Turner Commercial Properties
FOR SALE: 800 S. AUSTIN AVENUE GEORGETOWN, TX 78626
Presented By:
Steve Turner
Representing the Seller
512-930-2800
The Broker is submitting the attached information in its capacity as an agent and representative of the owner. The property is being offered for sale in "AS IS, WHERE IS" condition. Please note that all information submitted for your review has been gathered from what we believe are reliable sources, but the accuracy of the information is not guaranteed. Turner Commercial Properties has attempted to use reasonable care in obtaining the information submitted to you. Generally, a substantial portion of the information must be obtained from sources other than Turner Commercial Properties. Not all sources can be absolutely confirmed. Consequently, Turner Commercial Properties makes no warranty, either express or implied, as to the accuracy of the information contained herein. All information submitted is subject to change without notice as regards price, terms or availability. Additionally, the Broker has conducted no environmental investigation of the property and makes no representations regarding the environmental status of the property. No warranty or representation is made to you as to the value, or the accrual of future value, for this property. Turner Commercial Properties urges that you consult your business, tax and legal advisors before you make any final determination regarding the property being offered to you. The Broker STRONGLY encourages an independent examination of the property be conducted by representatives of the buyer. IN ACCORDANCE WITH THE LAW, THIS PROPERTY IS OFFERED WITHOUT REGARD TO RACE, COLOR, CREED, FAMILIAL STATUS, NATIONAL ORIGIN, RELIGION OR HANDICAP STATUS.
TURNER COMMERCIAL PROPERTIES 3613 Williams Drive, Suite 304 • Georgetown, Texas 78628 512/930-2800 (Phone) • 512/819-0141 (Fax)
BROKER:
STEVE TURNER R e p r e s e n t i n g t h e
512-930-2800 (O) 512-632-9225 (M)
3613 Williams Drive, Suite 304 Georgetown, TX 78628
FOR SALE: MAKEMSON-STEELE-WEIR BUILDING 800 S. AUSTIN AVENUE GEORGETOWN, TX 78626
LOCATION: Without question, this building is easily the most recognizable property in Georgetown. Located directly across from the Williamson County Courthouse in the heart of the Central Business Deistrict of Georgetown TURNER COMMERCIAL PROPERTIES 3613 Williams Drive, Suite 304 • Georgetown, Texas 78628 512/930-2800 (Phone) • 512/819-0141 (Fax)
S e l l e r
at the soutwest corner of Austin Avenue and 8th Street. LEGAL: Texas.
A portion of Lot 5 and Lot 6, Block 50, Original town-site of the City of Georgetown, Williamson County,
IMPROVEMENTS: A combination one and two-story structure, the property contains approximately 10,798 sq. ft. of rentable space in the main building, and an additional 828+/- sq. ft. of net leaseable space in an adjacent building fronting on to Eighth Street. The property is leased for both professional office and high-end retail uses. In 1997, the main building was gutted to the exterior walls and essentially re-built. The property is considered to be the nicest building in Georgetown. The building offers a 2,100-pound capacity elevator, atrium skylights and many other state of the art accommodations. The interior finish-out is extraordinary. The restrooms have granite counter tops with ceramic tile on the walls from floor level to 8 feet above the floor. Entry doors from the central corridor are 10' fullglass wood doors. The doors were milled from the same material used in remodeling the Texas State Capitol building. Floors are stained concrete, wood and carpet.
TURNER COMMERCIAL PROPERTIES 3613 Williams Drive, Suite 304 • Georgetown, Texas 78628 512/930-2800 (Phone) • 512/819-0141 (Fax)
PRICE:
$2,100,000.00
COMMISSION:
3% to Selling Broker
SIGNAGE: Street level retail tenants have been allowed one individual dual-faced hanging awning sign installed about 9' above the sidewalk. All signs require approval by the City's Historical Architectural Review Commission. COMMENTS: This property is being offered for sale in its “AS IS, WHERE IS” condition.
ZONING: C-2 (Downtown Commercial), subject to the Downtown Overlay District regulations and the Historic Overlay District regulations of the City of Georgetown.
In order to minimize disruptions of the on-going business operations, previewing or showing the property will require scheduling an appointment with
PARKING: Parking is on street and maintained by the City of Georgetown. There is one loading space at the rear of the building accessed from a public alley. UTILITIES: All services are through the City of Georgetown. HVAC: 11 forced-air rooftop mounted units (1998) were added to the building during remodeling. The building is divided into 11 zones matching the suite configuration. (See Broker for details)
the Listing Broker.
The Broker is submitting the attached information in its capacity as an agent and representative of the owner. The Broker makes no warranty, express or implied, as to the accuracy of the information contained herein. All information submitted is subject to change without notice as regards price, terms or availability. Additionally, the Broker has conducted no environmental investigation of the property and makes no representations regarding the environmental status of the property. The Broker STRONGLY encourages an independent examination of the property be conducted by representatives of the buyer. IN ACCORDANCE WITH THE LAW, THIS PROPERTY IS OFFERED WITHOUT REGARD TO RACE, COLOR, CREED, FAMILIAL STATUS, NATIONAL ORIGIN, RELIGION OR HANDICAP STATUS.
TURNER COMMERCIAL PROPERTIES 512-930-2800
Ground Floor
Second Floor TURNER COMMERCIAL PROPERTIES 512-930-2800
Proforma Gross Income - 2008
$217,958.00
Gross Expenses - 2008
$80,254.00 6.557% **
Cap Rate
** Based on $2,100,000.00 Purchase Price
800 South Austin, LP
Income & Expense Report for 2005-2007 Jan - Dec 05
Jan - Dec 06
Jan - Dec 07
204,873.41
205,209.07
214,752.44
204,873.41
205,209.07
214,752.44
428.67
428.67
428.67
3,691.00
3,12000
1,363.40
Janitorial Services
11,850.00
12,100.00
11,610.00
Janitorial Supplies
1,042.67
1,290.08
1,407.75
Ordinary Income/Expense Income Rental Total Income Expense Fire alarm/Monitoring Service Insurance
Licenses and Permits Maintenance& Bldg Repairs Management Fees Professional Fees Property Tax Telephone Utilities Total Expense
Net Ordinary Income Net Income
30.00
30.00
30.00
11,082.76
10,852.93
9,524.89
6,000.00
6,000.00
5,500.00
1,453.00
1,485.00
1,978.00
33,158.50
29,810.22
29,810.22
1,615.14
1,637.78
1,866.23
12,787.49
14,881.64
16,735.28
83,139.23
81,636.32
80,254.44
121,734.18
123,572.75
134,498.00
121,734.18
123,572.75
134,498.00
TURNER COMMERCIAL PROPERTIES 512-930-2800
Property Name: 800 S. Austin Avenue Prepared by: Steve Turner June 1, 2008 Gross Rental Income Tenant
Unit
Useable Sq. Ft.
Rentable Sq. Ft.
Add On %
Rent/Sq. Ft.
Annual Rent
Lease Expiration
Annarella
A & B, Atrium
2,820
3,102
10%
$12.32
$38,226.00
5/31/09
Scentchips 1
C
370
407
10%
$24.53
$9,984.00
1/31/2010
Vacant
D
650
715
10%
$23.50
$16,800.00
Lawyer's Title
E&F
1,732
1,905
10%
$23.56
$44,887.56
2/28/2011
Innova Group 2
J&K
1,470
1,617
10%
$19.58
$55,104.00
5/31/2010
Innova Group
L-1 & L-2
1,088
1,197
10%
Dan Gattis
M-200 - 204
1,521
1,854
22%
$19.42
$36,000.00
12/31/2008
Edward Jones 3
212 W. 8th
828
828
0
$20.48
$16,956.00
11/30/2010
10,479
11,626
11%
TOTALS
ALL LEASES ARE GROSS LEASES. 1 2 3
Scentchips Unit C: Rent increase 2/1/09 to $856 per month / $10,380.00 Innova Group - Unit L-1, L-2, J-K: Rent increase 6/1/09 to $4,731 per month / $56,772.00 Edward Jones - 212 W. 8th Street: Rent increase 12/1/09 to $1,447 per month / $17,364.00
$217,958.00
Presented By:
Steve Turner
Representing the Seller
512-930-2800
The Broker is submitting the attached information in its capacity as an agent and representative of the owner. The property is being offered for sale in "AS IS, WHERE IS" condition. Please note that all information submitted for your review has been gathered from what we believe are reliable sources, but the accuracy of the information is not guaranteed. Turner Commercial Properties has attempted to use reasonable care in obtaining the information submitted to you. Generally, a substantial portion of the information must be obtained from sources other than Turner Commercial Properties. Not all sources can be absolutely confirmed. Consequently, Turner Commercial Properties makes no warranty, either express or implied, as to the accuracy of the information contained herein. All information submitted is subject to change without notice as regards price, terms or availability. Additionally, the Broker has conducted no environmental investigation of the property and makes no representations regarding the environmental status of the property. No warranty or representation is made to you as to the value, or the accrual of future value, for this property. Turner Commercial Properties urges that you consult your business, tax and legal advisors before you make any final determination regarding the property being offered to you. The Broker STRONGLY encourages an independent examination of the property be conducted by representatives of the buyer. IN ACCORDANCE WITH THE LAW, THIS PROPERTY IS OFFERED WITHOUT REGARD TO RACE, COLOR, CREED, FAMILIAL STATUS, NATIONAL ORIGIN, RELIGION OR HANDICAP STATUS.
TURNER COMMERCIAL PROPERTIES 3613 Williams Drive, Suite 304 • Georgetown, Texas 78628 512/930-2800 (Phone) • 512/819-0141 (Fax)
BROKER:
STEVE TURNER R e p r e s e n t i n g t h e
512-930-2800 (O) 512-632-9225 (M)
3613 Williams Drive, Suite 304 Georgetown, TX 78628
FOR SALE: MAKEMSON-STEELE-WEIR BUILDING 800 S. AUSTIN AVENUE GEORGETOWN, TX 78626
LOCATION: Without question, this building is easily the most recognizable property in Georgetown. Located directly across from the Williamson County Courthouse in the heart of the Central Business Deistrict of Georgetown TURNER COMMERCIAL PROPERTIES 3613 Williams Drive, Suite 304 • Georgetown, Texas 78628 512/930-2800 (Phone) • 512/819-0141 (Fax)
S e l l e r
at the soutwest corner of Austin Avenue and 8th Street. LEGAL: Texas.
A portion of Lot 5 and Lot 6, Block 50, Original town-site of the City of Georgetown, Williamson County,
IMPROVEMENTS: A combination one and two-story structure, the property contains approximately 10,798 sq. ft. of rentable space in the main building, and an additional 828+/- sq. ft. of net leaseable space in an adjacent building fronting on to Eighth Street. The property is leased for both professional office and high-end retail uses. In 1997, the main building was gutted to the exterior walls and essentially re-built. The property is considered to be the nicest building in Georgetown. The building offers a 2,100-pound capacity elevator, atrium skylights and many other state of the art accommodations. The interior finish-out is extraordinary. The restrooms have granite counter tops with ceramic tile on the walls from floor level to 8 feet above the floor. Entry doors from the central corridor are 10' fullglass wood doors. The doors were milled from the same material used in remodeling the Texas State Capitol building. Floors are stained concrete, wood and carpet.
TURNER COMMERCIAL PROPERTIES 3613 Williams Drive, Suite 304 • Georgetown, Texas 78628 512/930-2800 (Phone) • 512/819-0141 (Fax)
PRICE:
$2,100,000.00
COMMISSION:
3% to Selling Broker
SIGNAGE: Street level retail tenants have been allowed one individual dual-faced hanging awning sign installed about 9' above the sidewalk. All signs require approval by the City's Historical Architectural Review Commission. COMMENTS: This property is being offered for sale in its “AS IS, WHERE IS” condition.
ZONING: C-2 (Downtown Commercial), subject to the Downtown Overlay District regulations and the Historic Overlay District regulations of the City of Georgetown.
In order to minimize disruptions of the on-going business operations, previewing or showing the property will require scheduling an appointment with
PARKING: Parking is on street and maintained by the City of Georgetown. There is one loading space at the rear of the building accessed from a public alley. UTILITIES: All services are through the City of Georgetown. HVAC: 11 forced-air rooftop mounted units (1998) were added to the building during remodeling. The building is divided into 11 zones matching the suite configuration. (See Broker for details)
the Listing Broker.
The Broker is submitting the attached information in its capacity as an agent and representative of the owner. The Broker makes no warranty, express or implied, as to the accuracy of the information contained herein. All information submitted is subject to change without notice as regards price, terms or availability. Additionally, the Broker has conducted no environmental investigation of the property and makes no representations regarding the environmental status of the property. The Broker STRONGLY encourages an independent examination of the property be conducted by representatives of the buyer. IN ACCORDANCE WITH THE LAW, THIS PROPERTY IS OFFERED WITHOUT REGARD TO RACE, COLOR, CREED, FAMILIAL STATUS, NATIONAL ORIGIN, RELIGION OR HANDICAP STATUS.
TURNER COMMERCIAL PROPERTIES 512-930-2800
Ground Floor
Second Floor TURNER COMMERCIAL PROPERTIES 512-930-2800
Proforma Gross Income - 2008
$217,958.00
Gross Expenses - 2008
$80,254.00 6.557% **
Cap Rate
** Based on $2,100,000.00 Purchase Price
800 South Austin, LP
Income & Expense Report for 2005-2007 Jan - Dec 05
Jan - Dec 06
Jan - Dec 07
204,873.41
205,209.07
214,752.44
204,873.41
205,209.07
214,752.44
428.67
428.67
428.67
3,691.00
3,12000
1,363.40
Janitorial Services
11,850.00
12,100.00
11,610.00
Janitorial Supplies
1,042.67
1,290.08
1,407.75
Ordinary Income/Expense Income Rental Total Income Expense Fire alarm/Monitoring Service Insurance
Licenses and Permits Maintenance& Bldg Repairs Management Fees Professional Fees Property Tax Telephone Utilities Total Expense
Net Ordinary Income Net Income
30.00
30.00
30.00
11,082.76
10,852.93
9,524.89
6,000.00
6,000.00
5,500.00
1,453.00
1,485.00
1,978.00
33,158.50
29,810.22
29,810.22
1,615.14
1,637.78
1,866.23
12,787.49
14,881.64
16,735.28
83,139.23
81,636.32
80,254.44
121,734.18
123,572.75
134,498.00
121,734.18
123,572.75
134,498.00
TURNER COMMERCIAL PROPERTIES 512-930-2800
Property Name: 800 S. Austin Avenue Prepared by: Steve Turner June 1, 2008 Gross Rental Income Tenant
Unit
Useable Sq. Ft.
Rentable Sq. Ft.
Add On %
Rent/Sq. Ft.
Annual Rent
Lease Expiration
Annarella
A & B, Atrium
2,820
3,102
10%
$12.32
$38,226.00
5/31/09
Scentchips 1
C
370
407
10%
$24.53
$9,984.00
1/31/2010
Vacant
D
650
715
10%
$23.50
$16,800.00
Lawyer's Title
E&F
1,732
1,905
10%
$23.56
$44,887.56
2/28/2011
Innova Group 2
J&K
1,470
1,617
10%
$19.58
$55,104.00
5/31/2010
Innova Group
L-1 & L-2
1,088
1,197
10%
Dan Gattis
M-200 - 204
1,521
1,854
22%
$19.42
$36,000.00
12/31/2008
Edward Jones 3
212 W. 8th
828
828
0
$20.48
$16,956.00
11/30/2010
10,479
11,626
11%
TOTALS
ALL LEASES ARE GROSS LEASES. 1 2 3
Scentchips Unit C: Rent increase 2/1/09 to $856 per month / $10,380.00 Innova Group - Unit L-1, L-2, J-K: Rent increase 6/1/09 to $4,731 per month / $56,772.00 Edward Jones - 212 W. 8th Street: Rent increase 12/1/09 to $1,447 per month / $17,364.00
$217,958.00
