Subject SUBJECT Property PROPERTY SUBJECT PROPERTY Arby s Ground Lease 1700 North Becthle Avenue, Springfield, OH 45504 Phone: 212.972.7457 Fax: 212.686.0078 exp@exp1031.com www.exp1031.com Price: $1,304,348 l NOI: $75,000 CAP: 5.75% Newly renovated Arby s with sales 34% above average unit volume Pad Site to newly constructed Dick s Sporting Goods, with Kohl s, Bed Bath and Beyond, Marshalls and Sally Beauty Dominant retail node with Walmart Supercenter, Lowe s, Best Buy, Meijer s, and Home Depot Solid year over year sales growth and low rent to sales ratio Absolute Triple Net Ground Lease with approximately 10 years remaining 33 Unit Arby s franchisee (8 th largest) with 21 unit entity guaranteeing the lease Franchisee just spent $400,000 renovating the building
Property Investment Line Overview Map PROPERTY OVERVIEW: EXP Realty Advisors exclusively presents for sale this Arby's ground leased fee restaurant, which is a pad site to Bechtle Crossing, a highly visible shopping center located on the busy shopping corridor of Bechtle Avenue in Springfield, Ohio. The center features Kohl's, Marshalls, and Bed Bath & Beyond, and a newly built Dick's Sporting Goods. Walmart Supercenter, Lowe s, Home Depot, Best Buy, Hobby Lobby, PetSmart, ALDI, Dollar Tree, and Meijer s are also in the immediate area. Additional restaurants in the surrounding area include Chipotle, Olive Garden, Panera Bread, Texas Roadhouse, O'Charley's, Steak n Shake, Golden Corral, Rooster, Bob Evans, Red Lobster, Taco Bell, White Castle, and Frisch s Big Boy. The tenant, a 21 unit Wendy s franchisee spent $400,000 on a complete remodel of the Arby s restaurant in 2015. There are over nine years of remaining lease term on the absolute triple net ground lease. INVESTMENT SUMMARY Price: $1,304,348 CAP Rate: 5.75% NNN Rent: $75,000 Bld. Sq Ft: 3,312 sf LOCATION OVERVIEW: Springfield is a city in southwestern Ohio, approximately 45 miles west of Columbus and 25 miles northeast of Dayton. The Springfield Metropolitan Statistical Area has a population of 138,333 residents, and is part of the Dayton Combined Statistical Area. As Greater Cincinnati grows upwards, it could conceivably merge with Greater Dayton by 2020, thereby erasing any boundary between the two current Combined Statistical area. The new CSA, would be comparable in size to that of Orlando-Deltona-Dayton Beach, FL CSA, and place it within the 20 most populous metros in the US, with a population of nearly 3 million. LEASE SUMMARY: Lease Expiration Date: 02/28/2026 Annual Rent: $75,000 thru 2/28/21 Rental Increase: $80,000 thru 2/28/26 Options: 2 5 Year Options at $85,000 and $87,250 respectively Lease Type: Absolute Triple Net Ground Lease TENANT OVERVIEW: Heartland Beef, Inc. a division of HUSE Incorporated Heartland Beef Inc. was founded in 1999. Heartland Beef is the 8 th largest Arby s Franchisee in the country with 21 units in Illinois, Indiana, Iowa and Ohio. The company is part of the Huse Inc family of restaurants. Its restaurant holdings include 33 Arby's restaurants, 3 Harry & Izzy's locations in the Indianapolis area, and the one and only St. Elmo Steakhouse in Downtown Indianapolis. Financials and sales are available upon completing a confidentiality agreement. Land Size: Parking: Lease Type: Year Built: 1.00 ac 40 parking spaces Ground Lease 1997 and tenant spent $400,000 on a full building renovation in 2015 INVESTMENT OVERVIEW
Area Property Aerial History taken Line before Map the new Dick s Sporting Goods was constructed US 68: 20,834 VPD BECHTLE AVE: 14,943 VPD OH 41: 28,163 VPD AERIAL PHOTOGRAPH
Area Property Bird s History Eye Line View Map taken before the new Dick s Sporting Goods was constructed BECHTLE AVE: 14,943 VPD US 68: 20,834 VPD AERIAL PHOTOGRAPH
Area Property Photo History of Bechtle Line MapCrossing after it was renovated Subject Property PROPERTY PHOTOGRAPH
Area Property History Line Photograph Map Subject Property PROPERTY PHOTOGRAPH
Area Property History Line Photograph Map Subject Property PROPERTY PHOTOGRAPH
Area Property Photo History of Kohl s Line Map Subject Property PROPERTY PHOTOGRAPH
Area Property Aerial History Photograph Line Map taken before the new Dick s Sporting Goods was constructed AERIAL PHOTOGRAPH
Area Property Tax Lot History Map Line Map AERIAL PHOTOGRAPH
Property Location Line Map Map LOCATION MAP
Property Demographic Line Data Map Radius 1 Mile 3 Mile 5 Mile Population: 2020 Projection 2,754 41,798 84,733 2015 Estimate 2,812 42,046 85,301 2010 Census 2,994 42,335 86,121 2015 Population Hispanic Origin 61 1,389 2,268 2015 Population by Race: White 2,581 32,576 69,708 Black 130 7,124 11,675 Am. Indian & Alaskan 3 164 272 Asian 36 456 686 Hawaiian & Pacific Island 1 27 61 Other 61 1,698 2,899 U.S. Armed Forces 0 16 100 Households: 2020 Projection 1,237 16,777 34,583 2015 Estimate 1,260 16,851 34,796 2010 Census 1,319 16,752 34,834 Owner Occupied 949 9,057 21,247 Renter Occupied 311 7,794 13,550 2015 Avg Household Income $68,779 $53,204 $53,845 2015 Med Household Income $44,399 $35,159 $38,862 2015 Households by Household Inc: <$25,000 366 6,618 12,157 $25,000 - $50,000 313 4,082 8,806 $50,000 - $75,000 229 2,439 5,462 $75,000 - $100,000 114 1,494 3,893 $100,000 - $125,000 65 748 1,826 $125,000 - $150,000 61 499 976 $150,000 - $200,000 38 563 1,128 $200,000+ 76 407 551 Contact Us EXP Realty Advisors 118 East 28 th Street Suite #901 New York, NY 10016 Phone: (212) 972-7457 Fax: (212) 686-0078 www.exp1031.com Our Team Robert P. James President Phone: (212) 686-0072 Email: rob@exp1031.com Daniel de Sa Director of Sales Phone: (212) 972-3947 E-mail: dan@exp1031.com DEMOGRAPHIC DATA