OFFERING MEMORANDUM 6 Mall Road | Barboursville, WV 25504
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OFFERING MEMORANDUM
6 Mall Road | Barboursville, WV 25504
Actual Property Image
03 INVESTMENT SUMMARY
• Investment Summary
• Investment Highlights
• Est. Operating Info
06 AREA OVERVIEW
• Location Map
• Aerial & Retail Maps
Actual Property Image
• City Overview
Exclusively Marketed By: Sands Investment Group
Adam Scherr Max Freedman
10 TENANT OVERVIEW
• Tenant Profile Lic. # 01925644 Lic. # 644481
310.853.1266 | DIRECT 512.766.2711 | DIRECT
adam@SIGnnn.com max@SIGnnn.com
11 LEASE ABSTRACT
• Lease Summary
• Rent Roll © 2018 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 Rockstar Realty, 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: Paul Napoli (WV0023831) / Nancy McBride WV0002673) interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.
INVESTMENT SUMMARY Actual Property Image
OFFERING SUMMARY PROPERTY SUMMARY
PRICE $4,200,000 ADDRESS 6 Mall Road
CAP 8.29% Barboursville, WV 25504
NOI $348,100 COUNTY Cabell
PRICE PER SF $140.00 BUILDING AREA 30,000 SF
LEASE TERM ~5 Years Remaining LAND AREA 5.17 Acres
LEASE GUARANTY Corporate BUILT 2002
3
INVESTMENT SUMMARY
ESTIMATED OPERATING INFO
INCOME
GROSS POTENTIAL RENT $360,000.00
EXPENSE REIMBURSEMENT
CAM & INSURANCE $98,396.00
REAL ESTATE TAXES $38,000.00
EFFECTIVE GROSS INCOME $496,396.00
LEASE EXPENSES
REPAIRS & MAINTENACE -$93,003.00
INSURANCE -$5,393.00
TAXES – REAL ESTATE -$38,000.00
UTILITIES $0.00
R/M – NON CAM -$9,500.00
ADMINISTRATION EXPENSES -$2,400.00
TOTAL EXPENSES -$148,296.00
NET OPERATING INCOME (NOI) $348,100.00
44 Actual Property Image
INVESTMENT HIGHLIGHTS
HIGHLIGHTS
• Best Buy Has Approximately 1,500 Stores Across
North America, Generating $42.15 Billion in Revenue
for Fiscal 2018 (Ended Feb. 3). Fiscal 2018 Marked
Best Buy's Fourth Consecutive Year of Positive Full-
Year Same-Store Sales Growth
• Located Near Tanyard Station – A New 50-Acre Retail
Development Totaling Over 200,000 SF is Being Built
2.5 Miles South on Hwy 60
• Barboursville is Home to the Huntington Mall, Which
is the Largest Indoor Mall in the State of West
Virginia, with More Than 1.5 Million SF of Retail Space
• Huntington Mall’s Market Area Includes Gallipolis,
OH, Portsmouth, OH, and Prestonsburg, KY
• Barboursville is Part of the Huntington-Ashland, WV-
KY-OH, Metropolitan Statistical Area and Has a
Population 363,000
• Nearby Tenants Include Michael’s, Olive Garden,
Planet Fitness, Panera Bread, Chili’s Grill & Bar,
Logan’s Roadhouse, Lowe’s Home Improvement, NTB,
Sears, Old Navy and Walmart Supercenter
• 100% Occupied Single Tenant NN Lease
45 Actual Property Image
56
LOCATION MAP
RETAIL MAP
Huntington Mall
Cabell Family
Medical Center
Nichols EM
School
57
AERIAL MAP
Huntington Mall
SUBJECT PROPERTY DEMOGRAPHICS
3 Mile 5 Mile 10 Mile
Population 13,935 30,605 94,006
Average Household Income $64,074 $68,051 $57,472
58
AREA OVERVIEW
ABOUT THE CITY
Barboursville is a village in Cabell County, West Virginia. It is
located near the second largest city in the state, Huntington.
Barboursville is a part of the Huntington-Ashland, WV-KY-OH,
Metropolitan Statistical Area (MSA).
The Huntington–Ashland metropolitan area is the
largest metropolitan statistical area in West Virginia and includes
seven counties across three states: West Virginia, Kentucky,
and Ohio. The MSA is nestled along the banks of the Ohio
River within the Appalachian Plateau region. The area is referred
to locally as the Tri-State area, though it also referred to
as Kyowva, an acronym adjusted from the abbreviations of the
three states. In addition, the three largest cities (Huntington,
West Virginia; Ashland, Kentucky; and Ironton, Ohio) are
referred to as the River Cities.
Barboursville is home to the Huntington Mall, which is the
largest indoor mall in the state of West Virginia, with more than
1.5 million square feet of retail space. The mall is anchored by
Macy's, JCPenney, Sears, Books-A-Million, and Dicks Sporting
Goods. There are currently three additional anchors under
construction including Field & Stream, TJMaxx, and
HomeGoods.
There is a "trail" through Barboursville that showcases many of
its historic buildings. One such structure is an old toll house
dating to the pre-Civil War era. Other landmarks include the
Veterans' Home, Barboursville Elementary and Middle Schools
(both schools have been rebuilt), and Barboursville Park, which
serves as a popular recreation area for residents of the area.
9
11
TENANT PROFILE
Best Buy is an American multinational consumer
electronics corporation headquartered in
Richfield, Minnesota, a Minneapolis suburb.
Internationally, it also operates in Canada and
Mexico.
The company was founded by Richard M. Schulze and James Wheeler in
1966 as an audio specialty store named Sound of Music. In 1983, it was
renamed and rebranded with more emphasis placed on consumer
electronics. Best Buy's subsidiaries include Geek Squad, Magnolia
Audio Video, and Pacific Sales. Best Buy also operates the Best Buy
Mobile and Insignia brands in North America, plus Five Star in China.
Best Buy sells cellular phones from Verizon Wireless, AT&T
Mobility, Sprint Corporation, and Boost Mobile in the United States.
HEADQUARTERS MARKET CAP
COMPANY TYPE
Richfield, MN $21 Billion
NYSE: BBY
# OF LOCATIONS FOUNDED WEBSITE
1,500+ 1966 bestbuy.com
10
11 Actual Property ImageLEASE ABSTRACT
LEASE SUMMARY
TENANT Best Buy
A Building of Approximately
PREMISES
30,000 SF
LEASE COMMENCEMENT August 29, 2002
LEASE EXPIRATION January 31, 2023
LEASE TERM ~5 Years Remaining
RENEWAL OPTIONS 4 x 5 Years
RENT INCREASES $60,000 on February 1, 2023
LEASE TYPE Double Net (NN)
USE Retail
PROPERTY TAXES Tenant’s Responsibility
INSURANCE Tenant’s Responsibility
COMMON AREA Tenant’s Responsibility
ROOF & STRUCTURE Landlord’s Responsibility
REPAIRS & MAINTENANCE Tenant’s Responsibility
HVAC Tenant’s Responsibility
UTILITIES Tenant’s Responsibility
11
12 Actual Property ImageRENT ROLL
TENANT SQUARE % OF ANNUAL RENT / INCREASE LEASE LEASE
OPTIONS
NAME FOOTAGE TOTAL BASE RENT SF DATES BEGIN END
$60,000 on
Best Buy 30,000 SF 100% $360,000 $12.00 08/29/2002 01/31/2023 4 x 5 Years
02/01/2023
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:
Adam Scherr
Lic. # 01925644
310.853.1266 | DIRECT
adam@SIGnnn.com
Max Freedman
Lic. # 644481
512.766.2711 | DIRECT
max@SIGnnn.com
Sands Investment Group
2101 S IH 35, Suite 402
Austin, TX 78741
844.4.SIG.NNN
www.SIGnnn.com
In Cooperation with Rockstar Realty, LLC
BoR: Paul Napoli (WV0023831) / Nancy McBride WV0002673)
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