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RALLY'S
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ABSOLUTE NNN | $1,703,680401 KENTUCKY DRIVE, KOKOMO, INDIANA
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Rally's CONTENTS
Steven DavisManaging Member 480-429-4580
License # 101032000
Exclusively Marketed by:
Sean StephensonSenior Associate 480-429-4580
License # 672380000
We obtained the following information above 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,change 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 the current or future performance of theproperty. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
8255 East Raintree Drive Suite 100Scottsdale, AZ 85260
01 Executive Summary56
Executive Summary Tenant Summary Property Images 7
02 Demographics9Demographics
Demographic Charts 10
Michael HavdalaBroker of Record License # RB14045475 HSA Commercial Real Estate
Rally's Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER:
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to bereviewed only by the party receiving it from Retail Investment Group and it should not be made available to any other person orentity without the written consent of Retail Investment Group.
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such informationin the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offeringmemorandum. If you have no interest in the subject property, please promptly return this offering memorandum to RetailInvestment Group. This offering memorandum has been prepared to provide summary, unverified financial and physicalinformation 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. Retail Investment Group has notmade 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, thepresence of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, thephysical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans orintentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, RetailInvestment Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Groupconducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracyor completeness of the information provided. All potential buyers must take appropriate measures to verify all of the informationset forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONTACT RETAIL INVESTMENT GROUP FOR MORE DETAILS.
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Executive Summary
Offering Summary
Location Summary
Rally's Executive Summary | 05
OFFERING SUMMARY
ADDRESS 401 Kentucky Drive Kokomo IN46902
COUNTY Howard
LEASE TYPE Absolute NNN
CAP RATE 8.20%
BUILDING SQUARE FEET ±1,000
LAND SQUARE FEET/ACRES ±41,862/ 0.96
YEAR BUILT 2008
TENANT Rallys
OWNERSHIP TYPE Fee Simple
FINANCIAL SUMMARY
OFFERING PRICE $1,703,680
PRICE PSF $1,703.68
OCCUPANCY 100 %
RALLYS RENT $131,769
SIGN RENT $7,986/ Annually
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE
2017 Population 7,661 32,145 62,966
2017 Median HH Income $47,551 $50,224 $46,777
2017 Average HH Income $58,577 $64,957 $61,991
Checkers - Corporate Guarantee Lease
Oversized Lot with Frontage along Highway 31
42,300+ VPD along Highway 31, a six-lane highway and a primary thoroughfare for the City of Kokomo
Located in the same plaza as Courtyard Marriott, Speedway, Pizza Hut, and Dollar General
Additional Sign Income - Base Rent: 131,769 Plus Marriott Signage Lease: $7,986 Annual Rent
Offered for sale is a Rally's location in Kokomo, Indiana. The property is ±1,000 square feet and sits on ±41,862 square feet of land. The property is located at the corner of Kentucky Drive and Highway 31.
The property is surrounded by numerous retailers including Courtyard by Marriot, Pizza Hut Speedway, Dollar General, IHOP, Golden Corral, Lowe's Home Improvement, Culver's, Cracker Barrel Old Country Store, Texas Roadhouse, Ashley Home Store, Burger King, Scoops Ice Cream, Arby's, Subway, and Olive Garden Italian.
Located only ±1 Mile to Community Howard Regional Health with 1,280+ staff. Only ±2 Miles to Indiana University Kokomo with 4,000+ Students and Staff. Only 2 Miles from the Chrysler Transmission Plant which has ±3,583 employees.
About Kokomo, Indiana:
The City of Kokomo, Indiana is the county seat of Howard County, Indiana. Kokomo is a large manufacturing town with major employers such as FCA US, LLC (Fiat Chrysler Automobiles), Kokomo Transmission Plant (3,500+ employees), Kokomo Casting Plant(1,200+ employees), Indiana Transmission Plant I & II (2,400+ employees), Aptiv, Delphi Technologies, GM Components Holdings LLC, Haynes International, Holder Mattress, Syndicate Sales, and Coca-Cola Bottling Plant.
Nearby Colleges & Universities include Howard College, Indiana University Kokomo, Indiana Wesleyan University, Ivy Tech Community College, and Purdue University College of Technology.
New Development: The City of Kokomo and the Dora Hotel Company announced the construction of a hotel and conference center in downtown. The Hilton Garden Inn will be six-stories with 123 room. The hotel will be connected to a new 22,000 square foot conference center. The conference center will also be the new home to the Kokomo Automotive Museum. The museum will take up the basement space of the conference center.
PARCEL NUMBER 34-10-18-353-011.000-015
COMBINED RENT $139,755
Rally's Tenant Profile | 06
Trade Name Rally's
Headquartered Tampa, FL
Website https://rallys.com/
# of Locations 870+
Description
As one of the country’s most recognized brands, Checkers & Rally's is an industry leaderwith over 30 years of experience and more than 870 restaurants. Our guests' love forour bold flavored and seared burgers, indulgent milkshakes, and Famous Seasoned Friesis driving us to expand in new cities and develop in existing markets across the country.We continue to accelerate with unprecedented growth. Our multi-unit franchiseesachieve their financial and growth goals faster with us because of our low InitialInvestment, strong return on investment, nimble modular building construction, andcompetitive franchise growth incentives. Because we put our franchisees first, you canenjoy a business made to last.
Rally's Property Images | 07
Rally
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Demographics RA
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Demographic Charts
Rally's Demographics | 09
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 7,063 31,154 63,620
2010 Population 7,477 31,675 61,829
2017 Population 7,661 32,145 62,966
2022 Population 7,704 32,327 63,753
2017 African American 617 2,556 5,848
2017 American Indian 34 123 259
2017 Asian 147 654 929
2017 Hispanic 348 1,259 2,505
2017 White 6,482 27,342 52,868
2017 Other Race 89 344 786
2017 Multiracial 291 1,115 2,264
2017-2022: Population: Growth Rate 0.55 % 0.55 % 1.25 %
2017 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 450 1,843 3,634
$15,000-$24,999 389 1,535 3,207
$25,000-$34,999 338 1,503 3,161
$35,000-$49,999 489 2,082 3,959
$50,000-$74,999 742 2,844 5,043
$75,000-$99,999 394 1,820 3,318
$100,000-$149,999 239 1,448 2,766
$150,000-$199,999 121 559 929
$200,000 or greater 48 372 585
Median HH Income $47,551 $50,224 $46,777
Average HH Income $58,577 $64,957 $61,991
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 3,136 14,542 29,046
2010 Total Households 3,142 13,836 26,148
2017 Total Households 3,209 14,007 26,601
2022 Total Households 3,225 14,088 26,921
2017 Average Household Size 2.38 2.29 2.32
2000 Owner Occupied Housing 1,868 8,920 18,085
2000 Renter Occupied Housing 1,034 4,581 8,619
2017 Owner Occupied Housing 1,928 8,742 17,117
2017 Renter Occupied Housing 1,281 5,264 9,485
2017 Vacant Housing 290 1,561 3,725
2017 Total Housing 3,499 15,568 30,326
2022 Owner Occupied Housing 1,953 8,845 17,307
2022 Renter Occupied Housing 1,273 5,243 9,614
2022 Vacant Housing 279 1,550 3,768
2022 Total Housing 3,504 15,638 30,689
2017-2022: Households: Growth Rate 0.50 % 0.60 % 1.20 %
Source: esri
Rally's Demographic Charts | 10
1 Mile Radius 3 Mile Radius 5 Mile Radius
2017 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2017 Population by Race
Rally's
Steven DavisManaging Member 480-429-4580
License # 101032000
8255 East Raintree Drive Suite 100, Scottsdale, AZ 85260
Exclusively Marketed by:
Sean StephensonSenior Associate 480-429-4580
License # 672380000
Michael HavdalaBroker of Record License # RB14045475 HSA Commercial Real Estate