Vacant Restaurant Redevelopment Site

Transcription

1 Vacant Restaurant Redevelopment Site Call For Offers Deadline November 15 th Representative Photo 8466 Gratiot Avenue Saginaw, Michigan, 48609

2 Offering Price: $300,000 Rolling Bid Process That Will Conclude With a Call For Offers on November 15, 2018 All Offers Will Be Considered Transactions Can Move Forward Prior to Call For Offers Date Third Party Diligence Reports can be Shared Prior to Signed Purchase and Sale Agreement with Accepted Offer, Proof Of Funds, and Signed NDA Location 8466 Gratiot Avenue Saginaw, MI Price $300,000 Price Per SF $54 Building Size 5,520 sq ft Lot Size 1.65 acres INVESTMENT HIGHLIGHTS 2

3 Address List Price 456 East Elbert St, Indianapolis, IN $750, West 71st Street, Indianapolis, IN $700, E State Rte. 44, Shelbyville, IN $750, W Pike St, Goshen, IN $825, Preston Highway S, Louisville, KY $1,200, Dequindre Rd, Warren, MI $650, S. Center Road, Flint, MI $360, Pierson Rd, Flint, MI $650, Gratiot Ave, Saginaw, MI $300, Highway 54, Osage Beach, MO $1,000, St. Louis Mills Blvd, Hazelwood, MO $925, Transit Rd, Williamsville, NY $825, Harshman Rd, Dayton, OH $500, Dixie Hwy, Fairfield, OH $850, Glendale Ave, Toledo, OH $500,000 Call For Offers: Bid Deadline November 15 th FF&E Included in Sale Avg. Building Size of 5,100 SF on 1.37 Acres Strong Inherent Real Estate Fundamentals Located in Dense Retail Corridors High Alternative Use for Development All Sites Recently Remodeled Geographical Composition INDIANA 4 KENTUCKY 1 MICHIGAN 4 MISSOURI 2 NEW YORK 1 OHIO 3

4 SURROUNDING AREA MAP 4

5 Location Highlights Major National Retailers in Surrounding Area Include: The Home Depot, Tractor Supply company, Dollar General, Meijer, Burger King, McDonald s Two Hotels Within One Mile Over 120 Rooms Four Schools Within Two Miles Combined Enrollment of Over 3,800 Students Strong Traffic Counts in the Area Gratiot Avenue 29,761 Vehicles Daily Location Overview This Bob Evans property is located at 8466 Gratiot Avenue in Saginaw, Michigan. Saginaw is a the seat of Saginaw County and is located in the Central Michigan area. Surrounding Retail and Points of Interest Major national and local retailers in the area include: The Home Depot, Tractor Supply company, Dollar General, Meijer, Burger King, McDonald s, Wendy s, Taco Bell, and many others. There are two hotels located within one mile of the subject property. They are Gratiot View Motel and Sleep-Ees Inn Saginaw. Together they have over 120 rooms. This subject property also has four schools located within two miles. They are Community Baptist Christian School, Robert B. Havens Elementary School, Swan Valley Middle School, and Swan Valley High School. Together they have a combined enrollment of over 3,800 students. ADTC 29,761 Saginaw, MI Traffic Counts and Demographics There are approximately 16,379 individuals residing within a three-mile radius of the property and more than 53,953 individuals within a five-mile radius. The subject property is located on Gratiot Avenue. This portion of Gratiot Avenue sees average daily traffic counts of 29,761 vehicles. Saginaw, Michigan Currently, economic development is focused on comparative advantages in innovation, clean energy, and continued manufacturing exports. Compared to other communities of the same size, Saginaw has a high number of patents per employee, leading to a thriving environment for innovation. In terms of higher education, the city is served by Delta College and Saginaw Valley State University as well as a campus of Davenport University. Saginaw has also been a world leader in electronic power steering, polycrystalline silicon, and research & development. The city s easy access to Interstate-75 in turn leads to easy access to neighboring states as well as Canada for commerce and development purposes. Manufacturing continues to be a large part of the city s economy due to the prevalence of many General Motors plants. LOCATION OVERVIEW 5

6 LOCAL MAP 6

7 REGIONAL MAP 7

8 Saginaw, MI Population In 2014, the population in your selected geography is 24,090. The population has changed by 7.34% since It is estimated that the population in your area will be 24,696 five years from now, which represents a change of 2.51% from the current year. The current population is 48.86% male and 51.13% female. The median age of the population in your area is 37.8, compare this to the Entire US average which is The population density in your area is people per square mile. Income In 2014, the median household income for your selected geography is $49,523, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 6.67% since It is estimated that the median household income in your area will be $56,854 five years from now, which represents a change of 14.80% from the current year. The current year per capita income in your area is $29,222, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $67,772, compare this to the Entire US average which is $74,533. Employment In 2014, there are 13,646 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 64.11% of employees are employed in white-collar occupations in this geography, and 35.83% are employed in blue-collar occupations. In 2014, unemployment in this area is 6.13%. In 2000, the average time traveled to work was 21.1 minutes. POPULATION 1-Mile 3-Mile 5-Mile ,552 16,641 54, ,498 16,379 53, ,587 16,884 54, HOUSEHOLD INCOME 1-Mile 3-Mile 5-Mile Average $68,626 $64,396 $67,772 Median $52,075 $48,811 $49,524 TOP EMPLOYERS IN SAGINAW COUNTY Employer Nexteer Automotive General Motors Michigan Sugar Company DEMOGRAPHICS 8

9 Glen Kunofsky Tel: (212) License: 49KU Matthew Anuszkiewicz Tel: (212) License: Daniel Price Tel: (646) License: Jeff Azuse Senior Vice President 5 Revere Drive - Suite 320 Northbrook, IL (d) (m) jazuse@hilcoglobal.com