Frisco Crossing - Frisco, TX

FRISCO CROSSING FRISCO, TX (DALLAS MSA)

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

F R ISCO C R O SSING

Frisco Crossing 14550 State Hwy 121 Frisco, TX 75035

OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built Gross Leasable Area Lot Size

$5,895,000 6.25% $368,340 $484.87 100.0% 2016 12,158 SF 1.70 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

F R ISCO C R O SSING

CURRENT

PSF

EXPENSES

CURRENT

PSF

$102,064

$8.39

$3,254

$0.27

Electricity

$3,553

$0.29

$8,780

$0.72

$115

$0.01

Base Rent - Occupied Space

100%

$368,340

$30.30

Real Estate Taxes

Base Rent - Lease Up Space

0%

$0.00

$0.00

Insurance

$368,340

$30.30

CAM

GROSS POTENTIAL RENT Expense Reimbursements Real Estate Taxes

$102,064

$8.39

Water & Sewer

$3,254

$0.27

Water - Irrigation

CAM

$37,206

$3.06

Waste Disposal

$7,957

$0.65

Mgmt. Fee

$18,051

$1.48

Landscaping

$3,774

$0.31

Total Expense Reimbursements

$160,574

$13.21

Pest Control

$281

$0.02

GROSS POTENTIAL INCOME

$528,915

$43.50

Porter Service

$1,903

$0.16

EFFECTIVE GROSS REVENUE

$528,915

$43.50

Maintenance

$1,310

$0.11

Electrical

$280

$0.02

$4,343

$0.36

Insurance

Operating Expenses Real Estate Taxes Insurance CAM Mgmt. Fee

3.41%

Total Recoverable Expenses Net Operating Income

($102,064)

($8.39)

Fire Protection System

($3,254)

($0.27)

Site Lighting

$534

$0.04

($37,206)

($3.06)

Parking lot Repair

$1,675

$0.14

($18,051)

($1.48)

Exterior Repairs

$2,238

$0.18

($160,574)

($13.21)

Roof

$463

$0.04

$368,340

$30.30

Total CAM

$37,206

$3.06

$18,051

$1.48

$160,574

$13.21

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

Total Expenses

3.41%

The analysis date for the Income & Expenses is 5/1/2021. This takes into consideration a 1-year hold from such date and any recent escalations within the following year.

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

3

RE NT RO L L

Suite

F R ISCO C R O SSING

Tenant

SQ FT

% of SQFT

Start

End

Annual Rent

PSF

Escalation Date

Escalation Amount

Options

Lease Type

100

Stonelake Family Dentistry

2,047

16.8%

12/2/2016

12/31/2026

$55,293

$27.01

12/1/2022

$27.50

2x5

NNN+Net MGT

110

Palio's

2,541

20.9%

12/14/2016

12/31/2026

$86,394

$34.00

12/1/2024

$35.00

2x5

NNN+Net MGT

120

CBD Kratom

1,269

10.4%

5/1/2019

6/30/2024

$44,440

$35.02

7/1/2021

$36.07

1x5

NNN+Net MGT

130

Men's T Clinic

1,999

16.4%

10/9/2017

1/31/2023

$59,970

$30.00

2/1/2023

Mkt

2x5

NNN+Net MGT

150

Frisco Pharmacy

2,718

22.4%

3/21/2018

5/31/2022

$73,386

$27.00

3/1/2022

$27.50

3x3

NNN+Net MGT

160

King and Cardinal Bakery

1,584

13.0%

2/18/2018

6/30/2023

$47,520

$30.00

7/1/2023

Mkt

2x5

NNN+Net MGT

12,158

100.0%

$367,003

$30.19

0

0.0%

12,158

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

F R ISCO C R O SSING

Tenant

Palio’s Pizza Cafe

Corporate/Franchise

Corporate

Locations

33 Locations in Dallas-Fort Worth

Public/Private

Private

Line of Business

Palio’s Pizza Cafe is a pizza restaurant chain operating 33 locations in the Dallas-Fort Worth metroplex. Each location is privately owned and family-operated. Open since 2001, Palio’s Pizza Cafe offers scratch-made pizzas with a house-made tangy tomato sauce, mozzarella cheese and fresh vegetables and meats.

Tenant

Men’s T Clinic

Corporate/Franchise

Corporate

Locations

9 Locations in Texas

Public/Private

Private

Line of Business

Men’s T Clinic is a health and wellness clinic that focuses on hypogonadism, commonly known as low testosterone, or Low T. Men’s T Clinic operates nine conveniently located, noappointment-necessary locations that provide testosterone replacement therapies ranging from injection therapy to pharmaceutical gels and creams.

Tenant

Stonelake Family Dentistry

Corporate/Franchise

Corporate

Locations

1 Location

Public/Private

Private

Line of Business

Stonelake Family Dentistry is an oral healthcare clinic in Frisco, Texas that provides a number of services including general checkups, Invisalign and in-depth oral surgery.

Tenant

Frisco Pharmacy

Corporate/Franchise

Corporate

Locations

4 Locations

Public/Private

Private

Line of Business

Frisco Pharmacy is a locally owned and operated pharmacy that offers services ranging from filling prescriptions, home deliveries of medications to compounding medicines out of its location in Frisco, Texas.

PROPERTY DESCRIPTION

5

I N VE S TMENT HI GHLI GHT S

• 100% Occupied Retail Center with NNN Leases

F R ISCO C R O SSING

SNAPSHOT

• 3 of the 6 Tenants Have Rental Increases Within the Next 12 Months • 2016 Class “A” Construction • Frisco is the Fastest-Growing City in the United States since 2010 • Staggered Lease Turnover • 3 out of 6 Tenants are Essential Medical Businesses • A verage Household Income in a 3-Mile Radius Exceeds $157,033 —Almost Double the National Average

30,759

$157,033

Estimated Vehicle Per Day

Average Household Income

35.43%

326,329

Population Growth 2010-2020

Population: 5 Mile Radius

• L ocated at the Intersection of Texas Highway 121 & Independence Pkwy, Two Major Thoroughfares in Frisco. Traffic Counts Surpass 30,000 Vehicles per Day on Highway 121 and Exceed 10,000 Vehicles per Day on Independence Pkwy • 12 Schools Within a 2-Mile Radius • Frisco ISD is one of the top School Districts in the Country • S urrounding National Tenants Include Kroger, Walmart Supercenter, Target, McDonald’s, Chipotle, QuikTrip, Starbucks, UPS, Great Clips, Baylor Scott & White, 7-Eleven and Many More

PROPERTY DESCRIPTION

6

S I T E PL A N

F R ISCO C R O SSING

CORRIDOR

100 160 140

150

INDEPENDENCE PKWY

130 120

Suite Tenant

SQ FT

100 Stonelake Family Dentistry

2,047

110

Palio's

2,541

120 CBD Kratom

1,269

130 Men's T Clinic

1,999

150 Frisco Pharmacy

2,718

160 King and Cardinal Bakery

1,584

110

TE

S XA

S

EH T TA

IG

121 Y A HW

R BUY Y R A WA M L SA TOL

N

PROPERTY DESCRIPTION

7

A E R I AL MA P

F R ISCO C R O SSING

LAWLER MIDDLE SCHOOL

LIBERTY HIGH SCHOOL

CENTENNIAL HIGH SCHOOL

M c SPEDDEN ELEMENTARY SCHOOL

I N DEPE N D E N CE P K W Y

GUNSTREAM ELEMENTARY SCHOOL WESTER MIDDLE SCHOOL

ISBELL ELEMENTARY SCHOOL

TALLEY ELEMENTARY SCHOOL

10,545 VPD

VANDEVENTER MIDDLE SCHOOL

CURTSINGER ELEMENTARY SCHOOL

CU STE R R D

2V , 29 7 1 1

EVANS ELEMENTARY SCHOOL

PD

TAYLOR ELEMENTARY SCHOOL

23,386 VPD

ANDERSON ELEMENTARY SCHOOL

MARKET OVERVIEW

8

A E R I AL MA P

F R ISCO C R O SSING

LIBERTY HIGH SCHOOL

IN DE PE ND EN CE PK W SA

M

RA YB

UR

N

TO

LL W AY

Y MARKET OVERVIEW

9

A E R I AL MA P

F R ISCO C R O SSING HERITAGE HIGH SCHOOL McKINNEY HIGH SCHOOL WAKELAND HIGH SCHOOL

STONEBRIDGE RANCH COUNTRY CLUB

INDEPENDENCE HIGH SCHOOL

MCKINNEY ISD STADIUM

TPC CRAIG RANCH

TOYOTA STADIUM CENTENNIAL HIGH SCHOOL

LIBERTY HIGH SCHOOL

FRISCO HIGH SCHOOL 2V , 29 1 17

PD

FAIRVIEW TOWN CENTER

COLLIN COLLEGE V 106,021

LEBANON TRAIL HIGH SCHOOL

PD

FORD CENTER AT THE STAR

FRISCO CAMPUS

SITE

McKINNEY TOWN CENTER

ALLEN PREMIUM OUTLETS

THE VILLAGE AT ALLEN

THE CENTRE AT PRESTON RIDGE TWIN CREEKS GOLF COURSE

EAGLE STADIUM

DR. PEPPER BALLPARK BAYLOR SCOTT & WHITE

LEGACY WEST

164, 0

STONEBRIAR CENTER

THE SHOPS AT LEGACY

ALLEN HIGH SCHOOL

00 V

PD

IKEA

RIDGEVIEW RANCH GOLF COURSE

JASPER HIGH SCHOOL

KEY SITE RECREATION EDUCATION RETAIL MEDICAL ATTRACTIONS

MARKET OVERVIEW

10

LO C AL MA P

F R ISCO C R O SSING

MARKET OVERVIEW

11

REG IONA L MA P

F R ISCO C R O SSING

MARKET OVERVIEW

12

M A R KET S U MMARY

F R ISCO C R O SSING

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

F R ISCO C R O SSING

1 Mile

3 Mile

5 Mile

Population

1 Mile

3 Mile

5 Mile

Households:

2010 Population

8,729

90,669

240,956

2010 Households

3,400

30,801

87,388

2020 Population

11,637

121,121

326,329

2020 Households

4,400

41,726

118,650

2025 Population Projection

13,168

137,075

369,789

2025 Household Projection

4,958

47,218

134,302

Annual Growth 2010-2020

3.30%

3.40%

3.50%

Annual Growth 2010-2020

2.50%

3.60%

3.40%

Annual Growth 2020-2025

2.60%

2.60%

2.70%

Annual Growth 2020-2025

2.50%

2.60%

2.60%

Median Age

35.5

37.3

36.7

Owner Occupied

2,459

32,327

78,597

Bachelor's Degree or Higher

61%

62%

57%

Renter Occupied

1,941

9,399

40,052

0

123

298

Avg Household Size

2.6

2.9

2.7

2

2

2

$142.6M

$1.5B

$3.9B

Avg Household Income

$139,983

$157,033

$137,109

Median Household Income

$113,578

$132,535

$112,528

< $25,000

292

1,794

7,402

U.S. Armed Forces

Avg Household Vehicles

Population by Race

Total Consumer Spending

White

7,272

73,906

209,414

Black

1,174

9,229

30,624

70

570

1,771

2,734

33,756

74,619

9

88

293

Two or More Races

378

3,571

9,607

$25,000 - 50,000

393

3,109

12,810

Hispanic Origin

1,166

10,361

36,271

$50,000 - 75,000

793

4,679

17,081

$75,000 - 100,000

402

4,366

14,337

American Indian/Alaskan Native Asian Hawaiian & Pacific Islander

Housing Median Home Value Median Year Built

Demographic data Š CoStar 2021

Income

$414,635

$380,234

$363,514

$100,000 - 125,000

591

5,377

15,355

2003

2002

2002

$125,000 - 150,000

435

5,101

12,671

$150,000 - 200,000

569

6,950

16,273

$200,000+

927

10,349

22,721

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 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