Hardee`s - EXP Realty Advisors
Transcription
Hardee`s - EXP Realty Advisors
Hardee’s High Volume Store 102 Highway 28 Bypass – Anderson, SC 29624 Price: $2,368,887 | NOI: $125,551 | CAP: 5.30% Robert P. James President Phone: (212) 686-0072 Email: [email protected] Aron Holewinski Associate Director of Sales Phone: (212) 972-7457 E-mail: [email protected] www.exp1031.com Corporate Guarantee by Hardee’s Restaurants LLC Sales exceed Hardee’s Average Unit Volume by over 68% Absolute Triple Net Lease with 18 years of remaining lease term Rent to Sales Ratio of 6.47% 10% rent escalations every 5 years Located along major retail corridor of Anderson, South Carolina Population growth of 6.91% (2010-2014) and projected 4.13% (2014-2019) This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. Hardee’sValley Ranch Whisper Property Line Investment Overview Map PROPERTY OVERVIEW: EXP Realty Advisors, Inc. presents for sale this corporate, high volume restaurant, which has over 18 years of remaining lease term and 10% rent bumps every five years. The rent to sales ratio is low at 6.47% and sales are 68% above average unit volume for the chain. On September 5, 2017, the rent escalates to 133,706, making this a 5.70% cap. The lease is guaranteed by Hardee’s Restaurants, LLC, a subsidiary of CKE Restaurants Holdings Inc. The location is a top performer for Hardee’s with strong store sales. The property is strategically located at a hard-corner, signalized intersection, adjacent to Walgreen’s and across from CVS, and between Bi-Lo and Quality Foods. Other nearby retailers include Arby’s, Advanced Auto Parts, Burger King, Dollar General, Exxon, Family Dollar, Fred’s Super Dollar Store, Goodwill, Lowe’s, McDonald’s, Pizza Hut, O’Reilly Auto Parts, Ryan’s, TD Bank, Subway, and Taco Bell. The restaurant is less than a mile on Highway 28 from the Watson Village Shopping Center in Homeland Park, with tenants including Suntrust Bank, Rent-A-Center, H&R Block, and ACE Hardware. LOCATION OVERVIEW: The restaurant sits at the intersection of Highway 128 and South Main Street, which connects Highway 128 to U.S. Route 29. South Carolina Highway 128, is a primary state highway, which runs east-west from Georgia to South Carolina. U.S. Route 29 is a north-south US highway that runs from Florida to Maryland. Anderson’s economy revolves around manufacturing, with over 230 manufacturers in such industries as automotive products, metal products, industrial machinery, publishing, and plastics. BMW has a substantial presence in the Upstate region, with an assembly plant 45 miles away in Spartanburg, PA. LEASE SUMMARY: Remaining Lease Term: Current Rent: Escalations: Expiration Date: Options: Lease Type: INVESTMENT SUMMARY Price: $2,368,887 CAP Rate: 5.30% Sales: 68% above average NNN Rent: $125,551 Rent to Sales: 6.47% Escalations: 10% every 5 years (in base term & options) Bld. Sq Ft: 3,183 sf Land Size: 1.53 acres Lease Type: Absolute Triple Net 18 Years $125,551 10% every 5 years in base term & options September 2032 Four, (5) year options Absolute Triple Net Lease TENANT OVERVIEW: HARDEE’S RESTAURANTS, LLC Hardee’s Restaurant LLC is a wholly owned subsidiary of CKE Restaurants, the owner of the Hardee’s and Carl’s Jr brands. Hardee’s predominantly operates in the South and Midwest states. Along with its sibling restaurant chain, Carl’s Jr., Hardee’s is the 5th largest fast-food restaurant chain in the United States after Subway, McDonald’s, Burger King and Wendy’s. This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. INVESTMENT OVERVIEW Hardee’sValley Ranch Whisper AerialHistory Property Area Line Map AERIAL Hardee’sValley Ranch Whisper AerialHistory Property Area Line Map AERIAL Hardee’sValley Ranch Whisper Location Line Map Map Property This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. LOCATION MAP Hardee’sValley Ranch Whisper Demographic Property Line Data Map Radius Population: 2019 Projection 2014 Estimate 2010 Census Growth 2014-2019 Growth 2010-2014 2014 Population Hispanic Origin 2014 Population by Race: White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other Households: 2019 Projection 2014 Estimate 2010 Census Growth 2014 - 2019 Growth 2010 - 2014 Owner Occupied Renter Occupied 2014 Avg Household Income 2014 Med Household Income 3 Miles 5 Mile 10 Mile 28,156 27,039 25,291 4.13% 6.91% 58,306 56,556 54,660 3.09% 3.47% 112,932 109,716 106,573 2.93% 2.95% 1,272 2,387 3,738 14,068 12,278 99 94 18 483 36,158 18,843 186 391 25 953 81,896 24,800 325 1,048 40 1,606 11,323 10,866 10,143 4.21% 1.77% 5,540 5,326 $33,401 $23,089 23,384 22,673 21,903 3.14% 0.93% 13,088 9,585 $42,642 $31,128 44,998 43,701 42,442 2.97% 0.92% 29,236 14,465 $52,555 $36,399 5,881 2,820 1,209 512 230 120 53 40 9,514 6,715 3,136 1,514 921 446 207 220 15,434 12,398 6,732 3,811 2,306 1,178 818 1,024 EXP Realty Advisors 118 East 28th Street Suite #901 New York, NY 10016 Phone: (212) 972-7457 Fax: (212) 686-0078 www.exp1031.com Our Team 2014 Households by Household Inc: <$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200,000+ Contact Us Robert P. James President Phone: (212) 686-0072 Email: [email protected] Aron Holewinski Associate Director of Sales Phone: (212) 972-7457 E-mail: [email protected] This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. DEMOGRAPHIC DATA