OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP...

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Absolute NNN Lease Investment Opportunity OFFERING MEMORANDUM 2501 Flat Shoals Road | Atlanta, GA Representative Image

Transcript of OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP...

Page 1: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

Absolute NNN Lease Investment Opportunity OFFERING MEMORANDUM

2501 Flat Shoals Road | Atlanta, GA

Representative Image

Page 2: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

Exclusively Marketed By: Sands Investment Group

Sands Investment Group 2701 Ocean Park Boulevard, Suite 140 Santa Monica, CA 90405 844.4.SIG.NNN www.SIGnnn.com

© 2015 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum,’ has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy, however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine it’s accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction.

INVESTMENT SUMMARY

AREA OVERVIEW

TENANT PROFILE

LEASE ABSTRACT

Investment Summary Investment Highlights

Location & Area Maps Retail Map City Overview

Tenant Profile

Lease Summary Rent Roll

2501 Flat Shoals Road Atlanta, GA 30349

Luke Wakefield Lic. 361563 770.800.3035 | DIRECT [email protected]

Andrew Ackerman Lic. 345338 770.626.0445 | DIRECT [email protected]

Page 3: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

INVESTMENT SUMMARY

OFFERING SUMMARY

PRICE $3,771,000

CAP 5.78%

NOI $217,800*

PRICE PER SF $912.85

YEARS REMAINING 13 Years

LEASE GUARANTY EggsCellence LLC & Personal Guaranty

PROPERTY SUMMARY

ADDRESS 2501 Flat Shoals Road

Atlanta, GA 30349

COUNTY Fulton

BUILDING AREA 4,131

LAND AREA 0.98 AC

BUILT 2008 Representative Image

*Rent is based on upcoming rental increase in 09/16. A rent credit will be provided to buyer.

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Page 4: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

INVESTMENT HIGHLIGHTS HIGHLIGHTS

•  Outparcel to Walmart Supercenter

•  Absolute NNN Lease

•  Built in 2008

•  13 Years Remaining

•  Strong Demographics of 65000+/- People within 3 Miles

•  Strong Traffic Counts of 14,000 VPD on Flat Shoals Rd and 38,000 VPD on Old National Highway

•  Personal Guaranty by 2 High Net Worth Individuals on Top of Franchise Guaranty

Representative Image

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Page 5: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

LOCATION MAP

Page 6: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

AERIAL MAP

Page 7: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

RETAIL MAP

Page 8: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

SUBJECT PROPERTY DEMOGRAPHICS 1 Mile 3 Mile 5 Mile

Population 9,454 61,507 132,374

Median Household Income $50,482 $40,247 $37,893

AREA OVERVIEW

Street / Cross Road Average Vehicles Per Day

Flat Shoals Rd 14,900

Page 9: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

Atlanta is the  capital  of and the most populous city in the U.S. State of Georgia, with an estimated 2013 population of 447,841. Atlanta is the cultural and economic center of the Atlanta metropolitan area, home to 5,522,942 people and the  ninth largest metropolitan area  in the United States. Atlanta is the county seat of Fulton County, and a small portion of the city extends eastward into DeKalb County. Atlanta was established in 1837 at the intersection of two railroad lines, and the city rose from the ashes of the Civil War  to become a national center of commerce. In the decades following the  Civil Rights Movement, during which the city earned a reputation as "too busy to hate" for the progressive views of its citizens and leaders , A t lan ta a t ta ined in te r nat iona l prominence. Atlanta is the primary transportation hub of the  Southeastern United States, via highway, railroad, and air, with Hartsfield–Jackson Atlanta International Airport  being the  world's busiest airport since 1998. Atlanta is considered an  "alpha-" or "world city", ranking 36th among world cities and 8th in the nation with a gross domestic product  of $270  billion.  Atlanta's economy is considered diverse, with dominant sectors including logistics, professional and business services, media operations, and information technology. Topographically, Atlanta is marked by rolling hills and  dense tree coverage.  Revitalization  of Atlanta's neighborhoods, initially spurred by the  1996 Olympics, has intensified in the 21st century, altering the city's demographics, politics, and culture.

City Overview AREA OVERVIEW

Page 10: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

IHOP (International House of Pancakes) is a United States-based multinational restaurant chain that specializes in breakfast foods. It is owned by DineEquity, with 99% of the restaurants run by independent franchisees. While IHOP's focus is on breakfast foods such as pancakes, French toast, and omelets, it also offers a menu of lunch and dinner items. The company has 1,500 locations in the United States and Canada. In August 2012, it opened its first franchise in Dubai as part of a major expansion into the Middle East restaurant market. A second IHOP restaurant in the Middle East opened in Kuwait in February 2013.

TENANT PROFILE

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Page 11: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

LEASE SUMMARY

TENANT Eggs-Cellence, LLC dba. IHOP

PREMISES 2510 Flat Shoals Road,

Atlanta, GA 30349

LEASE COMMENCEMENT 9/1/2008

LEASE EXPIRATION 8/31/2028

LEASE TERM 20 Years

RENEWAL OPTIONS None

RENT INCREASES 9.1% 9/1/2016 9.1% 9/1/2018 7.6% 9/1/2023

LEASE TYPE NNN

USE Restaurant

PROPERTY TAXES Tenant’s Responsibility

INSURANCE Tenant’s Responsibility

COMMON AREA N/A

ROOF & STRUCTURE Tenant’s Responsibility

REPAIRS & MAINTENANCE Tenant’s Responsibility

HVAC Tenant’s Responsibility

UTILITIES Tenant’s Responsibility

LEASE ABSTRACT

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Page 12: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

SIZE MONTHLY RENT LEASE TERM

TENANT NAME SQUARE

FOOTAGE % OF

TOTAL

MONTHLY BASE RENT

RENT / SF

% OF TOTAL

INCREASE DATES

RENTAL INCREASE

LEASE BEGIN

LEASE END OPTIONS

Eggs-Cellence LLC dba. IHOP 4,131 100%

$18,150* + 10% Gross Sales past breakpoint

$4.39* 100% 9/1/2016 9/1/2018 9/1/2023

$18,150 $19,965 $21,615

9/1/2008 8/31/2028 None

RENT ROLL

Representative Image

*Rent is based on upcoming rental increase in 09/16. A rent credit will be provided to buyer.

Page 13: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group. This Offering Memorandum 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, 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 Offering Memorandum has been obtained from sources we believe to be reliable; however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group 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.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting this Memorandum you agree to release Sands Investment Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.

CONFIDENTIALITY AGREEEMENT

Page 14: OFFERING MEMORANDUM - jesse-lee.com Flat Shoals Rd... · TENANT Eggs-Cellence, LLC dba. IHOP PREMISES 2510 Flat Shoals Road, Atlanta, GA 30349 LEASE COMMENCEMENT 9/1/2008 LEASE EXPIRATION

Exclusively Marketed By:

844.4.SIG.NNN | F: 844.328.5905 | WWW.SIGNNN.COM | 2701 OCEAN PARK BLVD, SUITE 140 | SANTA MONICA, CA 90405

Luke Wakefield Lic. 361563 770.800.3035 | DIRECT [email protected]

Andrew Ackerman Lic. 345338 770.626.0445 | DIRECT [email protected]

Representative Image