coeur d`alene, ID - US 95
Transcription
coeur d`alene, ID - US 95
Verizon Wireless coeur d’alene, ID - US 95 coeur d’ a len e, id Highly visible retail store on busy signalized intersection 430 W Hanley Ave, Coeur d’Alene, ID 83815 [ www.CapitalPacific.com ] VERIZON WIRELESS ON HANLEY STREET IN COEUR D’ALENE IS A 3,620 SF SINGLE TENANT BUILIDNG LOCATED AT THE SIGNALIZED INTERSECTION AT US HIGHWAY 95. Investment Highlights Moorehead Communications, doing business as The Cellular Connection, recently signed a brand new ten year NNN lease at this location after buying the operations from previous operator Phones Plus Inc. Moorehead Communications is the largest Verizon Wireless Master Agent in the nation, operating 395 of their own “Premium Retailer” Verizon Wireless stores. Along with other partners and affiliates, Moorehead supports over 550 locations under The Cellular Connection (TCC) banner. TCC was recently recognized by Inc. magazine as one of America’s fastest-growing private companies for the fifth consecutive year. Built in 2010, the building enjoys prime visibility along US Route 95 and convenient access off Hanley Avenue. Located kitty corner to Silver Lake Mall, the Property was the top sales location for Phones Plus Inc. before its acquisition by TCC. Apart from the 30+ retailers at the mall, other nearby retailers include Target, Best Buy, and numerous fast food restaurants. PRICE: $2,182,000 CAP: 5.50% LEASABLE SF. . . . . . . . . . . ±3,620 SF LAND AREA . . . . . . . . . . . . ±14,122 SF LEASE TYPE. . . . . . . . . . . . NNN YEAR BUILT . . . . . . . . . . . . 2010 PARKING. . . . . . . . . . . . . . . ±19 Spaces NEW 10 YEAR NNN LEASE Tenant responsible for taxes, insurance, and maintenance, including roof repairs. Landlord responsible for roof replacement and structure. LEASE SIGNED BY NATIONAL VERIZON WIRELESS PREMIUM RETAILER Moorehead Communications (dba The Cellular Connection) is the largest Verizon Wireless Master Agent in the nation. EXCELLENT VISIBILITY IN PRIME RETAIL AREA Located off busy highway adjacent to regional mall. ADDRESS: 430 W Hanley Ave, Coeur d’Alene, ID 83815 VERIZON WIRELESS - COEUR D’ALENE - US 95 | 2 In The News CELLULAR CONNECTION ACQUIRES PHONES PLUS RETAILERS May 29, 2015 - CDAPress.com The Cellular Connection, the largest Verizon Premium Wireless Retailer in the U.S., announced it has acquired the Phones Plus chain of Verizon Wireless Premium Retailers with 18 stores located across Idaho, Washington, Oregon and Alaska. “ WITH THE ACQUISITION, PHONES PLUS WILL REBRAND AS TCC, AND ALL 90 OF THE VERIZON RETAILER’S EMPLOYEES WILL CONTINUE SERVING THE NEWLY-ACQUIRED TCC STORES, INCLUDING THOSE IN IDAHO IN COEUR D’ALENE, HAYDEN, POST FALLS, LEWISTON, SANDPOINT AND PONDERAY. With the acquisition, Phones Plus will rebrand as TCC, and all 90 of the Verizon retailer’s employees will continue serving the newly-acquired TCC stores, including those in Idaho in Coeur d’Alene, Hayden, Post Falls, Lewiston, Sandpoint and Ponderay. “We warmly welcome these new employees and stores into the TCC family,” said Scott Moorehead, president and CEO of TCC, in the company’s press release. “These stores are well run and their dedicated teams share our values for serving the community and delivering superior customer service. We want to retain these teams and build on their past successes as we introduce many more customers to the TCC experience.” TCC was recently recognized by Inc. magazine as one of America’s fastest-growing private companies for the fifth consecutive year. Its long-standing relationship with Verizon Wireless coupled with its buying power allows the company to make its services more accessible to customers while offering unparalleled customer service and competitive pricing. “We have known and respected TCC for years and believe this combination is the next logical step for our business,” said Chris Cheeley, former president of Phones Plus. “Joining TCC presents excellent opportunities for our employees and ensures that our customers continue to receive excellent service and high quality products.” Link to article VERIZON WIRELESS - COEUR D’ALENE - US 95 | 3 Aerial 95 SURROUNDING RETAIL Applebee’s Del Taco Discount Tire Store Dutch Bros. Coffee Kohl’s MacKenzie River Pizza Michaels OfficeMax Olive Garden Panda Express Papa Murphy’s Petco Pier 1 Imports Rite Aid Ross Starbucks Target T.J. Maxx ULTA Valentino’s Pizza Wendy’s W PRAIRIE AVE 38,000 DAILY SILVER LAKE MALL 95 W HANLEY AVE VERIZON WIRELESS 10,000 DAILY Financial Analysis PRICE $2,182,000 Capitalization Rate: 5.50% NET OPERATING INCOME SUMMARY SCHEDULED INCOME Scheduled Rent: 8/1/2015 Rent Increases Through: 8/1/2016 Equals: Effective Gross Income Per SF $33.15 $0.00 $33.15 Per SF Less: OPERATING EXPENSES CAMS Property Taxes Insurance Total Operating Expenses NNN Equals: NET OPERATING INCOME 8/3/2015 $120,000 $0 $120,000 NNN NNN NNN $120,000 [ www.CapitalPacific.com ] < 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. Buyer must verify the information and bears all risk for any inaccuracies. > VERIZON WIRELESS - COEUR D’ALENE - US 95 | 5 Rent Roll CDA (10) RR RENT SUMMARY TENANT INFO TERM Tenant Name Size Date Monthly Rent Verizon - The Cellular Connection (Moorehead Communications, Inc.) 3,620 5/1/2015 $10,000 5/1/2020 $10,500 5/1/2015 5/1/2021 $10,605 4/30/2025 5/1/2022 $10,711 5/1/2023 $10,818 5/1/2024 $10,926 5/1/2025 $11,036 Occupancy Date : Lease Expiration : Option 1 Percent Increase Annual Rent PSF Cap Rate $120,000 $33.15 5.50% 5.0% $126,000 $34.81 5.77% 1.0% $127,260 $35.15 5.83% 1.0% $128,533 $35.51 5.89% 1.0% $129,818 $35.86 5.95% 1.0% $131,116 $36.22 6.01% 1.0% $132,427 $36.58 6.07% $38.45 6.38% $40.41 6.70% $42.47 7.05% $33.15 5.50% 1% annual increases Option 2 $11,599 5/1/2030 $139,182 1% annual increases Option 3 5/1/2035 $12,190 Option 4 5/1/2040 $12,812 $146,282 1% annual increases $153,744 1% annual increases Lease Notes Comments: Landlord reponsible for roof replacement and maintenance and repair of foundation and structure. Current Totals: 3,620 $10,000 $120,000 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. Buyer must verify the information and bears all risk for any inaccuracies. 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. Buyer must verify the information and bears all risk for any inaccuracies. 7/27/2015 VERIZON WIRELESS - COEUR D’ALENE - US 95 | 6 [ www.CapitalPacific.com ] < > Site Plan SITE PLAN KEY PARCEL OUTLINE: LAND AREA: ±14,122 SF BUILDING AREA: ±3,620 SF INGRESS/EGRESS: 38,000 DAILY Site Plan Not To Scale Highway 95 W Hanley St. VERIZON WIRELESS - COEUR D’ALENE - US 95 | 7 Area Intel & Demos VERIZON WIRELESS COEUR D’ALENE AREA OVERVIEW Coeur d’Alene is the largest city and county seat of Kootenai County, Idaho. It is the principal city of the Coeur d’Alene Metropolitan Statistical Area and has the second largest metropolitan area in the state of Idaho. 1-Mile radius The city of Coeur d’Alene has grown significantly in recent years, in part because of a substantial increase in tourism, encouraged by several resorts in the area. 3-Mile radius Coeur d’Alene is a resort town, with the Coeur d’Alene Resort taking up a prominent portion of the city’s downtown. It is also located near two major ski resorts, with Silver Mountain Resort to the east in Kellogg, and Schweitzer Mountain Ski Resort to the north in Sandpoint. POPULATION 2010 2015 2020 5-Mile radius 1-Mile3-Mile5-Mile 6,009 49,859 73,684 6,071 53,634 79,000 6,325 57,498 84,519 COEUR D’ALENE, ID SPOKANE, WA 2015 HOUSEHOLD INCOMES Median Average 1-Mile3-Mile5-Mile $44,703 $42,340 $44,049 $54,920 $54,837 $57,513 33.5 Miles 36 Min A unique HUMAN RESULTS-DRIVEN client experience THE CAPITAL PACIFIC EXPERIENCE - OUR DAILY COMMITMENT TO OUR CLIENTS [ www.CapitalPacific.com ] SEAN MACK MICHAEL HORWITZ SEAN TUFTS PETER DUNN [email protected] | (503) 675-8378 [email protected] | (206) 743-8468 [email protected] | (503) 675-8381 [email protected] | (503) 607-0197 [ Copyright © 2015 Capital Pacific LLC ] KEVIN ADATTO [email protected] | (503) 675-7726