SVN The Kase Group Burger King NNN Leased Offering Albert Lea, MN $1,643,500 5.75% CAP Offering Highlights Long Term Absolute NNN Lease 100% Fee Simple Interest Representative Photo Zero Landlord Obligations Scheduled Annual Increases in Rent Owned, Operated and Guaranteed by Established Burger King Franchisee Located on a Major Commercial Thoroughfare Jacob Abusharkh Managing Director 415.269.2474 jacob@svn.com BRE#01385529
SVN The Kase Group Disclaimer Confidentiality The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Sperry Van Ness or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Property Owner ( Owner ) in connection with the sale of the Property is the Sperry Van Ness Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to Sperry Van Ness. Neither the Sperry Van Ness Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Sperry Van Ness with respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the Sperry Van Ness Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the Sperry Van Ness Advisor, nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the Sperry Van Ness Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
SVN The Kase Group CONTENTS PROPERTY OVERVIEW Offering Highlights Executive Summary FINANCIAL OVERVIEW Financial Summary LOCATION OVERVIEW Location Maps Aerial Photo DEMOGRAPHICS Demographics Report Demographics Map
SVN The Kase Group PROPERTY OVERVIEW Offering Highlights Executive Summary
Offering Highlights Long Term Absolute NNN Lease 100% Fee Simple Interest Zero Landlord Obligations Scheduled Annual Increases in Rent Owned, Operated and Guaranteed by Established Burger King Franchisee Located on a Major Commercial Thoroughfare
Executive Summary 2011 East Main Street Albert Lea, MN 56007 Investment Overview Sale Price: $1,643,500 CAP Rate: 5.75% Net Operating Income: $94,488 Building Size: 4,559 SF Lot Size: 1.31 Acre Year Built: 1979; 2000 Remodel Property This is a rare absolute NNN lease opportunity in Albert Lea, MN. The offering is the 100% fee simple interest with 10 years remaining on the primary term. There are scheduled annual 1.5% increases in rent with percentage incentives. The location is owned, operated and guaranteed by Tri City Foods, Inc., an established franchisee of Burger Kings throughout the country. Location Albert Lea is a city in and the county seat of Freeborn County in the southeastern part of the State of Minnesota. The population was 18,016 at the 2010 census. The city is at the junction of Interstates 35 and 90, about 90 miles (140 km) south of the Twin Cities. It is on the shores of Fountain Lake, Pickerel Lake, Albert Lea Lake, Goose Lake, School Lake, and Lake Chapeau. Fountain Lake and Albert Lea Lake are part of the Shell Rock River flowage.
SVN The Kase Group FINANCIAL OVERVIEW Financial Summary
Financial Summary 2011 East Main Street Albert Lea, MN 56007 $1,643,500 5.75% CAP CAP Rate: 5.75% Building SF: 4,559 Lot Size: 1.31 AC Type of Ownership: Fee Simple Tenant Name GLA Lease Begin Lease End Annual Rent Increases Options Tri City Foods, Inc. 4,559 SF 8/11/2005 8/11/2025 $94,488 Rent Increases Tenant has four 1.5% annually 5 year options to renew Operating Summary 2015 2016 2017 2018 2019 Net Operating Income $94,499 $95,905 $97,344 $98,804 $100,286 CAP Rate 5.75% 5.84% 5.92% 6.01% 6.10% 2020 2021 2022 2023 2024 Net Operating Income $101,790 $103,317 $104,867 $106,440 $108,036 CAP Rate 6.19% 6.29% 6.38% 6.48% 6.57%
SVN The Kase Group LOCATION OVERVIEW Location Maps Aerial Photo
Location Maps
Aerial Photo
SVN The Kase Group DEMOGRAPHICS Demographics Analysis Demographics Map
Demographics Analysis 1 Mile 5 Miles 10 Miles Total Population 2,106 25,472 31,269 Total Number of Households Total Number of Persons per Household Average House Value Average Household Income 827 10,910 13,245 2.5 2.3 2.4 $113,468 $133,225 $39,356 $49,070 $51,696 Median Age Median Age - Male Median Age - Female 38.3 43.0 43.6 37.1 40.7 41.4 40.7 45.4 45.9 Total Population - White Total Percent - White 1,991 24,026 29,662 94.5% 94.3% 94.9% Total Population - Black Total Percent - Black 9 289 304 0.4% 1.1% 1.0% Total Population - Asian Total Percent - Asian 71 302 309 3.4% 1.2% 1.0% Total Population - Hawaiian Total Percent - Hawaiian 0 0 0 0.0% 0.0% 0.0% Total Population - Indian Total Percent - Indian 5 121 138 0.2% 0.5% 0.4% Total Population - Other Total Percent - Other 22 497 570 1.0% 2.0% 1.8% Total Population - Hispanic Total Percent - Hispanic 432 2,939 3,138 20.5% 11.5% 10.0% * Demographic information provided by BuildOut, Inc.
Demographics Map 2011 East Main Street Albert Lea, MN 56007 Radius Map 1 Mile 5 Miles 10 Miles Total Population 2,106 25,472 31,269 Total Number of Households 827 10,910 13,245 Average Household Income $39,356 $49,070 $51,696 Median Age 38.3 43.0 43.6 * Demographic information provided by BuildOut, LLC
SVN The Kase Group PRESENTED BY Jacob Abusharkh Managing Director 415.269.2474 jacob@svn.com BRE#01385529 2013 All rights reserved