e photo 1701 - LoopNet€¦ · RANDY HOGAN Hogan Property Group, LLC OK License No. 085429 Area Overview Altus is a city and the county seat in Jackson County, Oklahoma and home to

LocationInvestment Highlights

Taco Bell representative photo

> 20-year absolute NNN lease commenced 9/2015

> Exceptional store sales less than 8% rent-to-sales

> Taco Bell’s second largest franchisee K-MAC Enterprises guaranteed lease

> Tenant operates ±300 restaurants in 9 states

> Annual rental increases of 1%

> Frontage on heavily-traveled N. Main Street

> Less than a mile south of Western Oklahoma State College with an enrollment of ±3,820 students & Southwest Technology Center

> Home to the Altus U.S. Air Force training base

> Numerous hospitality properties in the immediate area

JOHN McLELLAN+1 415 418 [email protected] License No. 01869489

TOM SCHMIDT, CCIM+1 650 486 [email protected] License No. 01351547

RANDY HOGANHogan Property Group, LLCOK License No. 085429

1701 N. MAIN STREETA l t u s , O k l a h o m a

TACO BELL NNN LEASE Investment Opportunity

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COLLIERS INTERNATIONALSan Francisco Peninsula

203 Redwood Shores ParkwaySuite 125

Redwood City, CA 94065+1 650 486 2200

colliers.com/sanfranciscopeninsula

JOHN McLELLAN+1 415 418 9880

[email protected] License No. 01869489

TOM SCHMIDT, CCIM+1 650 486 2226



RANDY HOGANHogan Property Group, LLC

OK License No. 085429

Financial Overview

LOCATION ADDRESS

PRICE

CAPITALIZATION (CAP) RATE

NET OPERATING INCOME

RENTABLE SQUARE FOOTAGE (SF)

LOT SIZE - ACREAGE (AC)

LOT SIZE - SF

1701 N. Main Street | Altus, OK 73521

$2,779,612.00

5.1%

$141,760.24

±3,000 SF

±1.31 AC

±57,064 SF

TYPE OF OWNERSHIP Fee Simple

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Redwood City, CA 94065+1 650 486 2200









Lease Summary

LEASE TYPE

ROOF & STRUCTURE

LEASE TERM

RENT COMMENCEMENT

LEASE EXPIRATION

TERM REMAINING

RENTAL INCREASES

Absolute Triple Net (NNN)

Tenant

20 Years

September 25, 2015

March 31, 2035

Approximately 15 Years

1% Annually

OPTIONS Four 5-Year Terms

RIGHT OF FIRST REFUSAL Yes

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Redwood City, CA 94065+1 650 486 2200









Rent Schedule

TERM ANNUAL RENT MONTHLY RENTYear 1

Year 2

Year 3

Year 4

Year 5

Year 6Year 7

Year 8

Year 9

Year 10

Year 11

Year 12

Year 13

Year 14

Year 15

Year 16

Year 17

Year 18

Year 19

Year 20

$134,880.00

$136,228.80

$137,591.09

$138,967.00

$140,456.67

$141,760.24$143,177.84

$144,609.62

$146,055.71

$147,516.27

$148,991.43

$150,481.35

$151,986.16

$153,506.02

$155,041.08

$156,591.49

$158,157.41

$159,738.98

$161,336.37

$162,949.74

$11,240.00

$11,352.40

$11,465.92

$11,580.58

$11,696.39

$11,813.35$11,931.49

$12,050.80

$12,171.31

$12,293.02

$12,415.95

$12,540.11

$12,665.51

$12,792.17

$12,920.09

$13,049.29

$13,179.78

$13,311.58

$13,444.70

$13,579.14

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Redwood City, CA 94065+1 650 486 2200









Investment Details > Great, sought-after concept: Taco Bell

> 20-year absolute NNN lease commenced September 25, 2015

> Superior tenant: K-MAC Enterprises guaranteed lease

> K-MAC Enterprises is the second largest Taco Bell franchisee

> Tenant operates ±300 restaurants in nine states

> Exceptional store sales less than 8% rent-to-sales

> Annual rental increases of 1%

> Frontage on N. Main Street, a heavily-traveled north-south corridor

Immediate Area > Retailers: Walmart Supercenter, Hobby Lobby, Atwood’s Ranch & Home, Dollar Tree, Dollar General, Hibbett Sports, Ace Hardware, AutoZone Auto Parts, Walgreens, Save A Lot, Family Dollar, Sherwin-Williams Paint Store, Goodwill and Maurices

> Other fast food/casual dining concepts: Whataburger, Pizza Hut, Arby’s, Long John Silver’s, Sonic Drive-In, Subway, Little Caesars, Wei’s Garden, Taco Mayo, Chicken Express, Braum’s Ice Cream & Burger, Jersey Mike’s, Un Poquito de Todo, Benny’s Mexican Food & Pizza, Val’s It’s About Time, Fat Daddy’s Grill, Billy Sims Barbecue, The Plaza, Fred’s Steakhouse & Saloon, Western Sizzlin’, Applebee’s Grill + Bar, KFC and McDonald’s

> Numerous hospitality properties: Days Inn, Microtel Inn & Suites, Holiday Inn Express & Suites, Regency Inn Hotel & Suites, Hampton Inn & Suites, America’s Best Value Inn, Knights Inn, Red River Inn, Friendship Inn Motel, Economy Inn, Budget Inn and Horizon Sands RV Park

> Located less than 1 mile south of Western Oklahoma State College with an enrollment of ±3,820 students and Southwest Technology Center

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Redwood City, CA 94065+1 650 486 2200









Demographics

POPULATION

HOUSEHOLD

TRAFFIC COUNTS

±2,506

1 MILE 3 MILES 5 MILESTotal Population ±6,050 ±19,154 ±19,724

Households ±7,387 ±7,605

N. Main Street & W. Commerce Street ±15,000 Annual Average Daily Traffic (AADT)

$56,340Average Household Income $56,676 $57,413

Subject Property1701 N Main St - Taco Bell

DEMOGRAPHICS

10 Min. Drive10 Miles5 MilesPopulation 1 Mile 3 Miles

Population 19,14922,41319,7246,050 19,154

5 Yr Growth -1.6%-2.3%-2.3%-7.5% -2.3%

Median Age 34343336 33

5 Yr Forecast 35363537 35

White / Black / Hispanic 81% / 10% / 27%83% / 9% / 25%82% / 10% / 26%87% / 6% / 31% 81% / 10% / 27%

5 Yr Forecast 80% / 10% / 28%82% / 9% / 26%81% / 10% / 27%86% / 5% / 33% 81% / 10% / 28%

Employment 8,12314,83114,5032,682 14,365

Buying Power $328.8M$392.2M$329.5M$99.0M $314.8M

5 Yr Growth -0.8%-1.7%-2.2%-5.9% -2.3%

College Graduates 21.7%16.4%15.6%15.2% 15.3%

Household

Households 7,4008,6667,6052,506 7,387

5 Yr Growth -1.7%-2.4%-2.4%-6.8% -2.4%

Median Household Income $44,427$45,257$43,327$39,512 $42,622

5 Yr Forecast $44,798$45,578$43,433$39,892 $42,675

Average Household Income $58,054$59,092$57,413$56,340 $56,676

5 Yr Forecast $58,836$59,777$57,927$57,393 $57,135

% High Income (>$75k) 27%27%26%26% 25%

Housing

Median Home Value $108,376$101,015$95,171$90,685 $92,735

Median Year Built 1965196819681962 1968

Owner / Renter Occupied 55% / 45%55% / 45%51% / 49%59% / 41% 50% / 50%

2/14/2020Copyrighted report licensed to Colliers International - 978909.

Page 5


Employment ±2,682 ±14,365 ±14,503

Source: CoStar Realty Information, Inc.

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Redwood City, CA 94065+1 650 486 2200









Area Overview

Altus is a city and the county seat in Jackson County, Oklahoma and home to the Altus Air Force Base, the United States Air Force training base for C-17, KC-46 and KC-135 aircrews. It is also home to Western Oklahoma State College and Southwest Technology Center.

Located at the intersection of U.S. Highways 62 and 283, Altus has continued to grow as an economic and medical hub of southwest Oklahoma. Since 1942, the Altus Air Force Base has been the city’s economic cornerstone. Other major employers include Jackson County Memorial Hospital and Bar-S Foods Company.

Public education is provided through nine schools with 482 employees and ±4,198 students. The Southwest technology Center has an enrollment of ±5,772 students in day and evening classes. Higher education is available at Western Oklahoma State College with an enrollment of ±3,820 students. Altus offers an advantageous labor pool for fast food restaurant workers.

Altus is a Main Street community and was chosen as an All American City in 1955 with the slogan “A City with a Future to Share”. The main retail corridor of Altus is on Main Street where the Taco Bell at 1701 N. Main Street property is located.

Sources: altusok.gov, en.wikipedia.org

Documents

e photo 1701 - LoopNet€¦ · RANDY HOGAN Hogan Property Group, LLC OK License No. 085429 Area Overview Altus is a city and the county seat in Jackson County, Oklahoma and home to