BOWIE (WASHINGTON D.C.), MARYLANDOFFERING MEMORANDUM
In Association with Jennifer D. Stein of JDS Real Estate Services, Inc. | O: 844.585.7610 | C: 844.446.5366 | A Licensed Maryland Broker #653436
BEAUTY
SINGLE-TENANT
45,000 CPDCRAIN HIGHWAY
108,000 CPD
SUBJECTPROPERTY
OFFERING MEMORANDUMBOWIE (WASHINGTON D.C.), MARYLAND
EXCLUSIVELY LISTED BY:
Kevin FrymanExecutive Vice President [email protected]
In Association with Jennifer D. Stein of JDS Real Estate Services, Inc. | O: 844.585.7610 | C: 844.446.5366 | A Licensed Maryland Broker #653436
TABLE OF CONTENTS:Offering Summary 3
Investment Highlights 4
Location Highlights 5
Lease Summary 7
Aerial Site Plan/Parcel Map 8
Aerial Overviews 9
Regional Map 11
Area Overview 12
Demographics 14
BEAUTY
SINGLE-TENANT
3
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
NOT A PART
LOCATION
Single-Tenant Super Beauty
4450 Mitchellville Road
Bowie (Washington D.C.), MD 20716
OFFERING SUMMARY
Price: $2,380,000
Current Net Operating Income (NOI): $190,347
Capitalization Rate: 8.00%
Price per Square Foot: $228
Net Rentable Area: 10,430
Year Built: 1996; R-2016
FINANCING SUMMARY
All Cash or Cash to New Financing
(Contact Hanley Investment Group for Further Details)
OFFERING SUMMARY
4
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
BEAUTY
INVESTMENT HIGHLIGHTS
yy Single-Tenant Super Beauty:
yο In 2016, Super Beauty signed a new 10-year lease with 10% increases every 5 years
yο Two 5-year options to extend at 10% increases
yο Super Beauty has been in business for over 20 years
yο Super Beauty operates 6 locations in Maryland and Virginia
yο Super Beauty’s lease is personally guaranteed with a financially strong operator
yy Dominant Power Center Retail Location:
yο Co-anchored by Target, Big Lots!, Havertys Furniture, PetSmart, Pier 1 Imports, and Staples
yο Easily accessible from U.S. Route 50, the main route between Washington D.C. and Annapolis
yο High traffic signalized intersection with 45,000 cars per day along Maryland Route 3 (Crain Highway)
yο Nearby “Main Street” style outdoor mall Bowie Town Center is anchored by Barnes & Noble, Best Buy, LA Fitness, Macy’s, rue 21, Safeway, and Sears
yο Located directly across the street from Chevrolet, Kia Motors, and Toyota auto dealerships
yο Other nearby major retailers include BJ’s Wholesale Club, Giant Grocery, Home Depot, Lowe's, Michaels, and Walmart Supercenter
5
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
LOCATION HIGHLIGHTS
yy Retail Condo Ownership; Staples Manages the Common Area; Minimal Landlord Responsibilities
yy Affluent Demographics with $141,000 Average Household Income within 5 Miles; 13% Population Growth Between 2010-2016
yy Bowie is Located Less than 20 Miles from Downtown Washington D.C.
yο 5th largest city in Maryland with population of 65,000
yο Six Flags America/Hurricane Harbor Water Park is in Bowie, featuring more than 100 rides, games, shows, and attractions
yο Bowie State University has more than 6,000 students and academic staff
yο Washington D.C. is the largest metropolitan area in the southeast with a total population of more than 6.1 million residents
yο Washington D.C. is 2nd the most affluent metropolitan area in the United States; $130,000 average household income
yο Washington D.C. is the most educated metropolitan area in the United States
SURROUNDING TENANTS | NOT A PART
7
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
LEASE SUMMARY
LEASE SUMMARY
Tenant: Super Beauty
Lease Commencement: August 6, 2016
Lease Expiration: August 31, 2026
Lease Type: Retail Condominium
Annual Rent: $190,347
Net Rentable Area: 10,430
Annual/Monthly Rent Per Square Foot: $18.25 / $1.52
Rental Increases: 10% Every 5 Years
Renewal Options: Two 5-year @ 10% Increases
Property Taxes: Tenant Responsibility
Insurance: Tenant Responsibility
Common Area Maintenance (1): Tenant Responsibility
Repairs & Maintenance: Tenant Responsibility
Roof & Structure: Landlord Responsibility
NOTES
(1) Common area maintenance managed by Staples as tenant in common.
8
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
AERIAL OVERVIEW
N
45,000 CPD
MITCHELLVILLE ROAD
108,000 CPD
CRAIN HIGHWAY
SIGN
SIGN
RETAIL CONDOMINIUM OWNERSHIP INTEREST
yy Minimal Landlord Responsibility; Staples Manages Common Area
yy Ample Parking
SUBJECTPROPERTY
9
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
AERIAL OVERVIEW
N
AFFLUENT DEMOGRAPHICS
1-Mile 3-Mile 5-MileHousehold Income: $117,167 $128,323 $140,621
45,000 CPD
MITCHELLVILLE ROAD
CRAIN HIGHWAY
108,000 CPD
SUBJECTPROPERTY
10
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
AERIAL OVERVIEW
N
BOWIE TOWN CENTER MALL
SUBJECTPROPERTY
COLLINGTON PLAZA
MITCHELLVILLE ROAD
45,000 CPD
CRAIN HIGHWAY
108,000 CPD
FROM WASHINGTON D.C.20 MILES
11
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
REGIONAL MAP
SUBJECTPROPERTY
N
216,000 CPD
20 MILES
12
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
Washington, D.C. Metropolitan Areayy Includes the federal district and parts of the states of Maryland and Virginia, along with a
small portion of West Virginia
yy Largest metropolitan area in the southeast and 6th largest metropolitan area in the country
yο 6.1+ million total population
yο 9% growth since 2010
yο 5% expected population growth over the next 5 years
yο 6.5+ million daytime population
yy World-renowned international tourist destination
yο 20 million domestic visitors and 2 million international visitors travel to Washington, D.C. yearly
yο 8th most visited destination in the U.S. for international travelers
yy 2nd most affluent metropolitan area in the United States
yο Per capita income exceeds that of any other major metropolitan area
yο $130,000 average annual household income is 2nd only to the San Jose, California area
yο 25% income growth since 2010, compared to 20% nationally
yy Most educated metropolitan area in the United States
yο Bachelor degrees held by nearly half of the total population
yο More than 20% hold advanced, graduate degrees
yο Ranked #2 on WalletHub’s 2016 list of the country’s “Most Educated Cities"
LIBRARY OF CONGRESS
THE WHITE HOUSE
U.S. CAPITOL BUILDING
AREA OVERVIEW
13
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
Bowie, Marylandyy Located halfway between Washington, D.C. and Baltimore, Maryland
yy 5th largest city in the state of Maryland
yο 65,000 total population
yο 5% population growth since 2010
yο 4% expected population growth over the next 5 years
yy Situated in the heart of one of the wealthiest areas in the United States
yο $140,000+ average annual household income
yο 7% income growth in the last 5 years
yy Bowie Marketplace
yο Rehabilitation of a former Safeway-anchored shopping center in the primary trade area along Route 450
y� 130,000 SF retail shopping center
yο Demolition on the site commenced in the summer of 2015
yο Construction began in January of 2016
yο Grand opening occurred in October of 2016
yο Anchored by high-end grocer Harris-Teeter
y� Other shops include Great Clips, Chipotle Mexican Grill, and Petco
BOWIE STATE UNIVERSITY
CITY HALL
SIX FLAGS AMERICA
AREA OVERVIEW
14
SINGLE-TENANT SUPER BEAUTY
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
DEMOGRAPHICS
1-Mile 3-Mile 5-MilePopulation:
2021 Projection 8,271 46,900 104,0392016 Estimate 8,390 45,495 99,3902010 Census 7,844 43,089 94,3042000 Census 7,630 40,251 82,851Growth 2000-2010 2.80% 7.05% 13.82%Growth 2010-2016 6.96% 5.58% 5.39%
Households:2021 Projection 3,656 17,450 38,1122016 Estimate 3,664 16,729 35,8232010 Census 3,404 15,801 34,0272000 Census 3,156 14,678 29,480Growth 2000-2010 7.86% 7.65% 15.42%Growth 2010-2016 7.64% 5.87% 5.28%
2016 Population by Race:White Alone 2,842 18,971 42,012 Black or African American Alone 4,670 21,446 47,220 American Indian and Alaska Native Alone 29 146 258 Asian Alone 364 2,015 4,413 Native Hawaiian and Other Pacific Islander Alone 1 36 50 Some Other Race Alone 171 1,133 1,958 Two or More Races 293 1,655 3,301
2016 Est. Population by Ethnicity (Hispanic or Latino) Hispanic or Latino 486 3,067 5,632 Not Hispanic or Latino 7,904 42,428 93,758
2016 Avg Household Income $117,167 $128,323 $140,621
The information contained herein does not purport to provide a complete or fully 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 buyers may need or desire. All financial projections are based on assumptions relating to the general economy, competition, and other factors beyond the control of the Owner and Broker and, therefore, are subject to material variation. This Marketing Package does not constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of the information herein. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective buyers.
Neither Owner nor Broker nor any of their respective officers, Agents or principals has made or will make any representations or warranties, express or implied, as to the accuracy or completeness of this Marketing Package or any of its contents, and no legal commitment or obligation shall arise by reason of the Marketing Package or its contents. Analysis and verification of the information contained in the Marketing Package is solely the responsibility of the prospective buyer, with the Property to be sold on an as is, where-is basis without any representations as to the physical, financial or environmental condition of the Property.
Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice. Owner has no legal commitment or obligations to any entity reviewing this Marketing Package or making an offer to purchase the Property unless and until such sale of the Property is approved by Owner in its sole discretion, a written agreement for purchase of the Property has been fully delivered, and approved by Owner, its legal counsel and any conditions to the Owner’s obligations thereunder have been satisfied or waived.
This Marketing Package and its contents, except such information which is a matter of public record or is provided in sources available to the public (such contents as so limited herein called the Contents), are of a confidential nature. By accepting this Marketing Package, you unconditionally agree that you will hold and treat the Marketing Package and the Contents in the strictest confidence, that you will not photocopy or duplicate the Marketing Package or any part thereof, that you will not disclose the Marketing Package or any of the Contents to any other entity (except in the case of a principal, who shall be permitted to disclose to your employees, contractors, investors and outside advisors retained by you, or to third-party institutional lenders for financing sought by you, if necessary, in your opinion, to assist in your determination of whether or not to make a proposal) without the prior authorization of the Owner or Broker, and that you will not use the Marketing Package or any of the Contents in any fashion or manner detrimental to the interest of the Owner or Broker.
EXCLUSIVELY LISTED BY:
Kevin FrymanExecutive Vice President
CONFIDENTIALITY AGREEMENTBOWIE (WASHINGTON D.C.), MARYLAND
In Association with Jennifer D. Stein of JDS Real Estate Services, Inc. | A Licensed Alabama Broker #103778
BEAUTY
SINGLE-TENANT
