for sale: dollar tree // nnn lease -...

For Sale: Dollar Tree // NNN Lease 1722 West Main Street, Kalamazoo MI 49006

ESTHER BERMAN, Senior VP, Investment Sales847.274.9444 [email protected]

MARK JONES, Senior VP, Investment Sales312.335.3229 [email protected]

For Sale$1,810,000

• NNN Lease with 3- 5 year renewal option.• Rent Increases of $0.50/SF in each option period.• Tenant responsible for taxes, insurance and performing their own

CAM, including landscaping, snow removal and parking lot repairs. Landlord responsible for Roof, Structure and Foundation.

• Within 1 Mile of Western Michigan University and Kalamazoo College on signalized corner on heavily tra� cked Main St. with 25,056 ADT.

• Strong Corporately Guaranty- Dollar Tree, a Fortune 500 company operates 5,282 stores nationwide. Dollar Tree will soon operate more than 13,000 stores with acquisition of Family Dollar with annual sales exceeding $18 billion. For more information visit: www.DollarTree.com.

Executive Summary

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

Asking Price: $1,810,000

CAP RATE: 7.0%

Land Area: 1.44 ACBuilding Area: 13,000 SFNOI: $126,750

1722 West Main StreetKalamazoo, Michigan 49006

ESTHER BERMAN Senior VP, Investment Sales 847.274.9444 [email protected]

MARK JONES Senior VP, Investment Sales312.335.3229 [email protected]

Property Photos

7 ©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof and it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.




Tenant Size Lease StartLease

ExpirationMonthly

Rent Annual RentDollar Tree 13,000 12/10/2014 1/31/2025 10,562.50$ 126,750.00$

Option 1 2/1/25-1/31/30 11,104.17$ 133,250.00$ Option 2 2/1/30-1/31/35 11,645.83$ 139,750.00$ Option 3 2/1/35-1/31/40 12,187.50$ 146,250.00$

Real Taxes (2016 Actual) $35,594

Net Operating Income 126,750.00$

Cap RateAsking Price 7.00% 1,810,000.00$

Landlord responsible for Roof Structure & Foundation

1722 West Main, Kalamazoo, MI 49006Rent Roll & Financials

Tenant reponsible for Taxes, Insurance and Property Maintenace including and Parking Lot Repairs.

Rent Roll & Financials






Survey 1722 West Main StreetKalamazoo, Michigan 49006



PLAT OF SURVEY

Site Map


Site Map1722 W Main St, Kalamazoo, Michigan, 49006 Prepared by EsriRings: 1, 2, 3 mile radii Latitude: 42.29426

Longitude: -85.61010

August 07, 2015

©2015 Esri Page 1 of 1




Custom Map

Source: ©2015 Esri.

August 06, 2015


Regional Map





Aerial Map





Traffic Count Map1722 W Main St, Kalamazoo, Michigan, 49006 Prepared by EsriRings: 1, 2, 3 mile radii Latitude: 42.29426


Source: ©2015 Market Planning Solutions, Inc.

August 04, 2015


Traffi c Count Map





Demographics


Executive Summary1722 W Main St, Kalamazoo, Michigan, 49006 Prepared by EsriRings: 1, 2, 3 mile radii Latitude: 42.29426


1 mile 2 miles 3 milesPopulation

2000 Population 13,083 47,260 82,0482010 Population 16,471 44,815 80,3382015 Population 16,557 45,495 81,7162020 Population 16,772 46,656 83,9432000-2010 Annual Rate 2.33% -0.53% -0.21%2010-2015 Annual Rate 0.10% 0.29% 0.32%2015-2020 Annual Rate 0.26% 0.51% 0.54%2015 Male Population 50.3% 50.9% 49.6%2015 Female Population 49.7% 49.1% 50.4%2015 Median Age 23.3 24.3 26.4

In the identified area, the current year population is 81,716. In 2010, the Census count in the area was 80,338. The rate of change since 2010 was 0.32% annually. The five-year projection for the population in the area is 83,943 representing a change of 0.54% annually from 2015 to 2020. Currently, the population is 49.6% male and 50.4% female.

Median Age

The median age in this area is 23.3, compared to U.S. median age of 37.9.Race and Ethnicity

2015 White Alone 70.6% 69.4% 67.9%2015 Black Alone 19.2% 20.8% 21.3%2015 American Indian/Alaska Native Alone 0.4% 0.4% 0.5%2015 Asian Alone 2.7% 2.8% 2.3%2015 Pacific Islander Alone 0.0% 0.1% 0.0%2015 Other Race 2.4% 2.1% 3.0%2015 Two or More Races 4.7% 4.4% 4.9%2015 Hispanic Origin (Any Race) 6.0% 5.4% 7.0%

Persons of Hispanic origin represent 7.0% of the population in the identified area compared to 17.6% 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 55.9 in the identified area, compared to 63.0 for the U.S. as a whole.

Households2000 Households 5,344 17,186 31,9052010 Households 5,114 17,184 32,0772015 Total Households 5,205 17,605 32,8612020 Total Households 5,324 18,168 33,8912000-2010 Annual Rate -0.44% 0.00% 0.05%2010-2015 Annual Rate 0.34% 0.46% 0.46%2015-2020 Annual Rate 0.45% 0.63% 0.62%2015 Average Household Size 2.17 2.21 2.27

The household count in this area has changed from 32,077 in 2010 to 32,861 in the current year, a change of 0.46% annually. The five-year projection of households is 33,891, a change of 0.62% annually from the current year total. Average household size is currently 2.27, compared to 2.28 in the year 2010. The number of families in the current year is 14,316 in the specified area.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2015 and 2020. Esri converted Census 2000 data into 2010 geography.

August 04, 2015





Demographics Continued


Executive Summary1722 W Main St, Kalamazoo, Michigan, 49006 Prepared by EsriRings: 1, 2, 3 mile radii Latitude: 42.29426


1 mile 2 miles 3 milesMedian Household Income

2015 Median Household Income $30,355 $27,555 $29,3872020 Median Household Income $35,489 $31,062 $33,3602015-2020 Annual Rate 3.17% 2.42% 2.57%

Average Household Income

2015 Average Household Income $43,739 $43,180 $45,0192020 Average Household Income $50,189 $49,576 $51,5552015-2020 Annual Rate 2.79% 2.80% 2.75%

Per Capita Income2015 Per Capita Income $18,549 $18,789 $19,3712020 Per Capita Income $20,799 $21,394 $22,0872015-2020 Annual Rate 2.32% 2.63% 2.66%

Households by IncomeCurrent median household income is $29,387 in the area, compared to $53,217 for all U.S. households. Median household income is projected to be $33,360 in five years, compared to $60,683 for all U.S. households

Current average household income is $45,019 in this area, compared to $74,699 for all U.S. households. Average household income is projected to be $51,555 in five years, compared to $84,910 for all U.S. households

Current per capita income is $19,371 in the area, compared to the U.S. per capita income of $28,597. The per capita income is projected to be $22,087 in five years, compared to $32,501 for all U.S. households Housing

2000 Total Housing Units 5,747 18,465 34,4332000 Owner Occupied Housing Units 2,206 6,657 14,8342000 Renter Occupied Housing Units 3,138 10,529 17,0702000 Vacant Housing Units 403 1,279 2,529




Currently, 36.5% of the 36,945 housing units in the area are owner occupied; 52.5%, renter occupied; and 11.1% are vacant. Currently, in the U.S., 55.7% of the housing units in the area are owner occupied; 32.8% are renter occupied; and 11.6% are vacant. In 2010, there were 35,963 housing units in the area - 38.3% owner occupied, 50.9% renter occupied, and 10.8% vacant. The annual rate of change in housing units since 2010 is 1.20%. Median home value in the area is $109,800, compared to a median home value of $200,006 for the U.S. In five years, median value is projected to change by 4.03% annually to $133,771.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2015 and 2020. Esri converted Census 2000 data into 2010 geography.

August 04, 2015






Tenant Overview 1722 West Main StreetKalamazoo, Michigan 49006



for sale: dollar tree // nnn lease -...

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