Dairy Queen 1292 Bellefontaine St, Wapakoneta, OH
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OFFERING MEMORANDUM 1292 Bellefontaine St| Wapakoneta, OH AVERY BARRY WESLEY CONNOLLY, MBA Associate Senior Associate ™ [email protected] [email protected] DIR 949.873.0295 DIR 949.432.4512 MOB 949.769.1821 MOB 707.477.7185 LIC # 02036379 (CA) LIC # 01962332 (CA)
Kyle Matthews BROKER OF RECORD LIC # RC51700140
Investment Highlights
PROPERTY DETAILS • Tenant recently just personally invested approximately $400,000 in renovations to contents the site showing strong commitment to the location • Low Rent Per SF and a very healthy 6.80% rent to sales ratio
Financial OVERVIEW • Absolute NNN Lease – Tenant takes care of all responsibilities including property tax, 03 insurance, and property and building maintenance
LOCATION • Strategically located along main retail corridor with national QSR chains 05 Tenant OVERVIEW • Located directly in between a Lowe's and Walmart in the center of the town's activity • Wapakoneta was the birthplace of Neil Armstrong and the subject property is just down the street from the Armstrong Air & Space Museum 06 area OVERVIEW TENANT • American Dairy Queen Corporation is a subsidiary of Berkshire Hathaway inc • Dairy Queen has been providing customers with satisfying treats and food since 1940 • Dairy Queen has over 6,400 stores in more than 27 countries
™ Financial overview
Annualized Operating Data Monthly Rent Annual Rent Rent/SF Cap Rate Current- 4/22/2022 $4,000 $48,000 $21.39 5.85% Property Name Address 4/23/2022-4/22/2027 $4,200 $50,400 $22.45 6.14% Dairy Queen 1292 Bellefontaine St, 4/23/2027-4/22/2032 $4,400 $52,800 $23.52 6.43% Wapakoneta, OH 45895
Tenant Summary List Price Cap Rate Tenant Trade Name Dairy Queen $820,512 5.85% Type of Ownership Fee Simple Lease Type NNN Original Lease Term 20 Years Year Built Square Footage Rent Commencement Date 2/2/2012 Rent Expiration Date 2/2/2032 1994 ± 2,244 Term Remaining on Lease ± 14 Years Increases 10% Every 5 Years Options Four, 5-Year Options
Dairy Queen-Wapakoneta, OH | 3 ±38,000 ADT
Fenix
Aip Logistics Midwest Elastomers
AMETEK Every Day Koneta Plastics Technologies
±15,000 ADT Tenant overview
Dairy Queen Company Name American Dairy Queen Corporation A subsidiary of Berkshire Hathaway, Inc., American Dairy Queen Corporation Parent Company Trade Name Berkshire Hathaway (NYSE: BRK/B) is a leading franchisor of quick-service restaurants specializing in frozen treats, with more than 6,000 Dairy Queen outlets located throughout the No. of Locations ± 6,000 US. Along with ice cream, its menu also includes burgers, hot dogs, chicken, Headquartered Minneapolis, Minnesota salads, and sweet eats, including DQ cakes, pies, sundaes, cones, and Website www.dairyqueen.com Blizzard treats. Year Founded 1938 STRATEGY With a focus on efforts to update its menu, including the introduction of a value menu called Sweet Deals and the launch of such new products as the mini Blizzard, Dairy Queen works to maintain its iconic status among quick- service snack brands. American Dairy Queen Corporation has also begun investing in national advertising campaigns to promote the brand.
Operations American Dairy Queen Corporation is the franchising domestic arm of International Dairy Queen, which also franchises DQ Orange Julius outlets and Karmelkorn popcorn stands. International Dairy Queen has been able to expand and manage an extensive network of ice cream stores through franchising: Few Dairy Queen stores are company owned.
Dairy Queen-Wapakoneta, OH | 5 Area overview
Wapakoneta, OH Wapakoneta is a welcoming town an hour outside of Dayton, OH. Located in Auglaize County, Wapakoneta is located along the banks of the Auglaize River in West-Central Ohio. The city mainly operates as an industrial and commerce hub. The city became the center for shipping grain throughout the country and has been highly aggressive in drawing commerce to the area. There are nine industrial/commercial park sites within the area. With that, industrial tool and machine shops have also grown drastically within the town’s economy.
The downtown area is comprised of many specialty shops, both small and corporate. The area is currently under construction to develop new business offices and apartments. The residents are looking forward to developing their town into a great place to work and play. demographics
POPULATION 1 Mile 3 Mile 5 Mile HOUSEHOLDS 1 Mile 3 Mile 5 Mile 2023 Projection 3,265 11,858 14,097 2023 Projection 1,369 4,918 5,790 2018 Estimate 3,298 11,821 14,054 2018 Estimate 1,377 4,874 5,736 INCOME 1 Mile 3 Mile 5 Mile 2018 Est. Average $51,542 $66,774 $68,948 Household Income
6 | Matthews Real Estate Investment Services Dayton, OH Known as the “Gem City”, Dayton is located in Western Ohio, and is the sixth largest city in Ohio. The Dayton metropolitan area has approximately 841,000 residents. Dayton is the hometown of the Wright brothers, aviation pioneers who are credited with inventing and building the world’s first successful airplane. Dayton also plays a role in a nickname given to the state of Ohio – “Birthplace of Aviation”.
Downtown Dayton Downtown Dayton is a large area that encompasses several neighborhoods itself, and has seen a recent uplift and revival. There are many advantages of doing business in downtown. With more than 800 employers of varying sizes around the center city home. The companies in downtown Dayton don’t just do business they do business together. The downtown area of Dayton is for those who want to be connected to their customers, fellow collaborators, neighbors, entertainment and the community.
The city of Dayton has recently started the Downtown Dayton Partnership and it provides an extensive support network to help build establish and maintain business. Through the Site-seeker program, the DDP’s business development team offers assistance finding available office or retail space, at no cost. The city of Dayton offers incentives for businesses big and small that locate downtown.
Dairy Queen-Wapakoneta, OH | 7 Economy Dayton’s economy is relatively diversified and vital to the overall economy of the state of Ohio. Dayton was ranked by Site Selection magazine as the No. 1 medium-sized metropolitan area in the U.S. for economic development. Dayton is also among the top 100 metropolitan areas in both exports and export-related jobs, ranked 16 and 14 respectively by the Brookings Institution.
The Dayton area is a logistical centroid for manufacturers, suppliers, and shippers. Dayton also plays host to significant research and development in fields like industrial, aeronautical, and astronautical engineering that have led to many technological innovations. Much of this innovation is due in part to Wright-Patterson Air Force Base and its place within the community. Wright-Patterson Air Force Base is one of the largest air base wings in the Air Force. The installation generated a Total Economic Impact in the Dayton area of $4.67 billion in fiscal year 2011.
Higher Education
The Dayton area was ranked tenth for higher education among metropolitan areas in the United States by Forbes. The city is home to two major universities. The University of Dayton is a private, Catholic institution which is the only ABA approved law school in the Dayton area. It is Ohio’s largest private university and is home to the University of Dayton Research Institute, which ranks third in the nation for sponsored materials research. Dayton is also home to Sinclair Community College, the largest community college at a single location in Ohio and one of the nation’s largest community colleges. Sinclair is acclaimed as one of the country’s best community colleges. Dayton’s overall student population is about 50,000. This adds to the overall buying power of Dayton and the intelligent skilled workforce.
8 | Matthews Real Estate Investment Services Top County Employers
Employer # of Employees Premier Health Partners 14,135 Montgomery County 4,559 Sinclair Community College 2,726 Dayton Public Schools 1,519 Venice Regional Medical Center 871 PGT Industries 724 FCCI Insurance Group 680 City of Sarasota 619 Sun Hydraulics Corporation 590 City of North Port 530 Comcast Cablevision 529 Sunset Automotive Group 525
Tourism and Cultural Amenities Dayton is a fun weekend destination, featuring a diverse choice of museums, attractions, beautiful parks and a vibrant performing arts scene. Dayton offers a wealth of activities and aviation attractions. From an 800 year-old Native American village to the Boonshoft Museum of discovery. The Dayton Art Institute has a collection of historic aircraft at the National Museum of the US Air Force. Best things to do in Dayton, Ohio for families include the Boonshoft Museum of Discovery, the National Aviation Hall of Fame, SunWatch Indian Village and Aullwood Audubon Center.
Dairy Queen-Wapakoneta, OH | 9 CONFIDENTIALITY & DISCLAIMER STATEMENT
This Offering Memorandum contains select information pertaining to the business and affairs of Dairy Queen located at 1292 Bellefontaine St, Wapakoneta, OH 12550 (“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. The Offering Memorandum and its contents are confidential;
2. You will hold it and treat it in the strictest of confidence; and
3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.
Owner and Matthews Retail Advisors expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Retail Advisors or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. exclusively listed by Dairy Queen AVERY BARRY 1292 Bellefontaine St| Wapakoneta, OH Associate [email protected] DIR 949.873.0295 MOB 949.769.1821 LIC # 02036379 (CA)
WESLEY CONNOLLY, MBA Senior Associate [email protected] DIR 949.432.4512 MOB 707.477.7185 LIC # 01962332 (CA)
Kyle Matthews BROKER OF RECORD LIC # RC51700140
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