OFFERING MEMORANDUM www.w-retail.com
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OFFERING MEMORANDUM www.w-retail.com Mountain View Retail Shops | NWC Linda Vista Blvd & Thornydale Rd Tucson, AZ 85742
EXCLUSIVELY MARKETED BY: BRYAN BABITS Senior Associate 602.931.4491 bbabits@w-retail.com
TABLE OF CONTENTS Investment Summary Investment Highlights 4 Rent Roll 5 Property Overview Property Photos 6 Macro & Micro Aerial 7 Site Plan 8 Building Plan 9 Plat Map 10 Area Overview Market Introduction 11 Demographics 12 Offering Memorandum | Mountain View Retail Shops | 3
INVESTMENT SUMMARY
PROPERTY SUMMARY INVESTMENT HIGHLIGHTS
Offering Price $2,171,120 • New 5 year lease with Bank of America
CAP Rate 7.0%
Net Operating Income $151,978 • Outparcel in Safeway Anchored shopping Center
Occupancy 100%
• Across the street from Mountain View High School
Tenancy 5 Current Tenants Tucson’s largest high school by enrollment
Land Area 0.87 Acres
Building GLA 5,221 SF • Significant growth area
Year Built 2007
Address 9665 N Thornydale Rd
Tucson, AZ 85742
DEMOGRAPHICS
Population 1 Mile 3 Miles 5 Miles
2018 Estimated 6,999 50,002 117,899
2018 Median Age 39.9 40.5 42.6
Household Income 1 Mile 3 Miles 5 Miles
2016 Median $68,804 $69,630 $70,367
2016 Average $84,471 $83,758 $89,941
TRAFFIC COUNTS
N Thornydale Rd 17,710 VPD
Linda Vista Blvd 9,686 VPD
Offering Memorandum | Mountain View Retail Shops | 4
INVESTMENT SUMMARY
RENT ROLL
LEASE BASE BASE JAN 2017- BASE RENT
RENT PSF/ TERMS IN LEASE RENEWAL
SUITE TENANT NRSF COMMENCMENT MONTHLY ANNUAL DEC 2017 +CAM
YEAR MONTHS EXPIRATION OPTIONS
DATE RENT RENT CAM ANNUAL ANNUAL
A Fito’s Tacos 1,166 7/19/2007 $3,077 $36,926 $8,378 $45,304 $31.67 60 9/1/2021 5 Years
B Roadrunner Coffee 1,493 3/1/2018 $3,600 $43,200 $10,730 $53,930 $28.94 60 2/28/2023 5 Years
C Devine Healing 1,166 3/6/2018 $2,138 $25,652 $8,378 $34,030 $22.00 12 3/6/2023 5 Years
D Canvas Shop LLC 1,096 11/5/2018 $2,150 $25,800 $7,876 $3,676 $23.54 24 10/1/2020 5 Years
E Bank of America 300 7/1/2018 $1,700 $20,400 $2,156 $22,556 $68.00 60 1/1/2024 5 Years
TOTALS 5,221 $12,665 $151,978 $37,516 $189,495
GROSS INCOME $151,978
EXPENSE REIMBURSEMENT $37,516
TOTAL INCOME $189,494
LESS TOTAL EXPENSES ($37,516)
NOI (PROFORMA) $151,978
Offering Memorandum | Mountain View Retail Shops | 5
PROPERTY OVERVIEW
PROPERTY PHOTOS
Offering Memorandum | Mountain View Retail Shops | 6
PROPERTY OVERVIEW
MACRO & MICRO AERIAL
Rd
cle
North Star Estates North Ranch
Ora
93 Homes 885 Homes
Dove Mountain
Thornydale Rd
5000 Units
Ra
nc
Rancho Vistoso
ho
8200 Units
Vis
tos
oB
lvd
Ventana Medical
Systems
Le Mirage
Moore Rd
Apartments
Oro Valley
Crescent Ridge 168 Units
Hospital
Apartments
17,710 ADT
272 Units
Tangerine Rd
Sky Ranch
365 Units
T
EC
BJ
SU
Catalina State Park
lub
yC
ntr
ou
yC
T lle
EC
a
oV
BJ
Or
SU
Thornydale Rd
La Canada Dr
9,686 ADT Linda Vista Blvd Linda Vista Blvd
Canyon Del Oro High School
1569 STU
La Cholla Blvd
Rd
cle
Ora
Linda Vista R
Thornydale Rd
Cortaro Farms Rd Mountain View 77 Homes
High School
±1,969 Students
Thornydale Rd
FOOTHILLS MALL
±149 Faculty & Staff
OFF FIFTH
Ina Rd Ina Rd
LA ENCANTADA
Orange Grove Rd
La Cholla Blvd
La Canada Dr
10
TUCSON MALL
Sil
ve
rbe
Wetmore Rd
ll R
Riv
d
er R
d
Offering Memorandum | Mountain View Retail Shops | 7
PROPERTY OVERVIEW
SITE PLAN
T
EC
BJ
SU
Offering Memorandum | Mountain View Retail Shops | 8
PROPERTY OVERVIEW
BUILDING PLAN
Canvass Shop, LLC
Roadrunner Devine Fito’s Tacos Suite D
Coffee Healing Suite A T
1,096 SF
Suite B Suite C 1,166 SF
EC
BJ
SU
1,493 SF 1,166 SF
Bank of
America
Suite E
300 SF
Offering Memorandum | Mountain View Retail Shops | 8
PROPERTY OVERVIEW PLAT MAP Offering Memorandum | Mountain View Retail Shops | 9
AREA OVERVIEW
Tucson, located in Pima County, Arizona, is the 33rd largest city in the United States with a population of 530,000 people, and the 53rd
largest metropolitan area with over 1 million people. Located 115 miles southeast of Phoenix and 60 miles north of the US-Mexico
border, Tucson’s high-capacity border and transportation infrastructure makes it an ideal location for business and industry.
With a history that goes back much further than many of its southwestern neighbors, Tucson boasts turn-of-the-century architecture,
historic neighborhoods, museums and art galleries. There also exists a college-town atmosphere, thanks to the University of Arizona,
which boasts a total enrollment of over 42,000 students. Manufacturers lead the way in innovation, in sectors as varied as aerospace,
biotech, defense, healthcare, information technology, optics, solar, and water. Tucson offers an outstanding quality of life, along with a
low cost of doing business.
6WEUQPJCUVJGJKIJGUVEQPEGPVTCVKQPQHUVCTVWRUQHCP[75EKV[KVUUK\GCPFKUTCPMGFCUCVQRſXGEKV[HQTGPVTGRTGPGWTUD[
Entrepreneur Magazine.
Offering Memorandum | Mountain View Retail Shops | 10AREA OVERVIEW
AREA DEMOGRAPHICS
1 Miles 3 Miles 5 Miles
Population Summary
2018 Total Population 6,999 50,002 117,899
2023 Total Population 7,215 52,568 125,028
2015-2020 Annual Growth Rate 0.61% 1.01% 1.18%
2018 Median Age 39.9 40.5 42.6
Income Summary
Median Household Income $68,804 $69,630 $70,367
Average Household Income $84,471 $83,758 $89,941
Business Data
Total Businesses: 94 832 3,079
Total Employees: 713 7,379 36,329
Daytime Population: 4,181 31,847 95,927
Population 25+ by Educational Attainment
Associate Degree 9.7% 10.4% 10.0%
Bachelor’s Degree 21.4% 21.5% 23.6%
Graduate/Professional Degree 15.1% 15.1% 16.5%
Percent of Population with Degrees 46.2% 47.0% 50.1%
Employed Population 16+ by Occupation
Total 3,531 25,533 58,303
White Collar 68.6% 68.0% 69.0%
Services 17.8% 17.2% 17.0%
Blue Collar 13.6% 14.8% 14.0%
Household Summary
2018 Households 2,716 19,131 46,636
2018 Average Household Size 2.57 2.61 2.51
2018 Average Family Size 3.03 3.09 3.01
2018 Median Home Value $220,988 $221,494 $243,130
Offering Memorandum | Mountain View Retail Shops | 11CONFIDENTIALITY STATEMENT 6JKU%QPſFGPVKCN1HHGTKPI/GOQTCPFWOJCUDGGPRTGRCTGFD[9GUVGTP4GVCKN#FXKUQTU 94# HQTWUGD[CNKOKVGFPWODGTQHRCTVKGU whose sole purpose is to evaluate the possible purchase of the subject property. This Memorandum has been prepared to provide UWOOCT[WPXGTKſGFKPHQTOCVKQPVQRTQURGEVKXGRWTEJCUGTUCPFVQGUVCDNKUJQPN[CRTGNKOKPCT[NGXGNQHKPVGTGUVKPVJGUWDLGEVRTQRGTV[ The information contained herein is not a substitute for a thorough due diligence investigation. The information contained in this Memorandum has been obtained from sources we believe to be reliable. While we do not doubt its CEEWTCE[YGJCXGPQVXGTKſGFKVCPFOCMGPQIWCTCPVGGYCTTCPV[QTTGRTGUGPVCVKQPCDQWVKV+VKU[QWTTGURQPUKDKNKV[VQKPFGRGPFGPVN[ EQPſTOKVUCEEWTCE[CPFEQORNGVGPGUU#P[RTQLGEVKQPUQRKPKQPU assumptions or estimates used, are for example only, and do not represent the current or future performance of the property. The XCNWGQHVJKUVTCPUCEVKQPVQ[QWFGRGPFUQPVCZGUCPFQVJGTHCEVQTUYJKEJUJQWNFDGGXCNWCVGFD[[QWTVCZſPCPEKCNCPFNGICNCFXKUQTU You and your advisors should conduct a careful, independent investigation of the property to determine, to your satisfaction, the suit- ability of the property for your needs. All potential buyers must take appropriate measures to verify all of the information set forth here- KP$QVJ9GUVGTP4GVCKN#FXKUQTU 94# CPFVJG1YPGTFKUENCKOCP[TGURQPUKDKNKV[HQTKPCEEWTCEKGUCPFGZRGEVRTQURGEVKXGRWTEJCUGTU to exercise independent due diligence in verifying all such information. The contained information is subject to change at any time and YKVJQWVPQVKEG6JGTGEKRKGPVQHVJG/GOQTCPFWOUJCNNPQVNQQMVQVJG1YPGTQT9GUVGTP4GVCKN#FXKUQTU 94# HQTVJGCEEWTCE[QT completeness of this Memorandum. A prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the RTQRGTV[YKVJQWVTGNKCPEGQPVJKU/GOQTCPFWOQTCP[QVJGT%QPſFGPVKCN+PHQTOCVKQPYTKVVGPQTXGTDCNHTQOVJG$TQMGTQTVJG5GNNGT 6JG1YPGTGZRTGUUN[TGUGTXGUVJGTKIJVCVKVUUQNGFKUETGVKQPVQTGLGEVCP[QHHGTVQRWTEJCUGVJGRTQRGTV[QTVQVGTOKPCVGCP[PGIQVKC- VKQPUYKVJCP[RCTV[CVCP[VKOGYKVJQTYKVJQWVYTKVVGPPQVKEG1PN[CHWNN[GZGEWVGF4GCN'UVCVG2WTEJCUG#ITGGOGPVCRRTQXGFD[ Seller, shall bind the property. Each prospective purchaser and/or broker proceeds at its own risk. All property showings are by appointment only. Offering Memorandum | Mountain View Retail Shops | 12
OFFERING MEMORANDUM www.w-retail.com Mountain View Retail Shops | NWC Linda Vista Blvd & Thornydale Rd Tucson, AZ 85742
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