Arby's Restaurant #981
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Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions Property Photo SINGLE TENANT RETAIL INVESTMENT OFFERING • 15 YEARS OF PRIMARY TERM REMAINING • ABSOLUTE NET - NO LANDLORD OBLIGATIONS • NEWLY CONSTRUCTED BUILDING IN 2015 • 42 YEAR HISTORICAL OCCUPANCY • TENANT - RTM OPERATES 780 LOCATIONS • HOME OF WESTERN KENTUCKY UNIVERSITY The Silver Group Barry Silver Greg Cunha 1050 Northgate Drive #500 Email: [email protected] Email: [email protected] Phone: (415) 461 - 0600 Phone: (415) 461 - 0600 San Rafael, CA 94903 www.thesilver-group.com Property Photo - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions Investment Summary - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions The subject property is a single tenant Purchase Price: $1,760,000 Arby’s restaurant located in Elizabethtown, Kentucky. Elizabethtown is located 45 miles Initial Cap Rate: 5.0% south of Louisville. The Property consists of a freestanding ± 3,328 sf retail building, Lease Terms: with drive-through window, on ± 0.75 acres of land at 527 West Dixie Avenue (aka Highway • Fifteen (15) Year Primary Term Remaining 31W). The building was constructed in 2015 • Absolute Net - No Landlord obligations following a fire that damaged the building. Arby’s had the right to terminate • Fixed 10% rent increase every 5 years the lease, but instead chose to rebuild and enter into a new 20 year, absolute net lease. Our tenant is RTM Operating Company, LLC, who is the largest • Two x 5 year renewal options Arby’s franchisee with 780 locations. Dixie Avenue is a major commercial artery through town. Nearby traffic generators include Walgreens Drugstore, Annual Rent Schedule: Rite Aid, Big Lots!, Discount Tire, O’Reilly Auto, Dollar General, Sherwin Williams, Big Lots, Magnolia Bank, McDonald’s, KFC, Sonic Drive-In, $80,000 Years 1 - 5 Rally’s and Taco Bell. Other national retailers in this market include Walmart $88,000 Years 6 - 10 (+10%) * June 2020 Supercenter, Sam’s Club, Target, Home Depot, Lowe’s Home Improvement, Kohl’s, Best Buy, Academy Sports, TJ Maxx and at Home. Elizabethtown $96,800 Years 11 - 15 (+10%) is home to Western Kentucky University, Hardin Memorial Hospital and $106,480 Years 16 - 20 (+10%) the Performing Arts Center and is the shopping and cultural hub for the surrounding Elizabethtown - Ft. Knox MSA. Option Rent Schedule: $117,128 Option 1 (+10%) Land Area: ± 0.748 Ac. (± 35,591 SF) $128,841 Option 2 (+10%) Building Area: ± 3,328 SF w/drive-thru Rent Start Date: June 15, 2015 Population: 112,685 5 miles Average HH Income: $61,705 5 miles The information contained herein has been received from sources we believe to be reliable, but we have made no independent investigation of the accuracy or completeness and make no representation thereto. The above is subject to errors, omissions, or withdrawal from the market. Aerial View - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions Site Plan - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions Arby’s #981 527 Highway 31W Elizabethtown, KY Street Map - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions View to North - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions ± 21,400 vpd Regional Aerial - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions Drive Distances - Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions ± 140 miles ± 280 miles ± 45 miles ± 85 miles ± 170 miles ± 80 miles Arby’s Restaurant #981 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions ABOUT THE TENANT ABOUT THE AREA RTM Operating Company, LLC Operator of 780 Arby’s Restaurants Acquired all Arby’s company owned restaurants Atlanta Georgia based RTM Operating Company, LLC is the largest operator of Arby’s restaurants with more than 780 Elizabethtown, Kentucky is the county seat of Hardin County franchised stores. In addition, and the principal city of the Elizabethtown - Fort Knox MSA. RTM has a financial interest in 275 The City of Elizabethtown has an official population of 29,000 Mrs. Winners Chicken & Biscuits and Lee’s Famous Recipe residents, but the average daytime population doubles due restaurants. RTM stands for Results Through Motivation, an to the regional attraction as a place to work, shop, dine acronym from Russ Umphenour who founded the company and entertain. Situated at the crossroads of major highways in 1983. In 1997, RTM acquired all Arby’s company-owned including Interstate 65, Elizabethtown is conveniently within a restaurants when Arby’s transitioned to a franchise model. day’s drive of two-thirds of the U.S. population. Elizabethtown is about 15 miles south of Fort Knox. Interstate 65 passes Arby’s, founded in 1964, is the second largest sandwich through the eastern side of the city, leading north-northeast restaurant brand in the world with more than 3,300 45 miles to Louisville and southwest 71 miles to Bowling restaurants in 8 countires. Arby’s is now part of Inspire Green. It is notable as one of two larger towns (the other being Brands family of restaurants. Arby’s Restaurant Group, Inc. Bowling Green) along I-65 between Louisville and Nashville. is the franchisor of the Arby’s brand. Elizabethtown is home to Western Kentucky University, Elizabethtown Community College and Hardin Regional Inspire Brands consists of Arby’s, Buffalo Wild Wings, Sonic Hospital. Some of the larger employers include Metalsa (1,900 Drive-In, Rusty Taco and Jimmy John’s. employees), Akebono Brake (1,600), AGC Automotive (700), Altec Industries (700) and iPay Solutions (330). Demographics - Arby’s Restaurant #981 Site Selection February 11, 2020 527 West Dixie Ave Elizabethtown, Kentucky 42701 Single Tenant Solutions Demographic Snapshot Comparison Report for Arbys Restaurant #981, 527 W Dixie Ave, Elizabethtown, KY, 42701: 1 mile(s) 3 mile(s) 5 mile(s) Population: 2019 Total Population 8,400 29,099 44,686 Female Population 53.65% 52.62% 51.55% Male Population 46.35% 47.38% 48.45% Population Density 2,671 1,028 568 Population Median Age 39.2 37.9 38.9 Employed Civilian Population 16+ 4,507 14,987 23,208 % White Collar 63.6% 63.1% 63.1% % Blue Collar 36.4% 36.9% 36.9% Total Q3 2019 Employees 6,950 21,678 27,991 Total Q3 2019 Establishments* 532 1,591 1,996 Population Growth 2000-2010 11.72% 21.48% 23.36% Population Growth 2019-2024 1.32% 4.08% 6.04% Income: 2019 Average Household Income $63,319 $67,778 $71,674 Median Household Income $42,487 $49,625 $55,980 Per Capita Income $28,705 $27,604 $28,593 Avg Income Growth 2000-2010 13.75% 19.51% 23.07% Avg Income Growth 2019-2024 13.71% 12.63% 12.34% Households: 2019 Households 3,803 11,789 17,671 Average Household Size 2.24 2.39 2.49 Hhld Growth 2000-2010 10.27% 22.12% 24.26% Hhld Growth 2019-2024 2.06% 4.58% 6.73% Housing Units: 2019 Occupied Units 3,803 11,789 17,671 % Occupied Units 87.95% 89.34% 88.94% % Vacant Housing Units 12.05% 10.66% 11.06% Owner Occ Housing Growth 2000-2010 -3.15% 5.29% 12.80% Owner Occ Housing Growth 2000-2024 -10.43% 5.97% 22.65% Owner Occ Housing Growth 2019-2024 1.37% 4.52% 7.19% Occ Housing Growth 2000-2010 10.27% 22.12% 24.26% Occ Housing Growth 2010-2024 0.84% 7.03% 12.54% Occ Housing Growth 2019-2024 2.06% 4.58% 6.73% Race and Ethnicity: 2019 % American Indian or Alaska Native Population 0.25% 0.29% 0.30% % Asian Population 2.45% 2.77% 2.40% © 2020 Alteryx, Inc. 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