long term lease | annual rent...

INVESTMENT OPPORTUNITY KENTUCKY FRIED CHICKENLONG TERM LEASE | ANNUAL RENT INCREASES

ST. PAUL, MN

OFFERED AT: $1,228,000 | 5.75% CAP

GALLUP, NM

EXECUTIVE SUMMARY PROPERTY INFORMATION TENANT OVERVIEW AREA OVERVIEW

KENTUCKY FRIED CHICKEN | Gallup, NM | 2

4 Offering Summary5 Investment Highlights6 Lease Summary & Rent Overview7 Lease Abstract

EXECUTIVE SUMMARY

9 Location Maps10 Site Plan11 Property Photos13 Neighboring Tenants14 Aerials

PROPERTY INFORMATION

20 About Kentucky Fried Chicken

TENANT OVERVIEWS

22 Gallup Overview23 Demographics

Confidentiality Agreement & Disclosures

AREA OVERVIEW

EXCLUSIVELY REPRESENTED BY

Color Scheme

Fonts

GOTHAM/ BLACKGOTHAM/ MEDIUMGOTHAM/ LIGHT

CMYK C:0 / M:100 / Y:65 / K:47

RGB R:145 / G:0 / B:40

CMYK C:0 / M:0 / Y:0 / K65

RGB R:119 / G:120 / B:123

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

TABLE OF CONTENTS

BROKER OF RECORD:Listed in conjunction with JDS Real Estate Services

NM Broker’s Lic#08838

AL APUZZOPrincipal

[email protected]

EXECUTIVE SUMMARYKENTUCKY FRIED CHICKEN | GALLUP, NM



PROPERTY OVERVIEW

Address: 2504 East Highway 66Gallup, NM 87301

Property Size: Approx 2,485 sq ft

Land Size: 0.695 Acres

Ownership: Fee Simple

Year Built: 1992 / Renovated 2014

INVESTMENT HIGHLIGHTSOffering Price: $1,228,000Net Operating Income: $70,583Cap Rate: 5.75%Price/SF: $494

Lee & Associates is pleased to exclusively offer for sale to qualified investors the opportunity to purchase a 100% fee-simple interest in a Kentucky Fried Chicken (“KFC”) property located at 2504 East Highway 66 in Gallup, New Mexico. Built in 1983, the Property consists of a 2,485 square foot retail building that sits on an approximately 0.695-acre parcel.

KFC is owned by Yum! Brands, Inc., and is the world’s most popular chicken restaurant chain with over 20,500 KFC outlets in more than 125 countries and territories around the world. Headquartered in Louisville, Kentucky, YUM! Brands, Inc. reported a company revenue of $6 billion in 2016.

The subject property is leased to Argonaut Food Partners, LLC (34 units) dba Kentucky Fried Chicken on a long-term absolute triple-net (NNN) lease with a guaranty from Argonaut Food Partners, Inc. This store is operated by an experienced 85-unit YUM Brands franchisee (operated under multiple store entities) with locations in AZ, OR, CA, MT, NM, MN, SD, ID, WY, ND, CO and WA (see Tenant Overview on Page 20).

There are 14+ years remaining on KFC’s 17-year triple-net (NNN) lease with (4) five-year renewal options. The lease features annual rent increases of 1.5% throughout the Primary term and the Option Periods. The Tenant has reported an ideal 5.3% rent to sales ratio along with unit level sales that are roughly 20% above KFC’s national average (Source: Statistica.com). This alleviates any future vacancy risk concerns and should provide any investor with a high comfort level that this location will be operating long term.

Located along historic Route 66, the site offers excellent visibility and signage to residents and travelers alike, as well as multiple entry points to the property. This corridor is the main corridor to downtown Gallup used by travelers and commuters in the area. This main artery features neighboring tenants including Blake’s Lotaburger, UPS Store, Verizon Wireless Sonic Drive-In, Wendy’s, McDonald’s, Days Inn, Walgreen’s, Albertsons, Pizza Hut, Baskin-Robbins, and many more.

The subject property is located in the city of Gallup, in northwestern New Mexico near the Four Corners region. Gallup is situated midway between Albuquerque, NM and Flagstaff, AZ on Interstate 40 and is bisected by historic U.S. Highway 66. Gallup is the county seat of McKinley County, and has a population of approximately 21,678. Gallup is an outdoor enthusiasts paradise, offering rock climbing, world-class hiking and biking trails, and thousands of recreational acres in state and national forests for hunting, fishing and horseback riding. Visitors also flock to Gallup annually to be part of the various events held in the area, such as the Inter-Tribal Indian Ceremonial featuring five days of Native American dancing, parades, elaborate costumes, authentic food, and music; the Red Rock Balloon Rally, one of the world’s largest balloon rallies, which sees 200+ balloons ascending into the skies.

-- OFFERING SUMMARY --

• Offering Summary • Lease Summary & Rent OverviewInvestment Highlights Lease Abstract



-- INVESTMENT HIGHLIGHTS --

GLOBALLY RECOGNIZED TENANT: KENTUCKY FRIED CHICKEN (“KFC”) • EXPERIENCED HIGHLY SUCCESSFUL 85 UNIT MULTI-STATE OPERATOR Kentucky Fried Chicken (“KFC”), is the world’s most popular chicken restaurant chain with over 20,500 KFC outlets in more than 125 countries and territories around the world. Headquartered in Louisville, Kentucky, KFC is owned by Yum! Brands, Inc., which also owns Pizza Hut and Taco Bell and reported a company revenue of $6 billion in 2016.

The Franchisee is a successful KFC Operator with over 85 KFC locations in 12 states (operated under multiple store entities). The Franchisee has been in the KFC system for over 23 years and is recognized as a Preferred Growth Partner with KFC Corporate (see Tenant Overview on Page 20).

5.3% RENT TO SALES RATIO • UNIT LEVEL SALES 18% ABOVE KFC NATIONAL AVERAGE • HIGHLY PROFITABLE LOCATIONThe Tenant has reported an ideal 5.3% rent to sales ratio along with unit level sales that are roughly 18% above KFC’s national average (Source: Statistica.com). This alleviates any future vacancy risk concerns and provides a future investor with a long-term passive income stream.

LONG TERM ABSOLUTE NNN LEASE • RENT GROWTH • ZERO LANDLORD RESPONSIBILITIESThe original 17-year lease has 14+ years remaining and features 1.5% annual rent increases in the Primary term as well as throughout the (4) 5-year Option Periods. In addition, the triple-net (NNN) lease provides an investor with zero landlord responsibilities.

LOCATED ON HISTORIC ROUTE 66 • FIRST EXIT OFF I-40 FROM ALBQUQUERQUE • EXCELLENT VISIBILITY & ACCESS The subject property is located near the first exit tavelers encounter arriving from Albuquerque, with frontage along Historic Route 66, a major corridor to downtown Gallup used by travelers and commuters in the area. The site offers excellent visibility and signage to residents and travelers alike, as well as easy in/out access to the property.

SURROUNDED BY CITY OFFICES, SCHOOLS, RESIDENTIAL • STRONG RETAIL SYNERGYThe Property is surrounded by 1200 households within a 1-mile radius, and strategically located close to the Gallup City offices, Police Department, and Motor Vehicle Dept., as well as several schools, including the Miyamura High School, providing a strong draw to the area for office and government workers and students. This central retail area features neighboring tenants including Blake’s Lotaburger, UPS Store, Verizon Wireless Sonic Drive-In, Wendy’s, McDonald’s, Days Inn, Walgreen’s, Albertsons, Pizza Hut, Baskin-Robbins, and many more, offering excellent retail synergy.

LOCATED IN THE CITY OF GALLUP • STRONG ECONOMY FOR TRANSPORTATION, ENERGY, HEALTH CARE The subject property is located in the City of Gallup, the county seat of McKinley County and the most populous city between Flagstaff and Albuquerque. Gallup is a transportation hub and its location along Interstate 40 and the Burlington North Santa Fe Railroad Transcon line provides Gallup with a strategic and competitive edge for distribution and access to major markets.

The area offers a strong variety of energy resources including oil, natural gas, coal, and solar. Since 1927, Gallup/northeast McKinley County has been produced 27.5 billion cubic-feet of oil and 6.9 billion cubic-feet of gas. With an average of nearly 280 sunny days a year, Gallup is ideally suited to take advantage of solar-energy resources.

Gallup is the regional health care hub for an estimated 200,000 people living in northwest New Mexico and northeast Arizona. The Gallup Indian Medical Center and Rehoboth McKinley Christian Hospital are two of the area’s largest providers of health care, employing nearly 2300 between them.

Offering Summary Lease Summary & Rent Overview• Investment Highlights • Lease Abstract

Downtown Gallup, NM



-- LEASE SUMMARY --

INVESTMENT SUMMARYTenant: Argonaut Food Partners LLC (34 Units)

dba Kentucky Fried ChickenGuarantor: Argonaut California Ventures, Inc.

Building Size: 2,485 SF

Lot Size: 0.695 Acres

Ownership: Fee Simple

Year Built: 1992 / Renovated 2014

TERMS, BASE RENT & OPTIONSAnnual Base Rent: $70,583.29

Lease Commencement: August 7, 2015

Lease Expiration: July 31, 2032

Lease Term: 17 Years

Term Remaining: 14+ Years

Options to Renew: (4) 5-Year Options

Rent Increases: 1.50% Annually

Lease Type: Absolute NNN

Landlord Responsibilities: None

RENT SCHEDULE - PRIMARY TERM

Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/Mo Increase

Year 3 8/1/2017 7/31/2018 $70,583.29 $5,881.94 $28.40 $2.37 1.50%

Year 4 8/1/2018 7/31/2019 $71,642.04 $5,970.17 $28.83 $2.40 1.50%

Year 5 8/1/2019 7/31/2020 $72,716.67 $6,059.72 $29.26 $2.44 1.50%

Year 6 8/1/2020 7/31/2021 $73,807.42 $6,150.62 $29.70 $2.47 1.50%

Year 7 8/1/2021 7/31/2022 $74,914.53 $6,242.87 $30.14 $2.51 1.50%

Year 8 8/1/2022 7/31/2023 $76,038.25 $6,336.52 $30.60 $2.55 1.50%

Year 9 8/1/2023 7/31/2024 $77,178.82 $6,431.56 $31.05 $2.58 1.50%

Year 10 8/1/2024 7/31/2025 $78,336.50 $6,528.04 $31.52 $2.62 1.50%

Year 11 8/1/2025 7/31/2026 $79,511.55 $6,625.96 $32.00 $2.67 1.50%

Year 12 8/1/2026 7/31/2027 $80,704.22 $6,725.35 $32.47 $2.70 1.50%

Year 13 8/1/2027 7/31/2028 $81,914.78 $6,826.23 $32.96 $2.74 1.50%

Year 14 8/1/2028 7/31/2029 $83,143.50 $6,928.62 $33.45 $2.79 1.50%

Year 15 8/1/2029 7/31/2030 $84,390.65 $7,032.55 $33.96 $2.83 1.50%

Year 16 8/1/2030 7/31/2031 $85,656.51 $7,138.04 $34.47 $2.87 1.50%

Year 17 8/1/2031 7/31/2032 $86,941.35 $7,245.11 $34.98 $2.91 1.50%

RENT SCHEDULE - (4) 5-YEAR OPTIONS

Start Date End Date NOI/Yr NOI/Mo NOI/SF/Yr NOI/SF/Mo Increase

Option 1 8/1/2032 7/31/2037 Annual Increases of 1.50%




-- RENT OVERVIEW --

Offering Summary • Lease Summary & Rent Overview •Investment Highlights Lease Abstract



Offering Summary Lease Summary & Rent OverviewInvestment Highlights • Lease Abstract •

-- LEASE ABSTRACT --

Property Taxes Lessee shall pay directly to the taxing, assessing, or levying authority the amount of all taxes, assessments, excises, levies, license fees, and other governmental charges.

Insurance

Lessee, during the term of this Lease or any renewals or extensions hereof, shall, at its expense, maintain and keep in force general public liability insurance for claims for bodily injury, death, or property damage occurring in or on the Leased Premises.Lessee shall obtain and maintain insurance upon the Leased Premises insuring against loss or damage by fire and from lightning and other risks from time to time included under “special form” or “all risk coverage” policies.

Utilties Lessee shall pay all charges for utilities at the Leased Premises.

Landlord Repairs/Maintenance NONE

Tenant Repairs/MaintenanceLessee shall, at its sole cost and expense, keep and maintain the Leased Premises and all improvements thereon in good condition and repair, including but not limited to the store front, the roof, foundation, walls, parking areas, painting of the inte1ior and exterior, plumbing, air conditioning, and other systems within the bu.ildjng, and all shrubs and plantings, and necessary lights for Lessee to conduct its business.

Termination Right NONE

Right of First Offer / Right of First RefusalThe Lessee shall have the one-time option to purchase the Leased Premises at any time during the term of this Lease or any extension thereof. Lessee may exercise such option by providing written notice of such exercise to Lessor. The consideration to be paid by Lessee to Lessor for the Leased Premises shall be equal to the amount for which Lessor purchased the Leased Premises plus an additional sum of Twenty-five Thousand and no/l 00 Dollars ($25,000.00).

Estoppel CertificateUpon the request by Lessor, Lessee will execute, acknowledge, and deliver to Lessor a statement in writing certifying that this Lease is unmodified and in full force and effect ( or if there have been modifications, that the same is in full force and effect as modified and stating the modification), and the date to which the Base Rent has been paid in advance, if any, and confirming Lessee’s acceptance of the Premises, the commencement of the lease term, and the rent provided under the Lease.

PROPERTY INFORMATIONKENTUCKY FRIED CHICKEN | GALLUP, NM



-- LOCATION MAPS --

• Location Maps • Property Photos AerialsSite Plan Neighboring Tenants

Pacific Ocean

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-- SITE PLAN --

Location Maps Property Photos Aerials• Site Plan • Neighboring Tenants

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Location Maps • Property Photos • AerialsSite Plan Neighboring Tenants

-- PROPERTY PHOTOS --



-- NEIGHBORING TENANTS --

Location Maps Property Photos AerialsSite Plan • Neighboring Tenants •

McDonalds - Located West of Subject Property Wendy’s - Located Next to Subject Property

Verizon Wireless Store - Next to McDonald’s



-- OVERHEAD VIEW --

Location Maps Property Photos • Aerials •Site Plan Neighboring Tenants

STARTRONIC SOUND

PRONTO FINA FOOD MART

GALLUP TRANSMISSIONS

RED BLUFF MOBILE HOME PARK

HILLCREST MOBILE HOME PARK

E AZTEC

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7,000 CARS PER DAY



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GALLUP MCKINLEYCOUNTY SCHOOLS

GALLUP AQUATIC CENTER

NCI ALCOHOLTREATMENT CENTER

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JEFFERSONELEMENTARY SCHOOL

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MCKINLEY COUNTYMETROPOLITAN

7,000 CA

RS PER DAY

86,000 CARS PER DAY

TENANT OVERVIEWKENTUCKY FRIED CHICKEN | GALLUP, NM



-- YUM! BRANDS, INC. --

-- ABOUT KFC --

• About KFC •

ABOUT THE OPERATORThe subject property is operated by an experienced franchisee (operated under multiple store entities), with locations in AZ, CA, OR, MT, NM, MN, SD, ID, WY, ND, CO, and WA. The subject property is leased to Argonaut Food Partners, LLC, dba Kentucky Fried Chicken on a long-term absolute triple-net (NNN) lease.

• 85 Total Stores Operated by Franchisee in 12 States• Preferred Growth Partner with KFC Corporate• Franchisee has 23+ Years Experience with YUM! Brands• Lease Guaranty by Argonaut California Ventures, Inc.• #1 Franchisee - Large Operator in KFC System in 2016• Argonaut Food Partners, LLC & Subsidiaries Operates 34 Units

KFC is a subsidiary of YUM! Brands, Inc. (NYSE: YUM), the largest restaurant company in the world with KFC, Pizza Hut, Taco Bell, and WingStreet under its umbrella of fast-food and fast-casual brands. Yum! Brands, Inc., based in Louisville, Kentucky, has over 43,500 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. In 2017, Yum! Brands was named among the top 100 Best Corporate Citizens by Corporate Responsibility Magazine. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

Yum! Brands is ranked number 218 on the Fortune 500 list, with revenues exceeding $6 billion in 2016.

KFC, until 1991 known as Kentucky Fried Chicken, is an American fast food restaurant chain that specializes in fried chicken. Headquartered in Louisville, Kentucky, it is the world’s second-largest restaurant chain (as measured by sales) after McDonald’s, with more than 20,500 locations globally in 125 countries and territories. The KFC Corporation is one of the few brands in America that can boast a decades-long history of success and has been operating for more than 70 years.

KFC was founded by Colonel Harland Sanders, an entrepreneur who began selling fried chicken from his roadside restaurant in Corbin, Kentucky during the Great Depression. Sanders identified the potential of the restaurant franchising concept, and the first “Kentucky Fried Chicken” franchise opened in Utah in 1952. KFC popularized chicken in the fast food industry, diversifying the market by challenging the established dominance of the hamburger. By branding himself as “Colonel Sanders”, Harland became a prominent figure of American cultural history, and his image remains widely used in KFC advertising.

KFC’s original product is pressure fried chicken pieces, seasoned with Sanders’ recipe of 11 herbs and spices. The constituents of the recipe represent a notable trade secret. Larger portions of fried chicken are served in a cardboard “bucket”, which has become a well known feature of the chain since it was first introduced by franchisee Pete Harman in 1957. Since the early 1990s, KFC has expanded its menu to offer other chicken products such as chicken fillet burgers and wraps, as well as salads and side dishes, such as French fries and coleslaw, desserts, and soft drinks, the latter often supplied by PepsiCo. KFC is known for its slogans “Finger Lickin’ Good”, “Nobody does chicken like KFC” and “So good”.

Sanders’ Original Recipe of “11 herbs and spices” is one of the most famous trade secrets in the catering industry. The recipe is not patented, because patent law requires public disclosure of an invention and provides protection only for a strictly limited term, whereas trade secrets can remain the intellectual property of their holders in perpetuity. A copy of the recipe, signed by Sanders, is held inside a safe inside a vault in KFC’s Louisville headquarters, along with eleven vials containing the herbs and spices. To maintain the secrecy of the recipe, half of it is produced by Griffith Laboratories before it is given to McCormick, who add the second half.

FINGER LICKIN’ GOOD

AREA OVERVIEWKENTUCKY FRIED CHICKEN | GALLUP, NM



-- PHOENIX OVERVIEW --

• Gallup Overview • Demographics

The City of Gallup is the county seat of McKinley County and the most populous city between Flagstaff and Albuquerque. Known as the “Heart of Indian Country”, a substantial percentage of its population is Native American, with residents from the Navajo, Hopi, and Zuni tribes. In 1880, David L. Gallup, a paymaster for the Atlantic and Pacific Railroad, established The railroad workers began “going to Gallup” to get their pay, thus a town was born. During World War II, the city fought successfully to prevent 800 Japanese American residents from being placed in wartime internment, the only New Mexico city to do so.

Most Patriotic Small Townin America 2013

- Rand McNally

Strategic Transportation Corridor - Strong Energy Resources - Health Care HubGallup is a transportation hub, strategically located in the heart of the nation’s fastest growing states: Arizona, Colorado, Nevada, and Texas. Its location along Interstate 40 and the Burlington Northern Santa Fe Railroad Transcon line provides Gallup with a strategic and competitive location for distribution and access to major markets.

Since 1927, the Gallup/northeast McKinley County area has been the site of oil, natural gas, and coal production. A cumulative total of 27.5 billion cubic-feet of oil and 6.9 billion cubic-feet of gas have been produced. In addition, with an average of nearly 280 sunny days per year, Gallup is ideally suited to take advantage of solar-energy resources. The City of Gallup is the third largest municipality owned utility in New Mexico in terms of energy sales and second in terms of total electric customers, providing electric services for approximately 11,000 accounts in the greater Gallup area. Top energy employers include Peabody Energy, Andeaveor/Western Refining, Escalante Generating Station, and El Paso Natural Gas Company.

Gallup is the regional health care hub for an estimated 200,000 people living in the northwest New Mexico and northeast Arizona, including a service area that covers a substantial portion of the Navajo Nation. The Gallup Indian Medical Center and Rehoboth McKinley Christian Hospital are two of the area’s largest providers of health care, employing nearly 2300 between them.

Gallup was a popular location in the 1940s and 1950s for the on-location shooting of Westerns. Its rugged terrain and expansive space made it a favorite Hollywood locale, and its historic El Rancho Hotel & Motel has hosted numerous movie stars including John

Wayne, Ronald Reagan, Humphrey Bogart, Spencer Tracy, Katharine Hepburn, Joan Crawford, Kirk Douglas, Doris Day, Gregory Peck, and Burt Lancaster.

Home of the University of New Mexico-Gallup - Largest Campus in the UNM System - Proximity to Education/Workforce TrainingThe University of New Mexico-Gallup is a comprehensive career technical and transfer institution that offers certificates in 19 disciplines and Associate’s degrees in 28 programs. The Gallup campus is the largest of the four UNM branch campuses, serving approximately 2200 students. The college also includes the 25,000-square-foot Zuni South Campus and a 2,500-square-foot facility on Gallup’s north side.

New Mexico Ranks in Top 10 for Innovation Capacity - International Transportation HubThe Information Technology and Innovation Foundation (ITIF) developed the State New Economy Index, which measures the economic structure of all states using 25 different indicators. New Mexico ranks 33rd in the overall index, but the state is positioned for movement towards a tech-driven economy. The ITIF states, “many parts of the state outside these metropolitan regions are more rooted in the industrial-age economy, with more jobs in traditional manufacturing, agriculture, and lower-skilled services; a less-educated workforce; and a less-developed innovation infrastructure.” However, New Mexico is home to two national labs and booming production of semiconductors, providing a plethora of high-tech jobs and federal R&D funding. These labs are the source of New Mexico’s top 10 ranking in the Innovation Capacity category and success in the following areas:

• High-Tech Jobs: New Mexico achieves a ranking of 2nd in high-tech employment, with 7.3% of private-sector employment concentrated in high-tech industries. With this comes significantly higher wages, bringing a more skilled workforce.

• Non-Industry Investment in R&D: New Mexico makes up for lack of industry R&D investment by ranking first in non-industry R&D. With non-industry R&D investment contributing to 5.8% of Gross State Product, New Mexico is leaps and bounds ahead of all other states. Maryland receives the 2nd ranking with 4.1%, followed by Massachusetts at 1.4%. The ITIF also posits that, “…the federal government invests billions on federal laboratories, which foster partnerships with universities and private industries and help lay the foundation for future private-sector research.”

VIEW ARTICLE HERE

“Adventure Capital of New Mexico” - Outdoor Recreation, Regional Events, Native American Traditions In 2011, Gallup was given the title “Adventure Capital of New Mexico” by the New Mexico State Legislature for the area’s 52+ miles of hiking/biking trails along the High Desert Trail System, Red Rock Park, and the Zuni Mountain Trail System; rock climbing, mountain biking, snowshoeing, and hunting.

The Gallup area hosts numerous events throughout the year that draw residents and visitors alike. Free summer nightly Indian Dances have been an ongoing event for almost 30 years. The Red Rock Balloon Rally is the second-largest balloon festival in North America, and has been held annually in Gallup since 1981. The Red Rock Balloon Rally has received numerous awards, including “Best Balloon Event in The West” (Ballooning Magazine), “Most Outstanding Event” (New Mexico Tourism Association), “Outstanding Community Event” (Gallup Chamber of Commerce).

Source: GallupNM.gov

https://www.camoinassociates.com/featured-indicator-state-new-economy-index-states-unexpectedly-high-innovation-capacity?utm_source=Economic%20Development%20Navigator&utm_campaign=d92b1938ba-EMAIL_CAMPAIGN_2017_11_22&utm_medium=email&utm_term=0_772c38cc03-d92b1938ba-203323241



Demographic Source: Applied Geographic Solutions 10/2017, TIGER Geography page 1 of 1©2018, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 35.5293/-108.7030RS1

2504 E Hwy 663 mi radius 5 mi radius 7 mi radius

Gallup, NM 87301

PO

PU

LATI

ON

2017 Estimated Population 18,880 24,477 26,939

2022 Projected Population 16,490 21,332 23,495

2010 Census Population 17,773 23,057 25,361


Projected Annual Growth 2017 to 2022 -2.5% -2.6% -2.6%

Historical Annual Growth 2000 to 2017 0.4% 0.4% 0.4%

2017 Median Age 31.8 30.9 30.9

HO

US

EH

OLD

S

2017 Estimated Households 6,340 7,977 8,678

2022 Projected Households 6,347 7,982 8,693

2010 Census Households 6,351 7,956 8,641


Projected Annual Growth 2017 to 2022 - - -


RA

CE

AN

DE

THN

ICIT

Y

2017 Estimated White 32.1% 29.0% 27.3%

2017 Estimated Black or African American 1.6% 1.5% 1.4%

2017 Estimated Asian or Pacific Islander 2.7% 2.2% 2.1%

2017 Estimated American Indian or Native Alaskan 26.3% 27.9% 29.3%

2017 Estimated Other Races 37.3% 39.3% 39.9%

2017 Estimated Hispanic 31.3% 31.4% 29.5%

INC

OM

E 2017 Estimated Average Household Income $52,785 $51,483 $50,205

2017 Estimated Median Household Income $49,745 $47,439 $46,542

2017 Estimated Per Capita Income $18,209 $17,156 $16,519

ED

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ATI

ON

(AG

E 2

5+)

2017 Estimated Elementary (Grade Level 0 to 8) 6.1% 7.4% 7.6%

2017 Estimated Some High School (Grade Level 9 to 11) 11.8% 13.0% 13.5%

2017 Estimated High School Graduate 26.8% 28.6% 28.9%

2017 Estimated Some College 24.4% 23.6% 23.7%

2017 Estimated Associates Degree Only 7.7% 7.8% 7.8%

2017 Estimated Bachelors Degree Only 12.1% 10.5% 9.9%

2017 Estimated Graduate Degree 11.2% 9.1% 8.5%

BU

SIN

ES

S 2017 Estimated Total Businesses 1,122 1,464 1,488

2017 Estimated Total Employees 12,368 16,538 16,868

2017 Estimated Employee Population per Business 11.0 11.3 11.3

2017 Estimated Residential Population per Business 16.8 16.7 18.1BU

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Demographic Source: Applied Geographic Solutions 10/2017, TIGER Geography page 1 of 1©2018, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2017 Estimates with 2022 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Lat/Lon: 35.5293/-108.7030RS1

2504 E Hwy 663 mi radius 5 mi radius 7 mi radius

Gallup, NM 87301

PO

PU

LATI

ON

2017 Estimated Population 18,880 24,477 26,939

2022 Projected Population 16,490 21,332 23,495



Projected Annual Growth 2017 to 2022 -2.5% -2.6% -2.6%


2017 Median Age 31.8 30.9 30.9

HO

US

EH

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2017 Estimated Households 6,340 7,977 8,678

2022 Projected Households 6,347 7,982 8,693



Projected Annual Growth 2017 to 2022 - - -


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AN

DE

THN

ICIT

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2017 Estimated White 32.1% 29.0% 27.3%

2017 Estimated Black or African American 1.6% 1.5% 1.4%

2017 Estimated Asian or Pacific Islander 2.7% 2.2% 2.1%

2017 Estimated American Indian or Native Alaskan 26.3% 27.9% 29.3%

2017 Estimated Other Races 37.3% 39.3% 39.9%

2017 Estimated Hispanic 31.3% 31.4% 29.5%

INC

OM

E 2017 Estimated Average Household Income $52,785 $51,483 $50,205

2017 Estimated Median Household Income $49,745 $47,439 $46,542

2017 Estimated Per Capita Income $18,209 $17,156 $16,519

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2017 Estimated Elementary (Grade Level 0 to 8) 6.1% 7.4% 7.6%

2017 Estimated Some High School (Grade Level 9 to 11) 11.8% 13.0% 13.5%

2017 Estimated High School Graduate 26.8% 28.6% 28.9%

2017 Estimated Some College 24.4% 23.6% 23.7%

2017 Estimated Associates Degree Only 7.7% 7.8% 7.8%

2017 Estimated Bachelors Degree Only 12.1% 10.5% 9.9%

2017 Estimated Graduate Degree 11.2% 9.1% 8.5%

BU

SIN

ES

S 2017 Estimated Total Businesses 1,122 1,464 1,488

2017 Estimated Total Employees 12,368 16,538 16,868

2017 Estimated Employee Population per Business 11.0 11.3 11.3

2017 Estimated Residential Population per Business 16.8 16.7 18.1

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-- DEMOGRAPHICS --

• Demographics •Gallup Overview

Lee & Associates hereby advises all prospective purchasers of Net-Leased Invesment property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Lee & Associates has not and will not verify any of this information, nor has Lee & Associates conducted any investigation regarding these matters. Lee & Associates makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of an investment property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase.This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Lee & Associates expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of an investment property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any investment property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Lee & Associates and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this investment property.

Exclusively Listed By:

No warranty or representation is made as to the accuracy of the foregoing information. Terms of sale, lease, and availability are subject to change or withdrawal without notice.

BARR&BENNETTNETLEASEDINVESTMENTS

A Lee & Associates Team

RYAN BARRPrincipal

[email protected]

RYAN BENNETTPrincipal

[email protected]

AL APUZZOPrincipal

[email protected]

BROKER OF RECORD:Listed in conjunction with JDS Real Estate Services

NM Broker’s Lic#08838

long term lease | annual rent...

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