nnn investment opportunity
Transcription
nnn investment opportunity
NNN INVESTMENT OPPORTUNITY WENDY’S - TALLAHASSEE, FLORIDA NIKO MICIN [email protected] (206) 210-5208 David Perry: Terra Realty Group, FL Broker of Record Image for illustrative purposes only 01 NNN LEASE OFFERING MEMORANDUM AGM, Inc. hereby advises all prospective purchases of net leased property as follows: This confidential offering memorandum has been prepared by AGM, Inc. for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. No representation is made by AGM, Inc. or the property owner as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, AGM, Inc., owner and their employees and agents disclaim any responsibility for inaccuracies and expect prospective purchaser to exercise independent due diligence in verifying all such information. Further, AGM, Inc., owner and their employees and agents disclaim any and all liability for representations and warranties, expressed and implied, contained in, or for omissions from, the confidential offering memorandum or any other written or oral communication transmitted or made available to recipient. This confidential offering memorandum may include certain statements and estimates by AGM, Inc. with respect to the projected future performance of the property; these assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. The confidential offering memorandum does not constitute a representation that there has been no change in the business or affairs of the property or owner since the date of preparation of the confidential offering memorandum. Analysis and verification of the information contained in the confidential offering memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the property will be made available upon request to interested and qualified prospective investors or purchasers. Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers regarding the property and/or terminate discussion with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing the confidential offering memorandum or making an offer to purchase the property unless and until such offer is approved by owner, a written agreement for the purchase of the property has been fully executed, delivered and approved by owner and its legal counsel, and any conditions to owner’s obligation thereunder have been satisfied or waived. This confidential offering memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. This information should not, under any circumstances, be photo copied or disclosed to any third party without the written consent of AGM, Inc. or owner, or used for any other purpose whatsoever other than to evaluate the possible purchase of the property. By accepting the confidential offering memorandum, you agree that you will not use the confidential offering memorandum or any of the contents in any fashion or manner detrimental to the interest of owner or AGM, Inc. BY ACCEPTING THIS CONFIDENTIAL OFFERING MEMORANDUM, YOU AGREE TO RELEASE AGM, INC. AND HOLD IT HARMLESS FROM ANY KIND OF CLAIM, COST, EXPENSE, OR LIABILITY ARISING OUT OF YOUR INVESTIGATION AND/OR PURCHASE OF THIS NET LEASED PROPERTY. WENDY’S 1494 CAPITAL CIRCLE NORTHWEST TALLAHASSEE, FL Sale Price: $2,950,000 Cap Rate: 5.10% Lease Type: NNN Lease Term: 16.5+ years remaining Options: Four 5-year options Rent Escalations: 6% every 5 years NOI: $150,426 NOI 8/1/2018: $159,451 Lease Expiration: July 31, 2033 Property Type: Single tenant, hard corner location Type of Ownership: Fee Simple Lot Size: 0.80 Acres Building Size: 3,066 SF Year Built: 2006 Construction: Masonry 02 OVERVIEW - 16.5 years remaining on a brand new 20-Year NNN Lease Agreement - Experienced Franchisee operating 170+ restaurants nationwide - Approximately 50 unites in the LLC - 6% Rental increases every five years - Store sales in excess of $1,800,000 - Strong retail trade area include Home Depot, Lowe’s, Subway, Sonic, McDonalds, Office Depot, Taco Bell, KFC, Applebees, Harveys, Steak n’ Shake, and Walmart - Location also near the auto mall with distributors that include Volvo, Acura, Toyota, Chevrolet, Dodge, and several smaller vendors - Outpad to Home Depot shopping center - High traffic count-excess of 30,000 ADT - Zero landlord responsibilities 03 INVESTMENT HIGHLIGHTS 04 INVESTMENT SUMMARY PRICING Purchase Price $2,950,000 Cap Rate 5.10% NOI $150,426 NOI as of 8/1/2018 $159,451 LOAN INFORMATION Property will be delivered free and clear to buyer. PERIOD YEARS ANNUAL RENT MONTHLY RENT Current 1-5 $150,426 $12,536 6-10 $159,451 $13,288 11-15 $169,018 $14,085 16-20 $179,159 $14,930 Option 1 21-25 $189,909 $15,826 Option 2 26-30 $201,303 $16,775 Option 3 31-35 $213,382 $17,782 Option 4 36-40 $226,185 $18,849 Tallahassee, the capital of Florida, has a growing population of 186,411 and a metropolitan area population of 375,751. It is also one of the fastest growing cities in Florida with a 12.4 percent growth rate, higher than both Miami and Tampa. Tallahassee is the home of several colleges and universities, notably Florida State University and Florida A&M University. Tallahassee is a center for trade and agriculture in the Florida Panhandle and is served by Tallahassee Regional Airport. With one of the fastest growing manufacturing and high tech economies in Florida, its major private employers include a General Dynamics Land Systems manufacturing facility (military and combat applications) and the Municipal Code Corporation, which specializes in the publication of municipal and county legal references. The area is recognized as a regional center for scientific research, and is home to the National High Magnetic Field Laboratory, the largest and highest-powered in the world. 05 INVESTMENT OPPORTUNITY 06 AERIAL MAP 07 AERIAL MAP 08 LOCATION INFORMATION POPULATION 1 MILE 3 MILE 5 MILE 2012 2,656 41,444 105,718 2017 Projection 2,763 43,114 109,921 HOUSEHOLDS 1 MILE 3 MILE 5 MILE 2012 2017 Projection 1,067 1,120 17,325 18,186 42,006 44,091 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE 2012 Average $35,163 $40,256 $40,843 2012 Median $32,439 $30,314 $29,063 09 TALLAHASSEE, FLORIDA POPULATION In 2012, the population in Tallahassee was 105,718, an increase of 14.59% since 2000. It is estimated that the population will be 109,921 in 2017. The population is approximately 48.8% male and 51.1% female, with a median age of 25.2, compared to the U.S. average of 36.9. HOUSEHOLDS There are currently 42,000+ households in Tallahassee. This number of households has increased by 11.09% since 2000. It is estimated that the number of households will be 44,091 in 2017, which represents a change of 4.96%. The average household size is 2.27 persons. INCOME In 2012, the median household income for Tallahassee was $29,063 , compared to the U.S. average which is $53,620. The median household income for the area has changed by 18.46% since 2000. It is estimated that the median household income will be $31,637 in 2017, which represents a change of 8.85%. EMPLOYMENT In 2012, there were 49,429 employees in the area, this is also known as the daytime population. The 2000 Census revealed that 68.6% of employees were employed in white-collar occupations in this geography, and 31.3% were employed in blue-collar occupations. In 2012, unemployment in the area was 8.82% . In 2000, the median time traveled to work was 18.3 minutes. 10 TRAFFIC COUNTS
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