Transcript ABSOLUTE NNN FOR SALE 404-406 State Hwy 110 N Whitehouse

INVESTMENT SUMMARY
• Sale Price:
$1,650,000
• Cap Rate:
8.25%
• Building Size:
5,500 Sq. Ft.
• Land Size:
1.5 ac (approx)
• Seats:
201
• Opening Date:
May 2012
• NOI:
$136,125
• Lease Term:
20 years + 4 five year options to renew
• Lease Type:
Absolute NNN
• Increases:
1% increases annually
• Options:
4 x 5 years with same increases
TENANT INFORMATION
This new Perkins Restaurant (best location in Ft
Dodge) is operated by a franchisee with more than 20
years of experience with Perkins, both as an operator
and a Senior Area Director, with responsibility for 3550 stores. Currently operating four profitable units and
about to open this 5th store in May 2012. Offering a
personal guarantee.
1010 Northern Blvd, Ste 208
Great Neck, NY 11021
PH: 516-482-0220
FX: 516-977-8555
[email protected]
former Lone Star Steakhouse
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors,
omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals
LOCATION INFORMATION
• Great location near Crossroads Mall and several big box
centers with Target, Walmart, JC Penny & Sears (1/2 mile)
• Next to Country Inn Suites, Menards & Comfort Inn (1/4 mile)
• Other near-by national retailers include Office Max, Kohls,
Dunhams, Culvers, Payless, etc.
Demographics
1010 Northern Blvd, Ste 208
Great Neck, NY 11021
PH: 516-482-0220
FX: 516-977-8555
[email protected]
2010 Total Population
25,606
2009 Mean HH Income
$42,555
Traffic Count (Hwy 20 Bus)
13,600
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors,
omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals
FORT DODGE
MEMORIAL PARK CEMETERY
1010 Northern Blvd,
Ste 208
Great Neck, NY 11021
PH: 516-482-0220
FX: 516-977-8555
[email protected]
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals
PERKINS FAMILY RESTAURANT & BAKERY
FORT DODGE
MEMORIAL PARK CEMETERY
•Founded in 1958 in Ohio as a single pancake
house
•Now located in 34 states and 5 provinces
•Operating 480 units; 319 franchised and 161
corporate
•25,000 employees
•Serving high quality, value-priced food
•Breakfast, lunch & dinner
AREA INFORMATION
•Ft. Dodge, founded 1869; is the county seat of Webster County
•Major businesses are National Gypsum, Georgia Pacific, Celotex
and US Gypsum
•Home of Iowa Central Community College (5,500 students)
•Trinity Medical Center (200 bed cardiovascular w/1,000 staff)
•Ft Dodge Correctional Facil (1,250 bed med/security)
•Major industries include gypsum & limestone mining and the
manufacturing of drywall, veterinary pharmaceuticals & vaccines
1010 Northern Blvd, Ste 208
Great Neck, NY 11021
PH: 516-482-0220
FX: 516-977-8555
[email protected]
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors,
omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals