3933 ARKWRIGHT ROAD MACON GEORGIA...Atlanta, GA 30326 D 770.617.2149 [email protected] GA...
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ABSOLUTE NNN SALE-LEASEBACK New 15-Year Investment Opportunity ACTUAL SITE 3933 ARKWRIGHT ROAD MACON GEORGIA
Transcript of 3933 ARKWRIGHT ROAD MACON GEORGIA...Atlanta, GA 30326 D 770.617.2149 [email protected] GA...
ABSOLUTE NNN SALE-LEASEBACK New 15-Year Investment Opportunity
ACTUAL SITE
3933 ARKWRIGHT ROAD
MACON GEORGIA
2 NATIONAL NET LEASE GROUP
EXCLUSIVELY MARKETED BY
PATRICK NUTTEVP, NNLG & Market LeaderSRS Real Estate Partners
200 SW First Avenue, Suite 970Fort Lauderdale, FL 33301D 954.302.7365 | M [email protected] License No. BK3120739
SHEREE STROME, CCIMFirst Vice PresidentSRS National Net Lease Group
3445 Peachtree Road NE, Suite 950Atlanta, GA 30326D [email protected] GA License No. 341202
Broker of Record: Ray Uttenhove | GA License #104166
MICHAEL BERKSenior AssociateSRS National Net Lease Group
3445 Peachtree Rd NE, Suite 950Atlanta, GA 30326D [email protected] License No. 385824
3 NATIONAL NET LEASE GROUP
ACTUAL SITE 4 NATIONAL NET LEASE GROUP
PYLON SIGN
Parcel Map
Offering
Property Specifications
OFFERING SUMMARY
ASKING PRICE $3,181,818
CAP RATE 5.50%
NET OPERATING INCOME $175,000
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)
LEASE EXPIRATION 15 Years from Close of Escrow
5 NATIONAL NET LEASE GROUPACTUAL SITE
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
RENT ROLL & INVESTMENT HIGHLIGHTSFor financing options and loan quotes:Please contact our SRS Debt & Equity team at [email protected].
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
6 NATIONAL NET LEASE GROUP
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.
BRAND PROFILE
COMPANY TYPE LOCATIONS STATES
Private 38 5
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PROPERTY OVERVIEW
Location
Parking
Access
Parcel
Traffic Counts
Year Built
Improvements
Zoning
Located inMacon, GA
Bibb County
There are approximately 142 parking spaces
on the owned parcel.
The parking ratio is approximately 17.36 stalls per
1,000 SF of leasable area.
Arkwright Road 2 Access Points
Parcel Number: N041-0053
Acres: 1.67
Square Feet: 72,745 SF
Arkwright Road 22,200 Cars Per Day
Interstate 75 54,700 Cars Per Day
1997
There is approximately 8,177 SF of existing building area
Commercial
ACTUAL SITE 8 NATIONAL NET LEASE GROUP
ELEVATION
ATLANTA80 miles
COLUMBUS100 miles
AUGUSTA130 miles
MACON
LOCATION MAP
2019 ESTIMATED POPULATION
1 Mile 2,977
3 Mile 23,307
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
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ARKWRIGHT RD.
ARKWRIGHT RD.
SHERATON DR.
SHERATON DR.
CARS PER DAY22,200
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ARKWRIGHT RD.
ARKWRIGHT RD.
CARS PER DAY54,700
CARS PER DAY22,200
CARS PER DAY12,600
NORTHPARK CENTERNORTHPARK CENTER
RIVER PL. DR.RIVER PL. DR.
U.S. HIGHWAY 23/STATE HIGHWAY 87U.S. HIGHWAY 23/STATE HIGHWAY 87INTERSTATE 75/STATE HIGHWAY 401INTERSTATE 75/STATE HIGHWAY 401
RIVERGATE CENTERRIVERGATE CENTER
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CARS PER DAY54,700
CARS PER DAY12,600
CARS PER DAY22,200
SPRINGDALESPRINGDALE ELEMENTARY SCHOOL ELEMENTARY SCHOOL
TATTNALL TATTNALL SQUARE ACADEMYSQUARE ACADEMY
LANE MC KIBBEN ELE-LANE MC KIBBEN ELE-MENTARY SCHOOLMENTARY SCHOOL
NORTHPARK CENTERNORTHPARK CENTER
ARKWRIGHT RD.
ARKWRIGHT RD.
SHERATON DR.
SHERATON DR.
INTERSTATE 75/STATE HIGHWAY 401
INTERSTATE 75/STATE HIGHWAY 401
U.S. HIGHWAY 23/STATE HIGHWAY 87
U.S. HIGHWAY 23/STATE HIGHWAY 87
PYLON SIGN
ARKWRIGHT RD.
ARKWRIGHT RD.
CARS PER DAY22,200
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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
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AREA DEMOGRAPHICS
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.
AREA OVERVIEW
15 NATIONAL NET LEASE GROUP
RETAIL PROFESSIONALS
275+
OFFICES
25+
LARGEST REAL ESTATE SERVICES FIRMin North America
exclusively dedicated to retail
#1
RETAIL TRANSACTIONS
in 2019 company wide
2100+
PROPERTIES SOLD
in 2019 NNLG
485
TRANSACTION VALUE in 2019 NNLG
$1.5B
SRS NATIONAL NET LEASE GROUP IS THE EXCLUSIVE NET LEASE CAPITAL MARKETS TEAM OF SRS REAL ESTATE PARTNERS.
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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