empire tire · 2018-09-06 · net leased disclaimer empire tire orlando, fl orlando, fl marcus...

ORLANDO,ORLANDO,ORLANDO,ORLANDO, FL FL FL FL

Empire Tire

OFFERING MEMORANDUM

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap 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, PCB's or asbestos, the compliance 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. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.


Empire Tire

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR

MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NON-ENDORSEMENT NOTICE

NET LEASED DISCLAIMER

Empire TireORLANDO,ORLANDO,ORLANDO,ORLANDO, FL FL FL FL

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Section 1 PRICING AND FINANCIAL ANALYSIS

Section 2 PROPERTY DESCRIPTION

Section 3 RECENT SALES

Section 4 RENT COMPARABLES

Section 5 MARKET OVERVIEW

Section 6 DEMOGRAPHIC ANALYSIS

TABLE OF CONTENTS

Empire Tire


PRICING AND FINANCIAL ANALYSIS

Annualized Operating Data

5432 Edgewater

Orlando, FL 32810

Price $525,000

Down Payment 100% / $525,000

Rentable Square Feet 4,485

Price/SF $117.06

CAP Rate 5.39%

Year Built 1955

Lot Size 0.56 acres

Type of Ownership Fee Simple

Location

Rent Increases Annual Rent Monthly Rent

$42,000.00 $3,500.00

Base Rent ($9.36/SF) $42,000

2016 Real Estate Tax Bill $3,848

Insurance ($2.20/SF) $9,854

Net Operating Income $28,298

Total Return 5.39% / $28,298

Tenant Trade Name Empire Tire

Ownership Private

Tenant Private Company

Lease Guarantor Private Guarantee

Lease Type Double Net

Roof and Structure Landlord Responsible

Lease Term N/A

Lease Commencement Date N/A

Rent Commencement Date N/A

Lease Expiration Date N/A

Term Remaining on Lease N/A

Increases N.A

1

Tenant Summary

PRICING AND FINANCIAL ANALYSISEmpire TireORLANDO, FL

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Florida © 2017 Marcus &Millichap. All rights reserved.

Empire Tire has 8 locations in Central Florida

FINANCIAL OVERVIEW


PROPERTY DESCRIPTION

Empire Tire consists of a 3,860 square foot warehouse and a 625 square foot office building on Edgewater Drive in Orlando, Florida. Tenant has a double-net lease with landlord responsible for roof & structure. The warehouse building was constructed in 1955 and office in 1945. Property is situated on 0.56 acre. Empire Tire has eight locations throughout Central Florida.

Empire Tire benefits from 200 linear feet on Edgewater Drive. Edgewater Drive has a traffic count of 31,500 vehicles daily. Subject property is located between main crossroads of John Young Parkway and Lee Road. John Young Parkway and Lee Road have a traffic count of 34,000 vehicles daily each.

Orlando had 66 million tourists in 2015, which represented a new record by more than three million visitors. Orlando offers Walt Disney World Resort, Universal Studios and many more theme park attractions. Walt Disney World Resort houses 27-themed resort hotels, nine non-Disney hotels, four theme parks, two water parks, several golf courses, a camping resort and other entertainment venues. Universal Orlando is the second-largest resort in Greater Orlando after Walt Disney World.

Major City of Orlando employers include the following: Bank of America Corporation, Bright House Networks, CNL Financial Group, Coca-Cola Bottling Company, Darden Restaurants Inc, Florida Hospital, Frito-Lay, HD Supply Inc, Jet Blue, Mears Transportation Group, Red Lobster, SunTrust Banks, Inc., Tupperware Corporation, Universal Orlando Resort and Wells Fargo.

Investment Highlights

■ Property Consists of a 3,860 Square foot Warehouse and a625 Square foot Office

■ Occupied by Empire Tire with Double-Net Lease

■ Situated on 0.56 Acre

■ 200 Linear feet on Edgewater Drive

■ Edgewater Drive has a Traffic Count of 31,500 VehiclesDaily

■ Between Main Roads of John Young Parkway and Lee Road

3

PROPERTY DESCRIPTIONEmpire TireORLANDO, FL


INVESTMENT OVERVIEW

4


The Offering

Property Empire Tire

Property Address 5432 Edgewater

Orlando, FL 32810

Assessor's Parcel Number 04-22-29-0188-00-170

Zoning C-2

Site Description

Year Built 1955

Rentable Square Feet 4,485

Lot Size 0.56 acres

Type of Ownership Fee Simple


PROPERTY SUMMARY

5



PROPERTY PHOTOS

Local Map Regional Map

6



AREA MAPS

7



AERIAL PHOTO


RECENT SALES

1)2)3)4)5)

Empire TireExpress Oil Change & Service CenterFortiline WaterworksZiebart & Tire BarnMidasMeineke

9

RECENT SALESEmpire TireORLANDO, FL


RECENT SALES MAP

0.00

20.00

40.00

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100.00

120.00

140.00

160.00

Subject ExpressOil

Change&

ServiceCenter

FortilineWaterworks

Ziebart&TireBarn

Midas Meineke

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Subject ExpressOil

Change&

ServiceCenter

FortilineWaterworks

Ziebart&TireBarn

Midas Meineke

Average Price per Square Foot

10

Average Cap Rate



CAP RATE AND PRICE PER SQUARE FOOT

1

2

Subject Property

Empire Tire

5432 Edgewater

Orlando, FL 32810

Express Oil Change & Service Center

7809 Gadsden Highway

Trussville, AL 35173

Fortiline Waterworks2291 West Airport Boulevard

Sanford, FL 32771

Comments20-year NNN lease with four, five-year renewal options. 10 percent rental increases every five years.

Comments5.5 years remaining on original lease. One, five-year option to renew.

Close of Escrow: 04/13/2016 Sales Price: $2,185,000

Rentable SF: 33,364 Down Payment: 100%

Year Built: 2000 CAP Rate: 8.92%

Price/SF: $65.00




Price/SF: $119.00

Rentable Square Feet: 4,485 Sales Price: $525,000

Year Built: 1955 Down Payment: $525,000

CAP Rate: 5.39%

Price/SF: $117.06

11



RECENT SALES

3

4

5

Ziebart & Tire Barn

4404 Georgetown Road

Indianapolis, IN 46254

Midas

1805 Ogden Avenue

Lisle, IL 60532

Meineke

6936 Albemarle Road

Charlotte, NC 28227

Comments16 years remaining on Absolute Net Lease.

Comments

A franchise-based international automotive repair.

Comments

Two-tenant retail investment. Tire Barn Corporate & Ziebart Franchisee operator.




Price/SF: $120.00

Close of Escrow: 08/19/2016 Sales Price: $525,000



Price/SF: $166.00

12



Close of Escrow: 06/23/2016 Sales Price: $660,000



Price/SF: $132.00

RECENT SALES


RENT COMPARABLES

1)2)3)4)5)6)

Empire Tire5421 Edgewater Drive4857 Edgewater Drive1782 Lee RoadIndustrial Lease CompIndustrial Lease CompIndustrial Lease Comp

14

RENT COMPARABLESEmpire TireORLANDO, FL


RENT COMPARABLES MAP

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Subject 5421Edgewater

Drive

4857Edgewater

Drive

1782LeeRoad

IndustrialLeaseComp

IndustrialLeaseComp

IndustrialLeaseComp

15



AVERAGE RENT PER SQUARE FOOT

2

1

Subject Property

5421 Edgewater Drive

Orlando, FL 32810

4857 Edgewater Drive

Orlando, FL 32804

Empire Tire

5432 Edgewater

Orlando, FL 32810

Date Surveyed:

Year Built: 1955

Rentable Square Feet: 4,485

Rent/SF: $9.36

Lease Type: Double Net

Date Surveyed: 02/08/2016

Year Built: 1966


Rent/SF: $11.57

Lease Type: Triple Net (NNN)

16


Year Built: 1987


Rent/SF: $12.36




RENT COMPARABLES

4

3

5

1782 Lee Road

Orlando, FL 32810

Industrial Lease Comp

5612 Carder Road

Orlando, FL 32810

Industrial Lease Comp

555 S. Lake Destiny Road

Orlando, FL 32810


Year Built:


Rent/SF: $16.50



Year Built: 1983


Rent/SF: $7.20

Lease Type: Gross Lease


Year Built: 1987


Rent/SF: $15.00


17



RENT COMPARABLES

6 Industrial Lease Comp

440 W. Kennedy Blvd

Orlando, FL 32810


Year Built/Renovated: 1985/2000


Rent/SF: $12.00


18



RENT COMPARABLES


MARKET OVERVIEW

20

MARKET OVERVIEWEmpire TireORLANDO, FL

Orlando-Kissimmee Metro


Geography

The Orlando metro encompasses four counties over

4,012 square miles near the center of Florida. There are

numerous lakes scattered across the region, and the

topography is generally flat with few impediments to

development. Citrus, melons and strawberries are some

of the agricultural products grown in the metro.

Market Highlights

Economic diversity

■ While Orlando’s economy has a strong tourism

component, distribution, high-tech, defense

contracting and healthcare also are prevalent.

Pro-business environment

■ Florida has low state and local taxes and no state

personal income tax.

Strong employment and population growth

■ Orlando’s population is expected to increase by 1.9

percent annually over the next five years as job gains

outpace the national average.

ORLANDO

21

MARKET OVERVIEW

Largest Cities in Metro by Population

Empire TireORLANDO, FL

* ForecastSources: Marcus & Millichap Research Services, U.S. CensusBureau, Experian

Metro

The Orlando metro comprises Osceola, Orange,

Seminole and Lake counties. The metro is one of the

largest in Florida with a population of 2.3 million and is

expected to grow 1.9 percent annually for the next five

years. Orlando is the area’s largest city, containing

259,200 residents.

Infrastructure

The region sits at the crossroads of Florida’s Turnpike

and Interstate 4 and an extensive system of toll roads

interconnect the metro, which allows access from North

to South and East to West. Public transit is provided by

the Central Florida Regional Transportation Authority,

also known as LYNX, which offers bus routes

throughout Orange, Seminole and Osceola counties.

SunRail is the region’s new commuter rail. The first 32

miles of the line run from DeBary in Volusia County to

Sand Lake Road in Orange County; service began in

2014. The second phase will connect Sand Lake Road

through Kissimmee to Poinciana in 2016. Air

transportation service in the region is provided by

Orlando International Airport, Orlando Sanford

International Airport, Orlando Executive Airport and

four smaller airports. Toll roads interconnect the metro,

which allows access to the state from North to South

and East to West. A rail system helps move freight

across the state and the nation. By water, Port Canaveral

and the Atlantic Ocean are within a 45-minute drive to

the east, and the Port of Tampa on the Gulf of Mexico

is one hour to the west.


Orlando 259,200

Alafaya 86,200

Pine Hills 64,600

Kissimmee 65,000

Sanford 55,100

Apopka 44,300

Airports

■ Orlando International, Orlando Sanford

International, Orlando Executive

■ Four smaller airports

Major Roadways

■ I-4, Florida's Turnpike

■ State Routes 408, 414, 417, 429 and 528

Rail

■ Freight - CSX, Florida Central

■ Passenger and Commuter- Amtrak, SunRail

The Orlando Metro is:

■ 85 miles from Tampa

■ 230 miles from Miami

■ 430 miles from Atlanta

■ 1,100 miles from New York City

ORLANDO

22


* ForecastSources: Marcus & Millichap Research Services, Bureau ofEconomic Analysis, Moody's Analytics, U.S. Census Bureau,Visit Orlando

Economy

Orlando is a top vacation destination and is home to

many theme parks and tourist attractions. It has also

become a popular site for business meetings, with one of

the nation’s largest convention centers. Millions of

visitors travel to Orlando each year.

Key industries in the region include aerospace and

defense systems, modeling, simulation and training,

digital media, and biotechnology. Orlando is quickly

transforming into a center for digital media, fueled by

an expanding number of software, simulation and

entertainment companies. Today, hundreds of digital

media companies are located in the metro.

The local life sciences, biotech and medical technology

industries also are strengthening. Lake Nona Medical

City is a 650-acre health and life sciences park where

medical care, research and education are the primary

focus of businesses located in the park.

University of Central Florida (UCF) offers top-ranked

programs for engineering and computer sciences, and its

Technology Incubator helps emerging technology

companies, further enhancing the climate for high-tech

growth. Adjacent to UCF are Lake Nona Medical City,

the Central Florida Research Park and the Quadrangle

Office Park, the latter of which is recognized as one of

the top research parks in the world.


ORLANDO

23


Labor

The Orlando metro has a skilled labor force of more than 1.1 million people. Over the next five years, the metro

will boast rapidly expanding employment gains: 2.3 percent each year, compared with the U.S. average growth of

1.3 percent annually. Except for the manufacturing sector, all employment segments will record gains during this

period.

The leisure and hospitality sector provides the largest portion of jobs in the metro at 21 percent, or around

224,000 positions. Through 2019, this will be the fastest-growing employment sector in Orlando. It will register

annual gains of 4.3 percent as improving economic conditions in many parts of the nation and world bring

additional tourists to the metro, boosting hotel occupancy. New hospitals are also elevating Orlando's stature as a

medical tourism destination.

Although tourism is a major component, the local economy is diverse. Other important segments are trade,

transportation and utilities, which accounts for 19 percent of total employment; professional and business services,

which maintains 17 percent; and education and health services employers, which provide 12 percent of total jobs.


* ForecastSources: Marcus & Millichap Research Services, Moody's Analytics, BLS

ORLANDO

24


Major Private Sector Employers

Employers

For more than 30 years, Orlando has been identified

with Disney World. In addition to six Disney theme

parks, the area contains other attractions such as

SeaWorld and Universal Orlando. Many of the area’s

major employers are tourism related.

Orlando is also one of the fastest-growing high-tech

centers in the country, led by efforts at the University of

Central Florida. The Florida Advanced Manufacturing

Research Center is slated to break ground this year in

Osceola County and is expected to generate 20,000 jobs

within 10 years. The region is also home to a large

concentration of laser and optics manufacturers.

Companies produce everything from tattoo-removal

lasers to laser-guided systems that maneuver fighter

planes.

The local manufacturing industry includes Lockheed

Martin Missiles and Fire Control, Siemens AG, and

Harris. The area is also home to the National Center of

Simulation, internationally renowned for its research in

laser and optics, as well as for its unique

microelectronics technology training programs.

The region is an ideal place to film television shows and

motion pictures. State-of-the-art soundstages, inimitable

venues, year-round filming capabilities, a highly skilled

local crew base and supportive communities have all

helped the industry grow into a $845 million annual

market. Creative local talent is also helping to grow a

digital media sector.

* ForecastSources: Marcus & Millichap Research Services, BLS, Moody'sAnalytics, Experian


ORLANDO

Walt Disney World Co.

Florida Hospital

Publix Super Markets Inc.

Universal Orlando

Orlando Health

Busch Entertainment Corp.

Lockheed Martin Corp.

Marriott International

Darden Restaurants Inc.

Starwood Hotels & Resorts Worldwide Inc.

25


Demographics

Expanding employment opportunities will draw a

steady stream of workers into the metro, pushing

population growth to an average of 1.9 percent annually

through the next five years. Since 2000, the local

population grew by roughly 39 percent to 2.3 million

residents.

Many of the new residents are young individuals and

families seeking work. The influx of these workers keeps

the median age of Orlando’s citizens at 36.5 years old,

slightly below the U.S. median age of 37.4 years. Also,

more than half of the people in the metro are in their

working years.

Much of the region’s population growth in recent years

occurred in the areas south of Orlando and west of

Kissimmee, spurred by the completion of SR 417 and

429, which improved access to Interstate 4.

The median household income, at $49,200 annually,

will increase an average of 3.4 percent per year through

2019. That said, the prevalence of lower-paying tourism

jobs will keep the median household income below the

national rate going forward and will hinder many

residents from purchasing a home. Homeownership in

the metro stands at 62 percent, with the median home

price resting around $194,000.

* ForecastSources: Marcus & Millichap Research Services, Moody'sAnalytics, U.S. Census Bureau, Experian, AGS


ORLANDO

26


The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.

Quality Of Life

Orlando provides its residents with a remarkable quality

of life, highlighted by a warm, sunny climate;

professional sporting opportunities; outdoor recreational

activities; cultural venues; world-famous attractions; and

ocean beaches nearby. The region offers outstanding

healthcare facilities and exceptional community services

such as Orlando Health and Florida Hospital. In

addition, Florida residents are not required to pay a

personal state income tax.

Orlando features dozens of cultural opportunities,

including the new Dr. Phillips Center for the

Performing Arts, Civic Theatre of Central Florida, the

Orlando Opera Company, the Orlando Ballet

Company and the Bach Festival Society. Also, the

Shakespeare Festival is held downtown every year. For

art lovers, there are a number of galleries, as well as the

Morse Museum and the Orlando Museum of Art.

Amway Center is the new arena for the Orlando Magic.

The facility was built in an area in downtown Orlando

currently undergoing redevelopment. Nearby, a stadium

for the Orlando City Soccer Club is underway with

completion due in 2016. Other sports venues are at the

many local universities. The Orlando region provides

numerous higher-education opportunities. The largest

institutions are the University of Central Florida and

Valencia Community College, each enrolling tens of

thousands of students.* ForecastSources: Marcus & Millichap Research Services, Moody'sAnalytics, National Association of Realtors®, U.S. CensusBureau


ORLANDO


DEMOGRAPHIC ANALYSIS

1 Mile 3 Miles 5 Miles

2000 Population 8,367 79,379 238,155

2010 Population 8,012 79,735 239,913

2014 Population 8,658 85,426 254,770

2019 Population 8,712 87,574 260,986

2000 Households 3,199 32,031 93,192

2010 Households 3,132 32,805 95,608

2014 Households 3,395 35,249 101,750

2019 Households 3,445 36,402 104,837

2014 Average Household Size 2.41 2.42 2.45

2014 Daytime Population 6,469 59,741 176,472

2000 Owner Occupied Housing Units 44.96% 52.42% 55.50%

2000 Renter Occupied Housing Units 47.12% 40.54% 38.44%

2000 Vacant 7.92% 7.04% 6.06%



2014 Vacant 9.81% 10.36% 9.36%



2019 Vacant 10.12% 10.73% 9.80%

$ 0 - $14,999 23.2% 14.3% 14.8%

$ 15,000 - $24,999 16.1% 14.0% 13.0%

$ 25,000 - $34,999 15.6% 15.0% 13.6%

$ 35,000 - $49,999 15.9% 17.5% 16.1%

$ 50,000 - $74,999 14.3% 16.5% 17.3%

$ 75,000 - $99,999 6.4% 9.1% 9.5%

$100,000 - $124,999 3.6% 5.6% 6.2%

$125,000 - $149,999 2.4% 3.1% 3.2%

$150,000 - $199,999 1.3% 2.6% 2.7%

$200,000 - $249,999 0.4% 0.9% 1.3%

$250,000 + 0.7% 1.6% 2.4%

2014 Median Household Income $31,481 $40,559 $42,311

2014 Per Capita Income $17,819 $24,526 $26,357

2014 Average Household Income $44,665 $59,015 $65,256

Demographic data © 2012 by Experian.

28

DEMOGRAPHIC ANALYSISEmpire TireORLANDO, FL


DEMOGRAPHIC REPORT

Geography: 5 miles

Population

In 2014, the population in your selected geography is 254,769. The population has changed by 6.97% since 2000. It is estimatedthat the population in your area will be 260,986 five years from now, which represents a change of 2.43% from the current year. Thecurrent population is 48.17% male and 51.82% female. The median age of the population in your area is 36.6, compare this to theEntire US average which is 37.3. The population density in your area is 3,247.01 people per square mile.

Households

There are currently 101,750 households in your selected geography. The number of households has changed by 9.18% since 2000.It is estimated that the number of households in your area will be 104,837 five years from now, which represents a change of 3.03%from the current year. The average household size in your area is 2.45 persons.

Income

In 2014, the median household income for your selected geography is $42,310, compare this to the Entire US average which iscurrently $51,972. The median household income for your area has changed by 5.03% since 2000. It is estimated that the medianhousehold income in your area will be $48,435 five years from now, which represents a change of 14.47% from the current year.

The current year per capita income in your area is $26,356, compare this to the Entire US average, which is $28,599. The currentyear average household income in your area is $65,256, compare this to the Entire US average which is $74,533.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 55.41% White, 33.78% Black, 0.05% Native American and 3.06%Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 15.92% of the current yearpopulation in your selected area. Compare this to the Entire US average of 17.13%.

Housing

In 2000, there were 55,054 owner occupied housing units in your area and there were 38,137 renter occupied housing units in yourarea. The median rent at the time was $585.

Employment

In 2014, there are 176,471 employees in your selected area, this is also known as the daytime population. The 2000 Census revealedthat 63.62% of employees are employed in white-collar occupations in this geography, and 36.45% are employed in blue-collaroccupations. In 2014, unemployment in this area is 7.07%. In 2000, the average time traveled to work was 26.1 minutes.


29



SUMMARY REPORT

Number of people living in a given area per square mile.


30



POPULATION DENSITY

The number of people employed in a given area per square mile.


31



EMPLOYMENT DENSITY

Average income of all the people 15 years and older occupying a single housing unit.


32



AVERAGE HOUSEHOLD INCOME


OFFERING MEMORANDUM

Empire Tire

Offices Throughout the U.S. and Canadawww.MarcusMillichap.com

empire tire · 2018-09-06 · net leased disclaimer empire tire orlando, fl orlando, fl marcus...

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