1292 Bellefontaine St| Wapakoneta, OH - Matthews Real ...
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™ Representative Photo OFFERING MEMORANDUM 1 2 9 2 B e l l e f o n ta i n e S t | Wa pa k o n e ta , O H
AV E RY BA R RY W ESLEY CON N OLLY, M BA
Associate Senior Associate
™ a v e r y. ba r r y @ ma tthe ws.com wes ley.c o nno lly@matthews .c o m
DIR 949. 8 73.0295 DIR 949.432.4512
MOB 949.769.1 8 21 MO B 70 7.477.7185
LIC # 02036379 ( CA ) L IC # 0 1962332 (CA)
Kyl e Matthews
BROKER OF RECORD
LIC # RC51700140
I n ve s t m e n t H i g h l ights
PROPERTY DETAILS
c on t en t s • Tenant recently just personally invested approximately $400,000 in renovations to
the site showing strong commitment to the location
• Low Rent Per SF and a very healthy 6.80% rent to sales ratio
• Absolute NNN Lease – Tenant takes care of all responsibilities including property tax,
03 F i n a n ci a l OVE RVIE W
insurance, and property and building maintenance
LOCATION
• Strategically located along main retail corridor with national QSR chains
05 Te n a n t OV E RVIE W
• Located directly in between a Lowe's and Walmart in the center of the town's activity
• Wapakoneta was the birthplace of Neil Armstrong and the subject property is just
down the street from the Armstrong Air & Space Museum
06 a r e a OV E RV I EW
TENANT
• American Dairy Queen Corporation is a subsidiary of Berkshire Hathaway inc
• Dairy Queen has been providing customers with satisfying treats and food since 1940
• Dairy Queen has over 6,400 stores in more than 27 countries
™
Financial overview
Annualized Operating Data
Monthly Rent Annual Rent Rent/SF Cap Rate
Current- 4/22/2022 $4,000 $48,000 $21.39 5.85%
Property Name Address 4/23/2022-4/22/2027 $4,200 $50,400 $22.45 6.14%
Dairy Queen 1292 Bellefontaine St, 4/23/2027-4/22/2032 $4,400 $52,800 $23.52 6.43%
Wapakoneta, OH 45895
Tenant Summary
List Price Cap Rate
Tenant Trade Name Dairy Queen
$820,512 5.85% Type of Ownership Fee Simple
Lease Type NNN
Original Lease Term 20 Years
Year Built Square Footage Rent Commencement Date 2/2/2012
Rent Expiration Date 2/2/2032
1994 ± 2,244 Term Remaining on Lease ± 14 Years
Increases 10% Every 5 Years
Options Four, 5-Year Options
Dairy Queen-Wapakoneta, OH | 3
±38,000 ADT
Fenix
Aip
Logistics
Midwest
Elastomers
AMETEK
Every Day Koneta Plastics
Technologies
±15,000 ADT
Tenant overview
Dai ry Q ueen
Company Name American Dairy Queen Corporation
A subsidiary of Berkshire Hathaway, Inc., American Dairy Queen Corporation
Parent Company Trade Name Berkshire Hathaway (NYSE: BRK/B)
is a leading franchisor of quick-service restaurants specializing in frozen
treats, with more than 6,000 Dairy Queen outlets located throughout the No. of Locations ± 6,000
US. Along with ice cream, its menu also includes burgers, hot dogs, chicken, Headquartered Minneapolis, Minnesota
salads, and sweet eats, including DQ cakes, pies, sundaes, cones, and
Website www.dairyqueen.com
Blizzard treats.
Year Founded 1938
S T R AT EGY
With a focus on efforts to update its menu, including the introduction of a
value menu called Sweet Deals and the launch of such new products as the
mini Blizzard, Dairy Queen works to maintain its iconic status among quick-
service snack brands. American Dairy Queen Corporation has also begun
investing in national advertising campaigns to promote the brand.
Op er at io ns
American Dairy Queen Corporation is the franchising domestic arm of
International Dairy Queen, which also franchises DQ Orange Julius outlets
and Karmelkorn popcorn stands. International Dairy Queen has been able
to expand and manage an extensive network of ice cream stores through
franchising: Few Dairy Queen stores are company owned.
Dairy Queen-Wapakoneta, OH | 5
Area overview
Wapa ko n eta , O H
Wapakoneta is a welcoming town an hour outside of Dayton, OH. Located in Auglaize County, Wapakoneta is located along the banks of the Auglaize
River in West-Central Ohio. The city mainly operates as an industrial and commerce hub. The city became the center for shipping grain throughout the
country and has been highly aggressive in drawing commerce to the area. There are nine industrial/commercial park sites within the area. With that,
industrial tool and machine shops have also grown drastically within the town’s economy.
The downtown area is comprised of many specialty shops, both small and corporate. The area is currently under construction to develop new business
offices and apartments. The residents are looking forward to developing their town into a great place to work and play.
dem o g r a ph i c s
POPULATION 1 Mile 3 Mile 5 Mile HOUSEHOLDS 1 Mile 3 Mile 5 Mile
2023 Projection 3,265 11,858 14,097 2023 Projection 1,369 4,918 5,790
2018 Estimate 3,298 11,821 14,054 2018 Estimate 1,377 4,874 5,736
INCOME 1 Mile 3 Mile 5 Mile
2018 Est. Average
$51,542 $66,774 $68,948
Household Income
6 | Matthews Real Estate Investment Services
D ay t o n , O H
Known as the “Gem City”, Dayton is located in Western Ohio, and
is the sixth largest city in Ohio. The Dayton metropolitan area has
approximately 841,000 residents. Dayton is the hometown of the
Wright brothers, aviation pioneers who are credited with inventing and
building the world’s first successful airplane. Dayton also plays a role in
a nickname given to the state of Ohio – “Birthplace of Aviation”.
D o w n t o w n D ay t o n
Downtown Dayton is a large area that encompasses several
neighborhoods itself, and has seen a recent uplift and revival. There are
many advantages of doing business in downtown. With more than 800
employers of varying sizes around the center city home. The companies
in downtown Dayton don’t just do business they do business together.
The downtown area of Dayton is for those who want to be connected
to their customers, fellow collaborators, neighbors, entertainment and
the community.
The city of Dayton has recently started the Downtown Dayton
Partnership and it provides an extensive support network to help build
establish and maintain business. Through the Site-seeker program, the
DDP’s business development team offers assistance finding available
office or retail space, at no cost. The city of Dayton offers incentives for
businesses big and small that locate downtown.
Dairy Queen-Wapakoneta, OH | 7
Economy Dayton’s economy is relatively diversified and vital to the overall economy of the state of Ohio. Dayton was ranked by Site Selection magazine as the No. 1 medium-sized metropolitan area in the U.S. for economic development. Dayton is also among the top 100 metropolitan areas in both exports and export-related jobs, ranked 16 and 14 respectively by the Brookings Institution. The Dayton area is a logistical centroid for manufacturers, suppliers, and shippers. Dayton also plays host to significant research and development in fields like industrial, aeronautical, and astronautical engineering that have led to many technological innovations. Much of this innovation is due in part to Wright-Patterson Air Force Base and its place within the community. Wright-Patterson Air Force Base is one of the largest air base wings in the Air Force. The installation generated a Total Economic Impact in the Dayton area of $4.67 billion in fiscal year 2011. Higher Education The Dayton area was ranked tenth for higher education among metropolitan areas in the United States by Forbes. The city is home to two major universities. The University of Dayton is a private, Catholic institution which is the only ABA approved law school in the Dayton area. It is Ohio’s largest private university and is home to the University of Dayton Research Institute, which ranks third in the nation for sponsored materials research. Dayton is also home to Sinclair Community College, the largest community college at a single location in Ohio and one of the nation’s largest community colleges. Sinclair is acclaimed as one of the country’s best community colleges. Dayton’s overall student population is about 50,000. This adds to the overall buying power of Dayton and the intelligent skilled workforce. 8 | Matthews Real Estate Investment Services
Top County Employers
Employer # of Employees
Premier Health Partners 14,135
Montgomery County 4,559
Sinclair Community College 2,726
Dayton Public Schools 1,519
Venice Regional Medical Center 871
PGT Industries 724
FCCI Insurance Group 680
City of Sarasota 619
Sun Hydraulics Corporation 590
City of North Port 530
Comcast Cablevision 529
Sunset Automotive Group 525
T o u r i s m a n d C u lt u r a l A m e n i t i e s
Dayton is a fun weekend destination, featuring a diverse choice of museums,
attractions, beautiful parks and a vibrant performing arts scene. Dayton offers
a wealth of activities and aviation attractions. From an 800 year-old Native
American village to the Boonshoft Museum of discovery. The Dayton Art Institute
has a collection of historic aircraft at the National Museum of the US Air Force.
Best things to do in Dayton, Ohio for families include the Boonshoft Museum
of Discovery, the National Aviation Hall of Fame, SunWatch Indian Village and
Aullwood Audubon Center.
Dairy Queen-Wapakoneta, OH | 9
C O N F I D E N T I A L I T Y & D I S C L A I M E R S TAT E M E N T
This Of f er ing Me m o r a n du m co n t a i n s s e l e ct i nform ati on pertai ni ng to the busi ness and affai rs of Dairy Queen located at 1292 Bellefontaine St, Wapakoneta,
OH 12550 (“ P r o p ert y ” ) . It h a s be e n p r e p a r e d by Matthews Retai l Advi sors. Thi s O fferi ng Mem orandu m may n ot b e all-in clu s ive or con t ain all of t h e
inf orma t io n a p r o s p e ct i v e p u r ch a s e r m a y de si re. The i nform ati on c ontai ned i n thi s O fferi ng Mem oran d u m is con fid en t ial an d fu rn is h ed s olely for t h e
p urp o se o f a r ev ie w by a p r o s p e ct i v e p u r ch aser of the Property. It i s not to be used for any othe r pu rpos e or mad e availab le t o an y ot h er pers on
with o ut t he w r it t e n co n s e n t o f S e l l e r o r M a t t hews Retai l Advi sors. The m ateri al i s based i n part upon in format ion s u pplied b y t h e Seller an d in part
upon f ina nc ia l info r m a t i o n o bt a i n e d f r o m s ourc es i t deem s rel i abl e. O wner, nor thei r offi c ers, employees , or agen t s makes an y repres en t at ion or
warra nt y, ex p r e s s o r i m p l i e d, a s t o t h e a ccu r ac y or c om pl eteness of thi s O fferi ng Mem orandum or a n y of it s con t en t s an d n o legal liab ilit y is as s u med
o r sh a ll b e imp lied w i t h r e s p e ct t h e r e t o. P r o s pec ti ve purc hasers shoul d m ake thei r own proj ec ti ons an d form t h eir own con clu s ion s wit h ou t relian ce
upon t he ma t er ia l co n t a i n e d h e r e i n a n d co n d uc t thei r own due di l i genc e.
By a c kno w le d g ing y o u r r e ce i p t o f t h i s O f f e r ing Mem orandum for the Property, you agree:
1. T he Of f er in g M e m o r a n du m a n d i t s co ntents are c onfi denti al ;
2. Yo u w ill hol d i t a n d t r e a t i t i n t h e s t r i c test of c onfi denc e; and
3. Yo u w ill no t , di r e ct l y o r i n di r e ct l y, di sc l ose or perm i t anyone el se to di sc l ose thi s O fferi n g M emoran d u m or it s con t en t s in an y fas h ion or
ma nner d e t r i m e n t a l t o t h e i n t e r e s t o f the Sel l er.
Owne r a nd Ma t t he w s Re t a i l A dv i s o r s e x p r e s sl y reserve the ri ght, at thei r sol e di sc reti on, to rej ect an y an d all expres s ion s of in t eres t or offers t o
p urc ha s e t he P r o p e r t y a n d t o t e r m i n a t e di s c ussi ons wi th any person or enti ty revi ewi ng thi s O fferin g M emoran d u m or makin g an offer t o pu rch as e
th e P r o p er t y unle s s a n d u n t i l a w r i t t e n a g r e e m ent for the purc hase and sal e of the Property has been fu lly execu t ed an d d elivered .
If y ou w ish no t t o p u r s u e n e g o t i a t i o n s l e a di n g to the ac qui si ti on of the Property or i n the future you d is con t in u e s u ch n egot iat ion s , t h en you agree
to p ur g e a ll ma t e r i a l s r e l a t i n g t o t h i s P r o p e rty i nc l udi ng thi s O fferi ng Mem orandum .
A p r o s p ec t iv e p ur ch a s e r ’s s o l e a n d e xcl u s i v e ri ghts wi th respec t to thi s prospec ti ve transac ti on, th e Propert y, or in format ion provid ed h erein or in
con ne c t io n w it h t h e s a l e o f t h e P r o p e r t y s h a ll be l i m i ted to those expressl y provi ded i n an exec uted Pu rch as e Agreemen t an d s h all b e s u b ject t o t h e
terms t he r eo f. I n n o e v e n t s h a l l a p r o s p e ct i ve purc haser have any other c l ai m s agai nst Sel l er or M at t h ews Ret ail Ad vis ors or an y of t h eir affiliat es
o r any o f t heir r es p e ct i v e o f f i ce r s , Di r e ct o r s , sharehol ders, owners, em pl oyees, or agents for any d amages , liab ilit y, or cau s es of act ion relat in g t o
th is so lic it a t io n p ro ce s s o r t h e m a r ke t i n g o r sal e of the Property.
This Of f e r ing Me m o r a n du m s h a l l n o t be de e m ed to represent the state of affai rs of the Property or con s t it u t e an in d icat ion t h at t h ere h as b een n o
ch ang e in t he s t a t e o f a f f a i r s o f t h e P r o p e r t y si nc e the date thi s O fferi ng Mem orandum .Dairy Queen
e xc l u s i v e ly l i s t e d by
AVERY BARRY
1 2 9 2 B e l l e f o n ta i n e S t | Wa pa k o n e ta , O H Associate
avery.b arry@matthews .c o m
DIR 949.873.0 295
MO B 949.769.1821
L IC # 0 20 36379 (CA)
W ESLEY CON N OLLY, M BA
Senior Associate
wes ley.c o nno lly@matthews .c o m
DIR 949.432.4512
MO B 70 7.477.7185
L IC # 0 1962332 (CA)
K y l e M atthew s
BROKER OF RECORD
L IC # RC51 70 0 1 4 0
™
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