s restaurant scissors o a l nails n · 2019-03-07 · rock paper scissors salon -at rock paper...

SALON

HONG EXPRESSR E S T AU R ANT NAILS

Briarwood Retail Center1493‐1505 South Randall Road | Algonquin, Illinois 60102

ROCK PAPER S C I S SORS

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

Confidentiality and DisclaimerThe information contained in the follow ing Marketing Brochure is proprietary and strictly confidential. It is intended to be review ed only by the party receiving it from Marcus & Millichap andshould 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, unverif iedinformation 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 duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, w ith respect to the income or expenses for the subject property, thefuture 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 orasbestos, the compliance w ith State and Federal regulations, the physical condition of the improvements thereon, or the financial condit ion or business prospects of any tenant, or anytenant'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;how ever, Marcus & Millichap has not verif ied, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these mattersand makes no w arranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all ofthe information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not aff iliated w ith, sponsored by, or endorsed by any commercial tenant or lessee identif ied in this marketing package. The presence of any corporation's logo or nameis not intended to indicate or imply aff iliation w ith, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its aff iliates or subsidiaries, or any agent, product, service, orcommercial 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.

BRIARWOOD RETAIL CENTERAlgonquin, ILACT ID Z0370076

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Briarwood Retail Center

I N V E S T M E N T O V E R V I E W

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Marcus & Millichap is pleased to exclusively present for sale a retail center located in Algonquin, Illinois. The Property consists of a 1.93-acre parcel located at the north-east corner of South Randall Road and County Line Drive. Affixed to the Property is a one-story building measuring approximately 13,807-square feet that is currently 100 percent leased to national and local tenants. The Property benefits from its’ signalized intersection location which generates a traffic count of over 50,000 vehicles per day. The Property also features a drive-thru window located on the north-end cap of the building and ample parking space available with a parking ratio of 6.88/1,000 to accommodate the tenant’s customers.

The center is fully leased to five Tenants, all of which operate under triple-net leases; reimbursing for their pro-rata share of operating expenses. The center also has a healthy lease rollover with two of the five tenants having recently executed long-term leases. All tenants are operated by independent operators, except for T-Mobile, a corporate operated store.

An investor has the opportunity in acquiring a stabilized center that is located alongside a major retail corridor with a combination of neighbor-ing big box and mid-size retailers. A new investor has the ability to potentially maximize the drive-thru feature by leasing the north-end cap unit to a future tenant that is willing to pay a premium for that amenity. The property is also currently professionally operated by a third-party management company. As such, a new investor can continue enjoying the stabilized income with minimal landlord responsibilities.

► Fully Occupied & Stabilized Retail Center

All Tenants Operate Under Triple-Net Leases

► Two New Long-Term Leases Recently Executed

Further Showing Tenant Commitment to Location

► Located at Signalized Intersection & Alongside Randall Road

Traffic Count of Over 50,000 Vehicles Per Day

► Affluent Community with Above Average Household Income (HHI)

Average HHI Over $136,000 Within a One-Mile Radius

► Healthy Lease Rollover with Rent Increases

The Average Remaining Lease Term is Over 5 Years

I N V E S T M E N T H I G H L I G H T S

Multiple Access Points 100% Occupied Heavily Traveled

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O V E R V I E W M A P

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PROPER T YANALYSIS

BRIARWOOD RETAIL CENTER

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C A P R AT E

7.76%

VITAL DATA

Price $3,785,000Cap Price 7.76%Price/SF $274.14Gross Square Feet 13,807 SFLot Size 1.93 Acres Year Built 2004Occupancy 100%

1493-1505 SOUTH RANDALL ROAD, ALGONQUIN, ILLINOIS 60102

B R I A R W O O D R E TA I L C E N T E R

O F F E R I N G P R I C E

$3,785,000

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T E N A N T S U M M A R Y

LEASE DATES

TENANT SUITE SQUAREFEET

% BLD SHARE COMM. EXP.

ANNUAL RENT/

PSF

TOTAL RENT/

MONTH

TOTAL RENT/YEAR

CHANGES ON CHANGES TO LEASE

TYPEEXPENSE

REIMBURSERENEWAL OPTIONS

HONG EXPRESS 1493 3,109 22.5% 2/1/18 1/31/26 $19.00 $4,923 $59,071 May -2022 $68,398 NNN $26,854 One, (5YR) Option

ROCK PAPER

SCISSORS

SALON

1497 1,496 10.8% 9/1/15 11/30/20 $21.30 $2,655 $31,865 Sept-2019 $33,360 NNN $12,922 None

T-MOBLE 1499 2,891 20.9% 9/16/16 9/30/24 $32.40 $7,806 $93,668 Oct -2024 $103,035 NNN $21,411 Two, (5YR) Options

HOLLY NAILS 1503 1,484 10.7% 11/11/10 11/10/30 $22.80 $2,820 $33,840 Nov-2019 $34,860 NNN $12,817 Two, (5YR) Options

GIORDANO’S 1505 4,827 35.0% 3/1/12 2/28/22 $20.00 $8,045 $96,540 NA NA NNN $41,692 Two, (5YR) Options

Total 13,807 $22.81 $26,249 $314,984 $115,696

Occupied Tenants: 5 Occupied GLA: 100 % Unoccupied Tenants: 0 Unoccupied GLA: 0.00%

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O P E R AT I N G D ATA

OPERATING EXPENSES YEAR 1 PER SF YEAR 2 PER SF

COMMON AREA MAINTENANCE (CAM)

Utilities $2,839 $0.21 $2,881 $0.21

Trash Removal $2,857 $0.21 $2,900 $0.21

Repairs & Maintenance $17,078 $1.24 $17,334 $1.26

Landscaping | Parking Lot Sweep $3,430 $0.25 $3,482 $0.25

Snow Removal $8,213 $0.59 $8,336 $0.60

Total CAM Expenses $34,417 $2.49 $34,933 $2.53

Insurance $4,665 $0.34 $4,735 $0.34

Real Estate Taxes $63,171 $4.58 $64,119 $4.64

Management Fee $17,000 4.1% $1.23 $17,250 4.1% $1.25

Other Expenses - Non-Rimbursable $6,127 $0.44 $6,218 $0.45

Total Expenses $125,381 $9.08 $127,257 $9.22

Expenses as % of EGR 29.9% 30.1%

Net Operating Income $293,745 $21.28 $294,970 $21.36

INCOME YEAR 1 PER SF YEAR 2 PER SF

Scheduled Base Rental Income $316,072 $22.89 $317,499 $23.00

Expense Reimbursement Income

CAM $34,418 $2.49 $34,934 $2.53

Insurance $4,666 $0.34 $4,736 $0.34

Real Estate Taxes $63,172 $4.58 $64,119 $4.64

Management Fee $13,440 $0.97 $13,638 $0.99

Total Reimbursement Income $115,696 92.3% $8.38 $117,427 92.3% $8.50

Potential Gross Revenue $431,768 $31.27 $434,926 $31.50

General Vacancy ($12,643) 4.0% ($0.92) ($12,700) 4.0% ($0.92)

Effective Gross Revenue $419,125 $30.3 $422,226 $30.58

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PRICING DETAILS

THE OFFERING

Property

Property Address1493-1505 SOUTH RANDALL ROAD ALGONQUIN, IL 60102

Price $3,785,000

Capitalization Rate 7.76%

Price/SF $274.14

PROPERT Y DESCRIPTION

Year Built / Renovated 2004

Gross Leasable Area 13,807 SF

Zoning COMMERCIAL

Type of Ownership FEE SIMPLE

Lot Size 1.93 ACRES

PARKING 95 PARKING SPACES

ANNUALIZED OPERATING INFORMATION

INCOME

Net Operating Income $293,745

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INCOME YEAR 1 YEAR 2

Scheduled Base Rental Income $316,072 $317,499

Total Reimbursement Income 36.6% $115,696 37.0% $117,427

Potential Gross Revenue $431,768 $434,926

General Vacancy ($12,643) ($12,700)

Effective Gross Revenue $419,125 $422,226

Less: Operating Expenses 29.9% ($125,381) 30.1% ($127,257)

Net Operating Income $293,745 $294,970

Cash Flow $293,745 $294,970

Debt Service ($188,654) ($188,654)

Net Cash Dlow After Debt Service 9.26% $105,091 9.36% $106,316

Principal Reduction $53,455 $56,273

Total Return $158,545 14.32% $162,590

GENERAL INFORMATION

TENANT NAME HONG EXPRESS

WEBSITE NA

HEADQUARTERS ALGONQUIN, ILLINOIS

RENTABLE SQ.FT. 3,109 SF

NUMBER OF LOCATIONS 1

TENANT PROFILE

HONG EXPRESS offers a wide range of Chinese food such as egg rolls, Beef Fried Rice, Shrimp Pad Thai and Kung Pao chicken

to name of a few of the dishes. Our restaurant is very clean and comfortable, and the portions are of good size and resonably

priced. Source: Agent generated profile

T-Mobile is the brand name used by the mobile communications subsidiaries of the German telecommunications company

Deutsche Telekom AG. The brand is active in Austria, the Czech Republic, the Netherlands, Poland, and the United States.

Source:www.t-mobile.com

HONG EXPRESS

TENANT PROFILE

GENERAL INFORMATION

TENANT NAME T-MOBILE (Corporate Store)

WEBSITE WWW.T-MOBILE.COM

HEADQUARTERS BELLEVUE, WASHINGTON


Number of Locations 20,100

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GENERAL INFORMATION

TENANT NAME HOLLY NAILS

WEBSITE NA



Number of Locations 1

TENANT PROFILE

NAILS

TENANT PROFILE

GENERAL INFORMATION

TENANT NAME GIORDANO’S

WEBSITE WWW.GIORDANOS .COM

HEADQUARTERS CHICAGO, ILLINOIS


NUMBER OF LOCATIONS 40+

HOLLY NAILS - A Look is not complete without cute nails. Check out our location in Algonquin. We are a full service nail salon

offering no chip manicures/pedicure, polish change, pedicure and waxing. A wide of variety of fresh, fun nail polish hues are

offered at this salon. Source. Agent generated profile

The recipe for Giordano’s now-famous stuffed pizza is one that has evolved over 200 years. Its creation began in a small north-

ern Italian town near Torino, Italy. Mama Giordano was famous around town for her exquisite cooking. Of all her renowned

dishes, her most beloved meal was her “Italian Easter Pie”. Mama Giordano would serve this double- crusted, cheese stuffed

masterpiece on special occasions. This pizza pie became a sacred tradition in the Giordano family and a legend in the town of

Torino. Source:www.giordanos.com 13

TENANT PROFILE

GENERAL INFORMATION

TENANT NAME ROCK PAPER SCISSORS SALON

WEBSITE WWW.RPSSALONALGONQUIN.COM



NUMBER OF LOCATIONS 1

ROCK PAPER SCISSORS SALON -At Rock Paper Scissors Salon, we offer an enjoyable experience for all of our guests. You will have more

good hair days after becoming our guest. Schedule an appointment for a quality haircut, color, treatment or ear piercing at our salon.

Source: www.rpssalonalgonquin.com

ROCK PAPER S C I S S O R S

SALON

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The Randall Road corridor is a regional shopping, dining, and entertainment corridor that is home to a variety of commercial centers, including lifestyle centers such as Algonquin Commons, the Algonquin Galleria, and the Esplanade, power centers like Woods Creek Commons, Oakridge Court, and River Pointe, as well as stand-alone big-box stores and small retail shops. The retail corridor also extends partially into nearby Lake in the Hills and Carpentersville. In addition to serving the needs of the local western Algonquin area, the corridor also functions as a major destination serving a vast region that includes McHenry County and Kane County.

LO C AT I O N O V E R V I E WAlgonquin is a dynamic, progressive community with beautiful neighborhoods

and vibrant commercial districts. Located northwest of Chicago, Algonquin is one

of the area’s premier suburbs with excellent schools, beautiful parks, and tree-

lined residential streets. Throughout its history, Algonquin has distinguished it-

self for its unique innovations and progressive planning to provide citizens with

some of the most effective municipal services in Illinois.

Algonquin is known as “The Gem of the Fox River Valley”, since its downtown

is nestled in the heart of Illinois’ Fox River Valley. Established in 1890 and long

known as a small river community, the village is making a transition into a major

regional hub, as it has experienced considerable suburban growth over the past

20 years.

Now stretching all the way west to the busy Randall Road corridor, Algonquin

has become a major commercial destination, with popular shopping centers

and restaurants, as well as a growing corporate campus. Additionally, the village

continues to see considerable residential growth. The population increased more

than 82 percent within one mile of the subject property from 2000 to 2010. Source: www.algonquin.org

D E M O G R A P H I C S H I G H L I G H T S

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HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 MilesTotal Average Household Retail Expenditure $91,684 $87,548 $83,103

Consumer Expenditure Top 10Categories

Housing $25,304 $24,268 $23,145

Shelter $15,579 $15,006 $14,301

Transportation $15,445 $14,610 $13,755

Food $10,196 $9,696 $9,141

Personal Insurance and Pensions $9,461 $8,812 $8,175

Health Care $5,825 $5,430 $5,180

Entertainment $5,381 $4,883 $4,473

Utilities $4,812 $4,609 $4,428

Apparel $2,943 $2,771 $2,570Household Furnishings and Equipment $2,294 $2,127 $1,998

POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age

2018 Estimate Total Population 5,553 54,734 151,284

Under 20 27.63% 28.64% 30.11%

20 to 34 Years 15.64% 16.27% 17.18%

35 to 39 Years 6.11% 6.96% 7.47%

40 to 49 Years 17.10% 16.74% 15.93%

50 to 64 Years 22.63% 21.33% 19.55%

Age 65+ 10.89% 10.07% 9.76%

Median Age 40.46 38.71 36.88

Population 25+ by Education Level

2018 Estimate Population Age 25+ 3,698 35,946 96,813

Elementary (0-8) 1.09% 1.47% 3.50%

Some High School (9-11) 3.13% 3.66% 5.05%

High School Graduate (12) 18.46% 22.41% 23.00%

Some College (13-15) 20.92% 22.88% 22.72%

Associate Degree Only 10.61% 10.47% 9.97%

Bachelors Degree Only 30.39% 25.81% 23.93%

Graduate Degree 15.10% 12.70% 10.99%

POPULATION 1 Miles 3 Miles 5 Miles 2023 Projection

Total Population 6,221 59,693 166,113

2018 Estimate


2010 Census


2000 Census


Current Daytime Population

2018 Estimate 6,062 37,809 108,900

HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2023 Projection

Total Households 2,233 20,751 55,344

2018 Estimate


Average (Mean) Household Size 2.89 2.94 3.03

2010 Census


2000 Census


Occupied Units

2023 Projection 2,233 20,751 55,344

2018 Estimate 2,070 19,836 52,587

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2018 Estimate

$150,000 or More 28.97% 21.28% 18.88%

$100,000 - $149,000 28.98% 27.58% 25.03%

$75,000 - $99,999 15.36% 18.09% 17.36%

$50,000 - $74,999 12.33% 14.25% 15.19%

$35,000 - $49,999 6.07% 8.45% 9.38%

Under $35,000 8.31% 10.35% 14.16%

Average Household Income $136,359 $120,614 $111,827

Median Household Income $111,245 $98,422 $91,183

Per Capita Income $48,238 $41,673 $36,983

EXCLUSIVELY LISTED BYBroker of Record: Steven WeinstockMarcus & Millichap One Mid-America Plaza, Suite 200Oakbrook Terrace, IL 60181T: (630) 570-2250F: (630) 570-2323License: IL [email protected]

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