SINGLE TENANT RETAIL INVESTMENT Subject Property D. 248.254.3407 D. 248.254.3406
DISCLOSURE All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as FNL ), its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE: Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws.
INVESTMENT SUMMARY List Price $635,000 Land Acreage.55 Acres Building SF 2,289 SF Current NOI $44,000 Initial Cap Rate 7.0% Year Built 1977/2013 Renovated LEASE SUMMARY Lease Type NNN Taxes/CAM/Insurance Tenant Responsibility Roof/Structure Tenant Responsibility Parking Lot Replacement Tenant Responsibility Lease Term 10 Years Rent Commencement April 1, 2012 Lease Term Expiration March 31, 2022 Term Remaining 6 Years Tenant Redberry Resto Brands Int l, Inc. Guarantor Pizza Hut, Inc. INVESTMENT HIGHLIGHTS 10 Year NNN Lease Requiring Zero Landlord Responsibilities 40 Year Occupancy at Current Location Lease Extension Shows Commitment to Site 111 Feet of Frontage on Pontiac Trail 31 Surface Parking Spaces LOCATION HIGHLIGHTS Located at the Intersection of N. Pontiac Trail and S. Commerce Road Positioned Along Major Retail Corridor 20,000+ VPD at Intersection Population Exceeds 132k+ within Five Miles 4.28% Growth within 3 Miles by 2020 Median Home Value is over $215,000 within a Five Mile Radius Average Household Income within Five Miles is Over $99,000 Subject Property Located near National Tenants Including CVS, KFC, Burger King, Taco Bell, Subway, AutoZone, Big Boy, Dollar General, Sav- Mor, Ace Hardware and More PROPERTY IMAGES Property Aerial Property Street View Click HERE for Image Click HERE for Image Subject Property
INVESTMENT OVERVIEW Fortis Net Lease is pleased to present a free-standing Pizza Hut/Wing Street Restaurant located at 1125 N. Pontiac Trail in Walled Lake, MI. This 10 year NNN lease amendment commenced in April 1, 2012 and will expire in March 31, 2022. The restaurant has been in its current location for 40 years and the lease extension shows the tenant s commitment to the site. This investment property is surrounded by many national retailers such as CVS, Ace Hardware, Sav-Mor, Dollar General, Taco Bell, Subway and many more. The median home value within five miles is over $215,000. The population within a five mile radius exceeds 132,000 residents with expected growth within three miles to be 4.28% by 2020. The average household income within a five mile radius exceeds $99,000. This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero management responsibilities. The tenant is responsible for all property taxes, insurance and capital expenditures including the roof, structure & HVAC. TENANT OVERVIEW Pizza Hut, a subsidiary of Yum! Brands, is the world s largest pizza company, specializing in the pizzas you never have to settle for Pan Pizza, Thin N Crispy Pizza, Hand-Tossed Style Pizza and Stuffed Crust Pizza. Pizza Hut began 57 years ago in Wichita, Kansas, and today is an iconic global brand that delivers more pizza, pasta and wings than any other restaurant in the world. A true innovator in the pizza category, we were not only the first to provide America with Pan Pizza, but we were also the first ever online purchase. Our Pizza Hut division includes more than 13,600 restaurants in 85 countries, excluding the Yum! China and India Divisions. We are taking the powerful Pizza Hut Red Roof icon and continuing to open new units around the world. We began building delivery carryout units in 1988 and today it is the fastest growing part of our business. With Delivery, our strategy is to take advantage of our existing scale and quickly grow the brand in both developed and emerging markets. Our Express business found in shopping malls, large retail chains, travel centers and on military bases is the clear leader in the U.S. and we are growing it internationally. Dine-In has always been at the heart of our business. We are building vibrant casual dining Pizza Hut restaurants in many international markets and offer a Pizza and More menu strategy. We have also developed a new sub-brand in the U.S. called WingStreet, making Pizza Hut the first big American chain to deliver chicken, sides and complete chicken dinners.
LOCATION OVERVIEW Walled Lake, MI Walled Lake is a city in Oakland County in the U.S. state of Michigan. The population was 6,999 at the 2010 census. According to the United States Census Bureau, the city has a total area of 2.37 square miles of which 2.18 square miles is land and 0.19 square miles is water. Walled Lake is north of the City of Novi. As of the census of 2010, there were 6,999 people, 3,347 households, and 1,771 families residing in the city. The population density was 3,210.6 inhabitants per square mile. There were 3,689 housing units at an average density of 1,692.2 per square mile. There were 3,347 households of which 25.4% had children under the age of 18 living with them, 34.4% were married couples living together, 13.7% had a female householder with no husband present, 4.8% had a male householder with no wife present, and 47.1% were non-families. 39.7% of all households were made up of individuals and 12.8% had someone living alone who was 65 years of age or older. The average household size was 2.09 and the average family size was 2.82. The median age in the city was 39.4 years. 19.9% of residents were under the age of 18; 8% were between the ages of 18 and 24; 30.2% were from 25 to 44; 28.2% were from 45 to 64; and 13.8% were 65 years of age or older. The gender makeup of the city was 46.6% male and 53.4% female. From the 1980s to present day... a continuous and dynamic change can be noticed along the lakeshore. The old cottages of the past are being renovated or torn down making way for new homes. Today Walled Lake is a thriving lakeside community. Its residents still enjoy the small town feeling with the convenience of being close to fine dining, shopping, entertainment, and major expressways.
SINGLE TENANT RETAIL INVESTMENT D. 248.254.3407 D. 248.254.3406
Population 1 Mile 3 Mile 5 Mile 2015 Total Population: 8,793 60,159 132,913 2020 Population: 9,123 62,731 138,209 Pop Growth 2015-2020: 3.75% 4.28% 3.98% Average Age: 40.90 39.20 39.80 Households 2015 Total Households: 3,963 25,971 52,986 HH Growth 2015-2020: 3.79% 4.26% 4.05% Median Household Inc: $63,654 $62,579 $76,317 Avg Household Size: 2.20 2.30 2.50 2015 Avg HH Vehicles: 2.00 2.00 2.00 Housing Median Home Value: $140,826 $183,356 $215,902 Median Year Built: 1982 1989 1986 Population: 1 Mile 3 Mile 5 Mile 2020 Projection 9,123 62,731 138,209 2015 Estimate 8,793 60,159 132,913 2010 Census 8,465 56,641 126,734 Growth 2015-2020 3.75% 4.28% 3.98% Growth 2010-2015 3.87% 6.21% 4.88% 2015 Population Hispanic Origin 266 2,297 3,917 2015 Population by Race: White 7,905 47,743 106,268 Black 354 6,481 12,369 Am. Indian & Alaskan 30 161 304 Asian 321 4,537 11,409 Hawaiian & Pacific Island 1 8 23 Other 181 1,229 2,541 U.S. Armed Forces 6 25 52 Households: 2020 Projection 4,113 27,078 55,130 2015 Estimate 3,963 25,971 52,986 2010 Census 3,821 24,517 50,469 Growth 2015-2020 3.79% 4.26% 4.05% Growth 2010-2015 3.72% 5.93% 4.99% Owner Occupied 2,928 15,714 37,556 Renter Occupied 1,035 10,257 15,430 2015 Avg Household Income $74,554 $83,361 $99,662 2015 Med Household Income $63,654 $62,579 $76,317 2015 Households by Household Inc: <$25,000 576 4,440 7,292 $25,000 - $50,000 915 5,894 9,987 $50,000 - $75,000 877 4,775 8,833 $75,000 - $100,000 655 3,258 7,221 $100,000 - $125,000 418 2,698 5,666 $125,000 - $150,000 245 1,694 4,358 $150,000 - $200,000 186 1,723 4,463 $200,000+ 91 1,488 5,165
MORE THAN $4.7 BILLION IN SALES Fortis Net Lease is a national investment real estate brokerage firm specializing in the acquisition and disposition of investment real estate. We help developers, franchisees, private investors and institutional funds accomplish their short and long term investment goals. The principals of Fortis Net Lease have successfully sold hundreds of properties in over three dozen states with a total transaction volume topping $4.7 billion. Fortis Net Lease specializes in the acquisition and disposition of the following: Net leased single tenant properties (Pharmacies, Auto Parts, Dollar Stores, Banks, QSR, Office/Industrial, Medical, Junior/Big Box, etc.) Portfolios & Corporate Sale-Leaseback Transactions (Burger King, Arby s, Tutor Time, Taco Bell, Wendy s, etc.) Multi-Tenant Retail Centers & Medical Office (Anchored or Unanchored - 5,000-1,000,000 SF) The advisors at Fortis Net Lease create long term relationships with our investors by delivering superior services and unparalleled results. When you hire Fortis Net Lease as your exclusive representative you will experience the individual attention and professionalism that you will not receive at other large brokerage firms. OUR AGENTS DOUG PASSON ROB BENDER BRYAN BENDER DENO BISTOLARIDES BRANDON HANNA RICHARD LUDWIG Managing Director Managing Director Managing Director Senior Director (248) 254.3407 (248) 254.3406 (248) 419.3810 (248) 419.3882 (248) 419.3285 (248) 419.3638 MARVIN DELAURA MIKE CARTER PAT HAMMOND MIKE JAWORSKI DANTE HARGIS MATT WEBER Senior Director Senior Associate Senior Associate OUR TEAM Senior Associate Senior Associate Senior Associate (248) 419.3811 (248) 419.3812 (248) 419.3808 (248) 419.3807 (248) 419.3886 (248) 419.3884 DOUG PASSON ROB BENDER BRYAN BENDER MIKE CARTER MARV DELAURA MIKE JAWORKSI JOSEPH WERNER FRANK Managing ROGERS Partner MIKE Associate GAGGO Director BEN Senior SCHULTZ Associate KYLE Senior CARSON Associate ABRAHAM Senior Associate LEON Senior (248)254.3410 Associate Senior (248) 254.3410 Associate Associate (248) 254.3410 Associate (248) 254.3410 Associate (248) 254.3410 Associate (248) 254.3410 (732) 779.6537 (248) 419.3741 (248) 419.3286 (248) 254.3409 (248) 419.3271 (248) 419.3625 PAT HAMMOND FRANK ROGERS KYLE CARSON BEN SCHULTZ FORTIS NET LEASE DANNY SAMONA BRENT HANNA BRANDON KASSAB VINCE PIPIA ALEC MANOOGIAN JACK WARDLOW Associate Senior Associate Associate Senior Associate Associate Business Development Associate Business Development Analyst 30445 Northwestern Highway, Suite Analyst 345 (248) 254.3410 419.3627 (248) 419.3741 419.3284 (248) 254.3410 419.3629 (248) 254.3410 419.3840 (248) Farmington 807.3629 Hills, MI 48334 (248) 419.3842 DAN MILLER ANDREW BENDER TRACEY SENSING SHEREN ZAKARIA AMY JONES FORTIS NET LEASE Analyst Analyst Coordinator Coordinator Office Manager 30445 Northwestern Hwy., Ste. 275 (586) 202.7168 (248) 419. 3657 (248) 419.3888 (248) 419.3805 (248) 419.3631 Farmington Hills, MI 48334 This information is deemed confidential and privileged and may contain inside information. If you are not the intended receiver do not read, copy or distribute this offering memorandum, instead delete or destroy it and contact one of our representatives. This information is believe to be accurate but is not represented or warranted by Fortis Net Lease or any of our agents or contractors.