dunkin’ donuts -...

DUNKIN’ DONUTSNEW ALBANY, IN

REPRESENTATIVE PHOTOREPRESENTATIVE PHOTO

BRAND NEW CONSTRUCTION 10-YEAR ABSOLUTE NNN LEASE

REPRESENTATIVE PHOTO

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DUNKIN’ DONUTS

5.50%CAP

$1,106,773PRICE

3012 ST. JOSEPH ROAD, NEW ALBANY, IN 47150

New 10-year absolute NNN lease

Three (3), five (5) year options with 10% increases

Traffic counts exceed 37,000 VPD

Average household income of over $73,000 in a 1-mile radius

Located off I-265, the major ring road surrounding Louisville, KY

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. Buyer must verify the information and bears all risk for any inaccuracies.

LEASABLE SF1,873 SF

LEASE EXPIRATION3/30/2027

LEASE TYPEAbsolute Net

LAND AREA0.40 AC

YEAR BUILT2017

PARKING20 Spaces

REPRESENTATIVE PHOTO3

Overview

https://www.google.com/maps/place/535+SE+3rd+St,+Bend,+OR+97701/@44.0444113,-121.3050884,17z/data=!3m1!4b1!4m5!3m4!1s0x54b8c636e30aba37:0x1234cd9a5460d96d!8m2!3d44.044445!4d-121.3029506

https://www.google.com/maps/place/3012+St+Joseph+Rd,+New+Albany,+IN+47150/@38.346322,-85.8011029,17z/data=!3m1!4b1!4m5!3m4!1s0x88696e673d5535f1:0xfbc2a683ba9d05bf!8m2!3d38.346322!4d-85.7989142

THE OFFERING provides an opportunity to acquire a new construction Dunkin’ Donuts strategically located just off of the intersection of I-265 and Charlestown Rd, in New Albany, IN, which is directly across the Ohio River from Louisville, Kentucky. I-265 is the major “ring road” surrounding Louisville and connects to I-64 (St Louis, Lexington – West/East respectively) and Charlestown Road is a primary North-South arterial that runs right through the center of New Albany, stretching from the Ohio River to I-65 (Indianapolis-Nashville). According to Sperling’s Best Places, job growth in Floyd County is expected to be 41.83% over the next ten years. Much of this growth is attributed to a very business-friendly political and economic climate in Southern Indiana as propelled by former Governor Mike Pence.

Dunkin’ Donuts is on a ten-year lease with ten percent increases every five years. The lease is absolute NNN, with tenant responsible for the cost of all repairs, taxes and insurance. The tenant currently operates 7 Dunkin’ Donuts in the greater Louisville area, as well as approximately 30 other restaurants in New York, New Jersey and Texas.

THE SUBJECT PROPERTY is next to a Waffle House and in close proximity to Kohl’s as well as a Meijer-anchored center that also features Regal Cinema and Goodwill. Other national fast food restaurants in close proximity include KFC, Dairy Queen, Zaxby’s, Arby’s and McDonald’s. The demographics are very solid with nearly 43,000 people within a 3-mile radius with average household incomes of $67,000 (and greater than $73,000 within a 1-mile radius). The site is also in close proximity to numerous educational facilities, including Indiana University Southeast (student pop: 5,874). Downtown Louisville is very easily accessible (approximately 14 miles away), making New Albany a very attractive bedroom community for commuters, in addition to its established and growing business landscape.

JOE CACCAMO [email protected]: 415.274.7394CA BRE# 01191110

Contact the team

IN CONJUNCTION WITH IN LICENSED BROKER: Joseph Cirillo

Priority One Realty

317.724.5518

DUNKIN’ DONUTS IS RANKED #1 IN REGULAR/DECAF FLAVORED COFFEE AND #1 IN DONUTS


CHRIS [email protected]: 415.274.2703CA BRE# 01339983


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Investment Highlights


265265

265

65

65G

RAN

T LI

NE

ST JOSEPH KAM

ER MILLER

LOUISVILLE KENTUCKY

46,041 VPD

32,100 VPD

COMMUNITY MONTESSORI

GRANT LINE ELEMENTARY

PROSSER CREEK

EDUCATION CENTER

PURDUE POLYTECHNIC NEW ALBANY

SLATE RUN ELEMENTARY

FAIRMONT ELEMENTARY

MT. TABOR ELEMENTARY

INDIANA UNIVERSITY SOUTHEAST

CHRISTIAN ACADEMY OF

INDIANA

®

CLARK REGIONAL AIRPORT

KENTUCKIANA MEDICAL CENTER

ELK RUN GOLF CLUB

OUR LADY OF PROVIDENCE

JUNIOR/SENIOR HIGH SCHOOL

67,900VPD

5,080 VPD


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Aerial

Indiana University SoutheastKohl’sWaffle HouseWendy’sShellCircle KEnterprise

SupercutsKrogerWalgreensWalmart SupercenterJCPennyDillardsUPS

Dick’s Sporting GoodsMainSource BankMeijerTaco BellDollar GeneralPNC BankBest Buy

BUSINESS SUMMARY

KEY 1-MILE 3-MILES 5-MILES

TOTAL 1-MILE 3-MILES 5-MILES

Businesses 209 1,483 3,499

Employees 2,386 26,677 55,405

Residential Population 6,133 44,984 100,667


Submarket Overview

RETAILERS IN CLOSE PROXIMITY INCLUDE:




PRICE $1,106,773 Price Per Square Foot: $590.91

Capitalization Rate: 5.50%

Total Rentable Area (SF): 1,873

Lot Size (AC): 0.40

STABILIZED INCOME PER SQUARE FOOTScheduled Rent $32.50 $60,873

Effective Gross Income $32.50 $60,873

LESS PER SQUARE FOOTTaxes NNN $0.00

Insurance NNN $0.00

Total Operating Expenses NNN $0.00

EQUALS NET OPERATING INCOME $60,873

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Income & Expense


TENANT INFO LEASE TERMS RENT SUMMARY

TENANT NAME SQ. FT. TERMS CURRENT RENT

MONTHLY RENT

YEARLY RENT

MONTHLY RENT/FT

YEAR RENT/FT

Dunkin’ Donuts 1,873 04/01/17 03/30/22 $60,873 $5,073 $60,873 $2.71 $32.50

04/01/22 03/30/27 $5,580 $66,960 $2.98 $35.75

Option 1 04/01/27 03/30/32 $6,138 $73,656 $3.28 $39.33

Option 2 04/01/32 03/30/37 $6,752 $81,021 $3.60 $43.26

Option 3 04/01/37 03/30/42 $7,427 $89,123 $3.97 $47.58

TOTALS: 1,873 $60,873 $5,073 $60,873 $2.71 $32.50

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Rent Roll

BASE RENT

DATE RANGE MONTHLY RENT ANNUAL RENT

4/1/17 - 3/30/22 $5,073 $60,8734/1/22 - 3/30/27 $5,580 $66,960

OPTION RENTS

DATE RANGE MONTHLY RENT ANNUAL RENT

#1. 4/1/27 - 3/30/32 $6,138 $73,656#2. 4/1/32 - 3/30/37 $6,752 $81,021#3. 4/1/37 - 3/30/42 $7,427 $89,123

RENT

TENANT Dunkin’ DonutsBUILDING SF 1,873 SFLEASE TYPE Absolute NetTERM 10 YearsGRAND OPENING December 2017EXPIRATION 3/30/2027OPTIONS Three (3), Five (5) Year Options

PREMISE& TERM

TAXESTenant shall be responsible for the actual property taxes and insurance, of the property paid to the Landlord in equal monthly payments.

INSURANCETenant shall maintain insurance covering its property for its full replacement value and comprehensive general liability insurance with a combined single limit of at least $2,000,000.TENANT’S OBLIGATIONSTenant shall maintain, at its sole cost and expense, the truckloading facilities, and utility services extending to the service connections within the premises, landscaping and common areas, repairs, replacement, and routine maintenance of the HVAC system that is not covered under the manufactures warranty. Tenant shall maintain the interior, non-structural improvements in the Premises including but not limited to, the plate glass storefront and doors, interior plumbing and electrical and the interior of the Premises, subject to latent defects.

LANDLORD’S OBLIGATIONSLandlord is responsible for paying the property taxes and maintaining an insurance policy, however the Tenant must reimburse Landlord for these expenses.

RIGHT OF FIRST REFUSALIf Landlord receives an offer to purchase the Property during the term of this Lease, the offer to purchase shall be satisfactory to Landlord, Tenant shall have the opportunity to purchase the property at the price and on the terms of said offer. Landlord shall give Tenant written notice via email requiring the Tenant to accept the offer in writing and to sign a contact to purchase the property within seven (7) days after receiving said notice.

EXPENSES

LEASEPROVISIONS


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Lease Abstract

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DNOT A PART

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

20SPACES

1,873RENTABLE SF

0.40ACRES

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Site Plan

Dunkin’ Donuts is a global coffee and donut chain based in Canton, Massachusetts. There are over 11,300 locations in 36 countries worldwide, with 8,500+ of those in the United States. Dunkin’ Donuts is the 8th largest Global Fast Food Chain. This world-wide restaurant chain offers quality coffee by the cup, espresso drinks to order, world famous donuts, and breakfast sandwiches.

Dunkin’ Donuts was founded in 1950 and is now a market leader for hot regular/decaf/flavored coffee, iced coffee, donut, bagel, and muffin categories. Dunkin’ Brands is the parent company of Dunkin’ Donuts and had system-wide sales of approximately $10.8 Billion in 2016.

ABOUT DUNKIN’ DONUTS

Hiren Patel (Lease Guarantor) through his entity, Anju Donuts of Louisville, LLC, purchased the ownership and operating rights to this Dunkin’ Donuts in October of 2017. According to the Seller, Patel (through various entities) operates over 30 fast food and fast casual restaurants in Kentucky, New Jersey, New York and Texas. Please contact Agent for more details.

LOCATIONS IN 41 STATES AND 36 COUNTRIES WORLDWIDE11,300

ABOUT THE FRANCHISEE



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Tenant Overview

POPULATION

1-MILE 3-MILES 5-MILES

2010 5,777 42,764 96,058

2017 6,133 44,984 100,667

2022 6,365 46,582 104,213

2017 HH INCOME

1-MILE 3-MILES 5-MILES

Average $73,124 $66,710 $59,769

Median $57,243 $50,899 $43,990

TOP EMPLOYERS IN FLOYD COUNTY

EMPLOYER # OF EMPLOYEES

Floyd Memorial Hospital 1,769

Floyd County Consolidated School Corp. 1,640

Samtec Inc. 1,052

Beach Mold and Tool 600

Hitachi Cable America Inc. 600

NEW ALBANY

LOUISVILLE (15 MIN 10 MILES)

THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS

IS OVER $73K


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Demographics

NEW ALBANY, INDIANA

NEW ALBANY is the county seat of Floyd County, Indiana, which is part of the KY–IN Metropolitan Statistical Area. New Albany lies right on the border between Indiana and Kentucky, with the Ohio river separating the two states. The city can be found only 11 miles from Louisville and 115 miles south of Indianapolis.

The city’s most common industries include Manufacturing, Healthcare & Social Assistance, and Retail trade. New Albany-Floyd County Consolidated School Corporation operates public schools, and the city is even home to Indiana University Southeast. The town is known for its Main Street featuring late 19th century architecture, an annual Harvest Homecoming festival, and many events all year centered around the Ohio River.

EMPLOYMENT IN NEW ALBANY is growing at a rate of 3.02%. This number is expected to grow, according the Sperlings Best Places, with future job growth over the next ten years

estimated to be 41.8%. New Albany is a part of Louisville MSA which, according to Forbes, is #1 in the nation for job growth in the manufacturing field.

EMPLOYMENT GROWTH

36,670

NEW ALBANY POPULATION (ESTIMATED)


LOUISVILLE, KY

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Location Overview

We’d love to hearfrom you.

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:

JOE CACCAMO [email protected]: 415.274.7394CA BRE# 01191110

CHRIS [email protected]: 415.274.2703CA BRE# 01339983


IN CONJUNCTION WITH IN LICENSED BROKER: Joseph Cirillo

317.724.5518

JOE CACCAMOJOHN ANDREINI

ZANDY SMITH

DAVE LUCAS

RICK SANNER AARON SUSMAN

CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS

JACK NAVARRA

http://capitalpacific.com/team/

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