V2 Taco Bell Lees Summit MO

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V2 Taco Bell Lees Summit MO Offering Memorandum BRANDNEW NEW 20 YEARCONSTRUCTION NNN LEASE CLICK HERE NEW PROTOTYPE / UPGRADED CONSTRUCTION FOR DRONE FOOTAGE Taco Bell 3225 SW Third Street Lee’s Summit, MO 64081 Representative Photo INVESTMENT ADVISORS Lead Advisor Jeff Christian Managing Director | First Street, Inc. Office: (707) 938-9600 x102 Lic. 01461046 jchristian@firststreetco.com Ryan Morita Vice President | First Street, Inc. Office: (707) 217-2243 Lic. 01909453 ryan@firststreetco.com Max DiCarlo Director of Real Estate & Development Midwest | First Street Development Office: (816 ) 807-7934 max@firststreetdev.com First Street, Inc. Corporate Office 465 First Street West, 2nd Floor Sonoma, CA 95476 Main: (707) 938-9600 Fax: (707) 938-9616 Debt & Structured Finance Andrew Mekjavich Vice President | Newmark Realty Capital Office: (415) 985-1811 Lic. 01926750 [email protected] Representative Photo 02 FUTURE DEVELOPMENT PARCEL TABLE OF CONTENTS 04 Investment Summary 05 Location and Demographics 06 Aerial Maps Build-To-Suit Development 08 Area Map 09 Drawing & Site Plan 03 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 INVESTMENT SUMMARY PROPERTY OVERVIEW FINANCIAL OVERVIEW Property Name: Taco Bell | Lee’s Summit List Price: $2,780,730 Address: 3225 SW Third Street, Lee’s Summit, MO 64081 Annual Rent (Initial): $139,036 Map Link: Click Here Cap Rate (Year-1): 5.00% Year Built (Remodeled): 2019 (Under Construction) Blended Annual Income Over Life of Lease $184,860 Building GLA: 2,000 SF Return on Blended Yield 6.65% Lot Size: 23,225 SF LEASE OVERVIEW RENT SCHEDULE Tenant: Royal City Bell, LLC (dba Taco Bell) Years Annual Rent Return Guarantor: Royal City Bell, LLC (+/- 55 Unit Operator) 1-5 $139,036 5.00% Lease Type: Absolute NNN 6-10 $150,159 5.40% Lease Commencement (Est.): December 19, 2018 11-15 $162,142 5.83% Rent commencement date (est.): July 1, 2019 16-20 $175,146 6.30% Lease Term: 20 Years 21-25 (Option 1) $189,158 6.80% Extension Options: (4) 5-Year 26-30 (Option 2) $204,490 7.35% Rental Escalations: 8% Every 5 Years 31-35 (Option 3) $220,633 7.93% TENANT OVERVIEW 36-40 (Option 4) $238,284 8.57% Tenant: Royal City Bell, LLC INVESTMENT HIGHLIGHTS Kansas City, MO Headquarters: Pad site of New Longview Development : A recently constructed mixed use project including single family homes, apartments, senior living, memory RCB (lease guarantor) operates approx. 55 locations throughout the Kansas care, retail, office, and a brand new B&B movie theatre. and Missouri, within the Kansas City MSA. RCB is an independently Area Amenities: NWC of 3rd & View High – Fred Arbanas golf course – operated entity affiliated with Diversified Restaurant Group – one of the approximately 60,000 rounds per year. SWC of 3rd and View High – Metropolitan Community College – Longview Campus – approximately largest Taco Bell Franchisees in the Country with over 200 units. 5,000 students. Less than .25 miles from Longview Lake. Very High Growth Area: Significant amount of single-family and Representative multi-family development projects either underway or completed. 04 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 LEE’S SUMMIT | MISSOURI KANSAS CITY MSA (pop. 459,787) Kansas City is the largest city in the U.S. state of Missouri. According to the U.S. Census Bureau, the city had an estimated population of 488,943 in 2017, making it the 37th most-populous city in the United States. It is the central city of the Kansas City metropolitan area, which straddles the Kansas–Missouri state line. Since the beginning of the 21st century, Kansas City has undergone extensive redevelopment, with over $6 billion in improvements to the downtown area From 2007 to 2017, downtown residential population in Kansas City quadrupled and continues to grow. The downtown area has grown from almost 4,000 residents in the early 2000s to nearly 30,000 as of 2017. Kansas City's downtown ranks as the 6th-fastest growing downtown in America with the population expected to grow by over 40% by 2022. Area Highlights Include: - Just 27 minutes to downtown Kansas City - Short 1 hour flight to St. Louis to the East - 55 minutes from the University of Kansas (home to over 28,000 students) - 16 miles from Country Club Plaza - 3 miles from Summit Woods Crossing/Summit Fair Shopping Center Lee’s Summit offered the promise of a better life as the city enjoys growth in a variety of Founded in 1865, Lee’s Summit offered settlers the promise of a industries including advanced technology, data center, medical services and advanced manufacturing. Although business and industry is moving at a rapid pace in Lee’s Summit. better life. It’s a tradition that continues as the city enjoys growth. DEMOGRAPHICS OVERVIEW DISTANCE FROM PROPERTY 2018 Summary 1 Mile 3 Miles 5 Miles DOWNTOWN KC INTERNATIONAL UNIVERSITY OF KANSAS Population: 36,830 156,144 267,715 KANSAS CITY AIRPORT 50 Miles 19 Miles 39 Miles Total Households: 12,612 53,104 89,343 Total Consumer Spending (000’s): $428,042 $1,948,356 $3,319,970 Median Household Income: $102,031 $114,106 $114,697 Average Household Income: $125,502 $139,377 $138,849 05 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 LEE’S SUMMIT SUB-MARKET RETAIL LANDSCAPE Interstate 470 Summit Fair 51 SENIOR LIVING VILLAS Under Contract 310 LUXURY APARTMENTS Sold & Under Construction VILLAGE AT VIEW HIGH 35 Acre Mixed-Use Site Highway 350 WINTERSET COMMUNITIES Six Growing Communities Winterset Park - 520 Homes Winterset Garden - 57 Homes FRED ARBANAS Winterset Summit - 45 Homes GOLF COURSE Winterset Valley - 205+ Homes Winterset Woods - 86 Homes Winterset Falls - 100+ Homes (2021) Subject Property Southwest 3rd Street KESSLER RIDGE BRIDLEWOOD AT LONGVIEW 110 Single Family Homes 360 Home Community UNDER DEVELOPMENT 200 Unit Apartment Community 06 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 3RD STREET SOUTHWEST WINTERSET VALLEY VILLAGE AT VIEW HIGH 250+ Home Developing Community FRED ARBANAS GOLF COURSE 25 Acre Mixed-Use Site Southwest 3rd Street ST. LOUIS (19 MILES) Subject Property Southwest Longview Boulevard UNDER DEVELOPMENT 200 Unit Apartment Community BRIDLEWOOD AT LONGVIEW 360 Home Community NEW LONGVIEW APARTMENTS THE RESIDENCES AT NEW LONGVIEW APARTMENTS KESSLER RIDGE 110 Single Family Homes Southwest Longview Road LONGVIEW FARM ELEMENTARY 07 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 KANSAS CITY AREA Liberty Gladstone North Kansas City Kansas City Independence Bonner Springs Raytown Blue Springs Lawrence De Soto Overland Park Unity Village Eudora Lee’s Summit Olathe Subject Property 08 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 BUILT-TO-SUIT DEVELOPMENT 09 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 BUILT-TO-SUIT DEVELOPMENT 10 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 BUILT-TO-SUIT DEVELOPMENT 3RD STREET SW KESSLER DRIVE SW 11 Taco Bell | 3225 SW 3rd St, Lee's Summit, MO 64081 NON-DISCLOSURE AND CONFIDENTIAL OFFERING The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. 12 INVESTMENT ADVISORS Lead Advisor Jeff Christian Managing Director | First Street, Inc. Office: (707) 938-9600 x102 Lic. 01461046 jchristian@firststreetco.com Ryan Morita Vice President | First Street, Inc. Office: (707) 217-2243 Lic. 01909453 ryan@firststreetco.com Max DiCarlo Director of Real Estate & Development Midwest | First Street Development Office: (816 ) 807-7934 max@firststreetdev.com First Street, Inc. Corporate Office 465 First Street West, 2nd Floor Sonoma, CA 95476 Main: (707) 938-9600 Fax: (707) 938-9616 Debt & Structured Finance Andrew Mekjavich Vice President | Newmark Realty Capital Office: (415) 985-1811 Lic. 01926750 [email protected] Representative Photo 23.
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