OFFERING MEMORANDUM 168-170 E Main Street | Geneva, OH 44041 - Sands Investment Group
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OFFERING MEMORANDUM
168-170 E Main Street | Geneva, OH 44041
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03 INVESTMENT SUMMARY
• Investment Summary
• Investment Highlights
05 AREA OVERVIEW
• Location Map
• Aerial & Retail Maps
• City Overview Exclusively Marketed By: Sands Investment Group
John Kerr John Cigliano Adam Scherr
Lic. # 01996892 Lic. # 01944544 Lic. # 01925644
10 TENANT OVERVIEW
• Tenant Profiles
• Lease Summaries 424.228.1718 | DIRECT 310.853.1353 | DIRECT 310.853.1266 | DIRECT
• Rent Roll jkerr@SIGnnn.com john@SIGnnn.com adam@SIGnnn.com
© 2019 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. Sands Investment
Group does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the
responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it’s accuracy and completeness.
Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance
In Cooperation with Cooper Commercial Investment Group, LLC
these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential
BoR: Dan Cooper – Lic # 2009003618 interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.
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INVESTMENT SUMMARY
OFFERING SUMMARY PROPERTY SUMMARY
PRICE $1,200,000 ADDRESS 168-170 E Main Street
Geneva, OH 44041
CAP 7.90%
COUNTY Ashtabula
NOI $94,740
BUILDING AREA 20,120 SF
PRICE PER SF $59.64 LAND AREA 1 Acre
LEASE GUARANTY AutoZone, Inc. / CVS Caremark Corporation BUILT 1960
3
INVESTMENT HIGHLIGHTS
INVESTMENT SUMMARY
• Value-Add Opportunity
• Strong Corporate Guarantee - AutoZone, Inc.: S&P
(BBB) / CVS Caremark Corporation: S&P (BBB)
• Very Low Rents Commenced in 1994 and 1995
• Over $120,000 in Improvements Made Over the Last
2 Years Including the Installation of a Brand New Roof
and Complete Re-Coating of the Parking Lot
• Proven Location - Both CVS and AutoZone Have
Successfully Operated at This Location For Over 20
Years
• Limited Competition - 25 Miles From the Nearest CVS
Location
• Strategically Located in Demographics Ideal For
AutoZone “Do-It Yourself” Customers
44 Actual Property Image
55
LOCATION MAP
AERIAL MAP
Hong Kong Ray’s Auto
King Buffet Repair
E Main St
Benny’s Coin
Laundry
St
st
re
Fo
Geneva Parks
N
& Recreation
Geneva City
Hall
6
57
RETAIL MAP
S Broadway
E Main
St
AERA OVERVIEW
SUBJECT PROPERTY DEMOGRAPHICS
3 Mile 5 Mile 10 Mile
Population 9,840 17,858 68,281
Average Household Income $63,165 $65,664 $61,377
STREET/CROSS ROAD AVERAGE VEHICLES PER DAY
E Main St 8,894
S Broadway 9,749
98 Actual Property Image
AREA OVERVIEW
CITY OVERVIEW
Geneva is a city in Ashtabula County, Ohio. The area
which would become Geneva was originally settled in
1805, and was incorporated as a city in 1958. It is
named after Geneva, New York. Ashtabula County
comprises the Ashtabula, OH Micropolitan Statistical
Area, which is also included in the Cleveland–Akron–
Canton, OH Combined Statistical Area. According to
2016 United States Census estimates, the five-
county Cleveland–Elyria Metropolitan Statistical
Area (MSA) consists of Cuyahoga County, Geauga
County, Lake County, Lorain County, and Medina
County. This MSA has a population of 2,055,612
making Greater Cleveland the 32nd most populous
metropolitan area in the United States and the largest
metro entirely in Ohio. Greater Cleveland is also part
of the Great Lakes Megalopolis.
Three major routes pass through Geneva: (1) Interstate
90, the northernmost east-west and coast-to-coast
interstate (2) Route 534 intersects (3) Route 20, the
longest road in the United States, in downtown
Geneva.
Geneva is home to HDT Global, an industrial outfit
that manufactures air conditioning, heating, and
filtration units for heavy industry. In recent years, they
have been awarded over $100 million in U.S.
Department of Defense contracts.
The Grape Jamboree is an annual celebration of the
area's grape-growing and wine-producing industries.
The festival occurs during the final full weekend of
September, and lasts both days.
9
TENANT OVERVIEW - CVS CVS Pharmacy is the second largest pharmacy chain in the LEASE SUMMARY
United States with more than 9,800 locations in 49 states
including the District of Columbia and Puerto Rico. As the TENANT CVS
retail pharmacy division of CVS Health, its ranks as the
12th largest company in the world serving 5 million PREMISES A Retail Space of
customers each day. Approximately 10,580 SF
CVS sells prescription drugs and a wide assortment of general merchandise including LEASE COMMENCEMENT May 9, 1994
over-the-counter drugs, beauty products and cosmetics, film and photo finishing
services, seasonal merchandise, greeting cards, and convenience foods through their LEASE EXPIRATION December 31, 2019
CVS Pharmacy and Longs Drugs retail stores. It also provides healthcare services to
more than 1,100 MinuteClinic medical clinics in 33 states including the District of LEASE TERM ~1 Year Remaining
Columbia. As a pharmacy innovation company, CVS focuses our charitable giving in
ways that will help people on their path to better health by improving health outcomes RENEWAL OPTIONS 1 x 5 Year
and building healthier communities. Their in-store fundraising campaigns, in-kind
donations and corporate grants provide support for national nonprofit partners that RENT INCREASES 10% At Options
are focused on helping people on their path to better health.
LEASE TYPE NN
USE Drug Store
PROPERTY TAXES Tenant’s Responsibility
COMPANY TYPE HEADQUARTERS # OF LOCATIONS INSURANCE Tenant’s Responsibility
NYSE: CVS Woonsocket, RI 9,800+
COMMON AREA Tenant’s Responsibility
ROOF & STRUCTURE Landlord’s Responsibility
REPAIRS & MAINTENANCE Tenant’s Responsibility
HVAC Tenant’s Responsibility
MARKET CAP FOUNDED WEBSITE
UTILITIES Tenant’s Responsibility
10 $75.703 Billion 1963 www.cvs.comTENANT OVERVIEW - AUTOZONE
For more than 30 years, AutoZone has been committed to LEASE SUMMARY
providing the best parts, prices and customer service in the
TENANT AutoZone
automotive aftermarket industry. We have a rich culture and
history of going the Extra Mile for our customers and our
PREMISES A Retail Space of
community. Approximately 9,540 SF
AutoZone is the nation's leading retailer and a leading distributor of automotive LEASE COMMENCEMENT September 8, 1995
replacement parts and accessories with more than 6,202 stores in US, Puerto Rico,
Mexico, and Brazil. Each store carries an extensive line for cars, sport utility vehicles, LEASE EXPIRATION September 30, 2021
vans and light trucks, including new and remanufactured hard parts, maintenance
items and accessories. Since opening its first store in Forrest City, Arkansas on July 4, LEASE TERM ~3 Years Remaining
1979, the company has joined the New York Stock Exchange (NYSE: AZO) and earned
a spot in the Fortune 500. AutoZone also sell automotive diagnostic and repair RENEWAL OPTIONS 1 x 5 Year
software through ALLDATA, diagnostic and repair information through alldatadiy.com,
and auto and light truck parts and accessories through AutoZone.com. RENT INCREASES 10% At Options
LEASE TYPE NN
USE Auto Parts
PROPERTY TAXES Tenant’s Responsibility
INSURANCE Tenant’s Responsibility
COMPANY TYPE HEADQUARTERS # OF LOCATIONS
NYSE: AZO Memphis, TN 6,200+
COMMON AREA Tenant’s Responsibility
ROOF & STRUCTURE Landlord’s Responsibility
REPAIRS & MAINTENANCE Tenant’s Responsibility
HVAC Tenant’s Responsibility
MARKET CAP FOUNDED WEBSITE UTILITIES Tenant’s Responsibility
11 $18.398 Billion 1979 autozone.comRENT ROLL
TENANT SQUARE % OF MONTHLY RENT / INCREASE LEASE LEASE
OPTIONS
NAME FOOTAGE TOTAL BASE RENT SF DATES BEGIN END
CVS 10,580 SF 53% $4,436 $0.41 At Options 05/09/1994 12/31/2019 1 x 5 Year
AutoZone 9,540 SF 47% $3,459 $0.36 At Options 09/08/1995 09/30/2021 1 x 5 Year
TOTAL 20,120 SF 100% $7,895 $0.39
12
13 Actual Property ImageCONFIDENTIALLY 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 Sands Investment Group and should not be made available to any other person or entity without the written
consent of Sands Investment Group.
This Offering Memorandum has been prepared to provide summary, unverified 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, 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, PCB’s or asbestos, the
compliance with 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, Sands
Investment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group 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.
By receipt of this Memorandum, you agree that this Memorandum and its contents
are of confidential nature, that you will hold and treat it in the strictest confidence and
that you will not disclose its contents in any manner detrimental to the interest of the
Owner. You also agree that by accepting this Memorandum you agree to release
Sands Investment Group and hold it harmless from any kind of claim, cost, expense,
or liability arising out of your investigation and/or purchase of this property.
14Exclusively Marketed By:
John Kerr
Lic. # 01996892
424.228.1718 | DIRECT
jkerr@SIGnnn.com
John Cigliano
Lic. # 01944544
310.853.1353 | DIRECT
john@SIGnnn.com
Adam Scherr
Lic. # 01925644
310.853.1266 | DIRECT
adam@SIGnnn.com
Sands Investment Group
2701 Ocean Park Blvd, Suite 140
Santa Monica, CA 90405
844.4.SIG.NNN
www.SIGnnn.com
In Cooperation with Cooper Commercial Investment Group, LLC
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