Single Tenant ABSOLUTE NNN INVESTMENT OPPORTUNITY Rome, Georgia REPRESENTATIVE PHOTO
CONTENTS 2 CONTENTS INVESTMENT SUMMARY...3 HIGHLIGHTS...4 PROPERTY DESCRIPTION...5 AERIAL VIEW & SITE PLAN...6 AREA OVERVIEW...10 RENT ROLL...11 REPRESENTATIVE PHOTO EXCLUSIVELY MARKETED BY JOHN TOPPING Associate 3400 Peachtree Road NE, Suite 1100 Atlanta, GA 30326 DL: 678.420.1384 John.Topping@srsre.com License No. 354999 MATTHEW MOUSAVI Managing Principal SRS National Net Lease Group 610 Newport Center Drive, Suite 400 Newport Beach, CA 92660 DL: 949.698.1116 M: 714.404.8849 Matthew.Mousavi@srsre.com License No. 01732226 ROBERT DRAKE Associate 3400 Peachtree Road NE, Suite 1100 Atlanta, GA 30326 DL: 678.420.1386 Robert.Drake@srsre.com PATRICK R. LUTHER, CCIM Managing Principal SRS National Net Lease Group 610 Newport Center Drive, Suite 400 Newport Beach, CA 92660 DL: 949.698.1115 M: 480.221.4221 Patrick.Luther@srsre.com License No. 01209944 This Offering Memorandum has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this Offering Memorandum. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.
INVESTMENT SUMMARY 3 ARBY S - ROME, GEORGIA SRS National Net Lease Group is pleased to present the rare opportunity to acquire Arby s with drivethru, a corporate guaranteed, absolute NNN leased investment property located in Rome, GA. The tenant, Arby s Restaurant Group, Inc., extended their lease for 10 years in November 2015 and has 2 (5-year) option periods to extend. The lease features 7.5% increases at the beginning of each renewal period, is corporate guaranteed, and is absolute NNN with zero landlord responsibilities. Arby s has occupied the property for over 30 years, demonstrating long-term commitment to the site. The subject site is located along U.S. Highway 27 / State Highway 20 (51,100 vehicles per day) in a strong retail corridor with nearby national tenants including Walgreens, Staples, Publix, Hobby Lobby, Chick-fil-A, Wells Fargo, and Krispy Kreme. The site is also across the street from Floyd Medical Center, the largest medical facility in northwest Georgia,with over 2,500 employees and 300 beds. Additionally, the area contains over 57,900 customers with an average household income of $49,160 within a 5-mile radius of the property. OFFERING Pricing: $1,525,000 Net Operating Income: $91,500 Cap Rate: 6.00% Guaranty: Lease Type: Landlord Responsibilities: Corporate Abs. NNN None REPRESENTATIVE PHOTO PROPERTY SPECIFICATIONS Rentable Area: 3,244 Land Area: 0.89 Acres Property Address: 805 Martha Berry Boulevard, Rome, GA 30165 Year Built: 1985 Parcel Number: J13Y-225 Ownership: Fee Simple (Land and Building)
HIGHLIGHTS 4 Corporate Guaranteed Lease / Recent Extension Arby s has 9 years remaining on a recent 10-year lease extension Tenant has occupied space since 1985 The lease features 7.5% rental increases at the beginning of each renewal term Corporate guaranty by Arby s Restaurant Group, Inc. Abs. NNN Lease / Fee Simple Ownership / Zero Responsibilities Tenant pays for all CAM, insurance, taxes, and maintains all aspects of the building No landlord responsibilities Ideal, management-free investment for an out of state, passive investor Highway Access / Prominent Signage / Drive-Thru Building U.S. Highway 27 / State Highway 20 (51,100 vehicles per day) Prominent signage further increases visibility for tenant Drive-thru feature provides ease and convenience for customers Across the Street From Floyd Medical Center Largest medical center in the entire region 2,500 employees and 300 beds Dense Trade Area Within 5-Miles Over 57,900 customers with an average household income of $49,160 within a 5-mile radius of property National tenants surrounding site include Walgreens, Staples, and Publix, Hobby Lobby, Chick-fil-A, Wells Fargo, and Krispy Kreme REPRESENTATIVE PHOTO
PROPERTY DESCRIPTION 5 PROPERTY DESCRIPTION PARCEL Parcel: J13Y-225 Acres: 0.89 Square Feet: 38,768 ZONING Commercial ACCESS There are a total of two access points both along Martha Berry Boulevard/ U.S Highway 27. TRAFFIC COUNTS Martha Berry Boulevard/ U.S Highway 27:...17,200 Turner Mccall Boulevard NE/ State Highway 20/ U.S Highway 27:...33,900 IMPROVEMENTS There is approximately 3,244 SF of existing building area. PARKING There are approximately 58 parking spaces on the owned parcel. The parking ratio is approximately 17.8 spaces per 1,000 SF of leasable area. REPRESENTATIVE PHOTO YEAR BUILT 1985
ARBY S ROME, GEORGIA AERIAL VIEW 6
ARBY S ROME, GEORGIA AERIAL VIEW 7
LOCATION MAP 8 CHATTANOOGA 2015 ESTIMATED POPULATION 3 Mile... 31,950 5 Mile... 57,913 2015 AVERAGE HOUSEHOLD INCOME 3 Mile...$43,002 5 Mile...$49,160 2015 ESTIMATED TOTAL EMPLOYEES 3 Mile... 28,066 5 Mile... 35,880 ROME ATLANTA BIRMINGHAM
Scants Pawn Shop SITE PLAN 9 Martha Berry Blvd. Monument Sign Drive-Thru
AREA OVERVIEW 1 0 CITY OF ROME The City is located in the foothills of the Appalachian Mountains, Rome is the largest city in and the county seat of Floyd County, Georgia, United States. It is the principal city of the Rome, Georgia, Metropolitan Statistical Area, which encompasses all of Floyd County. The City limits incorporate over thirty-one square miles and has a population of 36,323 as of July 1, 2015. It is the largest city in Northwest Georgia and the 19th largest city in the state. Rome had the strength of economic diversity, with an economy founded in manufacturing, education, healthcare, technology, tourism, and other industries. Rome is also well known in the region for its medical facilities, particularly Floyd Medical Center, Redmond Regional Medical Center, and the Harbin Clinic. National companies that are part of Rome s technology industry include Brugg Cable and Telecom, Suzuki Manufacturing of America, automobile parts makers Neaton Rome and F&P Georgia, Peach State Labs, and the North American headquarters of Pirelli Tire. Other major companies in Rome include State Mutual Insurance Company. DEMOGRAPHICS 1 Mile 3 Miles 5 Miles 2015 Estimated Population 3,787 31,950 57,913 2020 Projected Population 3,787 32,088 58,341 2010 Census Population 3,789 31,732 57,411 2000 Census Population 4,366 31,555 54,548 Projected Annual Growth 2015 to 2020 0.00% 0.09% 0.15% Historical Annual Growth 2010 to 2015 0.00% 0.13% 0.17% 2015 Estimated Households 1,731 11,366 21,336 2020 Projected Households 1,727 11,391 21,465 2010 Census Households 1,745 11,386 21,267 2000 Census Households 1,903 11,513 20,443 Projected Annual Growth 2015 to 2020 0.00% 0.04% 0.12% Historical Annual Growth 2010 to 2015 0.00% 0.00% 0.06% 2015 Estimated White 49.70% 53.46% 64.14% 2015 Estimated Black or African American 34.43% 30.35% 22.10% 2015 Estimated Asian or Pacific Islander 0.79% 0.91% 1.56% 2015 Estimated American Indian or Native Alaskan 0.66% 0.62% 0.50% 2015 Estimated Other Races 11.67% 11.74% 8.94% 2015 Estimated Hispanic 18.25% 19.06% 15.35% 2015 Estimated Average Household Income $35,282 $43,002 $49,160 2015 Estimated Median Household Income $20,152 $29,141 $34,422 2015 Estimated Per Capita Income $16,348 $16,377 $18,922 2015 Estimated Total Businesses 963 2,280 3,041 2015 Estimated Total Employees 11,845 28,066 35,880
RENT ROLL 1 1 Arby s Starbucks Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates desserts, in four wraps, segments: curly fries, Americas, Europe, Africa, and China/Asia Pacific. Starbucks stores offer coffee and tea beverag- Arby s Restaurant Group, Inc. owns, operates, and franchises quick-service sandwich restaurants. Its menu includes meat, sliders, salads, sides, beverages, Company Type:... Private Website:... www.arbys.com Locations:...3,400 homestyle fries, potato cakes, mozzarella sticks, onion petals, es, biscuits packaged and shakes roasted in various whole bean and ground coffees, and other bottled beverages. Its stores also provide fresh food flavors, such as jamocha, chocolate, strawberry, and vanilla. offerings The company such operates as pastries, more breakfast sandwiches, and lunch items. As of August 27, 2015, Starbucks operates 21,000 than 3,300 restaurants worldwide. Arby s Restaurant Group, Inc. stores. was Starbucks founded in was 1964 founded and in 1985 and is headquartered in Seattle, Washington. is headquartered in Atlanta, Georgia. Tenant Name Square Feet Lease Start Lease End Begin Monthly Annually Recovery Type Options: 2 (5-year) Arby s 3,244 11/1/2015 10/31/2025 Current $7,625 $91,500 Abs. NNN Option 1: $98,362/Yr (corporate) (est.) Option 2: $105,739/Yr FINANCIAL INFORMATION Price:...$1,525,000 Net Operating Income:...$91,500 Cap Rate:...6.00% Lease Type:... Absolute NNN PROPERTY SPECIFICATIONS Address:... 805 Martha Berry Boulevard, Rome, GA 30165 Year Built:...1985 Rentable Area:...3,244 Parcel Number:... J13Y-225 REPRESENTATIVE PHOTO
REPRESENTATIVE PHOTO