Long John Silver's Offering Memorandum - 3550 Isleta Boulevard SW | Albuquerque, NM 87105 - Stan Johnson Company
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Representative Photo Offering Memorandum Long John Silver’s 3550 Isleta Boulevard SW | Albuquerque, NM 87105
Confidential Disclaimer
This Confidential Memorandum has been prepared by Stan Johnson Company (“SJC”) and is being furnished
to you solely for the purpose of your review of the commercial property located at 3550 Isleta Boulevard, SW,
Albuquerque, NM 87105 (the “Property”). The material contained in this Offering Memorandum shall be used for
the purposes of evaluating the Property for acquisition and shall not be used for any purpose or made available
to any other person without the express written consent of Stan Johnson Company (“Broker”). Offered Exclusively by
By accepting the Confidential Memorandum, you acknowledge and agree that: (1) all of the information contained
herein and any other information you will be receiving in connection with this transaction, whether oral, written
or in any other form (collectively, the “Materials”), is confidential; (2) you will not reproduce the Confidential Amar Goli
Memorandum in whole or in part; (3) if you do not wish to pursue this matter, you will return this Confidential Associate Director
Memorandum to SJC as soon as practicable together with all other materials relating to the Property which you agoli@stanjohnsonco.com
may have received from SJC; and (4) any proposed actions by you which are inconsistent in any manner with the
P: +1 213.417.9378
foregoing agreements will require the prior written consent of SJC.
This Confidential Memorandum has been prepared by SJC, based upon certain information pertaining to the Sam Alison
Property and any information obtained from SJC to assist interested parties in making their own evaluation of Regional Director - West
the Property is offered on a no representation or warranty provision other than customary warranties of title salison@stanjohnsonco.com
and is sold on an “as-is, where-is” basis and with all faults. The material and transaction does not purport to be P: +1 213.417.9375
all inclusive. This Confidential Memorandum contains descriptive materials, financial information and other data
compiled for the convenience of parties interested in the Property. The Materials are being delivered by SJC to
prospective investors with the understanding that it is not all inclusive and that it is qualified in its entirety by Mike Philbin
independent investigation by prospective investors of those matters which they deem appropriate in evaluating Associate Director
this offering without reliance upon SJC, the Broker or any of their respective affiliates or any of the information mphilbin@stanjohnsonco.com
set out in the Materials. Neither SJC, the Broker, nor any of their respective affiliates have independently verified P: +1 213.417.9379
any of the information contained herein or in any of the Materials, and no representations or warranties as to
the accuracy or completeness thereof or of any other kind whatsoever are made or intended and none should
be inferred.
SJC, for itself and its affiliates of the Property, expressly disclaim any and all liability for statements or In Association With
representations, express or implied, contained herein or for omissions from the Materials or for any other written, Britton Burdette
oral or other format of communication transmitted to a prospective investor in the course of its evaluation of the
NM Lic #19068
proposed transaction. All summaries and discussions of documentation and/or financial information contained
herein are qualified in their entirety by reference to the actual documents and/or financial statements, which upon
request may be made available. The terms and conditions described herein are subject to change without notice.
This Confidential Memorandum does not constitute an offer to accept any investment proposal but is merely a
solicitation of interest with respect to the investment described herein. The Confidential Memorandum does not Stan Johnson Company
constitute an offer of security. The investment described herein may be financed or withdrawn from the market, 801 South Figueroa Street | Suite 1130
without prior notice. By accepting this Confidential Memorandum you agree to release SJC and hold it harmless Los Angeles, CA 90017
from any kind of claim, expense, or liability arising out of your discovery or purchase of the Property. SJC reserves P: +1 213.417.9380
the right to request the return of the Materials at any time. Ownership of the Property reserves the right to
negotiate with one or more prospective investors at any time. stanjohnsonco.com
Table of Contents Section 1 - Executive Summary The Offering........................................................................................................................................................4 Section 2 - Property Overview Lease Abstract & Rent Schedule...........................................................................................................6 Tenant Overview..............................................................................................................................................7 Location Overview..........................................................................................................................................8 Area Maps............................................................................................................................................................9 Area Retail & Business Map.....................................................................................................................10 Demographics...................................................................................................................................................11
Section One Executive Summary
The Offering
Stan Johnson Company is offering to qualified investors the opportunity to
purchase a 100% fee-simple interest in the Long John Silver’s property located
at 3550 Isleta Blvd, in Albuquerque, New Mexico (the “Property”). The location
is on Isleta Blvd, just off of Rio Bravo Blvd, which is a major artery through
Albuquerque connecting the residents of SW Albuquerque to I-25 and the
Albuquerque International Airport. It is the major road that people use to cross
the Rio Grande River in order to get to the major interstate.
Representative Photo
This site is ideal for a quick serve restaurant such as Long John Silver’s, as it is on
a major retail corridor with other fast food concepts such as McDonald’s, Pizza
Hut, and Taco Bell. Nearby tenants include Walgreens, Advance Auto Parts,
Purchase Price: $1,070,000
and Albertsons. The surrounding community is stable with the retail submarket
having an occupancy rate exceeding 95% and residential neighborhoods are
Cap Rate: 7.44%
primarily single-family homes.
Property Summary
The building is less than 2 years old, having been rebuilt after a major fire in Address: 3550 Isleta Boulevard SW | Albuquerque, NM 87105
2014. The property is an excellent site for quick serve operations because it Building Size (SF): +/- 2,464 SF
is a newer facility with drive-thru on a major retail corridor in the south valley. Land Area (Acres): +/- 0.69 Acres
Tenant has no remaining options after 2024, which provides an opportunity for
Ownership Interest: Absolute NNN
a significant rental increase at end of the existing term.
Encumbrances: None, Delivered Free & Clear
NOI: $79,660
Investment Highlights
Experienced Operator - American Seafood Partners is an affiliate of M2R LLC, Excellent Residual Value – Property is well located along a retail corridor,
which operates 21 Long John Silver’s, A&W, and KFCs in New Mexico and Kansas. with a drive-thru. Drive-thrus are becoming increasingly difficult to obtain in
Albuquerque
Absolute Net Lease - Zero Landlord Responsibilities
Commitment to Location - In 2014, Tenant extended lease for a 10-
Stable Occupancy with Upside Potential - Tenant at Location for 21 year term; lease end date is 12/31/2024, with no remaining options
years. Approximately 9 years remaining. No Options.
Highly Accessible Location - The Property is located just off Rio Bravo
Rental Increase - Monthly rent increases to $7,472 in 2020, a 4.2% increase
Boulevard, the main roadway across the Rio Grande River and the main access
Brand New Building - Rebuilt and delivered to Tenant in March 2015 point to I-25 for residents of SW Albuquerque.
Long John Silver’s • Albuquerque, NM 4
Section Two Lease Abstract, Tenant & Location Overview
Lease Abstract
Tenant Long John Silver’s
Guarantor M2R LLC
Lease Type Absolute NNN
Property Address 3550 Isleta Boulevard, SW | Albuquerque, NM 87105
NOI $79,660
Building SF 2,464 Square Feet
Acreage 0.69 Acres
Lease
December 12, 1994
Commencement
Lease Expiration December 31, 2024
Term Remaining 8 years, 10 months
Options None Remaining
Rent Increases See Rent Schedule Below
Rent Schedule
Lease Term Years Rent (Annually)
N
Years 21 - 25 1/1/15 - 12/31/19 $79,660
Years 26 - 30 1/1/20 - 12/31/24 $83,016
Long John Silver’s • Albuquerque, NM 6Representative Photo
Tenant Overview
Long John Silver’s, Inc., is a U.S.-based fast-food restaurant that specializes in or batter fried onion rings. Seafood items include fish, clams, and shrimp, with
seafood. The name of the brand is borrowed from the novel Treasure Island by chicken fingers known as “Chicken Planks.” More recently, the brand began
Robert Louis Stevenson, in which the pirate Long John Silver is one of the main offering baked cod as a lower-calorie option. The restaurants also sell dessert
characters. Formerly a division of Yum! Brands, Inc., the company was divested offerings as separate items.
to a group of franchisees in 2011 and has seen a steady increase in sales, market
share, and net worth. The brand has been refreshing their market presence LONG JOHN SILVER’S
starting with new store openings in Fall 2013 through Winter 2014/2015 and
a complete makeover of all franchise stores through 2016. Long John Silver’s Parent Company: LJS Partners LLC
franchises more than 1,200 nautically themed eateries, reporting more than Company: Long John Silver’s LLC
$810 Million in estimated annual sales for Fiscal year-end 2012.
Founded: 1969
Long John Silver’s food offerings include platters, sandwiches, and various
single items. The platters feature seafood as the main item, with side dishes
Headquarters: Louisville, KY
Long John Silver’s • Albuquerque, NM 7
consisting of coleslaw, hushpuppies, corn, green beans, and French fries (chips) Website: www.ljsilvers.comLocation Overview
Albuquerque is the economic and geographic Offers the lowest effective tax rate for Top Area Employers
center of New Mexico. With an estimated manufacturers in the Western United
population of 561,379, Albuquerque is States.
EMPLOYER EMPLOYEES
New Mexico’s largest city. The community
Consistently ranked as one of Forbes’ Best Albuquerque Public Schools 14,810
is home to a large mix of industrial and
commercial companies such as General Mills, Cities for Business, Albuquerque’s exceptional Kirtland Air Force Base 10,125
Tempur-Pedic, and Sennheiser as well as a operating environment has helped attract Sandia National Labs 9,852
host of financial, insurance, and healthcare businesses like Lowe’s Customer Support Presbyterian 7,310
operations. According to 2015 estimates, the Center, Bendix/King, Fidelity Investments, UNM Hospital 6,021
Albuquerque metropolitan statistical area Fraunhofer, Intel, and Emcore to name a
City of Albuquerque 5,500
(MSA) population totals 907,679. Between few. Area residents and employers benefit
State of New Mexico 4,950
2000 and 2010 (Census) the metro population from the presence of large public institutions
such as the University of New Mexico, University of New Mexico 4,210
increased 21.6 percent from 729,649 to
Sandia National Laboratories, and the area’s Lovelace 4,000
887,077.
largest employer, Kirtland Air Force Base. Bernalillo County 2,425
The Albuquerque metro area accounts for Intel Corporation 2,300
Ranked 9th Mid-Sized American City of the
nearly half of all the economic activity in New Rio Rancho Public Schools 2,000
Future by fDi (Foreign Direct Investment)
Mexico. Fueled by a population of more than Sandia Resort & Casino 2,000
magazine, Albuquerque:
900,000, the area’s high-tech economy is one
PNM Electric Services 1,935
of the brightest in the United States.
Has a pipeline of talent including 70,000 Central New Mexico Comm. College 1,840
college students as part of a workforce T-Mobile 1,529
that is younger and better educated than Verizon Wireless 1,500
the national average
Blue Cross Blue Shield of New Mexico 1,400
Is a low risk location for natural disasters Isleta Hotel & Casino 1,200
U.S. Forest Service 1,200
Has a low cost of doing business Heritage Home Healthcare 1,169
Has an exceptional support network for Los Lunas Public Schools 1,040
entrepreneurs, and Route 66 Casino Hotel 1,000
Albuquerque, NM
Long John Silver’s • Albuquerque, NM 8N
N
Long John Silver’s • Albuquerque, NM 9Valle Del Sol
Shopping
Center
Rio Bravo Boulevard SW (20,021 VPD)
IVER
RIO GRANDE R
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VPD
W Ina Rd (37,527 VPD)
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22,
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El Camino
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Real Academy
Adobe Acres
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oul
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Long John Silver’s • Albuquerque, NM 10Demographics
3550 Isleta Blvd SW | Albuquerque, NM 87105 0 - 1 mi. 0 - 3 mi. 0 - 5 mi.
Population
2015 Population 6,057 50,489 153,904
2020 Population 6,164 51,051 156,805
2010-2015 Annual Rate 0.30% 0.11% 0.34%
2015-2020 Annual Rate 0.35% 0.22% 0.37%
Households
2015 Total Households 2,003 16,090 53,046
2020 Total Households 2,043 16,281 54,136
2010-2015 Annual Rate 0.46% 0.21% 0.46%
2015-2020 Annual Rate 0.40% 0.24% 0.41%
1 mile
3 miles
2015 Average Household Income $49,091 $46,482 $46,083 5 miles
2015 Median Household Income $37,191 $35,606 $34,295
Long John Silver’s • Albuquerque, NM 11Offered Exclusively by
Amar Goli
Associate Director
agoli@stanjohnsonco.com
+1 213.417.9378
going beyond
Sam Alison
Regional Director - West
salison@stanjohnsonco.com
+1 213.417.9375
Mike Philbin
Associate Director
mphilbin@stanjohnsonco.com
+1 213.417.9379
In Association With
Britton Burdette
NM Lic #19068
Stan Johnson Company
801 S. Figueroa Street | Suite 1130
Los Angeles, CA 90017
P: +1 213.417.9380 | F: +1 213.417.9381
stanjohnsonco.com
The information contained herein was obtained from sources believed reliable, however,
Stan Johnson Company makes no guaranties, warranties or representations as to the
completeness thereof. The presentation of this property for sale, rent or exchange is
submitted subject to errors, omissions, change of price or conditions, or withdrawal
without notices.You can also read
