*recommended dimensions: 6” x 4” (horizontal version), 200 DPI or higher *recommended dimensions: 6” x 4” (horizontal version), 200 DPI or higher Steve Broker Steve Broker John Agent John Agent Executive Vice President Investments First Vice President Investments Vice President Investments Vice President Investments Palo Alto Office Sacramento/Reno Office Palo Alto Office Palo Alto Office Tel: (650) 391-1774 Tel: (916) 724-1400 Tel: (650) 391-1796 Tel: (650) 391-1797 Fax: (650) 391-1715 Fax: (916) 724-1410 Fax: (650) 391-1715 Fax: (650) 391-1715 [email protected][email protected][email protected][email protected]License: CA 01234567 License: CA 01234567 NV 01234 License: CA 01234567 License: CA 01234567 PRESENTED BY PRESENTED BY DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET 1502 E Van Buren St • Phoenix, AZ 85006 OFFERING MEMORANDUM Douglas R. Fielding, Jr. Associate Phoenix Office Tel: (602) 687-6765 Fax: (602) 687-6722 [email protected]License: AZ SA647849000
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*recommended dimensions: 6” x 4” (horizontal version), 200 DPI or higher
*recommended dimensions: 6” x 4” (horizontal version),
200 DPI or higher
Steve Broker Steve Broker John Agent John AgentExecutive Vice President Investments First Vice President Investments Vice President Investments Vice President InvestmentsPalo Alto Office Sacramento/Reno Office Palo Alto Office Palo Alto OfficeTel: (650) 391-1774 Tel: (916) 724-1400 Tel: (650) 391-1796 Tel: (650) 391-1797Fax: (650) 391-1715 Fax: (916) 724-1410 Fax: (650) 391-1715 Fax: (650) [email protected][email protected][email protected][email protected]: CA 01234567 License: CA 01234567
NV 01234License: CA 01234567 License: CA 01234567
P R E S E N T E D B YP R E S E N T E D B Y
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
1502 E Van Buren St • Phoenix, AZ 85006
OFFERING MEMORANDUM
Douglas R. Fielding, Jr.AssociatePhoenix OfficeTel: (602) 687-6765Fax: (602) [email protected]: AZ SA647849000
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-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation'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 or subsidiaries, or any agent, product, service, or commercial 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.
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKETPhoenix, AZACT ID Z0070214
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DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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INVESTMENT
OVERVIEW
OFFERING SUMMARY
Price $110,000
Down Payment 100% / $110,000
Loan Type All Cash
Lot Size (SF) 6,665
Price/SF $16.50
Lot Size (Acres) 0.15 acre(s)
Price/Acre $718,920
Price/Unit $0
Density 14.5
Allowable Buildable SF 3,325
Number of Lots 1
Price/Lot $110,000
Type of Ownership Fee Simple
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EXECUTIVE SUMMARY
OFFERING SUMMARY
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ASSET PERFORMANCE DATA
CURRENT
CAP Rate 0.0%
Net Operating Income $0
Net Cash Flow 0.00% / $0
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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OFFERING SUMMARY
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES *
Freeport-Mcmoran Miami Inc 10,530
Astraco LLC 6,500
Associated Insur Co For Excess 5,003
Central Valley Insulation 4,772
Arizona Department Trnsp 4,700
Police Department 4,661
Communication and Cmnty Partnr 4,500
City of Phoenix 3,750
Parks and Recreation Dept 3,663
Viads Mktg & Events Group 3,054
Cyprus Climax Metals Company 2,930
Human Services Department 2,897
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2017 Estimate Pop 15,937 118,096 350,767
2010 Census Pop 13,972 106,017 317,171
2017 Estimate HH 5,081 39,809 123,355
2010 Census HH 4,568 36,751 114,247
Median HH Income $18,574 $31,165 $34,714
Per Capita Income $11,010 $17,490 $19,414
Average HH Income $31,329 $48,981 $53,425
* # of Employees based on 5 mile radius
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
OFFERING SUMMARY
§ Busy Downtown Phoenix Van Buren Automotive Corridor Location.
§ Across from James Beard Award-Winning Chef Chris Bianco's Roland's Cafe
Market Bar.
§ Hard Corner Exposure.
§ Nearby Access to All Freeways.
§ C-3 Zoning, Many Types of Businesses Would Do Well in This Location.
§ Motivated Seller, Bring All Offers.
INVESTMENT HIGHLIGHTS
Marcus & Millichap is pleased to present the opportunity to acquire a vacant commercial infill land parcel in the heart of Phoenix, Arizona. The commercially zoned hard-
corner lot is located in the downtown area on East Van Buren Street, a major arterial thoroughfare connecting Downtown Phoenix to the 44th Street/Gateway corridor and
the City of Tempe to the east. Van Buren Street is the downtown areas primary automotive corridor, a popular used automobile trade area that features many used car
dealerships and auto repair businesses. The well-exposed hard corner has 50 feet of frontage along East Van Buren Street (16,703 VPD) and 133 feet of frontage along
North 15th Street. The site benefits from significant redevelopment opportunity and activity in the immediate vicinity. James Beard Award Winning Chef Chris Bianco's
new Roland's Cafe Market Bar, an adaptive reuse of a historical building, is across the street.
Centrally situated on what was once the most traveled street in Phoenix, the location provides immediate proximity to major employers, business centers, government
offices and top-quality civic, sports, cultural and entertainment venues. In addition, the area is very walkable. The property is within walking distance of every Walkable
Urban amenity in a vibrant downtown that includes prominent university campuses such as the new University of Arizona College of Medicine, hospital campuses like St.
Lukes Medical Center, and boasts a variety of hotels, restaurants
and other popular establishments. These immensely positive attributes of the locale are supporting revitalization measures along East Van Buren Street, encouraging
private and public efforts to identify redevelopment opportunities in the immediate area. Rising development standards and plans for higher density and intensity of land
use surrounding the site are influencing change and stabilization in what was once a problematic area. This high-transition area is being impacted by the explosive
economic growth of Phoenix' s downtown corridor and the city's planned rejuvenation of it's historic Van Buren Street.
INVESTMENT OVERVIEW
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DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
PROPERTY SUMMARY
OFFERING SUMMARY
THE OFFERING
Property Downtown Phoenix C-3 Zoned Hard Corner Lot Across From Roland's Market
Price $110,000
Property Address 1502 E Van Buren St, Phoenix, AZ
Assessors Parcel Number 116-18-027
Zoning C-3
General Plan Commercial, Eastlake-Garfield Transit-Oriented Development District
Lot Size Dimensions 50' x 133'
SITE DESCRIPTION
Lot Size (SF) 6,650
Price/SF $16.54
Lot Size (Acres) 0.153
Price/Acre $718,954
Allowable Buildable SF 3,350
Number of Lots 1
Type of Ownership Fee Simple
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#
LOCATION OVERVIEW
CLOSE PROXIMITY TO:
1502 E Van Buren St, Phoenix, AZ 85006
LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEDOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
PRICING AND VALUATION MATRIX
PROPERTY NAME
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
LOCATION OVERVIEW
7
REGIONAL MAP
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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LOCAL MAP
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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AERIAL PHOTO
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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PROPERTY PHOTO
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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PROPERTY PHOTO
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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PARCEL MAP
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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FINANCIAL
ANALYSIS
FINANCIAL ANALYSIS
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
PROPERTY SUMMARY
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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 to the benefit of our clients.
National platform operating
within the firm’s brokerage offices
$5.63 billion total national
volume in 2017
Access to more capital sources than any other firm in the industry
Optimum financing solutions to enhance value
Our ability to enhance buyer pool by expanding finance options
Our ability to enhance seller control
• Through buyer qualification support
• Our ability to manage buyers finance expectations
• Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings
• By relying on a world class set of debt/equity sources and presenting a tightly underwritten credit file
WHY MMCC?
Closed 1,707 debt and equity
financings in 2017
ACQUISITION FINANCING
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
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MARKET
OVERVIEW
MARKET OVERVIEW
PHOENIXOVERVIEW
1
The Phoenix metro is often referred to as the Valley of the Sun and consists of Maricopa and Pinal counties. The region is hemmed in by mountains to the north and east. American Indian reservations to the east and south limit development in those directions, leaving the southeastern corridor and western half of the metro as the primary growth areas. The most populous city is Phoenix, which encompasses about 520 square miles, is the capital city and boasts a population of nearly 1.6 million. Interstate 10 is a major trucking route directly connecting the region to Southern California, which is supporting a growing distribution industry. Various rail and air lines connect the metro to cities around the world.
MARKET OVERVIEW
METRO HIGHLIGHTS
EMPLOYMENT GROWTHJob gains will increase faster than the national rate during the next five years, drawing new residents to the metro.
HIGH-TECH MANUFACTURING BASEIntel Corp., Motorola Inc., Honeywell and others have large Phoenix operations, attracting additional companies serving these corporations.
ACTIVE TOURISM INDUSTRYWarm winters and amenities including golf courses and resorts draw vacationers.
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
MARKET OVERVIEW
ECONOMY§ Phoenix claims multiple Fortune 500 headquarters, including Freeport-McMoRan, Republic
Services, Insight Enterprises and Avnet.§ The construction, high-tech manufacturing, healthcare and tourism industries dominate the
Phoenix economy.§ Healthcare is a critical industry, with around 20 hospitals and the UA medical school located in
the metro. Also, the Mayo Clinic has added multiple facilities located throughout the Valley.
MAJOR AREA EMPLOYERS
Banner Health
JPMorgan Chase & Co.
Arizona State University
Wells Fargo
Intel Corp.
Mayo Clinic Hospital
Arizona Public Service
American Airlines
Bank of America
American Express* Forecast
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DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
HEALTH SERVICESEDUCATION AND
AND UTILITIESTRADE, TRANSPORTATION
+19%
SHARE OF 2017 TOTAL EMPLOYMENT
MANUFACTURING6%
GOVERNMENT
OTHER SERVICES 3%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
CONSTRUCTION
PROFESSIONAL ANDBUSINESS SERVICES
2%INFORMATION
17%
6%
12% 11% 9%
15%
MARKET OVERVIEW
DEMOGRAPHICS
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
§ The metro is expected to add almost 455,000 people over the next five years, resulting in the formation of more than 200,000 households.
§ A median home price of nearly $255,000 allows 62 percent of households to own a home, which is slightly below the national homeownership rate.
§ Roughly 29 percent of people age 25 and older hold bachelor’s degrees and 10 percent also obtained a graduate or professional degree.
Phoenix offers a lower cost of living than other metros its size, a moderate climate and a
variety of recreational and cultural options. In addition to outdoor activities, sports
enthusiasts can enjoy one of the most complete lineups of major-league teams found in
any city, including teams in all four major sports. The Cactus League holds spring training
baseball throughout the Valley, and the area has numerous golf courses and tennis courts.
Phoenix is home to the world-famous Heard Museum and Frank Lloyd Wright’s Taliesin
West. Music venues include Phoenix Symphony Hall and the Orpheum Theatre. Higher-
education institutions include Arizona State University, Grand Canyon University and
community colleges.
QUALITY OF LIFE
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* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
36.42017
MEDIAN AGE:
U.S. Median:
37.8
$55,900 2017 MEDIAN
HOUSEHOLD INCOME:
U.S. Median:
$56,300
4.7M2017
POPULATION:
Growth2017-2022*:
9.7%
1.7M2017
HOUSEHOLDS:
11.8%
Growth2017-2022*:
2017 Population by Age
0-4 YEARS
6%5-19 YEARS
21%20-24 YEARS
7%25-44 YEARS
27%45-64 YEARS
24%65+ YEARS
15%
PROPERTY NAME
MARKETING TEAM
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
POPULATION PROFILE 1 Miles 3 Miles 5 Miles§ Population by Age
0 to 4 Years 9.23% 8.03% 7.83%
5 to 14 Years 16.65% 14.38% 14.23%
15 to 17 Years 4.56% 4.18% 4.03%
18 to 19 Years 2.49% 3.60% 2.97%
20 to 24 Years 7.70% 8.89% 8.54%
25 to 29 Years 9.43% 8.73% 9.11%
30 to 34 Years 8.44% 8.09% 8.66%
35 to 39 Years 7.23% 7.10% 7.30%
40 to 49 Years 13.15% 13.36% 13.05%
50 to 59 Years 10.61% 11.71% 11.47%
60 to 64 Years 3.46% 3.99% 4.02%
65 to 69 Years 2.35% 2.66% 2.92%
70 to 74 Years 1.88% 2.04% 2.18%
75 to 79 Years 1.33% 1.41% 1.46%
80 to 84 Years 0.80% 0.91% 1.06%
Age 85+ 0.70% 0.91% 1.16%
Median Age 29.97 31.31 31.84
POPULATION PROFILE 1 Miles 3 Miles 5 Miles§ Population 25+ by Education Level
2017 Estimate Population Age 25+ 9,463 71,953 218,863
Elementary (0-8) 21.85% 15.86% 13.08%
Some High School (9-11) 15.72% 13.38% 12.30%
High School Graduate (12) 27.57% 25.28% 25.11%
Some College (13-15) 14.32% 18.48% 19.96%
Associate Degree Only 3.94% 4.51% 5.42%
Bachelors Degree Only 7.80% 12.17% 14.14%
Graduate Degree 4.42% 7.48% 7.44%
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IncomeIn 2017, the median household income for your selected geography is $18,574, compare this to the US average which is currently $56,286. The median household income for your area has changed by 5.79% since 2000. It is estimated that the median household income in your area will be $20,588 five years from now, which represents a change of 10.84% from the current year. The current year per capita income in your area is $11,010, compare this to the US average, which is $30,982. The current year average household income in your area is $31,329, compare this to the US average which is $81,217.
PopulationIn 2017, the population in your selected geography is 15,937. The population has changed by -6.79% since 2000. It is estimated that the population in your area will be 15,298.00 five years from now, which represents a change of -4.01% from the current year. The current population is 52.97% male and 47.03% female. The median age of the population in your area is 29.97, compare this to the US average which is 37.83. The population density in your area is 5,072.81 people per square mile.
HouseholdsThere are currently 5,081 households in your selected geography. The number of households has changed by 8.22% since 2000. It is estimated that the number of households in your area will be 5,170 five years from now, which represents a change of 1.75% from the current year. The average household size in your area is 2.85 persons.
EmploymentIn 2017, there are 15,064 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 22.98% of employees are employed in white-collar occupations in this geography, and 77.32% are employed in blue-collar occupations. In 2017, unemployment in this area is 6.66%. In 2000, the average time traveled to work was 25.00 minutes.
Race and EthnicityThe current year racial makeup of your selected area is as follows: 46.99% White, 9.18% Black, 0.08% Native American and 1.22% Asian/Pacific Islander. Compare these to US averages which are: 70.42% White, 12.85% Black, 0.19% Native American and 5.53% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 72.78% of the current year population in your selected area. Compare this to the US average of 17.88%.
PROPERTY NAME
MARKETING TEAM
DOWNTOWN PHOENIX C-3 ZONED HARD CORNER LOT ACROSS FROM ROLAND'S MARKET
HousingThe median housing value in your area was $98,192 in 2017, compare this to the US average of $193,953. In 2000, there were 1,261 owner occupied housing units in your area and there were 3,434 renter occupied housing units in your area. The median rent at the time was $349.