quaker steak and lube | sale leaseback ...nnninvestmentgroup.com/wp-content/uploads/2016/04/om...#4...

While the foregoing information has been secured from sources we deem to be reliable, no warranty or representation is made as to the accuracy of the information. Buyer to verify the information and bears all risks for any inaccuracies.

INVESTMENT OPPORTUNITY

* Actual Property

QUAKER STEAK AND LUBE | SALE LEASEBACK$2,850,000 | 7.0% CAP

MADISON (JANESVILLE), WI


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Madison (Janesville), WI

OFFERING MEMORANDUM

EXCLUSIVELY LISTED BY:

Barr & Bennett Net Leased Investmentswww.nnninvestmentgroup.com

* Actual Property

This property is listed in conjunction with Lee & Associates of Madison, LLCfor out of state licensing purposes (WI Lic#701361-91)

Ryan Barr(760) 448-2446

[email protected] Lic#01338994

Ryan Bennett(760) 448-2449

[email protected] Lic#01826517


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INVESTMENT OVERVIEW


QUAKER STEAK & LUBE | 3111 Wellington Ct, Janesville WI 53546

* Actual Property

EXCELLENT RENT TO SALES RATIO 2015 Rent to Sales Ratio was 7.8% - Healthy and Profitable Restaurant

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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.

QUAKER STEAK & LUBE | 3111 Wellington Ct, Janesville WI 53546INVESTMENT OPPORTUNITY

Investment Summary

*Actual Property

INVESTMENT HIGHLIGHTS

Price: $2,850,000

NOI: $199,500

Cap: 7.0%

PROPERTY OVERVIEW

Address: 3111 Wellington Ct, Janesville WI 53546

Tenant: Janesville QSL, LLC dba Quaker Steak & Lube

Guarantor: Personal

Building Size / Lot Size: 7,900 SF / 1.64 Acres

Ownership: Fee Simple

Year Built: 2004 / Renovated in 2014

TERMS, RENT SCHEDULE & OPTIONS

Lease Commencement: Upon close of escrow (Est. June 1, 2016)

Lease Term: 15 Years

Renewal Options: Three (3) 5-Year Options

Lease Type: Absolute Triple-Net (NNN)

Landlord Responsibilities: None.

Rent Increases: 1% Annual Increases - Primary & Options

RENT SCHEDULE - PRIMARY TERM

Term Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/Mo

Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9

Year 10Year 11Year 12Year 13Year 14Year 15

6/1/20166/1/20176/1/20186/1/20196/1/20206/1/20216/1/20226/1/20236/1/20246/1/20256/1/20266/1/20276/1/20286/1/20296/1/2030

5/31/20175/31/20185/31/20195/31/20205/31/20215/31/20225/31/20235/31/20245/31/20255/31/20265/31/20275/31/20285/31/20295/31/20305/31/2031

$199,500.00$201,495.00$203,509.95$205,545.05$207,600.50$209,676.50$211,773.26$213,891.00$216,029.91$218,190.21$220,372.11$222,575.83$224,801.59$227,049.60$229,320.10

$16,625.00$16,791.25$16,959.16$17,128.75$17,300.04$17,473.04$17,647.77$17,824.25$18,002.49$18,182.52$18,364.34$18,547.99$18,733.46$18,920.80$19,110.00

$25.25$25.50$25.76$26.02$26.28$26.54$26.80$27.07$27.34$27.62$27.90$28.17$28.45$28.74$29.03

$2.10$2.12$2.15$2.17$2.19$2.21$2.23$2.25$2.28$2.30$2.32$2.35$2.38$2.40$2.42

OPTION PERIODS - (3) 5-Year Options

Term Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/Mo

Option 1

Option 2

Option 3

6/1/20316/1/20326/1/20336/1/20346/1/20356/1/20366/1/20376/1/20386/1/20396/1/20406/1/20416/1/20426/1/20436/1/20446/1/2045

5/31/20325/31/20335/31/20345/31/20355/31/20365/31/20375/31/20385/31/20395/31/20405/31/20415/31/20425/31/20435/31/20445/31/20455/31/2046

$231,613.30$233,929.43$236,268.72$238,631.41$241,017.72$243,427.90$245,862.18$248,320.80$250,804.00$253,312.04$255,845.16$258,403.61$260,987.65$263,597.53$266,233.50

$19,301.11$19,494.12$19,689.06$19,885.95$20,084.81$20,285.66$20,488.51$20,693.40$20,900.33$21,109.34$21,320.43$21,533.63$21,748.97$21,966.46$22,186.12

$29.32$29.61$29.91$30.20$30.51$30.81$31.12$31.43$31.75$32.06$32.38$32.71$33.03$33.37$33.70

$2.44$2.47$2.49$2.52$2.54$2.57$2.59$2.62$2.64$2.67$2.70$2.72$2.75$2.78$2.81

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Investment Highlights


NEW LONG TERM ABSOLUTE NNN SALE-LEASEBACK - ANNUAL RENT INCREASES □ Excellent Rent to Sales Ratio - 2015 Rent to Sales Ratio was 7.8% □ Proven Tenant Concept - The property is leased by Quaker Steak & Lube, a unique

motorsports themed casual dining restaurant with 56 locations throughout the U.S. & Canada.

□ Travel Centers of America Acquisition - Travel Centers of America just closed on its purchase of Quaker Steak & Lube, and has plans to grow Quaker Steak & Lube into a nationally recognized brand and increase the profitability of existing operations.

□ Long Term Lease - A new 15-year lease will commence on close of escrow providing an Investor with 15 years of income.

□ No Landlord Responsibilities - Absolute NNN lease gives the Landlord Zero Management Responsibilities. The tenant takes care of Property Taxes, Insurance, all property maintenance, and all maintenance of the Building.

□ Annual Rent Growth - The lease provides for 1% annual rent increases for the entire 15 year term as well as the (3) 5-year Option Periods.

#4 BEST FRANCHISES IN AMERICA (FORBES) - UNIQUE MOTORSPORTS THEMED CASUAL DINING RESTAURANT

□ Top Franchise - In 2014, Quaker Steak was named the #4 Best Franchise in America by Forbes

□ Successful Operator - Consistently Ranked One of the Best Franchisees in the QSL System □ Excellent Store Sales - Strong Sales in 2015 as well as Trending Upward Sales in 2016 □ New Restaurant Remodel - Franchisee Recently Invested $660,000 to remodel the building,

which included adding a drive thru and replacing the roof.

EXCELLENT DEMOGRAPHICS - STRATEGIC LOCATION - RETAIL SYNERGY □ Strategic Location - Janesville is ideally located at the congruence of I-90 and I-39, US Hwy

14 & 51, and State Hwy 11 & 26, allowing it to pull from a wide-ranging labor pool. □ Excellent Property Visibility - The subject property is located at the offramp of Interstates

39 & 90 (55,000+ CPD), at the intersection of Hwy 14/Humes Rd (16,000 CPD), offering excellent freeway signage and visibility.

□ Retail Synergy - The subject property is located along a major retail corridor. Neighboring tenants include Home Depot, Pier 1 Imports, Holiday Inn Express, Starbucks, Blain’s Farm & Fleet, Texas Roadhouse, Gander Mountain, TJ Maxx, Wildwood Movie Theater, Petco, Michael’s, and many more.

□ Home to Fortune 500 Companies - Janesville is the home to several Fortune 500 headquarters, including Blain’s Farm and Fleet, Swing ‘N Slide, Woodman’s Food Market, Hufcor, and Gray’s Brewing.

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Property Photos


Front of Quaker Steak & Lube

Drive-Up WindowPatio Seating Rear of Building

Additional Seating

Front Entrance


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* Actual Property

AERIAL OVERVIEWQUAKER STEAK & LUBE | 3111 Wellington Ct, Janesville WI 53546

ABSOLUTE TRIPLE-NET (NNN) LEASE Gives the Landlord Zero Management Responsibilities


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N

OVERHEAD VIEW OF QUAKER STEAK & LUBE

I-90/I-39 Offramp

14

14

Humes Rd (16,000 cpd)

Deerf eld Dr

Well

ingto

n Pl


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N

INVESTMENT OPPORTUNITY LOOKING NORTH FROM QUAKER STEAK & LUBE

Holiday Commons Apartments

US Veterans Affairs Dept

To Madison

38 Miles

Deerf eld D

r

Deerf eld Dr

I-90/I-3

9 Off r

amp

I-90/I-39 Onramp

Wellington PlI-90/I-

39 Offram

p14

14


14Humes Rd

55,0

00 c

pd

I-90/I-39 Offramp

26

26

Milton Ave

Milton Ave

E. Rotamer Rd E. Rotamer RdHuntington

Place

*Actual Property To Milwaukee68 Miles


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N. Wright Rd

N

INVESTMENT OPPORTUNITY LOOKING NORTHEAST FROM QUAKER STEAK & LUBE

Deerf eld Dr

Deerf eld Dr

14

14


14

55,000 cpd

I-90/I-39 Offramp

Mid

vale

Dr

Wellingto

n Pl

Wellington Pl

Church of Jesus Christ of Latter

Day Saints

East PointTownhomes

I-90/I-39 Onramp

I-90/I-39 Onramp

Northeast Regional Park

*Actual Property

To Madison 38 Miles

To Milwaukee

68 Miles


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N

INVESTMENT OPPORTUNITY LOOKING EAST FROM QUAKER STEAK & LUBE

Deerf eld Dr

Deerf eld Dr

N. Wright Rd

N. Wright Rd

Wellington Pl

Midvale Dr

14

Humes R

d (16,000 cp

d)

14

55,000 cpd

I-90/I-39 Offramp

Church of Jesus Christ of Latter

Day Saints


Greenbelt EstatesApartments

Gryphon Enterprises Apartments

Kennedy Elementary School

East PointTownhomes

I-90/I-39 Onramp

I-90/I-39 Onramp

New Life Assembly of God

Northeast Regional Park

14

*Actual Property

To Madison

38 Miles

To Milwaukee68 Miles


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LOOKING SOUTHEAST FROM QUAKER STEAK & LUBEINVESTMENT OPPORTUNITY

N

East PointTownhomes

Deerf

eld Dr

Deerf eld Dr

N. Wright Rd

Midvale Dr

Wellington Pl

55,000 cpd

I-90/I-39 Offramp Holiday Commons Apartments

I-90/I-39 OnrampI-90/I-39 Onramp



Kennedy Elementary School

Faith Community

Church

Green Valley Dr

New Life Assembly of God


14

14

MorningsideApartments

Crown RidgeApartments

St. Mary’s Janesville Hospital

N. Wright Rd

N. Wright Rd

1414

Old Path’s Baptist Church

*Actual Property

To Madison38 Miles



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LOOKING SOUTH FROM QUAKER STEAK & LUBEINVESTMENT OPPORTUNITY

N

Deerf

eld D

r

Deerf eld

Dr

Midvale Dr

Wellington Pl

East PointTownhomes

55,000 cpd

I-90/I-

39 Offramp


I-90/I-

39 Onram

p

I-90/I-39 Onramp

Faith Community

ChurchGreenbelt EstatesApartments


14

Humes Rd (16,000 cpd)14

N. Wright Rd

MarshallMiddle School

MorningsideApartments

Crown RidgeApartments

14St. Mary’s Janesville

Hospital

Monroe Elementary

School

E. Milwaukee StE. Milwaukee St

Gre

en V

alle

y D

r

55,000 cpd


E. Racine StPark PlaceApartments

JANESVILLE

Joseph A. Craig High SchoolBlackhawk

Country Club

*Actual Property

To Madison38 Miles

To Milwaukee 68 Miles


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LOOKING SOUTHWEST FROM QUAKER STEAK & LUBEINVESTMENT OPPORTUNITY

N

I-90/I-39 Onramp

55,000 cpd

I-90/I-39 Offramp


Midvale Dr

Faith Community

Church

Green Valley Dr

I-90/I-39 Onramp

55,000 cpd

Deerf eld DrPine Tree Plaza

Deerf eld Dr

East PointTownhomes



Wellington Pl

Wellington Pl

Holiday Dr

N. Pontiac Dr

Trinity Free Christian Church

Jefferson Elementary School 26 Milton Ave

JANESVILLEJoseph A. Craig

High School

MarshallMiddle School

Monroe Elementary

School

Janesville Mall

14


14

To Madison38 Miles

To Milwaukee

68 Miles

*Actual Property


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LOOKING WEST FROM QUAKER STEAK & LUBEINVESTMENT OPPORTUNITY

N

I-90/I-39 Onramp

Mid

vale

Dr

Wellington Pl

Wel

lingt

on P

l

Deerf eld Dr

Dee

rf el

d D

r

Holiday Dr

N. Pontiac Dr N. Pontiac Dr

55,000 cpd

I-90/I-39 Offramp

Holiday Commons Apartments I-90/I-39 Offramp

I-90/I-39 OnrampFaith

Community Church

Hum

es R

d (1

6,00

0 cp

d)

14

Holid

ay D

r

55,000 cpd

East PointTownhomes

Trinity Free Christian Church

Milton AveMilton Ave

Milton Ave26

26

26

Janesville Mall

14

14

Rock CountyCoroner

Pontiac Convention Ctr


KennedyApartments

*Actual Property

To Madison

38 Miles



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LOOKING NORTHWEST FROM QUAKER STEAK & LUBEINVESTMENT OPPORTUNITY

N

Mid

vale

Dr

Wellington Pl

Deerf eld Dr

Wellington Pl

Deerf eld D

r

Holiday Dr

I-90/I3

9 Onra

mp

Pine Tree Plaza

I-90/I-39 Off rampN. Pontiac Dr

N. Pontiac Dr

I-90/I-39 Onramp

I-90/I-39 Offramp

Milton Ave

Hum

es Rd (16,000 cpd)

14

55,000 cpd

14

Milton Ave 26

Deerfeld Dr26

14

Humes Rd

55,000 cpd



KennedyApartments

*Actual Property

To Madison

38 Miles

To Milwaukee 68 Miles


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* Actual Property

TENANT OVERVIEWQUAKER STEAK & LUBE | 3111 Wellington Ct, Janesville WI 53546

PROVEN TENANT CONCEPT Property is Leased by Quaker Steak & Lube - Named 4th Best Franchise in America (Forbes Magazine)

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Tenant Overview


Founded in 1974 and built in an abandoned gas station in Sharon, PA, Quaker Steak & Lube® has expanded to more than 50 locations in 15 states across the United States. The unique décor, including gas station memorabilia, classic cars, motorcycles, race cars and corvettes suspended from the ceilings combined with the crave-able food and high-octane events has afforded The Lube® a cult-like

fan following. Today, Quaker Steak & Lube® has become one of the fastest-growing restaurant chains in the country, and has won hundreds of national and international awards for its wings and more than 25 different wing sauces.

Originally a “cook-your-own-steak” establishment, Quaker Steak’s signature dish is now its chicken wings and the variety of sauces used to season them. A Pittsburgh, Pennsylvania location was featured in the Travel Channel series Man v. Food. The episode’s challenge was to consume six “Atomic” chicken wings, at the time the strongest wings on Quaker Steak’s menu. Host Adam Richman completed the challenge in the allotted time and was awarded a commemorative bumper sticker and a place on the restaurant’s “Atomic Wall of Flame”.

“The Lube®” serves over 80 million wings annually, has bottled sauces for retail sale, has won the title of “Best Wings USA,” and has hundreds of local, national, and international awards for their sauce recipes. In 2014, Quaker Steak was named the #4 Best Francise in America by Forbes, as well as being rated the #34 Fast and Serious Smartest-Growing Brands in the Franchise Times.

• Founded: 1974

• Headquarters: Sharon, PA

• Areas Served: 16 States

• Locations: 56

• Industry: Casual Dining

• Website: www.thelube.com

ABOUT THE OPERATOR

As one of the brand-differentiated restaurants in casual family dining, Quaker Steak & Lube® has been a successful concept for over 40 years.

The unique motorsports themed décor, including race cars suspended from the ceilings, motorcycles, Corvettes and gas station memorabilia, combined with the crave-able

food and high-octane events has created a cult-like following for The Lube ®.

#4 Best Franchise in AmericaForbes - 2014

#34 Smartest-Growing BrandsFranchise Times - 2014

Janesville QSL, LLC is a successful operator of Quaker Steak & Lube restaurants in Southern Wisconsin.

Janesville QSL, LLC is managed and owned by Stingray Hospitality and they currently operate stores in Janesville, Middleton, and New Berlin Wisconsin.

The current president of Stingray Management has been operating Quaker Steak & Lube restaurants since 2004 and has consistently been named the franchisor’s top franchisee in the system year after year. Previously this operator owned and operated a very successful Steak Escape franchise in the Midwest.

Travel Centers of America just closed on the purchase of Quaker Steak & Lube in April 2016. Travel Centers of America is planning to grow Quaker Steak & Lube into a nationally recognized brand and increase the profitability of existing operations.

View Press Release Here

QSL RECENTLY ACQUIRED BY TRAVEL CENTERS OF AMERICA

http://businessjournaldaily.com/travelcenters-of-america-closes-purchase-of-quaker-steak-lube/


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* Actual Property

AREA OVERVIEWQUAKER STEAK & LUBE | 3111 Wellington Ct, Janesville WI 53546

EXCELLENT PROPERTY VISIBILITY Property is Located at Offramp of I-90 / I-39, at the Intersection of Hwy 14 - Excellent Signage & Visibility

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Area Overview


Janesville is Wisconsin’s 10th largest city and is part of the Madison-Janesville-Beloit Combined Statistical Area (CSA). Located on the Rock River in the rolling hills, rich fields and verdant woodlands of scenic south central Wisconsin, Janesville’s long history of strong industry and economic success has helped turn the city into a major commercial and industrial center for the State-Line area. The city is a regional center for trade and services in Rock County (2013 ACS population of 160,331). Janesville serves as a transportation nexus with two Interstates, I- 39 and I-90, US Highways 51 and 14 and State Highways 11 and 26 going through it. The labor pool for Janesville extends significantly beyond the borders of Rock County. Since Janesville’s location is a congruence of Interstates I-39 and I-90, US Highways 14 and 51 and State Highways 11 and 26, the labor pool extends to Madison; south of Rockford, IL; west to almost the Iowa state line; and east to Waukesha, Racine and Kenosha.

JANESVILLE, WISCONSIN

Source: www.growjanesville.com

Chicago

MilwaukeeMadison

Racine

Dubuque

DavenportGary

Because of its far-reaching labor pool and easy access to surrounding major cities, many large businesses see Janesville as an ideal location for their companies. Janesville is the home of the headquarters for Blain’s Farm and Fleet, a three-state retail chain; Woodman’s Food Market, a regional supermarket chain that built its first store in Janesville; Swing’n’Slide, a maker of wood-and-plastic playground equipment; Hufcor (formerly Hough Shade Company), a manufacturer of room dividers that markets internationally; and Gray’s Brewing, maker of boutique beers and soft drinks.

Home to Company Headquarters

Janesville is a dynamic and amenity-rich mid-size community enjoying easy accessibility to larger metropolitan areas including Madison (40 miles), Milwaukee (75 miles) and Chicago (110 miles)

Source: www.growjanesville.com

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Area Overview


Madison is the capital of the State of Wisconsin and the county seat of Dane County. As of July 1, 2013, Madison had an estimated population of 243,344, making it the second largest city in Wisconsin, after Milwaukee, and the 83rd largest in the United States.

The main downtown thoroughfare is State Street, a cultural focal point of the city, which links the University of Wisconsin campus with the State Capitol Square, and is lined with restaurants, espresso cafes and shops.

Source: www.forbes.com/places/wi/madison/

Many businesses are attracted to Madison’s skill base, taking advantage of the area’s high level of education. 48.2% of Madison’s population over the age of 25 holds at least a bachelor’s degree.

Attractive to Businesses

#33 Best Places for Business and Careers

#127 in Cost of Doing Business#44 in Job Growth

#11 in Education

Source: www.forbes.com/places/wi/madison/

Changing Economic InfluencesThe Wisconsin state government and the University of Wisconsin–Madison remain the top two dominant economic influences within the city. However, Madison’s economy today is evolving from a government-based economy to a consumer services and high-tech base, particularly in the health, biotech and advertising sectors.

An estimated 14 million people visit Greater Madison on an annual basis for events such as the Rhythm and Booms celebration, the largest fireworks display in the Midwest as well as the Great Taste of the Midwest craft beer festival, the second longest running such event in North America.

In 2014, visitors contributed $1.9 billion dollars in total business spending, which supported more than 20,405 full-time equivalent jobs in Dane County. In addition, the Greater Madison Convention & Visitors Bureau (GMCVB) has booked 162 conventions, conferences and sporting events that will take place in future years, which will result in more than $54.9MM in future spending in Dane County.

© Soupstock | Dreamstime.com - Skyline Of Madison Wisconsin Photo

MADISON, WISCONSIN

Tourism - The ‘Invisible’ Billion-Dollar Industry

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Demographic Source: Applied Geographic Solutions 11/2015, TIGER Geography page 1 of 1©2016, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2015 Estimates with 2020 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 42.7156/-88.9825RS1

3111 Wellington Pl1 mi radius 3 mi radius 5 mi radius

Janesville, WI 53546

POPU

LATI

ON

2015 Estimated Population 9,161 38,446 65,445

2020 Projected Population 9,143 38,343 65,396

2010 Census Population 8,829 38,092 64,596


Projected Annual Growth 2015 to 2020 - -0.1% -

Historical Annual Growth 2000 to 2015 1.5% 0.6% 0.4%

2015 Median Age 37 39.2 38.4

HOUS

EHO

LDS

2015 Estimated Households 4,097 16,346 27,363

2020 Projected Households 4,191 16,724 28,060

2010 Census Households 3,823 15,700 26,213


Projected Annual Growth 2015 to 2020 0.5% 0.5% 0.5%


RAC

E AN

DET

HNIC

ITY

2015 Estimated White 89.9% 92.8% 91.9%

2015 Estimated Black or African American 2.4% 2.1% 2.3%

2015 Estimated Asian or Pacific Islander 2.3% 1.5% 1.7%

2015 Estimated American Indian or Native Alaskan 0.2% 0.2% 0.3%

2015 Estimated Other Races 5.1% 3.4% 3.9%

2015 Estimated Hispanic 6.2% 4.5% 5.2%

INCO

ME 2015 Estimated Average Household Income $54,421 $65,380 $61,998

2015 Estimated Median Household Income $50,383 $56,827 $52,707

2015 Estimated Per Capita Income $24,345 $27,940 $26,068

EDUC

ATIO

N(A

GE

25+)

2015 Estimated Elementary (Grade Level 0 to 8) 1.8% 1.2% 1.7%

2015 Estimated Some High School (Grade Level 9 to 11) 6.1% 5.0% 6.3%

2015 Estimated High School Graduate 33.7% 32.9% 35.1%

2015 Estimated Some College 25.0% 23.2% 22.5%

2015 Estimated Associates Degree Only 11.9% 10.9% 10.6%

2015 Estimated Bachelors Degree Only 13.9% 17.6% 15.9%

2015 Estimated Graduate Degree 7.7% 9.1% 8.0%

BUSI

NESS 2015 Estimated Total Businesses 359 1,844 3,246

2015 Estimated Total Employees 5,575 25,003 41,720

2015 Estimated Employee Population per Business 15.5 13.6 12.9

2015 Estimated Residential Population per Business 25.5 20.8 20.2BUSI

NES

S

Demographic Source: Applied Geographic Solutions 11/2015, TIGER Geography page 1 of 1©2016, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2015 Estimates with 2020 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 42.7156/-88.9825RS1

3111 Wellington Pl1 mi radius 3 mi radius 5 mi radius

Janesville, WI 53546

POPU

LATI

ON

2015 Estimated Population 9,161 38,446 65,445

2020 Projected Population 9,143 38,343 65,396



Projected Annual Growth 2015 to 2020 - -0.1% -


2015 Median Age 37 39.2 38.4

HOUS

EHO

LDS

2015 Estimated Households 4,097 16,346 27,363

2020 Projected Households 4,191 16,724 28,060



Projected Annual Growth 2015 to 2020 0.5% 0.5% 0.5%


RAC

E AN

DET

HNIC

ITY

2015 Estimated White 89.9% 92.8% 91.9%

2015 Estimated Black or African American 2.4% 2.1% 2.3%

2015 Estimated Asian or Pacific Islander 2.3% 1.5% 1.7%

2015 Estimated American Indian or Native Alaskan 0.2% 0.2% 0.3%

2015 Estimated Other Races 5.1% 3.4% 3.9%

2015 Estimated Hispanic 6.2% 4.5% 5.2%

INCO

ME 2015 Estimated Average Household Income $54,421 $65,380 $61,998

2015 Estimated Median Household Income $50,383 $56,827 $52,707

2015 Estimated Per Capita Income $24,345 $27,940 $26,068

EDUC

ATIO

N(A

GE

25+)

2015 Estimated Elementary (Grade Level 0 to 8) 1.8% 1.2% 1.7%

2015 Estimated Some High School (Grade Level 9 to 11) 6.1% 5.0% 6.3%

2015 Estimated High School Graduate 33.7% 32.9% 35.1%

2015 Estimated Some College 25.0% 23.2% 22.5%

2015 Estimated Associates Degree Only 11.9% 10.9% 10.6%

2015 Estimated Bachelors Degree Only 13.9% 17.6% 15.9%

2015 Estimated Graduate Degree 7.7% 9.1% 8.0%

BUSI

NESS 2015 Estimated Total Businesses 359 1,844 3,246

2015 Estimated Total Employees 5,575 25,003 41,720

2015 Estimated Employee Population per Business 15.5 13.6 12.9

2015 Estimated Residential Population per Business 25.5 20.8 20.2

RAC

E &

ETH

NIC

ITY

INCO

ME

HO

USE

HO

LDS

POPU

LATI

ON

1 Mile 3 Miles 5 Miles


Demographics

* Actual Property


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Lee & Associates hereby advises all prospective purchasers of Single-Tenant Net-Leased property as follows:

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

As the Buyer of a single-tenant property, it is the Buyer’s responsibility to independently confrm 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. Lee & Associates 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 a single-tenant property to you depends on factors that should be evaluated by you and your tax, fnancial and legal advisors. Buyer and Buyer’s tax, fnancial, legal, and construction advisors should conduct a careful, independent investigation of any single-tenant property to determine to your satisfaction withthe suitability of the property for your needs.

Like all real estate investments, this investment carries signifcant risks. Buyer and Buyer’s legal and fnancial advisors must request and carefully review all legal and fnancial 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 Lee & Associates and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this single-tenant property.

* Actual Property

Exclusively Listed by:Ryan Barr

[email protected]

Ryan Bennett760.448.2449

[email protected]

www.nnninvestmentgroup.com

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