Center Street Plaza - Bonham, TX

LA

CENTER STREET PLAZA BONHAM, TX

(SHERMAN, TX MSA)

N

D I N /BIL CL LB UD OA ED RD !

PRI C I N G & FI N A NC IA L ANALYS IS

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

Center Street Plaza 2244 N Center St Bonham, TX 7418

OFFERING SUMMARY Price Cap Rate

$660,000 8.00%

Net Operating Income

$52,879

Price PSF

$188.57

Occupancy

100.0%

Year Built Gross Leasable Area Lot Size

2004 3,500 SF 0.76 Acres

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

2

PRI C I N G & FI N A NC IA L ANALYS IS

PROJECTED INCOME & EXPENSES

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

CURRENT

PSF

EXPENSES

CURRENT

PSF

Base Rent - Occupied Space

100%

$72,100

$20.60

Real Estate Taxes

$9,458

$2.70

Base Rent - Lease Up Space

0%

$0.00

$0.00

Insurance

$2,400

$0.69

$72,100

$20.60

Total CAM

$5,200

$1.49

$2,163

$0.62

$19,221

$5.49

GROSS POTENTIAL RENT Expense Reimbursements

Management Fee

Real Estate Taxes

$0

$0.00

Insurance

$0

$0.00

CAM

$0

$0.00

Mgmt. Fee

$0

$0.00

$0

$0.00

$72,100

$20.60

Real Estate Taxes

($9,458)

($2.70)

Insurance

($2,400)

($0.69)

CAM

($5,200)

($1.49)

($2,163)

($0.62)

Total Recoverable Expenses

($19,221)

($5.49)

Net Operating Income

$52,879

$15.11

Total Expense Reimbursements GROSS POTENTIAL INCOME Operating Expenses

Mgmt. Fee

3.00%

Total Expenses

3.00%

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

Suite

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

Tenant

SQ FT

% of SQFT

Start

End

Annual Rent

PSF

Escalation Date

Escalation Amount

Options

Lease Type

A

AT&T

1,350

38.6%

8/1/2017

7/31/2022

$42,000

$31.11

8/1/2022

$34.22

2X5

Gross

B

Keshav Store

1,050

30.0%

9/10/2020

9/30/2025

$9,600

$9.14

9/1/2022

$9.71

1x5

Gross

C

Domino's Pizza

1,100

31.4%

6/1/2010

MTM

$12,000

$10.91

-

-

-

Gross

D

Billboard

0

0.0%

1/1/2020

4/30/2021

-

-

-

-

-

-

3,500

100.0%

$63,600

$18.17

0

0.0%

3,500

100.0%

Occupied Vacant Total

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

4

TE NA NT INF ORMAT I ON

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

DBA

Domino’s

Corporate/Franchise

Franchise

Locations

17,000+

Public/Private

Public

Line of Business

Domino’s is an American multinational pizza restaurant chain founded in 1960. The corporation is headquartered at the Domino’s Farms Office Park in Ann Arbor, Michigan and incorporated in Delaware. In February 2018, the chain had sold more products out of all pizza sellers worldwide.

DBA

AT&T Inc.

Corporate/Franchise

Franchise

Locations

5,600+ Locations in the US

Public/Private

Public

Line of Business

AT&T Inc. is an American multinational conglomerate holding company headquartered in Dallas, Texas. It is the world’s largest telecommunications company, the largest provider of mobile telephone services and the largest provider of fixed telephone services in the United States through AT&T Communications.

PROPERTY DESCRIPTION

5

I N VE S TMENT HI GHLI GHT S

• 100% Occupied Retail Strip

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

SNAPSHOT

• Shadow Anchored by Highly Trafficked Brookshire’s Food & Pharmacy and Directly Across the Street from McDonald’s • Located on “Main and Main” in Bonham - Hwy 82 & Center St Provide Great Visibility and Access for Current and Future Tenants • Land and Billboard Behind the Builing is Included with Purchase and Provides Opportunity for Increased Cashflow

17,604

$65,542

Estimated Vehicle Per Day

Average Household Income

• Site has been Approved to Build Another Building on the Parcel • Significant Upside in Converting the Leases to NNN and getting Domino’s to Sign a New Term • Bonham is Located in the Texoma Region of the State • National Retailers in the Area Include Walmart, Tractor Supply, Family Dollar, Dollar Tree, Uhaul, Sonic, Dairy Queen and more

13,193 Population: 5 Mile Radius

PROPERTY DESCRIPTION

6

S I T E PL A N

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

N CENTER ST

U.S. 82 FRONTAGE RD

BILLBOARD

NEARLY HALF AN ACRE OF LAND INCLUDED FOR POTENTIAL DEVELOPMENT OPPORTUNITY

PROPERTY DESCRIPTION

7

A E R I AL MA P

P R O P E R T Y NAM E

JONES FIELD AIRPORT

FINLEY-OATES ELEMENTARY SCHOOL

BONHAM HIGH SCHOOL

N CENTER ST

6,853 VPD

10,751 VPD

MARKET OVERVIEW

8

LO C AL MA P

P R O P E R T Y NAM E

MARKET OVERVIEW

9

REG IONA L MA P

P R O P E R T Y NAM E

MARKET OVERVIEW

10

M A R KET S U MMARY

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

Sherman–Denison, TX

OVERVIEW The Sherman–Denison Metropolitan Statistical Area, is an area consisting of one county, Grayson, in North Texas, which is anchored by the cities of Sherman and Denison. As of 2019, the MSA had an estimate population of 136,212. The Sherman–Denison Metropolitan Statistical Area is a component of the Dallas–Fort Worth Combined Statistical Area, which covers a 19-county area and had an estimated population of over 7.5 million people. The Sherman– Denison MSA is also a major part of the Texoma region with proximity to both Lake Texoma and the Red River.

Located near the Texas-Oklahoma border on the Red River, Sherman-Denison is approximately 60 miles north of Dallas and 140 miles southeast of Oklahoma City. Sherman sits at the intersection of U.S. Route 75, a major north–south U.S. Highway that extends 1,239 miles in the central United States, and U.S. Route 82, an east–west U.S. highway extending from the White Sands of New Mexico to Georgia’s Atlantic coast.

In 1938, construction of a dam on the Red River

was authorized by the U.S. Congress. The dam, now known as Denison Dam, formed Lake Texoma, which is used for recreation, irrigation, and electrical power generation. Lake Texoma is one of the largest reservoirs in the United States, and a major attraction of the area. Lake Texoma is also home to the Lakefest Regatta, widely considered to be the first inland charity regatta in the United States.

The economy of the Sherman–Denison MSA is anchored by a number of S&P 500 Components.

Tyson Foods, Texas Instruments and Cigna all operate out of the area. Sherman-Denison is also home to two institutes of higher education, Austin College in Sherman and Grayson College in Denison.

Additionally, President Dwight D. Eisenhower was born in Denison, Texas on October 14, 1890, the first United States President to be born in Texas. The Eisenhower Birthplace State Historic Site has been turned into a historical museum in Denison and is a very popular tourism site in the area.

MARKET OVERVIEW

11

D E M OG RA PHIC STAT I ST I CS

C E NT E R ST R E E T P LAZ A - B O NH AM, T X

1 Mile

3 Mile

5 Mile

Population

1 Mile

3 Mile

5 Mile

Households:

2010 Population

2,448

9,144

13,193

2010 Households

1,000

3,368

4,200

2020 Population

2,487

9,756

14,054

2020 Households

1,018

3,618

4,571

2025 Population Projection

2,654

10,499

14,998

2025 Household Projection

1,089

3,905

4,944

Annual Growth 2010-2020

0.20%

0.70%

0.70%

Annual Growth 2010-2020

0.10%

0.30%

0.30%

Annual Growth 2020-2025

1.30%

1.50%

1.30%

Annual Growth 2020-2025

1.40%

1.60%

1.60%

Median Age

39.7

39.4

40.6

Owner Occupied

697

2,116

2,934

Bachelor's Degree or Higher

24%

16%

16%

Renter Occupied

321

1,502

1,637

0

0

0

Avg Household Size

2.4

2.5

2.4

2

2

2

$24.1M

$76M

$102.7M

U.S. Armed Forces

Avg Household Vehicles

Population by Race

Total Consumer Spending

White

2,245

8,498

11,901

Black

105

805

1,543

American Indian/Alaskan Native

46

141

194

Avg Household Income

$65,542

$53,964

$59,099

Asian

34

80

124

Median Household Income

$49,038

$37,802

$41,091

Hawaiian & Pacific Islander

0

8

9

< $25,000

214

1,161

1,311

Two or More Races

57

225

284

$25,000 - 50,000

306

1,129

1,395

248

1,470

2,230

$50,000 - 75,000

242

622

775

$75,000 - 100,000

49

224

369

Hispanic Origin

Housing Median Home Value Median Year Built

Demographic data Š CoStar 2020

Income

$108,102

$82,359

$91,629

$100,000 - 125,000

92

188

244

1975

1969

1973

$125,000 - 150,000

63

116

203

$150,000 - 200,000

21

87

144

$200,000+

33

91

131

MARKET OVERVIEW

12

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: 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