YAKIMA, WASHINGTON Habit Burger HABIT BURGER INVESTMENT HIGHLIGHTS
■ NEW 15-YEAR BUILD-TO-SUIT LEASE.
■ HARD SIGNALIZED CORNER EXPOSED TO 29,000 VPD AND ADJACENT TO JAMBA JUICE, JIMMY JOHN’S AND US CELLULAR.
■ PAD TO FULLY REDEVELOPED RAINER SQUARE CENTER INCLUDING RED ROBIN, AT&T, HOME2 SUITES BY HILTON.
■ SURROUNDING NATIONAL TENANTS INCLUDE STARBUCKS, POPEYES LOUISIANA KITCHEN, SAFEWAY, RITE AID, WENDY’S, MOD PIZZA.
■ HABIT BURGER IS A SUBSIDIARY OF YUM BRANDS, A WELL-KNOWN RESTAURANT OPERATOR OVERSEEING 49,000 RESTAURANTS.
■ SINCE GOING PUBLIC IN 2014, HABIT BURGER HAS NEARLY TRIPLED ITS NUMBER OF LOCATIONS TO 275+ LOCATIONS IN 14 U.S. STATES AND 8 INTERNATIONAL LOCATIONS TOTAL.
REP PHOTO $3,600,000 4.35% PRICE CAP
LEASEABLE SF 3,130 SF
LAND AREA 33,291 SF
OCCUPANCY 100%
YEAR BUILT 2021
GRAND OPENING 4/21/2021
±33 Spaces; PARKING 10.8/1,000 SF
2400 W Nob Hill Blvd ADDRESS Yakima, WA 98902 HABIT BURGER 29,000 VPD W NOB HILL BLVD HABIT BURGER Within 5 Miles LOCATION OVERVIEW
2019 PARCEL LINE 119,457 POPULATION
W NOB HILL BLVD 2024 122,802 PROJECTED POPULATION DRIVE-THRU
AVERAGE $65,357 HOUSEHOLD INCOME S. 24TH AVE
MEDIAN $50,004 HOUSEHOLD INCOME
TOTAL 4,363 BUSINESSES
TOTAL 58,433 EMPLOYEES PAGE 5 Income & Expense
HABIT BURGER FINANCIAL SUMMARY
PRICE $3,600,000 CAPITALIZATION RATE 4.35%
CASH FLOW SUMMARY SCHEDULED INCOME PER SF Base Rent for the Period of: 7/1/2021 - 6/30/2022 $50.00 $156,500 Total Effective Gross Income (EGI) $50.00 $156,500
OPERATING EXPENSES PER SF CAMS NNN Property Taxes NNN Insurance NNN Total Operating Expenses NNN -
NET OPERATING INCOME $156,500
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
4/22/2021 [
HABIT BURGER RENT ROLL
The Habit Burger Grill
Lease Term: 4/21/2021 - 4/30/2036
Size (SF): 3,130
RENT SUMMARY
MONTHLY ANNUAL DATE % INCREASE PSF CAP RATE BASE RENT RENT
4/21/2021 $13,042 $156,500 $50.00 4.35% 5/1/2026 $14,346 10% $172,150 $55.00 4.78% 5/1/2031 $15,780 10% $189,365 $60.50 5.26%
OPTIONS 5/1/2036 $17,358 10% $208,302 $66.55 5.79% 5/1/2041 $19,094 10% $229,132 $73.21 6.36% 5/1/2046 $21,004 10% $252,045 $80.53 7.00% CURRENT $13,042 $156,500 $50.00 4.35%
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. PAGE 7
4/22/2021 [
Premise & Term
TENANT The Habit Restaurants, LLC LEASE TYPE NNN RENT COMMENCEMENT 4/21/2021 LEASE EXPIRATION 4/30/2036 TERM 15 Years OPTIONS/REQUIRED NOTICE 3, 5-Year; 180 Day Notice
Maintenance & Repair
TENANT’S OBLIGATIONS Tenant is responsible for the maintenance, repair, and replacement of all nonstructural and interior portions of the Premises, including HVAC, utilities, windows, and doors. Tenant shall also reimburse the Landlord for the maintenance and repair of the roof and sprinkler system. LANDLORD’S OBLIGATIONS Landlord is responsible for the repairs and replacement of the exterior walls, foundations, and structure of the Premises. Expenses
CAMS Tenant shall reimburse the Landlord for all CAM expenses, subject to a 5% annual CAM cap on controllable expenses. Controllable CAM expenses exclude taxes, insurance premiums, snow removal, and utility charges. 3RD PARTY MANAGEMENT/ADMIN FEE Tenant shall pay an administration fee not to exceed 5% of the CAM charges, taxes, and insurance.
UTILITIES Tenant is responsible for paying all utilities directly to the billing authority.
TAXES Tenant is responsible for reimbursing the taxes on the property to the Landlord.
INSURANCE Tenant shall maintain liability insurance for the duration of the term. Tenant shall also reimburse Landlord for all comprehensive and specialty insurance on the property.
Lease Provisions
EXCLUSIVE USE Landlord shall not enter any lease with an operator or tenant on the Premises where hamburger sales exceed ten percent (10%) of total gross sales. PROHIBITED USES The Shopping Center prevents the following uses on the Premises: fast-casual restaurants, coffee shops, sandwich shops, wireless communication retailers, nail salons, hair salons, barbeque restaurants, pizza restaurants, and restaurants that primarily specialize in the sale of chicken.PAGE 9 SEAN MACK [email protected] PH: 503.675.8378
SEAN TUFTS [email protected] PH: 206.693.3352
Our brokers collaborate.
KEVIN ADATTO LANCE SASSER
SEAN TUFTS PETER DUNN
MICHAEL HORWITZ MICHAEL LOWES CAPITALPACIFIC.COM SCOTT FRANK MAGGIE WOLK Copyright © 2021 Capital Pacific LLC
The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, SEAN MACK AUSTIN COHN expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC. DAVID GELLNER MEET THE ENTIRE TEAM HERE.