$3,683,120 | 7.63% cap sherwood way san angelo tx-omp.pdflogan’s roadhouse nnn leased offering |...

Jacob Abusharkh

Managing Director415.269.2474

[email protected] BRE#01385529

www.TheKaseGroup.com

SVN The Kase Group

Logan’s Roadhouse NNN Leased Offering | San Angelo, TX

$3,683,120 | 7.63% CAP

Offering Highlights

Long Term NNN Lease

Zero Landlord Obligations

Corporate Guaranty

1.75% Annual Increases in Rent

Sits in the Middle of a Major Retail Trade Area with Neighboring Retailers Including Home Depot, Walmart, Sam’s Club, Target, Best Buy, Academy Sports, Tractor Suppy, Hobby Lobby, H-E-B, PetSmart, Ross, Lowe’s, and Sunset Mall, a Major Regional Shopping Mall

Representative Photo

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Logan’s Roadhouse 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

Logan’s Roadhouse NNN Leased OfferingSVN The Kase Group



CONTENTS

PROPERTY OVERVIEW

Executive Summary

Tenant Summary

FINANCIAL OVERVIEW

Financial Summary

LOCATION OVERVIEW

Location Map

Aerial Photo

DEMOGRAPHICS

Demographics Analysis

Demographics Map




PROPERTY OVERVIEW

Executive Summary

Tenant Summary

Investment OverviewSale Price: $3,683,120

CAP Rate: 7.63%

Building Size: 8,160 SF

Lot Size: 1.78 Acres

Market: San Angelo

OfferingThe subject offering is a fee simple interest in a long term NNN leased Logan’s Roadhouse. The lease calls for zero landlord obligations and is corporately guaranteed. There are annual increases in rent equal to the lesser of 1.75% or two times CPI, not less than 0.35%. Beyond the initial term, there are five 5 year options to renew. The asset benefits greatly from its strong position in the middle of San Angelo’s major retail trade area with neighboring retailers including Home Depot, Walmart, Sam’s Club, Target, Best Buy, Academy Sports, Tractor Suppy, Hobby Lobby, H-E-B, PetSmart, Ross, Lowe’s, and Sunset Mall, a major regional shopping mall anchored by Dillard’s, Bealls, Sears, and JCPenney.

AreaSan Angelo is a city in the state of Texas and the county seat of Tom Green County in West Central Texas. According to a 2013 Census estimate, San Angelo has a total population of 97,492. The city is the principal city and center of the San Angelo metropolitan area, which has a population of 111,823. San Angelo is home to Angelo State University, historic Fort Concho, and Goodfellow Air Force Base.

4384 Sherwood Way | San Angelo, TX 76901

Executive Summary




Tenant OverviewLogan’s Roadhouse is a chain of restaurants that was founded in 1991 in Lexington, Kentucky and in 1999 became a wholly owned subsidiary of the publicly held CBRL Group, Inc (which also owns Cracker Barrel). On December 6, 2006, CBRL Group sold Logan’s Roadhouse to affiliates of Bruckmann, Rosser, Sherrill & Co., Canyon Capital Advisors LLC, and Black Canyon Capital LLC for $486 million. In 2010, private equity firm Kelso & Company acquired the company. Its main office is located in Nashville, Ten-nessee. There are over 210 company operated and 26 franchised Logan’s Roadhouse locations throughout 23 states and growing.

The chain uses retro style decorations, and provides free buckets of peanuts that come at each table. Some of the Logan’s establishments have locality-inspired decor and artwork.

On February 20, 2013, Mike Andres, a former McDonald’s vice-president and former CEO of Boston Market, replaced Tom Vogel as CEO.

Corporate InformationOwnership: Private

Founded: 1991, Lexington, KY

Headquarters: Nashville, TN

No. of Locations: 210+

Owner: Kelso & Company

Website: www.logansroadhouse.com

Tenant Summary




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FINANCIAL OVERVIEW

Financial Summary

4384 Sherwood Way | San Angelo, TX 76901 $3,683,120 | 7.63% CAP

CAP Rate: 7.63%

Building SF: 8,160

Land Acres: 1.78

Lease Type: NNN

Type of Ownership: Fee Simple

Estimated Annualized Operating Data Current Dec 2014 Dec 2015 Dec 2016 Dec 2017

Net Operating Income $276,234 $281,068 $285,987 $290,992 $296,084

CAP Rate 7.50% 7.63% 7.76% 7.90% 8.04%

Tenant Name GLA Lease Begin Lease End Annual Rent Increases Options

Logan’s Roadhouse 8,160 SF 11/30/2006 11/29/2026 $281,068 Rent increases Tenant has

annually, lesser five 5 year

of 1.75% or two options

times CPI, to renew

minimum of 0.35%

Financial Summary




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LOCATION OVERVIEW

Location Map

Aerial Photo

Location Map




CONFIDENTIAL OFFERING MEMORANDUM

Location Maps

1www.TheKaseGroup.comAll 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.

Aerial Photo

Logan’s Roadhouse NNN Leased Portfolio Offering






DEMOGRAPHICS


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

1 257 4000.0% 0.6% 0.5%

608 3,260 6,3157.8% 7.0% 8.6%

4384 Sherwood Way | San Angelo, TX 76901 For Sale | Subject To Offer

* Demographic information provided by BuildOut, Inc.

3,261 19,114 29,662

2.4 2.4 2.5

$167,942 $123,515 $114,864

$58,836 $58,936 $54,249

32.2 33.9 34.331.1 32.7 32.9

33.5 35.0 35.6

207 645 8912.7% 1.4% 1.2%

166 1,547 3,1052.1% 3.3% 4.2%

0 15 150.0% 0.0% 0.0%

6,626 39,788 61,23285.1% 85.3% 83.1%

7,790 46,659 73,668

1,915 12,659 26,42024.6% 27.1% 35.9%

1 Mile 3 Miles 5 Miles


Demographics Report



3530 N Governor Williams Hwy | Darlington, SC 29540

RADIUS MAP

5 miles 7 miles 10 miles

Total Population 6,523 16,087 36,656

Total Number of Households 2,375 6,051 13,934

Average Houeshold Income $54,646 $49,412 $46,526

Median Age 38.8 38.6 38.5

*Demographic information provided by BuildOut, LLC


Demographics Map



* Demographic information provided by BuildOut, LLC

4384 Sherwood Way | San Angelo, TX 76901 Radius Map




Average Household Income $58,836 $58,936 $54,249

Median Age 32.2 33.9 34.3

Demographics Map





Demographics Map



* Demographic information provided by BuildOut, LLC

4384 Sherwood Way | San Angelo, TX 76901 Radius Map




Average Household Income $58,836 $58,936 $54,249

Median Age 32.2 33.9 34.3

$3,683,120 | 7.63% cap sherwood way san angelo tx-omp.pdflogan’s roadhouse nnn leased offering |...

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