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BROWNWOOD CROSSING BROWNWOOD, TX


PRI CING & F INAN CI AL AN ALYSI S

B R OWNWO O D C R O SSING

Brownwood Crossing 315 E Commerce St Brownwood, TX 76801

OFFERING SUMMARY Price Cap Rate Net Operating Income

$3,400,000 8.00% $272,138

Price PSF

$46.68

Occupancy

100.0%

Year Built

1985/2002

Gross Leasable Area

72,833 SF

Lot Size

7.27 Acres

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

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PRI CING & F INAN CI AL AN ALYSI S

B R OWNWO O D C R O SSING

PROJECTED INCOME & EXPENSES

CURRENT

PSF

EXPENSES

CURRENT

PSF

Base Rent - Occupied Space

100%

$290,190

$3.98

Real Estate Taxes

$64,146

$0.88

Base Rent - Lease Up Space

0%

$0.00

$0.00

Insurance

$23,047

$0.32

$290,190

$3.98

CAM Exterior Lights

$7,110

$0.10

GROSS POTENTIAL RENT Expense Reimbursements Real Estate Taxes

$64,146

$0.88

Exterior Maintenance

$200

$0.00

Insurance

$17,316

$0.24

HVAC Service

$579

$0.01

$20,586

$0.28

Mowing

$1,180

$0.02

$0

$0.00

Parking Lot Repair

$1,250.00

$0.02

Total Expense Reimbursements

$102,047

$1.40

Roof

$2,018.19

$0.03

GROSS POTENTIAL INCOME

$392,237

$5.39

Sprinkler/Alarms

$980.00

$0.01

$0.00

$0.00

Sweeping

$3,085.16

$0.04

$392,237

$5.39

Utilities

$4,736.62

$0.07

Total CAM

$21,139

$0.29

$11,767

$0.16

$120,099

$1.65

CAM Mgmt. Fee

Vacancy Factor

0.00%

EFFECTIVE GROSS REVENUE Operating Expenses Real Estate Taxes

($64,146)

($0.88)

Management Fee

Insurance

($23,047)

($0.32)

Total Expenses

($21,139)

($0.29)

($11,767)

($0.16)

($120,099)

($1.65)

$272,138

$3.74

CAM Mgmt. Fee Total Recoverable Expenses Net Operating Income

3.00%

3.00%

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

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RE NT RO L L

Suite

B R OWNWO O D C R O SSING

Tenant

SQ FT

% of SQFT

Start

End

Annual Rent

PSF

Escalation Date

Escalation Amount

Options

Lease Type

100

Big Lots

30,679

42.1%

6/5/2001

10/15/2020

$127,317.84

$4.15

10/16/2020

$4.65

1x5

Big Lots

200

Dollar General

12,978

17.8%

10/16/2005

10/31/2025

$51,170.40

$3.94

11/1/2020

$4.14

2x5

Dollar General

300

Tractor Supply

29,176

40.1%

10/16/2005

10/15/2025

$111,485.88

$3.82

-

-

-

Tractor Supply

72,833

100.0%

$289,974

$3.98

0

0.0%

72,833

100.0%

Occupied Vacant Total

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

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TE NA NT INF ORMAT I ON

B R OWNWO O D C R O SSING

Tenant

Big Lots

Corporate/Franchise

Corporate

Locations

1,400+ Locations

Public/Private

Public (NYSE: BIG)

Line of Business

Big Lots is an American retail company headquartered in Columbus, Ohio. Big Lots department stores sell a wide variety of merchandise, including packaged food and beverages, toys, furniture, clothing, housewares, and small electronics, much of which is closed out or overstocked merchandise. The company has over 1,400 stores in 47 states and is traded on the NYSE under the symbol BIG.

Tenant

Dollar General

Corporate/Franchise

Corporate

Locations

15,000+ Locations

Public/Private

Public (NYSE: DG)

Line of Business

Dollar General is an American chain of variety stores and discount retailers headquartered in Goodlettsville, Tennessee. Known for its numerous locations in rural towns, Dollar General sell everyday items including food, snacks, health and beauty aids, cleaning supplies, family apparel, housewares, seasonal items and paper products. Dollar General operates more than 15,000 stores in the United States.

Tenant

Tractor Supply Co.

Corporate/Franchise

Corporate

Locations

1,700+ Locations

Public/Private

Public (NASDAQ: TSCO)

Line of Business

Tractor Supply Company is an American retail chain of stores that offers products for home improvement, agriculture, lawn and garden maintenance, and livestock, equine and pet care. Founded as a mail order tractor parts business in 1938, the first Tractor Supply Co. retail store was founded in 1939. Livestock and pet products accounted for 47 percent of the company’s sales in 2018.

PROPERTY DESCRIPTION

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I N VE S TMENT HI GHLI GHT S

B R OWNWO O D C R O SSING

• 100% NNN Leased to National Credit Tenants • 5 + Years Left On All Leases and 2 of the 3 Tenants Have Rent Escalations in less than a Year • T ractor Supply Has Been A Tenant Since 2005 and Does Extremely Well In This Marketplace • T enants Report Sales Providing Insight on the Health of the Business at this Location • Under Market Rents and Long Term Upside in the Leases for a Potential Investor • Situated on E Commerce St, a Major Commercial Thoroughfare in Brownwood, and just east of N Main St. The Traffic Counts on E Commerce St Exceed 22,770 Vehicles per Day, with Traffic Surpassing 15,700 VPD on N Main St • Brownwood is home to Howard Payne University, a Private Baptist University with an Enrollment over 1,200 Students. • Surrounding National Retailers Include Walmart Supercenter, The Home Depot, ALDI, United Supermarkets, Bealls, CVS Pharmacy, Walgreens, Dollar Tree, HibbetT Sports, AutoZone, Whataburger, Taco Bueno, McAlister’s Deli and Many More PROPERTY DESCRIPTION

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S I T E PL A N

B R OWNWO O D C R O SSING

PROPERTY DESCRIPTION

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A E R I AL MA P

B R OWNWO O D C R O SSING

Heartland Mall

Commerce Square

CO M M

E RC E S T

22,770

VPD

PROPERTY DESCRIPTION

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A E R I AL MA P

B R OWNWO O D C R O SSING Commerce Square

CO M

MERC

E ST

22,7 70

V PD

Adjoining lot available. Contact broker for more details.

PROPERTY DESCRIPTION

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LO C AL MA P

B R OWNWO O D C R O SSING

PROPERTY DESCRIPTION

10


REG IONA L MA P

B R OWNWO O D C R O SSING

Brownwood

PROPERTY DESCRIPTION

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M A R KET S U MMARY

B R OWNWO O D C R O SSING

Brownwood, TX

OVERVIEW Brownwood, Texas, is a city in and the county seat of Brown County, Texas. Brownwood is located south of the center of Brown County, west of the Pecan Bayou. It is bordered to the east by the city of Early. Brownwood is approximately 65 miles southeast of Abilene, 85 miles northwest of Killeen and 110 miles from Fort Worth. The population was 19,288 at the 2010 census.

Brownwood’s economy was heavily invested in Camp Bowie, and rebounded In the 1970s as Brownwood manufactured industrial and transportation equipment, furniture and clothing. In the 1980s important businesses included meat packing, commercial printing. By the turn of the century, the Brownwood-Early remained an important distributing center for the county and the region.

The original site of the Brown County seat of Brownwood was east of Pecan Bayou, where the town of Early is currently located. A dispute arose over land and water rights, and the settlers were forced to find a new location. Greenleaf Fisk donated 60 acres to relocate the county seat to the west side of the bayou, on what is now the current site of Brownwood. The town was incorporated in 1884. By 1900, the city was dominated by the cotton industry.

Brownwood is home to Howard Payne University, a private Baptist university that competes at the NCAA Division III level. The city also lies within the Brownwood Independent School District. Brownwood High School has a strong tradition of nonsports UIL participation, including academic competitions and drama (one-act plays).

During World War II, Brownwood was the location of U.S. Army Camp Bowie, which had a peak complement of over 80,000 soldiers. Camp Bowie serves as a training camp today.

Brownwood has even been ranked by insurance provider Obrella as the 6th best commuter city in the state of Texas. Area attractions included Lake Brownwood State Recreation Area, Camp Bowie Memorial Park, and the Brown County Museum of History.

PROPERTY DESCRIPTION

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D E M OG RA PHIC STAT I ST I CS

B R OWNWO O D C R O SSING

3 Mile

5 Mile

10 Mile

Population: 2024 Projection

17,486

22,784

32,582

2019 Estimate

17,132

22,444

32,108

2010 Census

16,846

22,720

32,558

Growth 2019-2024

2.07%

1.51%

1.48%

Growth 2010-2019

1.70%

-1.21%

-1.38%

2019 Population Hispanic Origin

5,400

6,399

7,838

15,579

20,503

29,650

Black

915

1,107

1,316

Am. Indian & Alaskan

144

181

278

Asian

170

256

289

14

17

27

310

380

548

4

11

13

2024 Projection

6,724

8,635

12,525

2019 Population by Race: White

Hawaiian & Pacific Island Other U.S. Armed Forces:

Households: 2019 Estimate

6,591

8,511

12,356

2010 Census

6,515

8,660

12,617

Growth 2019 - 2024

2.02%

1.46%

1.37%

Growth 2010 - 2019

1.17%

-1.72%

-2.07%

Owner Occupied

3,788

5,093

8,256

Renter Occupied

2,803

3,419

4,100

2019 Avg Household Income

$51,190

$53,870

$55,333

2019 Med Household Income

$34,619

$37,615

$42,503

2019 Households by Household Inc: <$25,000

2,440

2,898

3,729

$25,000 - $50,000

1,809

2,270

3,368

$50,000 - $75,000

1,023

1,431

2,298

$75,000 - $100,000

555

847

1,376

$100,000 - $125,000

453

624

932

$125,000 - $150,000

90

127

260

$150,000 - $200,000

60

105

138

$200,000+

162

209

256

Demographic data © CoStar 2019

PROPERTY DESCRIPTION

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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 tenantâ&#x20AC;&#x2122;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: ӽӽ that the owner will accept a price less than the written asking price; ӽӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽӽ 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

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Brownwood Crossing - Brownwood, TX  

Brownwood Crossing - Brownwood, TX