CHRISTIAN BROTHERS AUTOMOTIVE

Transcription

1 CHRISTIAN BROTHERS AUTOMOTIVE 3673 Vandora Springs Rd., Fort Mill, SC PROPERTY HIGHLIGHTS 12 Years Left On Primary Term Of NNN Corporate CBAC Lease w/ Five (5), Ten (10) Year Tenant Renewal Options 1.5% Annual Rent Escalations Starting in Year 3 Franchisebusinessreview.com - CBAC Has 100% Store Success In 21 Years Of Franchising, Never Having A Location Close Surrounding Retailers Include: T- Mobile, Radio Shack, Aldi, Walmart, Taco Bell, Subway, Gamestop, And Many More HIGH GROWTH/HIGH INCOME - The Charlotte combined statistical area has grown almost 20% since 2010, while Fort Mill, SC has grown 39% since Median household income in a 3-mile radius is $99,

2 FINANCIAL SUMMARY Asking Price $2,967,000 Cap Rate 6.0% Net Operating Income $178,000 Rent/Month $14,833 Rentable Square Feet 4,945 Land Area 1.08 acres Tenant Name Christian Brothers Automotive Guarantor Christian Brothers Automotive Corp. Web Site Ownership Type Fee Simple Lease Type Absolute NNN Landlord Responsibilities None - Absolute NNN Store Open Date 12/2014 Lease Term 12 years Rent Commencement 12/01/2014 Lease Expiration Date 11/30/2029 INVESTMENT HIGHLIGHTS 12 Years Left On Primary Term Of NNN Corporate CBAC Lease w/ Five (5), Ten (10) Year Tenant Renewal Options 1.5% Annual Rent Escalations Starting in Year 3 Franchisebusinessreview.com - CBAC Has 100% Store Success In 21 Years Of Franchising, Never Having A Location Close Surrounding Retailers Include: T-Mobile, Radio Shack, Aldi, Walmart, Taco Bell, Subway, Gamestop, And Many More HIGH GROWTH/HIGH INCOME - The Charlotte combined statistical area has grown almost 20% since 2010, while Fort Mill, SC has grown 39% since Median household income in a 3-mile radius is $99,500. Page 2

3 FINANCIAL SUMMARY RENT SCHEDULE Term Increase Annual Rent Monthly Rent PER/SF 1-2 $178,000 $14, $ % $180,670 $15, $ % $183,380 $15, $ % $186,131 $15, $ % $188,923 $15, $ % $191,757 $15, $ % $194,633 $16, $ % $197,552 $16, $ % $200,516 $16, $ % $203,523 $16, $ % $206,576 $17, $41.77 NOTES Corporate Guarantee NNN Lease w/ 12 year remaining on primary term and 1.5% annual bumps starting in Year 3. Five (5), Ten (10) Year Renewal Options. Page 3

4 PROPERTY DESCRIPTION Property/Area Description Christian Brothers Automotive Tega Cay is a single-tenant, triple-net asset. Built in 2014, the investment contains 12 years remaining on the primary term of the NNN lease providing zero landlord responsibility. The lease is guaranteed by the corporation and includes one and one-half percent escalations every year beginning in year 3, with options up to 62 years. is a national automotive service franchisor headquartered in Houston, Texas. Today, Christian Brothers Automotive has more than 164 locations across 27 states with approximately 30+ under development. They are a leading seller of full service automotive repair franchise locations dedicated to providing high quality service and professionalism, while maintaining the highest level of ethical standards. The company targets high growth, upper income markets with significant real estate appreciation potential. In addition, they choose the site for each franchise location, as well as construct the building and lease the premises to the franchisee. HIGH GROWTH/HIGH INCOME - The Charlotte combined statistical area has grown almost 20% since 2010, while Fort Mill, SC has grown 39% since Median household income in a 3-mile radius is $99,500. Located 19 miles south from Charlotte, North Carolina, Tega Cay/Fort Mill is a part of the greater Charlotte Metropolitan Area. Charlotte is the largest city in North Carolina, and 16th largest nation wide. The city is a major U.S. financial center with both Wells Fargo's East Coast operations and Bank of America headquartered there, as well as seven other Fortune 500 companies. Charlotte, North Carolina is the home to two major professional sports franchises, the Charlotte Hornets of the National Basketball Association (NBA) the Carolina Panthers of the National Football League (NFL). Page 4

5 PROPERTY PHOTOS Christian Brothers Example Store Photos Christian Brothers Automotive Is Different Clean, Comfortable Family-Friendly Lobbies Friendly & Knowledgeable Team Members Helpful Christian Brothers Team Members Page 5

6 MAPS AND AERIALS Page 6

7 MAPS AND AERIALS Page 7

8 LOCATION MAP Page 8

9 REGIONAL MAP Page 9

10 AERIAL MAP Page 10

11 Traffic Count Map 3673 Vandora Springs Rd, Fort Mill, South Carolina, Vandora Springs Rd, Fort Mill, South Carolina, Rings: 1, 3, 5 mile radii Prepared by Esri Latitude: Longitude: Source: 2017 Kalibrate Technologies January 25, Esri Page 1 of 1

12 DEMOGRAPHICS Population Characteristic 1 Mile 3 Mile 5 Mile Ages 0-4 N/A 2,036 5,870 Ages 5-9 N/A 2,715 7,622 Ages N/A 2,732 7,369 Ages N/A 2,748 7,171 Ages N/A 2,431 6,375 Ages N/A 1,996 5,465 Ages N/A 1,644 5,088 Ages N/A 1,610 5,235 Ages N/A 1,849 5,701 Ages N/A 2,141 6,082 Ages N/A 2,364 6,187 Ages N/A 2,486 6,097 Ages N/A 2,296 5,571 Ages N/A 1,886 4,613 Ages N/A 1,437 3,538 Ages N/A 961 2,506 Ages N/A 632 1,693 Race Characteristic 1 Mile 3 Mile 5 Mile Non Hispanic White N/A 29,731 73,442 Population Black N/A 2,895 12,771 Population Am In/AK Nat N/A Household Income 1 Mile 3 Mile 5 Mile Median Household Income N/A $99,485 $69,731 < $10000 N/A 260 1,371 $10000-$14999 N/A 179 1,293 $15000-$19999 N/A $20000-$24999 N/A 228 1,196 $25000-$29999 N/A 161 1,206 $30000-$34999 N/A 291 1,225 $35000-$39999 N/A 494 1,326 $40000-$44999 N/A 739 2,115 $45000-$49999 N/A 513 1,507 $50000-$60000 N/A 1,012 3,069 $60000-$74000 N/A 1,249 4,409 $75000-$99999 N/A 1,872 5,277 $ $ N/A 2,097 4,568 $ $ N/A 1,425 2,731 $ $ N/A 1,082 2,090 > $ N/A 783 1,484 Characteristic Housing 1 Mile 3 Mile Housing Units N/A 13,937 Occupied Housing Units N/A 12,831 Owner Occupied Housing Units N/A 11,156 Renter Occupied Housing Units N/A 1,675 Vacant Housing Units N/A 1,106 Page 12

13 DEMOGRAPHICS Population 1 Mile 3 Mile 5 Mile Male N/A 17,120 (49.40 %) 46,453 (49.29 %) Female N/A 17,534 (50.60 %) 47,789 (50.71 %) Total Population N/A 34,654 94,242 Age Breakdown 1 Mile 3 Mile 5 Mile Ages 0-4 N/A 2,036 (5.88 %) 5,870 (6.23 %) Ages 5-9 N/A 2,715 (7.83 %) 7,622 (8.09 %) Ages N/A 2,732 (7.88 %) 7,369 (8.09 %) Ages N/A 2,748 (7.93 %) 7,171 (7.61 %) Ages N/A 2,431 (7.02 %) 6,375 (6.76 %) Ages N/A 1,996 (5.76 %) 5,465 (5.80 %) Ages N/A 1,644 (4.74 %) 5,088 (5.40 %) Ages N/A 1,610 (4.65 %) 5,235 (5.55 %) Ages N/A 1,849 (5.34 %) 5,701 (6.05 %) Ages N/A 2,141 (6.18 %) 6,082 (6.45 %) Ages N/A 2,364 (6.82 %) 6,187 (6.57 %) Ages N/A 2,486 (7.17 %) 6,097 (6.47 %) Ages N/A 2,296 (6.63 %) 5,571 (5.91 %) Ages N/A 1,886 (5.44 %) 4,613 (4.89 %) Ages N/A 1,437 (4.15 %) 3,538 (3.75 %) Ages N/A 961 (2.77 %) 2,506 (2.66 %) Ages N/A 632 (1.82 %) 1,693 (1.80 %) Ages 85+ N/A 690 (1.99 %) 2,059 (2.18 %) Page 13

14 DEMOGRAPHICS Household Income 1 Mile 3 Mile 5 Mile Median Income N/A $99,485 $69,731 Less than $10,000 N/A 260 1,371 $10,000 -$14,999 N/A 179 1,293 $15,000 - $19,999 N/A $20,000 -$24,999 N/A 228 1,196 $25,000 - $29,999 N/A 161 1,206 $30,000 - $34,999 N/A 291 1,225 $35,000 - $39,999 N/A 494 1,326 $40,000 - $44,999 N/A 739 2,115 $45,000 - $49,999 N/A 513 1,507 $50,000 - $59,999 N/A 1,012 3,069 $60,000 - $74,999 N/A 1,249 4,409 $75,000 - $99,999 N/A 1,872 5,277 $100,000 - $124,999 N/A 2,097 4,568 $125,000 - $149,999 N/A 1,425 2,731 $150,000 - $199,999 N/A 1,082 2,090 Greater than $200,000 N/A 783 1,484 Housing 1 Mile 3 Mile 5 Mile Housing Units N/A 13,937 38,755 Occupied Units N/A 12,831 35,721 Owner Occupied Units N/A 11,156 27,824 Renter Occupied Units N/A 1,675 7,897 Vacant Units N/A 1,106 3,034 Race Demographics 1 Mile 3 Mile 5 Mile Population Non Hispanic White N/A 29,731 73,442 Population Black N/A 2,895 12,771 Population Am In/Ak Nat N/A Page 14