View Marketing Doc. - Kohr Royer Griffith

Shoppes on Tremont
3219-3243 Tremont Road
Upper Arlington, Ohio 43221
FOR SALE
$3,300,000
Kohr Royer Griffith
Commercial Real Estate Services
This mixed-use center features 19,659 square feet of retail and six apartments
and is located on Tremont Road across from the redeveloped Kingsdale
Shopping Center.
Paul Bloomfield,
SIOR, CCIM
1480 Dublin Road
614 255 4375
[email protected]
Columbus, Ohio 43215
Eric Morton
FAX 228 1919
614 255 4380
[email protected]
www.krgre.com
614 228 2471
All information furnished regarding property for sale or lease is from sources deemed reliable but not made as to the accuracy thereof, and some is
submitted to errors, omissions or other cancellations, prior sale or lease or withdrawal from market without notice, warranty or representation.
Shoppes on Tremont
OFFERING MEMORANDUM
Kohr Royer Griffith, Inc. has been retained as the exclusive broker by the ownership of SREP Tremont
Association LLC (“Owner”), regarding the sale of this mixed use center located in Upper Arlington, Ohio.
This Offering Memorandum has been prepared by Kohr Royer Griffith, Inc. for use by a limited number of
parties, and does not purport to provide a necessarily accurate summary of the property or any of the
documents related hereto, nor does it purpose to be all-inclusive or to contain all of the information which
prospective investors may need or desire. All projections have been developed by Seller and designated
sources, and are based upon assumptions relating to the general economy, competition and other factors
beyond the control of Seller and, therefore, are subject to variation. No representation is made by Kohr
Royer Griffith, Inc. Commercial or Seller, as to the accuracy or completeness of the information contained
herein, and nothing contained herein is or shall be relied on as, a promise or representation as to the future
performance of the property. Although the information contained herein is believed to be correct, Seller and
its employees disclaim any responsibility for inaccuracies, and expect prospective purchasers to exercise
independent due diligence in verifying all such information. Further, Kohr Royer Griffith, Inc. Commercial,
Seller, or their employees disclaim any and all liability for representations and warranties, expressed and
implied, contained in, or for omission from, the Offering Memorandum or any other written or oral
communication transmitted or made available to the recipient. The Offering Memorandum does not
constitute a representation that there has been no change in the business or affairs of the property or Seller
since the date of preparation of the Offering Memorandum. Analysis and verification of the information
contained in the Offering Memorandum is solely the responsibility of the prospective purchaser.
Additional information and an opportunity to inspect the property will be made available upon written request
to interested and qualified prospective investors. Seller and Kohr Royer Griffith, Inc. each expressly reserve
the right, at their sole discretion to reject any or all expressions of interest or offers regarding the property,
and/or terminate discussions with any entity at any time with or without notice. Seller shall have no legal
commitment or obligations to any entity viewing this Offering Memorandum or making an offer to purchase
the property unless and until such offer is approved by Seller, and the Board of Directors of Seller, a written
agreement for the purchase property has been fully executed, delivered, and approved by Seller, and its
legal counsel, and any conditions to Seller obligations thereunder have been satisfied or waived.
This Offering Memorandum and the contents, except such information which is a matter of public record or
is provided in sources available to the public, are of a confidential nature. By accepting the Offering
Memorandum or any of the contents you will hold and treat it in the strictest confidence, that you will not
photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any
other entity (except to outside advisors retained by you, if necessary, for your determination of whether or
not to make a proposal and from who you will not use the Offering Memorandum or any of the contents in
any fashion or manner detrimental to the interest of Seller and Kohr Royer Griffith, Inc. If you have no
interest in the property at this time, please return the Offering Memorandum forthwith.
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
OFFERING STATEMENT
Property
Shoppes on Tremont
3219 - 3243 Tremont Road
Upper Arlington, OH 43221
Offering Price
$3,300,000.
Price per SF
$167.86
Terms
Cash at Closing
Parcel
070-009354
070-014708
070-014709
070-014710
070-014711
070-014712
070-014713
CAP
7.97%
Acreage
0.878
Size of Development
19,659 Square Feet
Parking
46 spaces
Number of Retail Tenants
5
Number of Residents
6
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
RETAIL TENANTS
Schakolad Chocolate Factory is one of the truly custom
retail chocolate boutiques in the business. Chocolates are
made fresh on the premises.
Core Fitness offers members 24/7 access to their
facilities. They offer personal training, nutritional
coaching and fitness boot camp and core classes.
Starbucks Corporation is the largest coffeehouse company in the
world with 12,848 locations in the United States. Starbucks sells
drip brewed coffee, espresso-based hot drinks, other hot and cold
drinks, coffee beans and variety of food items.
Alfred’s Barber Shop
A privately owned company, established in 1959.
Jimmy John’s is a gourmet sandwich shop. Currently there are
over 1,200 stores open.
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
RENT ROLL
ADDRESS
3219
TENANT
SQFT
MONTHLY
RENT
Schakolad
1,320
$2,250.00
3,500
$3,441.66
3223,3227 & 3231 Core Fitness
WATER
CHARGES
3235
Starbucks
1,750
$5,468.75
3237
Alfreds
1,000
$2,166.67
3241
Jimmy Johns
2,000
$3,083.33
3221
APT TENANT
1,727
$1,449.00
$50.00
3225
APT TENANT
1,727
$1,349.00
$50.00
3229
APT TENANT
1,727
$1,349.00
$50.00
3233
APT TENANT
1,727
$1,449.00
$50.00
3239
APT TENANT
1,727
$1,450.00
$50.00
3243
APT TENANT
1,727
$1,449.00
$50.00
Total Monthly
19,932
$24,905.41
$300.00
$25,205.41
$298,864.92
$3,600.00
$302,464.92
TOTAL ANNUAL
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
FINANCIALS 2011
Gross Potential Income
$302,464.92
Operating Expense Reimbursement
$86,441.98
Gross Adjusted Income
$388,906.90
EXPENSES
Management/ Administrative
Repairs and Maintenance
Landscape/Snow
Utilities
Trash
Property Taxes
Insurance
3%
$9,073.95
$17,777.10
$3,691.70
$16,722.60
$8,829.20
$65,015.56
$4,738.50
TOTAL EXPENSES
$125,848.61
NET OPERATING INCOME
$263,058.29
CAP RATE
Kohr Royer Griffith
Commercial Real Estate Services
7.97%
$3,300,000.00
Shoppes on Tremont
LOCATION
Centrally located in the heart of Upper Arlington, this property offers retail and
residential space. Built in 2007, this highly visible property is located across the
street form the newly renovated Kingsdale Shopping Center with a Giant Eagle
Market District. This site offers easy access to downtown Columbus and the
freeway system. A well placed asset in an affluent suburb of Columbus.
Demographics
Five Mile Trade Area - 2012 Estimate
Population: 291,797
Households: 127,125
Median Age: 32 years
Average Household Income: $61,390
Total Number of Business Firms: 4,638
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
AERIALS
SITE
Kingsdale Shopping
Center
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
PHOTOS
Schakolad
Jimmy John’s
Starbucks
2nd Floor Apt.
Kitchen
2nd Floor Apt.
Living Room
2nd Floor Apt.
Patio
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
SITE PLAN
First Floor — Retail
Second Floor — Residential
Kohr Royer Griffith
Commercial Real Estate Services
Shoppes on Tremont
CONTACT
For Sales Information, Contact:
Paul Bloomfield,
SIOR, CCIM
614 255 4375
[email protected]
Eric Morton
614 255 4380
[email protected]
Kohr Royer Griffith
Commercial Real Estate Services