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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:$1,656,800 Cap Rate:8.45% Building Size:5,700 Sq. Ft. Land Size:1.56 ac Seats:201 Opening Date:May 2012 NOI:$140,000 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 (best location in Ft Dodge) is operated by a franchisee with more than 22 years of experience with Perkins, both as an operator and a Senior Area Director, with responsibility for stores. Currently operating four profitable units and about to open this 5 th store in May 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 2010 Total Population25, Mean HH Income$42,555 Traffic Count (Hwy 20 Bus)13,600 Great location near Crossroads Mall and several big box centers with Target, Walmart, JC Penny & Sears (1/2 mile) Next to Country Inn Suites, Menards & Comfort Inn (1/4 mile) Other near-by national retailers include Office Max, Kohls, Dunhams, Culvers, Payless, etc. 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: FORT DODGE MEMORIAL PARK CEMETERY

4 AREA INFORMATION Ft. Dodge, founded 1869; is the county seat of Webster County Major businesses are National Gypsum, Georgia Pacific, Celotex and US Gypsum Home of Iowa Central Community College (5,500 students) Trinity Medical Center (200 bed cardiovascular w/1,000 staff) Ft Dodge Correctional Facil (1,250 bed med/security) Major industries include gypsum & limestone mining and the manufacturing of drywall, veterinary pharmaceuticals & vaccines 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 Breakfast, lunch & dinner FORT DODGE MEMORIAL PARK CEMETERY


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