Representative Photo APPLEBEE S E. Oglethorpe Highway Hinesville, GA. 1 Applebee s - Hinesville OFFERING MEMORANDUM

Transcription

1 Representative Photo APPLEBEE S 1492 E. Oglethorpe Highway Hinesville, GA OFFERING MEMORANDUM 1 Applebee s - Hinesville

2 Representative Photo EXCLUSIVELY LISTED BY CALVIN SHORT SVP & SENIOR DIRECTOR DIR (949) MOB (310) LIC # (CA) CONNOR OLANDT ASSOCIATE connor.olandt@matthews.com DIR (949) MOB (818) LIC # (CA) KYLE MATTHEWS BROKER OF RECORD LIC # (GA)

3 table of contents 04 executive summary 06 financial overview 08 tenant overview 12 area overview 3 Applebee s - Hinesville Representative Photo

4 Representative Photo INVESTMENT HIGHLIGHTS Strong Historical Sales Store performs 18% above the Applebee s national store sales average Operated by the largest Applebee s franchisee Apple American Group has roughly 480 locations throughout the US Situated along highly trafficked Oglethorpe Hwy which sees over 30,000 cars per day Close Proximity to Fort Stewart 280,000 acre Army Base with 11,000 people living in the grounds Absolute NNN Lease Provides an investor passive income with zero landlord responsibilities High-Quality Brick Construction situated on a large 1.38-acre parcel The site strategically sits as an outparcel to a Marriott Inn and Holiday Inn Directly across the street from Mike Reed Chevrolet one of Hinesville s largest auto dealers 10% rent increase in Offering Memorandum

5 Representative Photo 5 Applebee s - Hinesville

6 financial overview Representative Photo 6 Offering Memorandum

7 Applebee's 1492 E. Oglethorpe Highway Hinesville, GA List Price...$3,767,040 CAP Rate % Gross Leasable Area...± 6,250 SF Lot Size... ± 1.38 Acres Year Built ANNUALIZED OPERATING DATA Monthly Rent Annual Rent Current 12/31/2021 $20, $244, /1/ /31/2026 $22, $269, TENANT SUMMARY Tenant Applebee s Type of Ownership Fee Simple Lease Guarantor Apple American Group, II LLC Lease Type NNN Original Lease Term 20 years Lease Commencement 1/1/2006 Lease Expiration Date 12/31/2026 Term Remaining ± 9 years Increases 10% increases every 5 Years 7 Applebee s - Hinesville

8 tenant overview Representative Photo 8 Offering Memorandum

9 APPLEBEE S OVERVIEW APPLE AMERICAN Apple American s restaurants are found from coast to coast with large concentrations in the Midwest (Ohio, Indiana, Pennsylvania) and on the West Coast (California, Washington). Their primary focus is to be an industry leading restaurant operator that delivers superior results while continuing to pursue opportunities to build new units. They have built more than 100 restaurants within the last ten years. Tenant Applebee's Neighborhood Grill and Bar Parent Company Trade Name Flynn Restaurant Group LP Ownership Private Annual Sales $1.1B Number of Employees 5,500 Year Founded 1993 Website APPLEBEE S Applebee s International, Inc., is an American company which develops, franchises, and operates the Applebee s Neighborhood Grill and Bar restaurant chain. The company is headquartered in Kansas City, Missouri, after moving from Lenexa, Kansas, in September Applebee s started with the same philosophy they follow today focused on serving good food to good people. Today, what was once a popular neighborhood restaurant has grown to become a popular restaurant in neighborhoods all across North America with almost 2,000 locations and counting. 9 Applebee s - Hinesville

10 the offering Property Name Property Address Applebee's 1492 E. Oglethorpe Highway, Hinesville, GA Assessor s Parcel Number 069D 008 parcel map Oceanside Blvd ± 31,792 Site Description Number of Stories One Year Built 2006 Gross Leasable Area (GLA) ± 6,250 SF Lot Size ± 1.38 Acres (60,113 SF) Type of Ownership NNN Topography Generally Level Landscaping Professional Oglethorpe Highway ±30,000 ADT College Blvd ± 40, Offering Memorandum

11 US Army-Fort Stewart TENANT MAP 11 Applebee s - Hinesville, GA

12 area overview Hinesville, GA Hinesville is a city in Liberty County, Georgia. The city is the county seat of Liberty County and makes up the Hinesville-Fort Stewart Metropolitan Statistical Area. Because of Hinesville s proximity to Fort Stewart, Hinesville is a military town that is greatly supported by the fort. Savannah, GA is 40 miles northeast of Hinesville and the coastal area can be found 30 miles east of the city. The cost of living in Hinesville is 17% lower than the national average. Liberty County Liberty County has biking, kayaking, camping, fishing, hunting, birding, geocaching, and is home to some of today s rising musical and artistic talents. Located in Fort Stewart is the 3rd Infantry Division, the largest Army installation east of the Mississippi River. Liberty County, Georgia has a rich history and is home to many attractions in which visitors can take advantage. Explore Fort Morris State Park, the Midway Museum, or The Liberty Trail. Liberty County is also a mecca for manufacturers and businesses, connected to the globe by a network of interstates, rails, air and sea ports. Liberty County is a fascinating portrait of the old South and the new, of comforting tradition and of well-planned cutting-edge progress. demographics POPULATION 3 Mile 5 Mile 10 Mile 2023 Projection 15,748 39,235 63, Estimate 15,732 39,019 63, Census 15,979 39,155 62,804 HOUSEHOLDS 3 Mile 5 Mile 10 Mile 2023 Projection 5,951 13,587 22, Estimate 5,885 13,425 22, Census 5,792 13,249 21,619 INCOME 3 Mile 5 Mile 10 Mile 2018 Est. Average Household Income $52,936 $50,732 $52, Offering Memorandum

13 fort stewart Less than 4 miles from the subject property is home to the United States Army post, Fort Stewart. Together, the city of Hinesville and Fort Stewart make up the Hinesville-Fort Stewart metropolitan statistical area which compromises all of Liberty County. The 280,000 acre base is the largest Army installation east of the Mississippi River. Fort Stewart is one of the Army s premier installations and has earned the Army Community of Excellence Award six times. The base provides housing for soldiers and their families along with child care services for children six weeks old to kindergarten with options for full day care or hourly care. Winn Army Community Hospital is located on Fort Steward which provides medical care for active-duty Solddiers, retired military personnel, and all eligible family members with services ranging from pediatrics to behavioral medicine services. 280,000 Acres 50,000 4 Miles Size of Fort Stewart Soldiers and Family Members Distance from Subject Property 13 Applebee s - Hinesville

14 Savannah, GA Savannah is a historic and sophisticated city on a coastal plain in Georgia, a few miles inland from the Atlantic, that is known for its Southern charm and coastal lifestyle. Its well-preserved Historic District is the core of the city, abuzz with creativity, art, culture and live theatre. Integrated with innovative urban design in a pedestrian-friendly layout, Savannah s park-like Historic District tells the story of the city s past with an added modern punch of high-style boutiques, galleries, and restaurants. With a myriad of activities for recreation and its lively atmosphere, Savannah attracts over 13.4 million annual visitors. It is a Southern escape that can be enjoyed any time of year, beguiling visitors with Old World glamour and romance. 14 Offering Memorandum

15 ECONOMIC SNAPSHOT Historically, Savannah s port facilities have been a primary economic driver for the area. Today, it is an industrial center and an important Atlantic seaport. The local economy is diverse in its major economic sectors of manufacturing, small business, tourism, military shipping from the port, higher education and large-scale healthcare and eldercare providers. The area also has some aerospace and general industry as well. Since the early 21st century, the tourism industry has dramatically boomed, stimulating the ongoing development of new hotels, restaurants, and shops. Economic growth in Savannah can be attributed to many hospitality entities throughout the city. 15 Applebee s - Hinesville

16 confidentiality disclaimer and agreement This Offering Memorandum contains select information pertaining to the business and affairs of Applebee s located at 1492 E Oglethorpe Highway, Hinesville, GA ( 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.

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18 APPLEBEE S 1492 E. Oglethorpe Highway Hinesville, GA EXCLUSIVELY LISTED BY CALVIN SHORT SVP & SENIOR DIRECTOR calvin.short@matthews.com DIR (949) MOB (310) LIC # (CA) CONNOR OLANDT ASSOCIATE connor.olandt@matthews.com DIR (949) MOB (818) LIC # (CA) KYLE MATTHEWS BROKER OF RECORD LIC # (GA) 18 Offering Memorandum Representative Photo