GOLDEN CORRAL OFFERING MEMORANDUM
Confidentiality Agreement The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and it should not be made available to any other person or entity without the written consent of Marcus & Millichap. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Marcus & Millichap. This offering memorandum has been prepared to provide summary, unverified financial and physical 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, PCBs or asbestos, the compliance with local, 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 offering memorandum 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
| TABLE OF CONTENTS |
5
PRICING & FINANCIAL
9
PROPERTY DESCRIPTION
19
27
MARKET OVERVIEW
DEMOGRAPHIC ANALYSIS
Financial Overview
Property Location
Austin, Texas
Demographic Report
Tenant Overview
Property Summary
Summary Report
Local Map
Population Density Map
Regional Map
Employment Density Map
Aerial Map
Average Household Income
Property Photos
Traffic Count
Texas State Capital Building, Austin, Texas
http://www.vistanature.com/wp-content/uploads/2013/11/Disneyland-California.jpg
PRICING & FINANCIAL FINANCIAL OVERVIEW TENANT OVERVIEW
FINANCIAL OVERVIEW PROPERTY
ANNUALIZED OPERATING DATA
Price
$6,135,000
PRICING & FINANCI AL
Rentable Square Feet
14,039 SF
Price / SF
$455.87
CAP Rate
6.00%
Year Built
2010
Lot Size
2.80 Acres
Type of Ownership
Fee Simple
TENANT SUMMARY Tenant Trade Name
Golden Corral
Ownership
Private
Tenant
Corporate Store
Lease Guarantor
Corporate Guarantee
Lease Type
Absolute Net
Roof and Structure
Rent Schedule
Annual Rent
Monthly Rent
Years 1-5
$350,286.00
$29,190.50
Years 6-10 *
$367,800.30
$30,650.03
Years 11-15
$386,190.32
$32,182.53
Years 16-20 (Option #1)
$405,499.84
$33,791.65
Years 21-25 (Option #2)
$425,744.84
$35,478.74
Years 26-30 (Option #3)
$447,063.58
$37,255.30
Years 31-35 (Option #4)
$469,416.75
$39,118.06
Years 36-40 (Option #5)
$492,887.59
$41,073.97
Base Rent ($26.20/SF) NET OPERATING INCOME TOTAL RETURN
$367,800
$367,800 367800
Tenant Responsible
Lease Term
15 Years
Lease Commencement Date
December 30, 2010
Rent Commencement Date
December 30, 2010
Lease Expiration Date
January 1, 2025
Term Remaining on Lease
10+ Years
Increases
5% Every 5 Years
Options
(5), 5-Year Options
* CAP Rate Based on Jan 1,2016 Rent Increase
6
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
TENANT OVERVIEW TENANT OVERVIEW Property Name Property Address
Golden Corral 12509 N Lamar Blvd Austin, TX 78753
Property Type
Net Leased Restaurant
Rentable Square Feet
14,039 SF
Tenant Trade Name Ownership Tenant
Golden Corral
Ownership Lease Guarantor
$1.73 Billion (System Wide) Corporate Guarantee
Lease Commencement Date
December 30, 2010
Rent Commencement Date
December 30, 2010
Lease Expiration Date
January 1, 2025
Term Remaining on Lease
10+ Years
Lease Type Roof and Structure
Absolute Net Tenant Responsible
Lease Term Increases Options to Renew
15 Years 5% Every 5 Years (5), 5-Year Options
Options to Terminate
No
Options to Purchase
No
First Right of Refusal
Yes (See Agent for Details)
No. of Locations Headquartered Web Site
PRI C I NG & FINANCIAL
Sales Volume
Private
500+ in 41 States Raleigh, North Carolina goldencorral.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
7
Pennybacker/360 Bridge, Austin, Texas
https://www.flickr.com/photos/capt_kirk/3510204346/
PROPERTY DESCRIPTION PROPERTY LOCATION PROPERTY SUMMARY LOCAL MAP REGIONAL MAP AERIAL MAP PROPERTY PHOTOS
P ROPERTY DESCRI PTI ON
GOLDEN CORRAL
10
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
PROPERTY SUMMARY THE OFFERING Property Address
Golden Corral 12509 N Lamar Blvd Austin, TX 78753
Year Built Rentable Square Feet Lot Size
2.80 Acres
Type of Ownership
Fee Simple
2010 14,039 SF
Monster Store Sales (More Than 2x National Average)
Exceptionally Low Rent-to-Sales Ratio
Austin MSA (#1 Fastest Growing City in America)
2010 Build to Suit | 14,039 SF Prototype
Potential Consumer Base of 260,000+ in 5-Mile Radius
42% Population Growth Since 2000 in 10-Mile Radius
330 Businesses (4,983 Daytime Employees) within 1 Mile
Immediate Proximity to Interstate 35 (176,000+ ADT)
Top 3 Unit in US for the Company
The lease is absolute net in nature and requires zero landlord responsibilities. There are currently over 10 years remaining on a primary lease term that is complimented by (5), 5-year option periods that extend through 2050. Notably, and serving as an effective hedge against inflation, the lease is structured with 5.0% rent increases every 5 years during both the primary term and the option periods. Unit-level economics for the restaurant are exceptional. Driven by ideal consumer demographics in the immediate trade area, this location serves approximately 650,000 meals per year and approximately 1,780 customer per day. As an extremely high volume site, annual sales at this Golden Corral are more than twice that of the national average. To further put this feat into perspective, sales revenue at this location is more than twice the national average of competitors like Red Lobster, Cracker Barrel, TGI Fridays, Outback Steak house, and Buffalo Wild Wings; and around three times that of the average Panera Bread, Applebee’s, O’Charleys, and I-HOP. The property is ideally situated near the intersection of West Parmer Lane (one of the city’s busiest east-west corridors) and North Lamar Boulevard (one of the city’s busiest north-south corridors). It is also in immediate proximity to Interstate 35 -- which boasts average daily traffic in excess of 176,000. In addition to being situated within walking distance to numerous apartment complexes, senior living facilities and hotels, this Golden Corral benefits from the positive retail synergy created by neighboring anchor tenants in the area such as HEB, JC Penney, Sears, Hobby Lobby, Target, Home Depot, CarMax, Lowe’s, and Wal-Mart.
PROPERTY DESCRIPTION
INVESTMENT HIGHLIGHTS
T
he subject offering affords select investors the rare opportunity to acquire a trophy asset in Austin, Texas -- the #1 Fastest Growing City in America (Source: Forbes Magazine). Built to suit in 2010 after an exhaustive site selection process, Golden Corral constructed this 14,039 SF prototype restaurant on a large 2.80 acre parcel situated at one of the busiest intersections in North Austin.
Golden Corral is a leader in the family restaurant segment and well known as America’s #1 buffet and grill. Golden Corral’s legendary, endless buffet contains an array of fresh, made-from-scratch food choices offered to diners for breakfast, lunch and dinner. Golden Corral is the operator or franchisor of more than 500 restaurants in 41 states.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
11
P ROPERTY DESCRI PTI ON
LOCAL MAP
12
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
REGIONAL MAP
PROPERTY DESCRIPTION
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
13
P ROPERTY DESCRI PTI ON
AERIAL
14
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
PROPERTY DESCRIPTION
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
15
P ROPERTY DESCRI PTI ON
16
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
PROPERTY DESCRIPTION
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
17
Texas Capitol Building, Austin, Texas
http://www.vistanature.com/wp-content/uploads/2013/11/Disneyland-California.jpg
MARKET OVERVIEW AUSTIN, TEXAS
LOCATION OVERVIEW MARKET HIGHLIGHTS Jobs
Many new companies have relocated to the Austin MSA in the last five years: “Austin is No. 7 on Best Cities for Young Entrepreneurs list.” -Nerd Wallet Finance
Projected Austin MSA Population
MARKET OVERVI EW
Because of its draw as a destination for migrating talet, metro Austin’s population grew to nearly 1.9 million in 2013.
Austin in the Rankings
“Texas is No. 1 for Economic Climate and No. 1 Growth Prospects, and No. 6 overall in ranking of the Best States for Business 2014.” -Forbes
GEOGRAPHY
T
he Austin-Round Rock metro consists of five counties in central Texas. Austin, the capital of Texas, is located in Travis County. The city lies along the Colorado River, where it emerges from the Texas Hill Country and the Balcones Escarpment. The 32,000-square-mile Texas Hill Country begins in Austin and stretches approximately 150 miles to the west. This area consists of rolling hills, valleys and small canyons, with flora including mountain junipers, live oaks, Chinquapin oaks and sycamores.
20
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
AUSTIN, TEXAS Projected Austin MSA Population
METRO
0.5 2000-2010
5,500,000
T
2000-2010
5,000,000
he Austin metro contains Travis, Williamson, Hays, Caldwell and Bastrop counties and covers about 4,225 square miles. The population of the metro increased significantly in recent decades to more than 1.9 million individuals. Growth stemmed mainly from inmigration due to job gains. Austin, the capital city, is also the largest with a population of 847,600 people.
4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000
2010 2015 2020 2025 2030 2035 2040 2045 2050
INFRASTRUCTURE LARGEST CITIES IN METRO
A
ir service to the region is provided by Austin-Bergstrom International Airport, which opened at the former Bergstrom Air Force Base in 1999, and nine general aviation facilities.
Austin Round Rock Cedar Park Georgetown San Marcos Pflugerville
The Austin area is served by Interstate 35, part of the NAFTA corridor. In addition, the redevelopment of State Highway 130 into a tollway provides access around the city. Portions of Highway 183 and Loops 1 and 360 also exist as toll ways. Burlington Northern Santa Fe and Union Pacific are Class 1 railways, and Georgetown Railway is a shortline railroad that provide freight service. In addition, Amtrak offers passenger service. Capital Metro is responsible for the region’s long-range transit planning and operates local and express bus service, as well as MetroRail, the commuter-rail system.
885,400 109,821 61,238 54,989 54,076 53,752
MARK ET OVERVIEW
1,000,000
2010 Estimate Sources: Marcus & Millichap Research Services, AGS
AIRPORTS
MAJOR ROADWAYS
Austin-Bergstrom International
Interstate 35
Nine general aviation
U.S. highways 290 and 183
State Routes 130, Loop 1 and Loop 360
RAIL
Freight - BNSF, Union Pacific, Georgetown Railroad
AUSTIN IS:
68 miles from San Antonio
Passenger - Amtrak, MetroRail
147 miles from Houston
240 miles from Larado
770 miles from Denver
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
21
ECONOMY
L
MARKET OVERVI EW
ocated within a border state, the Austin economy benefits significantly from international trade due to NAFTA, which eliminates most tariffs and trade barriers between the United States, Mexico and Canada. As the state capital, Austin relies heavily on government employment. While other industries generated more jobs over the past several years, the government sector continues to account for the greatest share of nonfarm employment.
22
Austin has become one of the most vibrant high-technology regions in the nation. Semiconductor and related equipment manufacturing, along with computer and software development, are key industries to the local economy. These traits attract numerous transplants such as IBM, 3M, Samsung, AMD and Applied Materials, all anchored by Dell. A diverse employment base provides a bright outlook for future job growth. In the metro, eight universities and colleges help fuel the local high-tech economy by offering substantial funds for research and development endeavors. These institutions also provide local employers with an immediate source of well-educated workers and offer continuing education opportunities.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
LABOR
A
diverse local economy and well-trained labor pool help Austin maintain its status as one of the top employment growth centers in the nation. The metro’s work force possesses a high level of education due to its solid primary and secondary schools; strong community colleges, such as Austin Community College; and the reputable University of Texas at Austin. During the past five years, nonfarm employment growth in the Austin metro outperformed the national level, being one of the nation’s prime regions for payroll expansion. After rapidly adding jobs in all segments of the economy during this period, this trend will continue through 2018.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
MARK ET OVERVIEW
The government sector, which currently comprises 20 percent of regional jobs, was one of the slowest growing employment sectors over the last five years. After expanding at an average pace of 0.4 percent annually since 2009, employment gains in this sector are expected to accelerate to 3.8 percent annually through 2018. Austin’s trade, transportation and utilities, and the professional and business services sectors also account for a sizeable share of employment in the metro, representing 18 percent and 15 percent of all jobs, respectively. The former is expected to grow 0.2 percent annually in the coming five years, while the latter registers a 0.5 percent annual expansion.
23
EMPLOYERS
J
ob growth is a vital indicator of the progression of any local economy. With nonfarm employment growth expected to average 2.1 percent annually over the coming five years, Austin’s economic future is bright.
MARKET OVERVI EW
A large federal government presence, supported by an IRS regional processing center and military bases, will provide the dominant government sector with impressive growth over the next several years. A large portion of Austin’s manufacturing employment comes from technology companies. The metro’s largest manufacturers - Dell, Samsung, Apple, Google Fiber and Facebook - supply many of the local technology jobs. Dell is also the region’s largest private employer. Apple is currently building a $1 million-square foot campus in North Austin, which the company anticipates will add another 3,600 jobs to its local payrolls. Many major employers are based in the Austin MSA. Listed below are some of the companies who are providing new jobs everyday. Austin has added over 28,600 jobs in the last 12 months. U.S Mayors recently stated that Austin is ranked “1st in fastest job growth through 2020.”
NEW EMPLOYERS IN THE MSA Apple Computer, Inc. Box Dropbox Facebook Google Fiber
MAJOR EMPLOYERS 3M
St Davids Healthcare
Apple Computer, Inc
State of Texas
Austin Community College
University of Texas
Applied Materials
Whole Foods Market
Job Growth: Texas vs U.S. 2000-2013
Dell IBM Internal Revenue Service Microsoft
% Growth
National Instruments Seton Healthcare
“Austin has the third lowest unemployment rate in the nation.”
24
-Bureau of Labor This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
DEMOGRAPHICS
T
he Austin metro has consistently outperformed the nation in terms of population growth, with increased migration to the Sun Belt and significant development in the high-tech sector attracting job seekers. Since 2000, the metro population has grown nearly 50 percent. The region’s population will rise by 2.1 percent annually through 2018.
Austin boasts a well-educated population and ranks as one of the top cities in the nation for its educational attainment. Of residents ages 25 years and older, almost 40 percent possess a bachelor’s degree, far above the U.S. average. According to Forbes, Austin is ranked as the second most educated workforce this year. Additionally, 13.8 percent of residents in this age group have attained a graduate degree, about 3 percent above the U.S. average. The highly skilled labor force in Austin has raised the median household income to an estimated $60,200 annually, well above the nationwide median of $52,400 per year.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
MARK ET OVERVIEW
The large number of educational institutions and young professionals working in the region has contribute to Austin’s relatively young population. Recently Forbes magazine stated that “Austin is ranked 1st in attracting 24-35 year olds percent growth.” The median age of 33 years is well below the national median of 37.3 years. In addition, approximately 32 percent of the population is between the ages of 25 and 44 years, providing a large labor pool for employers.
25
Austin , Texas Skyline
http://cdn.anaheimoc.org/cdn/farfuture/US5kV-QkefTO6Hb44CxvvkJFUxDyDI6KXSVJDJh6dJM/mtime:1337729258/sites/default/files/image/3720/images/convention_center_worms_eye_view.jpg
DEMOGRAPHIC ANALYSIS DEMOGRAPHIC REPORT SUMMARY REPORT POPULATION DENSITY EMPLOYMENT DENSITY AVERAGE HOUSEHOLD INCOME TRAFFIC COUNT
DEMOGRAPHIC REPORT Population 2000 Population 2010 Population 2014 Population 2019 Population
3-Mile 81,761 106,746 117,397 126,516
5-Miles 194,394 236,909 258,382 277,288
10-Miles
Households
548,736 702,838 776,770 842,528
2000 Households 2010 Households 2014 Households 2019 Households
3-Mile
D EMOGRAPHIC ANALYSI S
5-Miles
10-Miles
7.90% 9.20% 12.60% 16.60% 22.50% 13.10% 8.00% 4.40% 3.70% 0.90% 1.20%
9.10% 10.00% 12.20% 16.10% 21.50% 12.90% 8.10% 4.30% 3.40% 1.10% 1.50%
10.70% 8.80% 9.90% 13.50% 18.40% 13.30% 9.40% 5.50% 5.40% 2.30% 3.00%
2014 Median Household Income
$53,940
$52,887
$58,791
2014 Per Capita Income
$28,265
$28,226
$32,853
2014 Average Household Income
$68,254
$68,799
$82,588
$ 0 - $14,999 $ 15,000 - $24,999 $ 25,000 - $34,999 $ 35,000 - $49,999 $ 50,000 - $74,999 $ 75,000 - $99,999 $100,000 - $124,999 $125,000 - $149,999 $150,000 - $199,999 $200,000 - $249,999 $250,000 +
3-Mile
10-Miles
33,937 43,999 48,535 52,758
80,283 96,737 105,851 114,434
216,679 276,361 306,514 334,547
2.41
2.43
2.48
2014 Daytime Population
57,068
127,634
354,071
2000 Owner Occupied Housing Units 2000 Renter Occupied Housing Units 2000 Vacant
47.26% 49.38% 3.37%
44.19% 52.17% 3.64%
50.12% 46.26% 3.62%
2014 Owner Occupied Housing Units 2014 Renter Occupied Housing Units 2014 Vacant
43.12% 56.88% 2.36%
42.05% 57.95% 2.62%
49.84% 50.16% 2.39%
2019 Owner Occupied Housing Units 2019 Renter Occupied Housing Units 2019 Vacant
42.72% 57.28% 2.51%
42.11% 57.89% 2.68%
49.96% 50.04% 2.44%
2014 Average Household Size
Income
5-Miles
DEMOGRAPHIC DATA © 2010 BY EXPERIAN/APPLIED GEOGRAPHIC SOLUTIONS.
28
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
SUMMARY REPORT Geography: 10 Miles Population
Race & Ethnicity
In 2014, the population in your selected geography is 776,769. The population has changed by 41.55% since 2000. It is estimated that the population in your area will be 842,528 five years from now, which represents a change of 8.46% from the current year. The current population is 50.12% male and 49.87% female. The median age of the population in your area is 31.9, compare this to the Entire US average which is 37.3. The population density in your area is 2,474.06 people per square mile..
The current year racial makeup of your selected area is as follows: 66.03% White, 10.77% Black, 0.08% Native American and 8.19% Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander.
There are currently 306,513 households in your selected geography. The number of households has changed by 41.45% since 2000. It is estimated that the number of households in your area will be 334,547 five years from now, which represents a change of 9.14% from the current year. The average household size in your area is 2.48 persons.
Housing In 2000, there were 112,674 owner occupied housing units in your area and there were 104,004 renter occupied housing units in your area. The median rent at the time was $657.
Income
Employment
In 2014, the median household income for your selected geography is $58,791, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 16.95% since 2000. It is estimated that the median household income in your area will be $68,877 five years from now, which represents a change of 17.15% from the current year.
In 2014, there are 354,070 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 71.96% of employees are employed in white-collar occupations in this geography, and 28.01% are employed in blue-collar occupations. In 2014, unemployment in this area is 5.11%. In 2000, the average time traveled to work was 24.3 minutes.
DEMOGRAPHIC ANALYS IS
Households
People of Hispanic origin are counted independently of race. People of Hispanic origin make up 29.88% of the current year population in your selected area. Compare this to the Entire US average of 17.13%.
The current year per capita income in your area is $32,852, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $82,588, compare this to the Entire US average which is $74,533.
DEMOGRAPHIC DATA © 2010 BY EXPERIAN/APPLIED GEOGRAPHIC SOLUTIONS. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
29
D EMOGRAPHIC ANALYSI S
POPULATION DENSITY
N E
W S
DEMOGRAPHIC DATA © 2010 BY EXPERIAN/APPLIED GEOGRAPHIC SOLUTIONS.
30
Theme
Low
High
Low
Less Than
55
Below Average
55
475
Average
475
4,100
Above Average
4,100
35,000
High
35,000
or More
Number of people living in a given area per square mile.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
EMPLOYMENT DENSITY
DEMOGRAPHIC ANALYS IS
N E
W S
DEMOGRAPHIC DATA © 2010 BY EXPERIAN/APPLIED GEOGRAPHIC SOLUTIONS.
Theme
Low
High
Low
Less Than
9
Below Average
9
96
Average
96
1025
Above Average
1025
10875
High
10875
or More
Number of people living in a given area per square mile.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
31
D EMOGRAPHIC ANALYSI S
AVERAGE HOUSEHOLD INCOME
N E
W S
DEMOGRAPHIC DATA © 2010 BY EXPERIAN/APPLIED GEOGRAPHIC SOLUTIONS.
32
Theme
Low
High
Low
Less Than
$29,500
Below Average
$29,500
$48,500
Average
$48,500
$80,000
Above Average
$80,000
$132,500
High
$132,500
or More
Number of people living in a given area per square mile.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2011 Marcus & Millichap ACT ID: W0160307
Austin , Texas Skyline
BRUCE BENTLEY III
Net-Leased Property Group Austin Office Office: (512) 338-7867 License: TX: 622963
[email protected] www.marcusmillichap.com/BruceBentley
DOUGLAS DIFFIE
Net-Leased Property Group Austin Office Office: (512) 338-7872 License: TX: 656858
[email protected] www.marcusmillichap.com/DougDiffie
