offering memorandum (l) · 2019-02-08 · regarding these matters and makes no warranty or...
TRANSCRIPT
D E N N Y ' S5 1 1 1 O A K L AW N B LV D H O P E W E L L , VA 2 3 8 6 0
M A R K M C LM A R K M C L O O N EO O N E S T E V E N DS T E V E N D AA V I SV I S A N D R E W T H O M AA N D R E W T H O M A S K N I G H TS K N I G H T
480.429.4580 480.429.4580 314.994.4268
[email protected] [email protected] [email protected]
RETRETAIL INVESTMENT GRAIL INVESTMENT GROUP, LLOUP, LLCC
8255 E RAINTREE DR SUITE 100, SCOTTSDALE, AZ 85260
480.429.4580
RETAIL1031.COM
A N D R E W T H O M AA N D R E W T H O M A S K N I G H TS K N I G H T
Broker of Record
VA #225214094
S T E V E N DS T E V E N D AA V I SV I S
Managing Member
480.429.4580
M A R K M C LM A R K M C L O O N EO O N E
Senior Associate
480.429.4580
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R A I N T R E E D R S U I T E 1 0 0 | S C OT TS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TA I L 1 0 3 1 . C O M
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group conductedany investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
2
OFFERING SUMMARY
Sale Price: $1,565,217
Cap Rate: 5.75%
NOI: $90,000
Lot Size: 1.16 Acres
Year Built: 1992
Building Size: 4,510 SF
Zoning: B3
Market: Richmond
Price / SF: $347.05
RREMC Restaurants, the fifth largest Denny's franchisee in the US, operates 39 restaurants in Georgia, Florida and Virginia. Thecompany was founded in 2002 and is based in West Palm Beach, Florida. Denny’s, Dairy Queen, Burger King, Hilton, Marriott, and DaysInn are just a few of the dozens of establishments under John’s leadership, consisting of over 40 operating restaurants, and alsoincludes seven hotels, and more than 40 single-tenant retail properties. He is the current franchisor for Hurricane Grill & Wings, withover 75 units currently open and in business, with plans to develop another 15 more over the course of the next year. Denny'sHopewell is surrounded by numerous retailers including Dunkin' Donuts, Ruby Tuesday, Dairy Queen, Burger King, Pizza Hut, Wendys,Candlewood Suites, Food Lion, Hampton Inn, Mcdonald's, and Shoney's. Also located nearby is Big Lots, Destination Theater, DollarTree, Rite Aid, and Brighter Living, an assisted living facility with 86 rooms.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS• New 20 Year Lease to Commence at COE
• Absolute NNN - Zero Landlord Responsibilities
• 10% Increases Every 5 Years - Hedging Against Inflation
• 3 x 5 Year Options to Extend
• 39 Unit Operator in Florida, Georgia, and Virginia
• 15 Unit Guarantee
DENNY'S | HOPEWELL VA
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R A I N T R E E D R S U I T E 1 0 0 | S C OT TS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TA I L 1 0 3 1 . C O M 3
Denny's is located less than a mile from Fort Lee Army Post and Headquarters of the United States Army Combines Arms Support Command, Sustainment Center
of Excellence, U.S Army Quartermaster School, U.S Army Ordnance School, U.S Army Transportation School, Army Logistics University, Defense Contract
Management, Defense Commissary Agency. Fort Lee is also home to two Army Museums, Army Quartermaster Museum, and the Army Women's Museum. The Fort
Lee Army post has 24,400+ total supported on-post population with an estimated 56,500+ off-post population along with 2,000+ permanent and temporary
housing units on-post. Denny's is also located ±6 Miles to Virginia State University, which has 5,400+ students and 950+ faculty members.
The city of Hopewell is located 24 miles Southeast of Richmond and readily accessible by both I-295 and I-95. The city celebrates rich history with a focus on
preserving the history and hosting cultural activities while still growing for the future. The cities strongest industries are in Army Logistics, Healthcare, and
Distribution and Fulfillment Centers. The Richmond Metro Area is home the headquarters of 12 Fortune 1000 Companies.
HOPEWELL, VIRGINIA
DENNY'S | HOPEWELL VA
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R A I N T R E E D R S U I T E 1 0 0 | S C OT TS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TA I L 1 0 3 1 . C O M 4
DENNY'S | HOPEWELL VA
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R A I N T R E E D R S U I T E 1 0 0 | S C OT TS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TA I L 1 0 3 1 . C O M 5
PPOPULAOPULATIONTION 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
Total population 3,311 32,107 71,444
Median age 31.0 34.0 35.7
Median age (Male) 30.7 32.8 34.9
Median age (Female) 31.4 35.2 36.9
HOUSEHOLDS & INCOMEHOUSEHOLDS & INCOME 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
Total households 1,037 9,898 23,871
# of persons per HH 3.2 3.2 3.0
Average HH income $48,992 $51,043 $58,214
Average house value $151,589 $158,725 $170,018
DENNY'S | HOPEWELL VA
R E TR E TA I L I N V E S T M E N T G RA I L I N V E S T M E N T G RO U P , L LO U P , L LCC | 8 2 5 5 E R A I N T R E E D R S U I T E 1 0 0 | S C OT TS DA L E , A Z 8 5 2 6 0 | 4 8 0 . 4 2 9 . 4 5 8 0 | R E TA I L 1 0 3 1 . C O M 6
MARK MCLMARK MCLOONEOONE
Senior Associate
602.790.1526
AZ #SA673250000 //// AZ #AZCREA32036
STEVEN DSTEVEN DAAVISVIS
Managing Member
AZ #BR101032000
ANDREW THOMAANDREW THOMAS KNIGHTS KNIGHT
Retail Brokerage
NECB, INCNECB, INC
815 Snapdragon Dr. , Beach, FL 32168
314.994.4268
VA #225214094 //// NE #20150583 CT #REB.0756872 FL #BK 3287452 GA #365226 MA #RM 151037 NM #19541 NY #10311206075 RI #18245 UT #10089708-PB00
DENNY'S | HOPEWELL VA
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group conducted any investigationregarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall beresponsible for their costs and expenses of investigating the subject property.
MARK MCLOONE STEVEN DAVIS ANDREW THOMAS KNIGHT480.429.4580 480.429.4580 314.994.4268
[email protected] [email protected] [email protected]
RETRETAIL INVESTMENT GRAIL INVESTMENT GROUP, LLOUP, LLCC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM