subject property - southwood · fortis net lease is pleased to present a free-standing arby’s...

FORTISNETLEASEA S p e r r y V a n N e s s F r a n c h i s e

DougPasson Direct:248.254.3407 [email protected] ManagingDirector

SINGLETENANTRETAILINVESTMENT20YearAbsoluteNNNGroundLease

2404ForestHillsRoad,Wilson,NC27893

SUBJECTPROPERTY





DISCLOSURE

AllmaterialsandinformationreceivedorderivedfromSperryVanNess|FortisNetLease(hereinaftercollectively“SperryVanNess”),itsdirectors,of icers,agents,advisors,af iliatesand/oranythirdpartysourcesareprovidedwithoutrepresentationorwarrantybySperryVanNessitsdirectors,of icers,agents,advisors,oraf iliatesastocompleteness,veracity,oraccuracy,conditionoftheproperty,complianceorlackofcompliancewithapplicablegovernmentalre-quirements,suitability, inancialperformanceoftheproperty,projected inancialperformanceofthepropertyforanyparty’sintendeduseoranyandallothermatters.

NeitherSperryVanNessitsdirectors,of icers,agents,advisors,oraf iliatesmakesanyrepresentationorwarranty,expressorimplied,astoaccuracyorcom-pletenessoftheanymaterialsorinformationprovided,derived,orreceived.Materialsandinformationfromanysource,whetherwrittenorverbal,thatmaybefurnishedforreviewarenotasubstituteforaparty’sactiveconductofitsownduediligencetodeterminetheseandothermattersofsigni icancetosuchparty.SperryVanNesswillnotinvestigateorverifyanysuchmattersorconductduediligenceforapartyunlessotherwiseagreedinwriting.

ALLPARTIESSHALLCONDUCTTHEIROWNINDEPENDENTINVESTIGATIONANDDUEDILIGENCE.

Anypartycontemplatingorundercontractorinescrowforatransactionisurgedtoverifyallinformationandtoconducttheirowninspectionsandinvestiga-tionsincludingthroughappropriatethirdpartyindependentprofessionalsselectedbysuchparty.

All inancialdatashouldbeveri iedbythepartyincludingbyobtainingandreadingapplicabledocumentsandreportsandconsultingappropriateindependentprofessionals.SperryVanNessmakesnowarrantiesand/orrepresentationsregardingtheveracity,completeness,orrelevanceofany inancialdataorassump-tions.SperryVanNessdoesnotserveasa inancialadvisortoanypartyregardinganyproposedtransaction.Alldataandassumptionsregarding inancialper-formance, includingthatusedfor inancialmodelingpurposes,maydiffer fromactualdataorperformance.Anyestimatesofmarketrentsand/orprojectedrentsthatmaybeprovidedtoapartydonotnecessarilymeanthatrentscanbeestablishedatorincreasedtothatlevel.Partiesmustevaluateanyapplicablecontractualandgovernmentallimitationsaswellasmarketconditions,vacancyfactorsandotherissuesinordertodeterminerentsfromorfortheproperty.

Legalquestionsshouldbediscussedbythepartywithanattorney.Taxquestionsshouldbediscussedbythepartywithacerti iedpublicaccountantortaxat-torney.Titlequestionsshouldbediscussedbythepartywithatitleof icerorattorney.Questionsregardingtheconditionofthepropertyandwhethertheprop-ertycomplieswithapplicablegovernmentalrequirementsshouldbediscussedbythepartywithappropriateengineers,architects,contractors,otherconsult-antsandgovernmentalagencies.AllpropertiesandservicesaremarketedbySperryVanNessincompliancewithallapplicablefairhousingandequaloppor-tunitylaws.

AllSperryVanNess©Of iceareindependentlyownedandoperated.FortisNetLeaseisownedandoperatedbyFortisCommercial,aMichiganLimitedLiabilityCompany.





INVESTMENTSUMMARYListPrice $1,325,000LandAcreage 0.76YearBuilt 1993 NOI: $96,000CapRate: 7.25%BuildingSize: 2,816SF LEASESUMMARYLeaseType AbsoluteNNNGroundLeaseTaxes/CAM/Insurance TenantResponsibilityRoof/Structure TenantResponsibilityParkingLotReplacement TenantResponsibility OriginalLeaseTerm 20YearsRentCommencement October18,2007 LeaseTermination October18,2027TermRemaining 14YearsOptions Four,Five(5)YearOptions|7%IncreasesRightofFirstRefusal YesLeaseGuarantor ChristopherJ.Doyle;FocusTenofFlorida,Inc. FocusTenofTampaFocusTenofGreensboroSTOREHIGHLIGHTS MajorCommercialCorridorwithOver150FeetofRoadFrontage EstablishedTradeAreaApproximately45MilesEastofRaleigh OutParceltoWalmartSupercenter

INVESTMENTHIGHLIGHTS AbsoluteNNNGroundLeaseRequiresZeroLandlordResponsibilities Four(4),Five(5)YearOptionsPeriodswith7%Increases TenantMustPayAdditionalRentForNetSalesExceeding$850,000LOCATIONHIGHLIGHTS Over53,000Peoplewithina5MileRadius AverageHouseholdIncomeisOver$54,000withina5MileRadius TheSubjectPropertyisLocatedRightoffofForestHillsRoadwithNumer-

ousLocalandNationalRetailTenantsSurroundingtheSite

SubjectProperty





INVESTMENTOVERVIEW

FortisNetLeaseispleasedtopresentafree-standingArby’sAbsoluteNNNLeaseInvestmentlocatedinWilson,NConForestHillsRoad,justSouthofRaleighRoadParkway.Theinitialleasetermrunsthrough2027andtheleaseisequippedwitha7%rentincreasesevery iveyears,aswellinallofthe iveyearoptionperiods.Thisisagreatopportunityforaninvestorlookingtopurchaseapassiveincomeassetwithzeromanagementresponsibilities.Thetenantisresponsibleforallpropertytaxes,CAMexpenses,andinsurance.Thetenantisalsoresponsibleforcapitalexpendituressuchastheroof,structure,HVACandparking.

Thesubjectpropertyhasover53,000peopleresidingwithina5mileradiusandislocatedinaprimeretailcorridorhostingothernationalten-antssuchasMcDonald’s,Wendy’s,Lowe’s,Walmart,Chick- il-A,Sonic,andStaples.

TENANTOVERVIEW

FocusTenofRaleigh,Inc.isasubsidiaryoftheLeaseGuarantor,FocusTenofFlorida, Inc.(amongotherentities). FocusTenisa25UnitFranchiseewithArby’srestaurantslocatedinNorthCarolina,Florida,andVirginia.FocusTenofFlorida,Inc.isbasedinWesleyChapel,Floridaandareprimarilyranbyabrotherandsister.Thecompaniesemployroughly400people.

Arby'srestaurantsspecializeintheroastbeefsandwichsegmentofthequickservice restaurant industry. In addition to various slow-roasted roast beefsandwiches, Arby's offers a menu of chicken, turkey and ham sandwiches,snackitemsandsalads.Arby'salsooffersMarketFreshwrapsandwichesin-sideatortillawrap. SubjectProperty





PHOTOGRAPHS





Wilson,NorthCarolina

Wilsonattractsleadingmanufacturersanditsindustrialbaseismadeupofpharma-ceuticals,aerospace,automotiveandmore.Thereareover130manufacturersinWil-sonCounty.Wilsonisknownforits irstclassSoccer&Baseballfacilities.The"].BurtGillerreAthleticComplex"hashostedtheUSYouthSoccerSouthernRegionalChampi-onshipgames,TheannualBoysandGirls"TheBrittanySoccerShowcase"andalsotheNCLittleLeagueDivision6BaseballTournamentandNCLittleLeagueStateTourna-ment.WilsonishometoBartonCollegeafullyaccredited,fouryear,private,co-educational,liberalartscollege.WilsonCommunityCollegeprovidesavarietyofedu-cationalprograms,collegetransferprograms,hasanewcerti iedLEEDGoldGreenBuildingandisavailablefortours.

Wilsonisknownforitsmuseumsandattractions:theNorthCarolinaBaseballMuse-um,ImaginationStationScienceMuseum,NCMuseumoftheCoastalPlainandtheNesrusFreemanRoundhouseMuseum.EnjoytheWilsonTobsCollegiateTeamplayatHistoricFlemingStadium.TheWilsonBotanicalGarden&WilsonRoseGardenareopendailysunrisetosunset.Wilsonhas1500hotelrooms.Southernhospitalityandhometowncharmareatraditionhere.

LOCATION OVERVIEW





1Mile 3Miles 5Miles

TotalPopulation 4,862 34,478 54,347

TotalNumberofHousehold 1,978 13,444 21,681

PopulationWhite 3,032 17,201 26,054

PopulationBlack 1,475 14,035 22,990

PopulationHispanic 232 2,682 4,622

PopulationAsian 53 279 418

PopulationAmericanIndian 2 49 106

PopulationOther 183 2,128 3,652

PersonsPerHousehold 2.5 2.6 2.5

AverageHouseholdIncome $63,948 $56,043 $53,175

AverageHouseValue $208,641 $182,015 $162,756

AverageAge 40.8 37.3 37.2

AverageAgeMale 36.7 34.2 34.9

AverageAgeFemale 42 38.5 38.1

PopulationPaci icIslander 0 9 12

DEMOGRAPHICS





Over325TransactionsClosedinthePast24Months

FORMOREINFORMATIONCONTACT:

DOUGPASSON

ManagingDirector

Direct:248.254.3407

[email protected]

SVN|FortisNetLease

www.FortisNetLease.com

subject property - southwood · fortis net lease is pleased to present a free-standing arby’s...

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