HOOTER'S
OFFERIN
G MEM
ORAN
DUM
ABSOLUTE NNN $3,281,250135 STADIUM DRIVE , KODAK, TENNESSEE
Exclusively Marketed by:
Steven DavisManaging Member480-429-4580Lic: [email protected]
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent thecurrent or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
8255 East Raintree Drive Suite 100 Scottsdale, AZ 85260
Hooter's CONTENTSExecutive Summary
Executive Summary 5 Location Summary 6
Property Description78-91011
Aerial Map Parcel Map Property Images Tenant Profile
13
13
Demographics
Demographics Demographic Charts
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to bereviewed only by the party receiving it from Retail Investment Group and it should not be made available to any other person orentity without the written consent of Retail Investment Group.
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such informationin the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offeringmemorandum. If you have no interest in the subject property, please promptly return this offering memorandum to RetailInvestment Group. This offering memorandum has been prepared to provide summary, unverified financial and physicalinformation to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The informationcontained herein is not a substitute for a thorough due diligence investigation. Retail Investment Group has not made anyinvestigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the property and improvements, the presence ofabsence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physicalcondition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans orintentions to continue its occupancy of the subject property. The information contained in this offering memorandum has beenobtained from sources we believe reliable; however, Retail Investment Group has not verified, and will not verify, any of theinformation contained herein, nor has Retail Investment Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyersmust take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for theircosts and expenses of investigating the subject property.
Hooter's Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER:
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT RETAIL INVESTMENT GROUP FOR MORE DETAILS.Copyright © 2018 CREOP, LLC. All Rights Reserved.
Hooter's | Executive Summ
ary
Executive Summary HOO
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Offering Summary
Location Summary
Hooter's Executive Summary | 05
OFFERING SUMMARYADDRESS 135 Stadium Drive Kodak TN 37764
COUNTY Sevier
LEASE TYPE Absolute NNN
CAP RATE 6.40%
BUILDING SQUARE FEET ±6,500 + Patio
LAND SQUARE FEET ±71,874
LAND ACRES ±1.65
SEATS 260
TENANT Hooter's
OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARYOFFERING PRICE $3,281,250
PRICE PSF $45.65
OCCUPANCY 100 %
NOI (CURRENT) $210,000
CAP RATE (CURRENT) 6.40 %
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2017 Population 613 8,117 20,040
2017 Median HH Income $52,840 $48,191 $46,816
2017 Average HH Income $62,772 $60,738 $59,048
New 20 Year Lease Begins at COE
Corporate Guarantee Sale Leaseback
Brand New Ground Up Construction
4 x 5 Year Options
New Phase One Available
New Alta Survey Available
Direct Visibility from Interstate 40 which has 68,100+ Vehicles Per day
± 15 Miles to Pigeon Forge, Dollywood, which sees 2.5 Million visitor annually, and the Titanic Museum.
Retail Investment Group is pleased to offer a Hooter's in Kodak,TN. This property is ±6,500 square feet with a patio and is on ±1.65acres of land.
The property is adjacent to Bass Pro Shops, a 132,000+ square feetstore that opened in 2005 and retailers including McDonald's,Taco Bell, Cracker Barrel, Hampton Inn and Suites, with 87 Keys,American Best Value Inn and Suites, with 51 Keys, Fairfield Inn andSuites, with 91 Keys, and Holiday Inn Express and Suites, with 91Keys.
Only ±1 Mile from the Great Smokies Flea Market which has1,000+ venders and sees over 1,000,000 visitors per year.
The property is located in the same plaza as the Smokies Stadium.A ±6,000 seat, Chicago Cub Double-A affiliate sports stadium thathosts 70+ home games per year. The stadium also hosts collegebaseball tournaments, the Great Smokey Mountain Auto Show,along with many other events year-round.
YEAR BUILT Q4 2018
LEASE EXPIRATION December 31,2038
INCREASES 8.5% Every 5 Years
GUARANTEE Corporate Lease
Hooter's Location Summary | 06
Kodak is a community in Sevier County, Tennessee. It is located along State Highway 139 and State Highway 66, and just South of Interstate Highway 40. Bother Interstate 40 and State Highway 66 are main routes to both Knoxville and Pigeon Forge. The elevation of Kodak is about 896 Feet above sea level.
Kodak, home of the Smokey Mountain Visitor's Center is one of Tennessee's main gateways to the Great Smokey Mountain's National Park, which saw 11,388,000+ visitors in 2017. The town is a stop on Tennessee's Great Valley Wine Trail for its winery, Eagle Springs Winery. The Great Valley Wine Trail consists of Five wineries in the Great Smokey Mountains. Sevier County continues to raise tourism numbers each year and currently sits as the third largest tourism county in Tennessee.
Also located in Sevier county are Pigeon Forge, home of Dollywood, which sees 2.5 million visitors annually, and the Titanic Museum which sees 625,000+ visitors per year. Gatlinburg, TN which also sees millions of visitors each year for the direct access to the Great Smokey Mountains and the Ripley's Aquarium of the Smokies which recently won an award as the best aquarium in the nation.
Hooter's Aerial Map | 07
Hooter's Parcel Map | 08
Hooter's Parcel Map | 09
Hooter's Property Images | 10
Hooter's Tenant Profile | 11
Trade Name Hooter'sHeadquartered Atlanta, GAWebsite www.hooters.com
www.chanticleerholdings.com# of Locations 430
DescriptionHooters was appropriately incorporated on April Fool’s Day, 1983, when six businessmenwith absolutely no previous restaurant experience got together and decided to open aplace they couldn’t get kicked out of. Soon after, on October 4th of that year, the doors tothe first Hooters Restaurant opened in Clearwater, Florida. The now famous “Hooters Six”were: L.D. Stewart, a painting contractor; Gil DiGiannantonio, a liquor salesman; “UncleBilly” Ranieri, a retired service station owner; Ed Droste, a real estate executive; DennisJohnson, a brick mason by trade; and Ken Wimmer, a partner in the painting business withL.D. Strange group. Out of their fertile imaginations – and more R & R than R & D – camethe concept of Hooters. The restaurant would combine their favorite manly finger foodswith the 50’s and 60’s music they felt best exemplified a happy, nostalgic time in mostAmericans’ memories. Then came the wood.Lots of wood. Walls, floors, tables, bars-Denny & L.D. put it everywhere, choosing T1-11 asthe exterior of choice because it was the cheapest. Although fun, once opened, thepressure to succeed was intense (two of the Hooters Six were Italian). So Droste, themarketing guy, donned a chicken suit and stood in traffic waving people in the door (manystill consider the costume a great improvement in his wardrobe). Shortly after the trick inthe costume (and a little event known as Super Bowl), the little joint’s fame began tospread. Now you know which came first, the chicken or the Super Bowl. They had a hunch,but little did the Hooters Six knew how much the public yearned for a fun, casualalternative to the existing fern bars and fine dining establishments. Hooters was tobecome an oasis. An oasis with great food.
Hooters is a private company that is owned by a consortium of PE companies HIG Capital,Karp Reiley, and Chanticleer Holdings that acquired the chain in 2011.
Hooter's | Demographics
Demographics HOO
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Demographic Details
Demographic Charts
Hooter's Demographics | 13
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 514 6,577 15,180
2010 Population 585 7,654 18,824
2017 Population 613 8,117 20,040
2022 Population 635 8,496 21,021
2017 African American 3 71 248
2017 American Indian 1 30 66
2017 Asian 5 51 100
2017 Hispanic 16 221 504
2017 White 587 7,747 19,104
2017 Other Race 7 89 193
2017 Multiracial 9 126 322
2017-2022: Population: Growth Rate 3.55 % 4.60 % 4.80 %
2017 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 21 367 893
$15,000-$24,999 27 419 999
$25,000-$34,999 17 287 796
$35,000-$49,999 32 516 1,317
$50,000-$74,999 82 720 1,678
$75,000-$99,999 24 371 927
$100,000-$149,999 16 292 718
$150,000-$199,999 1 31 110
$200,000 or greater 7 82 146
Median HH Income $52,840 $48,191 $46,816
Average HH Income $62,772 $60,738 $59,048
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 209 2,738 6,391
2010 Total Households 216 2,914 7,149
2017 Total Households 226 3,085 7,583
2022 Total Households 235 3,227 7,941
2017 Average Household Size 2.70 2.63 2.64
2000 Owner Occupied Housing 149 2,011 4,793
2000 Renter Occupied Housing 39 457 975
2017 Owner Occupied Housing 148 2,214 5,640
2017 Renter Occupied Housing 78 871 1,943
2017 Vacant Housing 29 467 1,279
2017 Total Housing 255 3,552 8,862
2022 Owner Occupied Housing 152 2,303 5,889
2022 Renter Occupied Housing 83 924 2,052
2022 Vacant Housing 40 600 1,582
2022 Total Housing 275 3,827 9,523
2017-2022: Households: Growth Rate 3.90 % 4.50 % 4.65 %
Source: esri
Hooter's Demographic Charts | 14
1 Mile Radius 3 Mile Radius 5 Mile Radius
2017 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2017 Population by Race
Hooter's
Exclusively Marketed by:
Steven DavisManaging Member480-429-4580Lic: [email protected]
8255 East Raintree Drive Suite 100, Scottsdale, AZ 85260