Yamato (Pizza Hut Sub Lease)

Transcription

1 Yamato (Pizza Hut Sub Lease) 1084 Market St Charlestown, IN OFFERING MEMORANDUM Charlestown, IN 1

2 EXCLUSIVELY LISTED BY: Kyle Matthews Broker of Record Lic # RC Simon Assaf Associate Simon.Assaf@matthews.com DIR (949) MOB (909) LIC # (CA) Aron Cline SVP & Sr. Director Aron.Cline@matthews.com DIR (949) MOB (818) LIC # (CA) INVESTMENT HIGHLIGHTS Great Return on Investment - 10% cap rate with 9 years remaining on the base term of the lease Absolute NNN - Zero landlord responsibilities Hedge against Inflation - 5% increase remaining in the base term of the lease Strong Guarantee - 2JR Pizza Enterprises operates 30 locations in KY, IN, IA, and IL Location Highlights Great Retail Corridor - Surrounded by national tenants and located down the street from Charlestown High School Growing Population % growth in a 5-mile radius over the next 5 years

3 Financial Overview Yamato (Pizza Hut Sub Lease) 1084 Market St Charlestown, IN Annualized Operating Data Monthly Rent Annual Rent Rent/SF Cap Rate Current - 9/30/2021 $2, $34, $ % 10/1/2021-9/30/2026 $3, $38, $ % Option 1: 10/1/2026-9/30/2031 $3, $43, $ % Tenant Summary Tenant Trade Name Yamato (Pizza Hut Sub Lease) Type of Ownership Fee Simple Lease Guarantor Corporate Lease Type NNN Roof and Structure Tenant Responsible Original Lease Term 25 Years Rent Commencement Date 10/1/2016 Lease Expiration Date 9/30/2026 Term Remaining on Lease ± 9 Years Increases 12% Increase on 10/1/2021 Options One, 5-Year Options List Price $350,000 Cap Rate 10.00% GLA ± 1,790 SF Lot Size ± 0.78 Acres 3 Offering Memorandum Charlestown, IN 3

4 The Offering Parcel Map Number of Stories One Lot Size ± 0.78 Acres (33,977 SF) Assessor s Parcel Number / GLA ± 1,790 SF 4 Offering Memorandum

5 Regional Map Charlestown, IN 5

6 Area Overview Charlestown, IN Charlestown is a located in southern Indiana, across the Ohio River from Louisville, KY. The area is known for its amazing residential area and has a family-friendly view on everything the community creates and develops. Being in close proximity to the Ohio River, there are many different outdoor activities available in Charlestown. The community is well-known for their park and recreational facilities. Greenway Park holds many different events and activities throughout the year, while also providing easy trails that allow visitors to explore the natural side of Charlestown. Demographics The city is also regionally known for their Christmas celebration. Charlestown is the most visited area in southern Indiana during Novermber and December. There are Carriage Rides, a Christmas parade, and one-of-a-kind lights that light up the whole town. Demographics Population 1 Mile 3 Mile 5 Mile 2022 Projection 5,745 10,788 18, Estimate 5,513 10,246 17, Census 5,158 9,367 15, Census 4,975 8,361 13,036 6 Offering Memorandum Growth % 5.29% 5.93% Households 1 Mile 3 Mile 5 Mile 2022 Projection 2,252 4,114 6, Estimate 2,152 3,902 6,404 Growth % 5.43% 5.93% Income 1 Mile 3 Mile 5 Mile 2017 Est. Average Household Income $67,266 $70,668 $81,342

7 Louisville, KY As the largest city in the Commonwealth of Kentucky and the 30th-most populous city in the United States, Louisville is sited beside the Falls of the Ohio, the only major obstruction to river traffic between the upper Ohio River and the Gulf of Mexico. Designated as a first-class city, Louisville has a prosperous river-town character with a distinct Southern accent. The city is known as the home of the Kentucky Derby, Kentucky Fried Chicken, the University of Louisville and its Louisville Cardinals athletic teams, Louisville Slugger baseball bats, and three of Kentucky s six Fortune 500 companies. Its main airport is also the site of United Parcel Service s worldwide air hub. Louisville s importance to the shipping industry continues today with the presence of the Worldport global air-freight hub for UPS at Louisville International Airport. Louisville s location at the crossroads of three major interstate highways also contributes to its modern-day strategic importance to the shipping and cargo industry. As of 2003, Louisville ranks as the seventhlargest inland port in the United States. Top 10 City for Jobs Top 10 city for homeownership Top 14 places to visit in 2016 Charlestown, IN 7

8 Economy Louisville is home to dozens of companies and organizations across several industrial classifications. Its strategic location at the Falls of the Ohio, and its unique position in the central United States make it a practical location for the transfer of cargo along its route to other destinations. Louisville offers a high value proposition and allows businesses to succeed in a vibrant city. Louisville is a competitive, authentic, global city, home to UPS Worldport and a center for advanced manufacturing and logistics. Since 2014, Louisville has seen more than $8 billion in investments. Top County Employers Employer United Parcel Service Ford Motor Co. Norton Healthcare Humana Inc. Jewish Hospital Healthcare GE Consumer & Industrial Kroger Co. 8 Offering Memorandum

9 Points of Interest Kentucky Derby The Kentucky Derby takes place on the first Saturday in May every year, and typically draws a crowd of 155,000 people. It is the longest continually held sporting event in America, and it is one of the most prestigious horse races in the world. Falls of Ohio The 390-million-year-old fossil beds are among the largest, naturally exposed, Devonian fossil beds in the world. The Falls was originally a series of rapids allowing the Ohio River to drop 26 feet over a distance of two and a half miles. This was the only navigational hazard over the 981 mile-length river formed by rock outcrops. Today much of the original falls have been flooded behind the McAlpine dam. University of Louisville The University of Louisville is a public university located just 5 miles from the subject property, University of Louisville has a total enrollment of 22,640 students and a total staff of 7,000. The university has three campuses in the Louisville area, the Bellknap, the Health Science, and the Shelby. Louisville Cardinals University of Louisville is known for its Louisville Cardinals athletics, several of which are among the most successful in the country. Since 2005, the Cardinals have made appearances in the NCAA Division 1 men s basketball Final Four in 2005, 2012, and Offering Memorandum Charlestown, IN 9

10 CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Yamato (Pizza Hut Sub Lease) located at 1084 Market St, Charlestown, IN ( Property ). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1. The Offering Memorandum and its contents are confidential; 2. You will hold it and treat it in the strictest of confidence; and 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

11 EXCLUSIVELY LISTED BY Simon Assaf Associate DIR (949) MOB (909) LIC # (CA) Aron Cline SVP & Sr. Director Aron.Cline@matthews.com DIR (949) MOB (818) LIC # (CA) Kyle Matthews Broker of Record Lic # RC Yamato (Pizza Hut Sub Lease) 1084 Market St Charlestown, IN Charlestown, IN 11