Winn Dixie - EXP Realty Advisors

Subject Property
Winn Dixie new 20 year NNN lease
1625 West Tharpe Street - Tallahassee, FL
Exclusive Offering
Price: $5,547,769 | NOI: $360,605 | CAP: 6.50%
 Less than 2 miles from Florida State University with 40,000 students
 Established location where tenant recently entered into new absolute triple net 20 year lease
In Connection With:
 Positive sales growth 2013 to 2014
 Low rent to sales ratio
 5% rent bump in year 11 and each option
Phone: 212.972.7457
Fax: 212.686.0078
exp@exp1031.com
www.exp1031.com
 158,000 five mile population
 No state income tax
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Winn Dixie
Whisper
Valley Ranch
Property Line
Investment
Overview
Map
PROPERTY OVERVIEW:
EXP Realty Advisors exclusively presents for sale a 51,515 sf Winn Dixie located in Tallahassee, FL. The property is less
than 2 miles from Florida State University. There are approximately 19 years remaining on the primary lease term, and 6
– 5 year renewal options with 5% rent increases in year 11 and each option. Tenants located in the immediate area
include Wells Fargo, Exxon, Bruster's Ice Cream, and Marathon Gas. This store has been operating at this location since
December 14, 2000 and has a low rent to sales ratio of 2.67%. There is a small retail strip center on a pad site at the
property which is not included in the sale. Tenants in the strip center pad include Philly Connection, Redbox, and Taco
Libre among others. Winn Dixie reports sales and sales have increased annually 2013 to 2014. Contact us for details.
INVESTMENT SUMMARY
Price:
$5,547,769
CAP Rate:
6.50%
NOI:
$360,605
There are over 40,000 students enrolled in Florida State University. Florida State University is home to nationally ranked
programs in many academic areas, including law, business, engineering, medicine, social policy, film, music, theater,
dance, visual art, political science, psychology, social work, and the sciences. Florida State University is ranked the
nation's forty-third best public university by U.S. News & World Report.
Escalation:
5% in year 11 and
in each option
Bld. sf:
51,515 sf
Tallahassee is the capital of the U.S. state of Florida. It is the county seat and only incorporated municipality in Leon
County, and is the 126th largest city in the United States. Tallahassee is a center for trade and agriculture in the Florida
region and Southwest Georgia and is served by Tallahassee Regional Airport and Interstate 10. As a capital city,
Tallahassee is home to the Florida State Capitol, Supreme Court of Florida, Florida Governor's Mansion, and nearly 30
state agency headquarters. The city is also known for its large number of law firms, lobbying organizations, trade
associations and professional associations, including the Florida Bar and the Florida Chamber of Commerce. It is also a
recognized regional center for scientific research, and home to the National High Magnetic Field Laboratory.
Land Size:
8.00 acres
Lease Type:
NNN (no landlord
responsibilities)
Options:
6 (5) year renewal
options
LEASE SUMMARY:
Lease Expiration:
Current Rent:
Options:
Lease Type:
12/31/2033
$360,605 – rent escalates 5% in year 11 to $378,635.25
6 (5) year renewal options – 5% rent increases in each option
Absolute NNN – no Landlord responsibilities
TENANT OVERVIEW: Winn Dixie Stores, Inc. guarantees the lease with Winn-Dixie Stores Leasing, LLC
On March 12, 2012, Winn-Dixie and Greenville, S.C.-based BI-LO became subsidiaries of the privately held parent
company, BI-LO Holding, which is the ninth-largest supermarket chain in the United States with 688 grocery stores and
63,000 team members in eight states throughout the southeast. BI-Lo and Winn-Dixie parent company, Southeastern
Grocers, LLC, is planning an initial public offering of stock under “SEG.” Founded in 1925, Winn-Dixie is headquartered in
Jacksonville, Fla., and currently operates 482 stores throughout Alabama, Florida, Georgia, Louisiana and Mississippi.
Winn-Dixie has a competitive market share with prime convenient locations in some of the most attractive and fastest
growing regions of the southeastern United States with high population density.
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Winn Dixie
Whisper
Valley Ranch
Competition
Property
Area
History
LineAerial
Map
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Winn Dixie
Whisper
Valley Ranch
AerialHistory
Property
Area
Line Map
ADT: 27,305
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Winn Dixie
Whisper
Valley Ranch
Location
Map Map
Property
Area
History
Line
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Winn Dixie
Whisper
Valley Ranch
Site Plan
Property
Area
History
Line Map
STRIP
CENTER
NOT
INCLUDED
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Winn Dixie
Whisper
Valley Ranch
Demographic
Property
Line Data
Map
Radius
Population:
2020 Projection
2015 Estimate
2010 Census
Growth 2015-2020
Growth 2010-2015
2015 Population Hispanic Origin
2015 Population by Race:
White
Black
Am. Indian & Alaskan
Asian
Hawaiian & Pacific Island
Other
Households:
2020 Projection
2015 Estimate
2010 Census
Growth 2015 - 2020
Growth 2010 - 2015
Owner Occupied
Renter Occupied
2015 Avg Household Income
2015 Med Household Income
2015 Households by Household Inc:
<$25,000
$25,000 - $50,000
$50,000 - $75,000
$75,000 - $100,000
$100,000 - $125,000
$125,000 - $150,000
$150,000 - $200,000
$200,000+
3 Mile
5 Mile
10 Mile
98,906
95,748
92,439
3.30%
3.58%
7,595
163,958
158,477
152,170
3.46%
4.14%
10,914
263,299
254,600
244,794
3.42%
4.01%
16,008
54,910
35,597
282
2,775
68
2,116
89,761
60,487
488
4,232
112
3,396
155,658
84,387
796
8,330
174
5,255
40,683
39,304
37,906
3.51%
3.69%
11,490
27,814
$43,932
$28,645
67,938
65,556
62,890
3.63%
4.24%
25,153
40,403
$52,822
$36,114
107,209
103,538
99,515
3.55%
4.04%
52,349
51,188
$65,079
$45,320
17,954
10,069
5,074
2,772
1,194
604
948
689
24,506
17,414
9,617
6,085
2,989
1,282
1,826
1,838
30,235
26,014
16,483
11,759
6,734
3,759
4,270
4,283
Exclusively listed by:
EXP Realty Advisors
118 East 28th Street
Suite #901
New York, NY 10016
Phone: (212) 972-7457
Fax:
(212) 686-0078
Website: www.exp1031.com
Our Team
Robert James
Phone: (212) 686-0072
E-mail: rob@exp1031.com
Daniel de Sa'
Phone: (212) 972-3947
E-mail: dan@exp1031.com
Florida Broker of Record:
License Number: BK53897
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.