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Burger King Is One of the First Food Options Located Strategically Near the Off-Ramps of I-35 • College Town – the Only Burger King in Emporia

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Burger King Is One of the First Food Options Located Strategically Near the Off-Ramps of I-35 • College Town – the Only Burger King in Emporia OFFERING MEMORANDUM 2725 W 18Th Ave | Emporia, KS 66801 [email protected] [email protected] DIR (310) 919-5827 DIR (310) 919-5828 MOB (714) 928-8016 MOB (951) 616-8918 LIC # 01911222 (CA) LIC # 01976724 (CA) Exclusively Listed By ROBERT VASILIAVITCHIOUS Gary chou Associate SVP & Senior Director [email protected] [email protected] DIR (949) 432-4517 DIR (310) 919-5827 MOB (224) 522-9064 MOB (714) 928-8016 LIC # 02071826 (CA) LIC # 01911222 (CA) Kyle Matthews Broker of Record LIC # #CO00002672 (KS) Investment Highlights • Tenant has continued paying full rent through Covid-19 and will not entertain an early lease extension at this time. Approximately 6 years remaining on the lease Established Store • Great Cash Flows – 8% increases every 5 years provide ideal hedge against inflation • True NNN Lease – Landlord has zero landlord responsibilities because the tenant takes care of insurance, real estate taxes, and maintenance year after year STRATEGICALLY LOCATED • Main Thoroughfare – Burger King is one of the first food options located strategically near the off-ramps of I-35 • College Town – The only Burger King in Emporia. Services Emporia State University and Flint-Hills college. Emporia High School, Emporia Middle School and Village Elementary School within close proximity • Major Industrial Area – Nearby tenants include Hostess Brands manufacturer, Coca-Cola Bottling, Tyson Fresh Meats Processing Facility, Department of Transportation, Better Life Technology, among others • Retail Corridor – National tenants include Walmart Supercenter, Walgreens, Dollar General, Tractor Supply, Taco Bell, IHOP, McDonald’s, and many more • Target Demographic – Average household incomes are $76,395 (1-Mile), $61,770 (3-Mile), and $63,764 (5-Mile) which is the ideal demographic for quick service restaurant concepts SEASONED OPERATOR OF A TIME-TESTED BRAND • Experienced Operator – Established in 1998, Genesh, Inc. is a Kansas-based franchisee operating 55+ restaurants in Kansas and Missouri • Iconic Brand – Burger King has over 18,000 units worldwide and has been one of the most successful burger chains in the world since 1954 3 EXECUTIVE SUMMARY FINANCIAL OVERVIEW Property Name Burger King 2725 W 18Th Ave Address Emporia, KS 66801 GLA ± 3,444 SF Land Area 22,651 SF LIST PRICE CAP RATE TERM REMAINING APN 193-08-0-10-04-005.00-0 $1,400,000 8.05% ± 5.9 Years Year Built 1986 ANNUALIZED OPERATING DATA TENANT SUMMARY Monthly Rent Annual Rent RPSF Cap Rate Lease Type NNN Present - 12/5/2020 $9,391.30 $112,695.60 $32.72 8.05% Type of Ownership Fee Simple 12/6/2020 - 12/6/2025 $10,142.60 $121,711 $35.34 8.69% Lease Guarantor Genesh Option 1: 12/7/2025 - 12/6/2030 $10,954.01 $131,448 $38.17 9.39% Roof and Structure Tenant Option 2: 12/7/2030 - 12/6/2035 $11,830.33 $141,964 $41.22 10.14% Original Lease Term 20 Years Option 3: 12/7/2035 - 12/6/2040 $12,776.76 $153,321 $44.52 10.95% Rent Commencement 12/6/05 Option 4: 12/7/2040 - 12/6/2045 $13,798.90 $165,587 $48.08 11.83% Lease Expiration 12/6/25 Term Remaining ±5.50 Years Increases 8.00% Options Four, (4) 5-Year NOI $112,695.60 4 5 Burger King Corporate Overview PARENT COMPANY TRADE NAME TENANT OVERVIEW Restaurant Brands International, Inc. Burger King Worldwide operates the world’s #2 hamburger chain by sales with ±18,000 restaurants in the US and more than 100 other countries. Every day, more than 11 million guests visit Burger King Restaurants around the world and they do so because Burger King is known for serving high-quality, great-tasting and affordable food. In addition to its popular Whopper sandwich, the chain offers a selection of burgers, chicken sandwiches, salads, and breakfast items, along with beverages, desserts, and sides. Burger King’s menu has expanded from a basic offerings of burgers, French fries, sodas, and milkshakes to a larger and more diverse set of products. Many of NO. OF LOCATIONS the eateries are stand-alone locations offering dine-in seating and drive-through services; the chain also includes ± 18,000 units in high-traffic locations such as airports and shopping malls. Burger King Worldwide is owned and operated by Restaurant Brands International. GEOGRAPHIC OUTREACH Burger King has restaurant locations throughout the US and more than 100 other countries. The US and Canada HEADQUARTERED are responsible for about 65% of revenues. Like most other giants of the fast-food industry, Burger King has expanded its nationwide and international presence primarily through franchising. But the company has reduced Miami, FL its domestic expansion efforts recently. Burger King has used joint ventures to expand in countries like China, Mexico, Russia, and Singapore. WEBSITE www.bk.com YEAR FOUNDED 1953 6 Parcel map 7 surrounding tenants 35 ± 18,360 VPD FLINTHILLS MALL INDUSTRIAL RD ± 10,500 VPD surrounding tenants SOUTH CAMPUS EMPORIA FIRE DEPARTMENT FLINTHILLS MALL INDUSTRIAL RD ± 10,500 VPD surrounding tenants EMPORIA MIDDLE SCHOOL SOUTH CAMPUS EMPORIA HIGH SCHOOL 4,600 STUDENTS 35 ± 18,360 VPD INDUSTRIAL RD ± 10,500 VPD FLINTHILLS MALL Area Overview Emporia, KS Emporia is a city in and the county seat of Lyon County, Kansas. Emporia lies between Topeka and Wichita at the intersection of U.S. Route 50 with Interstates 335 and 35 on the Kansas Turnpike. Emporia is also a college town, home to Emporia State University and Flint Hills Technical College. Emporia State University Emporia State University (ESU) is a public university in Emporia, Kansas. Established in March 1863 as the Kansas State Normal School, Emporia State is the third- oldest public university in the state of Kansas. Emporia State is one of six public universities governed by the Kansas Board of Regents. The university offers degrees in more than 80 courses of study through four colleges and/or schools: the School of Business, College of Liberal Arts and Sciences, School of Library and Information Management, and The Teachers College. Emporia State’s intercollegiate athletic teams are known as the Hornets. Emporia State competes in NCAA Division II and has been a member of the Mid-America Intercollegiate Athletics Association (MIAA) since 1991. AREA DEMOGRAPHICS POPULATION GROWTH 1-Mile 3-Mile 5-Mile 2025 Projection 6,492 23,278 26,556 2020 Estimate 6,362 23,157 26,432 ±98 MILES 2010 Census 6,144 23,286 26,610 HOUSEHOLDS 1-Mile 3-Mile 5-Mile 2025 Projection 2,705 9,442 10,720 2020 Estimate 2,643 9,332 10,603 2010 Census 2,525 9,196 10,466 HOUSEHOLDS 1-Mile 3-Mile 5-Mile 2025 Projection $76,395 $61,770 $63,764 8 Kansas City, KS Kansas City, Missouri lies on the western edge of Missouri. Among the 100 largest cities in the United States, it is the most centrally located in the lower 48 states. This central location makes it very competitive for employment involving transportation, communication, and distribution.Kansas City covers 319 square miles and is home to approximately 481,360 residents, making it the largest city in Missouri, both in area and in population. Its area is the 11th largest among United States cities that are not consolidated with counties. Its population is the 37th largest in the United States. Kansas City is a regional headquarters of the Federal Reserve Bank and contains the headquarters for Hallmark Cards, DST, Russell Stover Candies, Kansas City Southern Railway, H&R Block, Boulevard Brewing, and American Century Investments.Kansas City has the most freeway lanes per capita of any United States city. It is one of only six cities in the nation with four primary interstate highways within its City limits (I-70, I-35, I-29, and I-49).Kansas City is a large, prosperous, self- sufficient and culturally rich city located astride the Missouri River. The attractive downtown boasts museums and architectural attractions, including modern buildings and restorations of older sites such as the 1914 Union Station. More recently, a major urban redevelopment and renewal effort has taken hold, anchored by a new Federal Reserve and IRS complex expected to employ 7,000 and a new headquarters for financial services giant H&R Block, plus a new entertainment district. These developments and more renovations of attractive older buildings are adding life to the area, and there is also a significant push towards residential units in the city. CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of Burger King located at 2725 W 18Th Ave , Emporia, KS 66801 (“Property”). It has been prepared by Matthews Retail Advisors. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Retail Advisors. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum for the Property, you agree: 1.
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