absolute nnn applebee’s · 2020. 6. 18. · property summary offering summary applebee’s 13765...

OFFERING MEMORANDUM

13765 US H IGHWAY 19 S | THOMASVILLE, GAABSOLUTE NNN APPLEBEE’S

AFFILIATED BUSINESS DISCLOSURE

Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 13765 US Highway 19 S (the ”Property”) by ‘Ownership’ (the “Seller”).

This Memorandum does not constitute a representation that the business or affairs of the Property or Seller since the date of preparation (6/15/2020) of this Memorandum have remained the same. Analysis and verification of the information contained in this Memorandum are solely the responsibility of the prospective purchaser.

Additional information and an opportunity to inspect the Property will be made available upon written request of interested and qualified prospective purchasers. Seller and Agent each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property, and/or terminate discussions with any party at any time with or without notice. Seller reserves the right to change the timing and procedures for the Offering process at any time in Seller’s sole discretion. Seller shall have no legal commitment or obligations to any party reviewing this Memorandum, or making an offer to purchase the Property, unless and until such offer is approved by Seller, and a written agreement for the purchase of the Property has been fully executed and delivered by Seller and the Purchaser thereunder.

This Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting this Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not forward, photocopy or duplicate it, that you will not disclose this Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Seller or Agent, and that you will not use this Memorandum or any of the contents in any fashion or manner detrimental to the interest of Seller or Agent.

TABLE OF CONTENTS

EXECUTIVESUMMARY

01PROPERTY

DESCRIPTION

02FINANCIALANALYSIS

03AREA

OVERVIEW

04

EXECUTIVE SUMMARY

01

THE OFFERING

Newmark Knight Frank (NKF) Capital Markets,

as exclusive advisor, is pleased to present the

opportunity to acquire Applebee’s at 13765 US

Highway 19 S (the Property), a 5,414-square-foot

retail project in Thomasville, Georgia.

Applebee’s consists of a single tenant on a NNN

lease. Built in 2002, the property is approximately

5,414 square feet siting on 1.78 acres, located

directly south of Lowe’s Home Improvement with

frontage on US Highway 19. Applebee’s offers an

investor the rare opportunity to acquire a well-

maintained, stable asset in the second largest city in

Southwest Georgia.

13765 US H IGHWAY 19 S | THOMASVILLE, GA 4

PROPERTY SUMMARY OFFERING SUMMARY

APPLEBEE’S13765 US Highway 19 SThomasville, GA 31792

5,414 SF Total Building Area

2002 Year Built/Remodel

1.78 ACLot Size

046HTH 128 CParcel Number

C-1Zoning

NNNLease Type

10+ YearsLease Term Remaining

1% AnnualRent Increases

OFFERING PRICE $1,936,684

CAP RATE 7.5%

NOI $147,276.30

CORPORATE GUARANTEE

Neighborhood Restaurant Partners Florida, LLC (a large franchisee with 100+ locations and a subsidiary of Argonne Capital)


NEARBY RETAILERS

SITE

®

R

U.S. HIGHWAY 19 S

U.S. HIGHWAY 19 S

SMITH AVE.

SMITH AVE.

WIL

LIAM

SBURG AVE

.

WIL

LIAM

SBURG AVE

.


PROPERTY DESCRIPTION

02

ABOUT THE FRANCHISOR

ABOUT THE FRANCHISEE

Applebee’s Neighborhood Grill & Bar began as a small Atlanta eatery 40 years ago, in 1980, and is now one of the world’s largest

full-service dining companies. Dine Brands Global, the franchisor of Applebee’s Neighborhood Grill & Bar and IHOP, operates

over 3,700 locations in approximately 20 countries. As a U.S.-based restaurant franchise, the chain is headquartered in Glendale,

California and operates within the grill and bar segment of the restaurant industry’s casual dining category. Applebee’s serves

menus that range from traditional American fare to regional specialties.

Neighborhood Restaurant Partners Florida, LLC, is a subsidiary of Argonne

Capital Group and was founded in 2003. Argonne Capital Group is a closely-

held private investment firm that seeks to make equity investments in a diverse

range of middle market enterprises. Since they began, Argonne has completed

22 acquisitions and boasts a portfolio that generates $1.6 billion in annual sales

and employs over 32,000 people. Argonne is the fourth largest Applebee’s

franchisee with approximately 120 locations and has additional holdings in some

of the nation’s strongest brands including IHOP, On The Border, Planet Fitness,

John Deere, and Sonny’s BBQ.

Franchisee Name Argonne Capital Group

GuarantorNeighborhood Restaurant Florida Partners, LLC

Annual Sales $1.8 Billion (2019)

Employees 32,000+

Applebee’s & IHOP Units 420+

INVESTMENT HIGHLIGHTS INCLUDE:

• Absolute NNN Applebee’s with over 10 years remaining on the Lease Base Term

• Frontage on US Highway 19

• In the same parking lot as Lowe’s

• Ample On-Site Parking

• Lease Guaranteed by Neighborhood Restaurant Florida Partners, LLC

*Note: This lease has a corporate guarantee by Neighborhood Restaurant Florida Partners, LLC, which has over 100 locations rolled into that entity. While

Argonne Capital is the parent company of Neighborhood Restaurant Florida Partners, LLC, that parent entity does not guarantee this lease.


SITE PLAN

CIVIL ENGINEERS - SURVEYORS - LANDSCAPE ARCHITECTS

800 E. WASHINGTON ST, STE. B GREENVILLE, SC 29601PH: (864)271-0496 FAX: (864)271-0402

www.sitedesign-inc.com

SCF REALTY CAPITAL LLC


FINANCIAL ANALYSIS

03

LEASE ABSTRACTLEASE SUMMARY

Tenant's DBA Applebee’s Grill & Bar

Company Type Private

Lease Entity: Neighborhood Restaurant Partners Florida Two, LLC

Lease Guarantor: Neighborhood Restaurant Partners Florida, LLC

Lease Type: NNN

Lease Commencement: December 1, 2010

Original Term: 17 Years

Lease Expiration: May 31, 2031

Lease Term Remaining: 10+ Years

NOI: $147,276.30

Rent Increases: 1% Annual Increases

Options To Renew: Two (2), Five (5) Year Options


AREA OVERVIEW

04

3 MILE RADIUS | AT-A-GLANCE

21,260Residents

41.0Median Age

Thomasville is the second largest city in Southwest Georgia with a

residential population of 46,145. Offering numerous cultural events

and historical attractions, Thomas draws a steady stream of regional

tourism business in addition to two major corporate headquarters.

First, FlowerFoods is a publicly traded company and the second largest

producers of packaged bakery foods in the United States with brands

including Nature’s Own, Dave’s Killer Bread and Tastykake. It operates

47 bakeries across the country and employs over 9,000 people. Second,

Senior Life Insurance is national insurance company with almost 500

employees and agents. Thomasville is also home to two higher education

institutions, Southern Regional Technical College and Thomas University.

AREA OVERVIEW: THOMASVILLE, GEORGIA

8,742Households

$54,854Average Income


APPLEBEE’S13765 US H IGHWAY 19 S | THOMASVILLE, GA


EXCLUSIVELY LISTED BY

Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 13765 US Highway 19 S (the ”Property”) by ‘Ownership’ (the “Seller”). The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

CHASE DORSETT Associate

602.952.3844 [email protected]

DREW FLEMING Senior Managing Director

Lic# SL3268867

STEVE JULIUS Senior Managing Director


JESSE GOLDSMITH Senior Managing Director


absolute nnn applebee’s · 2020. 6. 18. · property summary offering summary applebee’s 13765...

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