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Home My WebLink AboutBeckley Settlement Loan RequestBECKLEY SETTLEMENT2910 South Beckley, Dallas, TX 75224LOANREQUESTPresented byMonte AndersonMay 15, 2021Options Real Estate111 East Davis Street, Suite 101Duncanville, TX 75116972-283-1111optionsre.com TABLE OF CONTENTS1.PROPERTY2.SURVEY3.FLOOR PLANS4.RENT ROLL5.PRO-FORMA6.BUDGET7.LOAN REQUEST8.ZONING9.LEASES2910 South BeckleyDallas, TX 75224 - DCAD, NCTCOG, USGS, Esri.Inc 2910 South Beckley Date of copy: 5/11/2021 0 90 18045 ft 0 25 5012.5 m 1 inch equals 94 feet Dallas Central Appraisal District 2949 N Stemmons Freeway Dallas, TX 75247-6195 (214) 631-1342 www.dallascad.org This product is for informational purposes only and may not have been prepared for or be suitable for legal, engineering, or surveying purposes. It does not represent an on-the-ground survey and represents only the approximate relative location of property boundaries. DCAD ID: 004107000801A0000 Home | Find Property | Contact Us Commercial Account #004107000801A0000 Location Owner Legal Desc Value Improvements Land Exemptions Estimated Taxes Building Footprint History Location (Current 2021) Address: 2910 S BECKLEY AVE Market Area: 0 Mapsco: 54-Z (DALLAS) DCAD Property Map View Photo 2021 Current Appraisal Notice uFile Online Protest Electronic Documents (ENS) Print Homestead Exemption Form Print/Mail Account Protest Form Owner (Current 2021) BECKLEY SETTLEMENT LLC 111 E DAVIS ST STE 101 DUNCANVILLE, TEXAS 751163615 Multi-Owner (Current 2021) Owner Name Ownership % BECKLEY SETTLEMENT LLC 100% Legal Desc (Current 2021) 1:BECKLEY CENTER 2:BLK 8/4107 LOT 1A ACS 0.642 3: 4:INT202000096428 DD04092020 CO-DC 5:4107 008 01A00 8DA4107 008 Deed Transfer Date: 4/14/2020 Value 2021 Proposed Values Improvement: Land: Market Value: $210,170 + $139,830 =$350,000 Revaluation Year:2019 Previous Revaluation Year:2018 Improvements (Current 2021) #Desc: SCHOOL Total Area: 16,870 sqft Year Built: 1960 1 Construction Depreciation Appraisal Method Construction:D-WOOD FRAME Foundation (Area):CONCRETE SLAB (8,710 sqft ) Net Lease Area :16,870 sqft # Stories:2 # Units:0 Basement (Area):UNASSIGNED Heat:CENTRAL HEAT A/C:CENTRAL A/C Physical: Functional: External: Total: + + = 60% 0% 0% 60% Quality:AVERAGE Condition:GOOD COST * All Exemption information reflects 2021 Proposed Values. * © 2021 Dallas Central Appraisal District. All Rights Reserved. Land (2021 Proposed Values) # State Code Zoning Frontage (ft) Depth (ft)Area Pricing Method Unit Price Market Adjustment Adjusted Price Ag Land 1 COMMERCIAL IMPROVEMENTS NEIGHBORHOOD SERVICE DISTRICT 0027,966.0000 SQUARE FEET STANDARD $5.00 0% $139,830 N Exemptions (2021 Proposed Values) No Exemptions Estimated Taxes (2021 Proposed Values) City School County and School Equalization College Hospital Special District Taxing Jurisdiction DALLAS DALLAS ISD DALLAS COUNTY DALLAS CO COMMUNITY COLLEGE PARKLAND HOSPITAL UNASSIGNED Tax Rate per $100 $0.7763 $1.296735 $0.24974 $0.124 $0.2661 N/A Taxable Value $350,000 $350,000 $350,000 $350,000 $350,000 $0 Estimated Taxes $2,717.05 $4,538.57 $874.09 $434.00 $931.35 N/A Tax Ceiling N/A N/A Total Estimated Taxes:$9,495.06 DO NOT PAY TAXES BASED ON THESE ESTIMATED TAXES. You will receive an official tax bill from the appropriate agency when they are prepared. Please note that if there is an Over65 or Disabled Person Tax Ceiling displayed above, it is NOT reflected in the Total Estimated Taxes calculation provided. Taxes are collected by the agency sending you the official tax bill. To see a listing of agencies that collect taxes for your property. Click Here The estimated taxes are provided as a courtesy and should not be relied upon in making financial or other decisions. The Dallas Central Appraisal District (DCAD) does not control the tax rate nor the amount of the taxes, as that is the responsibility of each Taxing Jurisdiction. Questions about your taxes should be directed to the appropriate taxing jurisdiction. We cannot assist you in these matters. These tax estimates are calculated by using the most current certified taxable value multiplied by the most current tax rate. It does not take into account other special or unique tax scenarios, like a tax ceiling, etc.. If you wish to calculate taxes yourself, you may use the Tax Calculator to assist you. Building Footprint (Current 2021) History History Amariss Feemster • amariss@optionsre.com • 972.762.5523 • Monte Anderson • monte@optionsre.com • 972.283.1111 Options Real Estate • 111 E. Davis Street Suite 101 • Duncanville, TX 75116 • optionsre.com MIXED-USE PROPERTY FOR LEASEBECKLEY SETTLEMENT • 2910 South Beckley Avenue, Dallas, TX Leased FLOOR 1 AVAILABLE SPACES SUITE SIZE (RSF) LEASE RATE UTILITIES INTERNET TOTAL #100 1,458 $3,645 $245 $100 $3,990 #105 387 $630 $70 $75 $775 #115 556 $825 $95 $75 $995 #120 956 $1,495 $160 $100 $1,755 Pending LASH STUDIO HERBALIFE ESTHETICIAN HAIR SALON TATTOO SHOP HAIR & MAKEUP CLOTHING BOUTIQUE HAIR BRAIDS HAIR SALON & BEAUTY SUPPLIES LASH SCHOOL TAX ACCOUNTING Amariss Feemster • amariss@optionsre.com • 972.762.5523 • Monte Anderson • monte@optionsre.com • 972.283.1111 Options Real Estate • 111 E. Davis Street Suite 101 • Duncanville, TX 75116 • optionsre.com MIXED-USE PROPERTY FOR LEASEBECKLEY SETTLEMENT • 2910 South Beckley Avenue, Dallas, TX AVAILABLE SPACES SUITE SIZE (RSF) LEASE RATE UTILITIES INTERNET TOTAL #200 444 $680 $75 $75 $830 #205 398 $525 $70 $75 $670 #215 391 $525 $70 $75 $670 #225 429 $570 $75 $75 $720 #235 429 $575 $75 $75 $725 #245 561 $750 $95 $75 $920 #250 562 $825 $95 $75 $995 #255 547 $730 $95 $75 $900 #275 269 $510 $45 $75 $630 #280 537 $830 $90 $75 $995 #285 617 $925 $110 $75 $1,110 #290 570 $900 $95 $75 $1,070 Leased Pending FLOOR 2 MEDICAL NAIL TECH TATTOO MAKE UP BARBERNAIL SALON T-SHIRTS & PHOTOGRAPHY HAIR MASSAGE 2910 S. Beckley - Rent Roll 5/11/2021 Suite # Tenant Rate PSF USF RSF Lease Term Monthly Rent Annual Rent Utilities Annual Internet Annual NOTES 100 $32.00 959)1,458)$3,888.00 $46,656.00 $2,916.00 $900.00 105 $19.53 261)387)$630.00 $7,560.00 $774.00 $900.00 110 Chaundra Polk $23.51 394)485)8/1/21 - 7/31/22 $950.00 $11,400.00 $1,200.00 $900.00 115 $19.64 378)556)$910.00 $10,920.00 $1,112.00 $900.00 120 $20.08 554)956)$1,600.00 $19,200.00 $1,912.00 $1,200.00 130 Josie Avina $18.05 355)540)09/01/2021 - 08/31/2026 $812.25 $9,747.00 $1,080.00 $900.00 09/01/21 - 008/31/2024 = $812.25 09/01/24 - 08/31/25 = $893.50. 09/01/25 - 08/31/26 = $982.85 135 Josie Avina $16.61 844)1,283)09/01/2021 - 08/31/2026 $1,775.89 $21,310.68 $2,566.00 $900.00 09/01/21 - 008/31/2024 = $1,775.89 09/01/24 - 08/31/25 = $1,953.48 09/01/25 - 08/31/26 = $2,148.83 145 Shanta Maxey $20.15 176)268)8/1/21 - 7/31/23 $450.00 $5,400.00 $540.00 $900.00 150 Extraoirdinaire Hair Bar, LLC - Roberta Hall $20.51 491)746)8/1/21 - 7/31/22 $1,275.00 $15,300.00 $1,500.00 $1,200.00 155 Sharmayne Green $19.04 207)315)08/01/21 - 07/31/22 $525.00 $6,300.00 $660.00 $900.00 160 Venisha Davis d/b/a Lloyalty Tax Solutions and More $20.03 378)575)8/1/21 - 7/31/23 $960.00 $11,520.00 $1,200.00 $900.00 165 Crystal Forney & Chambria Reynolds d/b/a PrettyMePink Boutique $19.35 265)403)8/1/21 - 7/31/22 $650.00 $7,800.00 $840.00 $900.00 175 Carlisha Palmer & Tiffany Strickland $22.80 225)342)8/1/21 - 7/31/22 $570.00 $6,840.00 $720.00 $900.00 180 $20.00 395)600)$1,000.00 $12,000.00 $1,200.00 $900.00 Total Floor 1 5,882)8,914)$15,996.14 $191,953.68 $18,220.00 $13,200.00 Leased Space 5/7/21 3,335)4,957) Vacant Space 5/7/21 2,547)3,957) 200 $18.92 292)444)$700.00 $8,400.00 $888.00 $900.00 205 $15.83 262)398)$525.00 $6,300.00 $796.00 $900.00 210 Ka Tonya Calloway $16.39 270)410)8/1/21 - 7/31/22 $560.00 $6,720.00 $840.00 $900.00 215 $16.11 257)391)$525.00 $6,300.00 $782.00 $900.00 220 Megan Rae Smith $16.04 207)315)8/1/21 - 7/31/22 $421.00 $5,040.00 $636.00 $900.00 225 $15.94 282)429)$570.00 $6,840.00 $858.00 $900.00 230 Aubrey Sloan $16.04 207)315)8/1/21 - 7/31/22 $525.00 $6,300.00 $660.00 $900.00 235 $15.97 282)429)$571.00 $6,852.00 $858.00 $900.00 240 Jori Thorns $16.74 182)277)05/01/21 - 4/30/22 $386.00 $4,632.00 $552.00 $900.00 Pending Tenant Signature for Amendment changing Commencement Date to 8/1/21 245 $16.04 369)561)$750.00 $9,000.00 $1,122.00 $900.00 2910 S. Beckley - Rent Roll 5/11/2021 Suite # Tenant Rate PSF USF RSF Lease Term Monthly Rent Annual Rent Utilities Annual Internet Annual NOTES 250 $16.01 370)562)$750.00 $9,000.00 $1,124.00 $900.00 255 $16.01 360)547)$730.00 $8,760.00 $1,094.00 $900.00 260 Frances Hernandez $20.00 223)339)8/1/21 - 7/31/22 $565.00 $6,780.00 $720.00 $900.00 270 Denise Urbina Ledezma $20.06 226)344)8/1/21 - 7/31/26 $575.00 $6,900.00 $720.00 $900.00 8/1/21 - 7/31/24 @ $575 8/1/24 - 7/31/26 @ $625 275 $22.75 177)269)$510.00 $6,120.00 $538.00 $900.00 280 $19.21 353)537)$860.00 $10,320.00 $1,074.00 $900.00 285 $17.78 406)617)$975.00 $11,700.00 $1,234.00 $900.00 290 $18.95 375)570)$900.00 $10,800.00 $1,140.00 $900.00 Total Floor 2 5,100)7,754)$11,398.00 $136,764.00 $15,636.00 $16,200.00 Leased Space 1,315)1,685 Vacant Space 3,785)6,069) Totals 1st & 2nd Floor 10,982)16,668)$27,394.14 $328,717.68 $33,856.00 $29,400.00 Total Leased Space 3,451)5,134) Total Vacant Space 7,531)11,534) Grand Total Potential Income $391,973.68 Beckley Settlement, LLC May 15, 2021 PRO - FORMA Building Size Income First Floor 8,914 SF Total Potential Gross Income 328,612.68$ Second Floor 7,754 SF Utilities Reimbursement 33,864.00$ Total 16,668 SF Internet Reimbursement 29,600.00$ Total 392,076.68$ Income 352,869.01$ Adjusted Gross Income @ 90%$352,869.01 Expenses 97,800.00$ $/SF/YR $21.170 Net Operating Income 255,069.01$ Expenses Taxes 12,000.00$ CAP Rate 8.00%Insurance 12,000.00$ Value $3,188,362.65 Utilities 24,000.00$ Janitorial 14,400.00$ Internet 6,000.00$ Landscaping 4,800.00$ HVAC 3,000.00$ Other Maintenance 3,600.00$ Property Management 13,000.00$ Misc.5,000.00$ Total Expenses 97,800.00$ $/SF/YR $5.868 DESCRIPTION OF WORK BUDGET Purchase Price 650,000.00$ Closing Costs 21,627.52$ Appraisal 3,000.00$ General Conditions 50,000.00$ Pest Control - Maintenance 3,000.00$ Asbestos Abatement / Environmental - Enviromental 52,000.00$ Demolition - Improvements 64,257.61$ Sitework / Paving / Landscape / Fencing - Improvements 20,000.00$ Masonry Repair - Improvements 5,000.00$ Metal Panel Siding - Improvements 5,000.00$ Framing / Trim / Exterior Repair - Improvements 85,000.00$ Roofing / Insulation - Improvements 100,500.00$ Doors / Windows / Storefronts - Improvements 120,000.00$ Drywall / Tile / Flooring / Paint / Final Clean - Improvements 260,000.00$ Bath Accessories / Signage - Improvements 15,000.00$ Restaurant Finish Out -75,000.00$ Cabinets / Countertops / Window Treatments - Improvements 40,000.00$ Plumbing - Improvements 118,871.00$ Fire Sprinkler / Fire Alarm - Improvements 30,000.00$ HVAC - Improvements 185,000.00$ Electrical / Light Fixtures - Improvements 160,000.00$ Data / Internet - Improvements 26,500.00$ Security - Improvements 25,000.00$ Elevator - Improvements 20,000.00$ Architectural & Other Consultants - Improvements 40,000.00$ MEP - Improvements 17,500.00$ Permits - Improvements 11,500.00$ Insurance - Builders Risk & Gen Liability - Insurance 25,345.41$ Principle, Interest & Tax Payments - Loan 175,000.00$ Leasing Commissions - Leasing 54,000.00$ Development Fees - Improvemments 125,000.00$ TOTAL 2,583,101.54$ Plus Contingency 150,000.00$ GRAND TOTAL 2,733,101.54$ May 17, 2021 Mr. Jeff Frazier Interbank 300 N. Hwy 77 Waxahachie, Texas 75165 RE: Loan Request for 2910 S. Beckley Avenue, Dallas, Texas 75224 Dear Mr. Frazier, Attached is a loan package for the property we have been discussing. As you will see it is about 50% pre - leased. We will finish the majority of the construction on or before August 1, 2021. We are requesting a $2,050,000 loan with the best terms you can offer. Thank you for your consideration. Monte Anderson Beckley Settlement, LLC / Manager Options Real Estate Investments, Inc. / President 214-546-1200 SEC. 51A-4.122. RETAIL DISTRICTS. (a) Neighborhood service [NS(A)] district. (1) Purpose. To accommodate convenience retail shopping, services, and professional offices principally servicing and compatible in scale and intensity of use with adjacent residential uses. (2) Main uses permitted. (A) Agricultural uses. -- Crop production. (B) Commercial and business service uses. None permitted. (C) Industrial uses. -- Gas drilling and production. [SUP] -- Temporary concrete or asphalt batching plant. [By special authorization of the building official.] (D) Institutional and community service uses. -- Adult day care facility. -- Cemetery or mausoleum. [SUP] -- Child-care facility. -- Church. -- College, university, or seminary. [SUP] -- Community service center. [SUP] -- Convent or monastery. -- Library, art gallery, or museum. -- Open-enrollment charter school or private school. [SUP] -- Public school other than an open-enrollment charter school. [RAR] (E) Lodging uses. None permitted. (F) Miscellaneous uses. -- Attached non-premise sign. [SUP] -- Carnival or circus (temporary). [By special authorization of the building official.] -- Temporary construction or sales office. (G) Office uses. -- Financial institution without drive-in window. -- Medical clinic or ambulatory surgical center. -- Office. (H) Recreation uses. -- Country club with private membership. -- Private recreation center, club,or area. [SUP] -- Public park, playground, or golf course. (I) Residential uses. -- College dormitory, fraternity, or sorority house. [SUP] (J) Retail and personal service uses. -- Dry cleaning or laundry store. -- General merchandise or food store 3,500 square feet or less. -- Motor vehicle fueling station. [SUP] -- Personal service uses. -- Restaurant without drive-in or drive-through service. [RAR] (K) Transportation uses. -- Transit passenger shelter. -- Transit passenger station or transfer center. [By SUP or city council resolution. See Section 51A-4.211.] (L) Utility and public service uses. -- Electrical substation. [SUP] -- Local utilities. [SUP or RAR may be required. See Section 51A-4.212(4).] -- Police or fire station. [SUP] -- Post office. [SUP] -- Radio, television, or microwave tower. [SUP] -- Tower/antenna for cellular communication. [See Section 51A-4.212(10.1).] -- Utility or government installation other than listed. [SUP] (M) Wholesale, distribution, and storage uses. -- Recycling drop-off container. [See Section 51A-4.213 (11.2).] -- Recycling drop-off for special occasion collection. [See Section 51A-4.213 (11.3).] (3) Accessory uses. As a general rule, an accessory use is permitted in any district in which the main use is permitted. Some specific types of accessory uses, however, due to their unique nature, are subject to additional regulations contained in Section 51A-4.217. For more information regarding accessory uses, consult Section 51A-4.217. The following accessory uses are not permitted in this district: -- Accessory community center (private). -- Accessory helistop. -- Accessory medical/infectious waste incinerator. -- Accessory pathological waste incinerator. -- Amateur communication tower. -- Home occupation. -- Private stable. (4) Yard, lot, and space regulations. (Note: The yard, lot, and space regulations in this subsection must be read together with the yard,lot, and space regulations contained in Division 51A-4.400. In the event of a conflict between this subsection and Division 51A-4.400, Division 51A-4.400 controls.) (A) Front yard. Minimum front yard is 15 feet. (B) Side and rear yard. Minimum side and rear yard is: (i) 20 feet where adjacent to or directly across an alley from an R, R(A), D, D(A), TH, TH(A), CH, MF, or MF(A) district; and (ii) no minimum in all other cases. (C) Dwelling unit density. No maximum dwelling unit density. (D) Floor area ratio. Maximum floor area ratio is 0.5. (E) Height. (i) Residential proximity slope. If any portion of a structure is over 26 feet in height, that portion may not be located above a residential proximity slope. Exception: Except for chimneys, structures listed in Section 51A-4.408(a)(2)may project through the slope to a height not to exceed the maximum structure height, or 12 feet above the slope, whichever is less. Chimneys may project through the slope to a height 12 feet above the slope and 12 feet above the maximum structure height. (ii) Maximum height. Unless further restricted under Subparagraph (i), maximum structure height is: (aa) 35 feet for a structure with a gable, hip, or gambrel roof; and (bb) 30 feet for any other structure. (F) Lot coverage. Maximum lot coverage is 40 percent. Aboveground parking structures are included in lot coverage calculations;surface parking lots and underground parking structures are not. (G) Lot size. No minimum lot size. (H) Stories. Maximum number of stories above grade is two. Parking garages are exempt from this requirement, but must comply with the height regulations of Subparagraph (E). (5) Off-street parking and loading. Consult the use regulations (Division 51A-4.200) for the specific off-street parking requirements for each use. Consult the off-street parking and loading regulations (Divisions 51A-4.300 et seq.) for information regarding off-street parking and loading generally. (6) Environmental performance standards. See Article VI. (7) Landscape regulations. See Article X. (8) Additional provisions. (A) Development impact review. A site plan must be submitted and approved in accordance with the requirements of Section 51A-4.803 before an application is made for a permit for work in this district if the estimated trip generation for all uses on the lot collectively is equal to or greater than 6,000 trips per day and 500 trips per acre per day. See Table 1 in Section 51A-4.803 to calculate estimated trip generation. (B) Visual intrusion. No portion of any balcony or opening that faces an R, R(A), D, D(A), TH, TH(A), CH, MF-1, MF-1(A), MF-1(SAH),MF-2, MF- 2(A), or MF-2(SAH) district may penetrate or be located above a residential proximity slope originating in that district. (See Section 51A-4.412.) For purposes of this paragraph, the term “opening” means an open and unobstructed space or a transparent panel in an exterior wall or door from which there can be visual surveillance into the yard of a residential use.