APPLEBEE'S CALHOUN, GA - LoopNet
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APPLEBEE’S CALHOUN, GA
20-YEAR NNN APPLEBEE’S WITH
ANNUAL RENTAL INCREASES,
OPERATED BY A 122-UNIT FRANCHISEE
2
Overview
APPLEBEE’S
1008 HIGHWAY 53 SE, CALHOUN, GA 30701
$2,973,590 6.15%
PRICE CAP
LEASABLE SF LAND AREA LEASE TYPE
5,114 SF 1.51 NNN
LEASE EXPIRATION YEAR BUILT PARKING
02/28/2033 2014 82 SPACES
Located along I-75, Calhoun’s main thoroughfare (64,000+ VPD)
Long-term lease with favorable rent increases
Operated by a 122-unit Applebee’s Franchisee
Adjacent to 50+ store Calhoun Outlet Marketplace
Calhoun’s 10 year job growth projection is 38.82%
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
3
Investment Highlights
Contact the
team
THE OFFERING provides an investor with the opportunity to acquire an Absolute NNN
Applebee’s situated along the I-75, and within Calhoun’s primary retail corridor. There are
over 15 years remaining in the primary term, and the Landlord benefits from 1% annual rental CHRIS PETERS
escalations and six 5-year extension options. This Applebee’s is operated by Neighborhood cpeters@capitalpacific.com
Restaurant Partners, LLC, part of the NRP Franchisee Family which has 122 locations in PH: 415.274.2703
Alabama, Florida, Georgia, and Texas. CA BRE# 01339983
THE SUBJECT PROPERTY is an outparcel to the Fairfield Inn & Suites by Marriott, and CHRIS KOSTANECKI
benefits from clear visibility and access from I-75. Surrounding retail includes the Calhoun ck@capitalpacific.com
Outlet Marketplace, Cracker Barrel, Home Depot, Tractor Supply Co, Kroger and Dollar PH: 415.274.2701
General. Calhoun, the county seat of Gordon County, is conveniently located off of I-75, and is CA BRE# 01002010
one hour north of Atlanta, and forty-five minutes south of Chattanooga, Tennessee. Calhoun
has an above-average job growth projection over the next 10 years, and its population has ZEB RIPPLE
increased by 53% since the year 2000. zripple@capitalpacific.com
PH: 415.274.2702
CA BRE# 01242540
JACK NAVARRA
jnavarra@capitalpacific.com
PH: 415.274.2705
CA BRE# 01909630
IN CONJUNCTION WITH
GA LICENSED BROKER:
Steve Miller
Miller Realty Services
770.409.0266
This information has been secured from sources we believe
to be reliable but we make no representations or warranties,
THERE ARE 2,000 APPLEBEE’S LOCATIONS IN
expressed or implied, as to the accuracy of the information.
Buyer must verify the information and bears all risk for any
inaccuracies.
ALL 50 STATES, AND 14 COUNTRIES 4
Aerial 41 CALHOUN
ELEMENTARY
68,790 75
VPD
H&R BLOCK
ATLANTA
Y 53 66 MILES
H WA
HIG
HI
GH
WA
Y5
3
®
16,450
VPD 41 34,970
HI
VPD
GH
WA
Y5
3
BELLWOOD
ELEMENTARY
TOM B.
DAVID
AIRPORT-CZL
75
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer
must verify the information and bears all risk for any inaccuracies.
5
Submarket Overview
RETAILERS IN CLOSE PROXIMITY INCLUDE:
The Home Depot Sketchers Polo Ralph Lauren
Dollar General Lane Bryant Cracker Barrel
Aldi Carter’s Wendy’s
LongHorn Steakhouse Maurices Sunglass Hut
Fairfield Inn & Suites Nike Factory Store Bath & Body Works
Northside Bank LOFT Panda Express
Dressbarn Gap KFC
Ann Taylor Coach Ruby Tuesday
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
BUSINESS SUMMARY
TOTAL 1-MILE 3-MILES 5-MILES
Businesses 228 832 1,447
Employees 2,827 10,665 18,411
Residential
1,502 13,812 33,340
Population
KEY
1-MILE
3-MILES
5-MILES 6
Subject Property
7
Surrounding Retail
8
Income & Expense
PRICE $2,973,590
Price Per Square Foot: $581.46
Capitalization Rate: 6.15%
Total Rentable Area (SF): 5,114
Lot Size (AC): 1.51
STABILIZED INCOME PER SQUARE FOOT
Scheduled Rent $35.76 $182,876
Effective Gross Income $35.76 $182,876
LESS PER SQUARE FOOT
Taxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING INCOME $182,876
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed
or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
9
Rent Roll
TENANT INFO LEASE TERMS RENT SUMMARY
CURRENT MONTHLY YEARLY MONTHLY YEAR
TENANT NAME SQ. FT.
RENT RENT RENT RENT/FT RENT/FT
Applebee’s 5,114 3/1/2018 2/28/2019 $182,876 $15,240 $182,876 $2.98 $35.76
3/1/2019 2/28/2020 $15,392 $184,705 $3.01 $36.12
3/1/2020 2/28/2021 $15,546 $186,552 $3.04 $36.48
3/1/2021 2/28/2022 $15,701 $188,417 $3.07 $36.84
3/1/2022 2/28/2023 $15,858 $190,301 $3.10 $37.21
3/1/2023 2/28/2024 $16,017 $192,204 $3.13 $37.58
3/1/2024 2/28/2025 $16,177 $194,126 $3.16 $37.96
3/1/2025 2/28/2026 $16,339 $196,068 $3.19 $38.34
3/1/2026 2/28/2027 $16,502 $198,028 $3.23 $38.72
3/1/2027 2/28/2028 $16,667 $200,009 $3.26 $39.11
3/1/2028 2/28/2029 $16,834 $202,009 $3.29 $39.50
3/1/2029 2/28/2030 $17,002 $204,029 $3.32 $39.90
3/1/2030 2/28/2031 $17,172 $206,069 $3.36 $40.30
3/1/2031 2/28/2032 $17,344 $208,130 $3.39 $40.70
3/1/2032 2/28/2033 $17,518 $210,211 $3.43 $41.11
Option 1* 3/1/2033 2/28/2038 $17,693 $212,313 $3.46 $41.52
Option 2* 3/1/2038 2/28/2043 $18,595 $223,143 $3.64 $43.63
Option 3* 3/1/2043 2/28/2048 $19,544 $234,526 $3.82 $45.86
Option 4* 3/1/2048 2/28/2053 $20,541 $246,489 $4.02 $48.20
Option 5* 3/1/2053 2/28/2058 $21,589 $259,062 $4.22 $50.66
Option 6* 3/1/2058 2/28/2063 $22,690 $272,277 $4.44 $53.24
TOTALS: 5,114 $182,876 $15,240 $182,876 $2.98 $35.76
*There is a 1% rental increase during each year of the Option Periods
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or
implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
10Lease Abstract
EXPENSES TENANT’S INSURANCE
Tenant shall maintain the following policies: (1)
Special Form coverage that insures the Premises
for full replacement value; (2) Commercial General
PREMISES Liability Insurance naming Landlord as additional
& TERM insured, with limits no less than $1 million per
occurrence, $2 million in aggregate, and $10
million per occurrence under a “following form”
TENANT Applebee’s
umbrella policy; and (3) Business Interruption
BUILDING SF 5,114 SF
Insurance.
LEASE TYPE NNN
GUARANTOR Neighborhood Restaurant Partners, LLC TENANT’S OBLIGATIONS
TERM 20 Years Tenant is responsible for the maintenance and
EXPIRATION 02/28/2033 repair to the entirety of the Premises, including all
OPTIONS Six 5-year options interior and exterior, structural and nonstructural
repairs and replacement.
LANDLORD’S OBLIGATIONS
RENT Zero expense obligations.
TAXES
BASE RENT Tenant shall pay, directly to the taxing authority,
DATE RANGE MONTHLY RENT ANNUAL RENT all taxes levied against the Premises.
3/1/2018 - 2/28/2019 $15,240 $182,876 UTILITIES
Tenant is responsible for direct payment of all
There is a 1% annual rent increase throughout both the initial term utilities to the appropriate billing authority.
and option periods (Refer to Rent Roll on pages 10-11).
OPTION RENTS
DATE RANGE MONTHLY RENT ANNUAL RENT
LEASE RIGHT OF FIRST REFUSAL
#1. 3/1/2033 - 2/28/2038 $17,693 $212,313 If Landlord receives an offer to sell the Premises,
#2. 3/1/2038 - 2/282043 $18,595 $223,143 PROVISIONS or if Landlord decides to make an offer to sell
#3. 3/1/2043 - 2/28/2048 $19,544 $234,526 the Premises, then Landlord shall first notify the
#4. 3/1/2048 - 2/28/2053 $20,541 $246,489 Tenant of such offer. Tenant then has 10 business
#5. 3/1/2053 - 2/28/2058 $21,589 $259,062 days to accept such offer.
#6. 3/1/2058 - 2/28/2063 $22,690 $272,277
This information has been secured from sources we believe to be reliable but we make no representations or
warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears
11
all risk for any inaccuracies.Site Plan
5,114 1.51 82
RENTABLE SF ACRES SPACES
68,790
75
VPD
VE
OUTLET CENTER DRI
HI
GH
WA
Y
34,970
53
VPD
PYLON SIGN
75
CALHOUN
OUTLET
MARKETPLACE
HIGHWAY 53
This site plan is a rendering that has been created based on sources we believe to be reliable. We make
no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must
verify the information and bears all risk for any inaccuracies.
12Tenant Overview ABOUT APPLEBEE’S
Founded n 1980 on the principles of exceptional value and
family fun, Applebee’s Services, Inc., develops, franchises
and operates what is today one of the largest casual-dining
chain in the world. Applebee’s continues to grow and prosper,
and further differentiates itself with innovative attractions,
like the popular Carside to Go service available at many of its
restaurants, and its successful Weight Watchers agreement,
enabling it to cater to those preferring less-caloric alternatives.
Applebee’s menu features beef, chicken and pork items,
as well as burgers, pasta and seafood, with a selection of
signature menu items found only at Applebee’s.
Applebee’s Services Inc., and its affiliates, franchise and
operate restaurants under Applebee’s Neighborhood Grill &
Bar and are a DineEquity, Inc. (NYSE: DIN) brand. Currently,
there are nearly 2,000 Applebee’s restaurants operating
system-wide in all 50 states, 14 international countries and two
U.S. territories. The Applebee’s system employs approximately
28,000+ employees company-wide.
ABOUT THE FRANCHISEE
Neighborhood Restaurant Partners, LLC (NRP) is an Applebee’s
franchisee based in the southeastern United States, and
currently operates approximately 50 restaurant locations
in Georgia and Texas. NRP is an affiliate of Argonne Capital
Group, which is the 4th largest Applebee’s franchisee in the
country with approximately 122 locations.
This information has been secured from sources we believe
to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information.
Buyer must verify the information and bears all risk for any
inaccuracies. 13Demographics CHATTANOOGA
(49 MIN, 52 MILES)
POPULATION
1-MILE 3-MILES 5-MILES
2010 1,431 13,599 32,355
2017 1,502 13,812 33,420
2022 1,555 14,129 34,391
CALHOUN
2017 HH INCOME
1-MILE 3-MILES 5-MILES
Average $62,265 $55,027 $55,202
Median $45,294 #38,887 $39,568
GORDON COUNTY TOP EMPLOYERS
EMPLOYER # OF EMPLOYEES
Aladdin Manufacturing 20,431 ATLANTA
(1 HR, 66 MILES)
Dal-Tile Services, Inc. 7,524
Mohawk Industries, Inc. 3,400
Gordon City School District 770
THE AVERAGE HOUSEHOLD
Gordon Hospital 500
INCOME WITHIN A 1-MILE RADIUS
IS OVER $62K
This information has been secured from sources we believe to be reliable but we make no representations
or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information 14
and bears all risk for any inaccuracies.Location Overview
CALHOUN,
GEORGIA
DOWNTOWN ATLANTA
CALHOUN holds a strategic location along I-75 COUNTY THE ECONOMY OF GORDON COUNTY is rooted
between Atlanta and Chattanooga – a stretch known as ECONOMY in manufacturing and the flooring industry. Mohawk
the “Golden Corridor” due to its industry, transportation Industries, a leading manufacturer of flooring, is
system, distribution and shipping advantages. The city is one of the region’s top employers. In addition, Shaw
home to a thriving manufacturing sector and the Calhoun Industries, Beaulieu International Group, LG Chem, and Kobelco
Outlet Marketplace, an outdoor shopping center with Construction Machinery America - a division of Kobe Steel - have
over 50 national retailers - including the Nike Factory significant presences in Gordon, County.
Store, Polo Ralph Lauren Factory Store, American Eagle
Outfitters, and Coach. 57,089 This information has been secured from sources we believe
to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information.
The region is steeped in historical and cultural Buyer must verify the information and bears all risk for any
inaccuracies.
significance with Civil War and Cherokee Nation sites, GORDON COUNTY
as well as several lakes, and rivers surrounding the POPULATION
(ESTIMATED)
community and state parks which draw visitors. 15We’d love to hear
from you.
CHRIS PETERS CHRIS KOSTANECKI
cpeters@capitalpacific.com ck@capitalpacific.com
PH: 415.274.2703 PH: 415.274.2701
CA BRE# 01339983 CA BRE# 01002010
ZEB RIPPLE JACK NAVARRA
zripple@capitalpacific.com jnavarra@capitalpacific.com
PH: 415.274.2702 PH: 415.274.2705
CA BRE# 01242540 CA BRE# 01909630
IN CONJUNCTION WITH
GA LICENSED BROKER:
Steve Miller
Miller Realty Services
770.409.0266
CAPITAL PACIFIC COLLABORATES.
CLICK HERE TO MEET OUR
SAN FRANCISCO TEAM:
ZEB RIPPLE CHRIS KOSTANECKI CHRIS PETERS
JOHN ANDREINI JOE CACCAMO DAVE LUCAS
ZANDY SMITH RICK SANNER JACK NAVARRA
This information has been secured from sources we believe to be reliable but we make no representations or warranties,
expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any
inaccuracies.SFO. PDX. SEA. CAPITALPACIFIC.COM Copyright © 2018 Capital Pacific Partners
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