Post on 15-Aug-2021
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BROOKSHIRETOWNHOME PORTFOLIO OFFERING
830 SOUTH 550 EAST CLEARFIELD, UTAH 84015
CHRIS FALK, CCIM, SIORPrincipal, Executive Vice Presidentcfalk@ngacres.com801.416.1024
BRAXTON WILLIESenior Associatebwillie@ngacres.com801.416.1050
EXCLUSIVELYMARKETED BY:
BROOKSHIRE 2
TABLE OF CONTENTS
BROOKSHIRE 3
EXECUTIVE SUMMARY
BROOKSHIRE 4
EXECUTIVE SUMMARYNewmark Grubb ACRES is pleased to present the Brookshire Townhome portfolio. Built in 2003, Brookshire totals 24 units, of which 22 are being offered for sale. The project has unique and efficient floorplan and each unit is connected to an enclosed garage. Brookshire boasts vacancy factor of less than 1% over the last 7 years and is currently 100% occupied
Centrally located in Clearfield (Davis County), Brookshire has immediate access to the Clearfield FrontRunner Station (mass transit- high speed rail), Highway 193 (largest east-west corridor in Davis County), I-15, and Main/State Street. The portfolio is within walking distance of all public schools, shopping, and city recreation and aquatic centers.
In comparison to apartments, townhomes typically offer more SF for the occupant and usually a secured, covered garage per unit. Potentially as a result, the sellers have realized a lower effective vacany rate in their townhomes in camparison to all other residential rental products. In addition, each townhome herein has its own tax ID number so future ownership may sell off individual units when and if desired as opposed to an apartment complex, duplex, etc. which typically has to be sold in its entirety.
Upon request, detailed analyses can be provided regarding rents, expenses, demographics, etc.
*72 additional contiguous units are also available for purchase, but contingent upon the sale of Hamblin Park and Kensington Place I. Please contact broker for more information.
PROFORMAT-12 COMBINED RENTAL INCOME $247,763TOTAL COMBINED EXPENSES: $56,943NET OPERATING INCOME $190,820CAP RATE 5%PURCHASE PRICE $3,816,400PRICE PER UNIT: $173,473PRICE PSF: $153
BROOKSHIRE 5
UNIT OVERVIEW OFFERING SUMMARY
BROOKSHIRE 6
OFFERING SUMMARY
BROOKSHIRE
ADDRESS830 SOUTH 550 EAST
CLEARFIELD, UT 84015
UNITS 22
TOTAL SF 24,928 SF
AVG UNIT SIZE 1,133 SF
YEAR BUILT 2003
ACRES .76 ACRES
PARKING2 PER UNIT: 1 COVERED (ATTACHED GARAGE)*
1 UNCOVERED
OCCUPANCY 100%
VACANCY (CURRENT) 0.0%
VACANCY (SINCE 2010) 0.75%
OPTION SIZE (SF) NUM TOTAL SFA 1,232 10 UNITS 12,320
B 1,180 8 UNITS 9,440
C 792 4 UNITS 3,168
TOTAL 22 UNITS 24,928
UNIT MIX
*4 units do not have an attached garage, but do have 1 covered parking stall
BROOKSHIRE 7
PROPERTY SPECIFICATIONS
BROOKSHIRE 8
FLOOR PLANS
BROOKSHIRE UNIT A1,232 SF – 3 BED, 1.5 BATH
UPPER LEVEL UPPER LEVEL
LOWER LEVEL LOWER LEVEL
BROOKSHIRE 9
FLOOR PLANS
UPPER LEVEL UPPER LEVEL
LOWER LEVEL LOWER LEVEL
BROOKSHIRE UNIT B1,180 SF – 3 BED, 1.5 BATH
BROOKSHIRE 10
FLOOR PLANS
BROOKSHIRE UNIT C792 SF – 2 BED, 1 BATH
BROOKSHIRE 11
55
0 E
as
t
49
0 E
as
t
830 South
800 South
Imagery ©2018 , State of Utah
BROOKSHIRE TOWNHOMES
SOLD
SOLD
A A
A
A
B
B
B
B
B
C
C
C
C
B
B
B
A
A A A
A
A
BROOKSHIRE 12
Brookshire
Kensington Place
Hamblin Park
Kensington Place II
55
0 E
as
t
1000 South
49
0 E
as
t
800 South
950 South
830 South
Sta
te S
treet
Imagery ©2018 , DigitalGlobe, State of Utah, U.S. Geological Survey
ALL TOWNHOMESSOLD
SOLD
72 additional contiguous units are also available for purchase, but
contingent upon the sale of Hamblin Park and Kensington Place I. Please contact broker for more information.
BROOKSHIRE 13
G r e a t
S a l t L a k e
o
Ho o pe r
Og de n
La y ton
R oy
Bo u nt i fu l
Ka y sv i l l e
Sy ra c us e
Pl a inC i ty
We s tHa v e n
Fa r min g ton
C le a rf ie ld
We s tPo in t
No rthOg de n
Fa r rWe s t
No rthSa l t L a ke
Cen te rv i l le
Pl e a sa n tV ie w
R ive r da le
Ma r r iot t -Sla te r vi l le
Wo odsCros s
Sou thOg de n
Ha rr is vi l le
Fr ui tHe ig hts
Hu nts v i l l e
C l in ton
Sou thWe b e r
Su ns e t
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U in ta h
Wa s h ing tonTe rra c e
0 1.5 3Miles
N
The above information while not guaranteed has been secured from sources deemed reliable l 9/25/2018 l \ \MAPHICS\Maphics\Market ing\NG ACRES Projects\Industrial Division Projects\Opportunity Zones\Maps\opportunity-zones_davisco-weberco_11x17.mxd
www.ngacres.com
376 East 400 South, Suite 120 l Salt Lake City, Utah 84111Office 801.578.5555 l Fax 801.578.5500
Map Data and/or Imagery Courtesy of NAIP (2016)
Opportunity ZonesWeber & Davis Counties, Utah
As part of the Tax Cuts and Jobs Act of 2017, Opportunity Zones were created as a tool to incentivize economic development and job creation in distressed communities through tax benefits to investors. These benefits can include tax deferral, tax abatement, and/or tax-free appreciation. Qualified Opportuni-ty Funds, organized as corporations or part-nerships, are created to allow investors to re-invest unrealized capital gains in eligible property located within an Opportunity Zone. The most upside can be gained by patient in-vestors who hold their investment for 10 years and more.
DAVIS AND WEBER COUNTIES
OPPORTUNITY ZONES
BROOKSHIRE 14
Hill Air Force Base
§̈̈15
State
Street
193
Imagery ©2018 , DigitalGlobe, State of Utah, U.S. Geological Survey, USDA Farm Service Agency
North DavisJr High
ClearfieldHigh School
WALKABLE AMENITIES
South Clearfield
Elementary
5 min
basketball, gym, fitness classes
5 min
12 min
12 min
9 min
public ball fieldsplayground
hosts regional fireworks, and 4th of July celebration
Fisher Park
Clearfield Stationmass transit via bus
high-speed rail
15 min
5 min
pools, slides, splash pads5 min
Groceries, banking, shopping
BROOKSHIRE 15
Hill Air Force Base
§̈̈15
Sta
te S
t reet
Antelope Drive1700 South
22
00
We
st
193
Imagery ©2018 , DigitalGlobe, State of Utah, U.S. Geological Survey, USDA Farm Service Agency
EXIT #334SR-193
EXIT #332ANTELOPE DRIVE
1000
Eas
t
1200
Wes
t
1500
Eas
t
550
East
201 193 111 75
North DavisJr High
Clearfield City Cemetery
ClearfieldHigh School
Uni
vers
ity P
ark
Blv
d
Clearfield Station
DAVIS CAMPUS
15 80 84215
15 80 84215
COMMUNITY AMENITIES
Brookshire is a supplementary offering to Hamblin Park and
Kensington Place
BROOKSHIRE 16
LOCAL LANDMARKS
ANTELOPE ISLAND is accessible via a 7-mile causeway from Syracuse in Davis County. Access from I-15 is via exit 332.
The Island is managed as a State Park that is open for year-round recreation featuring a marina, beach, campground and hiking trails. The park hosts several annual events including the Great Salt Lake Bird Festival, Buffalo Days & the Hot Air Balloon Stampede.
Antelope Island is known for its stark scenic beauty, especially in the northwest quadrant of the island that is developed with a visitors center, museum, restaurant, the vast waters of the Great Salt Lake reflecting the mountains of the Wasatch range and magnificent sunsets.
The bison herd was introduced to the island in 1893 and thrives there because much of the island is covered by dry, native grassland.
HILL AIR FORCE BASE has played a major role in the United States Air Force war fighting efforts from WWII to the present day.
Hill is a hub of activity for the depot maintenance of numerous aircraft and weapons systems, as well as other military logistics and parts programs.
The base is also home to the 75th Air Base Wing and the flying activities of the 388th and 419th Fighter Wings.
In this decade Hill AFB is still the sixth-largest employer in the state of Utah, and the third-largest one excluding the State Government and Higher Education employers. Hill AFB is the home of the Air Force Materiel Command’s (AFMC) Ogden Air Logistics Complex which is the worldwide manager for a wide range of aircraft, engines, missiles, software, avionics, and accessories components.
FREEPORT CENTER was originally built in 1942 as the Clearfield Naval Supply Depot, which was decommissioned in 1962 and transitioned to the industrial sector with manufacturing and distribution situated in the middle of all the major western U.S. Markets.
Freeport Center is home to more than 70 national and local companies that have a workforce of over 7,000 employees. These companies have found Freeport Center is in the best location to manufacture and distribute products.
BROOKSHIRE 17
§̈̈15
Sta
te S
treet
Imagery ©2018 , DigitalGlobe, State of Utah, U.S. Geological Survey, USDA Farm Service Agency
CENTRAL BUSINESS DISTRICT and LAYTON HILLS MALL is the hub of retail shopping and activity in Layton, Utah. Opened in 1980, the mall encloses 661,000 SF featuring Dick’s Sporting Goods, J.C. Penney and Dillard’s as its anchor stores, and over 100+ other retailers. This area also includes 10+ hotels, numerous national and local restaurants, two move theaters, walkable entertainment and shopping, and is centrally located between the two major I-15 on/off ramps.
LOCAL LANDMARKS
Clearfield Station - Urban Design Plan, Standards & Guidelines Page 11
VISION
Figure 1.1: Clearfield Station Illustrative Master Plan
IntroductIon
0’ 150’ 300’
1000 East
State Street
1200
Wes
t
550
East
Clearfield Station
Business Park
Residential
CLEARFIELD FRONTRUNNER STATION is a 68 Acre transit oriented development envisioned to be a unique mixed-use community with a variety of land uses that take advantage of the adjacent commuter rail line and major employment centers within the area. The development will happen in phases, and will consist of residential areas that are moderate to high density, mixed with local-serving retail and neighborhood services. Commercial uses will be a mix of commercial and light industrial. This project will have a direct walking path leading to Hamblin Park and Kensington Place.
BROOKSHIRE 18
FINANCIAL ANALYSIS
BROOKSHIRE 19
CURRENT OPERATING INCOME & EXPENSES (T-12)
TOTAL EXPENSES BROOKSHIREPROPERTY TAXES $(21,438)
PROPERTY INSURANCE $(1,869)
MANAGEMENT FEE $(3,600)
REPAIRS & MAINTENANCE $(8,214)
COMMON UTILITIES $(702)
LANDSCAPING, SNOW REMOVAL, PEST CONTROL, HOA, OTHER $(21,120
TOTAL EXPENSES: $(56,943)EXPENSES PER UNIT $(2,588)
T-12 INCOME BROOKSHIRERENT $238,230
HOA INCOME $7,032
OTHER INCOME $2,500
T-12 COMBINED INCOME $247,763
NET OPERATING INCOMENET OPERATING INCOME: $190,820
CAPITALIZATION RATE: 5%
PURCHASE PRICE: $3,816,400
PRICE PER UNIT: $173,473
PRICE PSF: $153
BROOKSHIRE 20
BROOKSHIRE was built and is currently owned by the same developer. As a result, a conservative approach regarding occupancy has always been sought and appropriate market-rate increases have never been adjusted for, nor collected. However, as you’ll see in the included data, ownership has set a new rental schedule for 2018 and is obtaining significant market increases while maintaining full occupancy. The tables herein show significant equity increases a buyer could expect to yield based on the proposed rental schedule.
BROOKSHIRE 2018 PROPOSED LEASING SCHEDULE (W/INCREASES)BROOKSHIRE JULY ‘17 - JUNE ‘18 NOI $190,820
CAP RATE 5%
PURCHASE PRICE $3,816,400
NOI VIA 2018 PROPOSED LEASING SCHEDULE (W/INCREASES) $204,140
CAP RATE 5%
PROJECTED INCREASED PURCHASE PRICE $4,082,800
REALIZED INCREASE 7%
BROOKSHIRE 2019 PROPOSED LEASING SCHEDULE (STABILIZED)BROOKSHIRE JULY ‘17 - JUNE ‘18 NOI $190,820
CAP RATE 5%
PURCHASE PRICE $3,816,400NOI VIA 2019 PROPOSED LEASING SCHEDULE (STABILIZED) $208,820
CAP RATE 5%
PROJECTED INCREASED PURCHASE PRICE $4,176,400
REALIZED INCREASE 9.4%
BROOKSHIRE 2019 LEASING SCHEDULE- PROPOSED INCREASE TO $.97 PSFBROOKSHIRE JULY ‘17 - JUNE ‘18 NOI $190,820
CAP RATE 5%
PURCHASE PRICE $3,816,400
NOI VIA 2019 LEASING SCHEDULE- PROPOSED INCREASE TO $.97 PSF $221,035
CAP RATE 5%
PROJECTED INCREASED PURCHASE PRICE $4,420,700
REALIZED INCREASE 16%
THE UPSIDE STORY
*See the corresponding leasing schedules on the following pages
BROOKSHIRE 21
BRS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL INCREASE
1-A $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,440 $640 1-B $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,120 $960 1-C $920 $920 $920 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,570 $510 1-D $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,120 $960 2-B $900 $900 $900 $900 $900 $900 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $11,940 $1,140 2-C $860 $860 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,620 $460 2-D $930 $930 $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $11,800 $640 3-A $910 $910 $910 $910 $910 $910 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $11,760 $840 3-B $930 $930 $930 $930 $930 $930 $930 $930 $930 $1,090 $1,090 $1,090 $11,640 $480 3-C $910 $910 $1,000 $1,000 $1,000 $1,000 $1,000 $1,050 $1,050 $1,050 $1,050 $1,050 $12,070 $430 3-D $880 $880 $880 $880 $880 $880 $880 $880 $880 $1,090 $1,090 $1,090 $11,190 $630 4-A $910 $910 $910 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $12,990 $690 4-B $920 $920 $920 $920 $920 $920 $920 $920 $1,090 $1,090 $1,090 $1,090 $11,720 $680 4-C $900 $900 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,700 $380 5-A $920 $920 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,740 $340 5-B $920 $920 $920 $920 $920 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,230 $850 5-C $960 $960 $960 $960 $960 $960 $960 $960 $960 $960 $1,090 $1,090 $11,780 $260 5-D $930 $930 $930 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $12,600 $480 6-A $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $8,760 $- 6-B $720 $720 $720 $720 $905 $905 $905 $905 $905 $905 $905 $905 $10,120 $740 6-C $720 $720 $720 $720 $720 $720 $830 $830 $830 $830 $830 $830 $9,300 $660 6-D $730 $730 $730 $730 $730 $840 $840 $840 $840 $840 $840 $840 $9,530 $550
TOTAL $19,620 $19,620 $20,300 $20,630 $20,975 $21,255 $22,015 $22,065 $22,395 $22,765 $22,895 $22,895 $257,430 $13,320
THE UPSIDE STORYBROOKSHIRE 2018 PROPOSED LEASING SCHEDULE (W/INCREASES)
BROOKSHIRE 22
THE UPSIDE STORY
0BRS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL ANN. INCREASE 1-A $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $640 1-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $960 1-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $510 1-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $960 2-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,140 2-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $460 2-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,280 3-A $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $12,600 $840 3-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,440 3-C $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $12,600 $530 3-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,890 4-A $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $13,680 $690 4-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,360 4-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $380 5-A $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $340 5-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $850 5-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $1,300 5-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $13,080 $480 6-A $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $730 $8,760 $- 6-B $905 $905 $905 $905 $905 $905 $905 $905 $905 $905 $905 $905 $10,860 $740 6-C $830 $830 $830 $830 $830 $830 $830 $830 $830 $830 $830 $830 $9,960 $660 6-D $840 $840 $840 $840 $840 $840 $840 $840 $840 $840 $840 $840 $10,080 $550
TOTAL $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $22,895 $274,740 $18,000
BROOKSHIRE 2019 PROPOSED LEASING SCHEDULE (STABILIZED)
BROOKSHIRE 23
THE UPSIDE STORYBROOKSHIRE 2019 LEASING SCHEDULE - PROPOSED INCREASE TO $.97 PSF
BRS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL ANN. INCREASE 1-A $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,760 $1,320 1-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,590 $1,470 1-C $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,845 $1,275 1-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,590 $1,470 2-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,590 $1,650 2-C $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,930 $1,310 2-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $13,420 $1,620 3-A $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,350 $1,590 3-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $13,335 $1,695 3-C $1,050 $1,050 $1,050 $1,050 $1,050 $1,050 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,350 $1,280 3-D $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $13,335 $2,145 4-A $1,140 $1,140 $1,140 $1,140 $1,140 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,925 $935 4-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $13,420 $1,700 4-C $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,930 $1,230 5-A $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,930 $1,190 5-B $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,675 $1,445 5-C $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,175 $1,175 $13,250 $1,470 5-D $1,090 $1,090 $1,090 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $1,175 $13,845 $1,245 6-A $730 $730 $730 $730 $730 $730 $915 $915 $915 $915 $915 $915 $9,870 $1,110 6-B $905 $905 $905 $905 $915 $915 $915 $915 $915 $915 $915 $915 $10,940 $820 6-C $830 $830 $830 $830 $830 $830 $915 $915 $915 $915 $915 $915 $10,470 $1,170 6-D $840 $840 $840 $840 $840 $915 $915 $915 $915 $915 $915 $915 $10,605 $1,075
TOTAL $22,895 $22,895 $23,150 $23,320 $23,415 $23,610 $24,385 $24,385 $24,555 $24,725 $24,810 $24,810 $286,955 $30,215
BROOKSHIRE 24
COMPETITIVE RENT SURVEY
BROOKSHIRE 25
3-BEDROOM RENT SURVEY
PROPERTY PROPERTY UNITS AVG SIZE RENT/UNIT RENT/SF
BROOKSHIRE830 SOUTH 550 EAST
22 1,133 $902 $0.80
UNIVERSITY RIDGE HOMES1025 S UNIVERSITY BLVD
16 1530 $1,595 $1.04
FALCON ESTATES850 SOUTH 1000 EAST
4 1300 $1,055 $0.81
PINNACLE MTN VIEW1100 S 2000 E
48 1150 $1,348 $1.17
QUAIL COVE2090 N HILLFIELD RD
65 1019 $1,202 $1.18
FERNWOOD PLACE APTS1150 WEST 825 NORTH
18 1221 $1,151 $0.94
HEATHER ESTATES25 E 1800 S
74 1088 $1,085 $1.00
LAKEVIEW HEIGHTS1755 SOUTH 200 EAST
83 950 $885 $0.93
HIDDEN COVE APTS2075 N MAIN STREET LAYTON
24 1295 $1,129 $0.87
CLEARFIELD STATION1342 E 950 S
42 1306 1524 $1.17
AVERAGE 1,207 SF $1,219 $1.01
BROOKSHIRE 26
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LAYTON
KAYSVILLE
SYRACUSE
CLEARFIELD
WESTPOINT
CL INTON
SOUTHWEBER
SUNSET
UINTAH
Hill Air Force Base
§̈̈84
§̈̈15
West DavisC
orr ido r (Planned)
20
00
We
st
Gen t i le S tree t
10
00
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3-BEDROOM RENT SURVEYFALCON ESTATES850 South 1000 EastClearfield, Utah
Units: 4Avg. SF: 1,300 SFAvg. Rent: $1,055Rent / SF: $0.81
BROOKSHIRE830 South 550 EastClearfield, Utah
Units: 22Avg. SF: 1,133 SFAvg. Rent: $902Rent / SF: $0.80
UNIVERSITY RIDGE11025 S University Park BlvdClearfield, Utah
Units: 16Avg. SF: 1,530 SFAvg. Rent: $1,595Rent / SF: $1.04
PINNACLE MOUNTAIN VIEW1100 S University Park BlvdClearfield, Utah
Units: 48Avg. SF: 1,150 SFAvg. Rent: $1,348Rent / SF: $1.17
FERNWOOD PLACE APTS1150 West 825 NorthLayton, Utah
Units: 18Avg. SF: 1,221 SFAvg. Rent: $1,151Rent / SF: $0.94
HEATHER ESTATES25 E 1800 SClearfield, Utah
Units: 74Avg. SF: 1,088 SFAvg. Rent: $1,085Rent / SF: $1.00
LAKEVIEW HEIGHTS1755 South 200 EastClearfield, Utah
Units: 83Avg. SF: 950 SFAvg. Rent: $885Rent / SF: $0.93
HIDDEN COVE APTS2075 N Main Street Layton, Utah
Units: 24Avg. SF: 1,295 SFAvg. Rent: $1,129Rent / SF: $0.87
CLEARFIELD STATION1342 S 950 EClearfield, Utah
Units: 42Avg. SF: 1,306 SFAvg. Rent: $1,524Rent / SF: $1.17
QUAIL COVE2090 N Hillfield RdLayton, Utah
Units: 65Avg. SF: 1,019 SFAvg. Rent: $1,202Rent / SF: $1.18
BROOKSHIRE 27
COMPARABLE SALES
BROOKSHIRE 28
COMPARABLE SALESPROPERTY ADDRESS UNITS BUILT SALE DATE PRICE cap rate PRICE / UNIT PRICE / SF AVG. SF
BROOKSHIRE830 SOUTH 550 EAST
CLEARFIELD, UT22 2003 N/A $3,816,400 5.0% $173,473 $153.00 1,101
HUNTINGTON APTS2001 SOUTH MAIN STREET
BOUNTIFUL, UT70 2011 10/4/2016 $11,690,000 5.2% $167,000 $150.31 1,111
EAST GATE AT GREYHAWK2925 NORTH CHURCH STREET
LAYTON, UT108 2012 6/15/2017 $17,350,000 6.0% $160,648 $159.00 1,010
VILLAGE ON MAIN STREET1525 NORTH MAIN STREET
BOUNTIFUL, UT192 2008 7/22/2016 $31,950,000 5.53% $166,406 $117.47 1,417
FOX CREEK APARTMENTS1656 NORTH 400 WEST
LAYTON, UT186 1985 3/9/2018 $24,125,000 4.98% $129,704 $157.78 842
624 EAST 5400 SOUTH TOWNHOMESMURRAY, UT
5 2017 3/15/2018 $1,999,000 5.65% $399,800 $255.99 1,582
AVERAGES $199,505 $165.59 1,177.17