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Rally's 401 Kentucky Drive, Kokomo, Indiana

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Rally's 401 Kentucky Drive, Kokomo, Indiana OFFERING MEMORANDUM ABSOLUTE NNN | $1,703,680 RALLY'S 401 KENTUCKY DRIVE, KOKOMO, INDIANA Click Here to Play Drone Video Rally's CONTENTS 01 Executive Summary Executive Summary 5 Tenant Summary 6 Property Images 7 02 Demographics Demographics 9 Demographic Charts 10 Exclusively Marketed by: Sean Stephenson Steven Davis Michael Havdala Senior Associate Managing Member Broker of Record 480-429-4580 480-429-4580 License # RB14045475 License # 672380000 License # 101032000 HSA Commercial Real Estate [email protected] [email protected] 8255 East Raintree Drive Suite 100 Scottsdale, AZ 85260 We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. Rally's Confidentiality and Disclaimer | 03 CONFIDENTIALITY AND DISCLAIMER: 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 Retail Investment Group and it should not be made available to any other person or entity without the written consent of Retail Investment Group. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Retail Investment Group. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. Retail Investment Group 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 of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or 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 reliable; however, Retail Investment Group has not verified, and will not verify, any of the information contained herein, nor has Retail 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT RETAIL INVESTMENT GROUP FOR MORE DETAILS. Rally's | Executive Summary 01 Executive Summary Offering Summary RALLY'S Location Summary ................................................ Rally's Executive Summary | 05 OFFERING SUMMARY Checkers - Corporate Guarantee Lease ADDRESS 401 Kentucky Drive Kokomo IN Oversized Lot with Frontage along Highway 31 46902 COUNTY Howard 42,300+ VPD along Highway 31, a six-lane highway and a primary thoroughfare for the City of Kokomo LEASE TYPE Absolute NNN Located in the same plaza as Courtyard Marriott, CAP RATE 8.20% Speedway, Pizza Hut, and Dollar General BUILDING SQUARE FEET ±1,000 Additional Sign Income - Base Rent: 131,769 Plus LAND SQUARE FEET/ACRES ±41,862/ 0.96 Marriott Signage Lease: $7,986 Annual Rent YEAR BUILT 2008 Offered for sale is a Rally's location in Kokomo, Indiana. The TENANT Rallys property is ±1,000 square feet and sits on ±41,862 square feet of land. The property is located at the corner of Kentucky Drive and OWNERSHIP TYPE Fee Simple Highway 31. PARCEL NUMBER 34-10-18-353-011.000-015 The property is surrounded by numerous retailers including LEASE EXPIRATION August 30,2023 Courtyard by Marriot, Pizza Hut Speedway, Dollar General, IHOP, LEASE OPTIONS 2 X 5 Year Options Golden Corral, Lowe's Home Improvement, Culver's, Cracker Barrel Old Country Store, Texas Roadhouse, Ashley Home Store, INCREASES 10% Increases Each Option Burger King, Scoops Ice Cream, Arby's, Subway, and Olive Garden Italian. Located only ±1 Mile to Community Howard Regional Health with FINANCIAL SUMMARY 1,280+ staff. Only ±2 Miles to Indiana University Kokomo with $1,703,680 4,000+ Students and Staff. Only 2 Miles from the Chrysler OFFERING PRICE Transmission Plant which has ±3,583 employees. PRICE PSF $1,703.68 About Kokomo, Indiana: OCCUPANCY 100 % RALLYS RENT $131,769 The City of Kokomo, Indiana is the county seat of Howard County, Indiana. Kokomo is a large manufacturing town with SIGN RENT $7,986/ Annually major employers such as FCA US, LLC (Fiat Chrysler $139,755 Automobiles), Kokomo Transmission Plant (3,500+ employees), COMBINED RENT Kokomo Casting Plant(1,200+ employees), Indiana Transmission Plant I & II (2,400+ employees), Aptiv, Delphi Technologies, GM Components Holdings LLC, Haynes International, Holder DEMOGRAPHICS 1 MILE 3 MILE 5 MILE Mattress, Syndicate Sales, and Coca-Cola Bottling Plant. 2017 Population 7,661 32,145 62,966 Nearby Colleges & Universities include Howard College, Indiana 2017 Median HH Income $47,551 $50,224 $46,777 University Kokomo, Indiana Wesleyan University, Ivy Tech Community College, and Purdue University College of 2017 Average HH Income $58,577 $64,957 $61,991 Technology. New Development: The City of Kokomo and the Dora Hotel Company announced the construction of a hotel and conference center in downtown. The Hilton Garden Inn will be six-stories with 123 room. The hotel will be connected to a new 22,000 square foot conference center. The conference center will also be the new home to the Kokomo Automotive Museum. The museum will take up the basement space of the conference center. Rally's Tenant Profile | 06 Trade Name Rally's Headquartered Tampa, FL Website https://rallys.com/ # of Locations 870+ Description As one of the country’s most recognized brands, Checkers & Rally's is an industry leader with over 30 years of experience and more than 870 restaurants. Our guests' love for our bold flavored and seared burgers, indulgent milkshakes, and Famous Seasoned Fries is driving us to expand in new cities and develop in existing markets across the country. We continue to accelerate with unprecedented growth. Our multi-unit franchisees achieve their financial and growth goals faster with us because of our low Initial Investment, strong return on investment, nimble modular building construction, and competitive franchise growth incentives. Because we put our franchisees first, you can enjoy a business made to last. Rally's Property Images | 07 Rally's | Demographics 02 Demographics Demographic Details RALLY'S Demographic Charts ................................................ Rally's Demographics | 09 POPULATION 1 MILE 3 MILE 5 MILE HOUSEHOLDS 1 MILE 3 MILE 5 MILE 2000 Population 7,063 31,154 63,620 2000 Total Housing 3,136 14,542 29,046 2010 Population 7,477 31,675 61,829 2010 Total Households 3,142 13,836 26,148 2017 Population 7,661 32,145 62,966 2017 Total Households 3,209 14,007 26,601 2022 Population 7,704 32,327 63,753 2022 Total Households 3,225 14,088 26,921 2017 African American 617 2,556 5,848 2017 Average Household Size 2.38 2.29 2.32 2017 American Indian 34 123 259 2000 Owner Occupied Housing 1,868 8,920 18,085 2017 Asian 147 654 929 2000 Renter Occupied Housing 1,034 4,581 8,619 2017 Hispanic 348 1,259 2,505 2017 Owner Occupied Housing 1,928 8,742 17,117 2017 White 6,482 27,342 52,868 2017 Renter Occupied Housing 1,281 5,264 9,485 2017 Other Race 89 344 786 2017 Vacant Housing 290 1,561 3,725 2017 Multiracial 291 1,115 2,264 2017 Total Housing 3,499 15,568 30,326 2017-2022: Population: Growth Rate 0.55 % 0.55 % 1.25 % 2022 Owner Occupied Housing 1,953 8,845 17,307 2022 Renter Occupied Housing 1,273 5,243 9,614 2017 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE 2022 Vacant Housing 279 1,550 3,768 less than $15,000 450 1,843 3,634 2022 Total Housing 3,504 15,638 30,689 $15,000-$24,999 389 1,535 3,207 2017-2022: Households: Growth Rate 0.50 % 0.60 % 1.20 % $25,000-$34,999 338 1,503 3,161 $35,000-$49,999 489 2,082 3,959 $50,000-$74,999 742 2,844 5,043 $75,000-$99,999 394 1,820 3,318 $100,000-$149,999 239 1,448 2,766 $150,000-$199,999 121 559 929 $200,000 or greater 48 372 585 Median HH Income $47,551 $50,224 $46,777 Average HH Income $58,577 $64,957 $61,991 Source: esri Rally's Demographic Charts | 10 2017 Household Income 1 Mile Radius 3 Mile Radius 5 Mile Radius 2017 Population by Race 1 Mile Radius 3 Mile Radius 5 Mile Radius Rally's Exclusively Marketed by: Sean Stephenson Steven Davis Michael Havdala Senior Associate Managing Member Broker of Record 480-429-4580 480-429-4580 License # RB14045475 License # 672380000 License # 101032000 HSA Commercial Real Estate [email protected] [email protected] 8255 East Raintree Drive Suite 100, Scottsdale, AZ 85260.
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