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PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

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Page 1: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:
Page 2: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

01F I N A N C I A L

O V E R V I E W

02I N V E S T M E N T

O V E R V I E W

03M A R K E T

O V E R V I E W

PAGES 0 3 - 0 8 PAGES 0 9 - 1 7 PAGES 1 8 - 2 4

TABLE OF CONTENTS

Table of Contents

SHOPPESATGREENCASTLE

SHOPPES AT GREENCASTLE

Page 3: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Financial Overview

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

S H O P P E S A T G R E E N C A S T L E | G R E E N C A S T L E , I N1 3 6 0 I N D I A N A P O L I S R O A D

F I N A N C I A L

O V E R V I E W

01

SHOPPES AT GREENCASTLE

Page 4: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

➢ 21,203sf Multi-Tenant Retail Center | Comprised of 11 Suites

➢ Currently 64% Occupied | Strong Upside Potential in Leasing 4 Vacant Suites

➢ National & Local Tenants Including Subway, Jackson

Hewitt, Check Into Cash & Casa Grande

➢ All NNN Leases | Minimal Landlord Responsibility with Tenants Reimbursing for Pro Rata Share of All Expenses

➢ Minimal Lease Rollover Risk | 47% of the GLA Leased until at least December 2023 | 30% of the GLA Leased until February 2025

Executive Summary | 4

ADDRESS:1360 Indianapolis Road, Greencastle, Indiana 46135

PRICE

$2,000,000

CAP RATE

7.26%

NOI

$145,110

Price: $2,000,000

Cap Rate: 7.26%

Gross Leasable Area: 21,203

Price Per Square Foot: $94.33

Year Built: 2001

Lot Size: 3.41 +/- Acres

Pricing

LEASE TYPES

NNN

ACREAGE

3.41 Acres

Demographics

1-Mile 5-Mile 10-Mile

Population 2,089 15,595 33,055

Average HH Income

$64,483 $70,307 $70,895

SQ FOOTAGE

21,203

Investment Highlights

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

SHOPPES AT GREENCASTLE

Page 5: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

SUMMARY

Price: $2,000,000

Down Payment (100%): $2,000,000

Current CAP: 7.26%

Cash on Cash: 7.04%

Square Feet 21,203

Cost per Square Feet: $94.33

Lot Size: 3.41 Acres

CURRENT OPERATING DATA Pro-Forma (90% Occupied)

Scheduled Gross Income: $274,026 $274,026

Tax Reimbursement: $24,464 $33,816

Insurance Reimbursement: $3,118 $4,310

CAM Reimbursement: $26,345 $36,416

Management Reimbursement: $3,962 $3,962

Total Income: $331,915 $352,530

Actual Vacancy: $93,200 28.08% $35,253 10.00%

Gross Operating Income: $238,715 $317,277

Less Expenses: $93,605 $98,150

Net Operating Income: $145,110 7.26% $219,127 10.96%

Capital Reserves ($.20): $4,241 ($.20) $4,241

Loan Payments: $- $-

Pre Tax Cash Flow: $140,870 7.04% $214,886 10.74%

Plus Principal Reduction: $- $-

Total Return Before Taxes: $140,870 7.04% $214,866 10.74%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Operating Statement | 5

EXPENSES

Taxes: $1.80 $38,132

Insurance (Actual): $0.23 $4,860

CAM: $1.94 $41,064

Management Fee: 4.00% $9,549

TOTAL EXPENSES: $93,605

Per Rentable Square Foot $4.41

PROJECTED EXPENSES

Common Area Maintenance

Utilities $12,381

Trash Removal $4,426

Repairs & Maintenance $10,220

Landscaping $9,037

Snow Removal $5,000

Total CAM $41,064

Real Estate Taxes $38,132

Insurance $4,860

TOTAL Expenses: $84,056

UNDERWRITING ASSUMPTIONS

SHOPPES AT GREENCASTLE

Page 6: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Rent Roll | 6

Suite Tenant Sq. Ft.% of GLA

Lease Start

Lease End Monthly Rent Annual RentRent PSF

Esc DateNew Rent

Annual Reimb.

Lease Type

Options

A Subway 2,403 11.33% 12/1/2001 12/31/2023 $3,442.80 $41,313.60 $17.19 $9,526.32 NNN (2) 5-Yr

Option I 1/1/2024 $47,943

Option II 1/1/2029 $54,637

B Vacant 3,400 16.04% $3,116.67 $37,400.00 $11.00 $13,478.77 NNN

D Extreme Tanning 3,000 14.15% 8/23/2001 2/28/2025 $2,805.00 $33,660.00 $11.22 3/1/2020 $36,000 $12,867.70 NNN (1) 5-Yr

Option I 3/1/2025 $42,000

G Vacant 1,800 8.49% $1,950.00 $23,400.00 $13.00 $7,135.82 NNN

H Identity Hair Salon 1,200 5.66% 9/25/2001 2/28/2020 $1,450.00 $17,400.00 $14.50 $5,147.08 NNN (1) 5-Yr

Option I 3/1/2020 $16,800

Option I 3/1/2022 $17,400

IJackson Hewitt/Kibiger

Enterprises1,200 5.66% 2/1/2006 10/31/2020 $1,288.00 $15,456.00 $12.88 7/1/2020 $15,468 $5,147.08 NNN

J Oriental Restaurant 1,200 5.66% 8/1/2004 7/31/2024 $1,300.00 $15,600.00 $13.00 8/1/2021 $16,200 $5,147.08 NNN

K Vacant 1,200 5.66% $1,350.00 $16,200.00 $13.50 $4,757.21 NNN

L Vacant 1,200 5.66% $1,350.00 $16,200.00 $13.50 $4,757.21 NNN

M Check Into Cash 1,200 5.66% 5/1/2004 12/31/2020 $1,383.00 $16,596.00 $13.83 $5,470.80 NNN

N Casa Grande 3,400 16.04% 1/1/2008 2/28/2025 $3,400.00 $40,800.00 $12.00 3/1/2020 $44,200 $14,583.39 NNN (1) 5-Yr

Option I 3/1/2026 $47,600

Current Totals 21,203 100% $22,835 $274,026 $12.92 $88,018

Occupied 13,603 64.16% $15,069 $180,826 $13.29 $57,889

Vacant 7,600 35.84% $7,767 $93,200 $12.26 $30,129

SHOPPES AT GREENCASTLE

Page 7: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Tenant Profiles | 7

Subway is one of the fastest-growing franchises in the world andis a privately held fast food restaurant franchise that primarily sellssubmarine sandwiches and salads. Subway now has more than45,000 stores located in more than 100 countries. More than halfof the stores are located in the United States. Subway is thelargest single-brand restaurant chain and the largest restaurantoperator in the world. Subway’s international headquarters are inMilford, Connecticut, with 5 regional centers supporting thecompany’s international operations.

Headquarters: Milford, Connecticut

No. of Locations: 44,830+

Symbol: Private

Website: www.subway.com

Square Footage: 33,800

Lease Start: December 1, 2001

Lease Expiration: December 31, 2023

Extreme Tanning is now Palm Beach Tan and is known for itsstrives to create a safer tanning process while still achieving theperfect sunbed color. The company has more than 500 locationsand is headquartered in Coppell, Texas. They offer sunbedtanning, spray tanning and several other skin care needs.

Headquarters: Coppell, Texas

No. of Locations: 500+

Symbol: Private

Website: www.palmbeachtan.com

Square Footage: 3,000

Lease Start: August 23, 2001

Lease Expiration: February 28, 2025

SHOPPES AT GREENCASTLE

Page 8: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Tenant Profiles | 8

Jackson Hewitt Tax Service Inc. is the second-largest taxpreparation service in the United States, responsible for preparingover 2 million federal, state, and local income tax returns eachyear. The company is based in Jersey City, New Jersey. Itoperated more than 6,000 franchised and company-ownedlocations including 3,000 located in Walmart stores nationwide.

Headquarters: Jersey City, New Jersey

No. of Locations: 6,000+

Symbol: Private

Website: www.jacksonhewitt.com

Square Footage: 1,200

Lease Start: February 1, 2006

Lease Expiration: October 31, 2020

Check Into Cash is a financial services retailer with more than1,100 stores in 30 states. The company was founded in 1993 inCleveland, Tennessee where the headquarters are locatedtoday. The firm offers payday loans, online payday advances,title loans, bill payment services, check cashing, reloadableprepaid debit cards, and Western Union money transfers andmoney order services.

Headquarters: Cleveland, Tennessee

No. of Locations: 1,100+

Symbol: Private

Website: www.checkintocash.com

Square Footage: 1,200

Lease Start: May 1, 2004

Lease Expiration: December 31, 2020

SHOPPES AT GREENCASTLE

Page 9: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Investment Overview

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

S H O P P E S A T G R E E N C A S T L E | G R E E N C A S T L E , I N1 3 6 0 I N D I A N A P O L I S R O A D

I N V E S T M E N T

O V E R V I E W

02

SHOPPES AT GREENCASTLE

Page 10: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Investment Overview | 10

INVESTMENT HIGHLIGHTS

➢ Next to Walmart Supercenter & the 1+ Million

Square Foot Walmart Distribution Center

➢ Value-Add Opportunity | 64% Occupancy

with Upside in Leasing 4 Vacant Suites

➢ NNN Leases | Minimal Landlord Responsibility

| Tenants Reimburse for Pro Rata Share of All

Expenses

➢ Strong Mix of National & Local Tenants

Including Subway, Palm Beach Tan, Jackson

Hewitt, Check Into Cash & Casa Grande

➢ College Town | DePauw University (2,300

Students) | Campus is 2.5 Miles Away

➢ Minimal Lease Rollover Risk | 47% of the GLA

Leased until at least December 2023 | 30%

of the GLA Leased until February 2025

➢ Greencastle is 34 Miles from Terre Haute

(Home of Indiana State University) & 41 Miles

from Downtown Indianapolis

Marcus & Millichap is proud to present the opportunity to acquire the feesimple interest in the Shoppes at Greencastle located in Greencastle, Indiana.

The Shoppes at Greencastle is a 21,203 square foot multi-tenant retail centerpositioned on 3.41 acres with excellent exposure along Indianapolis Road. Theshopping center sits next to a Buffalo Wild Wings and Dollar General centerand next to the Walmart Supercenter just east of it. There is also a WalmartDistribution Center located directly behind it and a Heartland Automotiveplant as well, which provide strong daytime traffic to Subway and CasaGrande for lunch. The Walmart Distribution Center is a major economic driverin Greencastle, along with the several other large manufacturing plants forcompanies like Heartland Automotive, International Automotive Components,Ascena, Crown Equipment Corporation and Chiyoda USA Corporation. ThePutnam County Regional Airport sits next to the Walmart Supercenter on theeast side of the building.

In addition to the aforementioned economic drivers, Greencastle is also hometo DePauw University which is a private liberal arts college with enrollmentsurpassing 2,300 students. DePauw University is an NCAA Division III school inthe NCAC Conference and is known for its Tiger mascot. DePauw is ranked inthe top tier of national liberal arts colleges by 2019 U.S. News & World Reportas #56 in the United States. The school was also ranked #78 on the Forbesmagazine’s 2016 rankings, which includes all colleges and universities in thecountry.

The Shoppes at Greencastle is a stabilized investment with low lease rolloverrisk and high upside potential. Over 47 percent of the gross leaseable area isleased until at least December 2023 and more than 30 percent is leased untilFebruary 2025. The center is currently 64 percent occupied offering value addin leasing the four vacant suites. The center has a strong mix of national andlocal tenants including Subway, Palm Beach Tan, Jackson Hewitt, Check IntoCash and Casa Grande among others. All leases are triple net leavingminimal responsibility for a future landlord.

SHOPPES AT GREENCASTLE

Page 11: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Property Photos | 11

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

SHOPPES AT GREENCASTLE

Page 12: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Drone Photos | 12

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

SHOPPES AT GREENCASTLE

Page 13: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Drone Aerial | 13 SHOPPES AT GREENCASTLE

Distribution Center

SHOPPES AT GREENCASTLE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Page 14: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Drone Aerial | 14

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

SHOPPES AT GREENCASTLE

Indianapolis Rd (11,215 VPD)

Distribution Center

SHOPPES AT GREENCASTLE

Page 15: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Market Aerial | 15 SHOPPES AT GREENCASTLE

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Putnam CountyRegional Airport

SHOPPES AT GREENCASTLE

Indianapolis Rd (11,215 VPD)

Page 16: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Local Map | 16

2.5 MILES

DePauw

University

1.4 MILES

Putnam Regional

Airport

0.7 MILES

Walmart Distribution

Center

SHOPPES AT GREENCASTLE

Page 17: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Regional Map | 17

123 MILES

Lafayette,

Indiana

41 MILES

Indianapolis,

Indiana

36 MILES

Terre Haute,

Indiana

SHOPPES AT GREENCASTLE

Page 18: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Market Overview

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

S H O P P E S A T G R E E N C A S T L E | G R E E N C A S T L E , I N1 3 6 0 I N D I A N A P O L I S R O A D

M A R K E T

O V E R V I E W

03

SHOPPES AT GREENCASTLE

Page 19: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

Greencastle, Indiana | 19

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260282

Greencastle, Indiana is a city in

Greencastle Township, Putnam County,Indiana and is the county seat ofPutnam County. It is located nearInterstate 70 approximately halfwaybetween Terre Haute (home of IndianaState University) and Indianapolis in thewest-central portion of the state.Greencastle sits conveniently within anhour of Indianapolis, Lafayette,Bloomington and Terre Haute and issurrounded by rich farm land. The cityboasts a mix of industrial andcommercial businesses, with a uniqueblend of recreational opportunities.

Is an NCAA Division III school and is amember of both the Great LakesColleges Association and the NorthCoast Athletic Conference with theirMascot being a Tiger. Greencastle isalso home of an Ivy Tech Community

College campus. Ivy Tech serves morethan 200,000 students annually across40 campuses.

Greencastle ishome to DePauwUniversity, which isa private liberalarts college withenrollment of 2,300students. DePauw

SHOPPES AT GREENCASTLE

GREENCASTLE, INDIANA

Page 20: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015

Marcus & Millichap ACT ID Y0260267

Indianapolis Overview | 20

OVERVIEW

Indianapolis

The Indianapolis metro is situated in central Indiana and consists of 11

counties: Marion, Johnson, Hamilton, Boone, Hendricks, Morgan,

Hancock, Shelby, Brown, Putnam and Madison. The metro lacks

formidable development barriers, except for the several rivers and

creeks that traverse the region. Marion County is home to

Indianapolis, the capital city, which contains a population of

approximately 856,000 people. Carmel in Hamilton County is the

second most populous with nearly 90,000 residents. Population

growth is primarily concentrated to the northern suburbs and west of

the city.

METRO HIGHLIGHTS

PREMIER DISTRIBUTION HUB

Around 50 percent of the U.S. population lies within

a one-day drive of Indianapolis, making it a center

for the transportation of goods.

MAJOR HEALTH SCIENCES CENTER

Eli Lilly & Co., Roche Diagnostics Corp. and

Covance Inc. maintain operations in the region,

among other major health-related employers.

LOW COST OF DOING BUSINESS

Indianapolis’ costs are far below national averages,

attracting businesses and residents to the area.

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

SHOPPES AT GREENCASTLE

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ECONOMY▪ Indianapolis underwent an economic renaissance during the past two decades,

diversifying from a manufacturing-based economy into a variety of other employment

sectors.

▪ The metro is one of the key health-sciences centers in the nation, anchored by several

pharmaceutical and life-sciences companies.

▪ The metro is accessible to a large portion of the nation in one day by ground or air,

making the region a burgeoning logistics and distribution hub.

▪ Annual GMP tops the national level, a trend that is set to persist over the next five years.

SHARE OF 2016 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Eli Lilly & Co

Indiana University Health

Rolls-Royce Corp.

Community Health

Marsh Supermarkets

Kroger

IUPUI

FedEx

Roche Diagnostics

Finish Line* Forecast

MANUFACTURING

9%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+

OTHER SERVICES

4%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

22%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

15%

5%

13% 10% 6%

15%

21

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015

Marcus & Millichap ACT ID Y0260267

MARKET OVERVIEW

Indianapolis Overview | 21

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

SHOPPES AT GREENCASTLE

Page 22: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The metro is expected to add nearly 110,000 people through 2021, which will result

in the formation of nearly 40,000 households, generating demand for housing.

▪ A median home price below the national level has produced a homeownership rate

of 66 percent, which is above the national rate of 64 percent.

▪ Roughly 31 percent of people age 25 and older hold bachelor’s degrees; among

those residents, 11 percent also have earned a graduate or professional degree.

Indianapolis offers residents many big-city amenities in an affordable, small-town

atmosphere. The city is home to several high-profile auto races, including the Indianapolis

500 and Brickyard 400. Races are hosted at the Indianapolis Motor Speedway and the

Lucas Oil Raceway at Indianapolis. The metro has two major league sports teams: the

Indianapolis Colts (NFL) and the Indiana Pacers (NBA). The area also has a vibrant cultural

and arts scene, with more than 200 art galleries and dealers, the Indianapolis Symphony

Orchestra and a variety museums, including the Eiteljorg Museum of American Indians and

Western Art. Additionally, the Children’s Museum of Indianapolis is one of the largest

children’s museums in the world.

36.2

2016MEDIAN AGE:

U.S. Median:

37.7

$53,700

2016 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$54,500

2M

2016POPULATION:

Growth2016-2021*:

5.3%

774K

2016HOUSEHOLDS:

5.6%

Growth2016-2021*:

QUALITY OF LIFE

2016 Population by Age

0-4 YEARS

7%5-19 YEARS

21%20-24 YEARS

7%25-44 YEARS

28%45-64 YEARS

26%65+ YEARS

12%

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

MARKET OVERVIEW

Indianapolis Overview | 22

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

SHOPPES AT GREENCASTLE

Page 23: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

The current year racial makeup of your selected area is as follows:92.91% White, 1.77% Black, 0.04% Native American and 2.35%Asian/Pacific Islander. Compare these to US averages which are:70.20% White, 12.89% Black, 0.19% Native American and5.59% Asian/Pacific Islander. People of Hispanic origin arecounted independently of race.

People of Hispanic origin make up 2.20% of the current yearpopulation in your selected area. Compare this to the US averageof 18.01%.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Demographic Summary | 23

Population

Households

Income

Race and Ethnicity

Employment

In 2018, the population in your selected geography is 15,595. Thepopulation has changed by -0.19% since 2000. It is estimated thatthe population in your area will be 15,747.00 five years from now,which represents a change of 0.97% from the current year. Thecurrent population is 47.85% male and 52.15% female. The medianage of the population in your area is 34.77, compare this to the USaverage which is 37.95. The population density in your area is 198.29people per square mile.

There are currently 5,329 households in your selected geography.The number of households has changed by 1.10% since 2000. It isestimated that the number of households in your area will be 5,458five years from now, which represents a change of 2.42% from thecurrent year. The average household size in your area is 2.46 persons.

In 2018, there are 8,924 employees in your selected area, this isalso known as the daytime population. The 2000 Census revealedthat 50.66% of employees are employed in white-collaroccupations in this geography, and 49.68% are employed in blue-collar occupations. In 2018, unemployment in this area is 5.57%.In 2000, the average time traveled to work was 21.00 minutes.

In 2018, the median household income for your selected geographyis $52,249, compare this to the US average which is currently$58,754. The median household income for your area has changedby 48.06% since 2000. It is estimated that the median householdincome in your area will be $56,400 five years from now, whichrepresents a change of 7.94% from the current year.

The current year per capita income in your area is $25,891, comparethis to the US average, which is $32,356. The current year averagehousehold income in your area is $70,307, compare this to the USaverage which is $84,609.

SHOPPES AT GREENCASTLE

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POPULATION 1 Miles 5 Miles 10 Miles

▪ 2023 Projection

Total Population 2,192 15,747 33,625

▪ 2018 Estimate

Total Population 2,089 15,595 33,055

▪ 2010 Census

Total Population 2,063 15,831 33,276

▪ 2000 Census

Total Population 1,819 15,624 31,329

▪ Current Daytime Population

2018 Estimate 3,085 17,354 26,257

HOUSEHOLDS 1 Miles 5 Miles 10 Miles

▪ 2023 Projection

Total Households 1,060 5,458 11,444

▪ 2018 Estimate

Total Households 998 5,329 11,089

Average (Mean) Household Size 2.28 2.46 2.55

▪ 2010 Census

Total Households 1,001 5,391 11,092

▪ 2000 Census

Total Households 874 5,271 10,585

▪ Occupied Units

2023 Projection 1,060 5,458 11,444

2018 Estimate 1,083 6,004 12,852

HOUSEHOLDS BY INCOME 1 Miles 5 Miles 10 Miles

▪ 2018 Estimate

$150,000 or More 3.64% 5.27% 6.04%

$100,000 - $149,000 11.53% 12.45% 12.16%

$75,000 - $99,999 17.00% 14.31% 16.72%

$50,000 - $74,999 12.21% 20.16% 20.80%

$35,000 - $49,999 16.69% 15.38% 15.74%

Under $35,000 38.93% 32.45% 28.54%

Average Household Income $64,483 $70,307 $70,895

Median Household Income $44,125 $52,249 $56,130

Per Capita Income $31,374 $25,891 $25,436

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to squarefootage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes onlyand do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Services, Inc. © 2015Marcus & Millichap ACT ID ZAA0260358

Demographic Report | 24 SHOPPES AT GREENCASTLEHOUSEHOLDS BY EXPENDITURE 1 Miles 5 Miles 10 MilesTotal Average Household Retail Expenditure

$58,955 $63,161 $66,340

▪ Consumer Expenditure Top 10 Categories

Housing $15,818 $16,549 $17,167

Transportation $10,227 $11,400 $12,047

Shelter $8,927 $9,339 $9,680

Food $6,187 $6,780 $7,118

Personal Insurance and Pensions $5,303 $6,135 $6,667

Health Care $4,930 $5,026 $5,247

Utilities $3,632 $3,799 $3,927

Entertainment $2,551 $2,839 $3,018

Cash Contributions $1,945 $1,870 $1,885

Household Furnishings and Equipment

$1,586 $1,667 $1,752

POPULATION PROFILE 1 Miles 5 Miles 10 Miles

▪ Population By Age

2018 Estimate Total Population 2,089 15,595 33,055

Under 20 23.51% 26.68% 23.91%

20 to 34 Years 16.58% 23.55% 22.59%

35 to 39 Years 5.81% 4.90% 5.59%

40 to 49 Years 10.75% 10.32% 12.03%

50 to 64 Years 18.93% 17.64% 19.91%

Age 65+ 24.43% 16.91% 15.96%

Median Age 44.00 34.77 38.13

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 1,472 9,245 21,673

Elementary (0-8) 2.70% 2.17% 2.32%

Some High School (9-11) 9.78% 9.74% 9.48%

High School Graduate (12) 38.58% 40.20% 41.65%

Some College (13-15) 14.86% 17.82% 21.06%

Associate Degree Only 5.31% 6.17% 7.32%

Bachelors Degree Only 14.38% 11.71% 10.11%

Graduate Degree 14.21% 11.96% 7.77%

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Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has

Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any

information provided.

As the Buyer of a net leased 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. Marcus & Millichap 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 net leased

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 net leased 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 tenant 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 tenant 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 lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be

able to negotiate with a potential replacement tenant 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 Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your

investigation and/or purchase of this net leased property.

NET LEASED DISCLAIMER

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 YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NON-ENDORSEMENT NOTICE

CONFIDENTIALITY & DISCLAIMER

The 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 prepare 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, not 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.

Page 26: PowerPoint Presentation...SUMMARY Price: $2,000,000 Down Payment (100%): $2,000,000 Current CAP: 7.26% Cash on Cash: 7.04% Square Feet 21,203 Cost per Square Feet: $94.33 Lot Size:

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