Carl's Jr - 20-year absolute net lease with rental increases every 5 years REPRESENTATIVE PHOTO - Capital Pacific
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Carl’s Jr
[ REPRESENTATIVE PHOTO ]
20-year absolute net lease with
rental increases every 5 years [ www.CapitalPacific.com ]
1014 W. Joe Harvey Blvd, Hobbs, NM 88240
PROperty Summary Listing Team
Contact Info
freestanding drive-thru restaurant located
across from the home depot John Andreini
jandreini@capitalpacific.com | (415) 274-2715
CA BRE# 01440360
PRICE: $2,308,333
CAP: 6.00%
Listed in Conjunction with NM Licensed Broker:
Sean McMullan, McMullan & Company Real Estate
Rentable SF. . . . . . . . . . . . . . . 2,997 SF sean@mcmullanrealestate.com | (505) 259-6223
land area . . . . . . . . . . . . . . . . 0.85 Acres
BUILT . . . . . . . . . . . . . . . . . . . . . May 1, 2016 Capital Pacific collaborates. Click here to
Lease Expiration. . . . . . . . . . April 30, 2036 meet the rest of our San Francisco team.
[ Surrounding area retail ]
carl’s jr | 2
investment highlights
core characteristics
Area retailers include Walmart, Lowe’s, The Home Depot, Buffalo Wild Wings,
Applebee’s, and many others.
Population growth in one, three, and five mile radii
Tenant Highlights
Carls Jr. 2014 sales were $1.5 billion
Over 1,300 locations
Guarantor
Franchisee since 1997
Currently owns and operates 11 nationally recognized brand restaurants: 8 IHOP’s, 2
Carl’s Jr. (including Hobbs), and Tilted Kilts in New Mexico, Texas, and Ohio
Lease Highlights
7.5% rental increases every 5 years in base term and option periods
Four 5-year options with rental increases every 5 years
Zero landlord responsibilities
the average household income within a one mile
radius is over $91,000
carl’s jr | 3
[ REPRESENTATIVE PHOTO ]
aerial
located across from the home depot
Y
jo DAIL
ive
Na 208
Dr
N 3,
36 Coronado
,
Gr
va
13
Elementary
im 5
es D
AIL
W
ALBUQUERQUE St 13
re Y 2 Highland Jr.
e t N High School
Da
8
21
lP
as
oS
tre
et
e
riv
nD
ille
M
W
Mills
Elementary
Stone
Elementary
.
TURNER PLAZA
lvd
18
yB
ve
18
ar
eH
Jo
Sanger
Elementary
18 18
®
e
riv
nD
rd
va
ille
BROADMOOR MALL
ule
N
M
Gr
Bo
W
im
es
er
nd
St
re
Be
NW et
W
Co
un
ty
Ro
ad
carl’s jr | 4
Surrounding Area Retail
area retailers include lowe’s
walmart, The home depot, and
many others
carl’s jr | 5
income & expense
PRICE $2,308,333
Price Per Square Foot: $770.21
Capitalization Rate: 6.00%
Total Rentable Area (SF): 2,997
Lot Size (AC): 0.85
STABILIZED INCOME Per Square Foot
Scheduled Rent $46.21 $138,500
Effective Gross Income $46.21 $138,500
LESS Per Square Foot
Taxes Tenant Pays Direct $0.00
Insurance Tenant Pays Direct $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING INCOME $138,500
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.
[ REPRESENTATIVE PHOTO ]
[ REPRESENTATIVE PHOTO ]
carl’s jr | 6
rent roll RENTAL
INCREASES
TENANT INFO LEASE TERMS RENT SUMMARY
Current Monthly Yearly Monthly Yearly
Tenant Name Sq. Ft. Term
Rent Rent Rent Rent/FT Rent/FT
Carl’s Jr. 2,997 1 5 $138,500 $11,541.67 $138,500 $3.85 $46.21
6 10 $12,407.29 $148,888 $4.14 $49.68
11 15 $13,337.83 $160,054 $4.45 $53.40
16 20 $14,338.33 $172,060 $4.78 $57.41
Option 1 21 25 $15,413.71 $184,965 $5.14 $61.72
Option 2 26 30 $16,569.74 $198,837 $5.53 $66.35
Option 3 31 35 $17,812.47 $213,750 $5.94 $71.32
Option 4 36 40 $19,148.40 $229,781 $6.39 $76.67
Totals: 2,997 $138,500 $11,542 $138,500 $3.85 $46.21
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.
carl’s jr | 7
[ Surrounding area retail ]
site plan
Joe Harvey Boulevard
Site Plan Key
Parcel outline:
Land Area: 0.85 acres
Building Area: 2,997 sf
Ingress/Egress:
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties,
expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.
carl’s jr | 8
tenant overview
[ REPRESENTATIVE PHOTOs ]
Carl’s jr.
Carl’s Jr. is an American fast-food restaurant chain known for quality, cleanliness, and pioneering new
concepts such as partial table service and self-serve beverage bars. It is characterized by its popular logo,
the bright yellow five-pointed Happy Star, and has a history of developing popular advertising slogans
such as “If it doesn’t get all over the place, it doesn’t belong in your face”. Signature menu items include the
100% Angus beef Six Dollar Burger™, charbroiled chicken sandwiches, entrée salads and low carbohydrate
options. When combined with its sibling restaurant chain, Hardee’s, Carl’s Jr. is the fifth largest fast food
chain in size.
www.carlsjr.com
Carl’s Jr. is currently owned and operated by CKE Restaurants, Inc., one of the world’s largest operators and
franchisors of quick service restaurants. With its headquarters in Carpinteria, California, CKE Restaurants
Inc. currently has franchised, licensed, or company operated restaurants in 42 U.S. states and 25 foreign
2014 REVENUE countries. Their brands include the Carl’s Jr, Hardee’s, Green Burrito, and Red Burrito restaurants chains.
$1.5 BILLION
NUMBER OF LOCATIONS about the guarantor
1,300+ Teo Regalado, who will be operating the store, has been a franchisee since 1997 and has owned/operated 6
IHOP restaurants in Texas and Louisiana. After selling off these stores, IHOP sent him to open more stores
in New Mexico in which he has done huge sales volumes. He currently owns and operates 11 nationally
recognized brand restaurants: 8 IHOP’s, 2 Carl’s Jr.’s (including Hobbs), and Tilted Kilts in New Mexico, Texas,
and Ohio. carl’s jr | 9
location & demographics
Population
hobbs, NM Overview 1-Mile 3-Mile 5-Mile
Hobbs is located in Lea County, New Mexico both west and north of the Texas state 2010 6,057 28,070 41,206
line and is the principal city of the Hobbs, New Mexico Micropolitan Statistical 2015 6,496 30,254 44,166
Area. The population of Hobbs was 34,122 at the 2010 Census and the population
2020 7,008 33,013 48,054
in Lea County was 64,727.
Hobbs holds the headquarters of the Soring Society of America. It is also home to 2015 Household incomes
Zia Park racetrack, which hosts thoroughbred and quarter horse racing and the
Black Gold Casino. 1-Mile 3-Mile 5-Mile
Average $91,695 $74,431 $68,214
Top Employers in lea county
Haliburton
Hobbs Municipal Schools
Lea Regional Medical Center
Patterson-UTI Drilling Co.
oklahoma City
albuquerque
3,365 DAILY
4 Hr 53 min
314 miles
dallas
hobbs
carl’s jr | 10A unique HUMAN
RESULTS-DRIVEN The capital pacific experience - our daily commitment to our clients
client experience [ www.CapitalPacific.com ]
[ REPRESENTATIVE PHOTO ]
John Andreini Rick Sanner Capital Pacific collaborates. Click here to
jandreini@capitalpacific.com | (415) 274-2715 rsanner@capitalpacific.com | (415) 274-2709 meet the rest of our San Francisco team.
CA BRE# 01440360 CA BRE# 01792433
Chris Kostanecki zeb ripple
Bob Sanner dave lucas chris peters Joe Caccamo
bsanner@capitalpacific.com | (415) 274-2717 dlucas@capitalpacific.com | (415) 274-7390
Dave Lucas Gregg Steele
CA BRE# 00869657 CA BRE# 01389761
Zandy Smith Karla Zens
Listed in Conjunction with NM Licensed Broker: Jack Navarra
Sean McMullan, McMullan & Company Real Estate | sean@mcmullanrealestate.com | (505) 259-6223
[ Copyright © 2016 Capital Pacific ]You can also read
