dunkin’ donuts investment offering 5602 gulfport ......stetson university college of law....

DUNKIN’ DONUTS5602 Gulfport Boulevard SouthGulfport (Tampa MSA), Florida 33707

investment offering

REPRESENTATIVE PHOTO

DISCLAIMER

John R. WertzTel: (619) [email protected] Lic No. 01448585

Listed with Florida broker David B. ZachariaLic. No. BK3273628DZ Net Lease Realty, LLC license CQ1043817

This Marketing Package was prepared by Wertz Real Estate Investment Services and DZ Net Lease Realty, LLC (“Broker”) solely for the use of prospective buyer considering the purchase of the Property within (the “Property”) and is not to be used for any other purpose. Neither the Broker nor the Owner of the Property make any representation or warranty, expressed or implied, as to the completeness or accuracy of the material contained in the Marketing Package.

Prospective purchasers of the Property are advised that changes may have occurred in the physical or financial condition of the Property since the time this Marketing Package or the financial statements herein were prepared. Prospective purchasers acknowledge that this Marketing Package and the financial statements herein were prepared by Broker, and not by Owner, and are based upon assumptions or events beyond the control of both Broker and Owner, and therefore may be subject to variation. Other than current and historical revenue and operating expense figures for the Property, Owner has not, and will not, provide Broker or any prospective purchaser with any projections regarding the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

The Marketing Package is a solicitation of interest only and is not an offer to sell the Property. The Owner and Broker expressly reserve the right, at their sole discretion, to reject any or all expression of interest or offers to purchase the Property and expressly reserve the right, at their sole discretion, to terminate discussions with any entity at any time with or without notice.

The Owner shall have no legal commitments or obligations to any entity reviewing the Marketing Package or making an offer to purchase the Property unless and until such offer is approved by Owner pursuant to its Governing Authorities and the signature of the Owner or Owner’s representative is affixed to a Real Estate Purchase Agreement prepared by Owner.

This Marketing Package is confidential. By accepting the Marketing Package, you agree (i) that you will hold and treat the Marketing Package and its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Marketing Package, (iii) that you will not disclose the Marketing Package or any of its contents to any entity without the prior authorization of the Owner, and (iv) that you will not use the Marketing Package in any fashion or manner detrimental to the Owner or Broker.

Broker has obtained the information contained in this Marketing Package from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, changes of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions, or estimates for example only, and they may not represent current or future performance of the Property. You and your tax and legal advisors should conduct your own investigations of the physical condition of the Property and of the financial performance of its future Ownerships. All property showings are by appointment only. Please consult broker for more details.

TABLE OF CONTENTS

Exclusively Listed By:

Financial Overview

Tenant Overview

Investment Overview

Elevations

Property Photos

Location Map

Area Map

Market Overview

Demographic Report

3

4

5

6-8

9-12

13

14

15

16

financial overview

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Wertz Real Estate Investment Services, Inc.

PRICE $2,443,790

DOWN PAYMENT 100% / $2,443,790

RENTABLE SQUARE FEET 1,750 SF

cap rATE 5.25%

year built 2019

lot size 20,473 +/- Square Feet

type of ownership Fee Simple

OFFERING SUMMARY

TENANT TRADE NAME Dunkin’ Donuts

OWNERSHIP Public

LEASE GUARANTOR Franchisee

LEASE TYPE Absolute NNN

roof & structure Tenant Responsible

original lease term Fifteen (15) Years

rent commencement date 06/01/2019

lease expiration date 05/14/2034

term remaining on lease Fifteen (15) Years

increases 10% Every 5-Years

OPTIONS TO RENEW (4) 5-Year Options

RIGHT OF FIRST REFUSAL No

TENANT SUMMARY

ANNUALIZED OPERATING DATA

Rent Increases Annual Rent Monthly Rent

Years 1-5 $128,299.00 $10,692.00

Years 6-10 $141,129.00 $11,761.00

Years 11-15 $155,242.00 $12,937.00

Years 16-20 (Option 1) $170,769.72 $14,230.81

Years 21-25 (Option 2) $187,846.69 $15,653.89

Years 26-30 (Option 3) $206,631.36 $17,219.28

Years 31-35 (Option 4) $227,294.50 $18,941.21

BASE RENT $128,299.00

NET OPERATING INCOME $128,299.00

TOTAL RETURN 5.25% $128,299.00


DUNKIN’ BRANDS GROUP, INC.Dunkin’ Donuts, a subsidiary of Dunkin’ Brands Group, Inc. (Nas-daq: DNKN), is one of the largest coffee and baked goods chains in the world; with more than 12,000 restaurants in 36 countries. With over 19,000 points of distribution in nearly 60 countries worldwide, Dunkin’ Brands Group, Inc. is one of the world’s lead-ing franchisors of quick service restaurants (QSR), serving hot and cold coffee and baked goods. Dunkin’ Brands’ nearly 100 percent franchised business model includes more than 12,000 Dunkin’ Donuts restaurants and more than 7,700 Baskin-Robbins restaurants.

TENANT overview


TENANT TRADE NAME Dunkin’ Donuts

OWNERSHIP Public


LEASE TYPE Absolute NNN

roof & structure Tenant Responsible

original lease term Fifteen (15) Years

rent commencement date 06/01/2019

lease expiration date 05/14/2034

term remaining on lease Fifteen (15) Years

increases 10% Every 5-Years


RIGHT OF FIRST REFUSAL No

BASE RENT $128,299.00

NET OPERATING INCOME $128,299.00

TOTAL RETURN 5.25% $128,299.00

PROPERTY NAME Dunkin’ DonutsPROPERTY ADDRESS 5602 Gulfport Blvd S Gulfport (Tampa MSA), FL 33707

PROPERTY TYPE Net Lease Quick Service Restaurant

PARENT COMPANY Dunkin’ Brands Group, Inc.

oWNERSHIP Public


stock symbol DNKN

BOARD NASDAQ

TERM REMAINING ON LEASE Fifteen (15) Years


lease type Absolute NNN

LANDLORD RESPONSIBILITY None

INCREASES 10% Every 5-Years

year 1 net operating income $128,299.00

no. of locations 12,000+

headquartered Canton, Massachusetts

website www.dunkindonuts.com

years in the business Since 1950

ABOUT THE OPERATORPurple Square Management, a very experienced and successful growing franchisee of Popeyes and Dunkin’ Donuts, currently owns and operates over 75 locations in Florida, Georgia, Alabama and Louisiana. One of the largest and fastest growing Dunkin’ Donuts operators in the country, Purple Square Management most recently entered into a partnership with Super Bowl winning New Orleans Saints quarterback, Drew Brees to build and develop 69 Dunkin’ Donuts stores in the State of Louisiana. The tenant has earned Dunkin’ Brands’ “National Rising Star Award” (2008), “Franchisee of the Year Award” (2014), and “Philanthropist of the Year Award” (2015).


ABOUT THE OPERATORPurple Square Management, a very experienced and successful growing franchisee of Popeyes and Dunkin’ Donuts, currently owns and operates over 75 locations in Florida, Georgia, Alabama and Louisiana. One of the largest and fastest growing Dunkin’ Donuts operators in the country, Purple Square Management most recently entered into a partnership with Super Bowl winning New Orleans Saints quarterback, Drew Brees to build and develop 69 Dunkin’ Donuts stores in the State of Louisiana. The tenant has earned Dunkin’ Brands’ “National Rising Star Award” (2008), “Franchisee of the Year Award” (2014), and “Philanthropist of the Year Award” (2015).

ABSTRACTThe subject property is a newly constructed Dunkin’ Donuts drive-thru located in Gulfport (Tampa MSA), Florida. Rent commences on the brand new 15-year absolute NNN lease June 1st, 2019. There are 10% rental increases every 5-years in the primary term and in the (4) five-year option periods.

The property is located in the Tampa Bay Area just west of St. Petersburg, in a dense retail and residential trade area on Gulfport Boulevard South (22nd Avenue South). This Dunkin’ Donuts is a rare infill location strategically positioned on the morning side of the road, with no other coffee or donut shops nearby. Located just blocks west of the site is the Pasadena Golf & Yacht Club and Stetson University College of Law. Population exceeds 226,000 residents in a 5-mile radius. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.

Gulfport is a city in Pinellas County, Florida, bordering St. Petersburg and Boca Ciega Bay. The community is a western suburb of Tampa and is part of the Tampa, St. Petersburg, and Clearwater Metropolitan Area. The four-county area is composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C. and Atlanta.

INVESTMENT HIGHLIGHTS

• Brand New 2019 Construction

• 15-Year Absolute NNN Lease (Zero Landlord Responsibilities)

• 10% Rental Increases Every 5 Years

• Rare Coastal Florida “Infill” Site w/ Dense Local Population

• Over 226,000 Residents in a 5-Mile Radius

• Zero Competition (No Coffee or Donut Shops Nearby)

• Strategically Situated on the “Going to Work” Side of the Street



INVESTMENT overview


Elevations


Gulfport Police Department

AERIAL PHOTO


Gulfport Boulevard South

58th Street S

outh


Gulfport Montessori Elementary

Stetson University College of Law

Smokin’ J’s BBQ

Pasadena Golf & Yacht Club

SUBJECT PROPERTY



56th Stre

et S

SUBJECT PROPERTY



56th Street S

SUBJECT PROPERTY


Gulfport Boulevard South56th Street S

LOCATION MAP


AREA MAP



GULFPORT (TAMPA MSA), FLORIDAGulfport is a city in Pinellas County, Florida, bordering St. Petersburg and Boca Ciega Bay. The community is a western suburb of Tampa and is part of the Tampa-St. Petersburg-Clearwater Metropolitan Area. The four-county area is composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C. and Atlanta. Between 2000 and 2006, the Greater Tampa Bay Market experienced a combined growth rate of 14.8 percent, growing from 3.4 million to 3.9 million and hitting the 4 million population mark on April 1, 2007. A 2017 estimate shows the Tampa Bay area population to have 4,536,854 people.

Tampa Bay’s economy is founded on a diverse base that includes tourism, agriculture, construction, finance, health care, government, technology, and the port of Tampa. The largest employers in Tampa include BayCare Health System (19,600 employees), Publix Super Market (13,800 employees), HCA West Florida (13,150 employees), Frontier Communications (9,950 employees), and Tampa General Hospital (6,600 employees), among many others. Several Fortune 1000 companies are headquartered in the metropolitan area, including OSI Restaurant Partners, WellCare, TECO Energy, and Raymond James Financial. Tampa Bay is home to professional franchises for four major team sports: the Tampa Bay Rays of Major League Baseball, the Tampa Bay Buccaneers of the National Football League, the Tampa Bay Lightning of the National Hockey League, and the Tampa Bay Rowdies of the AFL.

"Old Florida" is a phrase often evoked in describing Gulfport's waterfront district, with its mix of small-scale cottages and small independent shops, restaurants and other businesses, situated among mature oak trees and brick-paved streets. Many of Gulfport's upscale modern homes are located within gated communities of the Pasadena Yacht and Country Club, which has hosted celebrities such as Babe Ruth, Arnold Palmer, and Michael Jordan on its golf course.

MARKET overview

Ranked #26in the Nation with a Gross Domestic Product of $133 Billion

2nd Largest MSAIn the State of Florida with aPopulation Exceeding 4 Million

Cutting-Edge Health CareHospitals are Among the Area’s Strongest Employers


population 1 MILE 3 MILES 5 miles

2024 Projection 14,757 95,507 237,334

2019 Estimate 14,059 91,160 226,096

2010 Census 13,215 85,768 210,502

Percent Change 2010-2019 6.39% 6.29% 7.41%

Percent Change 2019-2024 4.96% 4.77% 4.97%

Median Age 52.17 48.88 46.94

households 1 MILE 3 MILES 5 miles

2019 Est. Avg. HH Income $72,916 $77,269 $75,193

2024 Projection 7,404 43,662 108,305

2019 Est. Households 7,002 41,503 102,662

2010 Census 6,454 38,686 94,209

Percent Change 2010-2019 8.49% 7.28% 8.97%

Percent Change 2019-2024 5.74% 5.20% 5.50%

DEMOGRAPHIC REPORT




Wertz Real Estate Investment Services3138 Roosevelt Street, Suite L

Carlsbad, CA 92008Tel: (619) 218-6427Fax: (858) 408-1830

www.wertzrealestate.com

Listed with Florida broker David B Zacharia Lic. No. BK3273628

DZ Net Lease Realty, LLC license CQ1043817


dunkin’ donuts investment offering 5602 gulfport ......stetson university college of law....

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