investment offering

Transcription

investment offering

INVESTMENT
OFFERING
Alderwood RV Resort & Self Storage
14007 N. Newport Highway
Mead, WA 99021
Confidentiality Agreement
Alderwood RV Resort & Self Storage • 14007 N. Newport Highway • Mead, WA 99021
SIGN AND RETURN VIA EMAIL OR FAX TO:
Trevor Caster – Caster Investment Group, 533 E. Riverside Drive – Ste. 104, Eagle, ID 83616
Email: [email protected] - Fax: 208-493-1044
In connection with the offering of the approximately 109 space RV Resort and approximately 117 unit Self Storage Facility known
as Alderwood RV Resort located at 14007 N . Newport Highway, Mead, WA 99021 (the “Property”) for sale by Caster Investment
Group, the undersigned has requested copies of the investment offering package for the Property (such package, together with
any other documents or information provided through Caster Investment Group [its “Agent”] regarding the Property being
referred to collectively below as the “Information”).
Caster Investment Group is or will be furnishing the Information to the undersigned on the condition that the undersigned will keep
the information confidential.
In consideration of the foregoing and other good and valuable consideration, the undersigned hereby agrees that it will keep the
Information confidential, and the Information shall not be disclosed to anyone other than the Potential Purchaser’s partners,
employees, legal counsel and institutional lender (who the undersigned shall require to keep the Information confidential, “Related
Parties”), for the purpose of evaluating the potential purchase of the property. The undersigned further agrees to promptly
return all original copies of the documents included in the Information received by the undersigned, and all photocopies of such
documents made by the undersigned and its Related Parties, to Caster Investment Group if requested to do so in writing.
Please do not visit the Property without prior express permission.
Please do not contact on-site personnel or tenants.
The undersigned hereby agrees to not enter the Property and to not contact any on-site personnel or tenants or Property Owner
in any way either directly or through Related Parties without prior receipt of express permission from Owner.
Potential Purchaser hereby indemnifies and holds harmless Property Owner, its Agent and their respective affiliates and successors
and assigns against and from any damage, loss, liability or expense, including attorney’s fees, arising out of any breach of any of
the terms of this agreement.
The undersigned certifies that all information relative to this offering will not be disseminated to or used by any principals, agents
or parties other than those stated hereunder. Potential Purchaser is acting as a Principal and hereby represents that no other
broker or agent is involved on the Potential Purchaser’s behalf. Your signature below confirms that you have accepted this registration.
POTENTIAL PURCHASER:
By: __________________________________________________
Address: ___________________________________________
Print Name: __________________________________________
___________________________________________
Title: ________________________________________________
Telephone: _________________________________________ Date: ________________________________________________
Fax: _______________________________________________ Company: ____________________________________________
Email: _____________________________________________
Idaho • Washington • Oregon • Utah • California
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Phone: 208-938-4000 | Fax: 208-493-1044
533 E. Riverside Dr. Ste. 104, Eagle, ID 83616
Executive Summary
Alderwood RV Resort & Self Storage
109 Space RV Resort
117 Unit Self Storage Facility
14007 N. Newport Highway
Mead, WA 99021
Offering Highlights
•
Actual 7.9% Cap Rate and 9.9% Pro Forma
•
Ideal City and Recreational Location
•
Steadily Climbing Income with Huge Upside
•
Class A RV Storage and Self Storage
Offering Price: $3,400,000
Location: On N. Newport Highway just north of Spokane and the new Spokane Corridor U.S. 395 Freeway
RV Resort Property Description
•
109 space full service sites include: water, sewer, electric, WIFI, Cable TV, garbage, no pet fee, and brick patios
•
Alderwood RV Resort is open YEAR ROUND to Daily, Weekly and Extended Stay Guests
•
Beautiful landscaping between each site provides a private park setting and maximum privacy
•
Walking trail and open field for dog walking
•
Common guest area has a year-round indoor heated pool, gazebo, BBQ, atrium, playground, large lawn area for
sports and games, a recreational room complete with flat screen TV, pool table and games
•
Wireless internet and 42 channels of cable TV through out the park
•
Full service clubhouse includes 24 hour laundry access, showers and rest room facilities
•
Large Pull-Thrus for RV’s up to 70 ft
•
Front desk, Mini Mart, mail and package delivery service provided daily
•
Propane & Dump station
•
RV Resort is adjacent to Mini Storage facility
•
Closest Spokane RV Resort to lakes, fishing, and scenic mountains of Washington, North Idaho & Canada
•
Good Sam Club, AAA, Welcome Woodall’s, and AARP approved
Self Storage Property Description
•
Total Units:117
•
Rentable Square Feet:
44,370
•
Building Construction: All metal
•
Doors:Overhead roll-up
•
Fencing:
Decorative & secure perimeter fencing
•
Gate:
Automatic gate with keycode secure entry
The information presented has been obtained from sources believed reliable. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors
omissions. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You are responsible for confirming its accuracy and completeness.
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photographs
Phone: 208-938-4000 | Fax: 208-493-1044
Aerial Image
E DE
ER
RD
E HIGHLAND RD
N NE
WPOR
T
HWY
The information presented has been obtained from sources believed reliable. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors omissions.
Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You are responsible for confirming its accuracy and completeness.
4
Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
5
Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Photos
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Phone: 208-938-4000 | Fax: 208-493-1044
Property Maps
Phone: 208-938-4000 | Fax: 208-493-1044
Locator Map
SPOKANE
VALLEY
SPOKANE
MEAD
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Phone: 208-938-4000 | Fax: 208-493-1044
Locator Map
SPOKANE
R
C
E ORRIDO
AN
OK
P
N S
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Phone: 208-938-4000 | Fax: 208-493-1044
Locator Map
E MT SPOKANE PARK DR
T
OR
WP
N
NE
AY
W
GH
HI
MEAD
R
C
E ORRIDO
AN
OK
P
N S
SPOKANE
SPOKANE
VALLEY
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Phone: 208-938-4000 | Fax: 208-493-1044
Locator Map
DR
N MARKET ST
E MT SPOKANE PARK
WY
TH
R
PO
EW
N SP
OK
NN
AN
E C
OR
R
MEAD
ID
OR
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Phone: 208-938-4000 | Fax: 208-493-1044
Site Map
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Phone: 208-938-4000 | Fax: 208-493-1044
Area Information & Demographics
Phone: 208-938-4000 | Fax: 208-493-1044
Mead, WA Area Description
Alderwood RV Resort & Self Storage • 14007 N Newport Highway • Mead, WA 99021
MEAD, WA - is an unincorporated suburb and designated area
north of Spokane in Spokane County, and as of the 2010 Census the population of Mead was 7,275, with the surrounding
Spokane County population exceeding 462,000. The City of
Spokane is the urban center for this region and is the hub of
the Inland Northwest. Government and private enterprise,
along with arts and entertainment, education, and healthcare
continue to make Spokane County a great place to learn, play,
work and live. The local economy is diverse and leans heavily on stable industries such as manufacturing, government,
healthcare and education. Emerging industries in the area
include aerospace and clean technology. Travel is quick and
convenient with Spokane International Airport located just 30
minutes away.
EDUCATION - The Spokane region offers a diverse group of
higher education institutions, with over 62,000 students enrolled at community colleges, regional and research universities and two nationally recognized private schools. The largest being Washington State University-Spokane and Pullman,
Eastern Washington University in Cheney and Gonzaga University in Spokane.
MEDICAL CENTERS - Providence Sacred Heart Medical Center & Children’s Hospital is one of the largest hospitals in the
Northwest, employing more than 4,000 health care professionals Sacred Heart provides the expertise and skills of over
800 specialists and primary care doctors. Key services offered include Cardiac and Heart Care, Cancer and Oncology,
Sacred Heart Children’s Hospital, Neurology and Stroke Care,
and Women’s Health and Maternity Care. Providence is also a
national leader in heart and kidney transplant services and is a
major training facility for robotic heart surgery.
ATTRACTIONS - The Spokane region’s four-season climate
and sunny sky’s bring year-round recreation opportunities.
From rock climbing and bike riding to river rafting and fishing,
the Spokane area is truly the outdoor enthusiast’s playground.
The Spokane River runs through the heart of downtown, and
includes numerous hiking and biking trails. Winter sports are
also accessible within an hour’s drive of downtown. Just 40
minutes from downtown Spokane, Mt. Spokane offers skiing
and other winter related activities for both winter enthusiasts
and families alike. Other favorite ski spots include 49 Degrees
North, Lookout Pass, Silver Mountain, Bald Mountain, Cottonwood Butte, Snowhaven, Bluewood and Schweitzer Mountain.
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Phone: 208-938-4000 | Fax: 208-493-1044
US 395 North Spokane Corridor Project
US 395 NSC Project
This project completed the interchange and relieved congestion at Parksmith Road near the Mead community, north of Spokane.
It included final grading, gravel sub-surface, and final paving of the northbound and southbound on and off ramps. Most of the
basic grading of the ramps was a component of an earlier NSC grading project. The Parksmith interchange project was the final
component in the northern 5 mile section of the North Spokane Corridor. The interchange provides connectivity to the retail and
residential Mead community as well as the nearby commercial and industrial property, adding convenient and direct access to
the City of Mead and to Alderwood RV Resort and Self Storage.
25
Phone: 208-938-4000 | Fax: 208-493-1044
US 395 NSC Project Map
Alderwood
RV Resort
Self Storage
• 14007 CORRIDOR
N. Newport Highway • Mead, WA 99021
US 395
NORTH
SPOKANE
NICKEL CONTRACTS
Nickel Contracts - Completed
Nickel Contracts - Under Construction
TIGER Grant Southbound Lanes &
Parksmith Projects - Under Construction
Future NSC Alignment
Pedestrian Bike Path - Completed
Pedestrian Bike Path - Under Construction
Future Pedestrian Bike Path
$612M
S
were
kel”
n Funding
ed and
ue). It’s
two
estrian path
leted in
opening
of the NSC
tion started
arwell
nal Lanes
ding for
d with a
portation
Economic
his two
completion
southbound
is/Freya and
constructing
even
ut; thus
six lane NSC
conditions
hbound
as received
e Parksmith
phase of the
in orange).
project will
CIS
SUBJECT
PROPERTY
LEGEND
$482M
$130M
TIGER GRANT PROJECT
PARKSMITH
SPOKANE RIVER
TO FRANCIS
SEE OTHER
SIDE FOR
STAGING PLAN
& PRELIMINARY
ESTIMATE
ting designs
to the Francis
d in project
ion dollars.
uisitions are
aluation for
ncis section
1.
ontinue
Distributor
s beginning
011.
I-90
Printed 5-23-2011
26
Phone: 208-938-4000 | Fax: 208-493-1044
Site Map
Site Map
Mead, WA
14007 N Newport Hwy, Mead, WA, 99021, RV Resort
Ring: 3, 5, 10 Miles
Latitude: 47.78432
Longitude: -117.354019
September 09, 2013
©2013 Esri
27
Phone: 208-938-4000 | Fax: 208-493-1044
Traffic Count Map
Traffic Count Map
Mead, WA
Ring: 3, 5, 10 Miles
Latitude: 47.78432
omissions. AnySource:
projections,
opinions,
assumptions
estimatesSolutions
used are for
example
only and
dod.b.a.
not represent
the current or future performance of the property. You are responsible for confirming its accuracy and completeness.
©2011
MPSI
(Market or
Planning
Inc.)
Systems
Inc.
DataMetrix®
©2013 Esri
28
September 09, 2013
Phone: 208-938-4000 | Fax: 208-493-1044
Traffic Count Profile
Traffic Count Profile
Prepared by Trevor Caster
Mead, WA
Ring: 10 miles radius
Distance:
0.03
Latitude: 47.78432
Street:
Closest Cross-street:
Year of Count:
Count:
N Newport Hwy
E Deer Rd (0.03 miles SW)
2006
25,000
0.18
N Market St
E Mount Spokane Park Dr (0.03 miles N)
1997
12,000
0.19
N Market St
E Deer Rd (0.11 miles N)
2004
8,204
0.27
E Mount Spokane Park Dr
E Chris Ct (0.06 miles W)
2006
9,400
0.41
N Newport Hwy
N Market St (0.02 miles S)
2006
27,000
0.63
N Newport Hwy
E Lane Park Rd (0.08 miles N)
2006
26,000
0.78
N Newport Hwy
E Lane Park Rd (0.07 miles S)
2006
24,000
0.84
E Farwell Rd
N Sheridan St (0.0 miles E)
2004
11,017
0.85
N Shady Slope Rd
E Emily Ln (0.15 miles N)
2004
3,315
1.02
N Market St
E 4th Ave (0.08 miles S)
2004
13,525
1.10
N Shady Slope Rd
E Farwell Rd (0.09 miles S)
2004
1,441
1.13
E Farwell Rd
N Shady Slope Rd (0.04 miles W)
2004
7,135
1.15
N Newport Hwy
E Day Mt Spokane Rd (0.08 miles N)
2005
23,000
1.24
E Leona Dr
N Shady Slope Rd (0.01 miles E)
2004
2,391
1.29
1st Ave
E 1st Ave (0.16 miles W)
2004
2,854
1.37
N Newport Hwy
E Day Mt Spokane Rd (0.14 miles S)
2005
21,000
1.44
E Peone Rd
N Morrill Dr (0.14 miles W)
2002
3,365
1.54
E Day Mt Spokane Rd
N Fairview Rd (0.08 miles W)
2004
6,290
1.59
N Market St
Grace St (0.11 miles N)
2004
12,329
1.67
E Farwell Rd
N Pittsburg St (0.06 miles E)
2004
12,652
1.70
N Little Spokane Dr
N Lantern Ln (0.02 miles NE)
2004
3,622
1.78
N Little Spokane Dr
E Golden Dr (0.03 miles S)
2004
2,793
1.78
N Parksmith Dr
E Stoneman Rd (0.05 miles E)
2004
3,237
1.80
N Newport Hwy
E Greenbluff Rd (0.07 miles S)
2005
21,000
1.83
E Stoneman Rd
N Morrill Dr (0.02 miles E)
2004
2,385
1.97
E Peone Rd
N Nelson Ln (0.15 miles W)
2004
3,499
2.03
N Market St
E Hawthorne Rd (0.2 miles SW)
2004
11,283
2.05
N Cincinnati Dr
N Columbus St (0.02 miles NE)
2004
1,103
2.07
N Parksmith Dr
E Graves Rd (0.1 miles NE)
2004
4,283
2.08
N Newport Hwy
E Winchester Ave (0.27 miles SW)
2006
25,000
Data Note:The Traffic Profile displays up to 30 of the closest available traffic counts within the largest radius around your site. The years of
the counts in the database range from 2011 to 1963. Just over 68% of the counts were taken between 2001 and 2011 and 86% of the counts
Phone:
| Fax:
208-493-1044
were taken in 1997 or later. Traffic counts are
identified by the street on which they were recorded, along
with208-938-4000
the distance and
direction
to
E. count
Riverside
Dr. Ste.
ID 83616
the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A533
traffic
is defined
as104,
the Eagle,
two-way
Average Daily Traffic (ADT) that passes that location.
29
Source: ©2011 MPSI Systems Inc. d.b.a. DataMetrix®
Executive Summary
Executive Summary
Mead, WA
Ring: 3 mile radius
3 miles
Latitude: 47.784319516
Longitude: -117.3540194
5 miles
10 miles
Population
2000 Population
16,646
44,008
239,224
2010 Population
2012 Population
18,666
53,733
262,001
19,434
21,036
55,366
58,875
266,484
277,944
1.15%
2.02%
0.91%
1.81%
1.60%
1.34%
1.24%
0.76%
0.85%
49.0%
51.0%
48.0%
52.0%
49.3%
50.7%
42.2
37.6
35.4
2017 Population
2000-2010 Annual Rate
2012 Male Population
2012 Female Population
2012 Median Age
In the identified area, the current year population is 266,484. In 2010, the Census count in the area was 262,001. The rate of change since
2010 was 0.76% annually. The five-year projection for the population in the area is 277,944 representing a change of 0.85% annually from
2012 to 2017. Currently, the population is 49.3% male and 50.7% female.
Median Age
The median age in this area is 35.4, compared to U.S. median age of 37.3.
Race and Ethnicity
2012 White Alone
93.6%
90.4%
2012 Black Alone
0.6%
1.1%
87.3%
2.1%
2012 American Indian/Alaska Native Alone
1.0%
1.4%
1.9%
2.3%
2012 Asian Alone
1.3%
2.2%
2012 Pacific Islander Alone
0.2%
0.5%
0.5%
2012 Other Race
0.6%
1.0%
1.4%
2012 Two or More Races
2.7%
3.4%
4.5%
2012 Hispanic Origin (Any Race)
3.2%
4.2%
5.2%
Persons of Hispanic origin represent 5.2% of the population in the identified area compared to 16.9% of the U.S. population. Persons of
Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from
different race/ethnic groups, is 31.1 in the identified area, compared to 61.4 for the U.S. as a whole.
Households
2000 Households
5,648
16,671
96,566
2010 Households
6,632
20,602
105,304
2012 Total Households
6,896
21,150
106,993
2017 Total Households
7,477
22,539
112,101
1.62%
2.14%
0.87%
1.75%
1.17%
0.71%
1.63%
1.28%
0.94%
2.81
2.53
2.41
2012 Average Household Size
The household count in this area has changed from 105,304 in 2010 to 106,993 in the current year, a change of 0.71% annually. The fiveyear projection of households is 112,101, a change of 0.94% annually from the current year total. Average household size is currently 2.41,
compared to 2.41 in the year 2010. The number of families in the current year is 63,867 in the specified area.
Data Note: Income is expressed in current dollars
Phone: 208-938-4000
Source: U.S. Census Bureau, Census 2010 Summary
File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
| Fax: 208-493-1044
September 09, 2013
30
©2013 Esri
Page 1 of 2
Executive Summary
Executive Summary
Mead, WA
Ring: 10 mile radius
3 miles
Latitude: 47.784319516
Longitude: -117.3540194
5 miles
10 miles
Median Household Income
2012 Median Household Income
2017 Median Household Income
Average Household Income
$70,036
$78,943
2.42%
$52,703
$61,244
3.05%
$40,543
$46,583
2.82%
$81,380
$91,358
2.34%
$67,924
$76,921
2.52%
$54,718
$61,773
2.46%
2012 Per Capita Income
2017 Per Capita Income
$29,304
$32,935
$27,139
$30,613
$22,973
$25,901
2.36%
2.44%
2.43%
2012 Average Household Income
2017 Average Household Income
Per Capita Income
Households by Income
Current median household income is $40,543 in the area, compared to $50,157 for all U.S. households. Median household income is
projected to be $46,583 in five years, compared to $56,895 for all U.S. households
Current average household income is $54,718 in this area, compared to $68,162 for all U.S households. Average household income is
projected to be $61,773 in five years, compared to $77,137 for all U.S. households
Current per capita income is $22,973 in the area, compared to the U.S. per capita income of $26,409. The per capita income is projected to
be $25,901 in five years, compared to $29,882 for all U.S. households
Housing
2000 Total Housing Units
2000 Owner Occupied Housing Units
5,823
5,136
17,633
11,481
103,702
59,582
2000 Vacant Housing Units
512
175
5,190
962
36,984
7,136
6,910
5,748
21,912
13,433
113,269
63,885
2010 Renter Occupied Housing Units
884
278
7,169
1,310
41,419
7,965
7,180
5,923
974
22,547
13,571
7,579
115,532
63,348
43,645
284
7,751
6,442
1,035
274
1,397
23,957
14,612
7,927
1,418
8,539
120,775
66,737
45,363
8,674
Currently, 54.8% of the 115,532 housing units in the area are owner occupied; 37.8%, renter occupied; and 7.4% are vacant. Currently, in
the U.S., 56.5% of the housing units in the area are owner occupied; 32.1% are renter occupied; and 11.4% are vacant. In 2010, there
were 113,269 housing units in the area - 56.4% owner occupied, 36.6% renter occupied, and 7.0% vacant. The annual rate of change in
housing units since 2010 is 0.88%. Median home value in the area is $158,797, compared to a median home value of $167,749 for the U.S.
In five years, median value is projected to change by 0.11% annually to $159,711.
Data Note: Income is expressed in current dollars Idaho • Washington • Oregon • Utah • California
Phone: 208-938-4000
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017. Esri converted Census 2000 data into 2010 geography.
| Fax: 208-493-1044
31
©2013 Esri
September 09, 2013
Page 2 of 2
Broker Information
Caster Investment Group • 533 E. Riverside Drive Ste. 104 • Eagle, ID 83616
Phone: 208-938-4000 | Fax: 208-493-1044
Global Reach
Caster Investment Group • 533 E. Riverside Dr. Ste. 104 • Eagle, ID 83616
Caster Investment Group
Caster Investment Group Real Estate Advisors was launched by Trevor Caster to provide a level of specialization, customization
and client service beyond what can be provided by local agents and national franchises. Mr. Caster has established an unparalleled
track record of integrity by consistently creating value through superior representation for his clients.
Mr. Caster has acted as the primary agent representing the Seller and/or the Buyer in over $200,000,000 of commercial real
estate transactions and has been a participating senior member of brokerage groups during the sale of over $1,000,000,000 of
commercial real estate.
Creating value through superior
representation. - Douglas C. Cancienne
33
Phone: 208-938-4000 | Fax: 208-493-1044

investment offering

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