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No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions,

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Presentation on theme: "No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions,"— Presentation transcript:

1 No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals 1010 Northern Blvd, Ste 208 Great Neck, NY PH: FX: former Lone Star Steakhouse INVESTMENT SUMMARY Sale Price:$1,854,545 Cap Rate:8.25% Building Size:5,500 Sq. Ft. Land Size:1.26 ac Seats:201 Opening Date:TBT (2013) NOI:$153,000 Lease Term:20 years + 4 five year options to renew Lease Type:Absolute NNN Increases:1% increases annually Options:4 x 5 years with same increases TENANT INFORMATION This new Perkins Restaurant is operated by a franchisee with more than 23 years of experience with Perkins, both as an operator and a Senior Area Director, with responsibility for stores. Currently operating five profitable units and planning to open this 6 th store in 2013 Offering a personal guarantee.

2 No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals 1010 Northern Blvd, Ste 208 Great Neck, NY PH: FX: Demographics (Ankeny, IA) Mile Population66,457 Avg HH Income$77,207 Traffic Count21,000 vpd Great location on major commercial thoroughfare just west of I-35 (exit 90) next to Super Walmart and Olive Garden Other near-by national retailers include Kohls, Super Target, Home Depot, Menard’s, Sportsman’s Warehouse, TJ Maxx & the Delaware Shopping Center (150K) New location of 260,000 sf Mills Fleet & Farm - suppliers for home, garden, hunting & farm LOCATION INFORMATION

3 No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals 1010 Northern Blvd, Ste 208 Great Neck, NY PH: FX: parkwaygrp.com Ankeny Fire Department

4 AREA INFORMATION Ankeny, in Polk County, IA is a fast growing up-scale suburb, seven miles from the capital, Des Moines Population increased 68% from 27,117 (2000) to 45,582 (2010) and is expected to reach 55,000 by 2020 Average Household income is over $77K with only 2.8% below the poverty level Major private employers are John Deere’s Des Moines Works, Hy-Vee Distribution Center, Sysco Foods, Tone’s Spices, Praxair and Mrs. Clark’s Food Public employers include the Ankeny School District and the Des Moines Community College 1010 Northern Blvd, Ste 208 Great Neck, NY PH: FX: No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals PERKINS FAMILY RESTAURANT & BAKERY Founded in 1958 in Ohio as a single pancake house Now located in 34 states and 5 provinces Operating 480 units; 319 franchised and 161 corporate 25,000 employees Serving high quality, value-priced food Open for breakfast, lunch & dinner


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