market positioning and pricing analysis · richmond office. tel: (202) 536-3782:...

P R E S E N T E D B YDennis ShubertAssociateRichmond OfficeTel: (202) [email protected]: VA 0225228576

Market Positioning and Pricing Analysis

16801 MIDLOTHIAN TURNPIKE16801 Midlothian Turnpike • Midlothian , VA 23112

16801 MIDLOTHIAN TURNPIKEMidlothian , VAACT ID ZAA1000046

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Non-EndorsementsMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of anycorporation'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 orsubsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information aboutthis listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information hasbeen secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. Referencesto square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus &Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

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16801 MIDLOTHIAN TURNPIKE

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THE MARCUS & MILLICHAP

ADVANTAGE

1,977MARCUS & MILLICHAPPREMIER INVESTMENT SERVICESMarcus & Millichap is the premier commercial real estate investment services firm in the United States. Founded in 1971 on a unique model that matches each property with the largest pool of pre-qualified investors, we leverage four decades worth of experience and relationships to handle all of your commercial real estate needs. Our team of more than 1,977professionals in the U.S. and Canada focuses exclusively on real estate investment sales, financing, research, and advisory services.


Founded in 1971 on a

unique methodology

Largest pool of pre-qualified investors inthe industry

Moves capital across our network of investment

professionals

More than 1,977investment

professionals in the U.S. and

Canada

WITH AN EXCLUSIVE FOCUS ONreal estate investment sales, financing, research, and advisory services

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MARCUS & MILLICHAP ADVANTAGE

M O R E T H A N

WIDE RANGE OF CAPABILITIES, PROVEN EXECUTION PROCESSOur proprietary platform and wide range of capabilities maximize our client results. As an industry leader in closed transactions with a history of repeat business, you can trust in our decades of process-driven success.

MARCUS & MILLICHAPCAPABILITIES

PERFECTED PROCESS-DRIVENEXECUTION


Investment Sales and Product Specialization

Largest Collaborative InvestmentSales Force

Local Submarket Client Coverage

Industry Leading Technology Platform

Real-Time Access to Transaction Data

Access to Competitive Financing

Largest Pool of Exclusive Inventory

Pricing, Marketing, and Positioning Strategy toDrive Competitive Bidding

Timeline-Driven Escrow Management to Mitigate Risk

Transaction Execution for1031 Exchange Candidates

9,472

47%

4.7

T R A N S A C T I O N S

CLOSED IN 2018

T R A N S A C T I O N SC L O S E D E V E R YB U S I N E S S H O U R

CLOSED WITHOUT-OF-STATECAPITAL IN 2018

T R A N S A C T I O N S

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THE MARCUS & MILLICHAPADVANTAGE

REAL ESTATE INVESTMENT

SALESFINANCING RESEARCH

ADVISORY SERVICES



Largest commercial realestate brokerage firm in the

country, with specialization in all major property types and

more than 1,977 professionals collaborating at every stage

Access to the industry’slargest inventory of quality

investment opportunities

Superior capital market expertise, precisely managed

financing, and unparalleled access to the most competitive

rates, terms, and capital sources through MMCC

Prominent capital market relationships with commercial

banks, secured lenders,debt and equity funds,

life insurance companies, private and public funds, etc.

Provides clients with the latest local and national market trends based on real-time data to create optimal positioning, pricing, and marketing strategies

Industry’s most in-depth understanding of a variety of property types in numerouslocal and national markets,with over 1,400 research products produced annually

Comprehensive advisoryand consulting services togive you buy-sell-holddecisions based on real-time market knowledge and research

Maximizes value for our clientsin each transaction and shapes long-term portfolio strategies

Marcus & Millichap tailors our investment strategies to meet the unique needs and goals of each client. To best serve our clients and to maximize value, we combine our collaborative culture with the world’s most advanced technology to create the industry’s most powerful proprietary marketing system.

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Because we cover a wide variety of property types, Marcus & Millichap gives you access to the industry’s largest investment inventory. Through property specialization and information sharing, our investment professionals cultivate relationships across the U.S. and Canada. We leverage these relationships to provide our clients with the insight and opportunities to maximize their investments.

SPECIALTYDIVISIONS

MULTIFAMILY RETAILSINGLE TENANT NET-LEASE

OFFICEFINANCING HOSPITALITY AFFORDABLE HOUSING

LAND HEALTHCAREINDUSTRIAL MANUFACTUREDHOUSING

SELF-STORAGE SENIORSHOUSING

STUDENT HOUSING


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When a client hires a local agent, the entire Marcus & Millichap team stands behind that agent. Each investment professional can leverage Marcus & Millichap’s carefully cultivated network of local, regional, and national contacts in order to provide clients with access to our unsurpassed product inventory, large client base that is sourced both internally and externally, and excellent product capital sourcing. Through maximum controlled exposure, our local agents create a maximum result for each client.

MARCUS & MILLICHAP NETWORK



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INDUSTRY’S LARGEST SELECTION OFQUALITY INVESTMENT INVENTORY


INVESTMENT OPTIONS AND OPPORTUNITIESThe success of Marcus & Millichap is based on our collaborative culture of information sharing across our network of more than 1,977investment professionals, which maximizes value for each of our clients.

Working with a unique platform that is antithetical to the concept of “pocket listings,” our investment professionals share all listings with the entire Marcus & Millichap team. Each professional specializes in a property type and has a database of local properties and owners, which is leveraged in every client assignment. Because each local agent specializes in a single product type in a specific geographic region, our clients are completely covered across the U.S. and Canada with every investment.

Our foundation of information sharing maximizes pricing for our clients and gives us the largest inventory of any firm in the industry.

THE SIZE AND ACCESSIBILITY OF OUR INVENTORY ENABLES YOU TO SELL YOUR PROPERTY AND QUICKLY MOVE INTO ANOTHER PROFITABLE INVESTMENT.

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T R A N S A C T I O N S C L O S E DWITH 1031 EXCHANGE BUYERS

1031 EXCHANGES

C U R R E N T L Y$22.4B

EXCLUSIVELY LISTED

32%

1,977C O L L A B O R A T I V EA G E N T D A T A B A S E S

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5,035EXCLUSIVE LISTINGS

Exclusive Listings as of 2/20/2019* Financing summary not included in Exclusive Listings total


GAIN ACCESS TO THE NATION’S LARGEST EXCLUSIVE INVENTORY OF PROPERTIES FOR ALL PRODUCT TYPES

880 MULTIFAMILY

1,190 SINGLE TENANT NET-LEASE

420 FINANCING*

1,659 RETAIL

299 OFFICE

219 HOSPITALITY

81 AFFORDABLE HOUSING

266 LAND

177 INDUSTRIAL

79 SELF-STORAGE

58 HEALTHCARE

43 MANUFACTURED HOUSING

70 SENIORS HOUSING

14 STUDENT HOUSING

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Whether you’re looking to buy, sell, refinance, or hold, Marcus & Millichap leverages real-time market research to assess local and national trends, with specialized focus on individual property types. Backed by the collaborative culture of industry experts, your local investment professional will walk you through each phase of your investment strategy.

MANAGE AND OPERATE

DISPOSITION AND EXCHANGE ACQUISITION

INVESTOR CONCERNS

Is holding my asset the most profitable choice in this market?

How can I best take advantage of the capital markets to maximize my returns?

Based on my investment risk tolerance and objectives, what opportunities should I consider?

How should I position my portfolio for potential changesin market conditions?

INVESTOR CONCERNS

Is now the right time to sell?

How can I leverage the capital markets to maximize my results?

How do I optimize my position via a disposition?

What alternatives and associated investment returns would I have in the event of a sale?

INVESTOR CONCERNS

When is the right time to buy?

What investment opportunities are available for my consideration?

What are the risks in the current market?

What are my financing options?

How will an acquisition impact my portfolio’s returns?

MARCUS & MILLICHAP’S SOLUTIONSValue and market positioning analysis

Disposition buyer financing

New acquisition financing

1031 exchange investment alternatives analysis

MARCUS & MILLICHAP’S SOLUTIONS

Strategic “hold” analysis

Refinance strategic analysis

Quarterly investment return analysis

Ongoing market and submarket research

Ongoing product-specific research

MARCUS & MILLICHAP’S SOLUTIONS

Pre-acquisition analysis

Financial investment analysis

Market and submarket research

Product-specific research

ADVISORY SERVICES ACROSS THE OWNERSHIP LIFECYCLE


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MARCUS & MILLICHAP CAPITAL CORPORATION CAPABILITIESMMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and terms.

We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of financing options.

Our dedicated, knowledgeable experts understand the challenges of financingand work tirelessly to resolve all potential issues for the benefit of our clients.

Optimum financing solutions to enhance value

Enhanced control through investor qualification support

Enhanced control through MMCC’s ability to qualify investor finance contingencies

Enhanced control through MMCC’s ability to monitor investor/due diligence and underwriting to ensure timely, predictable closings

Enhanced control through quickly identifying potential debt/equity sources, processing, and closing buyer’s finance alternatives

WHY MMCC?

National platform operating

within the firm’s brokerage offices

$6.24 billiontotal national

volume in 2018

Access to more capital sources than any other

firm in the industry

Closed 1,678debt and equity

financings in 2018


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MARKETING

PLAN

PREMIER ACCESS TO INVESTOR PROFILES

Our comprehensive marketing plan gives you access to the full spectrum of investment profiles, with a special emphasison cross-product and 1031 exchange capital.

Foreign and International Buyers

2nd Tier Investors

3rd Tier Investors

1st Tier Investors

Cross-Product Capital

1031 Exchange Capital

Pension funds, advisors, banks, REITs, and life insurance companies

Opportunistic investors seeking diversification in other real estate property types

Investors seeking acquisition opportunities for capital gains tax deferral

Foreign investors seeking domestic opportunities and technology enablers that direct foreign demand

Private, individual investors who account for the majority of transactions in the marketplace

Syndicators, developers, merchant builders, general partnerships, and professional investors

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MARKETING PLAN


MAXIMUM EXPOSURE CREATES MAXIMUM VALUEOur comprehensive marketing plan provides strategic exposure for your asset. Whether the optimal strategy requires maximum exposure within a single profile, broad exposure across all investor profiles, or a hybrid approach, our platform ensures maximum value across every client profile.

Specializing exclusively in investment sales, our network of more than 1,977 investment professionals throughout the U.S. and Canada guarantees your property is exposed to the largest pool of qualified buyers.

We access via our highly organized national product specialty groups and the regional and national marketing opportunities they present.

Our collaborative culture across product types, enabled through MNet, ensures access to the broadest pool of qualified investors.

Access the Industry’s largest pool of 1031 exchange buyers, as a result of closing more transactions annually than any other commercial real estate brokerage firm.

As the leader in investment sales transactions annually, Foreign capital is drawn to our firm as the conduit to the nation’s largest exclusively listed inventory. Foreign investors seek our advice, market reach and long-standing client relationships with the industry’s largest pool of buyers and sellers.

Marcus & Millichap maintains long-term relationships with these investors via our IPA divisions, national product specialty groups, and over 800 senior investment professionals.STRATEGY

MARKETING PLAN

FOREIGN AND INTERNATIONAL BUYERS

2ND TIER INVESTORS

3RD TIER INVESTORS

1ST TIER INVESTORS

CROSS-PRODUCT CAPITAL

1031 EXCHANGE CAPITAL

KEARNEYAPARTMENTS

MARCUS & MILLICHAP ADVANTAGEMARKETING PLAN


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MARKETING PLAN


COMPREHENSIVE INTERNAL AND EXTERNAL EXPOSURE

Our comprehensive marketing plan leverages all channels of communication to maximize property exposure, both internally and externally. We provide and produce offering memorandums, conduct internal and external email marketing, and initiate internal and external telephone contact.

Exposure to the market ultimately determines the final outcome of a sale, and we work to create the best exposure in the industry for your property.

30-DAY LEAD: Finalize financial analysis, property overview, and photographs.

DAY 4: Deliver a draft of the offering memorandum for client approval.

DAY 6: Begin active marketing, using the offering memorandum as the focal point. In particular, highlight the property’s future value.

Once active, the offering memorandum is available to all Marcus & Millichap sales professionals to present to our large pool of pre-qualified buyers.

30-DAY LEAD: Draft of email campaign presented for client approval.

DAY 6: First wave of internal and external email campaign sent with tracking capability for “opens.” Commence follow-up via telephone to sell the opportunity, gauge interest,and overcome buyer objections.

DAY 20: Begin second wave of email campaign and telephone follow-ups.

Note: Email campaigns continue throughout the listing period.

30-DAY LEAD: Probable buyer list created from team’s database, including probable exchange buyers from prior 30-day sales comps.

DAY 6: Direct outreach to Marcus & Millichap sales professionals via office presentations and telephone conferences.

DAY 8: Marketing team makes direct telephone contact with list of all probable buyers.

Note: Telephone campaigns continue throughout the listing period.

O F F E R I N GM E M O R A N D U M

I N T E R N A L & E X T E R N A L

E M A I L M A R K E T I N GI N T E R N A L & E X T E R N A L

P H O N E C O N T A C T

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MARKETING PLAN

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LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAME16801 MIDLOTHIAN TURNPIKE

PRICING AND VALUATION MATRIX


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MARKETING PLAN

PRIOR TO MARKETING ON MARKET

MARKETING TIMELINEDAYS 11–20 DAYS 21–60 DAYS 61–365

Produce Offering Memorandum

Produce Flyers

Finalize Underwritingand Lease Abstract, if Applicable

Creation of Targeted Buyer List

Lender Evaluation

Source Term Sheets in Capital Market

Client Review and Approval of All Materials

Activate Listing in MNet, Our Proprietary Marketing System, to Instantly Match Prospective Buyers and Investment Professionals with Your Property

Present Property at Local Sales Meetings

Personally Contact Target Buyers: Private Hybrid and Institutional

Source Term Sheets in Capital Markets

Send Strategic PropertyE-Campaign to Prospective Buyers and Promote 1031 Exchange Parameters

Expose Listing to www.MarcusMillichap.com: 26,948 Hits Daily

Execute E-Campaign to Qualified Private Buyer Pool

Present Property on National Product Specialty Group Investor Call and Regional Calls

Actively Advertise Across Multiple Platforms

Execute Targeted Print Campaign

Aggregate, Fieldand Present All Offers

Qualify and RefineBuyer Pool

Assist with Negotiation of Purchase and Sale Agreement, if Applicable

Provide Access to AllDue Diligence to MitigateRetrade, Legal Delays, etc.

Coordinate Escrow Process

Conduct PropertyInspection

Leverage Buyer to Open Escrow Non-Contingent

Close Escrow

Assist with Third-Party Consultants such as Environmental, Civil Engineering, Soil Testing, Survey, Title, etc.

Confirm Existing Zoning and/or Evaluate Proposed Changes

Work with Planning Commission, City Council, Board of Review

Verify Utilities, Flood Plain, Wetlands, Roads

Understand Ingress/Egress

DAYS 1–1010-DAY LEAD

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MARKETING PLAN


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WHY MARCUS & MILLICHAP?

Specialists in product type and geographic location

Creates buyer competition to maximize price and increase probability of a successful closing

Access to information sharing throughout the largest network of investment professionals in U.S. and Canada as part of our collaborative culture

Proactively promotes your property to local, regional, and national Marcus & Millichap professionals

YOUR LOCAL AGENT

THE MARCUS & MILLICHAP PLATFORM

Repeat clients

Decades worth of experience

Highly-focused specialization

Collaborative culture built on information sharing

Industry-leading technology platform

A HISTORY OF CLIENT RESULTS

Largest database of qualified investors in the industry

Unparalleled access to potential buyers, including one of the largest databases of 1031 exchange buyers

More than 1,977 investment professionals working collaboratively to achieve client results

M A R C U S & M I L L I C H A P

IS ALEADINGCOMMERCIALREAL ESTATEI N V E S T M E N T

S E R V I C E SFIRM IN THE

AND CANADAU.S.

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INVESTMENT

OVERVIEW

PROPERTY OVERVIEW


PROPERTY OVERVIEW

This 6.15 Acre parcel of prime developable land is located at highly visible intersection in Midlothian, a suburb in centralRichmond. An outstanding location at the intersection of the very busy Midlothian Turnpike and Old Hundred Road. With adaily traffic count of nearly 33,000 vehicles per day, the site is ideal for a number of commercial uses, including retail andconvenience, office and mixed-use, medical office, and more.

Situated at the northwest quadrant of Route 288 and US 60 (Midlothian Turnpike) the site is less then 2 miles fromWestchester Commons, Chesterfield County’s premier outdoor shopping center. The 128-acre shopping center is part ofWatkins Centre and opened for business in March of 2009. It offers over 600,000 SF of retail and features over 55 local andnational retailers. The center is made up of national tenants Target, Regal, and OfficeMax. Additionally, Bon SecoursWestchester Medical Park complements the area with a strong state-of-the-art, $40 Million facility.

16801 Midlothian Turnpike represents the opportunity to develop any number of uses in a growing retail and medicalcorridor.

PROPERTY OVERVIEW

Easily accessible to I-64 and I-95, about 20 miles from downtown Richmond

A short 2 miles from Westchester Commons and Bon Secours WestchesterMedical Park

Adjacent to Rt. 60/Anderson Highway and Windy Hill Sports Complex

Located in a high growth corridor, 2 miles from the award wining HallselyNeighbrhood

A very strong 32,000+ vehicle per day traffic count

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AERIAL PHOTO


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PROPERTY PHOTO


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LOCATION OVERVIEW

CLOSE PROXIMITY TO:

16801 Midlothian Turnpike, Midlothian , VA 23112

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX


PRICING AND VALUATION MATRIX


LOCATION OVERVIEW

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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS


PROPERTY SUMMARY

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SALES COMPARABLES MAP

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16801 MIDLOTHIAN TURNPIKE(SUBJECT)

Cavalier Industrial Park

SALES COMPARABLES

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MARKET

OVERVIEW

MARKET OVERVIEW

OVERVIEWRICHMOND

Richmond is the capital city of Virginia and consists of the cities of

Richmond, Petersburg, Hopewell and Colonial Heights, as well as the

counties of Henrico, Chesterfield, Amelia, Caroline, King William, Sussex,

Charles City, Dinwiddie, Hanover, Goochland, New Kent, Powhatan and

Prince George. The metro is bordered by the Virginia Beach metro to the

east, the Charlottesville metro to the west, and Winchester and Northern

Virginia-Washington to the north.

Richmond’s strategic location on the James River is historically responsible for the metro’s development as a major center of commerce. Today a well-developed intermodal network points back to this legacy, while the economy has diversified to many professional industries.

Nationally recognized banks and financial institutions are located in Richmond. It is home to the Federal Reserve Bank of Richmond, Capital One, SunTrust Banks, Wells Fargo, Bank of America and Markel.

Law and legal services are another major component of the metro’s local economy. The city of Richmond is home to five of the largest legal firms in the world, each of which handles cases at the national and international level.

DEMOGRAPHICS

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ECONOMY

METRO HIGHLIGHTS

* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau


COMMERCE CENTERThe area has a well-developed intermodal transportation network that distributes goods throughout the nation.

ROBUST PROFESSIONAL WORKFORCEAs the state’s capital city, the metro is a major player in the government, financial and legal services industries.

EMPLOYMENT GAINSOver the next five years, area employers are forecast to add nearly 25,000 workers to staffs.

1.3M2018

POPULATION:

503K2018

HOUSEHOLDS:

38.52018

MEDIAN AGE:

$66,1002018 MEDIAN

HOUSEHOLD INCOME:

U.S. Median:38.0

U.S. Median:$58,8006.5%

Growth2018-2023*:5.6%

Growth2018-2023*:

PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS

Source: © 2018 Experian

Created on September 2019

POPULATION 1 Miles 3 Miles 5 Miles 2023 Projection

Total Population 310 11,822 55,147 2018 Estimate

Total Population 250 10,008 48,884 2010 Census

Total Population 198 8,175 41,708 2000 Census

Total Population 69 4,242 28,731 Daytime Population

2018 Estimate 146 8,293 39,605HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2023 Projection

Total Households 114 4,370 20,234 2018 Estimate

Total Households 91 3,629 17,683Average (Mean) Household Size 2.89 2.73 2.74

2010 CensusTotal Households 73 2,991 15,260

2000 CensusTotal Households 24 1,414 9,839

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2018 Estimate

$250,000 or More 10.62% 11.00% 8.90%$200,000 - $249,999 8.12% 7.53% 6.91%$150,000 - $199,999 14.32% 13.98% 13.90%$125,000 - $149,999 10.94% 10.15% 11.04%$100,000 - $124,999 19.14% 12.84% 14.07%$75,000 - $99,999 11.99% 14.39% 14.90%$50,000 - $74,999 10.36% 11.33% 12.23%$35,000 - $49,999 5.14% 6.76% 7.14%$25,000 - $34,999 3.18% 4.51% 4.20%$15,000 - $24,999 3.06% 4.07% 3.35%Under $15,000 3.13% 3.45% 3.35%

Average Household Income $157,083 $152,266 $142,891Median Household Income $116,765 $110,210 $108,229Per Capita Income $57,131 $55,222 $51,709

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PROPERTY NAME

MARKETING TEAM


DEMOGRAPHICS


Created on September 2019

POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population by Age

0 to 4 Years 7.61% 5.81% 5.50%5 to 14 Years 16.35% 13.75% 14.50%15 to 17 Years 4.90% 4.97% 4.79%18 to 19 Years 2.21% 2.55% 2.44%20 to 24 Years 4.28% 5.08% 5.03%25 to 29 Years 4.07% 4.21% 4.15%30 to 34 Years 5.81% 4.77% 4.73%35 to 39 Years 8.15% 5.98% 6.12%40 to 49 Years 15.10% 14.26% 14.05%50 to 59 Years 12.63% 15.46% 15.09%60 to 64 Years 5.44% 6.83% 7.11%65 to 69 Years 5.39% 6.70% 6.59%70 to 74 Years 3.44% 4.02% 3.98%75 to 79 Years 1.90% 2.39% 2.31%80 to 84 Years 1.11% 1.56% 1.53%Age 85+ 1.59% 1.66% 2.05%Median Age 37.98 42.25 42.09

POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population 25+ by Education Level

2018 Estimate Population Age 25+ 162 6,790 33,109Elementary (0-8) 1.85% 1.64% 1.28%Some High School (9-11) 1.35% 1.87% 2.17%High School Graduate (12) 13.50% 15.24% 14.86%Some College (13-15) 18.64% 18.40% 18.41%Associate Degree Only 8.26% 7.37% 7.48%Bachelors Degree Only 32.38% 32.04% 33.70%Graduate Degree 23.56% 23.21% 21.83%

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IncomeIn 2018, the median household income for your selected geography is$116,765, compare this to the US average which is currently $58,754.The median household income for your area has changed by 20.26%since 2000. It is estimated that the median household income in yourarea will be $130,062 five years from now, which represents a changeof 11.39% from the current year.

The current year per capita income in your area is $57,131, comparethis to the US average, which is $32,356. The current year averagehousehold income in your area is $157,083, compare this to the USaverage which is $84,609.

PopulationIn 2018, the population in your selected geography is 250. Thepopulation has changed by 262.32% since 2000. It is estimated thatthe population in your area will be 310.00 five years from now, whichrepresents a change of 24.00% from the current year. The currentpopulation is 47.69% male and 52.31% female. The median age of thepopulation in your area is 37.98, compare this to the US averagewhich is 37.95. The population density in your area is 79.62 people persquare mile.

HouseholdsThere are currently 91 households in your selected geography. Thenumber of households has changed by 279.17% since 2000. It isestimated that the number of households in your area will be 114 fiveyears from now, which represents a change of 25.27% from thecurrent year. The average household size in your area is 2.89persons.

EmploymentIn 2018, there are 598 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that81.25% of employees are employed in white-collar occupations in thisgeography, and 15.63% are employed in blue-collar occupations. In2018, unemployment in this area is 4.08%. In 2000, the average timetraveled to work was 26.00 minutes.

Race and EthnicityThe current year racial makeup of your selected area is as follows:74.72% White, 8.81% Black, 0.09% Native American and 12.11%Asian/Pacific Islander. Compare these to US averages which are:70.20% White, 12.89% Black, 0.19% Native American and 5.59%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.

People of Hispanic origin make up 4.05% of the current yearpopulation in your selected area. Compare this to the US average of18.01%.

PROPERTY NAME

MARKETING TEAM


HousingThe median housing value in your area was $391,411 in 2018,compare this to the US average of $201,842. In 2000, there were 23owner occupied housing units in your area and there were 1 renteroccupied housing units in your area. The median rent at the time was$823.


DEMOGRAPHICS

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DEMOGRAPHICS

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www.MarcusMillichap.com

Dennis Shubert

AssociateRichmond OfficeTel: (202) [email protected]: VA 0225228576

P R E S E N T E D B Y

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market positioning and pricing analysis · richmond office. tel: (202) 536-3782:...

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