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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
STNL EVENT HALL801 N. John Young Pkwy. | Orlando, FL 32804
Offering Memorandum
301 S. New York Avenue | Suite 200 | Winter Park, FL 32789 | Ph: 407-691-0505 | Fx: 407-691-0506 | www.holdthyssen.com
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
CONTENTS
This summary has been prepared by Hold-Thyssen, Inc. for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by Seller, Hold-Thyssen, and designated sources and are based upon assumptions relating to the general economy, competition and other factors beyond the control of Seller, and therefore are subject to variation. No representation is made by Seller or Hold-Thyssen as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Seller, Hold-Thyssen and its employees, disclaim any responsibility for inaccuracies, and expect prospective purchasers to exercise independent due diligence in verifying all such information. The bearer of this property summary agrees that neither Hold-Thyssen, Inc. nor the Seller shall have any liability for any reason to any Potential Purchaser or Related Parties resulting from the use of this property summary.
I. Investment Overview
Listing Details 5
Aerials 6
Location Map 8
Photographs 9
Floor Plan 11
Site Plan 12
II. Market Information Area Demographics 14
Retail Market Analysis 15
III. Financial Analysis
Tenant Summary 26
Pricing Detail 27
Financial Data 27
Acquisition Financing 27
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
CONFIDENTIALITY AND LIMITING CONDITIONS
The information contained in this offering material (“Offering Memorandum”) is proprietary, confidential, and furnished solely for the purpose of a review by a prospective purchaser of STNL Event Hall (the “Property”) and is not to be used for any other purpose or made available to any other person or entity without the express written authorization of Hold Thyssen, Inc. (“H-T”).
This Offering Memorandum has been provided subject to the terms of a Confidentiality Agreement and has been prepared to provide summary, unverified information to prospective purchasers, and to establish a preliminary level of interest in the Property. The information contained in this Offering Memorandum has been obtained from sources believed to be reliable, however, H-T has not verified and will not verify, any of the information contained herein; nor has H-T conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Potential buyers must take appropriate measures to verify all of the information set forth herein.
The information contained in this Offering Memorandum is not a substitute for a thorough due diligence investigation. H-T 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 such as PCB's or asbestos, the property’s compliance or otherwise with 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.
Owner and H-T expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice, or to reprice the offering or withdraw the property from the market for any reason.
Owner shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner and any conditions to Owner’s obligations thereunder have been satisfied or waived. H-T is not authorized to make any representations or agreements on behalf of Owner.
This Offering Memorandum is the property of H-T and may be used only be parties approved by H-T and Owner. The Property is privately offered and, by accepting this Offering Memorandum, the party in possession hereof agrees (i) to return it to H-T immediately upon request of H-T or Owner and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or stored in any physical or digital storage device.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY AND UNDER NO CIRCUMSTANCES MAY ANY TENANT BE DISTURBED. PLEASE CONSULT THE LISTING AGENT FOR AN APPOINTMENT OR FOR MORE DETAILS.
ORLANDO, FLSTNL EVENT HALL
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INVESTMENTOVERVIEW
Listing Details
Aerials
Location Map
Photographs
Floor Plan
Site Plan
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
INVESTMENT OVERVIEW
Property Name: STNL Event Hall
Property Address: 801 N. John Young Pkwy Orlando, FL 32804
APN/Parcel ID: 21-2229-2069-00-010
Property Type: Retail - Restaurant
Tenancy: Single - Currently Occupied
Building Size: 20,780 SF Gross Leasable Area 19,000+ SF Banquet Hall/Restaurant/Event Center Separate 945 SF Office/Storage Building
Lot Size: 2.76 AC
Year Built: 1980
Building Class: B
Parking Ratio: 5.62/1,000 SF
Traffic Count (2016): 53,000 AADT
Zoning: AC2 - Orlando
Property Description: •Fullyrenovatedinteriorandexterior •Renovationsinclude2fullbars,fullcommercialkitchen,walk-incooler&freezer, custom LED lighting, fully fenced, high impact glass on all entry doors, 2 outdoor patios and more •Strongtenantwith4yearsremainingonlease •Centrallylocated,justminutesfromDowntownOrlando
Occupancy: 100%
Net Operating Income: $209,806 (Including 2017 real estate taxes of $38,640)
Cap Rate: 8%
Asking Price: $2,633,333 ($126.73 psf)
LISTING DETAILS
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
INVESTMENT OVERVIEW
PROPERTY AERIAL
W Colonial DrN
John Young Pkwy
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
W Colonial Dr (SR 50)N
John Young Pkwy
T O L L
417
International Dr.
Orange County Sheriff ’s Offi ce
Columbia College - Orlando Consulate of Mexico
in Orlando
Orange County Tax Collector
Orlando Science Elementary School
PROPERTY AERIAL
INVESTMENT OVERVIEW
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
INVESTMENT OVERVIEW
LOCATION
SR 50
INTERSTATE
4
T O L L
408
OrlandoExecutiveAirport
University of Central Florida
Orlando International
Airport
Orlando Science Center
Orlando
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
INVESTMENT OVERVIEW
PHOTOGRAPHS
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
INVESTMENT OVERVIEW
PHOTOGRAPHS
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
INVESTMENT OVERVIEW
FLOOR PLAN
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
INVESTMENT OVERVIEW
SITE PLAN
Community number: 120186 Panel: 0245 Suffix: F F.I.R.M. Date: 9/25/2009 Flood Zone: X Date of field work: 1/12/2017 Completion Date: 1/17/2017
Certified to: Mathura Properties 7, LLC; Bogin, Munns & Munns, P.A.; Alliant National Title Insurance Company; First Green Bank, its' successors and/or assigns.
Property Address: 801 North John Young Parkway Orlando, FL 32804
Survey number: SL 172985
P A R C E L A :
F r o m t h e S o u th w e s t c o r n e r o f t h e S o u th e a s t 1 /4 o f th e S o u t h e a s t 1 /4 o f S e c t io n 2 1 , T o w n s h ip 2 2 S o u th , R a n g e 2 9 E a s t , O r a n g e C o u n ty , F lo r id a , r u n N o r th 0 0 ° 0 3 '4 8 " W e s t a lo n g th e W e s t l in e o f s a id S o u t h e a s t 1 /4 o f S o u th e a s t 1 / 4 , a d is ta n c e o f 3 7 8 .8 4 f e e t; t h e n c e N o r th 8 9 ° 4 1 '4 9 " E a s t , a d i s ta n c e o f 8 0 .0 0 f e e t f o r t h e P o in t o f B e g in n in g ; t h e n c e N o r th 0 0 ° 0 3 '4 8 " W e s t a lo n g s a i d r i g h t o f w a y o f J o h n Y o u n g P a r k w a y , a d i s ta n c e o f 3 0 0 .0 0 fe e t ; th e n c e N o r t h 8 9 ° 4 1 '4 9 " E a s t p a r a l l e l t o C o lo n ia l D r i v e , a d i s ta n c e o f 3 0 0 .0 0 fe e t; th e n c e S o u th 0 0 ° 0 3 '4 8 " E a s t p a r a l le l t o J o h n Y o u n g P a r k w a y , a d is ta n c e o f 3 0 0 .0 0 f e e t; th e n c e S o u th 8 9 ° 4 1 '4 9 " W e s t p a r a ll e l t o C o lo n ia l D r i v e , a d i s ta n c e o f 3 0 0 . 0 0 fe e t to th e P o in t o f B e g in n i n g . A l s o d e s c r ib e d a s L o t 1 , D e t r i c h 's H o u s e o f B e e f , a c c o r d i n g to th e p la t t h e r e o f r e c o r d e d in P la t B o o k 8 , P a g e 8 1 , P u b li c R e c o r d s o f O r a n g e C o u n ty , F lo r id a .
L E S S A N D E X C E P T th a t p o r t io n o f th e a b o v e d e s c r i b e d P a r c e l A r e c o r d e d M a r c h 1 3 , 1 9 9 0 , in O f f ic ia l R e c o r d s B o o k 4 1 6 5 , P a g e 8 9 8 , P u b li c R e c o r d s o f O r a n g e C o u n ty , F lo r id a .
P A R C E L B :
F r o m t h e S o u th w e s t c o r n e r o f t h e S o u th e a s t 1 /4 o f th e S o u t h e a s t 1 /4 o f S e c t io n 2 1 , T o w n s h ip 2 2 S o u th , R a n g e 2 9 E a s t , O r a n g e C o u n ty , F lo r id a , r u n N o r th 0 0 ° 0 3 '4 8 " W e s t a lo n g th e W e s t l in e o f s a id S o u t h e a s t 1 /4 o f S o u th e a s t 1 / 4 , a d is ta n c e o f 3 7 8 .8 4 f e e t; t h e n c e N o r th 8 9 ° 4 1 '4 9 " E a s t , a d i s ta n c e o f 3 8 0 .0 0 fe e t fo r t h e P o in t o f B e g i n n in g ; th e n c e N o r t h 0 0 ° 0 3 '4 8 " W e s t p a r a l le l to th e s a id E a s t r ig h t o f w a y o f J o h n Y o u n g P a r k w a y , a d i s ta n c e o f 3 0 0 .0 0 fe e t ; th e n c e N o r th 8 9 ° 4 1 '4 9 " E a s t p a r a l le l to s a id C o lo n ia l D r i v e , a d i s t a n c e o f 1 0 0 .0 0 fe e t ; th e n c e S o u th 0 0 ° 0 3 '4 8 " E a s t p a r a ll e l t o J o h n Y o u n g P a r k w a y , a d is ta n c e o f 3 0 0 .0 0 f e e t ; th e n c e S o u th 8 9 ° 4 1 '4 9 " W e s t p a r a l l e l to C o lo n ia l D r i v e , a d is ta n c e o f 1 0 0 .0 0 f e e t t o th e P o in t o f B e g in n in g .
Community number: 120186 Panel: 0245 Suffix: F F.I.R.M. Date: 9/25/2009 Flood Zone: X Date of field work: 1/12/2017 Completion Date: 1/17/2017
Certified to: Mathura Properties 7, LLC; Bogin, Munns & Munns, P.A.; Alliant National Title Insurance Company; First Green Bank, its' successors and/or assigns.
Property Address: 801 North John Young Parkway Orlando, FL 32804
Survey number: SL 172985
P A R C E L A :
F r o m t h e S o u th w e s t c o r n e r o f t h e S o u th e a s t 1 /4 o f th e S o u t h e a s t 1 /4 o f S e c t io n 2 1 , T o w n s h ip 2 2 S o u th , R a n g e 2 9 E a s t , O r a n g e C o u n ty , F lo r id a , r u n N o r th 0 0 ° 0 3 '4 8 " W e s t a lo n g th e W e s t l in e o f s a id S o u t h e a s t 1 /4 o f S o u th e a s t 1 / 4 , a d is ta n c e o f 3 7 8 .8 4 f e e t; t h e n c e N o r th 8 9 ° 4 1 '4 9 " E a s t , a d i s ta n c e o f 8 0 .0 0 f e e t f o r t h e P o in t o f B e g in n in g ; t h e n c e N o r th 0 0 ° 0 3 '4 8 " W e s t a lo n g s a i d r i g h t o f w a y o f J o h n Y o u n g P a r k w a y , a d i s ta n c e o f 3 0 0 .0 0 fe e t ; th e n c e N o r t h 8 9 ° 4 1 '4 9 " E a s t p a r a l l e l t o C o lo n ia l D r i v e , a d i s ta n c e o f 3 0 0 .0 0 fe e t; th e n c e S o u th 0 0 ° 0 3 '4 8 " E a s t p a r a l le l t o J o h n Y o u n g P a r k w a y , a d is ta n c e o f 3 0 0 .0 0 f e e t; th e n c e S o u th 8 9 ° 4 1 '4 9 " W e s t p a r a ll e l t o C o lo n ia l D r i v e , a d i s ta n c e o f 3 0 0 . 0 0 fe e t to th e P o in t o f B e g in n i n g . A l s o d e s c r ib e d a s L o t 1 , D e t r i c h 's H o u s e o f B e e f , a c c o r d i n g to th e p la t t h e r e o f r e c o r d e d in P la t B o o k 8 , P a g e 8 1 , P u b li c R e c o r d s o f O r a n g e C o u n ty , F lo r id a .
L E S S A N D E X C E P T th a t p o r t io n o f th e a b o v e d e s c r i b e d P a r c e l A r e c o r d e d M a r c h 1 3 , 1 9 9 0 , in O f f ic ia l R e c o r d s B o o k 4 1 6 5 , P a g e 8 9 8 , P u b li c R e c o r d s o f O r a n g e C o u n ty , F lo r id a .
P A R C E L B :
F r o m t h e S o u th w e s t c o r n e r o f t h e S o u th e a s t 1 /4 o f th e S o u t h e a s t 1 /4 o f S e c t io n 2 1 , T o w n s h ip 2 2 S o u th , R a n g e 2 9 E a s t , O r a n g e C o u n ty , F lo r id a , r u n N o r th 0 0 ° 0 3 '4 8 " W e s t a lo n g th e W e s t l in e o f s a id S o u t h e a s t 1 /4 o f S o u th e a s t 1 / 4 , a d is ta n c e o f 3 7 8 .8 4 f e e t; t h e n c e N o r th 8 9 ° 4 1 '4 9 " E a s t , a d i s ta n c e o f 3 8 0 .0 0 fe e t fo r t h e P o in t o f B e g i n n in g ; th e n c e N o r t h 0 0 ° 0 3 '4 8 " W e s t p a r a l le l to th e s a id E a s t r ig h t o f w a y o f J o h n Y o u n g P a r k w a y , a d i s ta n c e o f 3 0 0 .0 0 fe e t ; th e n c e N o r th 8 9 ° 4 1 '4 9 " E a s t p a r a l le l to s a id C o lo n ia l D r i v e , a d i s t a n c e o f 1 0 0 .0 0 fe e t ; th e n c e S o u th 0 0 ° 0 3 '4 8 " E a s t p a r a ll e l t o J o h n Y o u n g P a r k w a y , a d is ta n c e o f 3 0 0 .0 0 f e e t ; th e n c e S o u th 8 9 ° 4 1 '4 9 " W e s t p a r a l l e l to C o lo n ia l D r i v e , a d is ta n c e o f 1 0 0 .0 0 f e e t t o th e P o in t o f B e g in n in g .
ORLANDO, FLSTNL EVENT HALL
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MARKET INFORMATION
Area Demographics
Retail Market Analysis
Primary data sources utilized for this analysis include CoStar Property and national published data sources. STNL Event Hall is located in the West Colonial Submarket within the Orlando Retail Metro Market as defined by CoStar Property. This data was sourced from the 2017 2Q figures published by CoStar Property.
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
Source: CoStar 2017
MARKET INFORMATION
AREA DEMOGRAPHICS
1-Mile 3-Mile 5-Mile
Population2022 Projection 4,692 94,154 348,7282017 Estimate 4,342 86,047 317,6452010 Census 4,322 79,111 285,391Growth 2010-2017 0.46% 8.77% 11.30%Median Age 43 37 35
Income2017 Average Household Income $57,952 $60,755 $58,8462017 Median Household Income $31,848 $38,118 $41,255
2017 Consumer SpendingApparel $2,220,000 $47,046,000 $169,248,000Entertainment&Hobbies $2,580,000 $56,635,000 $201,543,000Food&Alcohol $9,054,000 $200,188,000 $727,540,000Household Expenses $4,920,000 $99,966,000 $348,504,000Transportation $7,392,000 $160,094,000 $608,016,000Health Care $1,882,000 $36,020,000 $126,315,000Education/Day Care $2,012,000 $45,574,000 $156,794,000
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSIS
12 Mo. Deliveries in SF (000) 12 Mo. Net Absorption (000) Vacancy Rate 12 Mo. Rent Growth
11 73 8.0% 5.1%
Annual Trends 12 Month Change Hist. Avg. Fcst. Avg. Peak When Trough When
Vacancy -0.6% 5.5% 8.3% 11.4% 2012 Q2 0.0% 2005 Q4Net Absorption (000) 73 62 53 651 2002 Q1 (410) 2009 Q1Net Deliveries (000) 11 108 97 651 2002 Q1 0 2011 Q2Rent Growth 5.1% -0.4% 1.0% 5.4% 2017 Q3 -8.0% 2010 Q2Sales ($ millions) $33 $38 N/A $85 2015 Q1 $9 2011 Q2
KEY INDICATORS
Current Quarter RBA (000) Vacancy Rate Asking Rent Availability Rate Net Absorption (000)
Net Deliveries (000)
Under Const. (000)
Mall 1,293 17.2% $25.22 37.3% 0 0 259Power Center 957 14.7% $15.62 17.2% (57) -- 0Neighborhood Center 1,951 6.6% $14.90 10.0% (7) -- 0SUBMARKET 10,488 8.0% $16.29 14.4% (119) 0 259
NET ABSORPTION, NET DELIVERIES AND VACANCY RATE
© 2017 CoStar Group Page 1As of Oct 23, 2017
OverviewWest Colonial Retail
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSISBUILDINGS BY VACANCY
BUILDINGS BY VACANCY RATE BUILDINGS BY VACANT SF
© 2017 CoStar Group Page 2As of Oct 23, 2017
OverviewWest Colonial Retail
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSISCUMULATIVE NET ABSORPTION
NET DELIVERIES
© 2017 CoStar Group Page 4As of Oct 23, 2017
OverviewWest Colonial Retail
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSISCONSTRUCTION ACTIVITY
12 MONTH AVERAGE DELIVERIES IN SF AVERAGE BUILDING SIZE IN SF
© 2017 CoStar Group Page 5As of Oct 23, 2017
OverviewWest Colonial Retail
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSISUNDER CONSTRUCTION PROJECTS
No. Property Name Address % Leased GLA Start Yr. Deliv. Yr Owner/Developer
1 362 Main St 362 Main St 0% 259,120 2017 2018
DELIVERED PROJECTS
No. Property Name Address % Leased GLA Start Yr. Deliv. Yr Owner/Developer
3 3101 W Princeton St 3101 W Princeton St 100% 146,861 2009 2010Wal-Mart Stores, Inc.
17 Walgreen's 8802 W Colonial Dr 100% 16,000 2009 2010Walgreens Boots Allian...
11 Westside Plaza 609 N Powers Dr 100% 32,282 2008 2009
5 Colonial Town Center 8010 W Colonial Dr 96% 49,200 2008 2009Burillo Financial LLC
14 Mel Laurn Square 639 N Pine Hills Rd 100% 20,160 2007 2008Amrit & Seerojnie Dabi...
16 The Soiree 6394 Silver Star Rd 100% 16,200 2007 2008
8 Wal-Mart Neighborhood Market 7818 W Colonial Dr 100% 39,152 2007 2007
Wal-Mart Stores, Inc.
10 Shoppes Of Ocoee 10185 W Colonial Dr 100% 33,612 2006 2007Jason ConsortiUstler Development Inc
18 ABC Liquors 10815 W Colonial Dr 100% 14,719 2006 2007ABC Fine Wine & Spirit...
PROPOSED PROJECTS
No. Property Name Address % Leased GLA Start Yr. Deliv. Yr Owner/Developer
2 600 W Amelia St 600 W Amelia St 0% 150,000 N/ACity of Orlando Utilit...Ustler Development, In...
13 Shoppes of West Oaks 9290 W Colonial Dr 0% 27,300 N/AReal Property Speciali...
12 Freestanding Retail BTS 1172 Daniels Rd 0% 28,000 N/A
15 14991 W Colonial Dr 14991 W Colonial Dr 0% 17,150 N/A
21 Freestanding Retail BTS 1200 Daniels Rd 0% 13,000 N/A
6 The Princeton Building 2 Edgewater Dr 0% 43,977 N/A
7 Grocery SEC Avalon Rd & SR-50 0% 42,000 N/A
9 9961 W Colonial Dr 9961 W Colonial Dr 0% 36,000 N/A
19 10945 W Colonial Dr 10945 W Colonial Dr 0% 14,340 N/A
4 Anchor Building 14120 W Colonial Dr 0% 122,373 N/ABLF Realty, P.A.
© 2017 CoStar Group Page 6As of Oct 23, 2017
OverviewWest Colonial Retail
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSIS
ASKING RENT LEVELS AND ANNUAL GROWTH
© 2017 CoStar Group Page 7As of Oct 23, 2017
OverviewWest Colonial Retail
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSIS
SALES VOLUME AND MEDIAN PRICE
© 2017 CoStar Group Page 8As of Oct 23, 2017
OverviewWest Colonial Retail
ORLANDO, FLSTNL EVENT HALL
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSISHISTORICAL SALES TRANSACTIONS
12 MONTH AVERAGE SALES VOLUME IN MILLIONS 12 MONTH SALES VOLUME IN MILLIONS BY OWNER TYPE
© 2017 CoStar Group Page 9As of Oct 23, 2017
OverviewWest Colonial Retail
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
MARKET INFORMATION
RETAIL MARKET ANALYSIS
HISTORICAL SALES TRANSACTIONS
No. Property Sale Date Price SF Price Per SF Built Buyer Name
9 Advance Auto Parts, 151 N Clarke Rd 9/15/2017 $2,120,000 6,860 $309 2007 KC Apartments (Private)
3 Hiawassee Plaza, 6801 W Colonial Dr 9/7/2017 $3,433,181 56,184 $61 1983 Sample USA Corp (Private)
11 Chevron, 12890 W Colonial Dr 7/7/2017 $2,000,000 3,343 $598 2001 Erilyn Group, Inc. (Private)
1 Best Buy, 9537 W Colonial Dr 6/30/2017 $5,750,000 44,988 $128 2000 Liliya Yerassilova (Private)
15 Queen of Pawns, 5623 W Colonial Dr 6/28/2017 $1,071,400 4,948 $217 1973 Rose Diamond Investments Inc
(Private)
22 Hub Cap Heaven Bldg 1, 3240 W Colonial Dr 6/23/2017 $496,543 5,189 $96 1969
2 West Oaks Town Center, 9557 W Colonial Dr 6/15/2017 $5,251,988 50,577 $104 1994 DDR Corp. (Unknown)
16 West Oaks Town Center, 9669 W Colonial Dr 6/15/2017 $1,034,468 9,962 $104 2001 DDR Corp. (Unknown)
20 West Oaks Town Center, 9571 W Colonial Dr 6/15/2017 $650,463 6,264 $104 2001 DDR Corp. (Unknown)
18 Silver Pines Village - Building 3, 5324 Silver Star Rd 5/3/2017 $784,465 87,032 $9 1969 Xu Wu (Private)
23 Silver Star Building 4, 5392 Silver Star Rd 5/3/2017 $270,406 30,000 $9 1969 Xu Wu (Private)
24 Silver Star Building 1, 5300 Silver Star Rd 5/3/2017 $207,311 23,000 $9 1984 Xu Wu (Private)
25 Silver Star Building 2, 5302 Silver Star Rd 5/3/2017 $87,819 9,743 $9 1969 Xu Wu (Private)
21 2172 Silver Star Rd 4/27/2017 $550,000 1,575 $349 1970
17 532 W Church St 3/8/2017 $1,000,000 6,055 $165 1922 Casey Preston (Unknown)
10 The WingHouse Bar & Grill, 3201 Parkway Center Ct 1/27/2017 $2,089,900 6,544 $319 1982 STORE Capital Corporation
(Unknown)
5 Western Way Shopping Center, 2120 W Colonial Dr 1/23/2017 $2,460,319 33,302 $74 1955 Royal Limited (Unknown)
14 2150 W Colonial Dr 1/23/2017 $1,073,093 14,525 $74 1965 Royal Limited (Unknown)
7 Colonial West Retail Center, 7332 W Colonial Dr 1/20/2017 $2,300,000 10,900 $211 1999 Jose Chacalo Hilu (Private)
19 5212 W Colonial Dr 1/5/2017 $775,000 6,198 $125 1965
87-11 / Realty Income sale leaseback, 6946 Clarcona Ocoee Rd
12/22/2016 $2,245,600 1,692 $1,327 1991 Realty Income Corporation (Unknown)
4 THE SPORTS AUTHORITY, 7500 W Colonial Dr 12/15/2016 $2,700,000 44,179 $61 1996 Volta Global (Institutional)
6 Orlando Ale House, 7379 W Colonial Dr 12/15/2016 $2,450,000 5,671 $432 1993 Alvaro Castillo (Private)
12 Advance Auto Parts, 5410 Silver Star Rd 12/9/2016 $1,805,000 7,000 $258 2004 BK Properties (Private)
13 Dunkin Donuts, 5600 W Colonial Dr 11/4/2016 $1,725,000 5,054 $341 1986 Hayath Javeed (Private)
© 2017 CoStar Group Page 10As of Oct 23, 2017
OverviewWest Colonial Retail
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MARKET INFORMATION
RETAIL MARKET ANALYSIS
SUBMARKET SALES HISTORY
Volume Price
Year No. of Sales SF Volume Turnover Median Per SF Avg Price
2017 23 434,155 $33,406,357 4.1% $103.84 $1,670,318
2016 37 1,191,140 $54,658,627 11.4% $92.59 $1,561,675
2015 25 658,391 $58,647,388 6.3% $163.52 $2,443,641
2014 26 694,401 $58,243,923 6.6% $107.14 $2,647,451
2013 26 996,672 $58,503,029 9.5% $81.45 $3,079,107
2012 31 1,196,794 $36,939,442 11.5% $68.90 $1,477,578
2011 14 235,938 $9,128,700 2.3% $83.03 $829,882
2010 16 137,003 $11,886,581 1.3% $149.05 $849,042
2009 11 88,477 $9,682,900 0.9% $227.27 $880,264
2008 23 382,171 $31,023,479 3.8% $213.36 $1,551,174
2007 24 740,316 $48,884,197 7.4% $166.89 $2,222,009
2006 21 617,754 $58,093,872 6.2% $198.04 $2,766,375
2005 19 673,888 $43,135,201 6.9% $86.67 $2,270,274
© 2017 CoStar Group Page 12As of Oct 23, 2017
OverviewWest Colonial Retail
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FINANCIAL ANALYSIS
Tenant Summary
Pricing Detail
Acquisition Financing
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HOLDTHYSSENR E A L E S T A T E S E R V I C E S
FINANCIAL ANALYSIS
TENANT SUMMARY
Tenant Name: Majestic Event Center
Percentage of RBA: 100%
Leace Commencement: June 1, 2016
Lease Term: 5 Years
Landlord Expenses: Roof&Structure Real Estate Taxes
Tenant Expenses: Utilities CAM Sales Tax
Scheduled Gross Rent: 2016 $236,616 2017 $248,448 2018 $260,868 2019 $273,912 2020 $287,673
Blended Cap Over Term: 8.7%
Year One Cap: 8% (7.97%)
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FINANCIAL ANALYSIS
PRICING DETAIL
Summary
Price $2,633,333Down Payment $789,999 30%Price Per SqFt $126.73Gross Leasable Area 20,780 SFLot Size 120,225 SFYear Built 1980
Returns Year 1 Over Term
CAP Rate 7.97% 8.7%
Operating Data
NOI (after RE Tax) $209,806Real Estate Taxes $38,640
Financing 1st Loan Quote 2nd Loan Quote
Quote Provider Scott Pritchett - First Green Bank Robert Cieswick - SeacoastBankLoan Amount $1,843,334 $1,843,334Loan Type New NewInterest Rate 4.79% 4.40%-4.75%Amortization 15 Years 20 Years
Loan information is subject to change.