The Investment Property Division of Coldwell Banker Commercial in Brenham (“CBC Brenham”) is proud to present Longoria’s TRADE CENTER OF GIDDINGS in the city limits of Giddings (the “Trade Center”).
The Trade Center includes three buildings in excellent condition with a total estimated 7,490 SF complemented by 1,514 SF of porches. The Trade Center is on 2.187 acres with approximately 224’ of frontage on US Highway 290 (“the Austin Highway”) at $681,347.
We believe the location, US 290 frontage, new construction adjacent and across the street, acreage providing significant room for expansion, generous SF and 100% FINANCING AVAILABLE make the Trade Center a persuasive alternative for retail, professional or service entrepreneurs as well as for real estate investors.
HIGHLIGHTS
(1) 2.1+ acres, 7,490 SF in excellent condition (majority built since 2000) in the city limits of Giddings.22...
(1) 2.1+ acres, 7,490 SF in excellent condition (majority built since 2000) in the city limits of Giddings.224’ of frontage on US Highway 290, the primary corridor between Houston and Austin.
(2) Related business, Longoria Plumbing Supply, is also for sale.
(3) Up to 100% FINANCING available for the real estate and/or the business including land, new construction, improvements and capital equipment.
(4) Traffic volume exceeds 25,000 today and projected to exceed 40,000 within 3 years.
(5) Immediately adjacent to recently built Ramada Inn Limited and across the highway from a new Texaco Convenience Store.
(6) 53 miles from Austin and 86 miles from Houston.
(7) Six retail opportunities with unmet 2008 local retail demand in excess of $1,000,000 per year at a 3-mile radius.
(8) Six retail opportunities with unmet 2008 local retail demand in excess of $500,000 per year at a 2-mile radius.
(9) Immediate area key demographic and econometric indicators confirm faster population growth and greater current and future incomes compared to the City of Giddings.
(10) Outstanding Lee County economy ranks # 1 in six key demographic and econometric indicator and # 2 in four key indicators compared to all contiguous rural counties (Burleson, Fayette, Milam and Washington County).
Call 979.421.9810 to contact any member of the Bahia Team: Diane Alexander, Tootie Lyons, George Alexander or Chris DeAlmeida.
You can also contact the Bahia Team by email to the address identified in the attached graphic: "Web Links and Team Email".
LONGORIA PLUMBING SUPPLY IS ALSO FOR SALE
The business known as Longoria Plumbing Supply currently operating at the Marketplace is also for sale. It is priced at $339,114 including inventory currently estimated at approximately $250,000.
The business is listed by an affiliated company, Alexander Tiffany, LLC (“AT”). AT specializes in ownership equity transactions.
To request information about the business, send an email to the listing team address in the attached graphic: "Web Links and Team Email".
FINANCING
With a unique combination of loan alternatives including subordinated owner financing, you can take advantage of 100% financing of the real estate and/or the business.
Financing can include land, new construction, improvements and capital equipment.
Considerations:
A decision on subordinated owner financing is at the complete discretion of the owner. Factors that may be considered include qualifications, terms, equity structure, site and/or development plan and others.
Terms:
The interest on the subordinated mortgage is two percent or 200 basis points above your first mortgage. For example, the first mortgage is at 6.25%. The subordinated mortgage will be at 8.25%. If the first mortgage adjusts, the subordinated mortgage adjusts at the same time.
Amortization Schedule:
Payments based on a 30-year amortization schedule.
Balloon:
The final balloon payment is due in five-years.
PROPERTY
The Marketplace is comprised of three distinct buildings.
City Utilities:
The Marketplace benefits from having all city utilities on-site and operating.
Consistent Austin Hill Country Theme:
Although each Marketplace has distinct current functions, they incorporate a similar design theme that is consistent and complementary throughout the Marketplace.
Each of the Marketplaces feature covered front porches traversing the front of the buildings and metal roofs that suggest the opportunity for you to incorporate an “Austin Hill Country” theme into your sight plan.
Marketplace # 1:
Marketplace # 1 was built for and is currently occupied by the property owner, Longoria Building Supply. Marketplace # 1 was built in 2005. It is a metal building with a metal roof and is in outstanding condition. It has 5,000 SF. The Marketplace features a 5’ covered front porch with a cement foundation across the entire front facing the Austin Highway with an estimated 250’ SF. The primary business area of Marketplace # 1 is a 2,000 SF showroom with two offices and two restrooms. It has large picture windows across the front of the building facing the Austin Highway.
A 2,750 SF warehouse is the remainder of the building. A 20’+ high by 25’+ wide rolling metal door provides easy rear access to the warehouse area. With substantial gravel parking and drive ways and access roads, the warehouse can be served by 18 wheelers with ease.
With a professional storage design incorporating shelving and storage capacity additions over the top of the showroom, we estimate the total usable storage SF in Marketplace # 1 to be approximately 6,000 SF.
Marketplace # 2:
Marketplace #2 was built in 1994 with 1,472 SF of living area. Based on a residential design, it features an open floor plan complemented by 624 SF of porches including an architecturally inspired metal roof and covered porch facing the Austin Highway.
It benefits from an additional 224 SF of storage area.
Marketplace #3:
Completed in 2002, Marketplace # 3 currently serves as the owner’s residence. It is a Hill Country design with a covered porch across the entire front and a metal roof. It has 2,368 of floor space.
Designed to accommodate a business or professional future owner, the interior is configured into distinct areas and complemented by expansive hardwood floors in excellent condition.
Marketplace Loading Area:
When Marketplace # 1 was constructed, the owner’s thoughtfully added 1,120 SF of cement loading area behind the building. It is approximately 6” thick and provides an excellent platform for loading and unloading inventory and equipment.
Fenced and Secure Outdoor Storage Area:
To support the current owner’s plumbing supply business, the area in front of Marketplace # 2 was fenced with cyclone fencing and locked gates. This area encompasses approximately 9,750 SF with a double gate facing toward Marketplace # 1.
Gravel Drive and Parking:
The Marketplace is currently served by a well planned, extensive and well packed gravel drives and parking areas. This gravel area expands the functionality and usability by approximately 22,400 SF and represents a significant investment and improvement for your consideration.
LOCATION
(1) Directly on US Highway 290, the primary corridor between Houston and Austin.
(2) Immediately adjacent to the new Ramada Inn Limited and across the street from a new Texas Convenience Store.
(3) 20 miles from La Grange. 22 miles from Round Top. 30 miles from Brenham.
(5) 40 miles from Interstate 10.
(6) 52 miles from Interstate 35.
(7) 52 miles from Austin, Texas.
(8) 87 miles from Houston, Texas.
TRAFFIC VOLUME AND ANALYSIS
AT estimates current average daily two-way traffic volume for the Marketplace at 26,800. AT estimates the average daily two-way traffic volume on US 290 passing the Marketplace to exceed 40,000 within three years (in the fourth quarter of 2011).
CONCEPTUAL PLAN
AT developed a conceptual sight plan for the Marketplace to demonstrate the flexibility and value to a potential tenant or new owner.
This plan defines the addition of 6 Marketplace buildings. For simplicity, each new building is based on a 3,000 SF foot print.
This plan is for demonstration purposes only.
MICRO DEMOGRAPHIC AND ECONOMETRIC KEY INDICATORS
AT performed micro demographic and econometric analysis to evaluate the immediate area using 1-mile, 2-miles and 3-miles (“Immediate Area”) as benchmarks.
Our findings indicate that the Immediate Area has significantly higher growth projections combined with significantly greater current and future wealth per capita as compared to the City of Giddings.
The following summarizes these findings:
(1) Annual percentage of population growth projected at 1.36% to 1.43% in the Immediate Area between 2008 and 2012 compared to Giddings at 1.22%
(2) 2008 average household incomes range from $43,731 to $50,048 in the Immediate Area compared to Giddings at $43,998
(3) Annual percentage of effective buying income growth projected at 1.95% to 1.21% in the Immediate Area between 2008 and 2012 compared to Giddings at 1.71%
(4) Annual percentage of consumer spending growth projected at 5.58% to 5.82% in the Immediate Area between 2008 and 2012 compared to Giddings at 5.26%
(5) 2008 effective household incomes range from $51,969 to $59,929 in the Immediate Area compared to Giddings at $51,412
(6) Annual percentage of household income growth projected at 2.04% to 2.27% in the Immediate Area between 2008 and 2012 compared to Giddings at 1.89%
(7) Percent of 2008 household with annual incomes of at least $100,000 at 10.35% to 12.57% in the Immediate Area compared to Giddings at 9.63%
(8) Percent of 2012 household with annual incomes of at least $100,000 at 12.81% to 17.39% in the Immediate Area compared to Giddings at 11.14%
(9) Annual percent growth of households with annual incomes of at least $100,000 at 5.06% to 10.61% in the Immediate Area between 2008 and 2012 compared to Giddings at 4.07%
(10) Percent of 2008 household with annual incomes of at least $150,000 at 2.28% to 3.72% in the Immediate Area compared to Giddings at 3.17%
(11) Percent of 2012 household with annual incomes of at least $150,000 at 2.96% to 6.52% in the Immediate Area compared to Giddings at 3.53%
(12) Annual percent growth of households with annual incomes of at least $150,000 at 4.33% to 37.39% in the Immediate Area between 2008 and 2012 compared to Giddings at 2.09%
COMPARATIVE RURAL COUNTY MARKET DEMOGRAPHIC AND ECONOMETRIC ANALYSIS
AT performed preliminary analysis of key demographic and econometric indicator comparing lee County to the four rural contiguous counties: Burleson, Fayette, Milam and Washington County (“Comparative Counties”).
In this analysis Lee County economy ranks # 1 in six key econometric and demographic indicators and # 2 in four key indicators compared to the Contiguous Counties. The following are highlights of these findings:
(1) #1 in annual percentage of total economic growth
(2) # 1 in population percentage growth
(3) #1 in annual percentage growth in consumer spending
(4) #1 in average household income
(5) #1 in effective household income
(6) #1 in percentage of families with annual incomes of at least $100,000 in 2012
(7) #2 in annual percentage growth in average household income
(8) #2 in percentage of families with annual incomes of at least $100,000 in 2008
(9) #2 in annual percentage growth in families with average household incomes of at least $150,000
(10) #2 in annual percentage growth in families with average household incomes of at least $150,000
RETAIL GAP ANALYSIS
AT performed retail gap analysis to identify 2008 unmet local consumer demand for retail services and products.
Averages at 3-Mile Radius:
At a 3-mile radius, the averages for the top categories:
(1) Top 3 average $1.6+ million at a 3-mile radius
(2) Top 5 average $1.5+ million
(3) Top 10 average $1+ million
Averages at 2-Mile Radius
At a 2-mile radius, the averages for the top categories:
(1) Top 3 average $875+ thousand
(2) Top 5 average $750+ thousand
(3) Top 10 average $500+ thousand
3-Mile Radius Details:
AT identified six distinct opportunities that each have unmet local retail demand in excess of $1,000,000 per year. The following are the top 10 categories:
(1) Food service and drinking at $1.8+ million
(2) General merchandise at $1.4+ million
(3) Department store (excluding leased departments) at $1.4+ million
(4) Clothing and accessories at $1.4+ million
(5) Home center (mini-Home Depot excluding appliances) at $1.4+ million
(6) Health (excluding medical and physicians) at $1.1+ million
(7) Consumer electronics at $475+ thousand
(8) Appliances at $400+ thousand
(9) Special foodservices at $300+ thousand
(10) Furniture store at $275+ thousand
2-Mile Radius Details:
AT identified six distinct opportunities that each have unmet local retail demand in excess of $500,000 per year. The following are the top 10 categories:
(1) Food service and drinking at $1+ million
(2) General merchandise at $850+ thousand
(3) Department store (excluding leased departments) at $725+ thousand
(4) Health (excluding medical and physicians) at $675+ thousand
(5) Clothing and accessories at $575+ thousand
(6) Home center (mini-Home Depot excluding appliances) at $575+ thousand
(7) Consumer electronics at $175+ thousand
(8) Appliances at $175+ thousand
(9) Furniture store at $150+ thousand
(10) Special foodservices at $100+ thousand
Note this is local demand only and does NOT include demand from travelers.
GROWTH IN CONSUMER SPENDING
From 2008 through 2012, Lee County projected annual growth in total consumer spending projected at 5.71% and the City of Giddings projected at 5.26%. Projections in the immediate area range from 5.58% to 5.82%.
Top Categories by Annual Dollar Projected Growth:
The following are the top 10 categories, excluding categories that do not fit the property such as a big box stores, ranked by annual dollar growth in consumer spending at a 3-mile radius:
(1) Health and personal care (excluding medical and physicians) at $700+ thousand
(2) Prescriptions at $550+ thousand
(3) Dining out at $475+ thousand
(4) Food at home at $375+ thousand
(5) Apparel and accessories at $300+ thousand
(6) Used autos at $250+ thousand
(7) Consumer electronics at $225+ thousand
(8) Lunch out at $175+ thousand
(9) Vehicle maintenance and repair at $150+ thousand
(10) Tuition and school supplies at $150+ thousand
Top Categories by Annual Percentage Growth:
The following are the top 10 categories, excluding categories that do not fit the property such as a gas station/convenience store or big box stores, ranked by annual percentage growth in consumer spending at a 1-mile radius:
(1) Prescriptions at 11.3%
(2) Snacks and non-alcoholic beverages at 8.9%
(3) Breakfast out at 8.1%
(4) Tuition and school supplies at 7.0%
(5) Appliances at 6.8%
(6) Used autos at 6.7%
(7) Consumer electronics at 6.6%
(8) Lunch out at 6.5%
(9) Alcohol at home at 6.3%
(10) Pet related at 5.6%
Note this is local consumer spending only and does NOT include spending by travelers.
LEE COUNTY ECONOMY
The Lee County economy compares very favorably to its contiguous rural counties (Burleson, Fayette, Milam and Washington County), in key demographics and econometrics. Robust economy projected to grow by 5.7%+ per year and exceed $500 million in 2013.
TAXES
Taxes are based on 2007 actual and increased by 8% to estimate 2008. A portion of the property has a homestead exemption. Consult your tax advisor regarding any tax questions specific to your situation.
ADDITIONAL INTERNET LINKS
See the attached graphic "Web Links and Team Email" for the following additional links
(1) Dedicated website
(2) Link to listing website with all graphics and pictures utilized in the Pavilions offerings in PDF or JPG files for easy downloading
(3) Link to all demographic and econometric reports utilized in Pavilions offering in PDF files for easy downloading
EMAIL TO YOU WHEN WE LIST NEW PROPERTIES THAT MEET YOUR SPECIFICATIONS
We offer immediate email contact when we list properties in categories you have expressed an interest.
Please send an email to to the address identified in the attached graphic: "Web Links and Team Email" with your specifications.
DISCLOSURE OF RELATIONSHIP BETWEEN AT AND CBC BRENHAM
AT is an owner of the company that owns CBC Brenham. AT provides ownership transaction services, private equity, management, financing and consulting to affiliates and clients.
ANALYSIS, GRAPHICS AND MEASUREMENT REFERENCES
All references to "Analysis" in this listing refer to analysis performed by AT on behalf of CBC Brenham. Analysis is preliminary and based on proprietary systems and models. Analysis is time sensitive and based on assumptions stated. All graphics are artist renderings only to provide a reasonable representation.
Measurements are Analysis estimates only to provide a reasonable representation. AT provides no explicit or implied warranty regarding the accuracy of renderings and measurements.
USE OF COPYRIGHTS AND LIMITATIONS
U.S. and international copyright laws protect analysis, graphics, images, narrative and other listing content. Analysis is for the specific and limited use of prospective purchasers or their legal representatives in evaluating the acquisition of The Estates. Any other use, copying, modifying, reference to or reproduction is strictly prohibited without the express written consent of AT.
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