the cash store - loopnet...technical institute (461+ students), weslaco high school (2,500+...

AREA RETAILERS

• Located on hard corner of a high traffic intersection just north of U.S. Hwy. 83 with exposure to 24,813 VPD on N. Texas Blvd.• Across from Walmart Supercenter

• Freestanding building• Great exposure and visibility • Signalized intersection• No landlord responsibilities

Sale Price: $1,395,000

Cap Rate: 8.0%

NOI: $111,655.80

For More Information:www.retailsolutions.us

The information contained herein was obtained from sources deemed reliable; however, Retail Solutions makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice. Retail Solutions, which provides real estate brokerage services, is a division of Reliance Retail, LLC, a Texas Limited liability company.

THE CASH STORE

David Simmonds - [email protected]

Tania Lingor, CCIM - [email protected]

The Cash StoreFOR SALE: SINGLE TENANT NET LEASED INVESTMENT

1602 N. Texas Blvd. | Weslaco, Texas 78596


Confidential Memorandum and DisclaimerPlease note that the use of this Offering Memorandum and the Information (“Information”) provided is subject to the terms, provisions and limitations of the confidentiality agreement which we have provided to you (“Buyer”) and requested an executed copy.

Brokerage Relationships: By taking possession of and reviewing the information contained herein, Buyer acknowledges that the Listing Team of Retail Solutions (“Brokers”) are acting as Seller’s Agent in the disposition assignment for the property. Buyer acknowledges receipt of the form entitled Information About Brokerage Services.

Non-disclosure of Information: By taking possession of and reviewing the Information contained herein, Buyer agrees not to disclose, permit the disclosure of, release, disseminate or transfer any of the Information obtained from Broker or the Property owner (“Owner”) to any other person or entity except as permitted herein. Buyer shall take all appropriate precautions to limit the dissemination of the Information only to those persons within the firm who need to know the Information. The phrase “within the firm” shall be deemed to include outside attorneys, accountants and investors.

Disclaimer and Waiver: By taking possession of and reviewing the Information contained herein, Buyer understands and acknowledges that neither Brokers nor Owner make any representations or warranty, expressed or implied, as to the accuracy or completeness of any Information provided. Neither the Broker or the Owner shall have any liability whatsoever for the accuracy or completeness of the Information contained herein or any other written or oral communication or Information transmitted or made available or any action taken or decision made by the Buyer with respect to the Property. Buyer understands and acknowledges that they should make their own investigations, projections and conclusions without reliance upon the Information contained herein. Buyer assumes full and complete responsibility for confirmation and verification of all information received and expressly waives all rights of recourse against Owner, Brokers and Retail Solutions.



Investment Summary Property Highlights

Property InformationProperty Address

Location

CountyGross Leasable Area

Lot SizeOccupancy

Year of ConstructionLease Type

1602 N. Texas Blvd. Weslaco, Texas 78596NEC of N. Texas Blvd. & E. Ballard St. in Weslaco, TXCameron2,070 SF2 tracts totaling 0.40 AC100%2005Absolute NNN

Price

NOICap Rate

Terms

$1,395,000$111,655.80*8.0% Cash to Seller

• Zero Landlord Responsibilities!

• 15 year term that was recently extended through option to 2023.

• Options Remaining: Two (5) year terms with 12% increases with each option

• Building: 2,070 SF improvement with drive thru. It is constructed with stucco exterior, a concrete foundation and concrete parking lot.

• Tenant: Cottonwood Financial Texas, LLC dba The Cash Store

• Located at a signalized intersection across from a Walmart Supercenter reportedly grossing over $94 million in annual sales.**

• Traffic Counts: - 24,813 VPD on N. Texas Blvd. (TXDOT 2015) - 104,407 VPD on U.S. Hwy. 83 (TXDOT 2015)

**Source: 2016 Nielsen TDLinx, combined with another reliable source.

*based on 8/2018 Option rate. Seller has agreed to credit rent difference between current NOI of $99,691.20 and the rate on August 1, 2018 at time of closing.

aerial photography provided by videalty.com



Lease Abstract


Building Size: 2,070 SF

DBA: The Cash Store

Tenant: Cottonwood Financial Texas, LLC

Expenses: Tenant pays 100% of all CAM charges, Taxes and Insurance

Period Annual Base Rent Monthly Base Rent PSF Base Rent Start Date End Date

Year 1-5 89,010.00 7,417.50 43.00 5/7/2008 7/31/2013

Year 6-10 99,691.20 8,307.60 48.16 8/1/2013 7/31/2018

Year 11-15 111,655.80 9,304.65 53.94 8/1/2018 7/31/2023

Option #2 125,048.70 10,420.73 60.41 8/1/2023 7/31/2028

Option #3 140,056.20 11,671.35 67.66 8/1/2028 7/31/2033

Options are both 5 years each







Tenant Information

Trusted provider of cash loans since 1996, they operate over 340 stores across Idaho, Illinois, Michigan, New Mexico, Texas, Utah and Wisconsin.

The Cash Store is a trustworthy lending source providing competitive fees and convenient hours. For close to 20 years, the Cash Store has provided emergency cash loans to help customers finance unexpected expenses. The Cash Store has a long history as a reputable personal lending company, where qualified customers can get their cash advance approved quickly with no credit history or credit score.

Source: www.thecashstore.com





Photos

Major box tenant driving traffic counts

Academy joins Walmart and other anchors for destination shopping stops

Big Box anchors next to Walmart include TJ Maxx & Petco

Jack in the Box at intersection of N. Texas Blvd. & Ballard St.







Survey







Site Plan Aerial








Close-up Aerial








Retail Aerial







• Property is located at 1602 N. Texas Blvd at the NE corner of Ballard St. and N. Texas Blvd.

• The property is at a signalized, four-way intersection, with traffic counts exceeding 24,813 VPD.

• The property has direct access back to U.S. Hwy. 83, which is the main highway between McAllen and Brownsville.

• Traffic counts exceed 104,407 VPD on U.S. Hwy. 83.

• N. Texas Blvd. and Ballard St. are two principal access points into the retail destination for shopping that includes Walmart, Academy Sports and Outdoors and Lowes Home Improvement.

• Valley Crossing Shopping Center, a 178,618-square foot, regional shopping center, is across the street and anchored by TJ Maxx, JC Penney and Petco.

• Other major retailers near the site include HEB, BigLots, Sears and more.

• The site is less than three miles from Mid Valley Airport and features numerous schools within a five-mile radius, including South Texas Vocational Technical Institute (461+ Students), Weslaco High School (2,500+ Students), Mid Valley Campus of South Texas College (34,000+ Students), Donna High School (1,900+ Students) and more.

• The site features over 106,000 people residing within a five mile radius and a population growth of 32.0% since 2000.

Location Information









Household Average Incomes (5,10,15 min)

5 min 10 min 15 min

Household Average Incomes (5,10,15 min)

5 min 10 min 15 min

Trade Area - Average Household Incomes (5,10,15 min)




Trade Area (drive time: 5-10-15 minutes) Trade Area - Average Household Incomes (5,10,15 min)


Tapestry Segmentation

Rank Tapestry Segment 2016 Household Percent

2016 Household Cumulative Percent

1 Southwestern Families 58.7% 58.7%

2 Barrios Urbanos 34.1% 92.8%

3 Senior Escapes 5.8% 98.6%







Location Map







Demographics

Gadberry Group LLCUpdated Summary Report11/21/2016 1:20:13 PMFor: 1602 Texas Boulevard North Weslaco, Texas, 78596

Longitude: -97.99063760Latitude: 26.176108

1 mi R ing

3 mi R ing

5 mi R ing

7 mi R ing

Population Trend2000 Total Population 9,260 42,222 81,019 111,8142010 Total Population 9,910 50,937 97,706 139,8102016 Total Population 10,630 56,011 106,966 152,6942021 Total Population 10,974 59,378 113,355 162,041

Households Trend2000 Total Households 2,469 12,284 22,274 30,2622010 Total Households 2,835 15,021 27,319 38,1492016 Total Households 2,884 15,529 28,195 39,3532021 Total Households 2,989 16,559 30,061 42,021

Population Change Trend2000 to 2010 Population Change 7.0% 20.6% 20.6% 25.0%2000 to 2016 Population Change 14.8% 32.7% 32.0% 36.6%2010 to 2021 Population Change 10.7% 16.6% 16.0% 15.9%2016 to 2021 Population Change 3.2% 6.0% 6.0% 6.1%

Household Change Trend2000 to 2010 Household Change 14.8% 22.3% 22.6% 26.1%2000 to 2016 Household Change 16.8% 26.4% 26.6% 30.0%2010 to 2021 Household Change 5.4% 10.2% 10.0% 10.1%2016 to 2021 Household Change 3.6% 6.6% 6.6% 6.8%

2016 RaceWhite alone 82.6% 85.4% 85.4% 85.0%Black or African American alone .9% .7% .6% .5%American Indian and Alaska Native alone .7% .6% .5% .4%Asian alone .7% .8% .5% .4%Native Hawaiian and OPI alone .0% .0% .0% .0%Some Other Race alone 12.8% 10.6% 11.1% 11.7%Two or More Races 2.3% 1.9% 1.9% 2.0%

2016 IncomePer Capita Income $11,249 $13,324 $11,544 $11,161Household Income: Median $27,546 $36,455 $32,005 $31,647Household Income: Average $41,165 $47,475 $43,508 $42,970

Average household size 3.7 3.6 3.8 3.9

Total Daytime Population 14,301 59,935 103,922 140,494Total Employee Population 7,304 22,602 31,646 37,424Total Daytime at Home Population 6,997 37,333 72,276 103,070Total Employee Population (% of Daytime Population) 51.1% 37.7% 30.5% 26.6%Total Daytime at Home Population (% of Daytime Population) 48.9% 62.3% 69.5% 73.4%

Page 1 of 1






David Simmonds | Principal & Founder

Tania Lingor, CCIM | Broker Associate - Investment Sales

[email protected]

[email protected]

David Simmonds founded Retail Solutions in January of 2009. Prior to, he was a Senior Vice President with the Austin Commercial Retail Division of The Weitzman Group from 2000-2008. He was consistently a statewide top producer for Weitzman, where, during his tenure there – he was involved in the closing of over 1,100 deals in 8.5 years!With Retail Solutions, Mr. Simmonds has built a statewide platform with offices in DFW, Houston, Austin, San Antonio, McAllen, Laredo, and Midland, with over 600 listings and the exclusive representation of over 135 national and regional retailers and restaurateurs.Mr. Simmonds, himself, exclusively represents la Madeleine, Pier 1 Imports, Freebirds, Einstein Bros Bagels, and Pie Five Pizza.David is a member of the International Council of Shopping Centers (ICSC) and received a Bachelor of Arts degree in Economics from Columbia College in New York City.

Tania Lingor, CCIM, is a member of the Retail Solutions Investment Sales Division, assisting clients with the disposition and acquisition of retail properties throughout Texas. Prior to Retail Solutions, Tania worked at firms including Sperry Van Ness, Cencor Realty Services and at her family’s commercial real estate business, where she began in commercial real estate in 1998. She has managed over 2,000,000 square feet of retail, office and industrial space, represented tenants and landlords in more than 180 lease and sales transactions, and was involved in the development of a self storage facility in downtown Austin, where she oversaw the management team. This diverse background and experience give her an edge in negotiations and understanding of her clients’ financial challenges.Tania is a graduate of Sam Houston State University and is an active member of the Austin Board of Realtors, the Central Texas CCIM Chapter, Commercial Real Estate Women (CREW), and the International Council of Shopping Centers (ICSC), and is a licensed real estate broker in the State of Texas.Once a barrel racer in the Women’s Professional Rodeo Association, Tania has sold her horses and now owns a boat and enjoys fishing bass tournaments, golfing and, most importantly, spending time with her husband, Mike, and their children and grandchildren.

Listing Team



CLOSING PROCESS

This period can cause much anxiety due to poor or non-existent communication, a changing in market conditions and possibly seller and/or lender attitudes. Retail Solutions will work to ensure that all time frames are met, that all third party due diligence has been delivered and that all issues have been resolved so that our clients can feel confident that their interests are being watched, and that the seller understands the expectations accordingly. Retail Solutions will coordinate all events during the contract negotiations and the actual closing of the transaction.

Advisory Services for sale-leasebacks, asset recapitalization and strategies

Broker Opinion of Value

Marketplace Research for your specific analysis

Financing needs including refinancing and development loans

JOHN FREESEPrincipal - Investment Sales

AUSTIN3724 Executive Center DriveSuite 220Austin, TX 78731

LAREDO6262 McPhersonSuite 206Laredo, TX 78041

MIDLAND4607 Pine Meadow DriveSuite 2Midland, TX 79705

SAN ANTONIO8610 BroadwaySuite 280San Antonio, TX 78217

MCALLEN200 S 10th StreetSuite 1303McAllen, TX 78501

DALLAS13601 Preston RoadSuite W600Dallas, TX 75240

HOUSTON5225 Katy FreewaySuite 625AHouston, TX 77007

[email protected]

AUSTIN DALLAS HOUSTON SAN ANTONIO SOUTH TEXAS WEST TEXAS

Investment Sales involves much more than buying or selling property; it is also providing key integrated services, paired with our disposition and acquisition processes. Key services available through our Investment Sales Division include:

OTHER SERVICES

CONTACT US

FOR MORE INFORMATION, PLEASE VISIT:

www.retailsolutions.us

CLOSING PROCESS














[email protected]



OTHER SERVICES

CONTACT US



CLOSING PROCESS














[email protected]



OTHER SERVICES

CONTACT US




AUSTIN3724 Executive Center DriveSuite 220Austin, Texas 78731

DALLAS13601 Preston RoadSuite E1070Dallas, Texas 75240

HOUSTON5225 Katy FreewaySuite 625AHouston, Texas 77007

SAN ANTONIO8610 BroadwaySuite 280San Antonio, Texas 78217

MCALLEN200 S 10th StreetSuite 1303McAllen, Texas 78501

MIDLAND4607 Pine Meadow DriveSuite 2Midland, Texas 79705

LOUISIANA214 E NezpiqueJennings, Louisiana 70546

CONTACT US

FOR MORE INFORMATION, PLEASE VISIT:www.retailsolutions.us

David SimmondsPrincipal & Founder

Tania Lingor, CCIMBroker AssociateInvestment Sales

[email protected]

[email protected]



11-2-2015

Information About Brokerage ServicesTexas law requires all real estate license holders to give the following informaƟon about

brokerage services to prospecƟve buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: .• A BROKER is responsible for all brokerage acƟviƟes, including acts performed by sales agents sponsored by the broker.• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests;• Inform the client of any material informaƟon about the property or transacƟon received by the broker;• Answer the client’s quesƟons and present any offer to or counter-offer from the client; and• Treat all parƟes to a real estate transacƟon honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wriƩen lisƟng to sell or property management agreement. An owner's agent must perform the broker’s minimum duƟes above and must inform the owner of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wriƩen representaƟon agreement. A buyer's agent must perform the broker’s minimum duƟes above and must inform the buyer of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parƟes the broker must first obtain the wriƩen agreement of each party to the transacƟon. The wriƩen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaƟons as an intermediary. A broker who acts as an intermediary:

• Must treat all parƟes to the transacƟon imparƟally and fairly;• May, with the parƟes' wriƩen consent, appoint a different license holder associated with the broker to each party (owner and

buyer) to communicate with, provide opinions and advice to, and carry out the instrucƟons of each party to the transacƟon.• Must not, unless specifically authorized in wriƟng to do so by the party, disclose:

ᴑ that the owner will accept a price less than the wriƩen asking price;ᴑ that the buyer/tenant will pay a price greater than the price submiƩed in a wriƩen offer; andᴑ any confidenƟal informaƟon or any other informaƟon that a party specifically instructs the broker in wriƟng not to

disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transacƟon without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duƟes and responsibiliƟes to you, and your obligaƟons under the representaƟon agreement.• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This noƟce is being provided for informaƟon purposes. It does not create an obligaƟon for you to use the broker’s services. Please acknowledge receipt of this noƟce below and retain a copy for your records.

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

License No. Email Phone


Licensed Supervisor of Sales Agent/Associate


Sales Agent/Associate’s Name License No. Email Phone

Regulated by the Texas Real Estate Commission

Buyer/Tenant/Seller/Landlord Initials

InformaƟon available at www.trec.texas.gov IABS 1-0

Date

Reliance Retail LLC OR Texas RS LLC dba "Retail Solutions " 603091 OR 9003193 [email protected] 512-474-5557

David J. Simmonds OR David Russell Burggraaf

Designated Broker of Firm

459263 OR 395427 [email protected] 512-474-5557

David J. Simmonds OR David Russell Burggraaf 459263 OR 395427 [email protected] 512-474-5557

the cash store - loopnet...technical institute (461+ students), weslaco high school (2,500+...

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