CARL'S JR. RESTAURANT - 1010 Milt Phillips Ave. Seminole, Oklahoma 74868 - LoopNet
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CARL’S JR. RESTAURANT
1010 Milt Phillips Ave.
Seminole, Oklahoma 74868
DAVE DELATORRE
T 619 247 8585 F 858 459 3066
dave@singlenetproperties.com
EXECUTIVE SUMMARY
Carl’s Jr. NNN Investment
PROPERTY
Carl’s Jr. & Green Burrito Restaurant
LOCATION
1010 Milt Phillips Avenue, Seminole, Oklahoma 74868
SALES PRICE
$1,370,000
CAPITALIZATION RATE
6.25%
RENT Current - 7/24/21 - 7/24/26 - 7/24/31 -
7/23/21 7/23/26 7/23/31 7/23/36
ANNUAL RENT $77,911 $85,703 $94,273 $103,700
RENTAL GUARANTEE
Seller will pay the difference in monthly rent of $650 from the
close of escrow until the rental increase date of July 23, 2021
BUILDING SIZE
Approximately 3,382 square feet with a drive thru lane originally constructed in 1992.
LAND PARCEL SIZE
Approximately 37,768 square feet of land.
PRIMARY LEASE TERM
Existing twenty (20) year primary lease term that commenced on July 24, 2016
with four additional five (5) year options at same terms and conditions.
RENTAL INCREASES
Fixed ten (10%) percent increases every five (5) years with the next adjustment
scheduled for July 23, 2021.
LEASE GUARANTOR
The lease is also personally guaranteed by Aslam Khan who
is the owner of OK Restaurants LLC. for the entire lease term.
DAVE DELATORRE
T 619 247 8585 2
dave@singlenetproperties.com
EXECUTIVE SUMMARY
Carl’s Jr. NNN Investment
TENANT INFORMATION
OK Restaurant Holdings LLC is a new Oklahoma Limited Liability company
established by Aslam Kahn which acquired 37 existing Carl’s Jr. restaurants
from Star Chaser’s Inc. Prior to OK Restaurant Holdings LLC acquisition the
restaurants they were operated by Star Chaser’s since 2008 and Carl’s Jr.
Corporate previously. The Oklahoma company is a very seasoned company with
many of the restaurants have a 25+ year history of successful operations.
Aslam Kahn has 30+ years management experience in the Quick Service
Restaurant industry and owns a number of different restaurant companies which
own and operate over 250 restaurants in numerous states. Falcon Holdings LLC
owns & operates 42 Long John Silver’s restaurants in Texas. Midwest Hospitality
LLC Mr. Kahn owns & operates 151 Church’s Chicken restaurants in 12 states.
Mr. Kahn also owns & operates 28 Hardee’s restaurants in the Indianapolis
Indiana market prior to his acquisition of the 37 Oklahoma restaurants. In 2015
he was recognized as Restaurant Franchisee of the year by International
Restaurant Franchisee Association. Please visit their company website at: www.
falconholdings.com for additional information on the company.
Mr. Kahn also acquired the existing local Oklahoma management team that
was has been running the Oklahoma restaurants since early 2000 along with his
existing corporate infrastructure which provides for a seamless transition to new
ownership.
Mr. Kahn is a personal guarantor to the lease in addition to having OK
Restaurant Holdings LLC as the tenant. Please contact broker for additional
organizational and financial information on the tenant & guarantor.
3
EXECUTIVE SUMMARY
Carl’s Jr. NNN Investment
COMMENTS
The Seminole Carl’s Junior restaurant is a
seasoned location with over 25+ years of
successful operations at this location. The
Seminole large land parcel is approximately
37,768 square feet and is strategically located
on Milt Phillips Avenue which is the main
commercial artery through Seminole. There is
also a very large 3,382 square foot restaurant
building with a drive thru facility. The Seminole
restaurant is co-branded with Green Burrito
which is Carl Jr.’s Mexican food concept. The
Carl’s Jr. location serves the downtown Seminole
market and is situated in a cluster of restaurants
and retail centers. Seminole is at the center
of Oklahoma’s oil and gas reserves and there
are a number of oil and gas related companies
headquartered throughout Seminole County.
Seminole is also home to Sportsman’s Lake which
offers excellent recreational opportunities for
campers, hunters, and fisherman.
DAVE DELATORRE
T 619 247 8585 4
dave@singlenetproperties.com
S U B J E C T P R O P E R T Y P H OTO S
Carl’s Jr. NNN Investment
DAVE DELATORRE
T 619 247 8585 5
dave@singlenetproperties.com
MAPS & AERIALS
Carl’s Jr. NNN Investment
DAVE DELATORRE
T 619 247 8585 6
dave@singlenetproperties.com
MAPS & AERIALS
Carl’s Jr. NNN Investment
DAVE DELATORRE
T 619 247 8585 7
dave@singlenetproperties.com
TRADE AREA
Carl’s Jr. NNN Investment
Walmart Super Store Seminole Shopping Center Ace Hardware
McDonald’s Restaurant O’Reilly Auto Parts Best Western Inn
DAVE DELATORRE
T 619 247 8585 8
dave@singlenetproperties.com
TRADE AREA
Carl’s Jr. NNN Investment
Taco Bell KFC Restaurant Braum’s Restaurant
Taco Mayo Restaurant Sonic Restaurant LJS and A&W Restaurant
DAVE DELATORRE
T 619 247 8585 9
dave@singlenetproperties.com
TRADE AREA
Carl’s Jr. NNN Investment
AutoZone Family Dollar TFCU
Murphy Oil & Gas Sinclair Oil Seminole Ford
DAVE DELATORRE
T 619 247 8585 10
dave@singlenetproperties.comCITY OF SEMINOLE
Carl’s Jr. NNN Investment
The town of Seminole was established in 1906, named after the Now those days are gone, but not forgotton. The boomers left a
Seminole Indian Tribe who inhabited this region after signing the legacy here that will never die. By the giving to organizations and
government treaty in the mid 1800’s. It was incorporated as a city museums, the past is preserved for future generations to enjoy.
on December 26, 1924. In the mid-1920’s when oil was discovered
in the Seminole area, the population exploded and swelled to As of the census[1] of 2000, there were 6,899 people, 2,760
40,000 people. Black Gold flowed from wells 24 hours a day, households, and 1,827 families residing in the city. The population
seven days a week. Hotels and businesses sprung up everywhere. density was 494.7 people per square mile (190.9/km²). There
were 3,172 housing units at an average density of 227.4 per square
mile (87.8/km²). The racial makeup of the city was 73.42% White,
3.97% African American, 16.38% Native American, 0.32% Asian,
0.04% Pacific Islander, 0.72% from other races, and 5.15% from
two or more races. Hispanic or Latino of any race were 2.61% of
the population.
The median income for a household in the city was $25,120, and
the median income for a family was $29,091. Males had a median
income of $26,765 versus $17,474 for females. The per capita
income for the city was $12,946. About 16.3% of families and 19.9%
of the population were below the poverty line, including 28.2% of
those under age 18 and 8.9% of those age 65 or over.
DAVE DELATORRE
T 619 247 8585 11
dave@singlenetproperties.comDAVE DELATORRE
T 619 247 8585 F 828 459 3066
dave@singlenetproperties.com
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