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Justin Krieger, Principal
One Broadway Suite 300A | Denver, CO 80203303.962.9555 | www.PinnacleREA.comConfidential Offering Memorandum
PEORIA STREET PLAZADenver, CO 80239Strip Center + Two Pad Sites Available Individually or as a Por tfolio
This confidential Offering Memorandum, has been prepared by Pinnacle Real Estate Advisors, LLC (“Pinnacle REA”) for use by a limited number of qualified parties. This Offering Memorandum has been provided to you at your request based upon your assurances that you are a knowledgeable and sophisticated investor in commercial real estate projects and developments. Pinnacle REA recommends you, as a potential buyer/investor, should perform your own independent examination and inspection of the property described herein as Peoria Street Plaza at 4601, 4611 & 4631 Peoria Street located in Denver, Colorado (the “Property”) and of all of the information provided herein related to the Property. By accepting this Offering Memorandum, you acknowledge and agree that you shall rely solely upon your own examination and investigation of the Property and you shall not rely on any statements made in this Offering Memorandum or upon any other materials, statements or information provided by Pinnacle REA or its brokers.
Pinnacle REA makes no guarantee, warranty or representation about the completeness or accuracy of the information set forth in this Offering Memorandum. You are responsible to independently verify its accuracy and completeness. Pinnacle REA has prepared the information concerning the Property based upon assumptions relating to the general economy, its knowledge of other similar properties in the market, and on other market assumptions including factors beyond the control of the Pinnacle REA and the Owner of the Property. Pinnacle Real Estate Advisors make no representation or warranty as to either the accuracy or completeness of the information contained herein, and the information set forth in this Offering Memorandum in not intended to be a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be accurate, Pinnacle REA and the Property Owner disclaim any responsibility or liability for any inaccuracies. Further, Pinnacle REA and the Property Owner disclaim any and all liability for any express or implied representations and warranties contained in, or for any omissions from, the Offering Memorandum and for any other written or oral communication transmitted or made available to you. Pinnacle REA shall make available to you, as a qualified prospective investor, additional information concerning the Property and an opportunity to inspect the Property upon written request.
This Offering Memorandum and the contents are intended to remain confidential except for such information which is in the public domain or is otherwise available to the public. By accepting this Offering Memorandum, you agree that you will hold and treat Offering Memorandum in the strictest confidence, that you will not photocopy or duplicate it, or distribute it. You agree you will not disclose this Offering Memorandum or its contents to any other person or entity, except to outside advisors retained by you and from whom you have obtained an agreement of confidentiality, without the prior written authorization of Pinnacle REA. You agree that you will use the information in this Offering Memorandum for the sole purpose of evaluating your interest in the Property. If you determine you have no interest in the property, kindly return the Offering Memorandum to Pinnacle REA at your earliest convenience.
Investment Contact:
Justin [email protected]
DISCLAIMER
© 2018 Pinnacle Real Estate Advisors, LLC. All information contained herein has been obtained from sources we believe to be reliable. However, we accept no responsibility for its accuracy and encourage verification of all information prior to making financial decisions.
INVESTMENT CONTACT
Justin [email protected]
One Broadway, Suite A300 | Denver, CO 80203www.PinnacleREA.com
PEORIA STREET PLAZADenver, CO 80239
TABLE OF CONTENTSExecutive SummaryMapsTenant SummaryIncome & ExpensesDemographicsTraffic Counts
Denver, CO 80239PEORIA STREET PLAZA
EXECUTIVE SUMMARY
4611 Peoria Street (Retail Strip Center)Building Size: 19,070 SF ($248.10/SF)Lot Size: 110,451 SFZoning: B-8Price: $4,731,300Cap Rate: 7%
Investment Highlights:
• Strip Center + Two Developable Pad Sites Available Individually or as a Portfolio• High-Quality 2006 Construction• 100% Occupied• 6 of 10 Tenants are National• Value-Add Opportunity: Some Tenants Still on Original Below-Market Gross Leases• Surrounded by National Tenants & New Construction• High-Traffic Location on Major 6 Lane Thoroughfare Directly off of I-70 Exit
PEORIA STREET PLAZADenver, CO 80239
4631 Peoria Street (Pad Site)Lot Size: 31,573 SFZoning: B-8Price: Contact broker
4601 Peoria Street (Pad Site)Lot Size: 37,221 SFZoning: B-8Price: Contact broker
Denver, CO 80239PEORIA STREET PLAZA
N
AERIAL MAP
E 46TH AVENUE
E 45TH AVENUE
PEO
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PEORIA STREET PLAZADenver, CO 80239
INTERSTATE
70
INTERSTATE
70
4601
46314611
39,265 VPD
60,150 VPD
Denver, CO 80239PEORIA STREET PLAZA
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Alameda AveAlameda Ave
Colfax Ave
Baseline Rd
South Boulder Rd
96th Ave
104th Ave
136th Ave
120th Ave
112th Ave
144th Ave
144th Avenue
88th Ave
80th Ave
72nd Ave
64th Ave
58th Ave
44th Ave
56th AveWar
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Smoky Hill Rd
Jordan Rd
Hampden Ave
W Evans Ave
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Belleview Ave
Arapahoe Rd
Quincy AveQuincy Ave
Dry Creek Rd
Lincoln Ave
Main St
Del
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County Line RdMineral Ave
Orchard RdBowles Ave
Morrison Rd
6th Ave
Iliff Ave
Mississippi Ave
Montview Blvd
Yale Ave
Colfax Ave
160th Avenue
Yos
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38th Ave32nd Ave
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Rocky MountainArsenal
Wil dlife Refuge
Cherry CreekState Park
Chatf ieldState Park
BEAR CREEK PARK
InterlockenBusiness Park
StapletonRedevelopment
Area
LowryRedevelopment
Area
DenverTech Center
InvernessBusiness
Park
MeridianBusiness Park
MONTBELLO
KEN CARYL RANCH
CHERRY HILLS VILLAGE
MORRISON
HIGHLANDS RANCH
LONE TREE
GREENWOODVILLAGE
NORTHGLENN
BROOMFIELD
SUPERIOR
LOUISVILLE
LAFAYETTE
BRIGHTON
WHEATRIDGE
ERIE
NIWOTFORT LUPTON
DACONO
FREDERICK
FIRESTONE
VALMONT
LOVELAND
COMMERCECITY
LARIMERCOUNTY
ADAMSCOUNTY
ARAPAHOECOUNTY
DOUGLAS COUNTY
WELDCOUNTY
JEFFERSONCOUNTY
ADAMSCOUNTY
BOULDERCOUNTY
JEFFERSON COUNTY
Jef fersonCountyAirpor t
Centenni alAirpor t
LONGMONT
BOULDER
WESTMINSTER
THORNTON
ARVADA
DOWNTOWN
MIDTOWNLAKEWOOD
GOLDEN
EVERGREEN
LITTLETON
PARKER
AURORADENVER
DenverInternational
Airport
Ken Caryl Ave.
AREA OVERVIEW
N
PEORIA STREET PLAZADenver, CO 80239
Denver, CO 80239PEORIA STREET PLAZA
TENANT SUMMARY
Suite Tenant GLA % of GLA
Lease Commence
Lease Expire
Annual Rent
Rent/SF
Rent Increase Date
Changes To Options Lease
Type
A1 Rusty's Vape & Smoke 1,642 8.6% 11/13/15 05/12/21 $26,280 $16.00 Two 5 Year Options NNNA2 H&R Block 1,322 6.9% 10/01/06 04/30/20 $24,272 $18.36 5/1/2019 $18.72 One 4 Year Option NNNB&C Trina's Place 4,729 24.8% 03/01/17 09/30/24 $86,824 $18.36 9/1/2019 $18.72 None NNND1 Metro PCS 1,221 6.4% 11/01/13 02/28/22 $23,663 $19.38 2/1/2019 $19.76 None NNND2&E Fast Cash Pawn 3,371 17.7% 11/08/11 10/31/21 $52,250 $15.50 11/1/2019 $16.00 Two 5 Year Options NNNF1 Ice Cream Shop 1,180 6.2% 09/01/18 08/31/23 $27,140 $23.00 9/1/2019 $24.00 None NNNF2 Salon El Paisa 1,180 6.2% 04/01/16 03/31/21 $19,104 $16.19 4/1/2019 $16.66 None GrossG1 OneMain Financial 1,500 7.9% 08/11/06 08/31/20 $31,500 $21.00 None NNNG2 Fred Loya Insurance 909 4.8% 12/01/07 11/30/22 $24,725 $27.20 None NNNH Gano Excel 2,016 10.6% 10/15/13 10/31/21 $32,393 $16.06 11/1/2019 $16.87 None NNN
TOTAL VACANT 0 0.0% $0 TOTAL OCCUPIED 19,070 100.0% $348,151 TOTAL 19,070 100.0% $348,151
Note: Rusty’s Vape & Smoke receives a $667/month credit to compensate them for their tenant improvement costs. That credit expires approximately 5 years after their lease commencement.
Denver, CO 80239PEORIA STREET PLAZA
H&R BlockH&R Block, Inc. (H&R Block), incorporated on July 27, 1955, through its subsidiaries, provides tax preparation and other services. H&R Block provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories.
MetroPCSMetroPCS is a prepaid wireless service in the United States that is part of T-Mobile US, Inc.. MetroPCS provides nationwide talk, text, and data depending on the plan services using GSM, HSPA, HSPA+ and 4G LTE networks.
OneMain FinancialOneMain Holdings, Inc., incorporated on August 5, 2013, is a financial services holding company. OneMain Financial is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties.
FastCash Pawn & Gold CenterFast Cash Pawn’s primary business is the operation of large format, full-service pawn stores which make small pawn loans secured by personal property such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments. These pawn stores generate significant retail sales from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers.
Fred Loya InsuranceFred Loya Insurance is a premier auto insurance company specializing in affordable car and automobile insurance for all drivers. As of 2016 the company had 5,200 employees and 700 offices in Alabama, Arizona, California, Colorado, Georgia, Illinois, Indiana, Missouri, New Mexico, Nevada, Ohio and Texas. It is the 18th largest Latino-owned company in the country.
Gano ExcelSince 1995, Gano Excel products have been distributed in over 70 countries and currently has over 8 million customers and growing. From cultivation to extraction, to manufacturing - Gano Excel is 100% vertically integrated and owns 100% of the manufacturing processes. Gano Excel is one of the leading direct sales company in the industry.
NATIONAL TENANTS
Denver, CO 80239PEORIA STREET PLAZA
INCOME & EXPENSESNovember 2018 Projections PER SF
INCOMEBase Rent Occupied Space 19,070 SF $348,151 $18.25GROSS POTENTIAL RENT $348,151 $18.25 Other Income Expense Reimbursements $126,171 $6.62 TOTAL OTHER INCOME $126,171 $6.62
Gross Potential Income $474,322 $24.87 EFFECTIVE GROSS INCOME $474,322 $24.87
EXPENSESReal Estate Taxes (includes all three properties) $91,665 $4.81 Insurance $8,000 $0.42 CAM Electricity $2,700 $0.14 Water & Sewer $9,000 $0.47 Sanding & Snow Removal $5,000 $0.26 Trash Removal $5,600 $0.29 Sidewalk Maintenance & Repairs $1,000 $0.05 Paving Maintenance & Repairs $2,000 $0.10 Landscaping $5,000 $0.26 General Repairs & Maintenance $1,200 $0.06 Administrative Fee $4,750 $0.25 TOTAL CAM $36,250 $1.90 Management Fee $7,200 $0.38TOTAL EXPENSES $143,115 $7.50 % OF EGI 30.1%NET OPERATING INCOME $331,207 $17.37
Denver, CO 80239PEORIA STREET PLAZA
-100%0 SF
200619,070 SF
General Retail
Rent/SF/Yr:% Leased:
Total Available:
Year Built:GLA:
Building Type:-Secondary:
Radius 1 Mile 3 Mile 5 MilePopulation
2023 Projection 11,511 109,757 280,6462018 Estimate 10,465 99,395 256,7482010 Census 8,964 80,033 217,521Growth 2018 - 2023 10.00% 10.43% 9.31%Growth 2010 - 2018 16.74% 24.19% 18.03%
2018 Population by Hispanic Origin 5,673 47,459 110,1452018 Population 10,465 99,395 256,748
White 5,900 56.38% 68,784 69.20% 176,660 68.81%Black 3,488 33.33% 20,501 20.63% 52,833 20.58%Am. Indian & Alaskan 297 2.84% 2,242 2.26% 5,319 2.07%Asian 251 2.40% 3,512 3.53% 10,280 4.00%Hawaiian & Pacific Island 54 0.52% 392 0.39% 993 0.39%Other 474 4.53% 3,964 3.99% 10,662 4.15%U.S. Armed Forces 0 105 246
Households2023 Projection 3,345 33,276 95,2652018 Estimate 3,045 30,060 87,1862010 Census 2,631 23,483 73,532Growth 2018 - 2023 9.85% 10.70% 9.27%Growth 2010 - 2018 15.74% 28.01% 18.57%Owner Occupied 1,534 50.38% 15,974 53.14% 46,259 53.06%Renter Occupied 1,511 49.62% 14,086 46.86% 40,928 46.94%
2018 Households by HH Income 3,047 30,061 87,185Income: <$25,000 847 27.80% 6,368 21.18% 18,582 21.31%Income: $25,000 - $50,000 905 29.70% 7,156 23.80% 20,942 24.02%Income: $50,000 - $75,000 591 19.40% 5,536 18.42% 16,983 19.48%Income: $75,000 - $100,000 422 13.85% 3,951 13.14% 10,971 12.58%Income: $100,000 - $125,000 132 4.33% 2,060 6.85% 6,781 7.78%Income: $125,000 - $150,000 38 1.25% 1,474 4.90% 4,123 4.73%Income: $150,000 - $200,000 95 3.12% 1,701 5.66% 4,392 5.04%Income: $200,000+ 17 0.56% 1,815 6.04% 4,411 5.06%
2018 Avg Household Income $53,197 $77,923 $74,7632018 Med Household Income $45,159 $55,845 $55,152
Demographic Summary ReportPeoria Street Plaza
4611 Peoria St, Denver, CO 80239
Copyrighted report licensed to Pinnacle Real Estate Advisors - 334326.6/19/2018
Page 2
DEMOGRAPHICS
Denver, CO 80239PEORIA STREET PLAZA
-100%0 SF200619,070 SF-General Retail
Rent/SF/Yr:% Leased:
Total Available:Year Built:
GLA:Secondary:
Building Type:
Street Cross Street Cross Str DistCountYear
Avg DailyVolume
VolumeType
Miles fromSubject Prop
1 Peoria St E 46th Ave 0.06 S 2016 39,265 MPSI .072 Peoria St E 45th Ave 0.06 N 2017 60,150 MPSI .213 Albrook Dr Tulsa Ct 0.12 SE 2017 11,156 MPSI .224 E 47th Ave Nome St 0.02 E 2017 7,000 MPSI .305 Albrook Dr Tulsa Ct 0.01 NW 2014 7,620 MPSI .326 Peoria St I- 70 0.09 S 2017 51,000 MPSI .337 Peoria St E Andrews Dr 0.06 N 2017 25,540 MPSI .378 I70 Fwy Peoria St 0.11 W 2014 5,288 MPSI .429 I- 70 Peoria St 0.11 W 2016 5,160 MPSI .42
10 I- 70 Peoria St 0.02 W 2016 132,364 MPSI .43
Traffic Count ReportPeoria Street Plaza
4611 Peoria St, Denver, CO 80239
Copyrighted report licensed to Pinnacle Real Estate Advisors - 334326.6/19/2018
Page 1
-100%0 SF200619,070 SF-General Retail
Rent/SF/Yr:% Leased:
Total Available:Year Built:
GLA:Secondary:
Building Type:
Street Cross Street Cross Str DistCountYear
Avg DailyVolume
VolumeType
Miles fromSubject Prop
1 Peoria St E 46th Ave 0.06 S 2016 39,265 MPSI .072 Peoria St E 45th Ave 0.06 N 2017 60,150 MPSI .213 Albrook Dr Tulsa Ct 0.12 SE 2017 11,156 MPSI .224 E 47th Ave Nome St 0.02 E 2017 7,000 MPSI .305 Albrook Dr Tulsa Ct 0.01 NW 2014 7,620 MPSI .326 Peoria St I- 70 0.09 S 2017 51,000 MPSI .337 Peoria St E Andrews Dr 0.06 N 2017 25,540 MPSI .378 I70 Fwy Peoria St 0.11 W 2014 5,288 MPSI .429 I- 70 Peoria St 0.11 W 2016 5,160 MPSI .42
10 I- 70 Peoria St 0.02 W 2016 132,364 MPSI .43
Traffic Count ReportPeoria Street Plaza
4611 Peoria St, Denver, CO 80239
Copyrighted report licensed to Pinnacle Real Estate Advisors - 334326.6/19/2018
Page 1
TRAFFIC COUNTS
Justin Krieger, Principal
© 2018 Pinnacle Real Estate Advisors, LLC. All information contained herein has been obtained from sources we believe to be reliable. However, we accept no responsibility for its accuracy and encourage verification of all information prior to making financial decisions.
Confidential Offering Memorandum
PEORIA STREET PLAZAStrip Center + Two Pad Sites Available Individually or as a Por tfolio