Retail Investment Opportunity CONTACT: Chris Nachtrab chris.nachtrab@everestrealestate.com 513/769-2509 John Thompson john.thompson@everestrealestate.com 513/769-2514 Ivy Hills Retail Center 7397 Main Street Newtown, OH 45244 EVEREST Office Industrial Retail Investment 9912 Carver Road, Suite 100 Cincinnati, OH 45242 TEL: 513-769-2500 www.everestrealestate.com
TABLE OF CONTENTS Section Section Section Section 1 2 3 4... Investment Summary & Overview... Pricing and Financial Analysis - Financial Summary - Income - Expenses... Property Description - Property Photos - Site Plan - Aerial Photos... Demographics Profiles - Trade Area Map - Demographics
Investment & Expenses Ivy Hills Retail Center Income Annual PSF Schedule Rent 1* $ 220,296 $11.11 Expense Recapture *2 Real Estate Taxes $ 35,185 $1.77 Insurance $ 3,668 $0.18 CAM $ 19,160 $0.97 Total Expense Recapture $ 58,013 $2.93 Gross Potential Income $ 278,309 $14.02 *1 Based on projected 2010 income Expenses Annual PSF Real Estate Taxes $37,819 $1.91 Insurance $3,943 $0.20 CAM $20,592 $1.04 Total Expense $62,354 $3.14 Net Operating Income (NOI)* $215,955 $10.35 9% CAP Rate Return - Price $2,399,500 Chris Nachtrab John Thompson Successful Real Estate Solutions! chris.nachtrab@everestrealestate.com 513/769-2509 513/769-2514 john.thompson@everestrealestate.com
Retail Shopping Center For Sale Investment Cincinnati, OH PRICE REDUCED! FEATURES 19,829 Total SF on 4 Acres 100% occupied Great neighborhood center Very stable existing tenants Excellent tenant mix High income growing neighborhood Strong Demographics Includes 1/3 acre for future development Solid 9% CAP Rate Return Sale price: $2,399,500 The Ivy Hills Retail Center provides the opportunity to own a stable neighborhood shopping center with an above market return. The excellent tenant mix and lack of competition makes for a secure investment. The below market rents and available outlot allow for future increased returns. This is terrific property that will compliment any investors portfolio. LOCATION Ivy Hills Retail Center 7397 Main Street Newtown, Ohio 45244 CONTACT John Thompson john.thompson@everestrealestate.com 513/769-2514 Demographics: 1-Mile 3-Mile 5-Mile Total Population: 2,653 41,815 140,402 Total Households: 1,018 16,612 59,582 Avg. HH Income: $163,007 $109,273 $95,356 Chris Nachtrab chris.nachtrab@everestrealestate.com 513/769-2509 Traffic Counts: State Route 32 West of Round Bottom Road = 22,050 ADT 2002 State Route 32 East of Little Dry Run Road = 20,250 ADT 2002 The information submitted is not guaranteed. Although obtained from reliable sources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice.
Executive Summary Prepared By: The Everest Group/TCN Worldwide 7397 Main St 7397 Main St 7397 Main St Cincinnati, OH 45244 Cincinnati, OH 45244 Cincinnati, OH 45244 Site Type: Radius Radius: 1.0 mile Radius: 3.0 mile Radius: 5.0 mile 2008 Population Total Population 2,653 41,815 140,402 Male Population 49.2% 48.1% 47.6% Female Population 50.8% 51.9% 52.4% Median Age 40.8 39.0 39.2 2008 Income Median HH Income $98,935 $74,118 $66,090 Per Capita Income $58,048 $43,369 $40,598 Average HH Income $163,007 $109,273 $95,356 2008 Households Total Households 1,018 16,612 59,582 Average Household Size 2.61 2.51 2.33 1990-2000 Annual Rate 3.25% 1.25% 0.88% 2008 Housing Owner Occupied Housing Units 78.3% 70.3% 64.5% Renter Occupied Housing Units 14.3% 23.4% 28.3% Vacant Housing Units 7.5% 6.3% 7.2% Population 1990 Population 1,964 38,209 135,850 2000 Population 2,534 41,773 140,973 2008 Population 2,653 41,815 140,402 2013 Population 2,631 41,752 140,459 1990-2000 Annual Rate 2.58% 0.9% 0.37% 2000-2008 Annual Rate 0.56% 0.01% -0.05% 2008-2013 Annual Rate -0.17% -0.03% 0.01% In the identified market area, the current year population is 140,402. In 2000, the Census count in the market area was 140,973. The rate of change since 2000 was -0.05 percent annually. The five-year projection for the population in the market area is 140,459, representing a change of 0.01 percent annually from 2008 to 2013. Currently, the population is 47.6 percent male and 52.4 percent female. Households 1990 Households 690 14,400 53,834 2000 Households 950 16,303 58,756 2008 Households 1,018 16,612 59,582 2013 Households 1,018 16,715 60,042 1990-2000 Annual Rate 3.25% 1.25% 0.88% 2000-2008 Annual Rate 0.84% 0.23% 0.17% 2008-2013 Annual Rate 0% 0.12% 0.15% The household count in this market area has changed from 58,756 in 2000 to 59,582 in the current year, a change of 0.17 percent annually. The five-year projection of households is 60,042, a change of 0.15 percent annually from the current year total. Average household size is currently 2.33, compared to 2.38 in the year 2000. The number of families in the current year is 36,633 in the market area. Housing Currently, 64.5 percent of the 64,180 housing units in the market area are owner occupied; 28.3 percent, renter occupied; and 7.2 percent are vacant. In 2000, there were 61,630 housing units 65.7 percent owner occupied, 29.6 percent renter occupied and 4.7 percent vacant. The rate of change in housing units since 2000 is 0.49 percent. Median home value in the market area is $164,801, compared to a median home value of $192,285 for the U.S. In five years, median home value is projected to change by 0.78 percent annually to $171,351. From 2000 to the current year, median home value changed by 2.18 percent annually. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013. ESRI converted 1990 Census data into 2000 geography. 2008 ESRI On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224 4/02/2009 Page 1 of 2
Executive Summary Prepared By: The Everest Group/TCN Worldwide 7397 Main St 7397 Main St 7397 Main St Cincinnati, OH 45244 Cincinnati, OH 45244 Cincinnati, OH 45244 Site Type: Radius Radius: 1.0 mile Radius: 3.0 mile Radius: 5.0 mile Median Household Income 1990 Median HH Income $47,143 $40,070 $36,520 2000 Median HH Income $70,378 $55,973 $51,783 2008 Median HH Income $98,935 $74,118 $66,090 2013 Median HH Income $115,813 $80,882 $74,412 1990-2000 Annual Rate 4.09% 3.4% 3.55% 2000-2008 Annual Rate 4.21% 3.46% 3% 2008-2013 Annual Rate 3.2% 1.76% 2.4% Per Capita Income 1990 Per Capita Income $18,848 $20,093 $19,888 2000 Per Capita Income $39,690 $32,120 $31,086 2008 Per Capita Income $58,048 $43,369 $40,598 2013 Per Capita Income $76,324 $53,895 $48,900 1990-2000 Annual Rate 7.73% 4.8% 4.57% 2000-2008 Annual Rate 4.72% 3.71% 3.29% 2008-2013 Annual Rate 5.63% 4.44% 3.79% Average Household Income 1990 Average Household Income $58,172 $53,614 $50,189 2000 Average Household Income $114,557 $82,309 $74,046 2008 Average HH Income $163,007 $109,273 $95,356 2013 Average HH Income $212,699 $134,788 $114,036 1990-2000 Annual Rate 7.01% 4.38% 3.97% 2000-2008 Annual Rate 4.37% 3.49% 3.11% 2008-2013 Annual Rate 5.47% 4.29% 3.64% Households by Income Current median household income is $66,090 in the market area, compared to $53,154 for all U.S. households. Median household income is projected to be $74,412 in five years. In 2000, median household income was $51,783, compared to $36,520 in 1990. Current average household income is $95,356 in this market area, compared to $73,126 for all U.S. households. Average household income is projected to be $114,036 in five years. In 2000, average household income was $74,046, compared to $50,189 in 1990. Current per capita income is $40,598 in the market area, compared to the U.S. per capita income of $27,916. The per capita income is projected to be $48,900 in five years. In 2000, the per capita income was $31,086, compared to $19,888 in 1990. Population by Employment Total Businesses 220 1,845 7,198 Total Employees 3,612 22,545 84,108 Currently, 95.6 percent of the civilian labor force in the identified market area is employed and 4.4 percent are unemployed. In comparison, 93.4 percent of the U.S. civilian labor force is employed, and 6.6 percent are unemployed. In five years the rate of employment in the market area will be 95.8 percent of the civilian labor force, and unemployment will be 4.2 percent. The percentage of the U.S. civilian labor force that will be employed in five years is 93.9 percent, and 6.1 percent will be unemployed. In 2000, 68.3 percent of the population aged 16 years or older in the market area participated in the labor force, and 0.0 percent were in the Armed Forces. In the current year, the occupational distribution of the employed population is: 73.2 percent in white collar jobs (compared to 60.2 percent of U.S. employment) 13.3 percent in service jobs (compared to 16.5 percent of U.S. employment) 13.5 percent in blue collar jobs (compared to 23.3 percent of U.S. employment) In 2000, 82.8 percent of the market area population drove alone to work, and 3.8 percent worked at home. The average travel time to work in 2000 was 22.9 minutes in the market area, compared to the U.S. average of 25.5 minutes. Population by Education In 2008, the educational attainment of the population aged 25 years or older in the market area was distributed as follows: 9.3 percent had not earned a high school diploma (16.4 percent in the U.S.) 21.6 percent were high school graduates only (29.6 percent in the U.S.) 7.0 percent had completed an Associate degree (7.2 percent in the U.S.) 27.3 percent had a Bachelor s degree (17.0 percent in the U.S.) 16.8 percent had earned a Master s/professional/doctorate Degree (9.7 percent in the U.S.) Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2008 and 2013. ESRI converted 1990 Census data into 2000 geography. 2008 ESRI On-demand reports and maps from Business Analyst Online. Order at www.esri.com/bao or call 800-292-2224 4/02/2009 Page 2 of 2