Representative Photo GOLDEN CORRAL 1990 DEWAR DRIVE, ROCK SPRINGS, WY 82901 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 Golden Corral located at 1990 Dewar Drive, Rock Springs, WY 82901 ( 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 Highlights... 2 Executive Summary... 3 Company Overview... 4 PROPERTY DESCRIPTION Physical Description... 7 Birds Eye... 8 Regional Map... 9 Tenant Map... 10 DEMOGRAPHICS City Overview Rock Springs, WY... 13 Demographics Report... 14 EXCLUSIVELY LISTED BY: Gary Chou Director Restaurant Practice Group DIRECT +1.310.919.5827 MOBILE +1.714.928.8016 gary.chou@matthewsretailgroup.com License No. 01911222 Kyle Matthews Broker of Record License No. 363764
Representative Matthews Retail Advisors Photo
Pricing & Financial Analysis
Investment Highlights POPULAR BRAND AND STRONG OPERATOR Nationally Recognized Brand Golden Corral operates over 500 locations and employs over 9000 employees Award Winning Concept - Headquartered in Raleigh, NC, the chain brings in over $1.735 B in revenue annually and has been consistently awarded recognition for being the Best Buffet in the USA GREAT PASSIVE INVESTMENT Absolute NNN Investment Zero landlord responsibilities making this investment great for out of state investors looking for passive income STRONG RETAIL LOCATION Retail Oriented Location Located just off Interstate 80, Golden Corral gains retail synergy as the site sits in the main retail location in Rock Springs, WY Attractive Traffic Counts The intersection that Golden Corral is located, Deawr Dr and Winston Dr, traffics over 18,000 CPD Other national tenants in the immediate area include Walgreens, Sherwin-Williams, Arby s, Subway, Taco Bell, Sonic, Walmart, Wendy s, Family Dollar, Albertsons, and O Reilly among others P. 2 Matthews Retail Advisors OFFERING MEMORANDUM Golden Corral
Executive Summary GOLDEN CORRAL 1990 DEWAR DRIVE ROCK SPRINGS, WY 82901 List Price...$525,000 CAP Rate - Current...8.00% Gross Leasable Area... 5,414 SF Lot Size...1.09 Acres ( 47,480 SF) Year Built...1995 Annualized Operating Data Monthly Rent Annual Rent CAP Rate Current - 6/30/2016 $3,500.00 $42,000.00 8.00% 7/1/2016-6/30/2021 $4,000.00 $48,000.00 9.14% Tenant Summary Tenant Trade Name Golden Corral Type of Ownership Fee Simple Lease Guarantor None Lease Type NNN Roof and Structure Tenant Original Lease Term 10 Lease Commencement Date 8/31/2011 Rent Commencement Date 8/31/2011 Lease Expiration Date 6/30/2021 Term Remaining on Lease 5.8 Increases 14.29% in 2015 Options None - Month to Month - 150% rent increase Golden Corral OFFERING MEMORANDUM Matthews Retail Advisors P. 3
Company Overview Property Name Property Type Parent Company Trade Name Golden Corral Quick Service Restaurant Golden Corral Ownership Private No. of Locations 500 No. of Employees 9,000 Headquartered Web Site Raleigh, NC http://www.goldencorral.com Year Founded 1973 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 legendary, endless dinner buffet features an enormous variety with 15 proteins including USDA, grilled to order sirloin steaks, pork, seafood, shrimp, and chicken. We are especially proud to serve USDA sirloin, aged and hand-cut daily by our in-restaurant butchers. The endless lunch buffet features a wide variety of home-style classics like our pot roast simmered for 12-hours, made-from-scratch meatloaf, crispy fried chicken, creamy mac and cheese, made-from-scratch mashed potatoes, beloved Bourbon Street Chicken, so many fresh salad choices and dozens of other items. Our endless breakfast buffet features made-to-order omelettes, fluffy pancakes, hot-off-the griddle sausage and bacon, fruit, French toast, pastries and much more. Our bakery and dessert buffet are filled with freshly baked breads, like our famous yeast rolls, homemade cakes and pies, delicious cookies, brownies, pastries, and ice cream. P. 4 Matthews Retail Advisors OFFERING MEMORANDUM Golden Corral
Property Description
P. 6 Matthews Retail Advisors Representative Photo OFFERING MEMORANDUM Golden Corral
Physical Description THE OFFERING Property Name... Golden Corral Property Address...1990 Dewar Drive Rock Springs, WY 82901 Assessor s Parcel Number...04-1905-34-3-03-013.00 SITE DESCRIPTION Number of Stories...One Year Built...1995 Gross Leasable Area (GLA)... 5,414 SF Lot Size... 1.09 Acres (47,480 SF) Type of Ownership...Fee Simple Landscaping...Professional Topography... Generally Level CONSTRUCTION Foundation...Concrete Slab Framing...Wood Exterior... Painted Stucco Parking Surface...Asphalt Roof...Flat Golden Corral OFFERING MEMORANDUM Matthews Retail Advisors P. 7
Birds Eye P. 8 Matthews Retail Advisors OFFERING MEMORANDUM Golden Corral
Regional Map Golden Corral OFFERING MEMORANDUM Matthews Retail Advisors P. 9
Tenant Map Golden Corral OFFERING MEMORANDUM Matthews Retail Advisors P. 10
P. 11 Matthews Retail Advisors OFFERING MEMORANDUM Representative Golden Corral Photo
Demographics
City Overview Rock Springs, WY Rock Springs also known as the City Where Dreams are Made is a city in Sweetwater County, Wyoming, United States. Rock Springs is the principal city of the Rock Springs micropolitan statistical area. It is abundent in natural coal oil and gas and was originally built as a mining town. Rock Springs is known as the Home of 56 Nationalities because of the influx of immigrants from all over the world who came to work in the coal mines that supplied the fuel to power the steam engines of the Union Pacific Railroad. The city s rich cultural heritage is celebrated each summer on International Day, a festival where the foods, costumes, and traditions of residents ancestors are recreated and enjoyed at Bunning Park in downtown Rock Springs. Rock Springs is the site of Western Wyoming Community College and Wyoming s Big Show, a yearly event with a carnival and concerts which is held at the Sweetwater County Events Complex. Every year during July, August, and September the city holds a county fair called Wyoming s Big Show. The event includes theme park rides, booths, restaurants and live entertainment. Rodeos have been a staple of the fair and famous performers are sometimes a part of the entertainment. Rock Springs also hosts several festivals throughout the year, including the International Festival (to honor the city s nickname), the Blues and Brews Festival, the Wyoming Chocolate Festival P. 13 Matthews Retail Advisors OFFERING MEMORANDUM Golden Corral
Demographics Report Population 1-Mile 3-Mile 5-Mile 2020 Projection 2,983 23,986 29,148 2015 Estimate 2,889 22,813 27,662 2010 Census 2,818 21,696 26,209 2000 Census 2,239 17,792 22,922 Growth 2015-2020 3.26% 5.14% 5.37% Growth 2010-2015 2.50% 5.15% 5.55% Growth 2000-2010 25.87% 21.95% 14.34% Households 2020 Projection 1,035 9,293 11,070 2015 Estimate 1,006 8,829 10,505 2010 Census 981 8,334 9,905 2000 Census 804 7,013 8,853 Growth 2015-2020 2.91% 5.25% 5.38% Growth 2010-2015 2.52% 5.95% 6.05% Growth 2000-2010 21.97% 18.83% 11.89% Income $0 - $15,000 6.36% 6.16% 6.16% $15,000 - $24,999 4.67% 6.17% 6.17% $25,000 - $34,999 10.24% 9.51% 9.51% $35,000 - $49,999 13.22% 11.28% 11.28% $50,000 - $74,999 24.85% 19.84% 19.84% $75,000 - $99,999 14.51% 15.44% 15.44% $100,000 - $124,999 13.12% 14.26% 14.26% $125,000 - $149,999 6.96% 8.66% 8.66% $150,000 - $199,999 3.08% 5.28% 5.28% $200,000 - $249,999 1.29% 1.69% 1.69% $250,000 - $499,999 1.49% 1.47% 1.47% $500,000+ 0.20% 0.23% 0.23% 2015 Est. Average Household Income $76,121 $82,075 $81,832 2015 Est. Median Household Income $65,546 $71,265 $70,702 Golden Corral OFFERING MEMORANDUM Matthews Retail Advisors P. 14
GOLDEN CORRAL 1990 Dewar Drive Rock Springs, WY 82901 OFFERING MEMORANDUM Gary Chou Director Restaurant Practice Group DIRECT +1.310.919.5827 MOBILE +1.714.928.8016 gary.chou@matthewsretailgroup.com License No. 01911222 Kyle Matthews Broker of Record License No. 363764 Matthews Retail Advisors 841 Apollo Street, Suite 150 El Segundo, CA 90245 www.matthews.com