table of contents - loopnet · 2018-08-21 · executive summary sale of oceana quick service...

Table of Contents

Confidentiality and Disclosure.................................................. 3

Income Property ...................................................... 4

Executive Summary ................................................................ 5

Property Description .............................................................. 6

Property Description .............................................................. 7

Property Photos ...................................................................... 8

Regional Map .......................................................................... 9

Location Map ........................................................................... 10

Aerial Map ................................................................................ 11

Demographics ......................................................................... 12

Demographics ......................................................................... 13

Demographics ......................................................................... 14

Annual Property Operating Data per Sq. .............................. 16

Agency Disclosure ................................................................. 17

Working With Real Estate ............................................... 18




About Bailey Real Estate ............................................ 22

About BREA ............................................................................ 23

Professional Bio ..................................................................... 24

CONFIDENTIALITY AND DISCLOSURESale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870

Dennis Bailey, CCIMManaging Broker(704) [email protected]

INCOME PROPERTY DISCLAIMERSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


EXECUTIVE SUMMARYSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


Acquisition CostsPurchase Price, Points and Closing Costs $742,206Investment - Cash $300,954First Loan $441,252

Investment InformationPurchase Price $740,000Price per Tenant $740,000Price per Sq. Ft. $221.89

Income, Expenses & Cash FlowGross Scheduled Income $66,600Total Vacancy and Credits $0Operating Expenses $0Net Operating Income $66,600Debt Service ($30,954)Cash Flow Before Taxes $35,646

(After Tax Results)Total Interest (Debt Service) ($21,856)Depreciation and Amortization ($16,579)Taxable Income (Loss) $28,165Tax Savings (Costs) ($12,843)Cash Flow After Taxes $22,803

Financial IndicatorsCash on Cash Return Before Taxes 11.84%Optimal Internal Rate of Return (yr 10) 10.05%Debt Coverage Ratio 2.15Capitalization Rate 9.00%Gross Income / Square Feet $19.97

P r o p e r t y D e s c r i p t i o nS E C T I O N I

PROPERTY DESCRIPTIONSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


Bailey Real Estate Advisors is pleased to Present this former Hardee's, located on WV Route 10 in Oceana, WyomingCounty, West Virginia. The subject property includes a 1.768 acre tract of land improved with a 3,335 square footrestaurant. Former Hardee's Franchisee Closed in July of 2018. All Equipment remains except the branding, allowingfor an easier up-fit and restart

Wyoming County is geographically located in the southern part of the State of West Virginia and is bordered by Mingo,Logan, Boone, Raleigh, Mercer and McDowell Counties. It is in a rugged section of the state that is known for rapidelevation changes with steep timber-covered mountains and narrow valley floors. Development has primarily occurredalong the narrow valley floors, which are commonly used for access roads, rail lines and infrastructure.

Positioned on the Main Thoroughfare through Oceana, WV, the subject property is well placed to provide a QuickService Dining Experience in the Mining City. The location touts the opportunity to be extremely busy for the township'ssmall population, because of the extremely limited availability of other Quick Service restaurants or other nationallybranded quick service restaurants in the region, attracting customers from well outside the confines of the confines ofthe town limits of Oceana.

PROPERTY PHOTOSSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


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REGIONAL MAPSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


LOCATION MAPSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


AERIAL MAPSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


D emo g r a p h i c sS E C T I O N I I

DEMOGRAPHICSSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


Population Characteristic 1 Mile 3 Mile 5 MileAges 0-4 16 206 423Ages 5-9 29 270 567Ages 10-14 35 264 551Ages 15-19 35 240 520Ages 20-24 40 231 530Ages 25-29 42 238 547Ages 30-34 38 258 564Ages 35-39 34 251 543Ages 40-44 37 234 528Ages 45-49 48 226 539Ages 50-54 59 252 587Ages 55-59 62 279 631Ages 60-64 57 275 602Ages 65-69 52 252 511Ages 70-74 34 178 363Ages 75-79 22 116 241Ages 80-84 12 77 152

Household Income 1 Mile 3 Mile 5 MileMedian Household Income $41,850 $41,850 $40,642< $10000 8 74 401$10000-$14999 40 108 245$15000-$19999 21 197 383$20000-$24999 17 76 186$25000-$29999 4 64 231$30000-$34999 46 121 242$35000-$39999 10 145 233$40000-$44999 6 57 196$45000-$49999 10 85 143$50000-$60000 29 153 266$60000-$74000 65 180 321$75000-$99999 18 178 304$100000-$124999 N/A 71 169$125000-$149999 15 18 69$150000-$199999 N/A 15 15> $200000 N/A N/A 12

Race Characteristic 1 Mile 3 Mile 5 MileNon Hispanic White 651 3,913 8,532Population Black N/A N/A N/APopulation Am In/AK Nat N/A N/A N/A

Characteristic Housing 1 Mile 3 MileHousing Units 334 1,660Occupied Housing Units 312 1,523Owner Occupied Housing Units 266 1,269Renter Occupied Housing Units 46 254Vacant Housing Units 22 137



Population 1 Mile 3 Mile 5 MileMale 319 (48.26 %) 1,795 (45.76 %) 4,053 (47.45 %)Female 342 (51.74 %) 2,128 (54.24 %) 4,489 (52.55 %)Total Population 661 3,923 8,542

Age Breakdown 1 Mile 3 Mile 5 MileAges 0-4 16 (2.42 %) 206 (5.25 %) 423 (4.95 %)Ages 5-9 29 (4.39 %) 270 (6.88 %) 567 (6.64 %)Ages 10-14 35 (5.30 %) 264 (6.73 %) 551 (6.64 %)Ages 15-19 35 (5.30 %) 240 (6.12 %) 520 (6.09 %)Ages 20-24 40 (6.05 %) 231 (5.89 %) 530 (6.20 %)Ages 25-29 42 (6.35 %) 238 (6.07 %) 547 (6.40 %)Ages 30-34 38 (5.75 %) 258 (6.58 %) 564 (6.60 %)Ages 35-39 34 (5.14 %) 251 (6.40 %) 543 (6.36 %)Ages 40-44 37 (5.60 %) 234 (5.96 %) 528 (6.18 %)Ages 45-49 48 (7.26 %) 226 (5.76 %) 539 (6.31 %)Ages 50-54 59 (8.93 %) 252 (6.42 %) 587 (6.87 %)Ages 55-59 62 (9.38 %) 279 (7.11 %) 631 (7.39 %)Ages 60-64 57 (8.62 %) 275 (7.01 %) 602 (7.05 %)Ages 65-69 52 (7.87 %) 252 (6.42 %) 511 (5.98 %)Ages 70-74 34 (5.14 %) 178 (4.54 %) 363 (4.25 %)Ages 75-79 22 (3.33 %) 116 (2.96 %) 241 (2.82 %)Ages 80-84 12 (1.82 %) 77 (1.96 %) 152 (1.78 %)Ages 85+ 9 (1.36 %) 76 (1.94 %) 143 (1.67 %)



Household Income 1 Mile 3 Mile 5 MileMedian Income $41,850 $41,850 $40,642Less than $10,000 8 74 401$10,000 -$14,999 40 108 245$15,000 - $19,999 21 197 383$20,000 -$24,999 17 76 186$25,000 - $29,999 4 64 231$30,000 - $34,999 46 121 242$35,000 - $39,999 10 145 233$40,000 - $44,999 6 57 196$45,000 - $49,999 10 85 143$50,000 - $59,999 29 153 266$60,000 - $74,999 65 180 321$75,000 - $99,999 18 178 304$100,000 - $124,999 N/A 71 169$125,000 - $149,999 15 18 69$150,000 - $199,999 N/A 15 15Greater than $200,000 N/A N/A 12

Housing 1 Mile 3 Mile 5 MileHousing Units 334 1,660 3,768Occupied Units 312 1,523 3,438Owner Occupied Units 266 1,269 2,833Renter Occupied Units 46 254 605Vacant Units 22 137 330

Race Demographics 1 Mile 3 Mile 5 MilePopulation Non Hispanic White 651 3,913 8,532Population Black N/A N/A N/APopulation Am In/Ak Nat N/A N/A N/A

ANNUAL PROPERTY OPERATING DATA PER SQ.Sale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Rental Income $19.97 $20.24 $20.55 $20.86 $21.17 $21.49 $21.81 $22.14 $22.16 $22.47

Miscellaneous Income $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

GROSS SCHEDULED INCOME $19.97 $20.24 $20.55 $20.86 $21.17 $21.49 $21.81 $22.14 $22.16 $22.47

GROSS OPERATING INCOME $19.97 $20.24 $20.55 $20.86 $21.17 $21.49 $21.81 $22.14 $22.16 $22.47

Expenses

TOTAL OPERATING EXPENSES $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

NET OPERATING INCOME $19.97 $20.24 $20.55 $20.86 $21.17 $21.49 $21.81 $22.14 $22.16 $22.47

A g e n c y D i s c l o s u r eS E C T I O N I I I

WORKING WITH REAL ESTATE AGENTSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870

(704) [email protected]

RE/MAX Select, 500 W. Warren Street Shelby, NC 28150704.473.4756 704.943.0665 Dennis Bailey 1201-1203 Colonial

WORKING WITH REAL ESTATE AGENTSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


DocuSign Envelope ID: 2A0D513F-24E4-48D3-B74E-B9364E5BD992

A b o u t B a i l e y R e a lS E C T I O N I V

ABOUT BREASale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


PROFESSIONAL BIOSale of Oceana Quick Service Restaurant1552 Cook Parkway | Oceana, WV 24870


Dennis' Career in Real Estate began in 1996 in San Antonio, Texas, movingto North Carolina in 2000. Dennis Represents buyers and sellers as a RealEstate Broker and Broker/Owner of Bailey Real Estate Advisors, LLC and isresponsible for providing broad spectrum real estate brokerage services tobuyers, tenants, sellers and landlords of retail, office, industrial, and residentialinvestment properties. Dennis advises clients through all aspects of theacquisition process including market and competitive analysis, location and siteanalysis, financial analysis,and political and legal analysis, regardless ofproperty category. He guides clients through negotiations, due diligence, loanacquisition and commitment, and closing. Dennis has helped clients buy and sell real estate in North Carolina, SouthCarolina, Virginia, West Virginia, Tennessee, Mississippi, Alabama, Louisiana,and Georgia. Dennis formed Bailey Real Estate Advisors, LLC to concentrateon Net-Leased Properties. Dennis was 2014 inductee into the RE/MAX Hall of fame, and was 2nd

highest producing RE/MAX Commercial Agent in the Carolinas in 2011 and 3rd highest in 2009. Dennis is a CertifiedCommercial Investment Member (CCIM), Graduate of the Charlotte Region Commercial Board of REALTORsCommercial Certificate Program (2002), Graduate of the Realtor Institute (GRI) and also holds the professionaldesignations ABR, SRES, SFR, and CRS. Dennis has served in many leadership roles in the REALTOR community including as a Director, Chairman ofProfessional Standards Committees, Chairman of Grievance Committees, and as Chairman of Legislative ActionsCommittees. Dennis is the Immediate Past President of Cleveland County Association of REALTORS for 2017. Dennis has been involved in politics as an activist since the mid-2000's, and held office as a City Councilman forWard 4, and Mayor Pro Tempore' from 2010-2017. Dennis also served as Vice-Chairman of the Gaston-Cleveland-Lincoln Metropolitan Planning Organization (MPO)responsible for prioritizing transportation projects. from 2014-2017 Dennis was twice elected to serve as Director (Division 12) on the North Carolina League of Municipalities (NCLM)and previously on the General Govt. Legislative Action Committee. Born in Shelby, NC, Dennis Joined the United States Air Force in 1980, served briefly as a Airframe RepairSpecialist, then as an National Security Agency (NSA) Signals Intelligence Analyst and Information Warfare Analyst andSuperintendent. Dennis Retired from the USAF and returned to his home town in Shelby NC.

table of contents - loopnet · 2018-08-21 · executive summary sale of oceana quick service...

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