pizza hut - matthews€¦ · pizza hut is split into several different restaurant formats; the...

™

R E T A I L A D V I S O R SOffering MeMOranduM

Pizza Hut2759 W Oakland Park Blvd, Oakland Park, fl 33311

Matthews retail advisors

COnfidentialitY & diSClaiMer StateMent

this Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Pizza Hut located at 2759 W Oakland Park Blvd, Oakland Park, fl 33311 (“Property” ) . i t has been prepared by Matthews retai l advisors . this Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. the informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. i t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews retai l advisors . the mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . the Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews retai l advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

i f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

a prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase agreement and shal l be subject to the terms thereof. in no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews retai l advisors or any of their af f i l iates or any of their respect ive of f icers , directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

this Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

eXCluSivelY liSted BY:

Table of ContentsPriCing & finanCial analYSiS

investment Overview ..................................................................... 2investments Highlights.................................................................. 2executive Summary.........................................................................3Company Overview ........................................................................4

PrOPertY deSCriPtiOnPhysical description .......................................................................7Birds eye Map ................................................................................. 8regional Map ................................................................................... 9tenant Map......................................................................................10

deMOgraPHiCSCity Overview | Oakland Park, fl .............................................. 12demographics report .................................................................. 13

Justin BeckBroker of record license no. Bk3118299

Wesley Connollyassociate direCt +1.310.919.5809 MOBile +1.707.477.7185 [email protected] license no. 01962332

Matthews retail advisors

PriCing & finanCial analYSiS

™

OFFERING MEMORANDUM | Pizza HutP. 2 Matthews retail advisors

Wesley Connolly and the Matthews retail advisors are pleased to offer, for sale to qualified investors, an absolute nnn leased Pizza Hut located at 2759 W. Oakland Park Blvd, Oakland Park, fl. 33311.

this property is operated by koning restaurants international (one of the largest Pizza Hut franchisees in the country) and owns a chain of 80 plus Pizza Hut restaurants in the area. this location enjoys one of the strongest sales in the system while also serving as a training and management center for most of their locations.

inveStMent OvervieW

Investment Highlights

• absolute nnn lease

• no Management responsibilities

• rental increase of 10% every 5 years

• two (2) five year options to renew

• Over 4.5 years term remaining

• incredibly strong store sales

Matthews retail advisors P. 3Pizza Hut | OFFERING MEMORANDUM

PRICING ANALYSISeXeCutive SuMMarY

Pizza Hut2759 W Oakland Park Blvd Oakland Park, fl 33311

list Price .....................................................................................................................$989,600CaP rate - Current ........................................................................................................... 9.13%gross leasable area ............................................................................................... 2,889 Sflot Size ............................................................................................0.64 acres ( 28,007 Sf)Year Built ..................................................................................................................1985 / 1986

annualized Operating dataMonthly rent annual rent rent/Sf CaP rate

Current - 12/31/2020 $7,537.00 $90,444.00 $31.31 9.13%

Option 1 - 12/31/2025 $8,290.70 $99,488.40 $34.44 10.05%

Option 2 - 12/31/2030 $9,119.77 $109,437.24 $37.88 11.06%

tenant Summary

tenant trade name Pizza Hut

type of Ownership fee Simple

lease guarantor franchisee

lease type nnn

roof and Structure tenant responsible

Original lease term 20 Years

lease Commencement date 10/06/2000

lease expiration date 12/31/2020

term remaining on lease 4.5 years

increases 10% every 5 Years


COMPanY OvervieW

Property name Pizza Hut

Property type net leased Quick Service restaurant

Parent Company trade name Yum! Brands

Ownership Private

no. of locations ±11,139

no. of employees ±160,000

Headquartered Plano, tX

Web Site www.pizzahut.com

Year founded 1958

Pizza Hut, inc. operates a chain of pizza restaurants in the united States and internationally. it offers pizzas, pastas, wings, and drinks, as well as sides and desserts, such as stuffed pizza rollers, breadsticks, cheese sticks, baked desserts, and cinnamon sticks. the company also offers catering services. in addition, Pizza Hut franchises its restaurants. further, it provides online ordering. the company was founded in 1958 and is based in Plano, texas. Pizza Hut, inc. operates as a subsidiary of Yum! Brands, inc.

Pizza Hut is split into several different restaurant formats; the original family-style dine-in locations; store front delivery and carry-out locations; and hybrid locations that offer carry-out, delivery, and dine-in options. Many full-size Pizza Hut locations offer lunch buffet, with “all-you-can-eat” pizza, salad, bread sticks, and a special pasta. additionally, Pizza Hut also has a number of other business concepts that are different from the store type; Pizza Hut “Bistro” locations are “red roofs” which offer an expanded menu and slightly more upscale options.

™

PrOPertY deSCriPtiOn


PROPERTY DESCRIPTIONPHYSiCal deSCriPtiOn

THE OFFERING

Property name .........................................................................................Pizza Hut

Property address ...................................................2759 W Oakland Park Blvd

Oakland Park, fl 33311

assessor’s Parcel number .................................................... 49-42-20-01-0014

SITE DESCRIPTION

number of Stories .............................................................................................One

Year Built ................................................................................................ 1985 / 1986

gross leasable area (gla) ....................................................................2,889 Sf

lot Size..............................................................................0.64 acres (28,007 Sf)

type of Ownership ...............................................................................fee Simple

Parking ..................................................................................... 36 Surface Spaces

Parking ratio................................................................................ 12.46 : 1,000 Sf

landscaping ........................................................................................Professional

topography ................................................................................... generally level

COnStruCtiOn

foundation .......................................................................................Concrete Slab

framing .............................................................................................................Wood

exterior ............................................................................................ Painted Stucco

Parking Surface ............................................................................................asphalt

roof .................................................................................................................Pitched


BirdS eYe

W Oakland Park Blvd CPd: 55,000


PROPERTY DESCRIPTIONregiOnal MaP


tenant MaP

™

deMOgraPHiCS


DEMOGRAPHIC ANALYSISCitY OvervieW | Oakland Park, fl

located on the West Orange trail between Oakland and Winter garden, Oakland Park is surrounded by old florida communities and beautiful historic homes. this is florida the way it should be – a blending of water, majestic trees and a classic, small-town feel. even the Oakland Park information Center is on a particularly stunning section of the green Mountain Scenic Byway. it’s hard to image that a place so quaint is just minutes from the charm of Winter garden and the excitement of Orlando. You truly can have the best of many worlds here at Oakland Park.

Oakland Park’s layout was inspired by small towns of the early twentieth century. Houses are close to the street to foster social in-teraction, while creating picturesque streetscapes. the town has integrated the natural environment in a way that entices you to get out and enjoy life, and designed everything to connect you with the experiences and activities you desire. and help you meet friends along the way. the preservation of old-florida’s character and craftsmanship creates a stunning sanctuary you’ll want to call home.

Heritage Museum - Winter garden


DEMOGRAPHIC ANALYSISdeMOgraPHiCS rePOrt

Population 1-Mile 3-Mile 5-Mile2020 Projection 21,976 176,809 479,3992015 estimate 20,323 169,107 454,8962010 Census 18,672 162,924 433,7012000 Census 15,775 169,635 437,193growth 2000-2010 18.36% -3.96% -0.80%growth 2010-2015 8.84% 3.80% 4.89%growth 2015-2020 8.13% 4.55% 5.39%

Households2020 Projection 8,525 68,003 194,8722015 estimate 7,946 64,955 184,3972010 Census 7,412 62,526 175,3012000 Census 5,876 64,762 177,296growth 2000-2010 26.15% -3.45% -1.13%growth 2010-2015 7.21% 3.88% 5.19%growth 2015-2020 7.29% 4.69% 5.68%

income$0 - $15,000 17.87% 19.62% 15.73%$15,000 - $24,999 14.54% 14.50% 12.88%$25,000 - $34,999 11.35% 14.41% 12.51%$35,000 - $49,999 16.73% 17.14% 16.71%$50,000 - $74,999 21.05% 16.70% 17.23%$75,000 - $99,999 8.63% 8.19% 9.85%$100,000 - $124,999 4.74% 4.76% 5.90%$125,000 - $149,999 2.07% 2.06% 3.21%$150,000 - $199,999 2.00% 1.59% 3.08%$200,000 - $249,999 0.57% 0.46% 1.06%$250,000 - $499,999 0.37% 0.45% 1.33%$500,000+ 0.08% 0.12% 0.50%2015 est. average Household income $50,005 $47,579 $59,7442015 est. Median Household income $40,597 $36,282 $42,962

Matthews retail advisors | 841 apollo Street, Suite 150 | el Segundo, Ca 90245 | www.Matthews.com

PIzza HuT2759 W Oakland Park BlvdOakland Park, fl 33311Offering MeMOranduM

™

Justin BeckBroker of record license no. Bk3118299

Wesley Connollyassociate direCt +1.310.919.5809 MOBile +1.707.477.7185 [email protected] license no. 01962332

pizza hut - matthews€¦ · pizza hut is split into several different restaurant formats; the...

Documents