BURGER KING PORTFOLIO - Cleveland Metro Statistical Area BROOK PARK, OHIO - ELYRIA, OHI0 - LoopNet
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BURGER KING PORTFOLIO Cleveland BROOK PARK, OHIO Metro Statistical Area of RPS Capital Management LLC ELYRIA, OHI0
BURGER KING PORTFOLIO | BROOK PARK, OHIO & ELYRIA, OHIO
BROOK PARK, OHIO ELYRIA, OHIO
RPS CAPITAL MANAGEMENT LLC IS PLEASED TO PRESENT THE
B U R G E R K I N G P O R T F O L I O I N C L E V E L A N D M S A (TWO UNITS)
AVAILABLE AS PORTFOLIO OR INDIVIDUALLY
Significant Upside Potential | Increased Return | Rent sets to 7% of Sales in First Option
More Than Three Years Remaining on Absolute Net Leases | Zero Landlord Responsibilities
Strong Guarantor | TOMS King, Limited Liability Company (LLC) | Operates 120 Units
Hedge Against Inflation | 1.5 Percent Annual Rent Increases
Operator Demonstrates Commitment | Upgrading Both Locations to Newest Store Format
Strong Demographics | Both Assets Have More Than 100,000 Residents Within Five Miles
Brook Park | Ideally Located Nearby Giant Eagle Supermarket and a Planet Fitness Anchored Shopping Center
Brook Park | Nearby Cleveland Hopkins International Airport (CLE) | 9.6 Million Passengers in 2018
Elyria | Located in Heavily Trafficked Area | More Than 43,000 Vehicles Per Day | Cleveland Street and John F Kennedy
Memorial Parkway
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
BURGER KING PORTFOLIO | BROOK PARK, OHIO & ELYRIA, OHIO
PORTFOLIO OVERVIEW
OLIO PRI RATE IO N OI
TF OL
C AP
CE
P O RTF
P OR
$1,640,000 5.08% $83,230
Brook Park Offering Elyria Offering
PRICE $970,000 PRICE $670,000
CAP RATE 5.08% CAP RATE 5.08%
NOI $49,228 NOI $34,003
PRICE PER SQUARE FOOT $482.35 PRICE PER SQUARE FOOT $198.28
RENT PER SQUARE FOOT $24.48 RENT PER SQUARE FOOT $10.06
YEAR BUILT 1987 YEAR BUILT 1987
APPROXIMATE LOT SIZE 1.72 Acres APPROXIMATE LOT SIZE 1.08 Acres
GROSS LEASEABLE AREA 2,011 GROSS LEASEABLE AREA 3,379
TYPE OF OWNERSHIP Fee Simple TYPE OF OWNERSHIP Fee Simple
TOMS King, Limited TOMS King, Limited
LEASE GUARANTOR LEASE GUARANTOR
Liability Company (LLC) Liability Company (LLC)
LEASE TYPE Absolute Net LEASE TYPE Absolute Net
ROOF AND STRUCTURE Tenant Responsible ROOF AND STRUCTURE Tenant Responsible
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
BURGER KING PORTFOLIO | BROOK PARK, OHIO & ELYRIA, OHIO
LEASE SUMMARY
BROOK PARK OFFERING ELYRIA OFFERING
14601 Snow Road Brook Park, Ohio 441442 827 Cleveland Street Elyria, Ohio 44035
LEASE COMMENCEMENT DATE 3/1/2009 LEASE COMMENCEMENT DATE 3/1/2009
LEASE EXPIRATION DATE 1/31/2023 LEASE EXPIRATION DATE 1/31/2023
LEASE TERM 14 Years LEASE TERM 14 Years
TERM REMAINING 3+ Years TERM REMAINING 3+ Years
INCREASES 1.5 Percent Annually INCREASES 1.5 Percent Annually
OPTIONS TO RENEW 4, 5-Year OPTIONS TO RENEW 4, 5-Year
BROOK PARK ANNUALIZED OPERATING DATA ELYRIA ANNUALIZED OPERATING DATA
BASE RENT ANNUAL RENT MONTHLY RENT BASE RENT ANNUAL RENT MONTHLY RENT
CURRENT 2/28/2020 $49,228 $4,102 CURRENT 2/28/2020 $34,003 $2,834
3/1/2020 2/28/2021 $49,966 $4,164 3/1/2020 2/28/2021 $34,513 $2,876
3/1/2021 2/28/2022 $49,967 $4,164 3/1/2021 2/28/2022 $35,030 $2,919
3/1/2022 2/28/2023 $50,716 $4,226 3/1/2022 2/28/2023 $35,556 $2,963
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
BURGER KING PORTFOLIO | BROOK PARK, OHIO & ELYRIA, OHIO
TENANT OVERVIEW
TOMS King owns and operates over 100 BURGER KING® restaurants across
Illinois, Ohio, North Carolina, Pennsylvania and Virginia, with more than 3,000
team members and have grown to become one of the Top 10 largest BURGER
KING® franchisees.
TOMS King is well regarded in the industry and has many of the highest
performing units in the Burger King® system. They pride themselves on
providing exceptional service to all their customers to be your number one
choice for fast food your way.
TENANT PROFILE
TENANT TRADE NAME Burger King
OWNERSHIP Private
TENANT TOMS King, Limited Liability Company (LLC)
LEASE GUARANTOR TOMS King, Limited Liability Company (LLC)
NUMBER OF LOCATIONS 120 Locations
HEADQUARTERED Palatine, Illinois
WEB SITE www.tomsking.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
BU RG E R K I N G - B R O O K PA R K , O H I O
Property Address
1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile
2018 Average HH
2000 Population 7,343 38,430 80,449 2000 Households 3,042 13,442 31,710 $64,762 $74,553 $72,407
Income
2018 Median HH
2010 Population 8,509 45,400 92,930 2010 Households 3,730 16,337 36,692 $44,409 $48,401 $48,887
Income
2018 Per Capita
2018 Population 9,684 50,933 104,465 2018 Households 4,230 18,622 41,519 $28,288 $27,258 $28,778
Income
BU RG E R K I N G - E LY R I A , O H I O 80
Midway
Market Square
Midway Mall
UH Elyria Medical Center: Midway
387 Bed Hospital Crossing
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HWY 20 (3
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Property Address
827 Cleveland St, Elyria,
OH 44035, USA
20 80
1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile
2018 Average HH
2000 Population 7,343 38,430 80,449 2000 Households 3,042 13,442 31,710 $64,762 $74,553 $72,407
Income
2018 Median HH
2010 Population 8,509 45,400 92,930 2010 Households 3,730 16,337 36,692 $44,409 $48,401 $48,887
Income
2018 Per Capita
2018 Population 9,684 50,933 104,465 2018 Households 4,230 18,622 41,519 $28,288 $27,258 $28,778
Income
BURGER KING PORTFOLIO | BROOK PARK, OHIO & ELYRIA, OHIO
ABOUT CLEVELAND
Cleveland’s location on the Cuyahoga River and Lake Erie has been key to its growth. The
Ohio and Erie Canal coupled with rail links helped the city become an important business
center. Steel and many other manufactured goods emerged as leading industries.
The city diversified its economy in addition to its manufacturing sector. In 2007, Cleveland’s
commercial real estate market experienced rebound with a record pace of purchases,
with a housing vacancy of 10%.
The Cleveland Clinic is the city’s largest private employer with a workforce of over 37,000
as of 2008. It carries the distinction as being among America’s best hospitals with top
ratings published in U.S. News & World Report. Cleveland’s healthcare sector also includes
University Hospitals of Cleveland, a renowned center for cancer treatment, MetroHealth
medical center, and the insurance company Medical Mutual of Ohio. Cleveland is also
noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve
University, the Cleveland Clinic, and University Hospitals of Cleveland. The city is among
the top recipients of investment for biotech start-ups and research. Case Western
Reserve, the Clinic, and University Hospitals have recently announced plans to build a
large biotechnology research center and incubator on the site of the former Mount Sinai
Hospital, creating a research campus to stimulate biotech startup companies that can be
spun off from research conducted in the city.
City leaders promoted growth of the technology sector in the first decade of the 21st
century. Mayor Jane L. Campbell appointed a “tech czar” to recruit technology companies
to the downtown office market, offering connections to the high-speed fiber networks
that run underneath downtown streets in several “high-tech offices” focused on the Euclid
Avenue area.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
R P S C APIT AL M A NAG EM ENT LLC HE RE BY A DV I S E S A L L P ROS P E CTI V E P URC H ASE R S O F N E T L E ASE D PR O PE R T Y A S FOLLOWS: T he in f or ma t ion c o ntained in the following Ma rke tin g B ro c h u re is p ro p rie ta r y a n d stric tly c o n fid e n tia l . It i s i n t e n d e d t o b e r e v i e w e d o n l y b y t h e p ar t y r e c eivin g it f rom RP S Capital Management LLC a n d sh o u ld n o t b e m a d e a v a ila b le to a n y o th e r p e rso n o r e n t i t y w i t h o u t t h e w r i t t e n co n s e n t o f RP S C ap i t al M a n age me n t LLC. This Mark eting Brochure has b e e n p re p a re d to p ro v id e su mma r y, u n v e rifie d in fo r ma ti o n t o p r o s p e ct i v e p u r ch as e r s , an d t o e s t ab l i s h o n l y a pr e limin ar y le ve l of interest in the subject pro p e rty. T h e in fo r ma tio n c o n ta in e d h e re in is n o t a su b stit u t e f o r a t h o r o u g h d u e d i l i g e n ce i n v e s t i g at i o n . RP S C a p it al M an age me nt LLC has not made any inv e stig a tio n , a n d ma ke s n o w a r ra n ty o r re p re se n ta tio n , w it h r e s p e ct t o t h e i n co m e o r e x p e n s e s f o r t h e s u b j e ct pr ope rt y, t h e f u t u re projected financial perfor ma n c e o f th e p ro p e rty, th e siz e a n d sq u a re fo o ta g e o f th e p r o p e r t y an d i m p r o v e m e n t s , t h e p r e s e n ce o r ab s e n ce of c on t a min a t in g substances, P CB’s or asbesto s, th e c o m p lia n c e w ith Sta te a n d Fe d e ra l re g u la tio n s, t h e p h y s i cal co n d i t i o n o f t h e i m p r o v e m e n t s t h e r e o n , or th e f in a n c ial condition or business prospec ts o f a n y te n a n t, o r a n y te n a n t’s p la n s o r in te n tio n s to c o n t i n u e i t s o ccu p an cy o f t h e s u b j e ct p r o p e r t y. Th e i n for ma t ion con t a ined in this Mark eting Brochu re h a s b e e n o b ta in e d fro m so u rc e s w e b e lie v e to b e rel i ab l e ; h o w e v e r, RP S C ap i t al M an ag e m e n t L L C h as n o t v e rif ie d, an d will not verify, any of the infor ma tio n c o n ta in e d h e re in , n o r h a s R PS C a p ita l Ma n a g e m e n t L L C co n d u ct e d an y i n v e s t i g at i o n r e g ar d i n g t h e s e m a tt e r s a n d make s no war ranty or representatio n w h a tso e v e r re g a rd in g th e a c c u ra c y o r c o mp le te n e ss o f t h e i n f o r m at i o n p r o v i d e d . Al l p o t e n t i al b u y e r s m u s t t a k e a ppr opr iat e measures to verify all of the info r m a tio n se t fo rth h e re in . N ON-ENDO R SEM EN T NOTI CE R P S Capit al M an agement LLC is not affiliated w ith , sp o n so re d b y, o r e n d o rse d b y a n y c o m m e rc ia l te n a n t o r l e s s e e i d e n t i f i e d i n t h i s m ar k e t i n g p ack ag e. Th e pr e se n ce of a n y corporation’s logo or name is n o t in te n d e d to in d ic a te o r im p ly a ffilia tio n w ith , o r sp o n s o r s h i p o r e n d o r s e m e n t b y, s ai d co r p o r at i o n o f RP S C a p it al M an age me nt LLC, its affiliates or subsi d ia rie s, o r a n y a g e n t, p ro d u c t, se r v ic e, o r c o m m e rc ia l lis t i n g o f RP S C ap i t al M an ag e m e n t L L C , an d i s s o l e l y i n c l ude d f or t h e purpose of providing tenant le sse e in fo r m a tio n a b o u t th is listin g to p ro sp e c tiv e c u sto m e r s . A L L PR O PERTY SHOWI NGS ARE BY AP P OI NTM E N T O N LY. PL E A SE C O N SU LT YO U R R PS C A PI TA L MA N AG E M E N T L L C AG E N T F OR M ORE D E TAIL S.
E X C L U S I V E LY L I S T E D B Y :
MARK POMELLA
LICENSED REAL ESTATE SALESPERSON
mpomella@sabgroup.com
t. 646.809.8840
LICENSE #: 10401305401 (NY)
IN CONJUNCTION WITH:
BROKER OF RECORD
Richard Geisenfeld
Capital Commercial Partners
LICENSE #: BRKP.200900245 (OH)
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