Cutler Bay Tire S Dixie Hwy, Cutler Bay, FL OFFERING MEMORANDUM

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1 Cutler Bay Tire S Dixie Hwy, Cutler Bay, FL OFFERING MEMORANDUM

2 CONFIDENTIALITY & DISCLAIMER STATEMENT This Marketing Brochure contains select information pertaining to the business and affairs of Cutler Bay Tire located at S Dixie Hwy, Cutler Bay, FL here to referred to as Property. Information in this Marketing Brochure is confidential and provided solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose and may not be made available to any other person without the written consent of the Seller or Matthews Retail Group, Inc. This Marketing Brochure has been prepared by Matthews Retail Group, Inc. (also known as Matthews Retail Advisors) based in part upon information supplied by the Seller and in part upon financial information obtained from sources deemed reliable by Matthews Retail Group, Inc. However, Matthews Retail Group, Inc. has not and will not verify any of this information, nor has Matthews Retail Group, Inc. conducted any investigation regarding these matters. Matthews Retail Group, Inc. makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. 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 the Buyer s thorough due diligence investigation of this investment opportunity. Matthews Retail Group, Inc. expressly denies any obligation to conduct a due diligence examination of this Property for the 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 the Buyer depends on factors that should be evaluated by the Buyer and their tax, financial and legal advisors. Buyer and Buyer s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any property to determine to their satisfaction the suitability of the Property for their investment goals. 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 performance. 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 the Seller and Matthews Retail Group, Inc. of any and all liability and hold the parties harmless from any kind of claim, cost, or expense arising out of your investigation and/or purchase of this Property. NON-ENDORSEMENT NOTICE Matthews Retail Group, Inc. is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this Marketing Brochure. 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 Matthews Retail Group, Inc., its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Matthews Retail Group, Inc., and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ii

3 TABLE OF CONTENTS PRICING AND FINANCIAL ANALYSIS Investment Overview Financial Overview Company Overview PROPERTY DESCRIPTION Property Overview Bird s Eye Tenant Map Regional Map DEMOGRAPHICS Demographics Report City Overview PRESENTED BY Braden Crockett Senior Associate License No O M braden.crockett@matthews.com Andy Knight Broker of Record License No iii

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5 PRICING AND FINANCIAL ANALYSIS

6 Investment Overview INVESTMENT HIGHLIGHTS PROPERTY DETAILS 6 Bay Auto Service Facility for sale inclusive of all equipment Ideal retail footprint of just under 7,000 SF Attractive 2nd Story Storage Room for additional Inventory Recently Painted in 2014 (± $10,000) and extensive interior renovations to the showroom, bathroom and office in 2009 (± $20,000) Strong Upward Trend in Sales at this location. LOCATION Conveniently Located on S DIxie Hwy with over 46,000 Cars Per Day Located Right Across from the Southland Mall Close Proximity to the Brand New Walmart Supercenter located less than 1-mile from the subject property Numerous Anchor tenants including Southland Mall, Publix, Target, Kmart, and Walmart provide for longevity of this location Entrance to the Southland Mall is directly across the street from Subject site ADDITIONAL INFORMATION New 132-Unit Apartment Complex proposed just south of the Southland Mall on S.W. 214th Street Southland Mall Anchor Tenants Include: Sears, Macy s, JC Penney, Regal Cinemas, TJ Maxx, L.A. Fitness and more Reportedly Top Performing Publix in vicinity Trade Area Commands High Rental Rates for investors 2

7 Financial Overview EXECUTIVE SUMMARY S Dixie Hwy Cutler Bay, FL List Price $1,400,000 Gross Leasable Area ,953 SF Price/SF $ Year Built Lot Size ± 0.30 Acres ( 13,000 SF) TENANT SUMMARY Current Tenant Trade Name Cutler Bay Tire Type of Ownership Vacant EXPENSE SUMMARY AMOUNT Taxes +/- $8, Insurance +/- $1, CAM +/- $1, Total +/- $11, TRAFFIC COUNTS Collection Street Cross Street Amount Dixie Hwy SW 112th Ave 46,769 3

8 Comparable Sales & Market Rents SUBJECT PROPERTY Close of Escrow TBD Sales Price $1,650,000 Price/SF $ Year Built Gross Leasable Area ,953 SF Lot Size /-0.30 AC ((13,000 SF) 3 DAY CARE CENTER S Dixie Hwy, Cutler Bay, FL Close of Escrow /30/2015 Sales Price $1,750,000 Price/SF $ Year Built Gross Leasable Area ,380 SF $42,344 Average Income in 1-Mile Radius 46,000 Cars Per Day on Dixie Hwy Close proximity to Southland Mall $41,000 Average Incomes in a 1-Mile Radius 250,000 people in a 5-Mile Radius Adjacent Parcel to the North of the property Exact Same Demographics, Traffic Counts Etc. 1 OLIVE GARDEN S Dixie Hwy Cutler Bay, FL Close of Escrow /17/2015 Sales Price $5,460,000 Price/SF $ Annual Rent $285,012 Cap Rate % Rent/SF $37.81/SF Year Built Gross Leasable Area ,537 SF 4 BURGER KING S Dixie Hwy Miami, FL Close of Escrow /30/2014 Sales Price $1,980,000 Price/SF $ Annual Rent $108,900 Cap Rate % Rent/SF $30.25/SF Year Built Gross Leasable Area ,600 SF Directly Across the Street from Subject site Rent of $37.82/SF 20 Years NNN Lease Strong Rent/SF Similar Trafficked Location. In the near vicinity of subject site. 2 FAST FOOD BUILDING S Dixie Hwy Miami, FL Close of Escrow /20/2014 Sales Price $1,000,000 Price/SF $ Year Built Gross Leasable Area ,317 SF TENANT RENT SF RENT/SF SIGN DATE Buffalo Wild Wings - Cutler Bay $422,520 7,042 $60.00/SF May 2008 Tokyo Seafood Buffett $212,800 5,320 $40.00/SF Aug 2008 Smaller Footprint in inferior retail corridor Higher Price/SF Similar Location Chase Bank $183,725 7,349 In Line Space SW 137th In Line Space S Dixie Hwy $134,928 5,622 $25.00/SF (Ground Lease) $24.00/SF (Modified Gross) Jan 2014 Oct 2013 $108,000 6,000 $18.00/SF (NNN) July

9 PROPERTY DESCRIPTION

10 Property Overview THE OFFERING Property Name Cutler Bay Tire & Auto Service Property Address S Dixie Hwy Cutler Bay, FL Assessor s Parcel Number Zoning BU-1A SITE DESCRIPTION Number of Stories One Year Built Gross Leasable Area (GLA) ,953 SF Lot Size ± 0.30 Acres ( 13,000 SF) Type of Ownership Fee Simple Parking ± 15 Surface Spaces Parking Ratio : 1,000 SF Landscaping Professional Topography Generally Level CONSTRUCTION Foundation Concrete Slab Framing Wood Parking Surface Asphalt Roof Flat 6 PROPERTY DESCRIPTION

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12 Bird s Eye S Dixie Hwy ±46,800 ADT 8

13 Tenant Map 9 PROPERTY DESCRIPTION

14 Regional Map 10

15 DEMOGRAPHICS

16 Demographics Report Population 1-Mile 3-Mile 5-Mile 2021 Projection 23, , , Estimate 22, , , Census 20, , , Census 20,488 93, ,705 Growth % 7.34% 7.43% Growth % 10.42% 8.33% Growth % 27.46% 21.97% Households 2021 Projection 8,055 42,658 80, Estimate 7,699 40,653 76, Census 7,074 36,932 70, Census 6,905 29,023 58,039 Growth % 4.93% 5.02% Growth % 10.08% 8.01% Growth % 27.25% 22.06% Income $0 - $15, % 13.43% 11.34% $15,000 - $24, % 12.46% 10.81% $25,000 - $34, % 10.83% 10.10% $35,000 - $49, % 13.17% 13.05% $50,000 - $74, % 19.39% 18.05% $75,000 - $99, % 12.86% 13.01% $100,000 - $124, % 7.82% 8.88% $125,000 - $149, % 4.21% 5.41% $150,000 - $199, % 3.21% 4.90% $200,000 - $249, % 0.99% 1.71% $250,000 - $499, % 1.34% 2.30% $500, % 0.3% 0.45% 2016 Est. Average Household Income $41,723 $63,602 $74, Est. Median Household Income $30,894 $50,122 $55, DEMOGRAPHICS

17 City Overview CUTLER BAY, FLORIDA A few miles south of Miami, Cutler Bay is an incorporated town in Miami- Dade County. Once a railroad town, Cutler Bay is now a thriving suburban community less than an hour s drive south of Miami, and only half an hour away from Miami International Airport. Cutler Bay continues to preserve the past with attractions such as the Deering Estate at Cutler, which is an environmental, archaeological and historic preserve that offers unique opportunities to experience Florida s natural resources. MIAMI, FLORIDA Miami has always been the commercial and cultural center for Florida and the nearby Caribbean, but in the past 30 years it has emerged as a worldclass international hub and a gateway for all of Latin America. Imports, exports and international financial trade with Latin countries make up a far larger part of the economy resulting in the development of a large banking industry as well as cargo transport and warehousing. TOP EMPLOYERS - MIAMI, FLORIDA 1. Miami Dade County Public Schools 2. Miami Dade County Government 3. United States Federal Government 4. Florida State Government 5. Publix Supermarkets 6. Baptist Health South Florida 7. Jackson Health System 8. University of Miami 9. American Airlines 10. Alorica 13

18 Cutler Bay Tire S Dixie Hwy, Cutler Bay, FL OFFERING MEMORANDUM Braden Crockett Senior Associate License No O M braden.crockett@matthews.com Andy Knight Broker of Record License No Apollo Street, Suite 150 El Segundo, CA