no warranty or representation, express or implied, is made as to the accuracy of the information...
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No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals
1010 Northern Blvd, Ste 208Great Neck, NY 11021PH: 516-482-0220FX: [email protected]
former Lone Star Steakhouse
INVESTMENT SUMMARY
• Sale Price: $1,854,545
• Cap Rate: 8.25%
• Building Size: 5,500 Sq. Ft.
• Land Size: 1.26 ac
• Seats: 201
• Opening Date: TBT (2013)
• NOI: $153,000
• Lease Term: 20 years + 4 five year options to renew
• Lease Type: Absolute NNN
• Increases: 1% increases annually
• Options: 4 x 5 years with same increases
TENANT INFORMATION
This new Perkins Restaurant is operated by a franchisee with more than 23 years of experience with Perkins, both as an operator and a Senior Area Director, with responsibility for 35-50 stores. Currently operating five profitable units and planning to open this 6th store in 2013 Offering a personal guarantee.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals
1010 Northern Blvd, Ste 208Great Neck, NY 11021PH: 516-482-0220FX: [email protected]
Demographics (Ankeny, IA)
2012 5 Mile Population 66,457
Avg HH Income $77,207
Traffic Count 21,000 vpd
• Great location on major commercial thoroughfare just west of I-35 (exit 90) next to Super Walmart and Olive Garden• Other near-by national retailers include Kohls, Super Target, Home Depot, Menard’s, Sportsman’s Warehouse, TJ Maxx &
the Delaware Shopping Center (150K)• New location of 260,000 sf Mills Fleet & Farm - suppliers for
home, garden, hunting & farm
LOCATION INFORMATION
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals
1010 Northern Blvd, Ste 208Great Neck, NY 11021PH: 516-482-0220FX: [email protected]
Ankeny Fire
Department
AREA INFORMATION
• Ankeny, in Polk County, IA is a fast growing up-scale suburb, seven miles from the capital, Des Moines• Population increased 68% from 27,117 (2000) to 45,582 (2010) and is expected to reach 55,000 by 2020 • Average Household income is over $77K with only 2.8% below the poverty level• Major private employers are John Deere’s Des Moines Works, Hy-Vee Distribution Center, Sysco Foods, Tone’s Spices, Praxair and Mrs. Clark’s Food• Public employers include the Ankeny School District and the Des Moines Community College
1010 Northern Blvd, Ste 208Great Neck, NY 11021PH: 516-482-0220FX: [email protected]
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals
PERKINS FAMILY RESTAURANT & BAKERY
•Founded in 1958 in Ohio as a single pancake house
•Now located in 34 states and 5 provinces
•Operating 480 units; 319 franchised and 161 corporate
•25,000 employees
•Serving high quality, value-priced food
•Open for breakfast, lunch & dinner