dunkin' donuts | nnn | sale-leaseback - constant...

DUNKIN' DONUTS | NNN | SALE-LEASEBACKLargo, FL

P R E S E N T E D B Y

Joseph F. RussoDirector – Net Leased Properties GroupDir: (407) 557-3843Cell: (407) [email protected]

Douglas T. KinsonDirector – Net Leased Properties GroupDir: (407) 557-3842Cell: (407) [email protected]

Offering Memorandum

mailto:[email protected]


DUNKIN' DONUTS | NNN | SALE-LEASEBACK

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OFFERING SUMMARY

Absolute Net Lease | No Landlord Responsibilities

Sale-Leaseback

New 15 Year Lease with Five - Five Year Options

Attractive Rental Increases

Excellent Visibility and Access

Centrally Located on Ulmerton Road, a Major Connector Road to I-275

Florida is a NO STATE INCOME TAX State

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to offer this Dunkin’ Donuts located at 7030 UlmertonRoad in Largo, Florida.

The Property contains 2,124 square feet of building space and is situated on 0.97±acre. The building is the 2015 concept model that will be renovated in 2017. TheProperty is centrally located on Ulmerton Road (SR 688), a major east-west artery,which has over 50,000 AADT. The Property is just 0.78 mile west of US 19 and hasdirect access to I-275 five miles east which connects to Tampa.

The lease is an absolute NNN lease with no Landlord responsibilities. Rent increasesof 10% begin year 11 and then every five years thereafter. The tenant is a Dunkin’Donuts/Baskin Robbins franchisee that currently owns and operates 46 locations inFlorida, Alabama and Louisiana. The tenant has plans to open an additional 70locations in all markets by the end of 2017.

Largo, which began as a rural farming community, is today the third largest city inPinellas County. There are over 90,000 residents within a three mile radius of theproperty. Largo is part of the Tampa Bay/St. Petersburg/Clearwater MSA which hasan estimated population of 3,030,953 as of January 2017.

INVESTMENT OVERVIEW

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OFFERING SUMMARY

Price $2,047,619

Net Operating Income $107,500

Capitalization Rate – Current 5.25%

Price / SF $964.00

Rent / SF $50.61

Lease Type Absolute Net

Gross Leasable Area 2,124 SF

Year Built / Renovated 2008 / 2017

Lot Size 0.97 acre(s)

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EXECUTIVE SUMMARY

OFFERING SUMMARY

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OFFERING SUMMARY

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2015 Estimate Pop 14,416 91,804 240,948

2010 Census Pop 14,137 89,689 234,457

2015 Estimate HH 6,546 40,263 107,896

2010 Census HH 6,418 39,312 104,950

Median HH Income $40,045 $42,217 $42,228

Per Capita Income $23,499 $26,343 $26,244

Average HH Income $51,697 $58,580 $57,756

Absolute Net Lease | No Landlord

Responsibilities

Sale-Leaseback

New 15 Year Lease with Five - Five Year Options

Attractive Rental Increases

Excellent Visibility and Access

Centrally Located on Ulmerton Road, a Major

Connector Road to I-275


INVESTMENT HIGHLIGHTS

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TENANT SUMMARY

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Vik Patel, the CEO of Tampa-based Purple Square Management Co. currently owns andoperates 46 Dunkin Donuts/Baskin Robbins locations in the following states; Florida, Alabamaand Louisiana. While the majority of the stores in Florida are in Tampa Bay, they have alsoincreased their presence in the Panama City and Pensacola markets. In Alabama and Louisiana,they are in the Dothan, Baton Rouge and New Orleans markets respectively. Purple Square hasplans to open an additional 70 locations in all markets by the end of 2017.

Founded in 1950, Dunkin' Donuts is America's favorite all-day, everyday stop for coffee andbaked goods. Dunkin' Donuts is a market leader in the hot regular/decaf/flavored coffee, icedcoffee, donut, bagel and muffin categories. Dunkin' Donuts has earned the No. 1 ranking forcustomer loyalty in the coffee category by Brand Keys for nine years running. Dunkin’ Brands’nearly 100 percent franchised business model included more than 12,000 Dunkin’ Donutsrestaurants and more than 7,700 Baskin-Robbins restaurants. Based in Canton, Massachusetts,Dunkin' Donuts is part of the Dunkin' Brands Group, Inc. (Nasdaq: DNKN) family of companies.

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LOCATION OVERVIEW

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7030 Ulmerton Road, Largo, FL 33771

Absolute Net Lease

Sale-Leaseback

Excellent Access and Visibility

Centrally Located on Ulmerton Road

Easy Access to I-275


Marcus & Millichap is pleased topresent this proposal for the Dunkin'Donuts located at 7030 Ulmerton Roadin Largo, Florida.

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMEDUNKIN' DONUTS - LARGO

PRICING AND VALUATION MATRIX

PROPERTY NAME

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LOCATION OVERVIEW


AERIAL PHOTO

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PROPERTY SUMMARY

OFFERING SUMMARY

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OFFERING SUMMARY

$964.04

THE KINSON | RUSSO TEAM

Charles Knighton IIMARCUS & MILLICHAP CAPITAL CORPORATIONDIRECTOR, DEBT & STRUCTURED FINANCING

Renee EllisMARKETING DIRECTOR/LICENSED ASSISTANT

Christina Cintron-GrantOPERATIONS MANAGER

JOSEPH F. RUSSODIRECTOR, NET LEASED PROPERTIES GROUP

DOUGLAS T. KINSONDIRECTOR, NET LEASED PROPERTIES GROUP

MARKETING TEAM

More Than 1,600 Investment Professionalsin Offices Throughout the U.S. and Canada

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Natasha YoungBROKERAGE ASSISTANT

MARCUS & MILLICHAP MARKETING TEAM


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LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMEINTERSTATE COMMERCE PARK | TRANSCORE

PRICING AND VALUATION MATRIX

PROPERTY NAME

THE KINSON | RUSSO, NET LEASE GROUP

Douglas T. KinsonD: (407) 557-3842C: (407) [email protected]: FL SL611884

Joseph F. RussoDirector

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Overview

The Kinson | Russo, Net Lease Group, was formed by Doug Kinson, Joe Russo and staff and iscommitted to utilizing their combined 45 years of investment sales and development experience forthe creation and preservation of wealth for their clients.

Douglas T. Kinson, Director

Doug Kinson is an experienced real estate executive with over 20 years of experience in brokerage,development, sales and leasing. Throughout his career, Doug has worked with owners and investorslooking to maximize their returns through the application of proven real estate strategies. He hasrecently closed a variety of net lease transactions on behalf of both buyers and sellers that includeWalgreens, Taco Bell, Burger King, Captain D’s, Wells Fargo, and Starbucks.

Doug’s focus at Marcus & Millichap is exclusively on assisting owners, investors and developers withnet lease investments throughout the State of Florida and across the U.S. Prior to joining Marcus &Millichap, Doug served as Director of Net Lease Investments at Calkain Companies and Atlantic RetailProperties, where he successfully negotiated net lease transactions on behalf of his nationalclients. Doug is a graduate of the University of Wisconsin with both a Master’s in BusinessAdministration and Bachelor of Science degrees.

Joseph F. Russo, Director

Joe Russo is a Florida real estate professional with over 25 years of experience as a broker, developer,retailer and investor in commercial retail projects and NNN single tenant properties. Joe has closeddeals involving more than 3 million square feet of retail projects, including life style/town centers,neighborhood community centers and NNN single tenant projects, having an aggregate value of $275million.

Joe prides himself on his collaborative approach and team building with other agents within and outsideof the Marcus & Millichap platform in order to accomplish his clients’ goals to create and preservewealth. With degrees from the University of Texas (B.B.A., with honors) and the University of HoustonCollege of Law (J.D.) and with his diverse investment sales and development background, Joe brings toMarcus & Millichap a wide range of vision, capabilities and expertise to service clients.

Joseph F. RussoD: (407) 557-3843C: (407) [email protected]: FL SL677351

DUNKIN DONUTS | NNN



DUNKIN' DONUTS - LARGOLargo, FLACT ID Y0310001

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Non-EndorsementsMarcus & Millichap Real Estate Investment Services of Florida, Inc. ("Marcus & Millichap") is not affiliated with,sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence ofany corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by,said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commerciallisting of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about thislisting to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BECONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but wemake no representations or warranties, express or implied, as to the accuracy of the information. References tosquare footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus &Millichap. All rights reserved.

Exclusively listed by: Investment Sales:

OFFICES NATIONWIDEwww.marcusmillichap.com

Joseph F. RussoDirector – Net Leased Properties GroupOrlando OfficeDir: (407) 557-3843Cell: (407) 453-0252Fax: (407) [email protected] License: SL677351

Douglas T. KinsonDirector – Net Leased Properties GroupOrlando OfficeDir: (407) 557-3842Cell: (407) 625-9539Fax: (407) [email protected] License: SL611884



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