OFFERING MEMORANDUM Free Standing Restaurant€¦ · Orlando, FL 32827 Free Standing Restaurant OFFERING MEMORANDUM FRANCISCO JARAMILLO, MBA, CCIM Director 0: 407.683.4444 [email protected]

KW COMMERCIAL407.207.08259161 Narcoossee Road, Ste. 107

Orlando, FL 32827

Free Standing Restaurant

OFFERING MEMORANDUM

FRANCISCO JARAMILLO, MBA, CCIMDirector0: [email protected]

PRESENTED BY:

PALM BAY, FL

OFFERING MEMORANDUM

Each Office Independently Owned and Operated kwcommercial.com 2

OFFERING MEMORANDUM

Confidentiality & DisclaimerPALM BAY, FL

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness ,veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived,or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independentprofessionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KWCommercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any partyregarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that maybe provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with acertified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed byOrlando Lake Nona in compliance with all applicable fair housing and equal opportunity laws.

KW COMMERCIAL407.207.08259161 Narcoossee Road, Ste. 107

Orlando, FL 32827

PRESENTED BY:

FRANCISCO JARAMILLO, MBA, CCIMDirector0: [email protected]

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors shouldconduct your own investigation of the property and transaction.

http://www.kwcommercial.com

www.kwcommercial.com 3

PROPERTY INFORMATION

1 | PROPERTY INFORMATION

EXECUTIVE SUMMARY

PROPERTY DESCRIPTION

PROPERTY DETAILS

ADDITIONAL PHOTOS

1PROPERTY INFORMATIONFREE STANDING RESTAURANT

OFFERING MEMORANDUM


OFFERING SUMMARY

SALE PRICE: $990,000

LOT SIZE: 1.1 Acres

BUILDING SIZE: 5,087

ZONING: Restaurant

PRICE / SF: $194.61

PROPERTY OVERVIEW5097 sf restaurant on 1.1 acres on highly trafficked road in Palm Bay, FL. Owner/user or national chain would be ideal for thisproperty.

PROPERTY HIGHLIGHTS• About 175' of frontage on main road

• Traffic Counts: 30,500

• 10 Minute Population: 69,754

• 10 Minute HHI: $56,970

• Great restaurant market potential

Executive Summary

FREE STANDING RESTAURANT 1 | PROPERTY INFORMATION



PROPERTY OVERVIEW5097 sf restaurant on 1.1 acres on highly trafficked road in Palm Bay, FL. Owner/user or national chain wouldbe ideal for this property.

LOCATION OVERVIEWFrom I-95, take exit 176 Eastbound towards Palm Bay. Drive approximately 2.8 miles to property on left.

Property Description




SALE PRICE $990,000

LOCATION INFORMATIONBuilding Name Free Standing Restaurant

Street Address 1901 Palm Bay Drive, NE

City, State, Zip Palm Bay, FL 32905

County/Township Brevard

BUILDING INFORMATIONBuilding Size 5,087 SF

Load Factor Yes

PROPERTY DETAILSProperty Type Retail

Property Subtype Free Standing Building

Zoning Restaurant

Lot Size 1.1 Acres

APN# 28-37-22-00-273

Property Details




Additional Photos




LOCATION INFORMATION

2 | LOCATION INFORMATION

REGIONAL MAP

LOCATION MAPS

AERIAL MAP

2LOCATION INFORMATIONFREE STANDING RESTAURANT

OFFERING MEMORANDUM


Free Standing Restaurant

Regional Map

FREE STANDING RESTAURANT 2 | LOCATION INFORMATION



Location Maps




Aerial Map




DEMOGRAPHICS

3 | DEMOGRAPHICS

EXECUTIVE_SUMMARY.PDF

DEMOGRAPHICS MAP

3DEMOGRAPHICSFREE STANDING RESTAURANT

OFFERING MEMORANDUM

Executive Summary1901 Palm Bay Rd NE, Palm Bay, Florida, 32905 Prepared by Francisco Jaramillo, MBA, CCIMDrive Time: 10 minute radii Latitude: 28.03519

Longitude: -80.61489

10 minutesPopulation

2000 Population 56,4752010 Population 64,5152018 Population 69,7542023 Population 74,4062000-2010 Annual Rate 1.34%2010-2018 Annual Rate 0.95%2018-2023 Annual Rate 1.30%2018 Male Population 47.9%2018 Female Population 52.1%2018 Median Age 46.7

In the identified area, the current year population is 69,754. In 2010, the Census count in the area was 64,515. The rate of change since 2010 was 0.95% annually. The five-year projection for the population in the area is 74,406 representing a change of 1.30% annually from 2018 to 2023. Currently, the population is 47.9% male and 52.1% female.

Median Age

The median age in this area is 46.7, compared to U.S. median age of 38.3.Race and Ethnicity

2018 White Alone 73.7%2018 Black Alone 15.5%2018 American Indian/Alaska Native Alone 0.3%2018 Asian Alone 3.5%2018 Pacific Islander Alone 0.1%2018 Other Race 3.0%2018 Two or More Races 3.9%2018 Hispanic Origin (Any Race) 13.6%

Persons of Hispanic origin represent 13.6% of the population in the identified area compared to 18.3% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 56.5 in the identified area, compared to 64.3 for the U.S. as a whole.

Households2000 Households 24,7172010 Households 28,8002018 Total Households 31,0772023 Total Households 33,1382000-2010 Annual Rate 1.54%2010-2018 Annual Rate 0.93%2018-2023 Annual Rate 1.29%2018 Average Household Size 2.19

The household count in this area has changed from 28,800 in 2010 to 31,077 in the current year, a change of 0.93% annually. The five-year projection of households is 33,138, a change of 1.29% annually from the current year total. Average household size is currently 2.19, compared to 2.17 in the year 2010. The number of families in the current year is 17,418 in the specified area.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography.

April 11, 2019

©2019 Esri Page 1 of 2



10 minutesMedian Household Income

2018 Median Household Income $40,9002023 Median Household Income $47,7492018-2023 Annual Rate 3.15%

Average Household Income

2018 Average Household Income $56,9702023 Average Household Income $67,5452018-2023 Annual Rate 3.46%

Per Capita Income2018 Per Capita Income $26,1312023 Per Capita Income $30,7292018-2023 Annual Rate 3.29%

Households by IncomeCurrent median household income is $40,900 in the area, compared to $58,100 for all U.S. households. Median household income is projected to be $47,749 in five years, compared to $65,727 for all U.S. households

Current average household income is $56,970 in this area, compared to $83,694 for all U.S. households. Average household income is projected to be $67,545 in five years, compared to $96,109 for all U.S. households

Current per capita income is $26,131 in the area, compared to the U.S. per capita income of $31,950. The per capita income is projected to be $30,729 in five years, compared to $36,530 for all U.S. households Housing

2000 Total Housing Units 27,7002000 Owner Occupied Housing Units 15,6262000 Renter Occupied Housing Units 9,0912000 Vacant Housing Units 2,983




Currently, 50.0% of the 36,646 housing units in the area are owner occupied; 34.8%, renter occupied; and 15.2% are vacant. Currently, in the U.S., 56.0% of the housing units in the area are owner occupied; 32.8% are renter occupied; and 11.2% are vacant. In 2010, there were 34,140 housing units in the area - 52.4% owner occupied, 32.0% renter occupied, and 15.6% vacant. The annual rate of change in housing units since 2010 is 3.20%. Median home value in the area is $146,592, compared to a median home value of $218,492 for the U.S. In five years, median value is projected to change by 3.31% annually to $172,490.


April 11, 2019



POPULATION 1 MILE 3 MILES 5 MILES

Total Population 8,191 58,610 115,328

Median Age 42.9 42.5 43.3

Median Age (Male) 36.6 38.8 40.8

Median Age (Female) 47.9 45.7 45.5

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total Households 3,978 24,641 47,402

# Of Persons Per HH 2.1 2.4 2.4

Average HH Income $43,537 $51,368 $57,832

Average House Value $155,068 $170,502 $210,652

* Demographic data derived from 2010 US Census

Demographics Map

FREE STANDING RESTAURANT 3 | DEMOGRAPHICS



ADDITIONAL INFORMATION

4 | ADDITIONAL INFORMATION

10_MINUTE_DRIVE_MAP.PDF

EXECUTIVE_SUMMARY.PDF

GRAPHIC_PROFILE.PDF

4ADDITIONAL INFORMATIONFREE STANDING RESTAURANT

OFFERING MEMORANDUM

10 Minute Drive . 1901 Palm Bay RoadFrancisco J Jaramillo, MBA, CCIM - 407-683-4444

Source: ©2018 Esri

April 11, 2019




10 minutesPopulation

2000 Population 56,4752010 Population 64,5152018 Population 69,7542023 Population 74,4062000-2010 Annual Rate 1.34%2010-2018 Annual Rate 0.95%2018-2023 Annual Rate 1.30%2018 Male Population 47.9%2018 Female Population 52.1%2018 Median Age 46.7

In the identified area, the current year population is 69,754. In 2010, the Census count in the area was 64,515. The rate of change since 2010 was 0.95% annually. The five-year projection for the population in the area is 74,406 representing a change of 1.30% annually from 2018 to 2023. Currently, the population is 47.9% male and 52.1% female.

Median Age

The median age in this area is 46.7, compared to U.S. median age of 38.3.Race and Ethnicity

2018 White Alone 73.7%2018 Black Alone 15.5%2018 American Indian/Alaska Native Alone 0.3%2018 Asian Alone 3.5%2018 Pacific Islander Alone 0.1%2018 Other Race 3.0%2018 Two or More Races 3.9%2018 Hispanic Origin (Any Race) 13.6%

Persons of Hispanic origin represent 13.6% of the population in the identified area compared to 18.3% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 56.5 in the identified area, compared to 64.3 for the U.S. as a whole.

Households2000 Households 24,7172010 Households 28,8002018 Total Households 31,0772023 Total Households 33,1382000-2010 Annual Rate 1.54%2010-2018 Annual Rate 0.93%2018-2023 Annual Rate 1.29%2018 Average Household Size 2.19

The household count in this area has changed from 28,800 in 2010 to 31,077 in the current year, a change of 0.93% annually. The five-year projection of households is 33,138, a change of 1.29% annually from the current year total. Average household size is currently 2.19, compared to 2.17 in the year 2010. The number of families in the current year is 17,418 in the specified area.


April 11, 2019




10 minutesMedian Household Income

2018 Median Household Income $40,9002023 Median Household Income $47,7492018-2023 Annual Rate 3.15%

Average Household Income

2018 Average Household Income $56,9702023 Average Household Income $67,5452018-2023 Annual Rate 3.46%

Per Capita Income2018 Per Capita Income $26,1312023 Per Capita Income $30,7292018-2023 Annual Rate 3.29%

Households by IncomeCurrent median household income is $40,900 in the area, compared to $58,100 for all U.S. households. Median household income is projected to be $47,749 in five years, compared to $65,727 for all U.S. households

Current average household income is $56,970 in this area, compared to $83,694 for all U.S. households. Average household income is projected to be $67,545 in five years, compared to $96,109 for all U.S. households

Current per capita income is $26,131 in the area, compared to the U.S. per capita income of $31,950. The per capita income is projected to be $30,729 in five years, compared to $36,530 for all U.S. households Housing





Currently, 50.0% of the 36,646 housing units in the area are owner occupied; 34.8%, renter occupied; and 15.2% are vacant. Currently, in the U.S., 56.0% of the housing units in the area are owner occupied; 32.8% are renter occupied; and 11.2% are vacant. In 2010, there were 34,140 housing units in the area - 52.4% owner occupied, 32.0% renter occupied, and 15.6% vacant. The annual rate of change in housing units since 2010 is 3.20%. Median home value in the area is $146,592, compared to a median home value of $218,492 for the U.S. In five years, median value is projected to change by 3.31% annually to $172,490.


April 11, 2019


Graphic Profile1901 Palm Bay Rd NE, Palm Bay, Florida, 32905 Prepared by Francisco Jaramillo, MBA, CCIMDrive Time: 10 minute radius Latitude: 28.03519


2018 Population by Race2018 Population by Race

60,000

50,000

40,000

30,000

20,000

10,000

0White Black Am.Ind. Asn/Pac Other Two+

73.7%

15.5%

0.3% 3.6% 3.0% 3.9%

<55-1920-2425-3435-4445-5455-6465+

2018 Population by Age2018 Population by Age

4.9%

14.7%

5.9%12.8%

10.0%

11.4%

13.6%26.8%

2018 Percent Hispanic Origin: 13.6%

HouseholdsHouseholds

40,00035,00030,00025,00020,00015,00010,0005,000

0Census 2010 2018 2023

28,80031,077

33,138

<$100K$100-199K$200-299K$300-399K$400-499K$500K+

2018 Home Value2018 Home Value

34.3%

37.0%

19.6%

6.0%1.1%2.0%

2018-2023 Annual Growth Rate2018-2023 Annual Growth Rate

Perc

ent

43.5

32.5

21.5

10.5

0Population Households Median Household Income Owner Occupied Housing Units

1.30 1.29

3.15

1.75

20182023

Household IncomeHousehold Income

Perc

ent

15

10

5

0<$15K $15K-$25K $25K-$35K $35K-$50K $50K-$75K $75K-$100K $100K-$150K $150K-$200K $200K+

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023.

April 11, 2019


Documents

OFFERING MEMORANDUM Free Standing Restaurant€¦ · Orlando, FL 32827 Free Standing Restaurant OFFERING MEMORANDUM FRANCISCO JARAMILLO, MBA, CCIM Director 0: 407.683.4444 [email protected]