Sonic Drive-In Clifton (Grand Junction), Colorado OFFERED BY: RYAN D. O CONNELL P. 602.595.4000 ryan@rdoinvestments.com Office 602.595.4000 Fax 602.467.3218 3219 East Camelback Road Phoenix, Arizona 85018 www.investments.com
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Investments, LLC and should not be made available to any other person or entity without the written consent of Investments, LLC. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Investments, LLC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Investments, LLC has not verified, and will not verify, any of the information contained herein, nor has Investments, LLC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. All properties visits are by appointment only.
PROPERTY SUMMARY TENANT: Sonic Drive- In GUARANTOR: Clifton Drive- In LLLP with Personal Guaranty LOCATION: 3203 Highway 6 & 24 Clifton (Grand Junction), Colorado 81520 PROPERTY TYPE: Single Tenant Fee Simple LEASE TYPE: NNN No Landlord Responsibilities LIST PRICE: $ 1,920,000 CAP RATE: 6.25 % ORIGINAL LEASE TERM: 20 Years OPTION PERIODS: 4 5 Year Renewals BASE RENT: Current 7/31/27: $120,000. YEAR BUILT: 2007 RENT COMMENCEMENT: July 17, 2007 LEASE EXPIRATION: July 31, 2027 BUILDING SQ. FT.: 1,704 sq. feet LAND AREA: 1.0 +/- acres FINANCING: Delivered Free and Clear *Base Rent for the Term Shall be due and payable in monthly installments equal to 9.1% of the previous months Gross Revenue less sales taxes, but shall never be less than $10,000.00 per month or $120,000.00 per year. Current Sales and Tenants monthly rent currently exceed the minimum under the lease. Option 1: $132,000. (10% increase) Option 2: $145,200. (10% increase) Option 3: $159,720. (10% increase) Option 4: $175,692. (10% increase).com
PROPERTY SUMMARY PROPERTY OVERVIEW: The subject property is an approximate 1,704 square foot Fee Simple Sonic Drive- In locabon built in 2007 on approximately 1.0 acre in CliFon, Colorado. The property is located at the signalized, hard corner of Interstate 70 and State Highway 141. The property has excellent visibility with over 55,900 cars per day combined on Highway 141 and Highway 6. The property is located next to a free- standing AutoZone and a 100% occupied mulb- tenant center with Jimmy Johns, Rent- A- Center, Papa Johns and Sleep SoluBons. Other nabonal retailers in the are include Walgreens, US Bank, Ace Hardware, Starbucks, McDonalds, Taco Bell, Best Western and CityMarket. The tenant signed a 20- year NNN lease which began in July 2007. Following the inibal 20- year term there are four 5- year opbons with 10% Increases. Under the lease, the Tenants Base Rent for the term shall be due and payable in monthly installments equal to 9.1% of the previous month s Gross Revenue less sales taxes, but shall never be less than $10,000.00 per month or $120,000.00 per year. Historical Sales provided upon request. LOCATION OVERVIEW: Considered a suburb of Grand JuncBon, CliFon Colorado is well known for its orchards and vineyards. Outside of town, seasonal fruit stands sell mouth- watering fruit grown on nearby farms. Also near CliFon is the scenic Colorado River State Park, a diverse natural area ideal for hiking, biking, picnicking, fishing and swimming. The park includes scenic stops along the Colorado River - Island Acres, Corn Lake, Connected Lakes and Fruita. The unique trail system winds through tree lined riverbanks and offers great fishing and picnic spots. Island Acres, closest to the dramabc Colorado NaBonal Monument and the Grand Mesa, is great for camping along the river. In addibon, the camping at Rabbit Valley, the last Colorado exit along I- 70, is some of the best in the state. One can enjoy mountain biking, four- wheeling and dinosaur bones just across the interstate from the camping areas. The City of Grand JuncBon is the home rule municipality that is the county seat and the most populous municipality of Mesa County, Colorado, United States. The city has a council manager form of government, and is most populous municipality in all of western Colorado. Grand JuncBon is situated 247 miles west- southwest of the Colorado State Capitol in Denver. Grand JuncBon is the largest city on Colorado's Western Slope, and serves as a hub for transportabon and shipping between Denver and Salt Lake City. The populabon of the Grand JuncBon, according to the 2010 Census, is 146,723. The name Grand JuncBon stems from the juncbon of the Colorado River and the Gunnison River. The area was first sefled by Europeans in the 1880s, but the area's history of human civilizabon stretches back thousands of years including the Ute and Fremont tribes, among others. In the late 19th century, seflers were drawn to the ferble Grand Valley for its agricultural potenbal, and the area remains one of Colorado's largest food producers, including peaches, pears, cherries and corn. In the late 1970s and early 1980s, the first grape vines were planted, sparking an increase in wine producbon. Now home to more than 20 wineries, Grand JuncBon is known as Colorado's wine country. Based upon the 2010 Census, the nabonal demographics consulbng firm Claritas has esbmated that for 2015 there are approximately 66,040 residents and 25,630 households within a five- mile radius of the Property. According to Claritas, the average household income within a five- mile radius of the Property was esbmated to be $56,006. From 2000-2010, populabon growth within a 1, 3 and 5 mile radius exceeded 21%..COM
TENANT OVERVIEW SONIC (NASDAQ: SONC), America's Drive- In, is the nabon's largest chain of drive- in restaurants with more than 3,500 drive- ins in over 44 states serving approximately 3 million customers every day. Over the past 60 years, SONIC has delighted guests with signature menu items, more than 1 million drink combinabons, friendly service by iconic Carhops and ongoing support of educabon through its award- winning Limeades for Learning program. SONIC received top honors as America s #1 burger quick service restaurant in the 2013 Temkin Experience RaBngs report. The Average Sonic Drive- In does over $1.1M in Average Unit Sales. HISTORY Founder Troy Smith Sr. started SONIC, America s Drive- In as a hamburger and root beer stand in 1953 in Shawnee, Okla., called Top Hat Drive- In. Back then, SONIC revolubonized the ordering process by using curbside speakers that allowed customers to place food orders without ever leaving their cars. This technology spawned the slogan Service at the Speed of Sound, which translated to one word: SONIC. Troy Smith Sr. aptly changed the name from Top Hat to SONIC Drive- In in 1959. The first drive- in to adopt the SONIC name is sbll serving customers in SBllwater, Oklahoma..COM
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CONTACT Ryan D. O Connell Principal Investments, LLC 3219 East Camelback Road Phoenix, Arizona 85018 P. 602-595-4000 F. 602-467-3218 M. 602-790-9036 E. ryan@investments.com.com