Pizza Hut 2759 W Oakland Park Blvd, Oakland Park, FL 33311 Offering Memorandum R E T A I L A D V I S O R S
CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Pizza Hut located at 2759 W Oakland Park Blvd, Oakland Park, FL 33311 ( Property ). It has been prepared by Matthews Retail Advisors. 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 Retail Advisors. 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 Retail Advisors 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 Retail Advisors 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. Matthews Retail Advisors
Table of Contents Pricing & Financial Analysis Investment Overview... 2 Investments Highlights... 2 Executive Summary...3 Company Overview...4 Property Description Physical Description...7 Birds Eye Map... 8 Regional Map... 9 Tenant Map...10 Demographics City Overview Oakland Park, FL...12 Demographics Report...13 EXCLUSIVELY LISTED BY: Wesley Connolly Associate direct +1.310.919.5809 MOBILE +1.707.477.7185 wesley.connolly@matthews.com License No. 01962332 Justin Beck Broker of Record License No. BK3118299
Matthews Retail Advisors
PRICING & FINANCIAL ANALYSIS
INVESTMENT OvervieW Wesley Connolly and the Matthews Retail Advisors are pleased to offer, for sale to qualified investors, an absolute NNN leased Pizza Hut located at 2759 W. Oakland Park Blvd, Oakland Park, FL. 33311. This property is operated by Koning Restaurants International (one of the largest Pizza Hut franchisees in the country) and owns a chain of 80 plus Pizza Hut restaurants in the area. This location enjoys one of the strongest sales in the system while also serving as a training and management center for most of their locations. Investment Highlights Absolute NNN Lease No Management responsibilities Rental increase of 10% every 5 years Two (2) five year options to renew Over 4.5 years Term remaining Incredibly strong store sales P. 2 Matthews Retail Advisors OFFERING MEMORANDUM Pizza Hut
PRICING ANALYSIS EXECUTIVE SUMMARY Pizza Hut 2759 W Oakland Park Blvd Oakland Park, FL 33311 List Price...$989,600 CAP Rate - Current... 9.13% Gross Leasable Area... 2,889 SF Lot Size...0.64 Acres ( 28,007 SF) Year Built...1985 / 1986 Annualized Operating Data Monthly Rent Annual Rent Rent/SF CAP Rate Current - 12/31/2020 $7,537.00 $90,444.00 $31.31 9.13% Option 1-12/31/2025 $8,290.70 $99,488.40 $34.44 10.05% Option 2-12/31/2030 $9,119.77 $109,437.24 $37.88 11.06% Tenant Summary Tenant Trade Name Pizza Hut Type of Ownership Fee Simple Lease Guarantor Franchisee Lease Type NNN Roof and Structure Tenant Responsible Original Lease Term 20 Years Lease Commencement Date 10/06/2000 Lease Expiration Date 12/31/2020 Term Remaining on Lease 4.5 years Increases 10% Every 5 Years Pizza Hut OFFERING MEMORANDUM Matthews Retail Advisors P. 3
COMPANY OVERVIEW Property Name Pizza Hut Property Type Net Leased Quick Service Restaurant Parent Company Trade Name Yum! Brands Ownership Private No. of Locations ±11,139 No. of Employees ±160,000 Headquartered Plano, TX Web Site www.pizzahut.com Year Founded 1958 Pizza Hut, Inc. operates a chain of pizza restaurants in the United States and internationally. It offers pizzas, pastas, wings, and drinks, as well as sides and desserts, such as stuffed pizza rollers, breadsticks, cheese sticks, baked desserts, and cinnamon sticks. The company also offers catering services. In addition, Pizza Hut franchises its restaurants. Further, it provides online ordering. The company was founded in 1958 and is based in Plano, Texas. Pizza Hut, Inc. operates as a subsidiary of Yum! Brands, Inc. Pizza Hut is split into several different restaurant formats; the original family-style dine-in locations; store front delivery and carryout locations; and hybrid locations that offer carry-out, delivery, and dine-in options. Many full-size Pizza Hut locations offer lunch buffet, with all-you-can-eat pizza, salad, bread sticks, and a special pasta. Additionally, Pizza Hut also has a number of other business concepts that are different from the store type; Pizza Hut Bistro locations are Red Roofs which offer an expanded menu and slightly more upscale options. P. 4 Matthews Retail Advisors OFFERING MEMORANDUM Pizza Hut
PROPERTY DESCRIPTION
P. 6 Matthews Retail Advisors OFFERING MEMORANDUM Pizza Hut
PROPERTY PHYSICAL DESCRIPTION THE OFFERING Property Name...Pizza Hut Property Address...2759 W Oakland Park Blvd Oakland Park, FL 33311 Assessor s Parcel Number... 49-42-20-01-0014 SITE DESCRIPTION Number of Stories...One Year Built... 1985 / 1986 Gross Leasable Area (GLA)...2,889 SF Lot Size...0.64 Acres (28,007 SF) Type of Ownership...Fee Simple Parking... 36 Surface Spaces Parking Ratio... 12.46 : 1,000 SF Landscaping...Professional Topography... Generally Level CONSTRUCTION Foundation...Concrete Slab Framing...Wood Exterior... Painted Stucco Parking Surface...Asphalt Roof...Pitched Pizza Hut OFFERING MEMORANDUM Matthews Retail Advisors P. 7
BIRDS EYE W Oakland Park Blvd CPD: 55,000 P. 8 Matthews Retail Advisors OFFERING MEMORANDUM Pizza Hut
PROPERTY REGIONAL DESCRIPTION MAP Pizza Hut OFFERING MEMORANDUM Matthews Retail Advisors P. 9
TENANT MAP P. 10 Matthews Retail Advisors OFFERING MEMORANDUM Pizza Hut
DEMOGRAPHICS
DEMOGRAPHIC ANALYSIS CITY OVERVIEW Oakland Park, FL Located on the West Orange Trail between Oakland and Winter Garden, Oakland Park is surrounded by old Florida communities and beautiful historic homes. This is Florida the way it should be a blending of water, majestic trees and a classic, small-town feel. Even the Oakland Park Information Center is on a particularly stunning section of the Green Mountain Scenic Byway. It s hard to image that a place so quaint is just minutes from the charm of Winter Garden and the excitement of Orlando. You truly can have the best of many worlds here at Oakland Park. Oakland Park s layout was inspired by small towns of the early twentieth century. Houses are close to the street to foster social interaction, while creating picturesque streetscapes. The town has integrated the natural environment in a way that entices you to get out and enjoy life, and designed everything to connect you with the experiences and activities you desire. And help you meet friends along the way. The preservation of old-florida s character and craftsmanship creates a stunning sanctuary you ll want to call home. Heritage Museum - Winter Garden P. 12 Matthews Retail Advisors OFFERING MEMORANDUM Pizza Hut
DEMOGRAPHICS ANALYSIS REPORT Population 1-Mile 3-Mile 5-Mile 2020 Projection 21,976 176,809 479,399 2015 Estimate 20,323 169,107 454,896 2010 Census 18,672 162,924 433,701 2000 Census 15,775 169,635 437,193 Growth 2000-2010 18.36% -3.96% -0.80% Growth 2010-2015 8.84% 3.80% 4.89% Growth 2015-2020 8.13% 4.55% 5.39% Households 2020 Projection 8,525 68,003 194,872 2015 Estimate 7,946 64,955 184,397 2010 Census 7,412 62,526 175,301 2000 Census 5,876 64,762 177,296 Growth 2000-2010 26.15% -3.45% -1.13% Growth 2010-2015 7.21% 3.88% 5.19% Growth 2015-2020 7.29% 4.69% 5.68% Income $0 - $15,000 17.87% 19.62% 15.73% $15,000 - $24,999 14.54% 14.50% 12.88% $25,000 - $34,999 11.35% 14.41% 12.51% $35,000 - $49,999 16.73% 17.14% 16.71% $50,000 - $74,999 21.05% 16.70% 17.23% $75,000 - $99,999 8.63% 8.19% 9.85% $100,000 - $124,999 4.74% 4.76% 5.90% $125,000 - $149,999 2.07% 2.06% 3.21% $150,000 - $199,999 2.00% 1.59% 3.08% $200,000 - $249,999 0.57% 0.46% 1.06% $250,000 - $499,999 0.37% 0.45% 1.33% $500,000+ 0.08% 0.12% 0.50% 2015 Est. Average Household Income $50,005 $47,579 $59,744 2015 Est. Median Household Income $40,597 $36,282 $42,962 Pizza Hut OFFERING MEMORANDUM Matthews Retail Advisors P. 13
Pizza Hut 2759 W Oakland Park Blvd Oakland Park, FL 33311 OFFERING MEMORANDUM Wesley Connolly Associate direct +1.310.919.5809 MOBILE +1.707.477.7185 wesley.connolly@matthews.com License No. 01962332 Justin Beck Broker of Record License No. BK3118299 Matthews Retail Advisors 841 Apollo Street, Suite 150 El Segundo, CA 90245 www.matthews.com