GOLDEN CORRAL East Freeway Houston, TX 77015

Transcription

1 Subject property GOLDEN CORRAL East Freeway Houston, TX Price: $3,957,667 l NOI: $296,825 CAP: 7.5% Phone: Fax: exp@exp1031.com Corporate Golden Corral Sale Leaseback New 15 Year Triple-Net (NNN) Lease with 5% Escalations Every Five Years 165,532 Population in Five Miles 5.3 Million in the Houston MSA New Construction and Larger Pavilion Concept with Higher End Endless Buffet Adjacent to Wal-Mart Supercenter with Cross Parking Access on I-10 Frontage Road Excellent 1031 Exchange Property Frontage Rd to I-10 which has 151,000 VPD

2 Property Investment Line Overview Map PROPERTY OVERVIEW: EXP Realty Advisors exclusively offers for sale a newly constructed Golden Corral located in Houston, TX at East Freeway. The subject property consists of a 14,155 sq. ft., single-tenant restaurant on 3.2 acres of land. The Pavilion concept is a new prototype Golden Corral is rolling out as part of its growth and expansion plan. Pavilion Golden Corral s are 20% larger and offer a higher end buffet. Golden Corral Corporation will enter into a new 15 year triple net lease with 5% escalations every 5 years. Golden Corral is the leading buffet restaurant chain in the country with over 480 restaurants in 41 states. System wide annual sales exceed $1.5 billion with average unit volume of approximately $6,000,000 in the Pavilion concept (this may not be representative of this location). LOCATION OVERVIEW: The property is located on the frontage road to I-10 which has traffic of 151,000 vehicles per day. The restaurant is located within a dense retail environment immediately adjacent to a Wal-Mart Supercenter and in close proximity to Sam s Club and Home Depot. Houston is the fourth-largest city in the United States of America, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of 579 square miles (1,500 km 2 ). Houston is the seat of Harris County and the economic center of Houston Sugar Land Baytown, which is the sixthlargest metropolitan area in the U.S. of over 5 million people. Rated as a global city, Houston's economy has a broad industrial base in energy, manufacturing, aeronautics, and transportation. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts. INVESTMENT SUMMARY Price: $3,957,667 CAP Rate: 7.5% NNN Rent: $296,825 Bld. Sq Ft: 14,155 sf Land Size: 3.2 ac Lease Type: Triple Net Lease Projected R/S: 4.7% LEASE SUMMARY: Triple Net Rent: $296,825 Rent Commencement: Upon close of escrow Expiration Date: 15 years from close of escrow Escalations: 5% every 5 years during the base term and options Options: Five (5) year options Lease Type: Absolute Triple Net TENANT OVERVIEW: Golden Corral Corp. (Private) Golden Corral is an family-style restaurant chain that features a large buffet and grill offering numerous hot and cold items, a carving station and their Brass Bell Bakery. Golden Corral's legendary, endless buffet features an abundant variety of delicious familiar favorites and continuous new menu offerings for breakfast, lunch and dinner. Golden Corral s vision is to be the leader in the family restaurant segment by making pleasurable dining affordable for every guest, at all 480 locations. It is a privately held company headquartered in Raleigh, North Carolina. System wide sales exceed $1.5 billion. INVESTMENT OVERVIEW

3 Area Property History Line Photographs Map SUBJECT PROPERTY SUBJECT PROPERTY ADJACENT TO SUBJECT PROPERTY Entrance From Wal-Mart Parking Lot PROPERTY PHOTOGRAPHS

4 Area Property Labeled History Aerial Line Map LABELED AERIAL

5 Area Property Labeled History Aerial Line Map 151,000 VPD LABELED AERIAL

6 Area Property Floor History PlanLine Map FLOOR PLAN

7 Property Location Line Map Map LOCATION MAP

8 Property Location Line Map Map Radius 3 Mile 5 Mile 10 Mile Population: 75, , , Avg Household Income $61,673 $57,419 $54, Med Household Income $54,132 $51,396 $45,744 LOCATION MAP

9 Property Line Map Contact Us EXP Realty Advisors 118 East 28 th Street Suite #808 New York, NY Phone: (212) Fax: (212) Our Team Robert P. James President Phone: (212) Daniel de Sa Director of Sales Phone: (212)