ABSOLUTE NNN SALE-LEASEBACK New 15-Year Investment Opportunity
3933 ARKWRIGHT ROAD MACON GEORGIA ACTUAL SITE EXCLUSIVELY MARKETED BY
Broker of Record: Ray Uttenhove | GA License #104166
PATRICK NUTT SHEREE STROME, CCIM MICHAEL BERK EVP, NNLG & Market Leader First Vice President Senior Associate SRS Real Estate Partners SRS National Net Lease Group SRS National Net Lease Group
200 SW First Avenue, Suite 970 3445 Peachtree Road NE, Suite 950 3445 Peachtree Rd NE, Suite 950 Fort Lauderdale, FL 33301 Atlanta, GA 30326 Atlanta, GA 30326 D 954.302.7365 | M 703.434.2599 D 770.617.2149 D 770.402.3432 [email protected] [email protected] [email protected] FL License No. BK3120739 GA License No. 341202 GA License No. 385824
2 NATIONAL NET LEASE GROUP 3 NATIONAL NET LEASE GROUP OFFERING SUMMARY Offering ASKING PRICE $3,181,818
CAP RATE 5.50%
NET OPERATING INCOME $175,000
Property Specifications
PROPERTY ADDRESS 3933 Arkwright Road Macon, GA 31210
RENTABLE AREA 8,177 SF
LAND AREA 1.67 Acres
YEAR BUILT 1997
OWNERSHIP Fee Simple
TENANT Glory Days Grill
GUARANTY Franchisee (All FL 15+ Units)
LEASE TYPE Absolute NNN
LANDLORD RESPONSIBILITIES None
LEASE TERM REMAINING 15 Years
INCREASES $12,000 Every 5 Years
RENT COMMENCEMENT Close of Escrow (Sale-Leaseback) PYLON SIGN LEASE EXPIRATION 15 Years from Close of Escrow Parcel Map
4 ACTUAL SITE NATIONAL NET LEASE GROUP For financing options and loan quotes: RENT ROLL & INVESTMENT HIGHLIGHTS Please contact our SRS Debt & Equity team at [email protected].
Lease Term Rental Rates TENANT NAME SF LEASE START LEASE END BEGIN INCREASE MONTHLY ANNUALLY OPTIONS Glory Days Grill 8,177 COE 15 Years Year 1 - $14,583 $175,000 TBD (Corporate Sale-Leaseback) Year 6 12,000 $15,583 $187,000 Year 11 12,000 $16,583 $199,000 Brand New 15-Year Sale-Leaseback | Franchisee Guaranteed Lease | Scheduled Rental Increases Every 5 Years • Glory Days Grill largest franchisee guaranteed lease (all 15+ Florida locations) • New 15-year lease which begins at the close of escrow (sale leaseback) • Attractive $12,000 rental increases every 5 years throughout the initial term Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities • Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises • No landlord responsibilities • Ideal, management-free investment for a passive investor Just off Interstate 75 | Hospitality Corridor | Nearby National Tenants • The subject property is located directly off Interstate 75 (54,700 VPD) with direct on/off ramp access making the property easily accessible • Fronting Arkwright Road with over 22,000 vehicles passing by daily • Asset is surrounded by national/credit hotels including Fairfield Inn, Courtyard Marriott, Residence Inn, Comfort Inn, Holiday Inn, and more • Across from a prominent retail thoroughfare that includes North Park shopping center and Rivergate shopping center which is anchored by Publix, Kroger, Planet Fitness, Dollar Tree, and more • Strong tenant synergy promotes crossover shopping to the subject property Strong Demographics In 5-mile Trade Area • More than 54,500 residents and 27,900 employees support the trade area • $82,000 average household income
5 ACTUAL SITE NATIONAL NET LEASE GROUP BRAND PROFILE
Glory Days Grill | glorydaysgrill.com
Glory Days Grill is a sports themed family-friendly American grill and bar that combines an award-winning menu of freshly prepared appetizers, entrees and sandwiches with entertainment that appeals to all ages. Each restaurant has an abundance of televisions to watch the big game, news, cartoons or just about anything that’s worth watching, along with the latest interactive games. Glory Days Grill offers a full bar, to go services, catering and banquet/party facilities. Many locations have private rooms and patios available for parties and events. Many locations have private banquet facilities and all feature catering services. With 21 company-owned restaurants and 17 franchised restaurants, Glory Days Grill has grown to 38 restaurants in 5 states with more on the horizon.
COMPANY TYPE LOCATIONS STATES Private 38 5
6 NATIONAL NET LEASE GROUP PROPERTY OVERVIEW
Location Access Traffic Counts Improvements Located in Arkwright Road Arkwright Road There is approximately 8,177 SF Macon, GA 2 Access Points 22,200 Cars Per Day of existing building area Bibb County Interstate 75 54,700 Cars Per Day
Parking Parcel Year Built Zoning There are approximately Parcel Number: N041-0053 1997 Commercial 142 parking spaces on the owned parcel. Acres: 1.67
The parking ratio is Square Feet: 72,745 SF approximately 17.36 stalls per 1,000 SF of leasable area.
7 NATIONAL NET LEASE GROUP ELEVATION
8 ACTUAL SITE NATIONAL NET LEASE GROUP LOCATION MAP
ATLANTA 80 miles
AUGUSTA 130 miles
MACON
2019 ESTIMATED POPULATION 1 Mile 2,977 COLUMBUS 3 Mile 23,307 100 miles 5 Mile 54,681 2019 AVERAGE HOUSEHOLD INCOME 1 Mile $57,896 3 Mile $89,017 5 Mile $82,332 2019 ESTIMATED TOTAL EMPLOYEES 1 Mile 3,777 3 Mile 14,767 5 Mile 27,961
9 NATIONAL NET LEASE GROUP ARKWRIGHT RD.
22,200 CARS PER DAY
SHERATON DR.
10 NATIONAL NET LEASE GROUP RIVERGATE CENTER
NORTHPARK CENTER
12,600 CARS PER DAY
U.S. HIGHWAY 23/STATE HIGHWAY 87 INTERSTATE 75/STATE HIGHWAY 401 RIVER PL. DR. 54,700 CARS PER DAY
ARKWRIGHT RD. 22,200 CARS PER DAY
11 NATIONAL NET LEASE GROUP U.S. HIGHWAYINTERSTATE 23/STATE 75/STATE HIGHWAY HIGHWAY 87 401 22,200 CARS PER DAY
ARKWRIGHT RD. SHERATON DR.
12,600 CARS PER DAY
SPRINGDALE ELEMENTARY SCHOOL
54,700 NORTHPARK CENTER CARS PER DAY
LANE MC KIBBEN ELE- TATTNALL MENTARY SCHOOL SQUARE ACADEMY
12 NATIONAL NET LEASE GROUP ARKWRIGHT RD.
22,200 CARS PER DAY
PYLON SIGN
13 NATIONAL NET LEASE GROUP AREA DEMOGRAPHICS
1 MILE 3 MILES 5 MILES
2019 Estimated Population 2,977 23,307 54,681
2024 Projected Population 3,057 23,259 54,784
Projected Annual Growth 2019 to 2024 0.53% -0.04% 0.04%
Historical Annual Growth 2010 to 2019 0.46% 0.31% 0.06%
2019 Estimated Households 1,349 9,950 23,281
2024 Projected Households 1,385 9,933 23,308
Projected Annual Growth 2019 to 2024 0.53% -0.03% 0.02%
Historical Annual Growth 2010 to 2019 0.54% 0.37% 0.04%
2019 Estimated Average Household Income $57,896 $89,017 $82,332
2019 Estimated Median Household Income $39,919 $58,508 $51,010
2019 Estimated Per Capita Income $26,163 $38,177 $34,968
2019 Estimated Total Businesses 288 1,190 2,399
2019 Estimated Total Employees 3,777 14,767 27,961
14 NATIONAL NET LEASE GROUP AREA OVERVIEW Macon, Georgia Macon-Bibb County is located in the central part of the state, approximately 80 miles south of Atlanta on Interstate 75. As a consolidated entity, the government is considered both a city and county. Macon had a population of 154,840 as of July 1, 2019. Situated in the center of Georgia, whose economy is forecasted for steady growth well into the foreseeable future, and at the physical crossroads of two major interstates and excellent highway networks, Macon GA is a great place for businesses; and local employers draw from a civilian labor force that includes at least five surrounding counties. In addition to low business costs, abundant water, two rail roads, and a Certified Georgia Work Ready status with Bibb County holding the distinction of being the largest county in Georgia by population to achieve Georgia Work Ready certification, Macon GA is also just a seventy- five minute drive away from Atlanta’s Hartsfield International Airport, adding value and convenience for employers and employees alike. While Robins Air Force Base in neighboring Warner Robins is the single largest employer in the Midstate, greater Macon GA looms large as the financial, retail, medical, educational, and cultural center of Middle Georgia. Top employers in Macon GA are impressively diverse among industries, as well, with education, health care, aerospace, manufacturing, government, insurance, retail, and financial services strongly represented in workforce numbers. Macon-Bibb County Georgia’s consolidated government and local business community works together to enhance the economic climate and to attract new businesses and visitors, expand existing industry, and to recruit new residents. In addition to the strong commitment of local companies to stay in Macon- Bibb, efforts have drawn new businesses to the area. Major employers within Macon-Bibb County include Navicent Health Medical Center (formerly the Medical Center of Central Georgia), the Bibb County School District, Coliseum Health System, Mercer University, Macon-Bibb Government, Wal-Mart, and YKK, Inc. Macon-Bibb County has more than 500 practicing physicians using three full service and two psychiatric hospitals, totaling more than 1,150 beds. This includes Navicent Health Medical Center, which is a regional care facility serving a 50 county area. The aerospace, manufacturing, lodging, and food service industries also provide a large number of well-paid jobs. Robins Air Force Base (RAFB), located in adjacent Houston County, continues to favorably impact the Macon-Bibb County economy. Downtown Macon is a vibrant hub of activity. The Georgia Sports Hall of Fame, historic Douglass Theatre, Tubman African-American Museum, Cox Capital Theater, Grand Opera House and City Auditorium and Centreplex anchor the downtown entertainment district. The Museum of Arts and Sciences, located centrally in Macon-Bibb County, is Georgia’s largest museum devoted to the arts and sciences.
15 NATIONAL NET LEASE GROUP SRS NATIONAL NET LEASE GROUP IS THE EXCLUSIVE NET LEASE CAPITAL MARKETS TEAM OF SRS REAL ESTATE PARTNERS.
275+ 25+ #1 2100+ 485 $1.5B
RETAIL OFFICES LARGEST REAL ESTATE RETAIL PROPERTIES TRANSACTION PROFESSIONALS SERVICES FIRM TRANSACTIONS SOLD VALUE in North America in 2019 in 2019 in 2019 exclusively dedicated to retail company wide NNLG NNLG
This marketing material has been prepared by SRS National Net Lease Group (SRS) and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither the owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this marketing material is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this marketing material. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.
*Statistics are for 2019
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