE LISTING AGENT.

WE ASK THAT YOU DO NOT DISTURB THE

ON-SITE PERSONNEL.

VANGUARD SELF STORAGE EXECUTIVE SUMMARY

VANGUARD SELF STORAGE // 4

INVESTMENTINVESTMENT OVERVIEWThe Woodmont Company is pleased to present the opportunity to purchase Vanguard Self Storage, located at 7425 S US Hwy 287, Arlington, TX in the Dallas-Fort Worth MSA. The offering is comprised of a mix of self-storage units, covered Boat & RV storage and un-covered parking spaces.

INVESTMENTINVESTMENT HIGHLIGHTS

HIGH PROFILE LOCATIONVanguard Self Storage is a well-established self-storage/boat/RV/parking facility located along US Hwy 287. This is an incredibly high-profile location, midway between Arlington and Mansfield, in one of the fastest growing and most desirable areas in the D/FW Metroplex. US Hwy 287 is a major thoroughfare for retail, commercial and commuter traffic, which provides the facility outstanding exposure to 61,490 vehicles per day.

MULTIPLE INCOME STREAMSThe facility consists of a mix of non-climate controlled self-storage units of varying sizes, covered and non-covered boat and RV storage, and a wide variety of types and sizes of parking spaces. Additional income is generated by a billboard located on the property. The property is located on +/-10.23 acres, however of which, approximately 8 acres are currently being utilized for storage/parking and the remaining 2.23 acres are being utilized for the current owner’s personal residence: +/-2,032/sf, 3BR/3BA house. This provides investors a unique opportunity to either live in the residence, rent out the residence, or develop the +/-2.23 acres into additional storage or parking area.

PROPERTY OVERVIEW

OFFERING PRICE: $2,995,000

TOTAL LAND AREA: 10.23 Acres

NET OPERATING INCOME - CURRENT: $189,194

NET OPERATING INCOME - PRO FORMA: $692,554

CAP RATE - CURRENT: 6.31%

CAP RATE - PRO FORMA: 23.12%

OCCUPANCY (JAN 2020): 90.00%

YEAR BUILT: 1979


PROPERTYPROPERTY OVERVIEW

• FULL SERVICE FACILITY WITH MIX OF SELF-STORAGE, COVERED BOAT/RV/GENERAL PARKING

• HIGH PROFILE LOCATION ON US HWY 287: 61,490 VEHICLES PER DAY

• STRONG DEMOGRAPHICS: 3MI POP. APPROX. 78,000 & AVG. INCOMES +$102,000/YR

• OFFERING INCLUDES +/-2.23 ACRES FOR ADDITIONAL EXPANSION

• LOCATION SERVES ONE OF THE FASTEST GROWING & MOST DESIRABLE AREAS IN D/FW

TRUE VALUE-ADD OPPORTUNITYThis is an outstanding opportunity for investors to take advantage of the facility’s excellent location and to immediately increase NOI by raising occupancy from its current level of 84%, increasing storage capacity by developing the 2.23 acres not currently in use, and/or redeveloping the facility’s entire 10.23 acres into traditional self-storage/boat & RV storage to meet the growing population and commercial demands of the area.

FINANCING OPTIONSThe facility is being offered free and clear of any existing debt, or with assumable financing in place to qualified investors.

ALL PROPERTY TOURS SHOULD BE SCHEDULED THROUGH THE LISTING AGENT.

WE ASK THAT YOU DO NOT DISTURB THE ON-SITE PERSONNEL.


DEMOGRAPHIC SUMMARY - VANGUARD SELF STORAGE

1 MILES1 MILES 3 MILES3 MILES 5 MILES5 MILES

2019 Population 4,948 77,955 213,722

Projected Growth 2019 - 2024 1.5% 0.9% 0.7%

Historical Growth 2010 - 2019 3.2% 1.4% 1.2%

2019 Estimated Household Income $110,718 $101,815 $98,537

DEMOGRAPHICDEMOGRAPHIC SUMMARY

+/- 2.23 ACRES +/- 2.23 ACRES FOR POSSIBLE FOR POSSIBLE

EXPANSIONEXPANSION

US 287 - 61,000 VPDUS 287 - 61,000 VPD

*BOUNDARY LINES ARE APPROXIMATE

VANGUARD SELF STORAGE PROPERTY SUMMARY


PROPERTY:PROPERTY: Vanguard Self Storage

ADDRESS:ADDRESS: 7425 S. US Highway 287 Arlington, TX

TAX PARCEL:TAX PARCEL: 7038364, 07038356, 07038372

ZONING:ZONING: Light Industrial, General Commercial

BUILDING SIZE:BUILDING SIZE: 9,000/SF (Excluding House)

LAND AREA:LAND AREA: 10.23 Acres

OCCUPANCY:OCCUPANCY: 90.00%

YEAR BUILT:YEAR BUILT: 1979

# OF BUILDINGS:# OF BUILDINGS: 3 (Including Owner’s Residence)

STORAGE UNITS:STORAGE UNITS: 35

UNIT SIZES:UNIT SIZES: See Unit Mix

PARKING UNITS:PARKING UNITS: 204

PARKING SIZES:PARKING SIZES: See Unit Mix

ENTRY:ENTRY: Coded Gate

EXTERIOR CONSTRUCTION:EXTERIOR CONSTRUCTION: Masonry & Metal

ROOF:ROOF: Metal

PARKING/DRIVE SURFACE:PARKING/DRIVE SURFACE: Gravel

SECURITY:SECURITY: Gated Entry, Live On-Site Manager, Video Surveillance

ON-SITE MGR. APARTMENT:ON-SITE MGR. APARTMENT: Yes

PROPERTYPROPERTY DESCRIPTION

ALL PROPERTY TOURS SHOULD BE SCHEDULED THROUGH THE LISTING

AGENT.

DO NOT DISTURB THE ON-SITE PERSONNEL.


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LOCATIONLOCATION MAP

VANGUARDSELF STORAGE


LOCATIONLOCATION MAP



AERIAL

JOHN F. KUBALA WATER TREATMENT PLANT

US 2

87

- 61,0

00

VPD

US 2

87

- 61,0

00

VPD




PROPERTYPROPERTY PICTURES


EXPANSIONEXPANSION

US 287 -

61,

000 VPD

US 287 -

61,

000 VPD





EXPANSIONEXPANSION

US 287 - 61,000 VPDUS 287 - 61,000 VPD





EXPANSIONEXPANSION





EXPANSIONEXPANSION

US 287 - 61,000 VPD

US 287 - 61,000 VPD





EXPANSIONEXPANSION

US 2

87

- 61,0

00

VP

D

US 2

87

- 61,0

00

VP

D





EXPANSIONEXPANSION

US 287 - 61,000 VPD

US 287 - 61,000 VPD





EXPANSIONEXPANSIONUS 2

87 - 6

1,000 VP

D

US 2

87 - 6

1,000 VP

D*BOUNDARY LINES ARE APPROXIMATE



ALL PROPERTY TOURS SHOULD BE SCHEDULED THROUGH THE LISTING AGENT.DO NOT DISTURB THE ON-SITE PERSONNEL









OWNER’S RESIDENCE (LOCATED ON 2.23 ACRE PARCEL)


PROPERTYPROPERTY AERIAL

US 287 -

61,

000 VPD

US 287 -

61,

000 VPD


EXPANSIONEXPANSION


VANGUARD SELF STORAGE FINANCIAL SUMMARY


annual operating income current occupancy (present layout)

100% occupied (present layout)

extra parcel converted to covered parking

redeveloped to 100% inside storage units

Inside Storage $46,880 $63,060 $46,880 $1,069,500

Outside Storage $192,947 $211,560 $211,560

Covered Parking Storage $16,009 $17,280 $101,730

Misc. Income $8,333 $8,500 $8,500 $8,500

Rental Income (House) $0 $31,200 $0 $0

Gross Operating IncomeGross Operating Income $264,169$264,169 $331,600$331,600 $368,670$368,670 $1,078,000$1,078,000

Economic Vacancy ($16,580) ($18,434) ($53,900)

Effective Gross RevenueEffective Gross Revenue $264,169$264,169 $315,020$315,020 $350,237$350,237 $1,024,100$1,024,100

annual operating expenses

Repairs & Grounds Maintenance $10,026 $11,029 $13,786 $39,100

Utilities $12,525 $12,525 $15,656 $22,500

Contract Labor (On-Site Manager) $17,870 $17,870 $20,500 $25,000

Insurance $5,780 $5,780 $5,986 $8,350

Property Taxes $14,114 $14,114 $15,964 $214,000

Processing Fees (Credit Card) $8,141 $8,954 $11,193 $8,700

Software Subscription (Site Link) $3,057 $3,057 $3,057 $3,500

Supplies $1,833 $1,833 $1,900 $8,156

Office & Admin. $178 $200 $250 $500

Misc. $1,451 $1,600 $1,700 $1,750

Total Operating ExpensesTotal Operating Expenses $74,975$74,975 $76,962$76,962 $89,992$89,992 $331,556$331,556

net operating income $189,194$189,194 $238,058$238,058 $260,245$260,245 $692,544$692,544

INCOMEINCOME EXPENSE SUMMARY


UNIT UNIT MIXcategory size total units rented units avg mth. rent avg mth. income avg yr. income pro-forma income

Self-Storage Units

30x20 1 1 $325 $325 $3,900 $3,900

12x30 2 2 $197 $394 $4,728 $4,728

10x30 2 2 $210 $420 $5,040 $5,040

20x20 1 1 $270 $270 $3,240 $3,240

10x20 9 9 $136 $1,224 $14,688 $14,688

10x25 4 4 $145 $580 $6,960 $6,960

10x15 3 3 $107 $321 $3,852 $3,852

7.5x10 2 1 $75 $75 $900 $1,800

10x10 1 1 $75 $75 $900 $900

5x10 2 1 $75 $75 $900 $1,800

8x20 7 2 $109 $218 $2,616 $9,156

11x30 1 0 $100 $0 $0 $1,200

6.5x10* 1 0 $70 $0 $0 $840

7x11* 1 0 $79 $0 $0 $948

11x14* 1 0 $99 $0 $0 $1,188

10x18* 1 0 $75 $0 $0 $900

7x10* 1 0 $75 $0 $0 $900

7x13* 1 0 $85 $0 $0 $1,020

Total Self-Storage Units 41 27 $3,977 $47,724 $63,060

Parking Spaces

Covered

Covered RV 5 5 $110 $550 $6,600 $6,600

Covered Boat 10 9 $89 $801 $9,612 $10,680

Total Covered Spaces 15 14 $16,212 $17,280

General Parking Spaces

"Back-In" Parking** 105 98 $80 $7,840 $94,080 $100,800

"Pull-Through" Parking** 46 41 $88 $3,608 $43,296 $48,576

Tractor-Trailer Parking** 21 20 $148 $2,960 $35,520 $37,296

Hot Shot Parking** 17 15 $122 $1,830 $21,960 $24,888

Total General Parking Spaces 189 174 $194,856 $211,560

NOTES:*Interior Lockers located inside main building**Spaces can be adjusted or reconfigured depending on customer needs and availability.

VANGUARD SELF SQUARE MARKET OVERVIEW

4TH LARGEST METRO AREA IN THE UNITED STATES

The Dallas-Fort Worth Metroplex (DFW, the Metroplex) is the largest Metropolitan Statistical Area (MSA) in Texas and the fourth largest in the United States. This dynamic 12-county region is the economic and cultural hub of the region commonly referred to as North Texas or the Metroplex.

PROJECTED 37% POPULATION INCREASE BY 2030

As the nation’s fasting growing metropolitan area, DFW has led population growth over the last decade, adding 1.3 million people – a 25 percent increase. The official 2015 U.S. Census estimate is 7,117,896, an increase of 131,879 residents from the prior year. It is projected that by year 2030, the Dallas/Fort Worth population will increase by an additional 29% to over 9.2 million people living the Metroplex.

DFW LEADS THE NATION IN JOB GROWTH

According to the U.S. Bureau of Labor Statisvtics, total employment in the Dallas-Fort Worth MSA stood at 3,148,400 in October 2014, up 96,100 over the prior year. The DFW MSA consists of two separately identifiable employment divisions within the larger metropolitan area. The Dallas-Plano-Irving Metropolitan Division, which accounted for 70 percent of the area’s workforce, added 77,500 jobs from July a year ago, a gain of 3.7 percent. The Fort Worth- Arlington Metropolitan Division, which accounted for the remaining 30 percent of the area workforce, added 34,300 jobs during the 12-month period, a 3.8 percent increase. Moody’s Economy.com projects consistent positive job growth for DFW over the next five years, adding more than 300,000 jobs; further solidifying DFW as the top metropolitan area in terms of job growth.

STRONG BASE OF CORPORATE HEADQUARTERS

DFW has the 4th largest number of corporate headquarters in the nation and is home to 18 Fortune 500 companies, including 4 Global 500 companies, and 40 Fortune 1000 companies. The 18 Fortune 500 companies collectively brought in more than $813 billion last year. DFW has capitalized on its central U.S. location, unparalleled transportation network, operating and living costs well below the national average, pro-business government, critical mass of existing corporate headquarters and offices, and favorable year-round climate.


DFW MARKETDFW MARKET OVERVIEW


MANSFIELD/ARLINGTONMANSFIELD/ARLINGTON MARKET OVERVIEW

CITY OF ARLINGTON Arlington has a population of approximately 365,000 and it is conveniently located in the center of the Dallas-Ft. Worth Metroplex. Arlington is the home to the 50,000-student University of Texas at Arlington, General Motors Light Truck & SUV Assembly Plant, Dallas Cowboys Stadium, Texas Rangers, and Six Flags Amusement Park.

CITY OF MANSFIELDMansfield is a suburban city located adjacent to south Arlington and almost equidistant to Dallas and Fort Worth. As one of the fastest growing communities in D/FW, Mansfield has seen its population increase by more than double since 2000. Mansfield has been consistently named one of the “Best Places to Live” and is ranked 15th most affluent communities in Texas. UNIVERSITY OF TEXAS AT ARLINGTONThe spring 2017 campus enrollment consisted of 41,933 students making it the largest university in North Texas and fourth largest in Texas. The University is the third largest producer of college graduates in Texas and offers over 180 baccalaureate, masters, and doctoral degree programs. An educational leader in the heart of the thriving North Texas region, The University of Texas at Arlington is a growing Carnegie Research-1 highest research activity powerhouse committed to life-enhancing discovery, innovative instruction, and caring community engagement. With a growing number of campus residents, UTA has become a first-choice university for students seeking a vibrant college experience.

TEXAS LIVE!Texas Live! is a $250 million entertainment development that is expected to be complete in 2018. Dining and entertainment options, plus an all-new 300+ room hotel and event space. Incoming restaurants and attractions will include Granbury-based Revolver Brewery, the iconic Lockhart Smokehouse, and a restaurant from Emmy-award winning chef Guy Fieri. Plus the flagship bar of the Professional Bull Riders, which will be the largest in the country and is even expected to feature two mechanical bulls. The project will be inspired by the country’s leading sports entertainment districts such as The Cordish Companies’ and St. Louis Cardinals’ Ballpark Village in St Louis, but it will be uniquely authentic to Arlington. It has also recently been announced that a new $150 million flagship hotel, Live! by Loews – Arlington, TX, will be the first of its kind in the country, providing guests an unprecedented upscale experience that blends sports and entertainment with first-class hospitality and superior amenities.


DEMOGRAPHICSDEMOGRAPHICS

POPULATION 1 MILE 3 MILE 5 MILE

2019 Estimated Population 4,948 77,955 213,722

2024 Projected Population 5,308 81,532 221,606

2010 Census Population 3,849 68,980 192,819

2000 Census Population 2,854 47,686 142,009

Projected Annual Growth 2019 to 2024 1.5% 0.9% 0.7%

Historical Annual Growth 2010 to 2019 3.2% 1.4% 1.2%

HOUSING

2019 Estimated Households 1,813 26,554 73,558

2024 Projected Households 1,948 27,763 76,146

2010 Census Households 1,400 23,470 66,540

2000 Census Households 919 15,930 49,007

Projected Annual Growth 2019 to 2024 1.5% 0.9% 0.7%

Historical Annual Growth 2010 to 2019 5.8% 5.3% 4.0%

INCOME

2019 Est. Average Household Income $110,718 $101,815 $98,537

2019 Est. Median Household Income $96,071 $86,168 $82,436

2019 Est. Per Capita Income $40,574 $34,682 $33,914

AGE

2019 Est. Median Age 39.1 37.2 37.1

BUSINESS

2019 Est. Total Businesses 58 1,242 3,708

2019 Est. Employees 959 20,531 60,460

The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of enclosed property and is not

to be used for any other purposes. This information should not, under any circumstances, be photocopied or disclosed to any third party without written

consent of The Woodmont Company or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property is The Woodmont Company, and no other

person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure.

If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to The Woodmont

Company.

Neither The Woodmont Company nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the

information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of

the Property. This Offering Brochure may include certain statements and estimates by The Woodmont Company with respect to the projected future

performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be

achieved. Further, The Woodmont Company and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained

in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The

recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate

Purchase and Sale Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these

materials shall not look to Owner or The Woodmont Company, nor any of their officers, employees, representatives, independent contractors, or affiliates,

for the accuracy or completeness thereof. Recipients of the Investment Offering Brochure are advised and encouraged to conduct their own comprehensive

review and analysis of the Property.

This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole

discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate discussions

with any entity at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering

Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms

acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and

agreed to release Owner and The Woodmont Company from any liability with respect hereto.


CONFIDENTIALITY &CONFIDENTIALITY & DISCLOSURE

EXC LUSIVELY OFFERED BY:

WWW.WO ODMON T.C OM

corporate office2100 W. 7th Street

Fort Worth, Texas 76107

817.732.4000

trip greenSr. Vice President - Investment Sales

817.377.7763

[email protected]

dallas office16633 N. Dallas Pkwy, Suite 320

Addison, Texas 75001

214.824.6091

newport beach office620 Newport Center Dr, Suite 1100

Newport Beach, California 92660

949.698.1520

Documents

CONFIDENTIAL OFFERING MEMORANDUM +/- 10.23 ACRE SELF … · 2020-04-23 · Property Overview 5 Demographic Summary 6. property summary. Property Description 8 Texas Location Map 9