OFFERING MEMORANDUM Absolute NNN Ground Lease Investment Opportunity 9211 U.S. Highway 19 Port Richey, FL. Actual Property Image

Transcription

1 OFFERING MEMORANDUM Absolute NNN Ground Lease Investment Opportunity 9211 U.S. Highway 19 Port Richey, FL Actual Property Image

2 Exclusively Marketed By: Sands Investment Group 9211 U.S. Highway 19 Port Richey, FL Dan Hoogesteger Lic DIRECT Chris Sands Lic DIRECT Sands Investment Group 2701 Ocean Park Boulevard, Suite 140 Santa Monica, CA SIG.NNN INVESTMENT SUMMARY AREA OVERVIEW TENANT LEASE ABSTRACT Investment Summary Investment Highlights Location & Area Map Retail Map City Overview Tenant Profile Lease Summary Rent Roll In Cooperation with: JDS Real Estate Services, Inc. Lic. # CQ BOR Jeffery Ashby Lic. # BK Sands Investment Group (SIG). The information contained in this Offering Memorandum, has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it s accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.

3 INVESTMENT SUMMARY OFFERING SUMMARY PRICE $1,520,000 CAP 5.35% NOI $81,338 YEARS REMAINING LEASE GUARANTEE 10 Years Corporate PROPERTY SUMMARY ADDRESS 9211 U.S. Highway 19 Port Richey, FL COUNTY BUILDING AREA LAND AREA Pasco 3,183 SF 37,179 SF BUILT 1999 Actual Property Image

4 INVESTMENT HIGHLIGHTS HIGHLIGHTS Coastal Florida Location on Prime Retail Arterial Corporate Guarantee - Taco Bell of America, LLC Absolute Triple Net (NNN) Ground Lease - No Landlord Responsibility Operated by Multi-Unit Franchisee with Over 25 Locations Upside Potential Short Term Billboard Lease with Below Market Rent Outparcel to Gulf View Square Mall With Over 100 Retailers and is Anchored by Best Buy, Dillard s, ULTA Beauty, Sears and TJ Maxx Strong Retail Corridor: Nearby Retailers Include Toys R Us, hhgregg, Burlington Coat Factory, Ross, Bed Bath & Beyond, Walmart Supercenter and Much More Over 125,000 People Within a 5 Mile Radius Actual Property Image

5 LOCATION MAP

6 AERIAL MAP U.S. Highway 19

7 RETAIL MAP Embassy Blvd. ay 19 US Highw Ultimate Auto Repair & Performance Center Holiday Hills Blvd.

8 RETAIL MAP Salt Springs Rd Holiday Hills Blvd.

9 AREA OVERVIEW Street/Cross Road Average Vehicles Per Day U.S. Hwy 19 66,873 SUBJECT PROPERTY DEMOGRAPHICS 1 Mile 3 Mile 5 Mile Population 9,114 61, ,673 Actual Property Image Average Household Income $40,161 $42,318 $46,870

10 AREA OVERVIEW City Overview Port Richey is a city in Pasco County, Florida, United States. It is a suburban city included in the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area. The population was 2,699 at the 2015 census. Pasco County is a county located in the U.S. state of Florida. As of the 2015 census, the population was 497,909. Its county seat is Dade City, and its largest city is New Port Richey. The county is named for Samuel Pasco. Tampa St.Pete Clearwater Metropolitan Statistical Area (MSA) defined by the United States Census Bureau is Hernando, Hillsborough, Pasco, and Pinellas counties. The population of the Tampa Bay Area is estimated at 2,975,225 people as of Today, Port Richey remains internally much as it has always been. With an almost explosive growth taking place over the entire surrounding area, it remains a picturesque port for commercial fisherman teeming with serenity and charm. Typical of the traditional values that still hold sway in this unique town is the pride its citizens take in living in a debt free city.

11 TENANT PROFILE COMPANY PROFILES COMPANY Taco Bell FOUNDED 1954 # OF LOCATIONS 6,500 REVENUE VOLUME 2015 $1.988 Billion HEADQUARTERS Irvine, CA COMPANY Pizza Hut FOUNDED 1958 # OF LOCATIONS 16,000+ REVENUE VOLUME 2015 $1.145 Billion HEADQUARTERS Plano, TX PARENT COMPANY Yum! Brands PUBLIC COMPANY NYSE: YUM FOUNDED 1997 SALES VOLUME $13.1 Billion NET WORTH $33.1 Billion HEADQUARTERS Louisville, KY WEBSITE Taco Bell is the nation s leading Mexican-inspired quick service restaurant (QSR) brand. We serve made-to-order and customizable tacos and burritos, among other craveable choices, and are the first QSR restaurant to offer American Vegetarian Association (AVA)-certified menu items. Taco Bell and our more than 350 franchise organizations operate nearly 6,500 restaurants across the United States that proudly serve about 40 million customers every week. Pizza Hut is an American restaurant chain and international franchise, known for its Italian-American cuisine menu including pizza and pasta, as well as side dishes and desserts. The company has over 16,000 restaurants in more than 100 countries and is a subsidiary of Yum! Brands, Inc. Yum! Brands, Inc., based in Louisville, Kentucky, has nearly 43,000 restaurants in 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company s restaurant brands KFC, Pizza Hut and Taco Bell are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development. Since their spin-off from PepsiCo in 1997, Yum! Brands has become a truly global company going from approximately 20 percent of profits coming from outside the U.S. to almost 65 percent in They re proud to be the worldwide leader in emerging markets with nearly 17,000 restaurants, nearly twice as many as the nearest competition. With about 2.5 restaurants per million people in the top 10 emerging markets, compared to 57 restaurants per million in the U.S., they are on the ground floor of global growth. Their mission is to build the world s most loved, trusted and fastest growing restaurant brands. They are evolving KFC, Pizza Hut and Taco Bell into iconic, distinctive and relevant global brands. Importantly, they re extremely proud of their 1.5 million employees around the globe and the unique culture they ve built, one that s filled with energy, opportunity, and fun. They believe in their people, trust in their positive intentions, encourage ideas from everyone, and have actively developed a workforce that is diverse in style and background. Yum! Brands is great place to be yourself, grow and make a difference.

12 LEASE ABSTRACT LEASE SUMMARY: Taco Bell / Pizza Hut TENANT BDE Florida, LLC LEASE GUARANTEE PREMISES Taco Bell of America, LLC A Building of Approximately 3,183 SF in Port Richey, FL. APN: LEASE COMMENCEMENT 7/17/1996 LEASE EXPIRATION 12/31/2026 Actual Property Image LEASE TERM RENEWAL OPTIONS RENT INCREASES LEASE TYPE USE PROPERTY TAXES INSURANCE COMMON AREA ROOF & STRUCTURE REPAIRS & MAINTENANCE HVAC UTILITIES RIGHT OF FIRST REFUSAL 10 Years Remaining 2 x 5 Years 10% at Options Absolute Triple Net (NNN) Ground Lease QSR Tenant s Responsibility Tenant s Responsibility Tenant s Responsibility Tenant s Responsibility Tenant s Responsibility Tenant s Responsibility Tenant s Responsibility Yes

13 LEASE ABSTRACT LEASE SUMMARY: Billboard TENANT CBS Outdoor, Inc. LEASE COMMENCEMENT 1/1/1997 LEASE EXPIRATION 12/31/2022 LEASE TERM 6 Years Remaining RENEWAL OPTIONS None RENT INCREASES None USE Signage REPAIRS & MAINTENANCE Tenant s Responsibility *In the event twenty-five (25%) percent of the net income earned by LESSEE for use of the sign(s) located on the structure for any 12-month period beginning January 1 st and ending December 31 st exceeds the Fixed Rental for such period, LESSEE shall pay to LESSOR the difference between such amounts 2 months following the end of the 12-month period beginning on the commencement date. Actual Property Image

14 RENT ROLL Actual Property Image SIZE ANNUAL RENT LEASE TERM TENANT NAME SQUARE FOOTAGE % OF TOTAL ANNUAL BASE RENT RENT / SF % OF TOTAL INCREASE DATES RENTAL INCREASE LEASE BEGIN LEASE END OPTIONS BDE Florida, LLC (Guarantee: Taco Bell of America, LLC) 3,183 SF 100% $79,188 $ % At Options 10% 7/17/ /31/ x 5 Years CBS Outdoor, Inc. (Billboard) N/A N/A $2,150 $3.20 N/A None None 1/1/ /31/2022 None Total/Avg. 3,183 SF 100% $81,338 $ %

15 CONFIDENTIALITY AGREEEMENT The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group. This Offering Memorandum 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, and makes 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 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 Offering Memorandum has been obtained from sources we believe to be reliable; however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group 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. By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting this Memorandum you agree to release Sands Investment Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.

16 Actual Property Image Exclusively Marketed By: In Cooperation with: JDS Real Estate Services, Inc. Lic. # CQ BOR Jeffery Ashby Lic. # BK Dan Hoogester Lic DIRECT dan@signnn.com Chris Sands Lic DIRECT chris@signnn.com SIG.NNN F: OCEAN PARK BLVD, SUITE 140 SANTA MONICA, CA 90405