gallia street retail shops - LoopNet...Gallia Street Shoppes o˜er strong cash ﬂow with long hsitory of tenantcy and lease terms from some of the biggest names in the natonal retail

OFFERING MEMORANDUM

2507-2523 Gallia Street, Portsmouth, Ohio 45662

gallia street retail shops

150 Great Neck Road, Ste. 300, Great Neck, New York, 11021

confidentiality agreement

CONTACT US

Lic. Real Estate BrokerO +1 516 926 3325F +1 516 708 9682C +1 917 903 [email protected]

STEVEN KOUTSANTONIS

This O�ering Memorandum contains select information pertaining to the business and a�airs of the property located at 2507-2523 Gallia Street, Portsmouth, Ohio 45662 (“Property”). It has been prepared by Cedar William. This O�ering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this O�ering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Cedar William. The material is based in part upon informa-tion supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Cedar William, nor their o�cers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this O�ering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this O�ering Memorandum for the Property, you agree:

1. The O�ering Memorandum and its contents are confidential;2. You will hold it and treat it in the strictest of confidence; and3. You will not, directly or indirectly, disclose or permit anyone else to disclose this O�ering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Cedar William expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or o�ers to purchase the Property and to terminate discus-sions with any person or entity reviewing this O�ering Memorandum or making an o�er to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this O�eringMemorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospec-tive purchaser have any other claims against Seller or any of their a�liates or any of their respective o�cers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This O�ering Memorandum shall not be deemed to represent the state of a�airs of the Property or constitute an indication that there has been no change in the state of a�airs of the Property since the date this O�ering Memorandum.

CEDAR WILLIAMOFFERING MEMORANDUM

PORTSMOUTH, OHIOGALLIA STREET SHOPS

propertyoverview

construction overview

Cedar William, as the exclusive advisor to the Owner, is pleased to present the opportunity to acquire 100% fee simple interest in 78,608 Square Foot Multi Tenant Retail Stip Center. Made up of a mix of National, tenants, Gallia Street Shoppes is a neighborhood shopping center located in a densely populated and heavily traveled suburb of Ohio.

Gallia Street Shoppes o�er strong cash flow with long hsitory of tenantcy and lease terms from some of the biggest names in the natonal retail makret.

The subject property consists of fifteen parcels of land totaling approxi-mately 9.30 acres. It is improved with two single-story retail buildings containing five tenant spaces totaling 78,608 net rentable square feet (NRSF). The Taco Bell and the Dash Thru Convenience Store, which are owned by a separate entity and operated on a ground lease, is situated onthe southeastern portion of the property. These buildings are not the responsibility of the subject property. The Big Lots/Family Dollar and Save-A-Lot retail buildings were constructed in 1966 are of steel and concrete masonry unit (CMU) construction with painted brick at the public elevation and painted CMU at the rear elevation of the buildings. The prima-ry roofing systems on the Save-A-Lot and Big Lots/Family Dollar retail buildings are flat and covered with a tar and gravel roofing system. The foundations consist of poured concrete slabs on grade. The buildings are heated and cooled by rooftop package units. The property is serviced by municipal water and sewer.

The remainder of the property is improved with asphalt paved and concrete paver driveways, asphalt paved parking areas, concrete sidewalks and land-scaping. The surrounding properties consist of vacant land followed by single-family residential properties to the north, singlefamily residential properties and a church to the east followed by Mabert Road, Gallia Street followed by retail and commercial properties to the south and single-family residential properties followed by Armstrong Place and single-family residential and commercial properties to the west.

Property Address:

County:

Parcel ID:

Gross Leasable Area:

Lot Size:

No. of Buildings/Stories:

Traffic Counts:

Occupancy:

Zoning:

Type of Ownership:

Lease Type:

Parking:


Scioto

33‐2101.000

78,608 Sq. Ft.

9.3 AC | 405,108 Sq. Ft.

Four, One Story Buildings

30,370 VPD

100%

Commercial

Fee Simple

MG, NN, NNN

205 Spaces

financial overview

Cap Rate: 9.5%

Price:

GOI:

Expenses:

In Place NOI:

$4,290,000

$485,584

$77,942

$407,642

expenses financial overview

rent roll

Landscaping

Grounds & Common Area

Parking Lot Sweeping

Roof Repairs

Parking Lot Repairs

Permits

ELC

RET

INS

Mgmt Fee (3%)

Total:

$3,085

$2,193

$7,800

$5,965

$1,476

$139

$4,945

$30,055

$7,716

$14,568

$77,942

Base Rent

CAM Recovery

RE Tax Recovery

Insurance Recovery

Total Revenue

Expenses:

$444,089

$26,669

$14,125

$702

$485,584

$77,942

Price: $4,290,000

NOI: $407,642

Cap Rate: 9.5%



Suite ID

2507

2519

2523

2551

Outlot

Save A Lot

Family Dollar

Big Lots

*Dash Thru Conv. (Ground Lease)

Taco Bell (Ground Lease)

Total:

Tenant

15,000

8,520

47,340

1,200

2,500

74,560

GLA Lease Start

5/28/87

9/1/19

2/10/00

3/6/86

2/1/22

3/1/19

9/26/93

100%

Lease End

8/31/22

8/31/22

12/31/19

1/31/27

1/31/27

2/28/39

8/28/24

Monthly Rent

$5,900

$6,195

$4,575

$22,092

$23,788

$2,000

$2,440

$37,007

Annual PSF

$4.72

$4.96

$6.44

$5.60

$6.03

$20.00

$11.71

Annual Recovery

$11,289

$2,617

$19,806

$2,214

$5,569

41,495

Annual Total

$82,089

$57,520

$284,910

$26,214

$34,851

485,584

Lease Type

Modified Gross

Modified Gross

Modified Gross

NNN

NN

Options

(1) 5 Year

None

(2) 5 Year

None

None

Yearly Rent

$70,800

$74,340

$54,903

$265,104

$285,460

$24,000

$29,282

$444,089

Note: *SpeeDee Center current tenant, pay $1,700 p/m. They've assigned the lease to Dash Thru, who signed a 20 yr term thru 2039 with 3% annual increases*

tenant overview

Save A Lot

Retail

Onex Corporation

Private

1280

130,000

Earth City, Missouri

www.save-a-lot.com

1917

Tenant Summary

Property Name

Property Type

Parent Company Trade Name

Ownership

No. of Locations

No. of Employees

Headquarted

Website

Year Founded



Save-A-Lot Food Stores Ltd. is an American discount supermarket chain headquartered in Earth City, Missouri, near St. Louis, Missouri, United States. The subsidiary of Onex Corporation compris-es more than 1,300 stores across 36 states in the United States with over $4 billion in annual sales.

While stores carry most typical grocery products, they feature less variety than conventional supermarkets. A typical Save-A-Lot is 15,000 square feet (1,400 m2) with items displayed in their cardboard shipping boxes.

Save-A-Lot was founded in 1977 by Bill Moran as an alternative to larger supermarkets. He opened the first Save-A-Lot store in Cahokia, Illinois, and remained with the company until his retirement in 2006. Moran oversaw the expansion of his company from the one Cahokia store to more than 1,000 locations across the country. He was succeeded as President and CEO by Bill Shaner, previously COO of Save-A-Lot. Shaner began his career at Save-A-Lot in 1999 after spending 15 years in the operations division at parent company Supervalu. In May 2011, Bill Shaner was replaced as President and CEO of Save-a-Lot by Walmart veteran Santiago Roces, who most recently served as senior vice president and general manager of Walmart's small format division.

In October 2016, SuperValu sold Save-A-Lot to Onex Corporation.



investment highlights

Great cash flow with long tenant history and renewals.

Investment grade national tenants, Big Lots, Family Dollar, Save A Lot, Taco Bell.

Tra�c counts of 30,70 vpd on Gallia Street.

Great visibility and frontage on retail thoroughfare also known as US Route 52

Save A Lot Anchored with new lease in place until 2027

Portsmouth, OH has a population of 20,393 people and a median household income of

$27,769.





tenant overview

Big Lots

Retail

5.19 Billion

Public | NYSE: BIG

1,416

11,400 | 2016

Columbus, Ohio

www.biglots.com

1967

Tenant Summary

Property Name

Property Type

Revenue

Ownership

No. of Locations

No. of Employees

Headquarted

Website

Year Founded

Big Lots, Inc., which was founded in 1967 and is headquartered in Columbus, Ohio. Through its subsidiaries Big Lots operates as a non-traditional discount retailer within the United States. The company o�ers various products under merchandising categories ranging from food, consumables, soft home products (such as bedding or decor,) hard home products (such as small appliances or home maintenance products), furniture, gardening products, and electronics. During the company’s fourth quarter of 2017, Big Lots reported an increase in it’s sales by 4% to $1.64 billion. Additionally, the Company returned $195.0 million to shareholders, consist-ing of $45.0 million in dividend payments and $150.0 million in share repurchases. Big Lots announced a new stock repurchase program of up to $100.0 million, and increased its quarterly dividend by about 20% to $0.30 per share.







tenant overview

Taco Bell

Quick Service Restaurant

Yum Brands

1.988 Billion | 2015

7,000

Irvine, California

www.tacobell.com

1950

Tenant Summary

Property Name

Property Type


Revenue

No. of Locations

Headquarted

Website

Year Founded

Taco Bell is the nation’s leading Mexican-inspired quick service restaurant (QSR) brand. We serve made-to-order and customizable tacos and burritos, among other craveable choices, and are the first QSR restaurant to o�er American Vegetarian Association (AVA)-certified menu items. Taco Bell and our more than 350 franchise organizations operate nearly 6,500 restaurants across the United States that proudly serve about 40 million customers every week.

We believe everyone deserves the right to Live Más – and we’re constantly inspired by the creativity it takes to get there. We provide access to sports, gaming and new music through our Feed The Beat® music program. We also uncover education opportunities and serve the commu-nity through the Taco Bell® Foundation™, and connect fans to their passions through programs like the Live Más Scholarship program.

Outside of our restaurants, people can always access the Taco Bell brand through our Mobile Ordering and Payment App. In 2014, Taco Bell became the first QSR to launch a mobile app at restaurants nationwide for both drive-thru and dining orders. In addition to the mobile app, people can order their favorite menu items via desktop on Ta.co or for delivery through our partnership with GrubHub.

While Taco Bell is primarily a U.S. brand, Yum! Brands plans to make it the Company’s third global brand. Outside the U.S., we have nearly 300 Taco Bell units in 24 countries, excluding the Yum! China Division.

To learn more about Taco Bell, please visit www.tacobell.com.



tenant overview

Family Dollar

Retail

Dollar Tree

10.5 Billion

8,000

60,000

Matthews, NC

www.familydollar.com

1959

Tenant Summary

Property Name

Property Type


Revenue

No. of Locations

No. of Employees

Headquarted

Website

Year Founded

When it comes to getting value for everyday items for the entire family in an easy to shop, neighborhood location, Family Dollar is the best place to go. One of the nation’s fastest-growing retailers, Family Dollar o�ers a compelling assortment of merchandise for the whole family ranging from household cleaners to name brand foods, from health and beauty aids to toys, from apparel for every age to home fashions, all for everyday low prices. While shoppers can find many items at $1 or less, most items in the store are priced below $10, which makes shopping fun without stretching the family budget.

Family Dollar serves families in more than 8,000 neighborhoods in 46 states. Texas is its largest market with 1,027 stores, followed by Florida with 584 stores. The Dollar Tree merger with Family Dollar now creates a combined organization with sales exceeding $19 billion annually with more than 13,600 stores across 48 states and five Canadian Provinces. The merger has allowed Family Dollar to grow o�ering broader, more compelling merchandise assortments, with greater values, to a wider array of customers.





site planSuite

0314

2507

2519

2523

Outlot

Square Feet

5,248

15,000

8,520

47,340

2,500

Tenant

Dash Thru Convenience

Save A Lot

Family Dollar

Big Lots

Taco Bell

2523Big Lots47,340 SF

2519Family Dollar8,520 SF

314Dash Thru 5,248 SFOutlot

Taco Bell2,500 SF2507

Sav A Lot15,000 SF

*Note: Note To Scale

aerial overview



Portsmouth, OH has a population of 20,393 people with a median age of 36.8 and a median household income of $27,769. Between 2015 and 2016 the population of Portsmouth, OH grew from 20,376 to 20,393, a 0.08% increase and its median household income grew from $27,253 to $27,769, a 1.89% increase.

The population of Portsmouth, OH is 89.4% White, 5.41% Black, and 1.92% Two+. 2.25% of the people in Portsmouth, OH speak a non-English language, and 99% are U.S. citizens.The largest universities in Portsmouth, OH are Shawnee State University, with 749 graduates, Paramount Beauty Academy, with 30 graduates, and N/A, with N/A graduates.

The median property value in Portsmouth, OH is $72,700, and the homeownership rate is 49.9%. Most people in Portsmouth, OH commute by Drove Alone, and the average commute time is 15.4 minutes. The average car ownership in Portsmouth, OH is 2 cars per household.Portsmouth, OH is a census place located in Scioto County, OH. It borders South Shore, KY; New Boston, OH; Rosemount, OH; Sciotodale, OH; and Wheel-ersburg, OH.

area overview




gallia street retail shops

CONTACT US

Lic. Real Estate BrokerO +1 516 926 3325F +1 516 708 9682C +1 917 903 [email protected]

STEVEN KOUTSANTONIS

Documents

gallia street retail shops - LoopNet...Gallia Street Shoppes o˜er strong cash ﬂow with long hsitory of tenantcy and lease terms from some of the biggest names in the natonal retail