1031 Exchange Opportunity

Transcription

1 1031 Exchange Opportunity Absolute Triple Net Winn-Dixie Supermarket 6730 Deerfoot Parkway in the Deerfoot Marketplace, Trussville (Birmingham), AL Property Summary: The Winn-Dixie property consists of a 45,860 square foot building on approximately 6.41 acres built in It It is is located in the Birmingham MSA, 10 miles northeast of the central business district in Trussville, which according to City Hall is is the 2 nd nd fastest growing city in Alabama (trussville.org). There is is an egress and ingress from both Deerfoot Pkwy and Old Springfield Road. The property contains a pharmacy, florist, deli, bakery, seafood and 1 hour photo. The immediate neighborhood includes community shopping centers, restaurants and service stations, as well as single family and multi-family residential developments. Claritas is is projecting a 14.7% population growth in within a 1 mile radius. Price and Cap: We offer this property at $6,095,000 which is is an 8.7% cap on annual rent of $530,000. Tenant: Winn-Dixie Stores, Inc. (NYSE:WIN). Founded in 1925, the company operates stores in the Southeastern US under the banners of Winn-Dixie, Winn-Dixie Marketplace, Winn-Dixie Liquor Store, SaveRite, Thriftway, Sack & Save and Pump and Save. Winn-Dixie has a competitive market share with prime locations in some of the most attractive regions of the U.S. with high population growth and density. In 2005 Winn Dixie Stores, Inc. filed for Chapter 11 reorganization to address financial and operational challenges. Lease Summary: NOI: $530,000 flat ($11.56 psf) Term: 20 Years (approximately 18 yrs. remaining) Expiration Date: 3/26/23 Options to Renew: Five (5) year options - flat through all the option periods Percentage Rent: The amount by which 1% of gross sales exceeds base rent. Lease Type: This is is a triple net lease. Tenant is is responsible for ALL repairs and replacements to the building and land and pays taxes and insurance directly. Demographics (2004 Estimate): 1 Mile 3 Miles 5 Miles Population 1,602 12,522 42,753 Average Household Income $101,432 $95,375 $78,989

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4 2002 Average Income By Block Group $75,000 or more $60,000 to $75,000 $45,000 to $60,000 $30,000 to $45,000 Less than $30,000 COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY COUNTY HIGHWAY HIGHWAY HIGHWAY HIGHWAY HIGHWAY HIGHWAY HIGHWAY HIGHWAY HIGHWAY Miles DDD Miles OLD SPRINGVILLE RD R STATE STATE STATE STATE STATE STATE STATE STATE STATE HWY HWY HWY HWY HWY HWY HWY HWY HWY Clay 1.00 Mile AVE 79 ACCESS RD STATE STATE STATE STATE STATE STATE STATE STATE STATE HWY HWY HWY HWY HWY HWY HWY HWY HWY Pinson Center Point SWEENEY HOLLOW RD DEWEY HEIGHTS RD DUG DUG DUG DUG DUG DUG DUG DUG DUG HOLLOW HOLLOW HOLLOW HOLLOW HOLLOW HOLLOW HOLLOW HOLLOW HOLLOW RD RD RD RD RD RD RD RD RD Chalkville Grayson Valley CLAY PALMERDALE RD OLD OLD OLD OLD SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE RD NE < LIMBAUGH LIMBAUGH LIMBAUGH LIMBAUGH LIMBAUGH LIMBAUGH LIMBAUGH LIMBAUGH LIMBAUGH LOOP LOOP LOOP LOOP LOOP LOOP LOOP LOOP LOOP Trussville MARGARET RD A 6TH ST E NGVILLE NGVILLE NGVILLE NGVILLE NGVILLE NGVILLE NGVILLE NGVILLE NGVILLE RD RD RD RD RD RD RD RD RD SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE SPRINGVILLE RD RD NE NE BREWSTER BREWSTER BREWSTER BREWSTER BREWSTER BREWSTER BREWSTER BREWSTER BREWSTER RD RD RD RD RD RD RD RD RD MAIN ST POPLAR ST RD RD RD RD RD RD KVILLE RD

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