Casa Ole Mexican Restaurants Corporate Gauranty

Transcription

1 Casa Ole Mexican Restaurants Corporate Gauranty 915 Hwy 96 South Silsbee (Beaumont Port Arthur MSA), TX Phone: Fax: Price: $1,715,940 NOI: $141,565 CAP: 8.25% Absolute triple net lease with 11 years remaining Annual rent escalations Corporate - Publicly traded tenant (CASA) with 73 locations No state income tax Area retailers include Walgreens, CVS, McDonalds, Sonic, KFC / Taco Bell, Aaron s, Whataburger, Pizza Hut, Jack In The Box, Eckerd s, Subway, among others First Casa Ole was started in % to buyer s broker

2 Property Investment Line Overview Map PROPERTY OVERVIEW: EXP Realty Advisors exclusively presents for sale this triple net leased corporate Casa Ole restaurant, which is 3,941 square feet, on.93 acres of land in Silsbee, TX. The property is located on Highway 96 South, which receives over 17,000 vehicles per day. Area retailers include Walgreens, CVS, McDonalds, Sonic, KFC / Taco Bell, Aaron s, Jack In The Box, Whataburger, Pizza Hut, Eckerd s and Subway Sandwiches among others. This location benefits from the strong domestic demand for oil and gas (the major industry in Silsbee/Beaumont). There is approximately 11 years of remaining lease term on the corporate triple net lease, which has 1.5% annual escalations. Tenant has an excellent payment history. Casa Ole sells alcoholic beverages. LOCATION OVERVIEW: Silsbee is in Hardin County, Texas, United States. It is located at the intersection of U.S. Highway 96 and State Highway 327. Traffic counts on these highways are 18,801 & 11,249 respectively. Silsbee is approximately 80 miles east of Houston and 16 miles north of Beaumont. The area is also known as the Golden Triangle. The "golden" refers to the wealth that came from the Spindletop oil strike near Beaumont in 1901, and "triangle" refers to the area among the cities of Beaumont, Port Arthur, and Orange. According to the census, it has a population of 378,477. The area is one of the largest oil production and refinery regions in the United States. Chevron, Gulf Oil, Humble Oil and Exxon Mobil have major investments in the area. INVESTMENT SUMMARY Price: $1,715,940 CAP Rate: 8.25% NNN Rent: $141,565 Escalations: 1.5% per year Bld. Sq Ft: 3,941 sf Land Size:.93 acres Silsbee, the principal commercial center of Hardin County, is located at the edge of the Piney Woods region about fifteen miles northeast of the Port of Beaumont on the Texas Gulf coast and is within easy driving distance to the Houston metropolitan area. LEASE SUMMARY: Rent Commencement: 1/7/2004 Lease Expiration: 1/31/2024 Current Rent: $141,565 Escalations: 1.5% annual escalations Options: 2 (10 yr) options Options Escalations: 1.5% annual escalations Lease Type: Absolute triple net: Zero landlord responsibilities TENANT OVERVIEW: Mexican Restaurants, Inc. (OTC: CASA) : Mexican Restaurants, Inc. is a Houston, Texas-based restaurant company and the tenant on the lease. It is publicly traded. It currently has 54 company operated locations, 17 franchised and two licensed. The company operates five different concepts: Casa Ole, Mission Burrito, Monterey's Little Mexico, Tortuga Mexican Kitchen and Crazy Jose's. Sales for the first half of 2012 were $35 million. Mexican Restaurants, Inc has experienced very steady and controlled growth with strong and stable management. The first restaurant was started in 1973 by Larry Forehand, who currently serves as Vice Chairman. The CFO and CEO have also served for many years. The company continues to operate with very little debt, and is profitable. Detailed financial statements are available at Lease Type: Absolute Triple Net INVESTMENT OVERVIEW

3 Property Line Photographs Map PROPERTY PHOTOGRAPHS

4 Property Aerial Photograph Line Map Donut Palace Food Mart First Assembly of God AERIAL PHOTOGRAPH

5 Property Location Line Map Map LOCATION MAP

6 Property Demographic Line Data Map Radius 3 Mile 5 Mile 10 Mile Population: 2016 Projection 8,609 19,076 45, Estimate 8,395 18,424 43, Census 8,464 18,408 42,951 Growth % 3.50% 4.70% Growth % 0.10% 0.80% 2011 Population By Hispanic Origin , Population by Race: White 5,855 15,362 38,649 Black or African American 2,177 2,375 3,054 American Indian and Alaska Native Asian Native Hawaiian and Pacific Islander Other Race Two or More Races Households: 2016 Projection 3,339 7,272 16, Estimate 3,245 6,998 16, Census 3,273 6,994 16,058 Growth % 3.90% 5.00% Growth % 0.10% 0.80% Owner Occupied 2,233 5,414 12,601 Renter Occupied 1,011 1,584 3, Avg Household Income $52,262 $52,999 $53, Med Household Income $38,577 $40,248 $41, Per Capita Income $21,090 $20,527 $20, Households by Household Inc: Income Less than $15, ,324 2,717 Income $15,000 - $24, ,985 Income $25,000 - $34, ,117 Income $35,000 - $49, ,044 2,568 Income $50,000 - $74, ,306 3,004 Income $75,000 - $99, ,770 Income $100,000 - $149, ,608 Income $150,000 - $199, Income $200, Contact Us EXP Realty Advisors 118 East 28 th Street Suite #901 New York, NY Phone: (212) Fax: (212) Our Team Robert P. James President Phone: (212) rob@exp1031.com Daniel de Sa Director of Sales Phone: (212) dan@exp1031.com DEMOGRAPHIC DATA