established neighborhood sports bar 2275 buffalo road ......379 u.s. metropolitan areas in the 25th...
TRANSCRIPT
Phone: 212.972.7457Fax: [email protected] www.exp1031.com
Established Neighborhood Sports Bar
2275 Buffalo Road – Gates, NY 14624
▪ Long term tenancy & tenant operates another restaurant in the immediate area▪ Absolute triple net lease with 3% annual escalations and personal guarantee▪ Outparcel to Home Depot | Cinemark Multiplex IMAX and just off I-490▪ Near Topps Food Market, Big Lots, Bank of America, Citizen’s Bank, and Dollar Tree▪ 8 years of term remaining▪ Population exceeds 161,000 within a 5 mileradius▪ Rochester MSA is the second largest economy & second wealthiest region in New York State▪ Off I-490 with traffic counts above 50,000▪ Average Household Income exceeds $63,000 within a 3 mileradius
ExclusiveOffering
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Price: $1,273,080 | Rent: $98,481 | CAP: 7.72%
Rookies Neighborhood Sports BarInvestment Overview
PROPERTY OVERVIEW:EXP Realty Advisors exclusively presents for sale a 4,348 square foot freestanding restaurant with over 8 years remaining on a1.08 acre parcel of land. There are no landlord responsibilities. The rent escalates annually by 3% with the next increaseoccurring on 03/01/2018. The site is a outparcel to Home Depot and a Cinemark Multiplex IMAX. Topps Food Market, Big Lots,Bank of America, Dollar Tree, UPS, Chase Bank, Burger King, Wendy’s, M&T Bank and Sunoco are in the area. The Property islocated at 2275 Buffalo Road, just off the intersection of Route 490. The site is approximately 70 miles from Buffalo andapproximately 90 miles from Syracuse, and 5.7 miles from downtown Rochester.
LOCATION OVERVIEW:The Property is supported by strong demographics, with over 49,500 people located within a 3-mile radius and an averagehousehold income that exceeds $72,000. Within 5-miles there is a population of 162,695. Rochester is the third most populouscity and the second largest regional economy in New York State. Rochester was ranked as the sixth 'most livable city' among379 U.S. metropolitan areas in the 25th edition of the Places Rated Almanac. Rochester also received the top ranking for overallquality of life among U.S. metros with populations of more than 1 million and has been rated by Forbes as the 3rd best place toraise a family.
LEASE SUMMARY:Lease Expiration Date: February 28, 2025NNN Rent: $95,481Increases: 3% Annual Escalations Options: No Renewal Options Lease Type: NNN
TENANT OVERVIEW: Rookies Neighborhood Sports Bar, Inc. (with personal guaranty)The subject property is 100% leased to Rookies Neighborhood Sports Bar, Inc. with a personal guaranty from the owner of thecompany. Rookies Neighborhood Sports Bar has been serving the Greater Rochester Area since its inception in the fall of 2006.It has consistently provided both the best service and entertainment for its loyal patrons with quality products and attitude. Itsmultitude of televisions has also been a major reason why Rookies Neighborhood Sports Bar is a preferred destination to catcha game from the NFL, NBA, MLB, NHL, World Soccer, UFC and other major sporting events. The menu offers some award-winning wings. Owner also operates Pixley’s Restaurant, which is situated between Topps Food Market and Quaker Steak andLube.
INVESTMENTSUMMARY
Price: $1,273,080
CAPRate: 7.72%
Escalations: 3%annually
NNN Rent: $95,481
Bld. Sq Ft: 4,348sf
Land Size: 1.08acres
Lease Type: NNN
Options: None
Debt: Property is being sold
free and clear of debt
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. INVESTMENTOVERVIEW
Rookies Neighborhood Sports Bar Aerial
50,609 VPD
14,948 VPD
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. AERIAL
Same Operator asRookie’s
Rookies Neighborhood Sports Bar Rent Roll
Note that the seller will credit the buyer the difference between the current and escalated rent as of closing.
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. RENT ROLL
Rent Period Annual NNN Rent Annual NNN
Rent PSF
Increase Cap Rate
03/01/2015 - 02/29/2016 $90,000 $20.70 N/A N/A
03/01/2016 - 02/28/2017 $92,700 $21.32 3.00% 7.28%
03/01/2017 - 02/28/2018 $95,481 $21.96 3.00% 7.50%
03/01/2018 - 02/28/2019 $98,345 $22.62 3.00% 7.72%
03/01/2019 - 02/29/2020 $101,296 $23.30 3.00% 7.96%
03/01/2020 - 02/28/2021 $104,335 $24.00 3.00% 8.20%
03/01/2021 - 02/28/2022 $107,465 $24.72 3.00% 8.44%
03/01/2022 - 02/28/2023 $110,689 $25.46 3.00% 8.69%
03/01/2023 - 02/29/2024 $114,009 $26.22 3.00% 8.96%
03/01/2024 - 02/28/2025 $117,430 $27.01 3.00% 9.22%
Rookies Neighborhood Sports Bar Site Plan
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. SITEPLAN
Rookies Neighborhood Sports Bar Bird’s EyeView
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. BIRD’S EYE VIEW
SAME OPERATOR
Rookies Neighborhood Sports Bar LocationMap
SITE
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. LOCATIONMAP
Rookies Neighborhood Sports BarLocationMap
SITE
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. LOCATIONMAP
Rookies Neighborhood Sports BarDemographicData
Radius 1 Mile 3 Mile 5 Mile
Population:2021 Projection 4,009 48,762 162,6952016 Estimate 3,970 48,390 161,9932010 Census 3,850 47,466 161,469Growth 2016-2021 0.98% 0.77% 0.43%Growth 2010-2016 3.12% 1.95% 0.32%2016 Population Hispanic Origin 194 2,665 14,934
2016 Population by Race:White 3,329 38,207 97,476Black 438 7,463 52,140Am. Indian & Alaskan 11 177 798Asian 115 1,468 6,410Hawaiian & Pacific Island 2 26 133Other 75 1,049 5,037
U.S. Armed Forces: 3 15 47Households:
2021 Projection 1,686 20,053 63,1642016 Estimate 1,669 19,899 62,8732010 Census 1,619 19,530 62,621Growth 2016 - 2021 1.02% 0.77% 0.46%Growth 2010 - 2016 3.09% 1.89% 0.40%Owner Occupied 1,348 15,044 36,694Renter Occupied 321 4,855 26,178
2016 Avg Household Income $62,975 $63,945 $53,8552016 Med Household Income $54,300 $51,770 $41,2182016 Households by Household Inc:
<$25,000 227 3,869 18,752$25,000 - $50,000 506 5,750 18,472$50,000 - $75,000 436 4,125 10,870$75,000 - $100,000 212 2,609 6,638$100,000 - $125,000 195 1,788 4,023$125,000 - $150,000 37 761 1,910$150,000 - $200,000 48 744 1,541$200,000+ 8 252 667
Contact Us
EXP Realty Advisors 52 Vanderbilt Ave
Suite 2014New York, NY 10017
Phone: (212) 972-3947Fax: (212) 686-0078
Our Team
Robert JamesPresident
Phone: (212) 686-0072E-mail: [email protected]
Dan De Sa’Director of Sales
Phone: (212) 972-3947E-mail: [email protected]
This information has been obtained from sources deemed reliable, however EXP Realty Advisors does not guarantee, warranty or represent its accuracy.It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein. DEMOGRAPHICDATA