Alpha Flex Building - Farmers Branch, TX

ALPHATOPOGRAPHIC FLEX FLEX BUILDING BUILDING FARMERS BRANCH, TX (DFW MSA)

BENRBOOK, TX

DALLAS- FORT WORTH (MSA)

PRI CING & F INAN CI AL AN ALYSI S

ALP H A F LE X B U ILD ING

Alpha Flex Building 4480 Alpha Rd Farmers Branch, TX 75244

OFFERING SUMMARY Price Cap Rate

$3,545,000 6.50%

Net Operating Income

$230,358

Price PSF

$293.56

Occupancy

100.0%

Year Built

2021

Gross Leasable Area

12,076 SF

Lot Size

0.92 Acres

F I N A N C I A L A N A LY S I S

2

PRI CING & F INAN CI AL AN ALYSI S

PROJECTED INCOME & EXPENSES Base Rent - Occupied Space

100%

GROSS POTENTIAL RENT

ALP H A F LE X B U ILD ING

CURRENT

PSF

EXPENSES

CURRENT

PSF

$226,667

$18.77

Real Estate Taxes

$39,126

$3.24

$226,667

$18.77

Insurance

$7,849

$0.65

CAM

Expense Reimbursements Real Estate Tax Recoveries

$39,126

$3.24

General CAM

$21,600

$1.79

Insurance Recoveries

$7,849

$0.65

Misc

$3,000

$0.25

CAM Recoveries

$24,600

$2.04

Total CAM

$24,600

$2.04

Admin Fee Recoveries

$3,690

$0.31

Management Fee

$12,187

$1.01

Management Recoveries

$12,187

$1.01

Total Expenses

$83,762

$6.94

Total Expense Reimbursements

$87,452

$7.24

EFFECTIVE GROSS REVENUE

$314,120

$26.01

Total Real Estate Taxes

$39,126

$3.24

Total Insurance

$7,849

$0.65

Total CAM

$24,600

$2.04

$12,187

$1.01

Total Recoverable Expenses

$83,762

$6.94

Net Operating Income

$230,358

$19.08

Operating Expenses

Management Fee

4.00%

4.00%

For Financing Options, Please Contact: Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com

F I N A N C I A L A N A LY S I S

3

RE NT RO L L

Tenant

ALP H A F LE X B U ILD ING

Suite

SQ FT

% of SQFT

Lease Dates

Minimum Rent

Recoveries

Total

Start

End

Annual

Monthly

PSF

Annual

PSF

Revenue

% of Revenue

Temporary Realty

100

1,021

8.45%

03/23

03/26

$18,078

$1,506

$17.71

$7,082

$6.94

$25,159

8.10%

Graff Interests

104

1,008

8.35%

08/23

09/26

$18,144

$1,512

$18.00

$6,992

$6.94

$25,136

8.10%

Icarus Productions

108

1,023

8.47%

02/23

01/26

$21,074

$1,756

$20.60

$7,096

$6.94

$28,170

9.07%

Pending Tenant

112

1,149

9.51%

-

-

$20,682

$1,724

$18.00

$7,970

$6.94

$28,652

9.23%

Castro1021, LLC [2]

116

1,134

9.39%

04/23

04/25

$21,228

$1,769

$18.72

$7,866

$6.94

$29,094

9.37%

Graff Interests

120

1,109

9.18%

08/23

09/26

$19,962

$1,664

$18.00

$7,692

$6.94

$27,654

8.91%

Revision Designs [3]

124

1,134

9.39%

07/23

08/26

$21,024

$1,752

$18.54

$7,866

$6.94

$28,890

9.31%

FreshQue Foundation

132

1,134

9.39%

02/23

01/26

$21,228

$1,769

$18.72

$7,866

$6.94

$29,094

9.37%

Native Coffee [4]

128

1,134

9.39%

08/23

08/25

$21,228

$1,769

$18.72

$7,866

$6.94

$29,094

9.37%

1,122

9.29%

-

-

$20,196

$1,683

$18.00

$7,782

$6.94

$27,978

9.01%

11/23

11/26

$23,822

$1,985

$21.50

$7,685

$6.94

$31,507

10.15%

Totals

$226,667

$18,889

$310,429

100.00%

Pending Tenant The Tips Club [5]

140

1,108

9.18%

Total Count/GLA

11

12,076

100%

Occupied

11

12,076

100.0%

Available

0

0

0.0%

$18.77

12,076

100.0%

Total Avg Rent

$83,762

[1] Rent Roll as of 8/1/2024 [2] Castro 1021 is currently paying $1,701 per month. The analysis takes their rent bump on 5/1/2024 [3] Revision Designs is currently paying $1,701 per month. The analysis takes their rent bump on 8/1/2024.

[4] Native Coffee is currently paying $1,701 per month. The analysis takes their rent bump on 8/1/2024.

[5] The Tips Club is currently paying $17.54 per month. The analysis takes their rent bump on 11/1/2024.

F I N A N C I A L A N A LY S I S

4

E S TI MATED REIMBUR SEMEN T R EVEN U E

Tenant

Suite

SQ FT

% of SQFT

ALP H A F LE X B U ILD ING

Real Estate Taxes

Insurance

CAM

Admin Fee

Management Fee

Total Recovery

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Temporary Realty

100

1,021

8.45%

$276

$3.24

$55

$0.65

$173

$2.04

$26

$0.31

$86

$1.01

$590

$6.94

Graff Interests

104

1,008

8.35%

$272

$3.24

$55

$0.65

$171

$2.04

$26

$0.31

$85

$1.01

$583

$6.94

Icarus Productions

108

1,023

8.47%

$276

$3.24

$55

$0.65

$174

$2.04

$26

$0.31

$86

$1.01

$591

$6.94

Pending Tenant

112

1,149

9.51%

$310

$3.24

$62

$0.65

$195

$2.04

$29

$0.31

$97

$1.01

$664

$6.94

Castro1021, LLC

116

1,134

9.39%

$306

$3.24

$61

$0.65

$193

$2.04

$29

$0.31

$95

$1.01

$655

$6.94

Graff Interests

120

1,109

9.18%

$299

$3.24

$60

$0.65

$188

$2.04

$28

$0.31

$93

$1.01

$641

$6.94

Revision Designs

124

1,134

9.39%

$306

$3.24

$61

$0.65

$193

$2.04

$29

$0.31

$95

$1.01

$655

$6.94

FreshQue Foundation

132

1,134

9.39%

$306

$3.24

$61

$0.65

$193

$2.04

$29

$0.31

$95

$1.01

$655

$6.94

Native Coffee

128

1,134

9.39%

$306

$3.24

$61

$0.65

$193

$2.04

$29

$0.31

$95

$1.01

$655

$6.94

1,122

9.29%

$303

$3.24

$61

$0.65

$190

$2.04

$29

$0.31

$94

$1.01

$649

$6.94

1,108

9.18%

$299

$3.24

$60

$0.65

$188

$2.04

$28

$0.31

$93

$1.01

$640

$6.94

12,076

100%

$3,261

Pending Tenant The Tips Club Totals

140

$654

$2,050

$307

$1,016

$6,980

F I N A N C I A L A N A LY S I S

5

L E A SE PROVIS ION S

Tenant

ALP H A F LE X B U ILD ING

Suite

Base Rental Increases

SQ FT

Renewal Options

Date

PSF

Options

Temporary Realty

100

1,021

3/1/2025

$18.24

none

Graff Interests

104

1,008

-

-

none

Icarus Productions

108

1,023

2/1/2025

$21.22

none

Pending Tenant

112

1,149

-

-

none

Castro1021, LLC

116

1,134

5/1/2024

$18.72

none

Graff Interests

120

1,109

-

-

none

Revision Designs

124

1,134

08/01/2024 08/01/2025

$18.54 $19.09

none

FreshQue Foundation

132

1,134

2/1/2025

$19.47

none

Native Coffee

128

1,134

8/1/2024

$18.72

none

1,122

-

-

none

1,108

11/1/2024 11/1/2025

$21.50 $22.36

none

Pending Tenant The Tips Club

140

Totals

F I N A N C I A L A N A LY S I S

6

TE NA NT INF ORMAT I ON

ALP H A F LE X B U ILD ING

DBA

Native Coffee Co

Public/Private

Private

Line of Business

Native is based on this idea to live in a constant state of inspiration and passion. Not just to create something good enough to pass, but to keep creating. We believe in the ridiculous.

Ridiculously good coffee + ridiculously good design. The focus should never be solely on making money, but rather on nurturing passion and letting that passion fuel creativity; where everything that you do is done…well, Ridiculously Good.

DBA

The Tips Club

Public/Private

Private

Line of Business

Beat the heat and use our simulator to sharpen your golf game. Get valuable stats like ball speed and distance while also viewing video of your swing. Members have unlimited access.

See how you handle some of the most famous golf courses in the world. Tee it up at Pebble Beach, St. Andrews, Oakmont, Colonial, Royal Birkdale, and many more. Or take your kids out on one of the many par 3 formats. We will donate 5% of you your monthly dues to the nonprofit of your choice. Whether it’s a school Dad’s Club, or your neighborhood pool, play golf and give back.

DBA

FreshQue Foundation

Line of Business

Freshque Foundation strives to improve and maintain the health and nutritional status of school-aged children, by preparing and delivering no-cost after-school third meals in under-resourced and vulnerable populations - still while promoting the development of fresh eating habits with fresh foods and food education. Our core values and beliefs help lead to the development of healthy eating habits while focusing on reducing hunger for school-aged children - in underserved and vulnerable populations.

PROPERTY DESCRIPTION

7

I N VE S TMENT HI GHLI GHT S

ALP H A F LE X B U ILD ING

• Rare Opportunity in a Dallas Infill Location near I-635 and Dallas North Tollway.

• 22.4

Million

SF

in

this

Northwest

Dallas

Submarket at a 90% Occupancy Rate.

• Brand New Construction with Modern Amenities.

• Very Easy to Lease Suite Sizes, ranging from 1,021 SF to 1,149 SF. • Highly Sought After Mixed-Use Area with ability to raise rents. A Recent Lease was Done at $20 PSF, and the Average Rent is $18.08 PSF. • Lease Expiration Dates are staggered creating Low Turnover Risk.

• Most Leases on the Property are 3-Year Terms, Allowing the Owner to Capture Market Rent Rates.

• The Population Within a 5-Mile Radius is over 338,000 People.

• Average Household Income in a 5-mile Radius is $104,676

PROPERTY DESCRIPTION

8

A E R I AL MA P

ALP H A F LE X B U ILD ING

DOWNTOWN DALLAS

W

H E LC

RD

A LP H A R D

MARKET OVERVIEW

9

A E R I AL MA P

ALP H A F LE X B U ILD ING

ADDISON AIRPORT

BELT LINE RD ADDISON TOWN CENTER

BROOKHAVEN COUNTRY CLUB

PARISH EPISCOPAL SCHOOL

ALPHA RD

50,486 VPD

DALLAS COLLEGE BROOKHAVEN CAMPUS

MIDWAY RD

GREENHILL SCHOOL

9,354 VPD DALLAS GALLERIA

FUTURE DALLAS MIDTOWN

SITE PROPERTY

MARKET OVERVIEW

10

LO C AL MA P

ALP H A F LE X B U ILD ING

MARKET OVERVIEW

11

REG IONA L MA P

ALP H A F LE X B U ILD ING

MARKET OVERVIEW

12

M A R KET S U MMARY

ALP H A F LE X B U ILD ING

Dallas - Fort Worth, TX

OVERVIEW Dallas encompasses half of the Dallas-Fort Worth Metroplex and is the third-largest city in Texas and the ninth-largest city in the United States.

Dallas is home to the third-largest concentration of Fortune 500 companies in the country and is the largest economic center of the Dallas-Fort Worth metropolitan area. The Metroplex has strong submarket occupancy rates, is home to more shopping centers per capita and has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States.

The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area, which had a population of 7,573,136 according to the U.S. Census Bureau’s 2019 population estimates. From 2010 to 2019, the DFW Metroplex had the largest numerical population growth of any MSA in the United States.

The metropolitan economy is the fourth-largest and third-fastest growing in the United States, with a 2017 real GDP of $535.5 billion. In 2018, Dallas had both the highest job growth rate and the most jobs added in the nation, and is the fourth-largest employment center in the nation (behind New York

City, Los Angeles, and Chicago) with more than three million non-farm jobs. In the latest rankings released in 2018, Dallas was rated as a “beta plus” world city by the Globalization and World Cities Study Group & Network. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Cooperation and Development. The DFW Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. As of 2020, the city of Dallas has 10 Fortune 500 companies, and the DFW region as a whole has 25.

Dallas is the best-ranked city on the Regulatory Climate Index thanks to its efficient local regulations.

Entrepreneurs and small businesses can expect a welcoming business environment across all five areas of local regulation. Dallas scores above average across each meaningful measure of an interaction that a business has with a local government agency through procedure, time, and cost. These rankings reflect the city’s continuing efforts to develop programs and initiatives to strengthen the business environment, provide access to capital, and encourage economic growth at the local level.

Q U I C K S TAT S

No.

1

4 5th 25

th

10K

Fastest Growing MSA in the U.S. from 2010 to 2019 (U.S. Census Bureau) Largest Metropolitan Area in the United States Fastest Growing Economy in the U.S. (Forbes) Fortune 500 Companies Call DFW Home (American City Business Journals) Home to over 10,000 corporate headquarters, making it the largest concentration in the U.S. MARKET OVERVIEW

13

D E M OG RA PHIC STAT I ST I CS

ALP H A F LE X B U ILD ING

1 Mile

3 Mile

5 Mile

Population

1 Mile

3 Mile

5 Mile

Households:

2010 Population

8,509

109,670

326,868

2010 Households

4,239

50,288

135,446

2023 Population

12,298

104,362

339,584

2023 Households

6,001

46,865

136,510

2028 Population Projection

12,617

100,406

336,202

2028 Household Projection

6,132

44,842

134,535

Annual Growth 2010-2023

3.40%

0.40%

0.30%

Annual Growth 2010-2023

2.70%

0.10%

0.40%

Annual Growth 2023-2028

0.50%

0.80%

0.20%

Annual Growth 2023-2028

0.40%

0.90%

0.30%

Median Age

36.2

38.1

37.8

Owner Occupied

848

16,643

57,011

Bachelor's Degree or Higher

51%

46%

43%

Renter Occupied

5,284

28,199

77,524

U.S. Armed Forces

0

35

208

Avg Household Size

1.9

2.1

2.3

Avg Household Vehicles

2

2

2

Total Consumer Spending

$163.2M

$1.4B

$4.3B

Population by Race White

8,436

79,617

256,968

Black

1,800

13,217

44,335

American Indian/Alaskan Native

107

910

3,420

Avg Household Income

$88,368

$101,943

$104,676

Asian

1,585

8,066

26,898

Median Household Income

$69,780

$71,034

$70,817

Hawaiian & Pacific Islander

13

117

379

< $25,000

578

5,643

16,536

Two or More Races

357

2,436

7,584

$25,000 - 50,000

1,318

10,224

30,297

Hispanic Origin

4,463

35,662

125,488

$50,000 - 75,000

1,415

8,908

25,478

$75,000 - 100,000

796

5,835

15,742

Housing

Income

Median Home Value

$374,478

$398,506

$396,466

$100,000 - 125,000

690

4,350

12,169

Median Year Built

1997

1981

1982

$125,000 - 150,000

408

3,097

8,659

$150,000 - 200,000

503

3,052

8,917

$200,000+

294

5,757

18,712

Demographic data © CoStar 2023

MARKET OVERVIEW

14

CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a commercial property, 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 your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for 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 commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.

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 success. 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 tenants 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 tenants 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 leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants 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 STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

Information About Brokerage Services Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

• A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • • Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.

• A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

• LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

exclusively listed 469.844.8880

STRIVERE.COM