sagebrush office park

SAGEBRUSH OFFICE PARK
2601 – 2613 Sagebrush Drive, Flower Mound, TX
$4,125,000 - $143.00/SF
Vintage Realty
Rich Muller – 972/355-0669
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SAGEBRUSH OFFICE PARK
Table of Contents
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
Property Details ………………………………………………………………………………………………………………….. 3
Investment Summary ………………………………………………………………………………………………………….. 4
Property Photographs …………………………………………………………………………………………………………... 5-6
Aerials …………………………………………………………………………………………………………………………………… 7-8
Financial Summary ……………………………………………………………………………………………………………….. 9
Rent Roll ……………………………………………………………………………………………………………………………….. 10
Survey …………………………………………………………………………………………………………………………………… 11
Confidentiality & Disclaimer …………………………………………………………………………………………………. 12
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SAGEBRUSH OFFICE PARK
Property Details
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
PROPERTY
4 single-story garden office buildings
SIZE
28,817 SF
LAND AREA
3.692 Acres (160,840 SF)
LEGAL
Lot 5R-B-R, Lot 1, Coker Addition, Abs.1161, Town of Flower Mound, Denton County, TX
PARKING
123 SPACES (4.27/1000)
CONSTRUCTION
Wood frame, brick veneer, composition shingle roof
YEAR BUILT
1999
OCCUPANCY
99%
NOI
$370,293
CAP RATE
8.98%
PURCHASE PRICE
$4,125,000 ($143/SF)
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SAGEBRUSH OFFICE PARK
Investment Summary
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
The Property was purchased out of a bank foreclosure 3 years ago with less than a 50% occupancy. Since then, the Owner has revamped all of the
landscaping – repainted and re-carpeted the interior of all the suites/common areas and rebuilt portions of the exterior entrances plus stained all
of the exposed wood. The Owner has also paid particular attention to the HVAC systems and changed/upgraded units where needed. It was a
meticulous process that has resulted in the ‘rebirth’ of, what is now, a solid investment opportunity!
The Property is a mix of NNN leases (55.17% of the total square footage) and Executive Suites. The average annual Base Rent/SF for the NNN suites
is $12.00 – and the average annual FSG Rent/SF for the Executive Suites is $21.41.
The office market in Flower Mound has tightened significantly in the last 2 years. Also, there has been no new construction of Executive Suites in
nearly ten years. Obviously, there exists room to move the rents upward to further improve upon the capitalization of this investment.
Since the current Owner took possession of the Property, Vintage Realty & Management has been responsible for its physical revitalization
including the Leasing and Management.
The Property offers the knowledgeable Investor some significant ownership opportunities:
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A strong Class B office investment!
99% occupancy!
An acquisition, per square foot, that is below replacement cost!
The ability to move rents in an upward direction!
A seasoned management and leasing team!
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SAGEBRUSH OFFICE PARK
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
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Property Photos
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SAGEBRUSH OFFICE PARK
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
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PROPERTY AERIALS
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SAGEBRUSH OFFICE PARK
FINANCIAL SUMMARY
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
PRICING OVERVIEW
Price
Gross Leasable Area
Price/SF
Cap Rate – Actual
$4,125,000
28,817 SF
$143.14
8.98%
ANNUALIZED OPERATING DATA
INCOME
Rental Income
CAM Reimbursement – 15,899 SF (55.17%)
$488786
$89,988
$578,774
GROSS INCOME
EXPENSES
Property Taxes
Insurance
Utilities
Repairs and Maintenance
Porter Service
Janitorial
Management Fees
Landscaping
Trash Disposal
Fire Protection
Exterminating
Security
Permits-Fees
TOTAL EXPENSES
$78,010
10,466
44,571
12,500
5,064
8,300
22,446
7,390
4,770
6,730
1,786
4,248
2,200
$208,481
NET OPERATING INCOME
$370,293
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SAGEBRUSH OFFICE PARK
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
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SURVEY
SAGEBRUSH OFFICE PARK
CONFIDENTIALITY & DISCLAIMER
2601, 2605, 2609 & 2613 Sagebrush Drive, Flower Mound, Texas 75028
This Offering Memorandum contains select information pertaining to the
business and affairs of the Sagebrush Office Park, Flower Mound, Texas. It
has been prepared by Vintage Realty, LLC. This Offering Memorandum may
not be all-inclusive or contain all of the information a prospective purchaser
may desire. The information contained in this Offering 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 Owner or Vintage Realty. Owner, nor their officers, employees, or agents
makes any representation or warranty, express or implied, as to the
accuracy or completeness of this Offering 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.
the Property and to terminate discussions with any person or entity
reviewing this Offering Memorandum or making an offer 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
Sagebrush Office Park, Flower Mound, Texas or in the future you
discontinue such negotiations, then you agree to purge all materials relating
to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to the
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 prospective purchaser have any other
claims against Owner and Vintage Realty or any affiliates or any of their
respective officers, directors, shareholders, owners, employees, or agents
for any damages, liability or causes of action relating to the solicitation
process or the marketing for sale of the Property.
By acknowledging your receipt of this Offering Memorandum from Vintage
Realty. You agree:
1. The Offering Memorandum and its contents are confidential;
2. You will hold it and treat it in the strictest of confidence and
3. You will not directly, or indirectly, disclose or permit anyone else to
disclose this Offering Memorandum or its contents in any fashion or
manner detrimental to the interest of the Owner.
This Offering Memorandum shall not be deemed to represent the state of
affairs of the Property or constitute an indication that there has been no
change in the state of affairs of the Property since the date of this Offering
Memorandum.
EXCLUSIVELY LISTED BY:
Rich Muller – President
972/355-0669 X 1
[email protected]
Owner and Vintage Realty expressly reserve the right, at their sole
discretion, to reject any and all expressions of interest or offers to purchase
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