McComb, Mississippi

Net Lease Investment | 6.6% cap rate
McComb, Mississippi
Net Lease Investment
McComb, Mississippi
Representative Photo
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Net Lease Investment
McComb, Mississippi
Table of Contents
Pizza Hut - 6.6% cap rate
For more information, please contact:
Nancy Miller, CCIM/MBA
SVP, National Net Lease
Investment Group
(404) 876-1640 x 118
[email protected]
William Jackel
VP, National Net Lease
Investment Group
(404) 876-1640 x 173
[email protected]
Investment Highlights
3
Property Information
4
Location Maps
5
Retail Map
6
Demographics & Traffic Counts
7
Tenant Overview
8
Broker Profiles
9
Confidentiality Agreement
Bull Realty, Inc.
50 Glenlake Parkway
Suite 600
Atlanta, GA 30328
www.BullRealty.com
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
10
Net Lease Investment
McComb, Mississippi
Investment Highlights
Bull Realty is pleased to offer this corporate guaranteed, absolute NNN
Pizza Hut/Wing Street in McComb, MS. This is a solid single tenant investment with a low rent to sales ratio of only 6%. The store was
reimaged in 2014, demonstrating the tenant’s long term commitment to
this location. The initial lease term runs through January of 2023 with
two 5 year options and provides 5% rent increases every 5 years. The
store is situated on a large 1+ acre parcel in a vibrant trade area with
nearby retail, hospitality and medical facilities and easy access to Interstate 55. The offered cap rate for this rare quality single tenant property
is 6.6%.
Actual Location
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Lease term through January 2023 with options
NNN lease with no landlord responsibilities
Two renewal options with 5% rent bumps every 5 years
Low 6% rent to sales ratio
Store reimaged in 2014
Outstanding location - retail trade, hospitality & regional medical area
just off Interstate 55 between Jackson and New Orleans
+/- 3,794 sq ft store on +/- 1.07 acre parcel
Corporate guarantee by Pizza Hut
Offered for SALE at $1,400,000
Representative Photo
Re
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Net Lease Investment
McComb, Mississippi
Property Information
Rent Schedule
Property Information
Subject Property:
Single Tenant
Property Location:
101 Stacy Dawn Drive, McComb, MS 39648
Parish:
Pike
Price:
$1,400,000
Rentable Square Feet:
+/- 3,794
Price per Square Foot:
$369.00
Current Annual Income:
$92,394.48
Cap Rate:
6.6%
Rent Per Square Foot:
$24.35
Year Built:
2008 (re-imaged in 2014)
Lot Size:
+/- 1.07 acre
Type of Ownership:
Fee simple
Term
Years 1-10 of initial Term
Years 11-15 of Initial Term
Renewal Option 1
Renewal Option 2
Dates
2/2008-2/2018
3/2018-2/2023
3/2023-2/2028
3/2028-2/2033
Monthly Rent
$7,699.54
$8,084.52
$8,488.75
$8,913.19
Annual NOI Increase
$ 92,394.48
$ 97,014.24 5%
$101,865.00 5%
$106,958.28 5%
Lease Summary
Tenant Trade Name:
Pizza Hut
Tenant:
Pizza Hut of America, Inc.
Lease Type:
NNN (no Landlord responsibilities)
Rent Commencement:
2/11/2008
Lease Expiration:
2/29/2023
Renewal Options:
Two 5 year options
Rent Increases:
5% in year 11 and at option periods
Percentage Rent Clause:
No
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Actual Location
Net Lease Investment
McComb, Mississippi
Location Map
Jackson
55
Natchez
Hattiesburg
Baton Rouge
Gulfport
New Orleans
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Biloxi
Net Lease Investment
McComb, Mississippi
Retail Map
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Demographics & Traffic Counts
2015 Demographics (Esri)
1 mile
Population
2,968
Households
1,401
Average Household Income
$50,488
3 mile
Population
17,063
Households
6,748
Average Household Income
$39,761
5 mile
Population
22,930
Households
8,772
Average Household Income
$41,620
Representative Photo
Representative Photo
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Net Lease Investment
McComb, Mississippi
Net Lease Investment
McComb, Mississippi
Tenant Information
Pizza Hut, a subsidiary of Yum! Brands, is the world’s largest pizza company, with over 15,000 restaurants in 93 countries. Pizza Hut began 55 years ago in
Wichita, Kansas, and today is an iconic global brand that delivers more pizza, pasta and wings than any other restaurant in the world. Today, Pizza Hut’s global
sales are over $12 billion.
A true innovator in the pizza category, they were not only the first to provide America with Pan Pizza, but also the first ever online purchase.
Last year, Pizza hut was named the Harris Poll Equitrend Pizza Brand of the Year and received the top score in Customer Satisfaction among limited-service
restaurant chains from the American Customer-Satisfaction Index (ACSI). Pizza Hut is taking their powerful Pizza Hut Red Roof icon and accelerating their
growth of Delivery, Express and Dine-in channels around the world.
Pizza Hut began building delivery carryout units in 1988 and today it is the fasted growing part of
their business. With Delivery, the strategy is to take advantage of their existing scale and quickly
grow the brand in both developed and emerging markets. For example, in the past three years in
the U.S., Pizza Hut has built over 600 new “Delco” stores specializing in delivery and carry-out. And
the Express business - found in shopping malls, large retail chains, travel centers and on military
bases - is the clear leader in the U.S. and they are growing it internationally. Dine-in has always
been at the heart of their business.
As part of the YUM! Brands organization (NYSE: YUM), Pizza Hut is joined by other well recognized
names in the quick service industry including KFC and Taco Bell. YUM!, based in Louisville, KY, has
over 41,000 restaurants, including the Pizza Hut brand in over 125 counters. They employ
approximately 1.5 million associates globally and are proud of the culture they have created.
WEBSITE
Graph as of 9/11/2015
Subsidiary of Yum! Brands
parent of KFC
and of Taco Bell
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Net Lease Investment
McComb, Mississippi
Broker Profiles
NANCY MILLER
Nancy Miller joined Bull Realty in 2001 after being a client of the firm. She specializes in income producing properties, including single and
multi-tenant retail properties. Her primary focus is on national credit tenant investment properties. Since joining Bull Realty, Nancy has
successfully brokered nearly $250M in investment sales. She and the Net Lease Investment Group list and sell single tenant properties
throughout the US, and are recognized retail net lease industry leaders. They publish a quarterly investor newsletter, a monthly electronic
newsletter, periodic retail industry surveys, and contribute to the company’s retail blog. In addition, Nancy periodically appears on the
Commercial Real Estate Show, a national weekly radio show hosted and produced in Atlanta by broker Michael Bull.
Nancy Miller, CCIM, MBA
SVP | National Net Lease
Investment Group
(404) 876-1640 x 118
[email protected]
Nancy has held a real estate license for over 25 years and is licensed in several southeastern states. She is a Life Member of the Atlanta
Commercial Board of Realtors and a member of the International Council of Shopping Centers (ICSC). She holds the prestigious CCIM
designation. She also holds a Bachelor of Arts degree from Tulane University and an MBA from Emory University’s Goizueta Business
School.
WILL JACKEL
Will Jackel joined Bull Realty and its National Net Lease Investment Group, led by 14-year Bull Realty veteran broker and Senior Vice
President, Nancy Miller, in late 2013. Will recently completed his course work for the prestigious CCIM designation. In just over one year,
he has been involved in over $14M in single tenant transactions.
Prior to joining the Bull Realty team, Will played professional baseball from 2007—2011 with the Florida Marlins and the Philadelphia
Phillies. He brings his strong leadership and competitive skills honed on the baseball diamond to better serve his clients.
William Jackel
Associate| National Net
Lease Investment Group
(404) 876-1640 x 173
[email protected]
Most recently, Will owned and operated a baseball recruiting service, where he developed his passion for giving back through helping
student athletes obtain college scholarships. Baseball taught Will the value of preparation and how to persevere through adversity toward a
goal which makes him an outstanding real estate professional.
Will attended Florida State University and when not working, he enjoys hunting, fishing, hiking and most of all, spending quality time with his
three-year-old son.
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.
Net Lease Investment
McComb, Mississippi
Confidentiality Agreement
This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of the undersigned party (“Receiving Party”), the owner of the subject property (the “Seller”) and undersigned
broker Bull Realty Incorporated (“Broker”).
Now therefore in consideration of the privileges granted to Receiving Party with respect to receiving certain confidential information, and other good and valuable consideration, the Receiving
Party hereby agrees to the following:
I. Confidential Information:
Receiving Party will receive confidential information regarding property referred to as Pizza Hut, 101 Stacy Dawn Drive, McComb, MS. Prospect agrees to not disclose to any person that the
property may be available for sale or lease, or that discussions or negotiations are taking place concerning the property, n or any terms, conditions, or other facts with respect to the property,
including but not limited to tenant information, lease rates, lease expirations, income and expenses, and any such possible purchase, including the status thereof. The term “person” used in this
agreement shall be interpreted broadly and shall include, without limitation, any corporation, company, partnership or individual other than parties to which Broker approves in writing. Receiving
Party may share information with directors, officers, employees, agents, affiliates, counsel, lending sources, accountants or representatives of Receiving Party that Receiving Party notifies of the
requirements of this Agreement. Receiving Party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers
of any business at the site.
II. Acting as a Principal:
Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding this contemplated transaction. Receiving Party acknowledges that Broker is working an agency
capacity as representing the Seller only in this transaction and is the only Broker involved in this potential transaction. Receiving Party agrees to not be involved in any arrangement to lease or
purchase the property, in whole or in part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in any other manner acquire an investment in, joint venture or
control of the property, unless Bull Realty, Incorporated is paid a commission at closing as per separate agreement with Seller.
This agreement will expire two years from the date hereof.
III. Governing Law
This Agreement shall be governed and construed in accordance with the laws of the State of Mississippi.
Accepted and agreed to this _______ day of ___________________, 2015.
Receiving Party
Email ______________________________________________________________________
Signature ___________________________________________________________________
Printed Name _______________________________________________________________
Phone _____________________________________________________________________
Fax ________________________________________________________________________
Title _______________________________________________________________________
Company Name _____________________________________________________________
Broker
Address ____________________________________________________________________
Signature ___________________________________________________________________
____________________________________________________________________
Printed Name ________________________________________________________________
You may return the executed agreement by fax (404) 876-7073 or email [email protected]
Bull Realty, Inc. | 50 Glenlake Parkway, Suite 600 | Atlanta, GA 30328
Nancy Miller MS License #S49841
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Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate. Information should be independently confirmed within an applicable due diligence period.