Popeye s - Abilene, Texas. Price $673,000 7% Cap Rate 8 Year Lease Length NNN Lease

Transcription

1 Popeye s - Abilene, Texas Price $673,000 7% Cap Rate 8 Year Lease Length NNN Lease

2 Summary of Salient Facts Address 841 Ambler, Abilene, Texas 7901 Price / Cap $673,000 / 7% Cap Rate Rent $3, Monthly / $47,132 Annually Lot Size 27,971 SqFt Building Size 2,199 Year Built 2001 Store # 5547

3 Tenant Summary Tenant Trade Name Popeye s Chicken Rental Increases Increases: 5% every 5 years Tenant POP Investments, LP $47,132 Lease Guarantor POP Investments, LP $49,488 $51,963 Lease Type Rent NNN Lease. No Landlord Obligations. $3, Monthly / $47,132 Annually Options (4) 5-year options with 5% increases per option. If all options taken, tenancy would last until Roof and Structure Tenant Responsible Lease Term 20 years Lease Commencement Date Lease Expiration Date Term Remaining on Lease 8 years. Plus Four 5-year options to renew.

4 About Abilene, TX Abilene is a city in Taylor and Jones counties in West Texas, United States and is the 27th-most populous city in the state of Texas. It is the principal city of the Abilene Metropolitan Statistical Area. It is the county seat of Taylor County. Dyess Air Force Base is located on the west side of the city. Abilene is located off Interstate 20, between exits 279 on its western edge and 292 on the east. Abilene is 150 miles (240 km) west of Fort Worth, Texas. The city is looped by I-20 to the north, US 83/84 on the west, and Loop 322 to the east. A railroad divides the city down the center into north and south. The historic downtown area is on the north side of the railroad. The fastest-growing sections of the city are growing to the southwest, along Southwest Drive, the Winters Freeway, and the Buffalo Gap Road corridor; the southeast, along Loop 322, Oldham Lane, Industrial Drive, and Maple Street; and in the northeast near the intersection of SH 351 and I-20. Many developments have begun in these three areas within the last few years. Three lakes are in the city, Lytle Lake on the western edge of Abilene Regional Airport, Kirby Lake on the southeast corner of the US 83/84 and Loop 322 interchange, and Lake Fort Phantom Hill in Jones County in northern Abilene. ***information gathered from:

5 Neighboring Attractions Abilene Christian University is located 1.7 miles from the subject property and currently has 4,544 students enrolled and 253 full-time faculty members. The campus draws the community to it for sporting events, concerts, mass, and theater. Hardin-Simmons University is located 0.1 miles from the subject property and currently has over 2,000 students enrolled with many recreational events that bring the community together. Shopping center adjacent to Abilene Christian University and it is located 2.1 miles from the subject property.

6 About Popeyes Popeyes Forty-five years ago in New Orleans, Louisiana, a taste sensation was born. What began with one small restaurant and one big idea turned into a craze that swept the nation and the world Alvin C. Copeland Sr., reopens his southern fried chicken restaurant as Popeyes (after Popeye Doyle of The French Connection). Selling spicy, New Orleans-style chicken Popeyes opens first franchise restaurant in Louisiana Popeyes goes global and expands to Toronto, Canada Popeyes introduces crawfish as a limited-time offer in the United States America s Favorite Chicken Company (also known as AFC Enterprises, Inc.) is formed and purchases both Popeyes and Church s Chicken Popeyes surpasses one billion-dollar annual sales mark for the first time Popeyes becomes the number-two quick-service chicken chain based on number of units. Popeyes celebrates new heritage-designed restaurants in Atlanta, GA Popeyes opens 2,000th restaurant in Memphis, Tennessee. ***Information gathered from: Pop Investments honored by Popeyes Popeyes awarded the 2008 Gold Plate Awards to POP Investments L.P. in Mesquite, Texas, owned and operated by Guillermo Perales, and to the Army and Air Force Exchange Service s restaurant at Schofield Barracks in Schofield, Hawaii. This award recognizes the best domestic and international restaurants in the system based on sales performance, overall execution of the Popeyes concept, and leadership as demonstrated by the restaurant manager and his/her team. ***Information gathered from

7 Aerial Map

8 Close Up Aerial Map

9 Demographics 1 Miles: 3 Miles: 5 Miles: 2010 Population 6,786 48,164 84, Population 6,821 49,607 86, Population 6,938 51,041 88, Households 2,313 18,259 32, Households 2,341 18,931 33, Households 2,380 19,509 34, Average Households Size Owner Occupied Housing Units 1,171 9,895 18, Renter Occupied Housing Units 1,142 8,364 13, Owner Occupied Housing Units 1,102 9,502 17, Renter Occupied Housing Units 1,239 9,429 15,526

10 Demographics (continued) 1 Miles: 3 Miles: 5 Miles: 2017 Households by Income < $15, ,556 5,071 $15,000 - $24, ,039 5,032 $25,000 - $34, ,520 4,410 $35,000 - $49, ,724 5,201 $50,000 - $74, ,478 6,129 $75,000 - $99, ,701 3,256 $100,000 - $149, ,304 2,652 $150,000 - $199, $200, Median Household Income $29,691 $36,423 $40,028 Average Household Income $41,653 $50,321 $56,255 Per Capita Income $15,739 $20,115 $22,572