new 5062 murfreesboro road, la vergne, tn 37086 · 2017. 5. 10. · population 1-mile 3-mile 5-mile...
TRANSCRIPT
Offering Memorandum
$1,992,000 | Investment Details
❖ 32,000 +/- Vehicles Pass in Front of the Site Daily
❖ 2% Annual Rent Bumps to Hedge Against Inflation
❖ Located on the Main Thoroughfare that Heads Straight to Nashville
❖ Located in Between Two Large Housing Subdivisions
❖ Region’s Retail Destination Hub
❖ Neighbor to Many National (Fortune 500) Distribution &
Warehousing Centers
❖ New 2017 True NNN 20 Year Lease Construction
❖ Tax Free State – No Income Tax File Photo
5062 Murfreesboro Road, La Vergne, TN 37086
TENANT OVERVIEW
❖ Tenant Trade Name – Checker’s Burgers & Fries
❖ Ownership – Private
❖ Lease Guarantor – Franchise & Personal
❖ No Of Locations – 800+
❖ Headquarters – Tampa, FL
❖ Website – www.checkers.com
File Photo
A v a i l a b l e t o g e t h e r o r s e p a r a t e l y
Checker’s construction scheduled to commence.
Checker's Drive-In Restaurants, Inc operate 800 + locations, located
predominantly in the Midwest and southeastern states. Checkers Drive-In
Restaurants, Inc., is one of the largest chains of double drive-thru restaurants in
the United States. The company operates Checkers and Rally's restaurants in 28
states and the District of Columbia. Originally separate companies serving
different geographic areas with Checkers serving the Southeast and Rally's
serving the Midwest, Checkers and Rally's merged in August 1999. The merged
company is headquartered in Tampa, Florida. Checkers and Rally's had similar
concepts, being almost exclusively drive-thru with very little seating. After the
merger, Rally's began redesigning its restaurants to follow the Checkers look.
Today, Checkers and Rally's restaurants look nearly identical, the only major
difference being the name on the sign.
TENANT INFO
Overview
Price $1,992,000
Gross Leasable Area 1,100 SF
Lot Size 0.65 Acres
Net Operating Income $122,497
CAP Rate 6.15%
Year Built 2017
Lease Abstract
Lease Type NNN
Lease Term 20 Years
Lease Start Scheduled to Open 3rdQ 2017
Renewal Options 3 Five-Year Options
Increases 2% annual escalations**
Roof and Structure Tenant Responsible
THE OFFERING
Annualized Operating Data
Lease Term Annual Rent
Current* $122,497
Option 1 $124,947
Option 2 $127,446
Option 3 $129,995
* Rent subject to adjust at completion of construction. Rent set t0 9% of total construction costs.** Increases in option period set to FMV but not lower than previous rental rate.
Location Map
AREA MAPPING
Top Double Drive
Thru Chain
$658 millionStore Sales
800+Locations
La Vergne’s Largest Employers
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES *
Quanta Service Nashville LLC 5,011
Quanta 5,006
Ingram Book Company (Lightning Source)
2,048
Technicolor Home Entertainment
1,300
Cinram Group Inc 1,200
Kimberland Swan Holdings Inc 825
MI Windows and Doors Inc 500
Kroger 447
Rush Truck Center Nashville 351
Ammed Homecare Pharmacy 350
Tristar Health Systems 348
Ingram Entrmt Holdings Inc 300
Population 1-Mile 3-Mile 5-Mile
2011 5,309 40,840 98,666
2016 6,158 46,920 112,482
2021 6,051 64,026 127,448
2016
Household
Incomes
1-Mile 3-Mile 5-Mile
Average $63,307 $65,214 $64,078
Median $48,953 $53,957 $50,697
La Vergne, Tennessee
La Vergne is a city in Rutherford County, Tennessee, which lies within the Nashville
Metropolitan Statistical Area (MSA). The largest subdivision of homes in the state of
Tennessee, Lake Forest Estates, is located in La Vergne, encompassing more than 3,100
homes. La Vergne hosts one of two United States printing plants for the multinational
publishing company Lightning Source and serves as the company's headquarters. Taco
John’s is located on the main thoroughfare that heads straight into Nashville just 20
minutes northwest of the subject site. Traffic is exceptionally high (32,000 vehicles pass in
front of the site daily). The subject site is also located in between two large housing
subdivisions. In addition to a peppering of national retailers in the immediate area
including: Walgreens, Krogers, SunTrust Bank, KFC, Burger King, McDonalds, Little Cesar's,
Taco Bell, Advance Auto, Sav-A-Lot, Rite Aid, Dollar Tree, Subway, CVS, Bank of America,
Hardee’s, Waffle House, and Quality Inn & Suites, there are also many national companies
who have their distribution and/or warehousing centers in the immediate area, including:
Parthenon Metal Works, FedEx Freight Distribution Center, CinoMax, US Cold Storage,
Hennessy Industries Bottling Plant, Tennessee Book Distribution Center, Bridgestone
Firestone Plant, Saks Fifth Ave Distribution Warehouse, Beacon Transport Center, and a
Coca-Cola Bottling Plant just to name a few.
Location Map
DEMOGRAPHICS
CREATED ON MARCH 30, 2017
1 Miles 3 Miles 5 Miles
POPULATION
2021 Projection 6,051 54,026 127,448
2016 Estimate 5,158 46,920 112,482
2010 Census 4,581 41,637 100,077
2000 Census 2,290 21,354 62,234
INCOME
Average $63,307 $65,214 $64,078
Median $55,563 $57,214 $54,558
Per Capita $23,381 $22,322 $24,090
HOUSEHOLDS
2021 Projection 2,299 18,616 47,924
2016 Estimate 1,905 16,058 42,244
2010 Census 1,695 14,309 37,648
2000 Census 809 7,926 24,483
HOUSING
2016 $144,088 $149,792 $157,060
EMPLOYMENT2016 Daytime Population
5,612 47,322 89,923
2016 Unemployment 4.23% 4.23% 4.14%
2016 Median Time Traveled
32 31 30
RACE & ETHNICITY
White 47.28% 54.06% 53.46%
Native American 0.14% 0.17% 0.12%
African American 36.88% 30.50% 31.94%
Asian/Pacific Islander 4.74% 3.68% 3.70%
$63,3071-mile radius average Household Income
127,4485-mile radius population
54,9645-mile radius number of households
File Photo
Lior Regenstreif
Senior Managing Director Investments
Senior Director, Net Leased Properties Group
5062 Murfreesboro Rd, La Vergne, TN 37086
Presented By Tel: (818) 212-2730
Fax: (818) 212-2710
License: CA #01267761