buffalo wild wings - Market Street Retail Advisors

Transcription

BUFFALO WILD WINGS
– RUSSELLVILLE, AR –
Prepared By:
Harrison Truex
Managing Partner
(615) 309-6100
[email protected]
Ben Sullivan
Managing Partner
(615) 309-6111
[email protected]
CONFIDENTIALITY & DISCLAIMER
Buffalo Wild Wings
The information contained in the following Marketing Brochure is proprietary and strictly
confidential. It is intended to be reviewed only by the party receiving it from Market Street
Retail Advisors and should not be made available to any other person or entity without the
written consent of Market Street Retail Advisors. This Marketing Brochure 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. Market Street Retail Advisors have not
made any investigation, and make 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 improvements 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 Marketing Brochure has been obtained
from sources we believe to be reliable; however, Market Street Retail Advisors have not verified,
and will not verify, any of the information contained herein, nor have Market Street Retail
Advisors 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.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT
YOUR MARKET STREET AGENT FOR MORE DETAILS.
Market Street Retail Advisors
5141 Virigina Way, Suite 320, Brentwood, TN 37027
T: 615.309.6100 | F: 615.523.4990
Harrison Truex
Ben Sullivan
Managing Partner
[email protected]
Managing Partner
[email protected]
TABLE OF CONTENTS
Buffalo Wild Wings
1
2
3
PROPERTY PROFILE
4
Offering Summary
Property Summary
Photos
Tenant Overview
Location Maps
Aerial Views
Demographics
5
6
7
8
9
10
11
FINANCIAL ANALYSIS
12
Executive Summary
Financial Analysis
10-Year Projections
13
14
15
MARKET COMPARABLES
20
On Market Comparables
Map of On Market
21
24
1. Property Profile
OFFERING SUMMARY
Buffalo Wild Wings
PURCHASE SUMMARY
Offering Price
$4,533,000
Down Payment*
$1,133,250
Price Per Square Foot
$906.60
Capitalization Rate
6.00%
10 Year Capitalization Rate
6.30%
Cash-on-Cash Return*
6.81%
10 Year Cash-on-Cash Return*
8.01%
Unleveraged 10-year IRR
6.40%
Leveraged 10-year IRR*
11.82%
*Assumes Proposed Financing
PROPERTY SUMMARY
Buffalo Wild Wings
LOCATION
County
Property Address (Approximate)
SITE
Tenant Name
Lease Guarantor - Franchisee
Industry Type
Rentable Square Feet
Number of Buildings
Year Built
COMPANY STATISTICS
No. of Stores, As of Dec. 28, 2014
Construction Plans for 2015
2014 Restaurant Sales Increase
No. of Arkansas Stores
STORE SPECIFIC SALES FIGURES
Opening Date
First Six Months of Sales
Yearly Sales; Annualized (Apr14-Apr15)
Pope
2212 East Parkway
Russellville, AR 72802
Buffalo Wild Wings
Hunt Properties, LLC
Restaurant
5,000
1
2014
491 Company Owned
591 Franchise Owned
50 New Corporate Sites
50 New Franchise Sites
23% ($221.4M)
11 (All Franchised)
April 14th, 2014
$1,895,521
$3,791,042
7.17% Rent/Sales
MONTHLY SALES (April 14th 2014 - February 8th, 2015)
$278,977
April 2014
May 2014
$398,128
June 2014
$292,746
July 2014
$250,282
August 2014
$279,221
September 2014
$268,238
October 2014
$265,329
November 2014
$222,139
December 2014
$230,931
Jan-14
$262,927
Feb-14
$68,191
PHOTOS
Buffalo Wild Wings
TENANT OVERVIEW
Buffalo Wild Wings
HEADQUARTERED:
5500 Wayzata Boulevard, Suite 1600
Minneapolis, MN 55416
NO. OF LOCATIONS:
Over 1,070
AREAS OF OPERATION:
50 States, Canada, Mexico, Puerto Rico, Middle East, Phillippines
HISTORY:
"Buffalo Wild Wings was founded in 1982 by Jim Disbrow and Scott
Lowery, business partners living in Columbus, Ohio, who were driven
by hunger and were unable to find their favorite Buffalo, New Yorkstyle chicken wings. The pair took matters into their own hands,
creating their own signature wing sauce and opened the first Buffalo
Wild Wings restaurant near the campus of The Ohio State University.
In 1994, CEO Sally Smith came on board to put in place the
necessary infrastructure needed to further grow the concept. Smith has
since grown the brand to more than 1,025 restaurants, and has set a
goal of having 1,700 restaurants across North America in the next 10
years. The company’s international expansion began in Canada and
continued into Mexico. Additional locations will open in Mexico, the
Middle East and the Philippines.."
- Buffalo Wild Wings
WEBSITE:
www.buffalowildwings.com
LOCATION MAPS
Buffalo Wild Wings
Buffalo Wild Wings
Russellville, AR
Buffalo Wild Wings
Russellville, AR
retail advisors
40
40
Ea
East Parkway
st
Weir Rd.
Weir Rd.
M
ai
n
St
.
DEMOGRAPHICS
Buffalo Wild Wings
Description
POPULATION BY YEAR
Population (4/1/1990)
Percent Growth (2013/2010)
Percent Forecast (2018/2013)
1 Miles
3 Miles
5 Miles
2,812
3,707
3,907
3,965
4,040
1.48
1.89
18,079
20,101
23,396
23,702
24,151
1.31
1.89
28,342
34,012
39,187
39,839
40,635
1.66
2
1,188
1,540
1,542
1,560
1,600
1.17
2.56
6,853
7,905
8,549
8,632
8,854
0.97
2.57
10,508
12,986
14,612
14,793
15,167
1.24
2.53
GENERAL POPULATION CHARACTERISTICS
Median Age
Male
Female
Density
Urban
Rural
25.8
2,085
1,822
1,434.90
3,888
19
27.2
11,580
11,816
1,193.90
22,388
1,008
32.4
19,350
19,837
355.8
28,645
10,542
GENERAL HOUSEHOLD CHARACTERISTICS
Households (4/1/2010)
Families
Non-Family Households
Average Size of Household
Median Age of Householder
Median Value Owner Occupied ($)
Median Rent ($)
Median Vehicles Per Household
1,542
793
749
2.21
37.8
85,217
471
2
8,549
5,068
3,481
2.37
44.5
100,180
468
2.1
14,612
9,650
4,962
2.46
48.8
123,453
465
2.3
GENERAL HOUSING CHARACTERISTICS
Housing, Units
Housing, Owner Occupied
Housing, Renter Occupied
Housing, Vacant
1,651
476
1,066
109
9,259
3,923
4,626
710
15,735
8,907
5,705
1,123
POPULATION BY RACE
White Alone
Black Alone
Asian Alone
American Indian and Alaska Native Alone
Other Race Alone
Two or More Races
3,169
322
80
26
205
105
19,168
1,452
374
166
1,655
581
33,793
1,669
536
245
2,048
896
POPULATION BY ETHNICITY
Hispanic
White Non-Hispanic
430
2,978
2,935
18,090
3,725
32,395
76,207,284
50,585,550
27,085
32,805
19,505
2
433,634,870
387,655,660
31,782
45,345
18,535
12
857,897,045
809,866,286
41,569
55,425
21,892
20
HOUSEHOLDS BY YEAR
Percent Growth (2013/2010)
Percent Forecast (2018/2013)
GENERAL INCOME CHARACTERISTICS
Total Personal Income ($)
Total Household Income ($)
Median Household Income ($)
Average Household Income ($)
Per Capita Income ($)
BLOCK GROUP COUNT
Location:
Address:
Latitude:
Longitude:
Buffalo Wild Wings
2212 East Parkway
35° : 16' : 57"
-93° : 06' : 27"
Footnotes:
Easy Analytic Software, Inc. (EASI) is the
source of all updated estimates. All other
data are derived from the US Census and
other official government sources.
2. Financial Analysis
EXECUTIVE SUMMARY
OVERVIEW
Buffalo Wild Wings
Property Summary
Tenant
Property Address
Rentable Square Feet
Year Built
Acreage (±)
Parcel No.
Buffalo Wild Wings
2212 East Parkway | Russellville, AR
5,000
2014
≈ 1.60 acres (69,696 SF)
934-20001-000C
Lease Details
Lease Commenced
Lease Expires
Landlord Responsibilities
Increases
Options
Percentage Rent
March 1, 2015
March 1, 2035
None
Yes, 5% Increases every 5 Years
2-5 Year Options
None
Purchase Summary
Offering Price
Down Payment
Price per Square Foot
Unleveraged 10-Year IRR
Leveraged 10-Year IRR
25.00%
$4,533,000
$1,133,250
$906.60
6.40%
11.82%
Operations Summary
Year 1
Year 10
Net Operating Income
$272,000
$285,600
6.00%
6.30%
Capitalization Rate
Financing Summary
Buffalo Wild Wings
Buyer To Obtain New Debt
75.00%
Proposed Loan Amount
Interest Rate
Years of Amortization
Years until Term
Monthly Payment
$3,399,750
4.00%
30
10
($16,231)
Prepared By:
Harrison Truex
Managing Partner
Rent Summary
Ben Sullivan
Managing Partner
$400,000
$300,000
$200,000
$100,000
$0
Rent Increases
EXECUTIVE SUMMARY
FINANCIAL ANALYSIS
Buffalo Wild Wings
Income Summary
Term
Monthly
Yearly
PSF
yr. 1
March 2015
March 2016
$22,666.67
$272,000
$54.40
yr. 2
March 2016
March 2017
$22,666.67
$272,000
$54.40
yr. 3
March 2017
March 2018
$22,666.67
$272,000
$54.40
yr. 4
March 2018
March 2019
$22,666.67
$272,000
$54.40
yr. 5
March 2019
March 2020
$22,666.67
$272,000
$54.40
yr. 6
March 2020
March 2021
$23,800.00
$285,600
$57.12
yr. 7
March 2021
March 2022
$23,800.00
$285,600
$57.12
yr. 8
March 2022
March 2023
$23,800.00
$285,600
$57.12
yr. 9
March 2023
March 2024
$23,800.00
$285,600
$57.12
yr. 10
March 2024
March 2025
$23,800.00
$285,600
$57.12
yr. 11
March 2025
March 2026
$24,990.00
$299,880
$59.98
yr. 12
March 2026
March 2027
$24,990.00
$299,880
$59.98
yr. 13
March 2027
March 2028
$24,990.00
$299,880
$59.98
yr. 14
March 2028
March 2029
$24,990.00
$299,880
$59.98
yr. 15
March 2029
March 2030
$24,990.00
$299,880
$59.98
yr. 16
March 2030
March 2031
$26,239.50
$314,874
$62.97
yr. 17
March 2031
March 2032
$26,239.50
$314,874
$62.97
yr. 18
March 2032
March 2033
$26,239.50
$314,874
$62.97
yr. 19
March 2033
March 2034
$26,239.50
$314,874
$62.97
yr. 20
March 2034
March 2035
$26,239.50
$314,874
$62.97
Opt 1
21-25
March 2035
March 2040
$27,551.48
$330,618
$66.12
Opt 2
26-30
March 2040
March 2045
$28,929.05
$347,149
$69.43
10-YEAR RETURNS
Buffalo Wild Wings
OPERATING DATA
Equity
Rent
CAP Rate
DEBT SERVICE
(Principal Paydown)
(Interest Payment)
(Mortgage Insurance)
(Mortgage Repayment)
(Loan Fees)
Total Debt Service
Leveraged Cash Flow
($1,133,250)
Leveraged Return on Initial Equity
Leveraged Return on Accumulated Equity
Coverage Ratio
EOY 1
EOY 2
EOY 3
EOY 4
EOY 5
EOY 6
EOY 7
EOY 8
EOY 9
EOY 10
EOY 11
$272,000
$272,000
6.00%
$272,000
$272,000
6.00%
$272,000
$272,000
6.00%
$272,000
$272,000
6.00%
$272,000
$272,000
6.00%
$285,600
$285,600
6.30%
$285,600
$285,600
6.30%
$285,600
$285,600
6.30%
$285,600
$285,600
6.30%
$285,600
$285,600
6.30%
$299,880
$299,880
6.62%
EOY 1
EOY 2
EOY 3
EOY 4
EOY 5
EOY 6
EOY 7
EOY 8
EOY 9
EOY 10
($61,176) ($63,668) ($66,262) ($68,962) ($71,772) ($74,696) ($77,739) ($80,906) ($84,202) ($87,633)
($133,595) ($131,103) ($128,509) ($125,809) ($123,000) ($120,075) ($117,032) ($113,865) ($110,569) ($107,138)
($194,771) ($194,771) ($194,771) ($194,771) ($194,771) ($194,771) ($194,771) ($194,771) ($194,771) ($194,771)
$77,229
6.81%
11.59%
$77,229
6.81%
11.20%
$77,229
6.81%
10.83%
$77,229
6.81%
10.49%
$77,229
6.81%
10.17%
$90,829
8.01%
10.75%
$90,829
8.01%
10.42%
$90,829
8.01%
10.11%
$90,829
8.01%
9.82%
$90,829
8.01%
9.54%
1.40
1.40
1.40
1.40
1.40
1.47
1.47
1.47
1.47
1.47
DISCOUNTED CASH FLOW ANALYSIS
Buffalo Wild Wings
Assumptions:
Unleveraged Acquisition Cost
Analysis Term
Terminal CAP Rate
Cost of Sale
UNLEVERAGED
Unleveraged Cash Flow
Net Unleveraged Residual
Year End Cash Flow
$4,533,000
10 Years
6.00%
6.00%
Equity
EOY 1
EOY 2
EOY 3
EOY 4
LEVERAGED
EOY 8
EOY 9
$272,000
$272,000
$272,000
$272,000
$285,600
$285,600
$285,600
$285,600
($4,533,000)
$272,000
$272,000
$272,000
$272,000
$272,000
$285,600
$285,600
$285,600
$285,600
EOY 10
$285,600
$4,697,775
$4,983,375
Present
Values
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
$261,538
$256,604
$251,852
$247,273
$242,857
$238,596
$234,483
EOY 1
$251,479
$242,079
$233,196
$224,793
$216,837
$209,295
$202,140
EOY 2
$241,807
$228,376
$215,922
$204,358
$193,604
$183,592
$174,259
EOY 3
$232,507
$215,449
$199,928
$185,780
$172,861
$161,046
$150,223
EOY 4
$223,564
$203,254
$185,119
$168,891
$154,340
$141,268
$129,503
EOY 5
Net Present
Value
$225,714
$201,337
$179,976
$161,214
$144,694
$130,116
$117,222
EOY 6
$217,033
$189,940
$166,645
$146,558
$129,191
$114,136
$101,054
EOY 7
$208,685
$179,189
$154,301
$133,235
$115,349
$100,120
$87,115
EOY 8
$200,659
$169,046
$142,871
$121,122
$102,990
$87,824
$75,099
EOY 9
($1,133,250)
$77,229
$77,229
$77,229
$77,229
$77,229
$90,829
$90,829
$90,829
$90,829
($1,133,250)
$77,229
$77,229
$77,229
$77,229
$77,229
$90,829
$90,829
$90,829
$90,829
Discount
Rate
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
EOY 7
$272,000
Equity
Leveraged Cash Flow
Net Leveraged Residual
Year End Cash Flow
EOY 6
($4,533,000)
Discount
Rate
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
EOY 5
$3,366,589
$2,782,690
$2,308,267
$1,921,307
$1,604,513
$1,344,234
$1,129,649
EOY 10
$90,829
$2,035,040
$2,125,869
Present
Values
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
$73,551
$70,208
$67,156
$64,357
$61,783
$59,407
$57,207
$70,049
$63,826
$58,396
$53,631
$49,426
$45,698
$42,375
$66,713
$58,023
$50,779
$44,693
$39,541
$35,152
$31,389
$63,536
$52,748
$44,156
$37,244
$31,633
$27,040
$23,251
$60,511
$47,953
$38,396
$31,037
$25,306
$20,800
$17,223
$896,575
$134,965
($494,923)
($1,018,471)
($1,455,764)
($1,822,772)
($2,132,252)
Net Present
Value
$67,778
$51,271
$39,268
$30,418
$23,810
$18,818
$15,004
$64,550
$46,610
$34,146
$25,349
$19,048
$14,475
$11,114
$61,477
$42,372
$29,692
$21,124
$15,239
$11,135
$8,233
$58,549
$38,520
$25,819
$17,603
$12,191
$8,565
$6,098
$1,305,099
$819,615
$525,482
$343,340
$228,263
$154,207
$105,730
$758,564
$157,896
($219,959)
($464,454)
($627,009)
($737,955)
($815,624)
10-YEAR YIELDS
Buffalo Wild Wings
RESIDUAL CALCULATION
Terminal CAP Rate
Residual Value
(Selling Expense)
Net Unleveraged Residual
(Outstanding Debt)
Net Leveraged Residual
UNLEVERAGED YIELD
Holding Period
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
LEVERAGED YIELD
Holding Period
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Equity
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
($4,533,000)
Equity
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
($1,133,250)
EOY 1
EOY 2
EOY 3
EOY 4
EOY 5
EOY 6
EOY 7
EOY 8
EOY 9
EOY 10
$272,000
6.00%
$4,533,000
($271,980)
$4,261,020
($3,338,574)
$922,446
$272,000
6.00%
$4,533,000
($271,980)
$4,261,020
($3,274,906)
$986,114
$272,000
6.00%
$4,533,000
($271,980)
$4,261,020
($3,208,643)
$1,052,377
$272,000
6.00%
$4,533,000
($271,980)
$4,261,020
($3,139,681)
$1,121,339
$272,000
6.00%
$4,759,650
($285,579)
$4,474,071
($3,067,910)
$1,406,161
$285,600
6.00%
$4,759,650
($285,579)
$4,474,071
($2,993,214)
$1,480,857
$285,600
6.00%
$4,759,650
($285,579)
$4,474,071
($2,915,475)
$1,558,596
$285,600
6.00%
$4,759,650
($285,579)
$4,474,071
($2,834,569)
$1,639,502
$285,600
6.00%
$4,759,650
($285,579)
$4,474,071
($2,750,367)
$1,723,704
$285,600
6.00%
$4,997,633
($299,858)
$4,697,775
($2,662,734)
$2,035,040
EOY 1
EOY 2
EOY 3
EOY 4
EOY 5
EOY 6
EOY 7
EOY 8
EOY 9
EOY 10
$4,533,020
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
EOY 1
$999,675
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$4,533,020
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
EOY 2
$1,063,343
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$4,533,020
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
EOY 3
$1,129,605
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$4,533,020
$272,000
$272,000
$272,000
$272,000
$272,000
$272,000
EOY 4
$1,198,567
$77,229
$77,229
$77,229
$77,229
$77,229
$77,229
$4,746,071
$272,000
$272,000
$272,000
$272,000
$272,000
EOY 5
$1,483,390
$77,229
$77,229
$77,229
$77,229
$77,229
$4,759,671
$285,600
$285,600
$285,600
$285,600
EOY 6
$1,571,686
$90,829
$90,829
$90,829
$90,829
$4,759,671
$285,600
$285,600
$285,600
EOY 7
$1,649,424
$90,829
$90,829
$90,829
$4,759,671
$285,600
$285,600
EOY 8
$1,730,330
$90,829
$90,829
$4,759,671
$285,600
EOY 9
$1,814,533
$90,829
$4,983,375
EOY 11
$299,880
IRR
0.00%
3.05%
4.08%
4.60%
5.77%
5.86%
5.92%
5.97%
6.00%
6.40%
EOY 10
$2,125,869
IRR
-11.79%
0.33%
4.54%
6.58%
10.70%
10.86%
10.92%
10.93%
10.91%
11.82%
NOI & RESIDUAL VALUE SUMMARY
Buffalo Wild Wings
Net Operating Income (NOI) Excluding Disposition Proceeds
$285,600
$285,600
$285,600
$285,600
$285,000
$285,600
$290,000
EOY 6
EOY 7
EOY 8
EOY 9
EOY 10
$280,000
$272,000
$272,000
$272,000
$272,000
$270,000
$272,000
$275,000
EOY 1
EOY 2
EOY 3
EOY 4
EOY 5
$265,000
Residual Property Value - Terminal CAP Rate = 6.00%
$5,100,000
$4,997,633
$5,000,000
$4,900,000
EOY 3
EOY 4
$4,759,650
EOY 2
$4,759,650
$4,533,000
EOY 1
$4,759,650
$4,533,000
$4,400,000
$4,533,000
$4,500,000
$4,533,000
$4,600,000
$4,759,650
$4,700,000
$4,759,650
$4,800,000
EOY 5
EOY 6
EOY 7
EOY 8
EOY 9
$4,300,000
EOY 10
RETURN & YIELD SUMMARY
Buffalo Wild Wings
10-Year Returns
9.00%
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
EOY 1
EOY 2
EOY 3
EOY 4
EOY 5
CAP Rate (On Purchase Price)
EOY 6
EOY 7
EOY 8
EOY 9
EOY 10
EOY 8
EOY 9
EOY 10
Leveraged Return on Initial Equity
10-Year Yields
15.00%
10.00%
5.00%
0.00%
EOY 1
EOY 2
EOY 3
EOY 4
EOY 5
EOY 6
EOY 7
-5.00%
-10.00%
-15.00%
Unleveraged IRR (Yield)
Leveraged IRR (Yield)
3. Market Overview
ON MARKET
On Market Comp #4
On Market Comp #3
On Market Comp #2
On Market Comp #1
Subject Property
Buffalo Wild Wings
BUFFALO WILD WINGS
Russellville, AR
* 6.0% Cap
* Built 2014
* 20 year lease
Suggested Price:
Square Footage:
$4,533,000
5,000
BUFFALO WILD WINGS
3545 West Ridge Drive, Dickinson, ND
* 6.0% Cap
* Under Construction ( 2015 )
* Guarantee - Franchisee ( 3 Unit - Wings of Minot, LLC )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
896 Miles
10/1/2014
$5,000,000
8,143
BUFFALO WILD WINGS
2948 Allentown Road, Lima, OH
* 6.0 Cap
* Built in 2009
*20 yr lease - 20 yrs remain (10 Unit - Grube Enterprises)
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
809 Miles
2/17/2015
$4,880,000
$6,000
BUFFALO WILD WINGS
1086 Harter Parkway, Yuba City, CA
* 5.25% Cap
* Under Construction
* 15 yr lease - 15 yrs remain ( 23 Unit - World Wide Wings )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
1936 Miles
12/19/2014
$3,657,142
6,400
BUFFALO WILD WINGS
442 Fortman Drive, St. Mary's, OH
* 6.0% Cap
* Built in 2012
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
781 Miles
2/17/2015
$3,600,000
6,200
ON MARKET (cont.)
On Market Comp #8
On Market Comp #7
On Market Comp #6
On Market Comp #5
Subject Property
Buffalo Wild Wings
BUFFALO WILD WINGS
Russellville, AR
* 6.0% Cap
* Built 2014
* 20 year lease
Suggested Price:
Square Footage:
$4,533,000
5,000
BUFFALO WILD WINGS
747 N. Main Street, Roswell, NM
* 6.25% Cap
* Built in 2015
* 15 yr - 15 yrs remain ( 35 unit - Food Management Partners )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
732 Miles
12/8/2014
$3,360,000
6,187
BUFFALO WILD WINGS
570 S. Hermitage Road, Hermitage, PA
* 6.25% Cap
* Built in 2014
* 10 yr - 9 yrs remain ( Corp Guarantee - Blazin Wings, LLC )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
979 Miles
8/1/2014
$2,125,000
4,999
BUFFALO WILD WINGS
214 Cross Road Drive, Mt. Hope, WV
* 6.0% Cap
* Built in 2013
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
851 Miles
2/17/2015
$3,300,000
6,841
BUFFALO WILD WINGS
900 State Road 436, Casselberry, FL
* 6.0% Cap
* Built in 2008
* 15 yr - 9 yrs remain ( Corp Guarantee - Blazin Wings, LLC )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
1,004 Miles
10/24/2014
$2,292,300
8,100
ON MARKET (cont.)
On Market Comp #12
On Market Comp #11
On Market Comp #10
On Market Comp #9
Subject Property
Buffalo Wild Wings
BUFFALO WILD WINGS
Russellville, AR
* 6.0% Cap
* Built 2014
* 20 year lease
Suggested Price:
Square Footage:
$4,533,000
5,000
BUFFALO WILD WINGS
205 Highway 92, Sierra Vista, AZ
* 6.15% Cap
* Built in 2010
* 10 yr leasse - 10 yrs remain ( Corp Guarantee )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
1,198 Miles
11/11/2014
$3,102,000
$6,121
BUFFALO WILD WINGS
1901 Main Street SW, Los Lunas, NM
* 6.25% Cap
* Built in 2015
* 15 yr - 15 yrs remain ( 35 unit - Food Management Partners )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
828 Miles
12/10/2014
$3,360,000
6,383
BUFFALO WILD WINGS
1801 Pierce Avenue, Carlsbad, NM
* 6.30% Cap
* Built in 2015
* 15 yr - 15 yrs remain ( 36 unit - Franchisee )
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
785 Miles
1/27/2015
$3,335,000
6,083
BUFFALO WILD WINGS
70 Nitro Marketplace Boulevard, Cross Lanes, WV
*6.0% Cap
* Built in 2011
Dist. From Subject:
On Market:
On Market Price:
Square Footage:
789 Miles
2/17/2015
$3,800,000
6,249
MAP OF ON MARKET COMPARABLES
Buffalo Wild Wings
A
BUFFALO WILD WINGS
2212 East Parkway, Russellville, AR
C
( Subject )
B
BUFFALO WILD WINGS
3545 West Ridge Drive, Dickinson, ND
BUFFALO WILD WINGS
2948 Allentown Road, Lima, OH
D
BUFFALO WILD WINGS
442 Fortman Drive, St. Mary's, OH
E
BUFFALO WILD WINGS
747 N. Main Street, Roswell, NM
F
BUFFALO WILD WINGS
G
BUFFALO WILD WINGS
H
BUFFALO WILD WINGS
214 Cross Road Drive, Mt. Hope, WV
I
BUFFALO WILD WINGS
900 State Road 436, Casselberry, FL
J
BUFFALO WILD WINGS
205 Highway 92, Sierra Vista, AZ
K
BUFFALO WILD WINGS
1901 Main Street SW, Los Lunas, NM
L
BUFFALO WILD WINGS
1801 Pierce Avenue, Carlsbad, NM
M
BUFFALO WILD WINGS
70 Nitro Marketplace Boulevard, Cross Lanes, WV
B
G
C
D
E
M
H
A
K
F
J
L
I
(615) 309-6100
www.marketstreetretail.com

buffalo wild wings - Market Street Retail Advisors

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