applebee’s · applebee’s 105 n. springboro pike, dayton, oh 45449 marcus thefeld associate...

APPLEBEE’S105 N. SPRINGBORO PIKE, DAYTON, OH 45449

Offering Memorandum

NON-ENDORSEMENT & DISCLAIMER NOTICECONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by

the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of

Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to

establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the

income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the

property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal

regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s

plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained

from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained

herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever

regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the

information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.

© 2017 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this

marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or

endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of

Marcus & Millichap, and is solely included for the purpose of providing tenant lessee

information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILL ICHAP AGENT FOR MORE DETAILS.

APPLEBEE’S1 0 5 N . S P R I N G B O R O P I K E , D A Y T O N , O H 4 5 4 4 9

MARCUS THEFELDAssociate

National Retail GroupCell 858.220.4960

Office [email protected]

License CA 01963272

JANE SMITHTitle Here

Local City OfficeCell 123.456.6789


License CA 12345678

MATT LOPICCOLOFirst Vice President InvestmentsDirector, National Retail Group

Cell 828.737.3156Office 828.373.3156

[email protected] CA 01835052

EXCLUSIVELY L ISTED BY

O F F I C E S N A T I O N W I D E A N D T H R O U G H O U T C A N A D A

WWW.MARCUSMILLICHAP.COM

105 N. SPRINGBORO PIKE, DAYTON,

OH 45449

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OFFERING HIGHLIGHTSSECTION 1 Aerial

MARKET OVERVIEWSECTION 4 Location Overview • Local Retailers

INVESTMENT OVERVIEWSECTION 2 Investment Overview • Investment Highlights• Summary of terms

LOCATION OVERVIEWSECTION 5 Dayton, Ohio • Economy • Market Aerial • Demographics Highlights

PROPERTY OVERVIEWSECTION 3 Property Details • Location Map • Investment Overview

TABLE OF CONTENTS

EXCLUSIVELY LISTED BY:

APPLEBEE’S1 0 5 N . S P R I N G B O R O P I K E , D A Y T O N , O H 4 5 4 4 9

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate

Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000

$1,728,865OFFERING PRICE

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HIGHLIGHTSAPPLEBEE’S

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OFFERING HIGHLIGHTS

105 N. Springboro Pike, Dayton, OH 45449

OFFERING PRICE

$1,728,865CAP RATE

5.5%

VITAL DATA

Annual Rent $95,110

Building Size 3,889SF

Lot Size 1.069 Acres

Price/SF $465.83 SF

Rent/SF $24.46

Year Buiilt 1989

Parking 60 Spaces

Property Type Restaurant

APPLEBEE’SR M H F R A N C H I S E H O L D I N G S , 1 7 5 + L O C A T I O N S I N 1 5 S T A T E S



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INVESTMENT OVERVIEWMarcus & Millichap has been selected to exclusively market for sale a single-tenant, freestanding Applebee’s restaurant in Dayton, Ohio. The property

is subject to a twenty-year absolute net lease (17+ years remaining). There are ten percent rent increases every five years during the primary term

and throughout each of the four, five-year renewal option periods. The lease is guaranteed by RMH Franchise Holdings, Inc., the second largest

Applebee’s franchisee in the country, which operates 175-plus locations across 15 states with over 10,000 employees. There are no landlord main-

tenance responsibilities whatsoever.

The property is situated on an outparcel to an Aldi supermarket anchored shopping center and is located

across the street from a Lowe’s Home Improvement. It has direct street frontage along Springboro Pike

Road, which has average daily traffic counts of 30,401. Located one block south is Dayton Mall, a one

million-plus square foot regional shopping destination with over 175 retailers. Dayton Mall is anchored by

Macy’s, Elder-Beerman, Sears, JCPenney, hhgregg and Dick’s Sporting Goods.

Founded nearly three decades ago on the principles of exceptional value and family fun, Applebee’s

operates what is today the largest casual-dining chain in the world. This prominent eatery draws people of

all ages and lifestyles with its fun, family-friendly atmosphere and signature bar and grill menu. Applebee’s

continues to grow and prosper, and further differentiates itself with innovative attractions, like the popular

Carside to Go service available at many of its restaurants, and its successful Weight Watchers agreement,

enabling it to cater to those preferring less-caloric alternatives. And the company continually works to add

greater value and broaden its appeal, as evidenced by the “It’s a Whole New Neighborhood” campaign,

which launched in the spring of 2008, indicative of a fresh, re-energized approach and the promise of new,

enticing menu items. Applebee’s Services Inc., and its affiliates, franchise and operate restaurants under

Applebee’s Neighborhood Grill & Bar and are a DineEquity, Inc. (NYSE: DIN) brand. Currently, there are

over 2,000 Applebee’s restaurants operating system-wide in 49 states, 15 international countries and one

U.S. territory. The Applebee’s system employs approximately 28,000 employees company-wide.

HIGH PERFORMING STORE

► Excellent Visibility: Pad to Aldi anchored shopping center and

visible to over 30,000 VPD

► 1 block away from Dayton Mall: 1 Million+ Sq. Ft. shopping

destination with over 175 stores

► Lease guaranteed by RMH Franchise Holdings, 175+ unit operator

with locations in 15 states

► 10% increase in rent in december 2018, increasing list price cap

to over 6% in one year

► Absolute NNN lease: Zero landlord responsibilities

HIGH PERFORMING EXCELLENT VISIBILITY

OVER30,000 VPD

INVESTMENT HIGHLIGHTS

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SUMMARY OF TERMSINTEREST OFFEREDMarcus & Millichap has been selected to exclusively market for sale an Applebee’s restaurant, located in Dayton, Ohio..

TERMS OF SALEApplebee’s is offered on an Open Bid basis free and clear of existing debt. The net operating income figures for the Property are

based on current NNN rent payment. Historical operating documentation and third party reports can be provided by the Listing

Agent.

PROPERTY TOURSProspective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must

be arranged with the Marcus & Millichap listing agents. Please do not contact the tenants, on-site management or staff without

prior approval.property tours must be arranged with the Marcus & Millichap listing agents. At no time shall the tenants, on-site

management or staff be contacted without prior approval.

175+ UNIT OPERATOR WITH

LOCATIONS IN 15 STATES



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STATEWIDELOCATIONS

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PROPERTY DETAILSThe property is situated in a concentrated retail hub just north of the Interstate 75 and Interstate 675 interchange. It is located on an outparcel

to an Aldi supermarket anchored shopping center and across the street from a Lowe’s Home Improvement. Adjacent to Lowe’s is the Dayton

Auto Mall, which includes dealerships for Honda, Mazda, Nissan and Kia. Located one block south is Dayton Mall, a one million-plus square

foot regional retail destination with over 175 retailers. The mall is anchored by Macy’s, Elder-Beerman, Sears, JCPenney, hhgregg and Dick’s

Sportings Goods. The property has direct street frontage along Springboro Pike, which has average daily traffic counts of 30,401.

National retailers located in the immediate area include The Home Depot, Walmart Supercenter, Target, Best Buy, Toys R Us, Aaron’s, Ashley

Furniture, Babies R Us, Barnes & Noble, Office Depot, Jared Jewelers, La-Z-Boy Furniture, Party City, Michael’s, Hobby Lobby, Dollar Tree,

Mattress Firm, McDonald’s, Red Lobster, TGI Fridays, Burger King, Taco Bell, P.F. Chang’s, Wendy’s, KeyBank, National Tire & Battery, Waffle

House, Dunkin’ Donuts, Olive Garden, Verizon, Golden Corral, Menards, Pep Boys, Steak’n Shake, Cinemark Cinemas and Starbucks.

There are over 132,371 residents located within a five-mile radius. The property is located 10 miles south of Downtown Dayton and 40 miles

north of Cincinnati. Dayton is the sixth largest city in Ohio and the county seat of Montgomery County. The Dayton MSA is home to over 799,000

residents. Dayton’s local economy is rooted in the defense, aerospace and healthcare industries. The Dayton region is home to a high concen-

tration of aerospace and aviation technology companies. The National Air and Space Intelligence Center and Air Force Research Laboratory are

both located at Wright-Patterson Air Force Base (one of the Air Force’s largest air base wings), which is located in south Dayton. The Advanced

Technical Intelligence Center in Dayton is a joint effort between government, academic and industry partners to leverage advanced technical

intelligence expertise. Major employers in the area include Premier Health Partners, LexisNexis, Reynolds and Reynolds, CareSource, DPL,

Kettering Health Network and Standard Register.

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105 N Springboro Pike

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INVESTMENT OVERVIEW

TENTANT LEASE SUMMARY

Property Address 105 N. Springboro Pike

Tenant RMH Franschise Corp. DBA Applebee’s

Lease Guarantor RMH Franshise Holdings, Inc.

Lease Type Absolute NNN

Rood and Structure Tenant Responsible

Original Lease Terms 20 Years

Increases 10% Every 5 Years

Lease Commencement Date 12/20/13

Lease Exp. Date 12/31/33

Remaining Lease Term 17+ Years

Options 4,5 - Year Renewal Options

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105 N Springboro Pike

LOW RENT-TO-SALES RATIO

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132,371TOTAL POPULATION WITHIN 5-MILE RADIUS

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OVERVIEWAPPLEBEE’S

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LOCATION OVERVIEWThe property is situated in a concentrated retail hub just north of the Interstate 75 and

Interstate 675 interchange. It is located on an outparcel to an Aldi supermarket anchored

shopping center and across the street from a Lowe’s Home Improvement. Adjacent to

Lowe’s is the Dayton Auto Mall, which includes dealerships for Honda,

Mazda, Nissan and Kia. Located one block south is Dayton Mall, a one million-plus square

foot regional retail destination with over 175 retailers. The mall is anchored by Macy’s,

Elder-Beerman, Sears, JCPenney, hhgregg and Dick’s Sportings Goods. The property

has direct street frontage along Springboro Pike, which has average daily traffic counts

of 30,401.

National retailers located in the immediate area include The Home Depot, Walmart

Supercenter, Target, Best Buy, Toys R Us, Aaron’s, Ashley Furniture, Babies R Us, Barnes

& Noble, Office Depot, Jared Jewelers, La-Z-Boy Furniture, Party City, Michael’s, Hobby

Lobby, Dollar Tree, Mattress Firm, McDonald’s, Red Lobster, TGI Fridays, Burger King,

Taco Bell, P.F. Chang’s, Wendy’s, KeyBank, National Tire & Battery, Waffle House, Dunkin’

Donuts, Olive Garden, Verizon, Golden Corral, Menards, Pep Boys, Steak’n Shake,

Cinemark Cinemas and Starbucks.

There are over 132,371 residents located within a five-mile radius. The property is located 10 miles south of Downtown Dayton and 40

miles north of Cincinnati. Dayton is the sixth largest city in Ohio and the county seat of Montgomery County. The Dayton MSA is home to

over 799,000 residents. Dayton’s local economy is rooted in the defense, aerospace and healthcare industries. The Dayton region is home

to a high concentration of aerospace and aviation technology companies. The National Air and Space Intelligence Center and Air Force

Research Laboratory are both located at Wright-Patterson Air Force Base (one of the Air Force’s largest air base wings), which is located in

south Dayton. The Advanced Technical Intelligence Center in Dayton is a joint effort between government, academic and industry partners

to leverage advanced technical intelligence expertise. Major employers in the area include Premier Health Partners, LexisNexis, Reynolds

and Reynolds, CareSource, DPL, Kettering Health Network and Standard Register.

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APPLEBEE’SD A Y T O N , O H I O

OVER 132,371 RESIDENTS

LOCATED WITHIN

A FIVE-MILE RADIUS

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LOCAL RETAILERS

► David’s Bridal

► Toys R Us

► Aldi

► Aaron’s

► KFC

► Spring

► Godfather’s Pizza

► Home Depot

► Batteries + Bulbs

► Lowe’s

► Honda

► Nissan

► Mazda

► Kia

► Shell

RETAIL & RESTAURANTS

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LOCAL RETAILERS

► Mattress Firm

► Best Buy

► Ashley Furniture

► Uhaul

► Cinemark

► Dayton Mall: 100+ Retail &

Restaurants

► HH gregg

► Sears

► JCPenney

► Macy’s

► Old Navy

► Dick’s Sporting Goods

RETAIL & RESTAURANTS



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6THLARGEST CITY IN OHIO

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OLOCATION OVERVIEW

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DAYTON, OHIODayton is historically known for the Wright Brothers and the world’s first cash register.

Today, our community is driven by aerospace technology, advanced manufacturing,

abundant natural resources, a rich cultural heritage and a quality of life that rivals any

city in the country.

Dayton is the sixth-largest city in the state of Ohio and is the county seat of Mont-

gomery County. A small portion of the city extends into Greene County. In the 2010

census, the population was 141,527, and the Dayton metropolitan area had 799,232

residents, making it Ohio’s fourth-largest t, after Cleveland, Cincinnati, and Columbus

and the 63rd-largest in the United States. The Dayton-Springfield-Greenville Combined

Statistical Area had a population of 1,080,044 in 2010, making it the 43rd-largest in the

United States.

NATIONAL MUSEUM OF THE U.S. AIR FORCE

Located at the Wright-Patterson Air Force Base, and it is the

official museum of the United States Air Force.

CARILLON HISTORICAL PARK

65-acre urban green space that is home to several historic

structures and interpretive displays on the history of the city

of Dayton and its earliest residents.

F IFTH THIRD F IELD

Minor league baseball stadium in Dayton, Ohio, which is the

home of the Dayton Dragons, a Midwest League team and a

Single-A affiliate of the nearby Cincinnati Reds.

METRO HIGHLIGHTS

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► Growth rate faster rate than the nation in 2017

► Employers statewide will add nearly 75,000 jobs

► Unemployment rate 6.00%, with job growth of 1.34%

ECONOMY

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MAJOR AREA EMPLOYERS

LexisNexis

Ohio Aerospace Hub

Wright-Patterson Air Force Base

Premier Health

Kettering Health Network

Montgomery County

Kroger Co.

Wright State University

Miami University

Sinclair Community College

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DEMOGRAPHICS HIGHLIGHTS

124,735

$54,508 57,511

POPULATION

5 MILE MEDIAN HOUSEHOLD INCOME

NUMBER OF HOUSEHOLDS

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UNIT TYPE 1 MILE 3 MILES 5 MILES

2000 CensusTotal Population

5,633 58,599 124,735


5,644 67,347 134,587


5,647 64,720 132,371


5,356 69,649 140,671

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2000 ProjectionTotal Households

2,610 25,111 52,259

2010 EstimateTotal Households

2,835 29,674 57,256

2014 CensusTotal Households

2,837 29,674 57,511

2019 CensusTotal Households

2,730 30,917 59,978

HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES

$0 - $14,999 11.4% 10.0% 9.7%

$15,000 - $24,999 13.5% 11.2% 10.4%

$25,000 - $34,999 12.8% 11.8% 10.5%

$35,000 - $49,999 16.7% 16.4% 15.4%

$50,000 - $74,999 21.0% 18.2% 17.8%

$75,000 - $99,999 9.9% 13.0% 13.0%

$100,000 - $124,999 6.9% 8.5% 9.0%

$125,000 - $149,999 3.6% 4.3% 4.9%

$150,000 - $199,999 2.4% 3.7% 5.0%

$200,000 - $249,999 0.6% 1.2% 1.7%

$250,000 + 0.9% 1.8% 2.4%

2014 Median Household Income $45,550 $50,683 $54,508

2014 Per Capita Income $29,636 $30,953 $32,964

2014 Average Household Income $58,206 $69,810 $77,128

DAYTON, OHIOTHE “GEM CITY”

E X C L U S I V E LY L I S T E D B Y

APPLEBEE’S

MARCUS THEFELDAssociate

National Retail GroupCell 858.220.4960


License CA 01963272

MATT LOPICCOLOFirst Vice President InvestmentsDirector, National Retail Group

Cell 828.737.3156Office 828.373.3156

[email protected] CA 01835052

MICHAEL GLASSOhio Broker Of Record230 West St., Suite 100Columbus, OH 43215

614.360.9800License: BRK 2007005898

applebee’s · applebee’s 105 n. springboro pike, dayton, oh 45449 marcus thefeld associate...

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