24
DALLAS, TX FITZHUGH AVE RETAIL STRIP

FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

  • Upload
    others

  • View
    0

  • Download
    0

Embed Size (px)

Citation preview

Page 1: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

DALLAS, TX

FITZHUGH AVE RETAIL STRIP

Page 2: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

2F INANCIAL ANALYSIS

FITZHUGH AVE RETAIL STRIPPRICING & FINANCIAL ANALYSIS

Fitzhugh Ave Retail Strip2505 Fitzhugh AveDallas, TX 75204

OFFERING SUMMARY

Price $3,900,000

As Is Cap Rate 5.42%

As Is Net Operating Income $211,515

Pro Forma Cap Rate 6.73%

Pro Forma Net Operating Income $262,505

Price PSF $520.00

Occupancy 100.0%

Year Built 1963

Gross Leasable Area 7,500 SF

Lot Size 0.49 Acres

Page 3: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

3F INANCIAL ANALYSIS

FITZHUGH AVE RETAIL STRIPPRICING & FINANCIAL ANALYSIS

INCOME & EXPENSES - AS IS CURRENT PSF

Base Rent - Occupied Space 100% $211,518 $28.20

GROSS POTENTIAL RENT $211,518 $28.20

Expense Reimbursements

CAM Recoveries $12,339 $1.65

Management Fee Recoveries $11,825 $1.58

Insurance Recoveries $7,385 $0.98

Real Estate Tax Recoveries $69,356 $9.25

Total Expense Reimbursements $100,905 $13.45

EFFECTIVE GROSS REVENUE $312,420 $41.66

Operating Expenses

Total CAM $12,339 $1.65

Management Fee $11,825 $1.58

Total Insurance $7,385 $0.98

Total Real Estate Taxes $69,356 $9.25

Total Recoverable Expenses $100,905 $13.45

Net Operating Income $211,515 $28.20

EXPENSES CURRENT PSF

Real Estate Taxes $69,356 $9.25

Insurance $7,385 $0.98

CAM

Administrative $5,019 $0.67

Electricity $540 $0.07

Landscaping $400 $0.05

Light Maintenance $600 $0.08

Misc R&M $1,000 $0.13

Porter/Sweeper $4,380 $0.58

Power Washing $400 $0.05

Total CAM $12,339 $1.65

Management Fee $11,825 $1.58

Total Expenses $100,905 $13.45

As Is

Page 4: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

4F INANCIAL ANALYSIS

FITZHUGH AVE RETAIL STRIPRENT ROLL

Tenant Suite SQ FT % of SQFT Lease Dates Minimum Rent Recoveries Total

Start End Annual Monthly PSF Annual PSF Revenue% of

Revenue

El Come Taco 2513 1,400 18.67% 07/13 07/23 $38,586 $3,215 $27.56 $18,836 $13.45 $57,421 18.38%

El Come Taco 2511 700 9.33% 10/18 10/23 $23,800 $1,983 $34.00 $9,418 $13.45 $33,218 10.63%

Eco Cleaners 2513-100 600 8.00% 01/19 01/24 $18,000 $1,500 $30.00 $8,072 $13.45 $26,072 8.35%

Unique Beauty Salon 2507 700 9.33% 07/10 09/21 $21,433 $1,786 $30.62 $9,418 $13.45 $30,851 9.87%

Trans Dental 2505-100 2,600 34.67% 07/15 08/25 $57,200 $4,767 $22.00 $34,980 $13.45 $92,180 29.50%

Pho Mi 2505 1,500 20.00% 07/17 07/27 $52,500 $4,375 $35.00 $20,181 $13.45 $72,681 23.26%

Total Count/GLA 6 7,500 100% $211,518 $17,627 $100,905 $312,423 100.00%

Occupied 6 7,500 100.0%

Available 0 0 0.0%

Total Avg Rent $28.20 7,500 100.0%

As Is

Page 5: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

5F INANCIAL ANALYSIS

FITZHUGH AVE RETAIL STRIPESTIMATED REIMBURSEMENT REVENUE

Tenant Suite SQ FT % of SQFT CAM Management Fee Insurance Real Estate Taxes Total Recovery

Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF

El Come Taco 2513 1,400 18.67% $192 $1.65 $184 $1.58 $115 $0.98 $1,079 $9.25 $1,570 $13.45

El Come Taco 2511 700 9.33% $96 $1.65 $92 $1.58 $57 $0.98 $539 $9.25 $785 $13.45

Eco Cleaners 2513-100 600 8.00% $82 $1.65 $79 $1.58 $49 $0.98 $462 $9.25 $673 $13.45

Unique Beauty Salon 2507 700 9.33% $96 $1.65 $92 $1.58 $57 $0.98 $539 $9.25 $785 $13.45

Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45

Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58 $123 $0.98 $1,156 $9.25 $1,682 $13.45

TOTALS 7,500 100% $1,028 $985 $615 $5,780 $8,409

Page 6: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

6F INANCIAL ANALYSIS

FITZHUGH AVE RETAIL STRIPLEASE PROVISIONS

Tenant Suite SQ FTBase Rental Increases

Renewal OptionsUser Restrictions & Exclusive Rights

Termination RightsSales

Reporting

Date PSF Options Date PSF

El Come Taco 2513 1,400 - - 1 x 5 8/1/2023 FMV - Tenant has one-time right to terminate with 90 day notice after year 2. Tenant must pay for the 90 day notice period and a cancellation fee equal to the next 6 months rent.

No

El Come Taco 2511 700 - - 1 x 5 11/1/2023 Greater of FMV or 10%

- Yes

Eco Cleaners 2513-100 600 - - - - - - - -

Unique Beauty Salon 2507 700 10/1/2019 10/1/2020

$31.38 $32.17

- - - - - -

Trans Dental 2505-100 2,600 8/1/2021 $22.50 2 x 5 9/1/2025 9/1/2030

FMV not to exceed

105%

Exclusive use in Center General/Pediatric Dental

- Yes

Pho Mi 2505 1,500 8/1/2022 $38.50 2 x 5 8/1/2027 8/1/2032

$43.35 $46.59

- - Yes

TOTAL 7,500

Page 7: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

7F INANCIAL ANALYSIS

FITZHUGH AVE RETAIL STRIPPRICING & FINANCIAL ANALYSIS

INCOME & EXPENSES PRO FORMA PSF

Base Rent - Occupied Space 100% $262,500 $35.00

GROSS POTENTIAL RENT $262,500 $35.00

Expense Reimbursements

CAM Recoveries $12,339 $1.65

Management Fee Recoveries $11,825 $1.58

Insurance Recoveries $7,385 $0.98

Real Estate Tax Recoveries $69,356 $9.25

Total Expense Reimbursements $100,905 $13.45

EFFECTIVE GROSS REVENUE $363,410 $48.45

Operating Expenses

Total CAM $12,339 $1.65

Management Fee $11,825 $1.58

Total Insurance $7,385 $0.98

Total Real Estate Taxes $69,356 $9.25

Total Recoverable Expenses $100,905 $13.45

Net Operating Income $211,515 $28.20

EXPENSES PRO FORMA PSF

Real Estate Taxes $69,356 $9.25

Insurance $7,385 $0.98

CAM

Administrative $5,019 $0.67

Electricity $540 $0.07

Landscaping $400 $0.05

Light Maintenance $600 $0.08

Misc R&M $1,000 $0.13

Porter/Sweeper $4,380 $0.58

Power Washing $400 $0.05

Total CAM $12,339 $1.65

Management Fee $11,825 $1.58

Total Expenses $100,905 $13.45

Pro Forma

Page 8: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

8F INANCIAL ANALYSIS

FITZHUGH AVE RETAIL STRIPRENT ROLL

Tenant Suite SQ FT % of SQFT Lease Dates Minimum Rent Recoveries Total

Start End Annual Monthly PSF Annual PSF Revenue% of

Revenue

El Come Taco 2513 1,400 18.67% 07/13 07/23 $49,000 $4,083 $35.00 $18,836 $13.45 $67,836 18.67%

El Come Taco 2511 700 9.33% 10/18 10/23 $24,500 $2,042 $35.00 $9,418 $13.45 $33,918 9.33%

Eco Cleaners 2513-100 600 8.00% 01/19 01/24 $21,000 $1,750 $35.00 $8,072 $13.45 $29,072 8.00%

Unique Beauty Salon 2507 700 9.33% 07/10 09/21 $24,500 $2,042 $35.00 $9,418 $13.45 $33,918 9.33%

Trans Dental 2505-100 2,600 34.67% 07/15 08/25 $91,000 $7,583 $35.00 $34,980 $13.45 $125,980 34.67%

Pho Mi 2505 1,500 20.00% 07/17 07/27 $52,500 $4,375 $35.00 $20,181 $13.45 $72,681 20.00%

Total Count/GLA 6 7,500 100% $262,500 $21,875 $100,905 $363,405 100.00%

Occupied 6 7,500 100.0%

Available 0 0 0.0%

Total Avg Rent $35.00 7,500 100.0%

Pro Forma

Page 9: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

9PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPTENANT INFORMATION

Tenant El Come Taco

Locations 1

Public/Private Private

Line of Business Established in 2013, El Come Taco brings the roots of Mexico City to Dallas serving the most traditional fresh tacos and drinks based and operated in a family business creating a great atmosphere.

Note El Come Taco owner Luis Villalva is opening a “speakeasy” mezcal bar, La Viuda Negra, attached to El Come Taco. The location will open in early 2019.

Tenant ZRG Concepts

Locations 4 Concepts

Public/Private Private

Line of Business ZRG Concepts is a Dallas-area based restaurant groups with four concepts: ZaLat Pizza, DaLat Restaurant & Bar, ZRG Concepts and Project A.I. The company’s catering services include variety of cuisines, from traditional Vietnamese, to hand-made NYC pizza and Asian fusion.

Tenant transDental

Locations 1

Public/Private Private

Line of Business transDental is a modern, state-of-the-art practice offering Dallas-area patients a full-range of general and cosmetic dental services, from routine check-ups to complete smile makeovers. Dr. Sang Tran and his staff practices conservative, proactive dentistry utilizing the latest in dental technology.

Page 10: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

10PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPINVESTMENT HIGHLIGHTS

• Trophy Location: The Property is Located on Fitzhugh Ave in the Heart of Dallas Surrounding the Knox-Henderson District. This is a High Pride of Ownership Location Minutes from Uptown and Downtown Dallas.

• Below-Market Rents: The Average Rental Rate at Fitzhugh Ave Strip is $28/SF, While Market Rent in the Immediate Trade Area is Leasing at $35/SF.

• Tremendous Trade Area: The Property is Situated in a Dense Infill Location in the Heart of a Thriving Multi-Family and Retail Development Corridor. Surrounding National Retailers include McDonalds, Walgreens, Kroger, LA Fitness, Whataburger, Sprouts and Many More.

• High Foot Traffic: There are Currently Over 6,855 Multi-Family Units in a 1/2-Mile Radius, Including Several Brand New Developments Along Fitzhugh Ave. The Property Benefits from a High Volume of Foot Traffic.

• Extremely High Traffic Counts: US-75 (335,000 VPD) and Fitzhugh Ave (10,660 VPD) Providing an Exceptional Commerce Base.

• Exceptional Demographics: Average Household Income Within a 3-Mile Radius is $112,701, Which is Over 1.5x the National Average Income. The Surrounding Area has Experienced Population Growth Over 19% Since 2010.

• New Roof: The Roofing was Recently Replaced. This will Benefit an Investor as Minimal Capital Improvements Are Likely to be Required in the Near Future.

Page 11: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

11PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPSITE PLAN

Pho

Mi

25052505-100

25072513-10

02511/2513

Trans Dental

El C

om

e Taco

Eco

Cleaners

Uniq

ue Beauty S

alon

Page 12: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

12PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPAERIAL MAP

NORTH DALLAS HIGH SCHOOLWest Village

BEN MILAM ELEMENTARY

SCHOOL

18,5

65

VP

D

19,880 VPD

10,660 VPD

335,

00

0 V

PD

GR

EE

NV

ILL

E A

VE

HEN

DERSO

N AV

E

FITZHUGH AV

E

Page 13: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

13PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPAERIAL MAP

HEN

DERSO

N AV

E

FITZHUGH AV

EAVANA KNOX HENDERSON

182 UNITSEASTON182 UNITS

BELMONT CAMDEN475 UNITS

FITZHUGH URBAN FLATS

452 UNITS

COLE’S MANOR276 UNITS8.7 AC for

REDEVELOPMENT

TRAMELL CROW16 ACRES MIXED USE

2,000 MF UNITSHOTEL, OFFICE & RETAIL

ZONED MF-2

B+F FLATS475 UNITS

50,000 SF RETAILCAMDEN

HENDERSON106 UNITS

STRATA315 UNITS

MONTERREY371 UNITS

VUE FITZHUGH 226 UNITS

METROPOLITAN AT CITYPLACE

170 UNITS

CITYPLACE HEIGHTS

396 UNITS

2660 AT CITYPLACE300 UNITSOAKWOOD

DALLAS UPTOWN232 UNITS

ALARA UPTOWN 294 UNITS

MARQUIS AT WEST VILLAGE

157 UNITS

WEST VILLAGE UPTOWN75 UNITS

MONDRIAN AT CITYPLACE218 UNITS

Page 14: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

14PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPAERIAL MAP

AVANA KNOX HENDERSON

182 UNITS

CAMDENHENDERSON

106 UNITSEASTON

182 UNITSBELMONT CAMDEN475 UNITS

B+F FLATS371 UNITS

FITZHUGH AVE RETAIL

Page 15: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

15PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPLEASE COMPARABLES

Property GLAYr Built/

Renovated Occupancy Major TenantsAvailable

SF Rental Rates NNN

Fitzhugh Ave Retail Strip2505 Fitzhugh AveDallas, TX

7,500 1963 100.0% Eco Cleaners, El Come Taco, Unique Beauty Salon 0 $22.00 - $35.00 $13.45

1The Shops on Henderson2323 N Henderson AveDallas, TX

20,000 1964 100.0% Henderson Tap House, Dallas Lighthouse, Veritas Wine Room 0 $34.00 - $42.00 $15.00

2Greenville Retail Strip1917 Greenville AveDallas, TX

5,660 1929 100.0% Art Studio, WalkWay 0 $32.00 - $36.00 $7.50

3Henderson Retail Strip2918-2920 N Henderson AveDallas, TX

9,000 1929/2006 100.0% Mister Rich, Amy Davis Hair, Salon 0 $35.00 - $40.00 $9.00

4Capitol Center2401-2405 N Henderson AveDallas, TX

6,098 1948/2007 100.0% Capitol Pub, Hideaway 0 $33.00-$35.00 $15.00

Page 16: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

16PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPLEASE COMPARABLES

1 2

3

4

Fitzhugh Ave Retail Strip

1 The Shops on Henderson

2 Greenville Retail Strip

3 Henderson Retail Strip

4 Capitol Center

Page 17: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

17PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPLOCAL MAP

Page 18: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

18PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPREGIONAL MAP

Page 19: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

19PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPMARKET SUMMARY

Dallas encompasses half of the Dallas/Fort Worth Metroplex and is the third-largest city in Texas and the ninth-largest city in the United States. Dallas is home to the third-largest concentration of Fortune 500 companies in the country and is the largest economic center of the Dallas/Fort Worth metropolitan area. The Metroplex has strong submarket occupancy rates, is home to more shopping centers per capita and has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States.

The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area, which had a population of 6,810,913 people as of July 1, 2013. The metropolitan economy is the sixth largest in the United States, with a 2012 real GDP of $420.34 billion. In 2013 the metropolitan area led the nation with the largest year-over-year increase in employment, and advanced to become the fourth-largest employment center in the nation (behind New York City, Los Angeles, and Chicago) with more than three million non-farm jobs. In the

latest rankings released in 2013, Dallas was rated as a “beta plus” world city by the Globalization and World Cities Study Group & Network. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Co-operation and Development. The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies, and the DFW region as a whole has 22.

Dallas is the best-ranked city on the Regulatory Climate Index thanks to its efficient local regulations. Entrepreneurs and small businesses can expect a welcoming business environment across all five areas of local regulation. Dallas scores above average across each meaningful measure of an interaction that a business has with a local government agency through procedure, time, and cost. These rankings reflect the city’s continuing efforts to develop programs and initiatives to strengthen the business environment, provide access to capital, and encourage economic growth at the local level.

Dallas - Fort Worth, TX

2nd

3rd

22

10K

4th

Texas, Fastest Growing Economy in the U.S. (24/7 Wall St.)

Fastest Growing Cities in the U.S. (Forbes)

O V E R V I E W Q U I C K S TAT S

Fortune 500 Companies Call DFW Home (Fortune)

Home to over 10,000 corporate headquarters, making it the largest concentration in the U.S.

Largest Metropolitan Area in the United States

Page 20: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

20PROPERTY DESCRIPTION

FITZHUGH AVE RETAIL STRIPDEMOGRAPHIC STATISTICS

1 MILE 3 MILE 5 MILE

Population:2023 Projection 38,839 214,738 406,2592018 Estimate 36,349 202,567 383,5812010 Census 30,546 176,940 339,603Growth 2018-2023 6.85% 6.01% 5.91%Growth 2010-2018 19.00% 14.48% 12.95%2018 Population Hispanic Origin 15,488 60,148 130,286

2018 Population by Race:White 29,491 163,033 285,872Black 3,864 24,530 69,895Am. Indian & Alaskan 375 1,648 3,695Asian 1,924 9,665 17,502Hawaiian & Pacific Island 55 145 298Other 640 3,547 6,318U.S. Armed Forces: 2 57 133

Households:2023 Projection 19,318 99,713 176,1412018 Estimate 18,106 93,726 166,1482010 Census 15,371 81,199 147,420Growth 2018 - 2023 6.69% 6.39% 6.01%Growth 2010 - 2018 17.79% 15.43% 12.70%Owner Occupied 4,498 33,420 62,207Renter Occupied 13,607 60,307 103,941

2018 Avg Household Income (National Avg - $75,558) $93,095 $112,701 $99,388 2018 Med Household Income (National Avg - $53,889) $65,615 $78,088 $63,703 2018 Households by Household Inc:

<$25,000 3,688 14,349 33,717$25,000 - $50,000 3,185 15,600 33,429$50,000 - $75,000 3,247 15,461 26,009$75,000 - $100,000 2,203 11,762 18,494$100,000 - $125,000 1,782 8,335 12,838$125,000 - $150,000 954 5,551 8,251$150,000 - $200,000 1,130 6,820 9,817$200,000+ 1,915 15,848 23,594

Demographic data © CoStar 2018

Page 21: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.

This offering memorandum has been prepared to provide summary, unverified financial and physical 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. STRIVE 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, PCBs or asbestos, the compliance with local, 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 offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

CONFIDENTIALITY AGREEMENT

Page 22: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

STRIVE hereby advises all prospective purchasers of commercial property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

Commercial Disclaimer

Page 23: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

TYPES OF REAL ESTATE LICENSE HOLDERS:• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Put the interests of the client above all others, including the broker’s own interests;• Inform the client of any material information about the property or transaction received by the broker;• Answer the client’s questions and present any offer to or counter-offer from the client; and• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimumduties above and must inform the owner of any material information about the property or transaction known by the agent, includinginformation disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:• Must treat all parties to the transaction impartially and fairly;• May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and• buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.• Must not, unless specifically authorized in writing to do so by the party, disclose:

ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required

to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov

Information About Brokerage Services

IABS 1-0

Page 24: FITZHUGH AVE RETAIL STRIP - LoopNet · Trans Dental 2505-100 2,600 34.67% $356 $1.65 $342 $1.58 $213 $0.98 $2,004 $9.25 $2,915 $13.45 Pho Mi 2505 1,500 20.00% $206 $1.65 $197 $1.58

469.844.8880 STRIVERE.COM

exclusively listed