EXCLUSIVE LISTING Offering Memorandum - Dairy Queen Grill & Chill | Freeport, FL - LoopNet.com
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Dairy QueenLISTING
EXCLUSIVE Grill & Chill | Freeport, FL
Offering Memorandum
Dairy Queen Grill & Chill | Freeport, FL
Representative Photo
DOUG ARONSON
MANAGING DIRECTOR
(954) 514-9477
daronson@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
1
Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
Investment Highlights
Financial Summary Brand new construction
•• •• Full service Grill & Chill with
•• Publix grocery store outparcel drive-thru
16380 US Hwy 331 S | Freeport, FL 32439 •• Located on Florida’s Emerald •• Guarantor: franchisee/personal
Coast •• Award winning DQ operator
Asking Price $2,191,305 | Cap Rate 5.75% •• 15-year absolute NNN lease •• Florida has no state income tax
•• Rare 1.5% annual rent increases
Net Operating Income (NOI) $126,000
Rent/Month $10,500
Rentable Square Feet 2,983+/- SF
Land Area 0.66+/- Acres
Rent Schedule
Tenant Name Dairy Queen Term Increases Annual Rent Monthly Rent
Year 1 - $126,000 $10,500
Guarantor Franchisee/Personal
Year 2 1.5% $127,890 $10,657
Ownership Type Fee Simple Year 3 1.5% $129,808 $10,817
Year 4 1.5% $131,755 $10,979
Lease Type Absolute NNN
Year 5 1.5% $133,731 $11,144
Landlord Responsibilities None Year 6 1.5% $135,737 $11,311
Year 7 1.5% $137,773 $11,481
Store Open 2017
Year 8 1.5% $139,839 $11,653
Lease Term Remaining 15 Years Year 9 1.5% $141,937 $11,828
Rent Commencement December 20, 2017 Year 10 1.5% $144,066 $12,005
Year 11 1.5% $146,227 $12,185
Lease Expiration December 31, 2032 Year 12 1.5% $148,420 $12,368
Increases 1.5% Annually Year 13 1.5% $150,647 $12,553
Year 14 1.5% $152,906 $12,742
Options Two (2), Five (5) Year
Year 15 1.5% $155,200 $12,933
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Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
A Story of Sweet Success
Tenant Overview For more than 70 years, the DQ® system’s recipe for success has been simple.
It’s been a combination of hardworking people who own and operate restaurants,
and great-tasting food and tempting treats served in our establishments.
About Dairy Queen Their phenomenal story began with the 10-cent sale of a then unnamed product
Dairy Queen, often abbreviated DQ, is a chain of soft on August 4, 1938, in Kankakee, Illinois. A father and son partnership in Green
serve ice cream and fast food restaurants owned River, Illinois, had been experimenting with a soft frozen dairy product for some
by International Dairy Queen, Inc, a subsidiary of time. They contacted Sherb Noble, a good friend and customer, who agreed to run
Berkshire Hathaway. the “all you can eat” trial sale at his walk-in ice cream store. Within two hours, he
Franchise Times estimates DQ sales worldwide at more than $3 billion, ranking it dished out more than 1,600 servings of the new dessert.
the 32nd largest franchise chain of the Top 200 Franchise Chains list. Today, the DQ® system is one of the largest fast food systems in the world, with
more than 6,000 restaurants in the United States, Canada and 18 other countries.
History
Although much has changed in the world and in the DQ® system through the years,
The founders of the Dairy Queen® system were men and women who introduced
one constant has remained: DQ® restaurants are still, and always have been, the
a new kind of dessert treat and, in the process, developed the foundation of the
place to find kids’ sports teams celebrating a victory, business people on their
franchising industry. The history of the DQ® system is a story of a unique product
lunch break and families taking time out to enjoy great food and soft serve treats.
that created an industry.
And success for the DQ® system is as simple today as it was in 1940. Satisfied
customers lead to successful restaurants. Each owner of their independently
owned and operated establishments worldwide is committed to nothing less than
the “Fan Food not Fast FoodTM”slogan.
3
Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
Location Overview
Distance To:
Fort Walton Beach 37 miles
Atlanta, GA
Pensacola 92 miles
Tallahassee 133 miles
Atlanta, GA 292 miles
75
85
Subject Site
65
75
10
Pensacola Tallahassee
Fort Walton Freeport
Beach
4
Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
16380 US Hwy 331 S | Freeport, FL 32439
Freeport
Middle School
FREEPORT
331
EM
ain
Str
eet
14,
700
VPD
PD
00 V
11,5
Subject Site
31 S
US 3
Freeport Regional
Sports Complex
5
Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
16380 US Hwy 331 S | Freeport, FL 32439
Freeport Pet
Clinic
EM
ain
Str
eet
14,
700
VPD
PD
00 V
11,5
Brica Inc
31 S
US 3
Coming Soon
Subject Site
6
Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
Site Plan
D
00 VP
S 11,5
1
US 33
7
Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
Proposed Design
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Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
Demographics
Radius 3 Miles 7 Miles 10 Miles
Population
2017 Population 3,989 8,120 13,819
2022 Population 4,766 9,497 16,340
2010-2017 Annual Rate 4.85% 3.07% 3.48%
2017-2022 Annual Rate 3.62% 3.18% 3.41%
2017 Male Population 50.2% 50.7% 50.7%
2017 Female Population 49.8% 49.3% 49.3%
2017 Median Age 41.2 41.7 41.4
Households
2017 Total Households 1,617 3,238 5,576
2022 Total Households 1,926 3,774 6,571
2010-2017 Annual Rate 4.83% 2.96% 3.38%
2017-2022 Annual Rate 3.56% 3.11% 3.34%
2017 Average Household Size 2.47 2.51 2.48
Median Household Income
2017 Median Household Income $50,533 $48,066 $48,036
2022 Median Household Income $57,463 $54,191 $54,677
2017-2022 Annual Rate 2.60% 2.43% 2.62%
Average Household Income
2017 Average Household Income $65,910 $62,921 $64,096
2022 Average Household Income $77,221 $73,713 $74,827
2017-2022 Annual Rate 3.22% 3.22% 3.14%
Per Capita Income
2017 Per Capita Income $26,490 $25,435 $26,198
2022 Per Capita Income $30,913 $29,676 $30,459
2017-2022 Annual Rate 3.14% 3.13% 3.06%
9
Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
Market Overview
Freeport, FL
Freeport is a city in Walton County, Florida and began about 1830 when settlers
were attracted to the natural harbor of LaGrange Bayou located near the eastern
end of Choctawhatchee Bay and the mouth of the Choctawhatchee River. In
Freeport Florida, a good number of residents work on Eglin Air Force Base, as
military personnel, contractors or civil service, but the lions share work south of
the Bay in South Walton County.
Freeport Florida is literally the crossroads between North and South Walton
County. It is advantageously situated and within driving proximity to Tallahassee,
Pensacola, Montgomery, Ft. Walton Beach, and Panama City. It is within an hour
of the Okaloosa County Regional Airport, the Bay County Regional Airport the
Destin Municipal Airport and the DeFuniak Springs Municipal Airport. It is a
half-hours drive from the South Walton Beaches and golf courses. Freeport Homes
Just south of Freeport are some of the most spectacular and beautiful beaches
in the world. With sugar white sand, clear emerald green waters, towering sand
dunes and more, here you can walk for miles, swim, paddleboard, fish, and more,
while taking in the most gorgeous scenery around. Enjoy the beach communities,
eclectic shopping, or simply relax while listening to the waves break at your feet.
Grayton Beach State Park Windswept Dunes Golf Course
10Dairy Queen Grill & Chill | Freeport, FL
Offering Memorandum
About Calkain
Who Are We?
Calkain Companies LLC is a national commercial real estate firm that provides With the growth in staff, seasoned professionals have been attracted to Calkain’s
consulting and brokerage services to both private and institutional clientele model of innovation, entrepreneurship and the fostering of long-lasting and
with an expertise on triple net lease investments. We pride ourselves on being meaningful relationships. Industry experts have joined Calkain in the hopes of
a world class leader by providing our clients a full array of commercial real estate implementing the skills they have honed in complementary aspects of real estate
investment brokerage and asset management solutions, including advisory, investment.
research, estate planning and wealth management. Through a tremendous endeavor, tireless hours have been committed to
We have built solid relationships throughout our decades of experience and continually prove that Calkain is America’s Net Lease Company®. Its countless
innovation, implementing long-term allocation within the context of each client’s accolades received from the world’s leading business publications, including
particular risk tolerance and identifying how best to acquire and dispose of income Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a
producing properties for each entities’ specific set of investment criterion. At true leader in triple net lease investing services.
Calkain, our foresight and past performance are leading the net lease investment
industry.
Client Testimonial
Our History
Like most success stories, Calkain was formulated from humble beginnings.
“USRA has worked with Calkain on numerous occasions. They have always been
meticulous in their work ethic, providing superior service and extremely prompt
Jonathan W. Hipp, President and CEO, took the initiative to build upon his
attention to our needs. I highly recommend them.
decades of experience and performance and left a large international brokerage
firm to become an independent and innovative leader within the triple net lease - Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)
investment community. Armed with a sole employee and a single office, the firm
has grown exponentially since its infancy in 2005.
$11.5 Billion $350 Million
in Closed Transactions in Active Listings
DOUG ARONSON
MANAGING DIRECTOR
(954) 514-9477
daronson@calkain.com CCAALLKKAAIIN
N.C
.CO
OMM
11Contact Us Corporate Headquarters Washington, DC 12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783 Fort Lauderdale 200 SW 1st Avenue | Suite 880 Fort Lauderdale, FL 33301 T: (813) 282-6000 Atlanta 111 Village Parkway, Building 2 | Suite 202 Marietta, GA 30067 T: (404) 900-5629 Boston 101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584 CALKAIN.COM DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula- tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
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