svn the kase group - jesse lee graves ave el... · svn the kase group ... el cajon is a city in san...

Jacob Abusharkh

Managing [email protected]

BRE#01385529

Louis HIcks

Investment [email protected]

BRE#01362093

www.TheKaseGroup.com

SVN The Kase Group

Black Angus Steakhouse NNN Leased Offering | El Cajon, CA (San Diego)

$6,375,000 | 5.34% CAP

Offering Highlights

Corporate Absolute NNN Leased Black Angus Steakhouse with over 7.5 Years Remaining on Initial Term

Zero Landlord Obligations

100% Fee Simple Interest

Scheduled Increases - 5.88% Cap in Oct 2016

Asset Well Situated Near Major Retail Corridor Across the Street from Target

Strong Demographics - 328,343 Residents in a Five-Mile Radius

Year Over Year Sales Tracking at +15%

Representative Photo

Black Angus Steakhouse NNN Leased Offering


All Sperry Van Ness® Offices Independently Owned & OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for correctness.



SVN The Kase Group

The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photo-copied or disclosed to any third party without the written consent of Sperry Van Ness or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Property Owner (“Owner”) in connection with the sale of the Property is the Sper-ry Van Ness Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Of-fering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Bro-chure must be returned to Sperry Van Ness.

Neither the Sperry Van Ness Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and noth-ing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Sperry Van Ness with respect to the projected future perfor-mance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the Sperry Van Ness Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those repre-sentations and warranties that may be made to it in any final,

fully executed and delivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the Sperry Van Ness Advisor, nor any of their officers, employees, representatives, independent contractors or af-filiates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expres-sions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms ac-ceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowl-edged the foregoing and agreed to release the Owner and the Sperry Van Ness Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

Disclaimer | Confidentiality

Black Angus Steakhouse NNN Leased OfferingSVN The Kase Group



CONTENTS

PROPERTY OVERVIEW

Offering Highlights

Executive Summary

Tenant Summary

FINANCIAL OVERVIEW

Financial Summary

Growth Chart

LOCATION OVERVIEW

Location Maps

Aerial Photo

DEMOGRAPHICS

Demographics Report

Demographics Map




PROPERTY OVERVIEW

Offering Highlights

Executive Summary

Tenant Summary

Corporate Absolute NNN Leased Black Angus Steakhouse with over 7.5 Years Remaining on Initial Term

Zero Landlord Obligations

100% Fee Simple Interest

Scheduled Increases - 5.88% Cap in Oct 2016

Asset Well Situated Near Major Retail Corridor Across the Street from Target

Strong Demographics - 328,343 Residents in a Five-Mile Radius

Year Over Year Sales Tracking at +15%

Offering Highlights




JC

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Investment OverviewSale Price: $6,375,000

CAP Rate: 5.34%

Net Operating Income: $340,638

Building Size: 10,300 SF

Year Built: 1974 Build/2005 Renovation

PropertyThe subject offering is the fee simple interest in a Corporate Black Angus Steakhouse NNN leased property. There are over 7.5 years remaining on the initial term of the absolute NNN lease, which provides for zero landlord obligations. There are scheduled CPI rental increases every 5 years capped at 10%. The asset is well situated across the street from a Target Superstore, and enjoys strong demographics.

LocationEl Cajon is a city in San Diego County, California. Nestled in a valley surrounded by mountains, the city has acquired the nickname of “The Big Box”. Its name originated similarly, from the Spanish phrase “el cajón”, which means “the box” or “the drawer.”

1000 Graves Avenue | El Cajon, CA 92021

Executive Summary




Representative Photo

JC

Highlight

JC

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JC

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JC

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Tenant OverviewFounded in 1964, Black Angus has a long history of providing customers the best steak dinners at affordable prices. The company now operates 45 locations in Alaska, Arizona, California, Hawaii, New Mexico, and Washington. Some locations also carry a high-concept, branded Bulls Eye Sports Bar that has distinguished the chain from its competitors. Black Angus has received numerous awards including the 2014 Certificate of Excellence (Trip Advisor), 2014 Best of the Inland Empire (Inland Empire Magazine), 2012 Best Steakhouse and Best Happy Hour (Los Angeles Times), and 2012 Kid Friendly Opentable Diner’s Choice award. For more information, visit www.blackangus.com.

There are currently 44 Black Angus locations across six U.S. States: California, Alaska, Washington, New Mexico, Arizona and Hawaii.

Corporate InformationHeadquarters: Los Altos, CA

Founded: 1964

Locations: 45

Revenue: $413 Million (2007)

Website: www.blackangus.com

Tenant Highlights45 Locations Across 6 States

$413 Million in Revenue

Tenant Summary







FINANCIAL OVERVIEW

Financial Summary

Growth Chart

1000 Graves Avenue | El Cajon, CA 92021 $6,375,000 | 5.34% CAP

CAP Rate: 5.34%

Building SF: 10,300

Year Built: 1974/2005

Type of Ownership: Fee Simple

Tenant Name GLA Lease Begin Lease End Annual Rent Increases Options

Black Angus 10,300 SF 10/30/2006 6/01/2023 $340,638 CPI Rental Increases Three 5 Year

Steakhouses, LLC Every 5 Years Options to

Capped at 10% Renew

Operating Summary Current-2016 2016-2021 2021-2023 Option 1 Option 2 Option 3

Net Operating Income $340,638 $374,702 $412,172 $453,389 $498,728 $548,601

CAP Rate 5.34% 5.88% 6.47% 7.11% 7.82% 8.61%

Financial Summary




* There are CPI rental increases every 5 years capped at 10%. The above assumes a 10% increase in October 2016 and every 5 years thereafter. Purchaser will need to conduct their own investigation during due diligence in regards to increases. Chart reflects option years starting in 2024.

Growth Chart







LOCATION OVERVIEW

Location Maps

Aerial Photo

2. LOCATION OVERVIEW

Location Maps

All Sperry Van Ness® Offices Independently Owned & Operated.

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

www.TheKaseGroup.com9

Location Maps




Aerial Photo







DEMOGRAPHICS

Demographics Analysis

Demographics Map

Total Population

Total Number of Households

Total Number of Persons per Household

Average House Value

Average Household Income

Median Age

Median Age - Male

Median Age - Female

Total Population - White

Total Percent - White

Total Population - Black

Total Percent - Black

Total Population - Asian

Total Percent - Asian

Total Population - Hawaiian

Total Percent - Hawaiian

Total Population - Indian

Total Percent - Indian

Total Population - Other

Total Percent - Other

Total Population - Hispanic

Total Percent - Hispanic

1,808 2,755 4,3060.6% 0.6% 0.6%

13,496 19,570 40,2754.1% 4.2% 5.4%

1000 Graves Ave | El Cajon, CA 92021 For Sale | $6,812,760

* Demographic information provided by BuildOut, Inc.

117,025 170,248 260,251

2.8 2.8 2.9

$429,107 $442,896 $457,435

$74,243 $75,820 $75,178

36.9 37.0 35.935.9 35.9 34.9

38.0 38.1 36.9

12,838 21,140 59,9443.9% 4.5% 8.0%

13,757 24,527 58,8844.2% 5.2% 7.9%

1,435 2,066 3,9600.4% 0.4% 0.5%

267,957 375,834 542,38281.6% 79.9% 72.8%

328,343 470,319 745,406

73,202 106,172 191,35522.3% 22.6% 25.7%

5 Miles 7 Miles 10 Miles

4. DEMOGRAPHICS

BLACK ANGUS Demographics Report




Demographics Analysis




4. DEMOGRAPHICS

BLACK ANGUS Demographics Map




* Demographic information provided by BuildOut, LLC

1000 Graves Ave | El Cajon, CA 92021 Radius Map

5 Miles 7 Miles 10 Miles

Total Population 328,343 470,319 745,406

Total Number of Households 117,025 170,248 260,251

Average Household Income $74,243 $75,820 $75,178

Median Age 36.9 37.0 35.9

Demographics Map





All Sperry Van Ness® Offices Independently Owned & Operated© 2013 All rights reserved

PRESENTED BY

Jacob AbusharkhManaging Director

[email protected]

BRE#01385529

Louis HicksInvestment Advisor

[email protected]

BRE#01362093

SVN The Kase Group

svn the kase group - jesse lee graves ave el... · svn the kase group ... el cajon is a city in san...

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