4514 First United Pkwy Amarillo, TX 79119
Price $1,750,000
Cap Rate 7.81%
Net Operating Income $96,582
Price PSF $197.71
Occupancy 85.019%
Year Built 2018
Gross Leasable Area 8,851 SF
Lot Size 0.83 Acres
Base Rent - Occupied Space 85% $112,850 $12.75
Base Rent - Lease Up Space 15% $23,868 $2.70
GROSS POTENTIAL RENT $136,718 $15.45
Expense Reimbursements
Real Estate Taxes $25,750 $2.91
Insurance $6,000 $0.68
CAM $5,600 $0.63
Management Fee 2.33% $4,150 $0.47
Total Expense Reimbursements $41,500 $4.69
GROSS POTENTIAL INCOME $178,218 $20.14
EFFECTIVE GROSS REVENUE $178,218 $20.14
Operating Expenses
Real Estate Taxes ($25,750) ($2.91)
Insurance ($6,000) ($0.68)
CAM ($5,600) ($0.63)
Management Fee 2.33% ($4,150) ($0.47)
Total Recoverable Expenses ($41,500) ($4.69)
Net Operating Income $136,718 $15.45
Real Estate Taxes $25,750 $2.91
Insurance $6,000 $0.68
Total CAM $5,600 $0.63
Management Fee 2.33% $4,150 $0.47
Total Expenses $41,500 $4.69
For Financing Options, Please Contact:
Greg Holley | Managing Partner
High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com
100 Lease Up 1,326 14.98% 07/01/2022 06/30/2027 $23,868 $18.00 NNN
150 F45 2,500 28.25% 10/01/2022 12/31/2029 $42,500 $17.00 01/01/2024 $17.34 3
200 Anytime Fitness* 5,025 56.77% 07/01/2022 06/30/2027 $70,350 $14.00 2
8,851 100% $136,718 $18.17
8,851 100%
1 NNN
NNN
Year
Base Rent - Occupied Space 85% $102,800 $11.61
Base Rent - Lease Up Space
GROSS POTENTIAL RENT $102,800 $11.61
Expense Reimbursements
Real Estate Taxes $21,892 $2.47
Insurance $5,101 $0.58
CAM $4,761 $0.54
Management Fee $3,528 $0.40
Total Expense Reimbursements $35,282 $3.99
GROSS POTENTIAL INCOME $138,082 $15.60
EFFECTIVE GROSS REVENUE $138,082 $15.60
Operating Expenses
Real Estate Taxes ($25,750) ($2.91)
Insurance ($6,000) ($0.68)
CAM ($5,600) ($0.63)
Management Fee 3.01% ($4,150) ($0.47)
Total Recoverable Expenses ($41,500) ($4.69)
Net Operating Income $96,582 $10.91
Real Estate Taxes
$25,750 $2.91
Insurance $6,000 $0.68
Total CAM $5,600 $0.63
Management Fee 3.01% $4,150 $0.47
Total Expenses $41,500 $4.69
For Financing Options, Please Contact: Greg Holley | Managing Partner
High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com
100 Vacant 1326 14.98%
150 F45 2500 28.25% 10/1/2022 12/31/2029 $42,500 $17.00 1/1/2024 $17.34 3
200 Anytime Fitness 5025 56.77% 7/1/2022 6/30/2027 $60,300 $12.00 7/1/2027 2
$102,800
1,326
1 NNN
NNN
Locations
4,000+ in 50 Countries
Line of Business
Anytime Fitness is a 24-Hour health and fitness club that is headquartered in Woodbury, Minnesota. The ccompany operates over 4,000 locations in 50 countries, and the gym prides itself for being open 24 hours a day, 365 days a year. Anytime Fitness offers a variety of workout opportunities for it’s members, including Fitness Consultations, group Workouts, One-on-One training, as well as a weight room and cardio room for everyone at anytime.
Locations
1,750+ in 45 Countries
Public/Private Private
Line of Business
F45 Training is a global fitness community specializing in innovative, high-intensity group workouts that are fast, fun, and results-driven. F45 is a mix of circuit and HIIT style workouts specifically designed to provide a functional full-body workout while improving energy levels, metabolic rate, strength, and endurance. As one of the fastest growing fitness franchises in the world, F45 is dedicated to improving your health and reaching your goals, all within 45 minutes.
• 85% Occupied Retail Center with Lengthy Term Remaining for Current Tenants
• NNN Leases Providing Ease of Management
• Complementary Mix of Internet Resistant, Service Oriented Tenants
• Significant Upside in Leasing the Remaining 15% of GLA
• Pro Forma Cap Rate of 7.81%
• Close Proximity to S Soncy Rd – A Major Retail Corridor in Amarillo
• Surrounding National Retailers Include Academy Sports + Ourdoors, Dunkin’, Tropical Smoothie Café, Great Clips, O’Reilly Auto Parts, United Supermarkets, and Many More
• 2018 Construction Complemented by Attractive Façade and Well-Maintained Landscaping
• Amarillo is the Largest City in the Texas Panhandle
Amarillo, Texas, is a city in and the county seat of Potter County. The largest city in the Texas Panhandle and the 14th-most populous city in the state, Amarillo’s estimated population was 199,371 as of 2019. The five-county Amarillo metropolitan area has an estimated population of 265,053, as of 2019. Originally named Oneida, Amarillo is situated in the Llano Estacado region with Interstate 40 — and previously U.S. Route 66 — running through the city.
Founded in 1887, Amarillo’s early growth was fueled by the availability of the railroad and freight service provided by the Fort Worth and Denver City Railroad. This helped power the city to become the cattle-marketing center in the late 19th century. The city was also once the self-proclaimed “Helium Capital of the World” for having one of the country’s most productive helium fields. Additionally, the city is known as “The Yellow Rose of Texas” (as the city takes its name from the Spanish word for yellow), and operates one of the largest meat-packing areas in the United States.
Amarillo is considered the regional economic center for the Texas Panhandle as well as Eastern New Mexico and the Oklahoma Panhandle. The meat packing industry is a major employer in Amarillo; about one-quarter of the United States’ beef supply is processed in the area. The city is also the location of headquarters for the Texas Cattle Feeders Association. Petroleum extraction is also a major industry. Approximately 14 million acres of agricultural land surrounds the city with corn, wheat, and cotton as the primary crops.
The city also is home to Cadillac Ranch, a public art instillation with several mid-twentieth century Cadillacs buried nose-first into the ground. The Palo Duro Canyon State Park, located south of Amarillo, is the United States’ second largest canyon system after the Grand Canyon. The canyon is a prominent mountain biking destination and hosts the annual 50-mile Palo Duro Canyon Trail Run. Additionally, since 1921 Amarillo has hosted the Tri-State Fair & Rodeo, which brings participants mostly from Oklahoma, New Mexico and Texas to Amarillo.
1 Mile 3 Mile 5 Mile
2010 Population 4,776 48,488 102,208
2020 Population 7,239 59,871 121,277
2025 Population Projection 8,126 65,210 130,303
Annual Growth 2010-2020 4.30% 2.00% 1.60%
Annual Growth 2020-2025 2.50% 1.80% 1.50%
Median Age 41.7 39.6 37.8
Bachelor's Degree or Higher 55% 37% 31%
U.S. Armed Forces 15 86 151
White 6,513 54,152 107,941
Black 189 2,100 5,713
American Indian/Alaskan Native 75 630 1,224
Asian 353 1,765 3,575
Hawaiian & Pacific Islander 1 38 97
Two or More Races 107 1,186 2,729
Hispanic Origin 1,010 10,303 25,923
Median Home Value $294,659 $207,908 $177,316
Median Year Built 2002 1984 1979
1 Mile 3 Mile 5 Mile
Demographic data © CoStar 2021
2010 Households 2,075 20,796 43,169
2020 Households 3,108 25,234 50,181
2025 Household Projection 3,478 27,352 53,611
Annual Growth 2010-2020 4.00% 1.70% 1.40%
Annual Growth 2020-2025 2.40% 1.70% 1.40%
Owner Occupied 2,350 18,388 35,410
Renter Occupied 1,128 8,964 18,201
Avg Household Size 2.3 2.3 2.4
Avg Household Vehicles 2 2 2
Total Consumer Spending $123.5M $823.8M $1.5B
Avg Household Income $137,963 $94,673 $84,075
Median Household Income $109,893 $73,964 $65,895
< $25,000 261 3,404 8,958 $25,000 - 50,000 354 5,290 10,750 $50,000 - 75,000 432 4,095 8,529 $75,000 - 100,000 351 2,983 6,457 $100,000 - 125,000 398 3,684 5,990 $125,000 - 150,000 290 1,931 3,576 $150,000 - 200,000 367 1,883 3,087 $200,000+ 658 1,965 2,830
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.
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.
Commercial DisclaimerTexas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
• 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.
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.