SVN Live 10.21.24 Weekly Property Broadcast

SVNIC 153 views 40 slides Oct 20, 2024
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About This Presentation

The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.


Slide Content

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A recent working paper by the National Bureau of Economic Research shows that average property insurance premiums have climbed more than 30% since 2020 with large location-based variation. Intuitively, premiums have risen fastest for homeowners in areas with a higher risk of natural disasters such as hurricanes or wildfires. Still, the relationship between disaster risk and premiums has grown stronger over time as the rate of natural disasters rises and long-term trends become less predictable. Rise in risk premiums between 2018 and 2023 coincides with a doubling of US property and casualty reinsurance costs. They point to several reasons for this "reinsurance shock," including an uptick in migration of the US population towards increasingly risky areas, rising interest rates, and an overall reassessment of climate risks by re-insurers. Disaster Risk and Rising Home Insurance Premiums

$ 8,000,000 3,516 acres $2,275 627 acres of pasture 1,313 acres cleared for conversion to pasture or reforestation 68 acres of merchantable planted pine Two homes, barn, cattle working pens LAND | US 19 SOUTH | TENNILLE, FL SVN | SAUNDERS RALSTON DANTZLER Dean Saunders, ALC, CCIM [email protected] 863.287.8340 John A. “Tony” Wallace, CF [email protected] 352.538.7356 Greg Driskell [email protected] 386.867.2736 Dusty Calderon [email protected] 407.908.9525

$ 7,900,000 52 units $107,638 52 unit LIHTC Cash buyer Multiple offers received Set-asides adjusted during listing period MULTIFAMILY | 10125 SE BOB SCHUMACHER RD | HAPPY VALLEY, OR SVN | IMBRIE Hugh Holtman [email protected] 503.208.9393 6.97

$ 7,750,000 72 units $107,638 72 units at over $107K+/door 6% cap 97% occupancy Avg rent 23% under market Crucial workforce housing in Toyota’s backyard Value-add rent growth opportunity Attractive seller financing MULTIFAMILY | 101-113 PINE TREE PATH | GEORGETOWN, KY SVN | STONE COMMERCIAL REAL ESTATE Justin Ryder [email protected] 859.447.3285 Rachel Ridd [email protected] 859.327.7261 Harrison Lane [email protected] 859.537.1051

$2,800,000 21,622 SF $129 Class A office/flex building The air compressor and 375KW generator are available outside of escrow Co-listed with Jeremy Leever with Pulver & Leever (541)773-5391 OFFICE | 8925 ROGUE RIVER HIGHWAY | GRANTS PASS, OR SVN | COMMERCIAL ADVISORS, LLC Curt Arthur, SIOR curt.arthur @svn.com 503.588.0400

$ 1,075,000 22,397 SF $48 5-building investment portfolio Sold to local investor group (repeat client) Listed to closed in 64 days Well below market rents and immediate upside INDUSTRIAL | 7105 & 7139 E 46TH STREET | INDIANAPOLIS, IN SVN | NORTHERN COMMERCIAL Wade Wilson [email protected] 317.863.9271 Jess Lawhead [email protected] 317.454.2241

$X $68,174,998+

RETAIL | 5850 W ATLANTIC AVENUE | DELRAY BEACH, FL $18,000,000 $180,000 63,629 SF -+/- 64,000 SF Retail/Medical Plaza on over 8 acres in the high-demand Delray Beach market All leases are NNN, protecting an investor from rising operating costs impacting net operating income 800-feet of frontage on Atlantic Ave with 50,000 vehicles/day Prime 1-acre outparcel has potential to generate significant additional net income via ground lease Rents +/-20% below market Year 3: 8.8% SVN | COMMERCIAL PARTNERS Elon Gerberg elon.gerberg @svn.com 561.485.1129 Adam H. Klein adam.klein @svn.com 561.282.9296 Michael Barashick [email protected] 561.226.4301 $283

HOSPITALITY | 604 LAKE AVE | LAKE WORTH BEACH, FL $4,250,000 $106,250 7,064 SF Full-Service, Turn-Key Restaurant with FF&E $2M Gut-Renovation in 2022 Two Bars, Patio Seating, +750 SF Second Story Office Prime Downtown Lake Worth Beach location with 90 feet of frontage on Historic Lake Ave, a walkable and vibrant submarket Surrounded by boutiques, restaurants, minutes from the beach, iconic hotels, and close to major attractions and highways 6.34% SVN | COMMERCIAL PARTNERS Michael Barashick [email protected] 561.226.4301 Elon Gerberg [email protected] 561.485.1129 Adam H. Klein [email protected] 561.282.9296 $602

LAND | 1130 DALE ACRES | MILFORD, TX $10,000,000 $200,000 386+ acres 4 megawatts power on site/upgradable to 5 megawatts 2 office buildings and one barn/hangar on the property I-35 Hwy frontage $25,907+ SVN | VELER COMMERCIAL Tim Veler, CCIM tim.veler @svn.com 214.300.1355 Ben Veler [email protected] 214.733.3671

MARINA | 6603 LAKE TULLOCH PLACE | COPPEROPOLIS, CA $7,700,000 $231,000 1.61 acres The only Marina and Restaurant/Bar in a highly coveted vacation destination The only self-service dockside fuel on Lake Tulloch 48 wetslips/19 dry storage bays Type 47 liquor license 2 bedroom owners condo located above the business included in the sale (optional) Visit www.SVNMarinas.com to learn more 6% SVN | SAFE HAVEN ADVISORS Josh Sheppard josh.sheppard @svn.com 407.399.1120 David Kendall david.kendall @svn.com 561.723.8463 6% SVN | VANGUARD Cameron Irons cirons @svn.com 949.558.0301

MULTIFAMILY | 1148 37TH PI NE | SALEM, OR $5,800,000 $91,350 36 units 55+ community w/ ADA hallways and bathrooms Over $500,000 in updates recently: New roof in 2020, elevator & common area upgrades Newer siding and windows in majority of building All 2 bed units with laundry $161,111 SVN | IMBRIE REALTY Hugh Holtman [email protected] 503.208.9393 5.75% SVN | COMMERCIAL ADVISORS, LLC Curt Arthur, SIOR curt.arthur @svn.com 503.588.4146

LAND | 5600 W 2150 S | WEST VALLEY CITY, UT $5,500,000 Nov 6 - 12 Up to 2% UDOT online auction Nov. 6th thru 12th 13.5 acres zoned industrial Fast growing Inland Port area Unbeatable visibility from Mountain View Highway www.UDOTAuctions.utah.gov 13.57 acres 6.20% SVN | AUCTION SERVICES David Gilmore, CCIM, CAI, AARE [email protected] 504.228.6606 Tia Shim, Esq. [email protected] 385.302.3752 Louis B. Fisher, III, CAI [email protected] 954.931.0592

LAND | 5750 W 2500 S | WEST VALLEY CITY, UT $3,200,000 Nov 6 - 12 Up to 2% UDOT online auction Nov. 6th thru 12th 7.3 acres zoned industrial Mountain View Hwy visibility Close to Inland Port transportation networks www.UDOTAuctions.utah.gov 7.393 acres 6.20% SVN | AUCTION SERVICES David Gilmore, CCIM, CAI, AARE [email protected] 504.228.6606 Tia Shim, Esq. [email protected] 385.302.3752 Louis B. Fisher, III, CAI [email protected] 954.931.0592

LAND | 2400 W SHEPARD LANE | FARMINGTON, UT $1,750,000 Nov 6 - 12 Up to 2% UDOT online auction Nov. 6th thru 12th Pristine conservation easement land Located minutes from Farmington City Bordered by the Wasatch Mountains www.udotauctions.utah.gov 84.34 acres 6.20% SVN | AUCTION SERVICES David Gilmore, CCIM, CAI, AARE gilmored @svn.com 504.228.6606 Tia Shim, Esq. tia.shim @svn.com 385.302.3752 Louis B. Fisher, III, CAI [email protected] 954.931.0592

LAND | 5750 W 2400 S | WEST VALLEY CITY, UT $1,675,000 Nov 6 - 12 Up to 2% UDOT online auction 3.56 acres industrial Great visibility off Mountain View Hwy Close to Inland Port transportation www.UDOTauctions.utah.gov 3.565 acres 6.20% SVN | AUCTION SERVICES David Gilmore, CCIM, CAI, AARE [email protected] 504.228.6606 Tia Shim, Esq. [email protected] 385.302.3752 Louis B. Fisher, III, CAI [email protected] 954.931.0592

LAND | 5750 W 2300 S | WEST VALLEY CITY, UT $1,250,000 Nov 6 - 12 Up to 2% UDOT online auction Nov. 6th thru 12th 2.14 acres zoned industrial Close proximity to Inland Port's transportation networks Just off Mountain View Hwy www.UDOTAuctions.utah.gov 2.14 acres 6.20% SVN | AUCTION SERVICES David Gilmore, CCIM, CAI, AARE [email protected] 504.228.6606 Tia Shim, Esq. [email protected] 385.302.3752 Louis B. Fisher, III, CAI [email protected] 954.931.0592

LAND | WASHINGTON FIELDS ROAD, EAST OF SR-7 | WASHINGTON, UT $1,050,000 Nov 6 - 12 Up to 2% UDOT online auction Nov. 6th thru 12th 6 acres zoned commercial Exceptional development opportunity Minutes from St. George Regional Airport www.UDOTAuctions.utah.gov 6 acres 6.20% SVN | AUCTION SERVICES David Gilmore, CCIM, CAI, AARE [email protected] 504.228.6606 Tia Shim, Esq. [email protected] 385.302.3752 Louis B. Fisher, III, CAI [email protected] 954.931.0592

OFFICE | 711 N COMMONS DRIVE | AURORA, IL $3,999,999 $120,000 53,818 SF 53,818 SF two-story, single tenant office building Professionally managed, well-maintained building 6.94 acre site 380 parking spots (7.15/1000 SF) $74 6.20% SVN | CHICAGO COMMERCIAL Olivia Czyzynski [email protected] 312.676.1862 Jennifer Hopkins, MBA [email protected] 630.335.6285 Caitlin Crawford [email protected] 773.971.8317

INDUSTRIAL | 271 COUNTY ROAD 64 | BIG FLATS, NY $3,999,999 $80,000 270,153 SF 270,153 SF industrial building Ample space for manufacturing operations Versatile layout for industrial customization Strategic location for logistical efficiency Strong investment opportunity in industrial sector $15 6.20% SVN | INNOVATIVE COMMERCIAL ADVISORS Scott Warren, CCIM, CIREC scott.warren@ svn.com 607.621.0439 Angela Martinez , CIREC [email protected] 607.651.3976

SPECIAL PURPOSE | 9 PARK PL | CORNING, NY RFP 2% 13,673 SF Southside Hill with city views, near Corning Museum of Glass and top amenities 22 rooms, 14 bedrooms, and 11 bathrooms offering flexibility and comfort Perfect for a boutique hotel, event venue, restaurant, or corporate HQ RFP submissions only, seeking concepts that honor its heritage $15 6.20% SVN | INNOVATIVE COMMERCIAL ADVISORS Scott Warren, CCIM, CIREC [email protected] 607.621.0439 Angela Martinez, CIREC [email protected] 607.651.3976

SELF STORAGE | 4129 HWY 15 N STE 2 | LAUREL, MS $3,050,000 $91,500 64,235 SF Strategically located across three thriving cities in Mississippi: Hattiesburg, Ellisville, and Laurel 3 properties; 63,235 SF; 354 Units Unique opportunity to acquire well-maintained, income-generating facilities with remote management in place, positioned in expanding markets EZ lock storage in Laurel includes 10 retail office spaces & an on-site billboard, providing additional revenue potential $47 6.20% SVN | WILSON COMMERCIAL GROUP, LLC Kristen Asman kristen.asman @svn.com 614.370.9077 SVN | TOOMEY PROPERTY ADVISORS Kateleigh Calloway [email protected] 205.937.2299 Justin Toomey [email protected] 251.544.5484

MULTIFAMILY | 1224 S HIGH ST | LONGVIEW, TX $3,000,000 $75,000 1.12 Acres, 39 Units, 35,000 SF Just 100 miles from the DFW Metroplex For a qualified buyer, ownership is offering to prepay 3 years of estimated property taxes, in an escrow account Property is currently operating at capacity with waiting list, which merits rental increase consideration Management has concluded RUB system would further expand NOI by reducing overall utility expenses for the property 7.47% SVN | TRINITY ADVISORS Scott Henderson scott.henderson @svn.com 214.808.4359 Niki Hatzenbuehler niki.hatzenbuehler @svn.com 817.454.0051

GOLF & RESORTS | 17931 W COUNTY RD 74E | RED FEATHER LAKES, CO $2,995,000 $59,900 137.62 acres An authentic, all-inclusive Colorado dude ranch nestled in the stunning Rocky Mountains Offers a range of outdoor activities, including horseback trail rides Accommodations include 4 lodge rooms & 3 rustic cabins, sleeping 24 Features 36 holes of disc golf, perfect for events like weddings or reunions Located less than 2 hours from Denver and 40 minutes from Fort Collins Broker of Record: Michael A. Corbey $21,763 6.20% SVN | NORTHCO Edward Rupp [email protected] 952.820.1634 Mark Battles [email protected] 952.820.1633

OTHER | 5949 SADLER ROAD | ZELLWOOD, FL $2,350,000 Nov 11-13 2.5% AUCTION PROPERTY: https://www.ten-x.com/listing/5949-sadler-rd-apopka-fl-32712/31791176/ 230,000 sq. ft. on 80 acres, 40 minutes from Disney in NW Orlando Potential for long-term redevelopment with utilities nearby Ideal for agriculture/food use with climate-controlled grow area and cold storage Recent upgrades: new roof, ample electricity, and fire suppression system 230,000 SF 6.20% SVN | SAUNDERS RALSTON DANTZLER David Hungerford, CCIM, SIOR [email protected] 863.660.3138 Augie Schmidt [email protected] 863.409.2400 Chad Johnson [email protected] 352.535.5320

SELF STORAGE | 3 PROPERTY PORTFOLIO - 412 10TH ST | ONAWA, IA $2,000,000 $45,000 43,764 SF 3 properties Management works for free Management team willing to stay after sale 99% leased up (two units vacant) Tenant waiting list 3 different locations Farthest location is 7 min North of Onawa which is in Whiting, IA Office at main location (412 10th St, Onawa) Land available for expansion $46 7.47% SVN | CREATE COMMERCIAL ADVISORS Jack Luster [email protected] 618.292.1075 Harrison Haynes [email protected] 563.451.5909

RETAIL | 1230 STATE STREET | SALEM, OR $1,900,000 $47,500 5,880 SF Full interior renovation completed in 2023 Close proximity to substantial employers Future uses include full service restaurant or event venue $323 6.20% SVN | COMMERCIAL ADVISORS LLC Nick Williams, CCIM nick.williams @svn.com 503.569.4449 Curt Arthur, SIOR [email protected] 503.559.7990

LAND | STATE ROUTE 303 & MARKS ROAD | VALLEY CITY, OH $1,500,000 $45,000 4.92 acres Last hard corner available Next to Discount Drug Mart, McDonalds, and Campbell Oil Seller is motivated $304,878 6.20% SVN | SUMIT COMMERCIAL REAL ESTATE ADVISORS Jerry Fiume, SIOR, CCIM jerry.fiume @svn.com 330.416.0501

MULTIFAMILY | 1329 W 18TH STREET | CHICAGO, IL $1,450,000 $29,000 6 units Prime 18th Street Corridor in Pilsen Newer renovation in 2017 with updated electric & plumbing Spacious & modernized units with on-site laundry Possibility to owner-occupy the retail unit (C1-2 Zoning) Garage parking in rear + full basement for additional space $241,667 11.02% SVN | CHICAGO COMMERCIAL Paul Cawthon paul.cawthon @svn.com 630.640.1001 Angelo Labriola angelo.labriola @svn.com 708.307.7529

OTHER | 2401 WEST CONGRESS PARKWAY | CHICAGO, IL Subject to Offer 2% 50,500 SF ​Former school & rectory on hard signalized corner ​ I-290 (Eisenhower Expressway) frontage ​ Located within TOD & TIF District Elevator building + newer windows, roof & mechanicals ​ 2 blocks to the IL Medical District 81,522 SF 6.20% SVN | CHICAGO COMMERCIAL Paul Cawthon [email protected] 630.640.1001 Angelo Labriola [email protected] 708.307.7529

OTHER | 8400 SOUTH BLACKSTONE AVENUE | CHICAGO, IL $1,975,000 $39,500 90,638 SF ​5 buildings + parking lot ​ School income in place ​ Great redevelopment opportunity ​ 90,000+ total building SF $22 6.20% SVN | CHICAGO COMMERCIAL Paul Cawthon [email protected] 630.640.1001 Angelo Labriola [email protected] 708.307.7529

OFFICE | 333 N RIVERSHIRE DRIVE | CONROE, TX $1,250,000 (TENX) Oct 21 @ 11 am CT to Oct 23 @ 1pm CT 2% Two-story Class B professional/medical office building Recent renovations: Exterior paint, landscaping, parking lot resurface & monument signage; Interior: Lobby/common areas and digital tenant directory 68% occupied 6.4/1000 SF parking ratio 336 Marketplace, a 560,000 square foot retail development, featuring grocery and national big-box anchors within one mile Proximity to area hospital systems Located within 1 block of Interstate 45 N NOI: $368,458 40,300 SF SVN | J. BEARD REAL ESTATE - GREATER HOUSTON Neal King [email protected] 281.367.2220 x125

MULTIFAMILY | 5939 W MISSOURI AVE | GLENDALE, AZ $1,000,000 $30,000 2.33 acres Land and plans for 33 2-story townhomes Equipped with washer/dryer, individually metered utilities, and spacious balconies Development in the highly desirable rental area of the Ocotillo neighborhood in Glendale READY TO BUILD: Permits are ready to be pulled with city-approved construction documents in hand $429,185 6.20% SVN | DESERT COMMERCIAL ADVISORS Carrick Sears, MBA, CCIM carrick.sears @svn.com 480.425.5529

October 21 -26, 2024 WEDNESDAY OCTOBER 23 THURSDAY OCTOBER 24 LAND & DEVELOPMENT PRODUCT COUNCIL MEETING 2:00 PM EST | 11:00 AM PT BEST PRACTICES 1 :00 PM EST | 10:00 AM PT