OFFERING MEMORANDUM - WINTER PARK (ORLANDO) FLORIDA New 2019 Construction Urgent Care Center - nnn deal
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OFFERING MEMORANDUM
W I NTER P AR K ( O RL A ND O )
FL O RI D A
New 2019 Construction
Urgent Care Center
CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should 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, unverified information 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 due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future 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 or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’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; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) 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 M&M, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. Marcus & 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.
Brent 90 301
Bellview Pensacola Wright
331 1
Fort Walton Beach 27
10 41
Myrtle Grove
West Pensacola 98 90
98 441
Warrington
19 10 75 Jacksonville
231
Jacksonville Beach
221
98 10
90
98 90
Bellair
Panama City Lakeside
129
98 27
41 17
27
95 1
319
St. Augustine
19 27
98 75
129
98 17
441
27 1
TABLE OF CONTENTS
301
Gainesville
Palatka
19
129
27A 27
75 301
19 441
27A 95
1
17
Ormond Beach
41 27
Investment Summary..........................................1
Daytona Beach
19 Ocala
South Daytona
27 Port Orange
92 95 1
New Smyrna Beach
De Land
27
19 41 75
Investment Highlights.........................................2
301
17 Deltona
1
Leesburg
Sanford
441 4
Wekiva Springs Longwood 95
Winter Springs
Aerial Map..........................................................3
Casselberry
Altamonte Springs
Lockhart
98 Goldenrod
Fairview Shores
19 301 Winter Park
Pine Hills Titusville
Holden Heights
Orlando 1
Conway
Oak Ridge
27
19 41
75
Site Plan.............................................................6
Cocoa
Merritt Island
Bayonet Point 4 Rockledge Cocoa Beach
Kissimmee
Jasmine Estates
1
New Port Richey 17
Elfers
Holiday 192
95
Tarpon Springs
4
Tenant Summary.................................................7
19A 301 Haines City
192
Melbourne
Lake Magdalene
University
Lake Carroll
Dunedin Temple Terrace
Egypt Lake Lakeland Winter Haven Palm Bay
Plant City
Town N Country
4 27A
Clearwater
Tampa
Lakeland Highlands
Brandon 98 1
Palm River
Largo 92 Bartow 441
41
Pinellas Park
Location Highlights..............................................9
Lealman 75
95
St. Petersburg 27A
Gulfport 98
Vero Beach
17
41
301 Vero Beach South
275
75
Location Summary............................................10
441
27 95
Bradenton
South Bradenton 98 Fort Pierce
Bayshore Gardens
Sarasota 1
17 98
441
Demographics...................................................11
Sarasota Springs Port St. Lucie
95
Venice
17 98
27 1
75
41 95
Port Charlotte
Englewood 98
Palm Beach Gardens North Palm Beach
75 27 98 Riviera Beach
41
Century Village West Palm Beach
27 98
North Fort Myers Belle Glade
Fort Myers
Lake Worth
Cape Coral
Boynton Beach
41
Delray Beach
27 441
Immokalee
95
Boca Raton
Deerfield Beach
75 Lighthouse Point
Coral Springs
Margate
North Lauderdale
Pompano Beach
Tamarac Oakland Park
Naples Sunrise
Lauderdale Lakes
East Naples 75 Lauderhill
Fort Lauderdale
Plantation
27
Davie Dania
Cooper City
Pembroke Pines Hollywood
Miramar Hallandale
Norland
41 Carol City
North Miami Beach
Golden Glades
Pinewood North Miami
Hialeah West Little River
Gladeview
Miami Miami Beach
41 Tamiami Westchester
Kendale Lakes Westwood Lakes
South Miami
Lindgren Acres
Kendall
Palmetto Estates
Perrine
South Miami Heights
Cutler Ridge
Naranja
Leisure City
Homestead
1
INVESTMENT SUMMARY
N SEMORAN BLVD & HANGING MOSS ROAD, ORLANDO, FLORIDA 32807
PRICE: $5,420,000 CAP: 5.00% RENT: $271,000
OVERVIEW A N N U A L I Z E D O P E R AT I N G D ATA
Price $5,420,000 Lease Term Annual Rent
Gross Leasable Area (GLA) +/- 10,358 SF Years 1-5 $271,000
Lot Size (approx) 3.4 Acres Years 6-10 $297,000
Net Operating Income $271,000 Years 11-15 $326,700
CAP Rate 5.00% Years 16-20 $359,370
Year Built 2018
LEASE ABSTRACT * Site is paying rent and lease has commenced, however the site will not be
deliverable until 1stQ 2019 (currently under construction).
Lease Type NNN
Lease Term 20 Years
Lease Start* August 2018
Renewal Options 4x5
Increases 10% Every 5-years
Roof & Structure Tenant Responsible
1
INVESTMENT HIGHLIGHTS
v One of the nation’s largest healthcare providers (S&P BB
Rated), ranked #63 Fortune 500
v Has expanded past the borders of the U.S. into the UK
with over one hundred and fifty hospitals
v Single story Emergency Room with anticipated completion
March 2019
v Cared for close to four million patients in 2014 with
another two, or so, million visits to the ER in the state of
Florida alone
v The subject site is estimated to serve 10,000 patients
per year
v Florida has the second most hospital locations in the
Country
295,914 $71,449
TOTAL AVERAGE
POPULATION HOUSEHOLD
WITHIN 5-MILE INCOME WITHIN
RADIUS 5-MILE RADIUS
56,215 VPD - N SEMORAN BLVD
2
Florida
Hospital
Burger King
Winter Park
Memorial Hospital ®
tm
Winter Pines
Country Club
Orange County
Public School District
Orlando VA 1.4577
Outpatient Clinic
Orlando VA
Medical Center
6.95 Acre in-line retail Walgreens
development under
construction with
delivery 1stQ 2020
N SEMORAN BLVD - 56,215 VPD
McDonald’s
V E
L DRI
O NIA
OL
EC
Florida Hospital
East
2 Miles
3
Proposed signalized
6.95 Acre in-line retail intersection
development under
construction. Scheduled for
1stQ 2020 delivery with 1,000
SF of inline retail and .5 acres
earmarked for a ground lease
Projected to receive
10,358 +/- patients
per year upon
completion 2019
4
5
SITE PLAN
HANGING MOSS RD
)
4 36
RD
E
AT
(ST
D
LV
NB
RAO
EM
NS
6TENANT SUMMARY
HOSPITAL CORPORATIONS OF AMERICA (HCA) to the United Kingdom and had operated over a hundred hospitals
overseas by 2012. With their physicians and nurses constantly working
Hospital Corporations of America (HCA) is a for-profit health care
together they share best demonstrated practices in quality and clinical
operator within the United States. HCA stands for the best practices of
operations and collaborate to create a full continuum of care and
medicine, using our reach, scale and stability to transform healthcare
specialty services for the communities they serve. With one of their
and help communities thrive. One of the nation’s leading providers of
mottos being, “Actions speak louder than words” the HCA is determined
healthcare services, HCA is made up of locally managed facilities that
to deliver patient-centered healthcare no matter the circumstance.
include 178 hospitals and 119 freestanding surgery centers located in
They are truly for the people as demonstrated by Co-Founder Dr. Frist
20 U.S. states and in the United Kingdom. Having been founded in
Sr. by stating, “Bricks and mortar do not make a hospital. People do.”
Nashville, Tennessee, thanks to Dr. Thomas F. Frist Sr, his son, Jack C.
HCA has managed to catapult itself to being one of the nation’s leading
Massey, and Henry Hooker, they immediately wanted to expand and
providers of healthcare services, and even holds joint research projects
modernize their facilities to accommodate the latest technology and
with corporations like the Center for Disease Control (CDC) and the
deliver the services that meet the needs of a growing community. Their
Harvard Pilgrim Institute (HPI). With their ultimate goals of strengthening
nurses and clinical staff are highly trained, and physicians affiliated with
communities, the HCA undoubtedly goes above and beyond anyone’s
their facilities represent all major medical and surgical specialties. Being
expectations, with employees pledging over eight million to community
accredited by the Joint Commission as well as names Top Performers
agencies and volunteering more than thirty-five thousand hours in 2015
on Key Quality Measures, not to mention other accomplishments/
alone. Who wouldn’t want HCA backing them?
achievements, have helped the HCA obtain the reputation it has today.
In 2010, HCA announced they were, once again, going public with HCA, the nation’s largest healthcare company broke ground in 9/2017
north of four and a half billion IPO. Just a year later, they sold over one on a new 64-bed acute care hospital in Oviedo, FL. The new Medical
hundred and twenty million shares at thirty dollars per share raising center when it opens is projected to service over 35,000 patients in its
close to four billion which, at that time, was the largest private-equity first year.
backed IPO in U.S. history.
Oviedo Medical Center Expansion News Sept 2015
In terms of why HCA is a quality healthcare corporation, not only do they
(Click to see article)
operate hundreds of hospitals domestically, but they have expanded
7436
417
414
414
Paradise
Heights
HCA Lockhart
Maitland
Eatonville
434
423 426
Hiawassee
429 4
441 Winter Park
551
424
417
NASHVILLE, TN
438
Ocoee 423 50 Union Park
r Garden Alafaya
HEADQUARTERS
50
Pine Hills
50
Orlando
408 408 526 408
526 Azalea Park
178 HOSPITALS &
1968 119 SURGERY CENTERS 552
F O UND ED 435
L O C ATI O NS
Conway
441 551
Windermere
PUBLIC HEALTHCARE
Millenia
527 417
4 15
O W NER S HI P IN DUS TRY
Vista East
Oak Ridge Pine Castle
Lake Butler Bay Hill
R. MILTON SAMUEL
4
N. Sky Lake
JOHNSON HAZEN Orlando
International
Airport
CEO PR E SIDENT/CO O
528
Southeast
8
Williamsburg Orlando4
Maitland
434
LOCATION HIGHLIGHTS
Eatonville
23 426
4
Winter Park
551
424 7 Miles to Downtown Orlando
WINTER PARK, FL
417 420
50 Union Park ORLANDO METROPLEX AREA
Alafaya 50
Orlando
526 408
Azalea Park
552
Thirty Minutes from 56,215 Vehicles
Universal Orlando Per Day on
441
Conway
551 Resort N Semoran Boulevard
527 417
M A J O R E M P L O Y15E R S : 2 0 1 7Vista East
Pine Castle
ORLANDO, FL
Walt Disney World 74,000
Sky Lake
Orange County Public Schools 23,929 528
Orlando
Universal Orlando ResortInternational
Airport 21,000
Florida Hospital 20,413
Over 6 acres of The site is to
Publix Supermarkets Inc. 19,783
Orlando International Airport
Southeast
18,000
Orlando
new retail under be located at a
Orlando Health 16,828 development adjacent proposed signalized
527A
University of Central Florida 11,833 to the site intersection.
Orange County Government 10,532
Meadow Lake Hart
Woods County Public Schools
Seminole 7,596
Lake Nona
417
9WINTER PARK, FL
Winter Park, Florida, specifically the Baldwin Park area, is one of Winter Park is barely a half hour’s drive from Universal Studios Orlando
the most affluent zip codes in Central Florida. Resort which is a popular vacation spot for many U.S. citizens,
pretty much all throughout the year. Additionally, within Winter Park
Winter Park is a suburban city within Orlando, Florida. Known for
itself, the Mead Botanical Garden which is close to a fifty-acre park
its abundance of outdoor space and civic leadership, Winter Park
encompasses several ecosystems and is another popular attraction for
is considered a very progressive and business friendly city. In the
tourists with many of its structures being more than one hundred years
nineteenth century, migrant Muscogee people were the first human
old. Winter Park is also known for its abundance of museums ranging
residents and they eventually evolved into the popularly known
from art museums and sculpture gardens to historical museums and
Seminoles (Current mascot of Florida State University). The city didn’t
everything in between. Additionally, the city’s summer lasts about six
start to develop until the late nineteenth century when railroad tracks
months on average coupled with warm showers occurring mostly in
connected it to the rest of the state and before long, the rest of the
July and August. It’s a cheaper place to live since average rent for most
country. Fast forward, the city’s population is growing at a sustainable
rental apartments is just over one thousand dollars a month which, in
rate at about 1% a year, increasing its total population, adding the
comparison to nearby cities, is on the cheaper side of rent. It’s average
Orlando Metropolitan Population which grew to 2,387,138—the 24th
income per capita is just shy of fifty thousand a year which is more than
largest city in the US. In 2017, the city added 55 acres of open public
the state of Florida as a whole. Due to its proximity to the east coast
parkland. Taxes remains at the same level and have not been raised
and its beaches, Winter Park, FL has become a tourist attraction as well
in 11 years, yet through controlled fiscal governance the city’s general
as a place where natives of Florida want to live due to its above-par
fund increased 20% in 2018.
living conditions.
10DEMOGRAPHICS / WINTER PARK, FL
295,914
Total Population Within 5-Mile Radius
$71,449
Average Household Income
$47,656
Median Household Income
Within 5-Mile Radius Within 5-Mile Radius
127,457
Total Households Within
16.77%
From 2000
5-Mile Radius
11POPULATION 1 MILE 3 MILES 5 MILES HOUSEHOLDS BY EXPENDITURE 1 MILE 3 MILES 5 MILES
2022 Projection Total Average Household Retail Expenditure $57,681 $58,410 $59,644
Total Population 13,003 106,963 308,109 Consumer Expenditure Top 10 Categories
2017 Estimate Housing $15,043 $15,319 $15,723
Total Population 12,158 102,345 295,914 Shelter $11,567 $11,483 $11,621
2010 Census Transportation $8,933 $8,967 $9,174
Total Population 10,653 92,371 269,555 Food $5,864 $5,906 $6,037
2000 Census Personal Insurance and Pensions $4,383 $4,599 $4,768
Total Population 9,132 85,206 260,060 Health Care $3,241 $3,609 $3,781
Current Daytime Population Utilities $3,148 $3,259 $3,354
2017 Estimate 29,501 123,972 389,320 Entertainment $2,615 $2,909 $3,030
Apparel $1,689 $1,666 $1,717
HOUSEHOLDS 1 MILE 3 MILES 5 MILES Household Furnishings and Equipment $1,357 $1,421 $1,474
2022 Projection
Total Households 5,864 45,384 134,860 POPULATION PROFILE 1 MILE 3 MILES 5 MILES
2017 Estimate Population By Age
Total Households 5,382 42,751 127,457 2017 Estimate Total Population 12,158 102,345 295,914
Average (Mean) Household Size 2.13 2.31 2.28 Under 20 19.66% 21.87% 20.69%
2010 Census 20 to 34 Years 36.60% 29.35% 27.51%
Total Households 4,712 38,562 116,024 35 to 39 Years 6.77% 6.62% 6.99%
2000 Census 40 to 49 Years 11.10% 12.09% 12.91%
Total Households 3,927 35,235 109,148 50 to 64 Years 14.96% 17.25% 18.47%
Occupied Units Age 65+ 10.88% 12.83% 13.44%
2022 Projection 5,864 45,384 134,860 Median Age 31.47 34.18 36.21
2017 Estimate 5,710 45,103 136,380 Population 25+ by Education Level
2017 Estimate Population Age 25+ 8,207 69,520 209,919
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES Elementary (0-8) 1.43% 2.63% 2.78%
2017 Estimate Some High School (9-11) 7.09% 7.36% 6.57%
$150,000 or More 8.20% 8.43% 8.44% High School Graduate (12) 20.36% 24.62% 24.61%
$100,000 - $149,000 9.33% 9.51% 10.08% Some College (13-15) 18.94% 18.86% 19.24%
$75,000 - $99,999 9.31% 9.98% 10.58% Associate Degree Only 13.32% 10.74% 10.52%
$50,000 - $74,999 17.58% 17.84% 18.94% Bachelors Degree Only 23.56% 22.65% 23.60%
$35,000 - $49,999 15.80% 14.29% 14.40% Graduate Degree 13.95% 12.09% 11.71%
Under $35,000 39.78% 39.95% 37.57%
Average Household Income $64,240 $69,734 $71,449
Median Household Income $44,047 $45,296 $47,656
Per Capita Income $28,703 $29,427 $30,965
12WINTER PA R K (OR LA NDO)
FLOR IDA
LIOR REGENSTREIF
SENIOR MANAGING DIRECTOR INVESTMENTS
SENIOR DIRECTOR, NET LEASED PROPERTIES GROUP
ENCINO OFFICE
Tel: (818) 212-2730
Fax: (818) 212-2710
Lior.Regenstreif@marcusmillichap.com
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