Offering Memorandum
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Offering Memorandum ARBY’S 3505 20TH AVENUE VALLEY, ALABAMA 36854 *REPRESENTATIVE IMAGE LISTING BROKER Lakin Parr [email protected] 864.421.4747 CONFIDENTIALITY STATEMENT The information contained herein is intended to give the reader ample information about the subject property. All information has been gathered from sources we deem to be reliable and credible; however, no warranty or guarantee, in any manner whatsoever, is intended or made as to its accuracy and none may be expressed, or implied by anything herein contained or made by agent of the principal relative to the subject property. The Financial Projections attached are for illustration purposes only. Such projections, which are forward- looking statements, are based upon assumptions which are deemed by the company to be reasonable. However, such assumptions are based upon facts and events over which the company will have no control. There is no assurance that actual events will correspond with the assumptions. Assumptions on which the financial projects are based should be carefully reviewed by each investor or his or her financial advisor. This submission is confidential. It is the property of Pintail Capital Partners, LLC, and any reproduction of any portion of the enclosed without written consent from an official representative of Pintail Capital Partners, LLC, is strictly prohibited. The information offered here is subject to prior placement and/or withdrawal from the market, cancellation, modification, correction, errors, omissions, price changes, or any other changes without notice. Please make arrangements with Pintail Capital Partners, LLC, prior to any property inspections. *REPRESENTATIVE IMAGES p. 2 PROPERTY OVERVIEW 3505 20TH AVENUE | VALLEY, AL 36854 PARCEL ID 18-03-06-3-000-046.002 BUILDING SIZE 3,067 SF LAND SIZE 0.90 AC PROPERTY TYPE QSR with drive-thru PARKING SPACES 44 TENANT Arby’s GUARANTORS Strong 22-unit franchisee EXISTING NOI $68,000 CAP RATE 5.6% SALES PRICE $1,214,285 KEY HIGHLIGHTS • Outparcel in a highly trafficked Wal-Mart Supercenter, conveniently located 0.9 miles off I-85 • ± 27,267 VPD (2018 Study) • Tenant recently spent $500,000 on interior and exterior renovations • Internet-proof and COVID-proof tenant • Tenant has not requested any rent abatement • Proof of all rental deposit receipts available to buyer during due diligence p. 3 SURROUNDING AREA 3505 20TH AVENUE | VALLEY, AL 36854 p. 4 Arby’s 3505 20TH AVENUE VALLEY, AL 36854 *REPRESENTATIVE IMAGE Located 31 MILES FROM COLUMBUS, GA 79 MILES FROM MONTGOMERY, AL 86 MILES FROM ATLANTA, GA 136 MILES FROM BIRMINGHAM, AL p. 5 LEASE SUMMARY TENANT Arby’s BASE RENT $5,659.50/month LEASE TYPE Absolute Net, Zero Landlord Responsibilities LEASE TERM 20 years (15 years remaining) RENT INCREASES 5% on 10th and 15th anniversaries of Commencement Date LEASE COMMENCEMENT 8/14/2015 LEASE EXPIRATION 8/13/2035 LANDLORD RESPONSIBILITIES None TENANT RESPONSIBILITIES Any and all repairs, maintenance, taxes, insurance and utilities FINANCIAL OVERVIEW % NOI CAP RATE ASKING PRICE $68,000 5.6% $1,214,285 p. 6 TENANT OVERVIEW Southern Hospitality Beef, LLC dba Arby’s Southern Hospitality Beef is a limited liability company in Georgia that owns and operates 22 Arby’s restaurants throughout the Southeast. Arby’s is the second-largest sandwich restaurant brand in the world with more than 3,400 restaurants in eight countries with $4.0B in system sales. Arby’s is owned by Inspire Brands, a global, multi-brand restaurant company that is home to five leading restaurant brands and more than 11,100 locations globally. Tenant website: www.arbys.com www.inspirebrands.com *REPRESENTATIVE IMAGE “THE ARBY’S BRAND PURPOSE IS INSPIRING SMILES THROUGH DELICIOUS EXPERIENCES®. ARBY’S DELIVERS ON ITS PURPOSE BY CELEBRATING THE ART OF MEATCRAFT® WITH A VARIETY OF HIGH-QUALITY PROTEINS AND INNOVATIVE, CRAVE-ABLE SIDES, SUCH AS CURLY FRIES AND JAMOCHA SHAKES. ARBY’S FAST CRAFTED® RESTAURANT SERVICES FEATURE A UNIQUE BLEND OF QUICK-SERVE SPEED COMBINED WITH THE QUALITY AND MADE-FOR-YOU CARE OF FAST CASUAL.” *REPRESENTATIVE IMAGE p. 7 TENANT OVERVIEW CONT. Inspire Brands is a multi-brand restaurant company whose portfolio includes more than 11,000 Arby’s, Buffalo Wild Wings, SONIC Drive-In, Rusty Taco, and Jimmy John’s restaurants worldwide. Inspire Brands is focused on creating a family of brands with maverick qualities, each with their own distinct positioning, guest experience, and product offering. Inspire is designed to enable each individual brand to benefit from and build off the strengths of the other. By sharing best practices and making deep investments in areas that create advantage for the entire enterprise, Inspire will help our brands grow and succeed. TOP 5 11,000+ 325,000+ Largest Restaurant Restaurants Across Company & Franchise Company in the U.S. 14 Countries Team Members $14.6B 1,400+ In System Sales Franchisees p. 8 DEMOGRAPHICS 1 mile 3 mile 5 mile 2,319 15,900 23,848 2019 POPULATION 2,464 6,778 8,042 DAYTIME EMPLOYMENT 1 mile 3 mile 5 mile 971 6,561 9,699 2019 HOUSEHOLDS $96,911 $98,619 $96,175 MEDIAN HOME VALUE 1 mile 3 mile 5 mile $57,205 $51,859 $52,873 AVERAGE HH INCOME $41,328 $36,283 $37543 MEDIAN HH INCOME $ p. 9 MARKET OVERVIEW star ATLANTA Valley, Alabama star MONTGOMERY Valley is a city in Chambers County which is strategically located between Montgomery and Atlanta, offering excellent access to those markets as well as Auburn, Alabama and Columbus, Georgia. It is within a one hour drive time to Hartsfield-Jackson Atlanta International Airport. Chambers County has attracted many new automotive suppliers with Kia Motors located less than ten miles away. Other prominent industries include forest products, warehousing and logistics, plastics, healthcare, telecommunications and building materials. Chambers County was recently named a “Top Deals and Hot Markets” by Southern Business and Development. Companies locating in Chambers County draw employees from a large area and offer an abundant selection of available sites and buildings. A highly skilled and dedicated workforce CONVENIENT LOCATION is another advantage, with 11 institutions of higher learning, including Auburn University, Souther ACCESS TO I-85, US Union State Community College, Point University and Columbus State University within a twenty- HWY 29, US HWY 431 & five mile radius. Chamber County is home to one of the top career technical centers in the State of US HWY 280 Alabama. Valley is included in the Greater Columbus Combined Statistical Area. Located 100 miles southwest of Atlanta, Columbus is the third largest city in Georgia and the fourth largest metropolitan area. Columbus has a population of more than 192,000 residents, with 303,000+ in the Columbus metropolitan area. The metro area joints the nearby Alabama cities of Auburn and Opelika to form the Columbus-Auburn-Opelika Combined Statistic Area, which had an estimated population of 499,128 in 2017. 303,000+ RESIDENTS COLUMBUS MSA Property Location POPULATION • Convenient access to I-85, US Hwy 29, US Hwy 431 and US Hwy 280 • Chambers County • Between Montgomery, AL (79 miles) and Atlanta, GA (86 miles) • Included in the Greater Columbus Combined Statistical Area with a population of 303,000+ 11 INSTITUTIONS • 11 Higher Education Institutions within a 25-mile radius OF HIGHER LEARNING • One hour drive time to Hartsfield-Jackson Atlanta International Airport WITHIN A 25-MILE • National Headquarters in Columbus include: Aflac, Carmike Cinemas, TSYS, Realtree, Synovus RADIUS and the W.C. Bradley Co. • Top employer in Columbus is Fort Benning with 41,462 employees p. 10 864.729.4500 | [email protected] PO BOX 9776 . GREENVILLE SC 29604 WWW.PINTAILCAPITALPARTNERS.COM Lakin Parr [email protected] 864.421.4747 Arby’s 3505 20TH AVENUE VALLEY, AL 36854 $ Sale Price $1,214,285 NOI $68,000 Cap Rate 5.6% *REPRESENTATIVE IMAGE.