pizza hut · pizza hut is the largest pizza chain in the world, operating over 18,000 restaurants...

INVESTMENT OPPORTUNITY

PIZZA HUTNEWLY REMODELED TO LATEST

PIZZA HUT PROTOTYPE

OFFERED AT: $1,210,000 | 5.50% CAP

AUGUSTA, MAINE

Actual Property

EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW

PIZZA HUT | Augusta, ME | 2

4 Offering Summary5 Investment Highlights6 Lease Summary & Rent Overview

EXECUTIVE SUMMARY

8 Location Maps9 Property Photos11 Neighboring Tenants15 Aerials

PROPERTY INFORMATION

21 About Pizza Hut

TENANT OVERVIEWS

23 Augusta Overview23 Demographics

Confidentiality Agreement & Disclosures

AREA OVERVIEW

EXCLUSIVELY REPRESENTED BY

Color Scheme

Fonts

GOTHAM/ BLACKGOTHAM/ MEDIUMGOTHAM/ LIGHT

CMYK C:0 / M:100 / Y:65 / K:47

RGB R:145 / G:0 / B:40

CMYK C:0 / M:0 / Y:0 / K65

RGB R:119 / G:120 / B:123

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

TABLE OF CONTENTS

Listed in conjunction with Maine real estate broker John P Wise License Al90600526

Actual Property

DREW OLSONAssociate

[email protected]

EXECUTIVE SUMMARY

PIZZA HUT | AUGUSTA, ME

PIZZA HUT | Augusta, ME | 3Actual Property



PROPERTY OVERVIEW

Address: 215 Western AveAugusta, ME 04330

Property Size: Approx 2,636 Sq. Ft.Land Size: 25,000 Sq. Ft.Ownership: Fee SimpleYear Renovated: 2018

INVESTMENT HIGHLIGHTSOffering Price: $1,210,000Net Operating Income: $66,500Cap Rate: 5.50%Price/SF: $459

Lee & Associates is pleased to exclusively offer for sale to qualified investors the opportunity to purchase a 100% fee-simple interest (land & building) in a Pizza Hut property located at 215 Western Avenue in Augusta, Maine (the “Property). The Property consists of a 2,499-square-foot retail building that underwent a major renovation in 2018 and sits on an approximately 25,000-square-foot parcel. The subject property is leased to GC Pizza Hut dba Pizza Hut, the largest Pizza Hut franchisee in the New England region, operating 74 stores across New York, Massachusetts, Connecticut, Vermont, New Hampshire, Maine, and Tennessee. The Tenant has reported an ideal 7.9% rent to sales ratio and the tenant is paying an extremely low rent. These crucial metrics reflect a high probability this location is profitable and alleviates any future vacancy risk concerns. Pizza Hut is a subsidiary of Yum! Brands, Inc., and is the most recognized pizza restaurant chain in the world, operating more than 18,000 restaurants in more than 100 countries. Headquartered in Louisville, Kentucky, YUM! Brands, Inc. reported a company revenue of nearly $6 billion in 2018.The tenant is on a new 20-year absolute NNN lease that features 10% increases every 5 years in the Primary Term and the (4) 5-year Option Periods, offering an investor a steady income stream with rent growth as a hedge against inflation. The landlord ideally has zero maintenance responsibilities as tenant handles taxes, insurance, building/parking lot maintenance and landscaping. The subject property is located on Western Ave/SR-17/SR-100, just one mile from the on/off ramp to Interstate 95 (35,000 cars per day), offering excellent visibility to traffic counts of 25,000 cars per day. Western Ave is a major traffic corridor connecting travelers in/out of Downtown Augusta to/from Interstate 95 for access to Portland an hour south. This thoroughfare is the central retail corridor, home to the Turnpike Mall, anchored by Hannaford Supermarket, Bed Bath & Beyond, and Petco; Augusta Crossing, co-anchored by Lowe’s and Target; and Capitol Shopping Center, anchored by Shaw’s grocery store and Big Lots. Additional national retailers in the area include Goodwill, AutoZone, Best Buy, Staples, PetSmart, Verizon Wireless, CVS, The UPS Store, and TD Bank, as well as restaurants including Applebee’s, House of Pancakes, McDonald’s, Burger King, Taco Bell, and Dunkin Donuts, providing outstanding synergy and an excellent draw to the trade area. The subject property is located in Augusta, the state capital of Maine and the county seat of Kennebec County. Located in the heart of the beautiful Kennebec Valley in Central Maine, the city is just an hour from Portland. Augusta’s economy is diverse; it is Maine’s largest location for government employment, employing several thousand Augustans. The area is a utility hub as the site of Central Maine Power Company, an electric utility that serves more than 560,000 customers throughout the state. High tech has emerged as a strong industry in the past decade - Augusta is home to SCI Systems, which produces computer peripheral equipment, and Microdyne, a technology services company, that has a technical support and helpdesk service center in Augusta. Augusta’s central location has made it a major regional distribution center and significant warehousing/distribution activity is evident within the commercial base of the community. In addition, Augusta has always been one of the state’s retail hubs, ranking second only to Portland in retail sales.

-- OFFERING SUMMARY --

• Offering Summary • Lease Summary & Rent OverviewInvestment Highlights



-- INVESTMENT HIGHLIGHTS --

GLOBALLY RECOGNIZED TENANT: PIZZA HUT • SUCCESSFUL 74-UNIT OPERATOR Pizza Hut is the largest pizza chain in the world, operating over 18,000 restaurants in more than 100 countries. Pizza Hut is a subsidiary of YUM! Brands, Inc. (NYSE: YUM), the largest restaurant company in the world with over 45,000 restaurants in more than 135 countries and territories. YUM! Brands is ranked number 494 on the Fortune 500 list.The Franchisee, GC Pizza Hut dba Pizza Hut, is the largest Owner/Operator in the Pizza Hut System within the New England Region, operating 74 stores across New York, Massachusetts, Connecticut, Vermont, New Hampshire, Maine, and Tennessee.

IDEAL 7.9% RENT TO SALES RATIO • EXTREMELY LOW RENT • HIGHLY PROFITABLE LOCATION • LONG-TERM PASSIVE INVESTMENTThe Tenant has reported an ideal 7.9% rent to sales ratio and the tenant is paying an extremely low rent. These crucial metrics reflect a high probability this location is profitable and alleviates any future vacancy risk concerns.

NEW 20-YEAR ABSOLUTE NNN LEASE • STRONG RENT GROWTH • ZERO LANDLORD RESPONSIBILITIESThe tenant will commence a new 20-year lease on close of escrow that features 10% increases every 5 years in the Primary Term and the (4) 5-year Option Periods, offering an investor a steady income stream with rent growth as a hedge against inflation.

MAJOR BUILDING RENOVATION IN 2018 • LATEST PIZZA HUT PROTOTYPE DESIGN • DRIVE-THRU WINDOWIn 2018, the building underwent a major renovation to convert it from a KFC building to the current façade. The building was completely rebuilt down to the studs converting it to the latest Pizza Hut prototype which includes a drive through pick up window.

LOCATED ALONG WESTERN AVE/SR-202 • EXCELLENT VISIBILITY & ACCESS • STRONG TRAFFIC COUNTSThe subject property is located on Western Ave/SR-202, just one mile from the on/off ramp to Interstate 95 (35,000 cars per day), offering excellent visibility to traffic counts of 25,000 cars per day. Western Ave is a major traffic corridor connecting travelers in/out of Downtown Augusta to/from Interstate 95 for access to Portland an hour south.

MAJOR RETAIL CORRIDOR HOME TO NATIONAL TENANTS • EXCELLENT DRAW TO TRADE AREAThis thoroughfare is the central retail corridor, home to the Turnpike Mall, anchored by Hannaford Supermarket, Bed Bath & Beyond, and Petco; Augusta Crossing, co-anchored by Lowe’s and Target; and Capitol Shopping Center, anchored by Shaw’s grocery store and Big Lots. Additional national retailers in the area include Goodwill, AutoZone, Best Buy, Staples, PetSmart, Verizon Wireless, CVS, The UPS Store, and TD Bank, as well as restaurants including Applebee’s, House of Pancakes, McDonald’s, Burger King, Taco Bell, and Dunkin Donuts, providing outstanding synergy and an excellent draw to the trade area.

LOCATED IN AUGUSTA • CAPITAL CITY OF MAINE • DIVERSE ECONOMY ANCHORED BY GOVERNMENT • HOME TO UNIVERSITY OF AUGUSTA AT MAINE: RANKED A TOP COLLEGE (U.S. NEWS & WORLD REPORT) The subject property is located in Augusta, the state capital of Maine and the county seat of Kennebec County. Located in the heart of the beautiful Kennebec Valley in Central Maine, the city is just an hour from Portland. Augusta’s economy is diverse; it is Maine’s largest location for government employment, employing several thousand Augustans. The area is a utility hub as the site of Central Maine Power Company, an electric utility that serves more than 560,000 customers throughout the state. High tech has emerged as a strong industry in the past decade - Augusta is home to SCI Systems, which produces computer peripheral equipment, and Microdyne, a technology services company, that has a technical support and helpdesk service center in Augusta. Augusta’s central location has made it a major regional distribution center and significant warehousing/distribution activity is evident within the commercial base of the community. In addition, Augusta has always been one of the state’s retail hubs, ranking second only to Portland in retail sales.

• Investment Highlights •Offering Summary Lease Summary & Rent Overview



-- LEASE SUMMARY --

INVESTMENT SUMMARY

Tenant: GC Pizza Hut, LLC dba Pizza Hut (74-Unit Operator)

Building Size: 2,636 Sq. Ft.

Lot Size: 25,000 Sq. Ft.

Ownership: Fee Simple

Year Built: 2018 (Complete Remodel to New Asset Type for Pizza Hut)

TERMS, BASE RENT & OPTIONS

Annual Base Rent: $66,500

Lease Commencement: April 1, 2020 (Est)

Lease Expiration: March 31, 2040 (Est)

Lease Term: 20 Years

Options to Renew: (4) 5-Year Options

Rent Increases: 10% Increases Every 5 Years in Primary & Option Periods

Lease Type: Absolute NNN

Landlord Responsibilities: None

• Lease Summary & Rent Overview •

-- RENT OVERVIEW --

Offering Summary Investment Highlights

RENT SCHEDULE - PRIMARY TERM

Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/MO Increase

Years 1 - 5 4/1/2020 3/31/2025 $66,500.00 $5,541.67 $25.22 $2.10 --

Years 6 - 10 4/1/2025 3/31/2030 $73,150.00 $6,095.83 $27.75 $2.31 10%

Years 11 - 15 4/1/2030 3/31/2035 $80,465.00 $6,705.41 $30.52 $2.54 10%

Years 16 - 20 4/1/2035 3/31/2040 $88,511.50 $7,375.96 $33.58 $2.80 10%

OPTION PERIODS - (4) 5-YEAR OPTIONS

Option 1 4/1/2040 3/31/2045 $97,362.65 $8,113.55 $36.93 $3.08 10%

Option 2 4/1/2045 3/31/2050 $107,098.91 $8,924.91 $40.63 $3.38 10%

Option 3 4/1/2050 3/31/2055 $117,808.80 $9,817.40 $44.69 $3.72 10%

Option 4 4/1/2055 3/31/2060 $129,589.68 $10,799.14 $49.16 $4.09 10%

PROPERTY INFORMATION





-- LOCATION MAPS --

• Location Maps • Property Photos AerialsNeighboring Tenants

PHILADELPHIA

PORTLAND

NEW HAVENSCRANTON

ALBANY

ITHACA

NEW YORKALLENTOWN

PROVIDENCE

ATLANTIC CITY

TO PORTLAND51 MILES

SYRACUSE

UTICASPRINGFIELD

HARTFORD

MANCHESTER

AUGUSTA

55 Miles

150 Miles

3

202

202202

202

AUGUSTA STATE AIRPORT

TURNPIKE MALL

AUGUSTA CROSSINGCAPITOL SHOPPING

CENTER

UNIVERSITY OF MAINE AT AUGUSTA

MARKETPLACE AT AUGUSTA

AUGUSTA

ENVIRONMENTAL PROTECTION DEPT

DEPT OF THE SECRETARY OF STATE

307 Miles

447 Miles



Location Maps • Property Photos • AerialsNeighboring Tenants

-- PROPERTY PHOTOS --



-- PROPERTY PHOTOS --

Location Maps • Property Photos • AerialsNeighboring Tenants



-- AUGUSTA CROSSINGS SHOPPING CENTER --

Location Maps Property Photos Aerials• Neighboring Tenants •




-- AUGUSTA CROSSINGS SHOPPING CENTER --




-- JOURNAL SQUARE SHOPPING CENTER --




-- CAPITOL SHOPPING CENTER --



-- OVERHEAD VIEW --

Location Maps Property Photos • Aerials •Neighboring Tenants

PINE TREE VETERINARY HOSPITAL

WESTERN AVE25,000 CPD

100 202



-- LOOKING NORTH --MAINE GENERAL

HOSPITAL

BUKER COMMUNITYCENTER

KENNEBEC VALLEY CHAMBER OF COMMERCE



UNIVERSITY OF MAINE AT AUGUSTA

3

3• O’CONNOR AUTO PARK• CAPITOL CITY TIRE• O’CONNOR TRUCKS

• CENTRAL MAINE POWER• DEPT OF HEALTH & HUMAN SVCS• BUREAU OF MOTOR VEHICLES

EVERGREENDENTAL ASSOC

TRC COMPANIES

MAINE STATE TROOPERS ASSOCIATES

MAINE HOSPITALASSOCIATION

AUGUSTAARMORY

KENNEBEC VALLEY HUMANE SOCIETY

100 202

100 202

COOKORTHODONTICS


CENTRAL MAINE POWER CO


35,000 CPD

AUGUSTA CROSSINGS SHOPPING CENTER

MARKETPLACEAT AUGUSTA

JOURNAL SQUARE SHOPPING CENTER



-- LOOKING SOUTHEAST --




AUGUSTAARMORY


100

202

ARMORY ST

CAPITOL ST

MAINE DOTHEADQUARTERS

AUGUSTAPOLICE DEPTMAINE

STATE LEGISTLATUREDEPT OF THE

SECRETARY OF STATEMAINE STATE

MUSEUMSTATE OFFICE BLDGPARKING GARAGE

MAINE PUBLIC EMPLOYEES RETIREMENT

SYSTEM


STATE ST

MAINE LOTTERY

MAINE COMMUNITYCOLLEGE SYSTEM

MAINE DEPT OF INLAND FISHERIES & WILDLIFE

ST MICHAELSCHOOL

AUGUSTAFIRE DEPT

LINCOLNSCHOOL

CONCENTRA URGENT CARE

TOWN & COUNTRYAPARTMENTS

ARCH BETAAPARTMENTS

CHILDREN’S CENTEROF AUGUSTA


MAINE HOSPITALASSOCIATION COOK

ORTHODONTICS

100

202



CAPITOLSHOPPING CENTER

AUGUSTA



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ARMORY ST

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CONCENTRA URGENT CARE



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ARCH BETAAPARTMENTS


PINE VIEWESTATES

MAINE MOTORTRANSPORT ASSOC

ASSOCIATED GENERAL CONTRACTORS OF MAINE

US GEOLOGICALSURVEY

KENNEBECICE ARENA

WOODLANDS SENIOR LIVING

• DOWNEAST ENERGY• RLC ENGINEERING• MATTSON’S FLOORING

MAINEGENERAL REHABILITATION & LONG TERM CARE

CENTRAL MAINE POWER


100

202

100202


35,000 CPDAUGUSTA CROSSINGS

SHOPPING CENTER

CAPITOLSHOPPING CENTER

JOURNAL SQUARESHOPPING CENTER

TURNPIKEMALL



-- LOOKING WEST --




CENTRAL MAINE POWER CO



TRC COMPANIES




COOKORTHODONTICS

KENNEBEC VALLEYTENNIS ASSOCIATION

MAINECOMMERCIAL

TITLE

AUGUSTATOOL RENTAL

GRANITE HILL ESTATESRETIREMENT COMMUNITY

CENTRAL MAINEPOWER CO


35,000 CPD

35,000 CPD


JOURNAL SQUARESHOPPING CENTER

TURNPIKEMALL

TENANT OVERVIEW





-- YUM! BRANDS, INC. --

-- ABOUT PIZZA HUT --

• About Pizza Hut •

Pizza Hut is a subsidiary of YUM! Brands, Inc. (NYSE: YUM), the largest restaurant company in the world with KFC, Pizza Hut, Taco Bell, and WingStreet under its umbrella of fast-food and fast-casual brands. Yum! Brands, Inc., based in Louisville, Kentucky, has over 43,500 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. In 2017, Yum! Brands was named among the top 100 Best Corporate Citizens by Corporate Responsibility Magazine. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

Yum! Brands is ranked number 218 on the Fortune 500 list, with revenues exceeding $6 billion in 2016.

Pizza Hut is the largest pizza company in the world. The company is known for its Italian-American cuisine menu including pizza and pasta, as well as side dishes and desserts. Pizza Hut has nearly 18,400 restaurants and 350,000 employees in over 110 countries. Headquartered in Plano, Texas, Pizza Hut was founded in June 1958 by two Wichita State University students, brothers Dan and Frank Carney, who borrowed $600 from their mom to open a pizza place in Wichita, Kansas. PepsiCo acquired Pizza Hut in November 1977.Pizza Hut is split into several different restaurant formats: the original family-style dine-in locations; storefront delivery and carry-out

locations; and hybrid locations that have carry-out, delivery, and dine-in options. Some full-size Pizza Hut locations have a lunch buffet, with “all-you-can-eat” pizza, salad, bread sticks, and a pasta bar. Pizza Hut has other business concepts independent of the store type; Pizza Hut “Bistro” locations are “Red Roofs” which have an expanded menu and slightly more upscale options. The company announced a rebrand that began on November 19, 2014. The rebrand was an effort to increase sales, which dropped in the previous two years. The menu was expanded to introduce various items such as crust flavors and eleven new specialty pizzas. Work uniforms for employees were also refreshed. In 2017, Pizza Hut was listed by UK-based company Richtopia at number 24 in the list of 200 Most Influential Brands in the World.

Vintage “Red Roof” locations, designed by architect Richard D. Burke, can be found in the United States and Canada.

Parent Company Yum! Brands

Credit Rating S&P: BB

# of Employees 34,000

2018 Revenue $5.69 Billion

2018 Net Income $1.54 Billion

2018 Assets $4.13 Billion

Pizza Hut Quick Stats

ABOUT THE OPERATOR - GC PIZZA HUT LLCThe subject property is operated by an experienced franchisee, with locations in New York, Massachusetts, Connecticut, Vermont, New Hampshire, Maine, and Tennessee. The subject property is leased to GC Pizza Hut LLC dba Pizza Hut on a long-term absolute triple-net (NNN) lease.

• 74 Total Stores Operated by Franchisee in 7 States• Preferred Growth Partner with Pizza Hut Corporate• #1 Franchisee - Large Owner/Operator in Pizza Hut System, New England Region

AREA OVERVIEW





-- AUGUSTA OVERVIEW --

Augusta is the state capital of Maine and the county seat of Kennebec County. Located in the heart of the beautiful Kennebec Valley in Central Maine, just an hour from Portland, Augusta is a city with a small town feel. Maine is annually ranked as one of the top 10 healthiest states in America. Public trails, land preserves and access to rivers and lakes makes it easy to enjoy the state’s outdoors. Maine hospitals

are recognized for general and specialized care, and older people choose to spend their retirement years in Maine because of its quality of life, and quality of place offered by historic districts and vibrant communities.

DIVERSE ECONOMY • GOVERNMENT LARGEST EMPLOYER • EMERGING HIGH-TECH INDUSTRY, REGIONAL DISTRIBUTION CENTER, RETAIL HUB SECOND ONLY TO PORTLAND As the capitol of Maine and seat of state government, Augusta is Maine’s largest location for government employment; state government employs several thousand Augustans. Governmental activities are supported by financial institutions, law firms, and economic and governmental liaison consultants. Health care institutions in the region also account for a large share of service sector employment, especially MaineGeneral Medical Center, which employs 1,738 at its campuses in Augusta and nearby Waterville. Augusta is the site of a number of private sector employers with significant bases in the city, such as Central Maine Power Company, an electric utility that serves more than 560,000 customers throughout the state; and SCI Systems, which produces computer peripheral equipment.

In the past decade, high-tech jobs have emerged. Microdyne, a technology services company, has a technical support and helpdesk service center in Augusta. Augusta, like the rest of Maine, has fiber optic cable in many phone lines. This allows greater carrying capacity and is attractive to firms that demand easy linkage with other offices. Augusta’s central location has made it a major regional distribution center. Significant warehousing/distribution activity is evident within the commercial base of the community. Augusta is situated near several popular vacation areas, and tourism is another significant source of revenue. In addition, Augusta has always been one of the state’s retail hubs, ranking second only to Portland in retail sales.

REVITALIZED DOWNTOWN AREA - For much of Augusta’s history, the central business district was on and near Water Street on the west bank of the Kennebec River. With the completion of the Maine Turnpike and Interstate 95 in 1955, local commercial developments began to move away from Water Street and closer to the highway, resulting in an increase in storefront vacancies downtown.

Since the late 2000s, there has been a renewed and ongoing focus by city officials, the Augusta Downtown Alliance, and private developers to revitalize Augusta’s downtown, especially its waterfront area. A state-city partnership called the Capital Riverfront Improvement District (CRID) was established in 1999 to increase access to and use of the Kennebec River and revitalize the city’s downtown. CRID’s master plan for the city’s downtown, developed by the people of Augusta and supported by state and city government, envisions a revitalized recreational waterfront, paths and parks linking the area’s features and amenities, and development of the urban park. Private investment has led to revitalization of downtown’s business core through the rehabilitation of landmark buildings, such as Old City Hall, the historic former home of city government, now an assisted living residence for seniors.

The Marketplace at Augusta shopping center expanded its floor space from 750,000 square feet to 960,000 square feet and Augusta Crossing, a $55 milliion shopping center opened in 2006, adding to the retail power of the area.

Augusta Sits on the Kennebec River

• Augusta Overview • Demographics

HOME TO UNIVERSITY OF MAINE AT AUGUSTA • RANKED AMONG TOP PUBLIC COLLEGES IN NORTH REGION BY U.S. NEWS & WORLD REPORTAugusta is home to the University of Maine at Augusta (“UMA”). Established in 1965, UMA is a regional state university providing baccalaureate and select associate degrees for residents of Central Maine. The university has campuses in Augusta and Bangor, and courses offered online and across the state. The University of Maine at Augusta is divided into two primary academic colleges: College of Arts and Sciences and College of Professional Studies.

For several years, UMA has been ranked among the top public comprehensive colleges in the north region by U.S. News and World Report.

University of Maine at Augusta



-- DEMOGRAPHICS --

Augusta Overview • Demographics •

• Augusta is the county seat of Kennebec County, which has a population of 121,290.

• Kennebec County is part of the Augusta-Waterville, ME Micropolitan Statistical Area, which has a population of 122,151, and is the only micropolitan area in the state of Maine.

• The median age in Augusta is 44.6, which is about the same as the state’s median age of 44.8.

• Augusta’s median household income is $40,181 (2017)., which is lower than that of Maine ($56,277).

• Augusta’s cost of living is 32.8% lower than nearby Portland and 13% less than the national cost of living.

• From 2016 to 2017, employment in Augusta grew at a rate of 3.72%, increasing from 8,470 employees to 8,790.

• As the capitol of the state of Maine, government employees are the largest group in Augusta’s employment pool. Health care and Retail trade follow as the second and third-largest employers.

• The median property value in Augusta ME is $145,100, which is a 6.4% increase from the previous year.

• Homeownership rate in Augusta is 53%.

• There are 8,540 households in Augusta

ECONOMIC SNAPSHOT

HOUSING SNAPSHOT

POPULATION SNAPSHOT

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SUMMARY PROFILE2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 44.3144/-69.7996RS1

215 Western Ave3 mi radius 5 mi radius 10 mi radius

Augusta, ME 04330

PO

PU

LATI

ON

2019 Estimated Population 0 T 17,188 25,107 54,888

2024 Projected Population 0 T 17,748 25,796 56,239

2010 Census Population 0 T 17,607 25,811 56,111


Projected Annual Growth 2019 to 2024 - 0.7% 0.5% 0.5%

Historical Annual Growth 2000 to 2019 - - - -

2019 Median Age 44.1 44.5 44.2

HO

US

EH

OLD

S

2019 Estimated Households 0 T 8,484 12,044 25,116

2024 Projected Households 0 T 8,784 12,404 25,781

2010 Census Households 0 T 8,216 11,701 24,264



Historical Annual Growth 2000 to 2019 - 0.3% 0.3% 0.5%

RA

CE

AN

D

ETH

NIC

ITY

2019 Estimated White - 91.5% 92.7% 94.5%

2019 Estimated Black or African American - 1.9% 1.5% 1.1%

2019 Estimated Asian or Pacific Islander - 2.7% 2.4% 1.5%

2019 Estimated American Indian or Native Alaskan - 0.6% 0.5% 0.5%

2019 Estimated Other Races - 3.2% 2.8% 2.5%

2019 Estimated Hispanic - 2.6% 2.3% 1.8%

INC

OM

E 2019 Estimated Average Household Income $0 T $57,221 $62,061 $67,202

2019 Estimated Median Household Income $0 T $44,610 $48,384 $56,467

2019 Estimated Per Capita Income $0 T $28,906 $30,272 $31,034

ED

UC

ATI

ON

(AG

E 2

5+)

2019 Estimated Elementary (Grade Level 0 to 8) - 6.3% 5.3% 4.0%

2019 Estimated Some High School (Grade Level 9 to 11) - 6.0% 5.5% 5.0%

2019 Estimated High School Graduate - 30.4% 29.5% 30.9%

2019 Estimated Some College - 18.3% 19.1% 20.1%

2019 Estimated Associates Degree Only - 8.1% 8.8% 10.1%

2019 Estimated Bachelors Degree Only - 20.1% 20.6% 18.8%

2019 Estimated Graduate Degree - 10.8% 11.2% 11.0%B

US

INE

SS 2019 Estimated Total Businesses 0 T 1,847 2,627 3,539

2019 Estimated Total Employees 0 T 26,752 42,116 50,870

2019 Estimated Employee Population per Business - 14.5 16.0 14.4

2019 Estimated Residential Population per Business - 9.3 9.6 15.5

©2019, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 4/2019, TIGER Geography

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SUMMARY PROFILE2000-2010 Census, 2019 Estimates with 2024 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 44.3144/-69.7996RS1

215 Western Ave3 mi radius 5 mi radius 10 mi radius

Augusta, ME 04330

PO

PU

LATI

ON

2019 Estimated Population 0 T 17,188 25,107 54,888

2024 Projected Population 0 T 17,748 25,796 56,239




Historical Annual Growth 2000 to 2019 - - - -

2019 Median Age 44.1 44.5 44.2

HO

US

EH

OLD

S

2019 Estimated Households 0 T 8,484 12,044 25,116

2024 Projected Households 0 T 8,784 12,404 25,781




Historical Annual Growth 2000 to 2019 - 0.3% 0.3% 0.5%

RA

CE

AN

D

ETH

NIC

ITY

2019 Estimated White - 91.5% 92.7% 94.5%

2019 Estimated Black or African American - 1.9% 1.5% 1.1%

2019 Estimated Asian or Pacific Islander - 2.7% 2.4% 1.5%

2019 Estimated American Indian or Native Alaskan - 0.6% 0.5% 0.5%

2019 Estimated Other Races - 3.2% 2.8% 2.5%

2019 Estimated Hispanic - 2.6% 2.3% 1.8%

INC

OM

E 2019 Estimated Average Household Income $0 T $57,221 $62,061 $67,202

2019 Estimated Median Household Income $0 T $44,610 $48,384 $56,467

2019 Estimated Per Capita Income $0 T $28,906 $30,272 $31,034E

DU

CA

TIO

N(A

GE

25+

)2019 Estimated Elementary (Grade Level 0 to 8) - 6.3% 5.3% 4.0%

2019 Estimated Some High School (Grade Level 9 to 11) - 6.0% 5.5% 5.0%

2019 Estimated High School Graduate - 30.4% 29.5% 30.9%

2019 Estimated Some College - 18.3% 19.1% 20.1%

2019 Estimated Associates Degree Only - 8.1% 8.8% 10.1%

2019 Estimated Bachelors Degree Only - 20.1% 20.6% 18.8%

2019 Estimated Graduate Degree - 10.8% 11.2% 11.0%

BU

SIN

ES

S 2019 Estimated Total Businesses 0 T 1,847 2,627 3,539

2019 Estimated Total Employees 0 T 26,752 42,116 50,870

2019 Estimated Employee Population per Business - 14.5 16.0 14.4

2019 Estimated Residential Population per Business - 9.3 9.6 15.5

©2019, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 4/2019, TIGER Geography

3 Miles 5 Miles 10 Miles

BU

SIN

ES

SR

AC

E &

ET

HN

ICIT

YIN

CO

ME

HO

US

EH

OLD

SP

OP

ULA

TIO

N

Sources: AugustaMaine.gov, VisitMaine.com, MainStreetMaine.org, DataUSA, City-Data, Regis

Lee & Associates and John P Wise (“Broker”) hereby advises all prospective purchasers of Net-Leased Invesment property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Broker has not and will not verify any of this information, nor has Broker conducted any investigation regarding these matters. Broker makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of an investment property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase.This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Broker expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of an investment property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any investment property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Broker and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this investment property.

Exclusively Listed By:

No warranty or representation is made as to the accuracy of the foregoing information. Terms of sale, lease, and availability are subject to change or withdrawal without notice.

BARR&BENNETTNETLEASEDINVESTMENTS

A Lee & Associates Team

DREW OLSONAssociate

[email protected]

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

Listed in conjunction with Maine real estate broker John P Wise License Al90600526

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