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Free Standing denny’sr e s ta u r a n t o n ± 1 . 3 A c r e s o f l a n d
$ 5 , 8 0 0 , 0 0 0 A B S O L U T E N E T
2077 N 1st Street, San Jose, CA
F o r S a l e
Exclusive Agent:JOHN B. MACHADO EXECUTIVE VICE PRESIDENTDIRECT: +1 408 282 3862 CELL: + 1 408 234 2606 [email protected] License No. 00876747
COLLIERS INTERNATIONAL Silicon Valley
450 West Santa Clara Street San Jose, CA 95113
www.colliers.com
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 2
2077 N. first stS a n J o s e , C A l i f o r n i a
bay area maps
SUBJECT SUBJECT
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 3
2077 N. first stS a n J o s e , C A l i f o r n i a
GUADALUPE FWY
Storage SUITE 302
COLLIERS INTERNATIONAL • 450 WEST SANTA CLARA STREET • SAN JOSE, CA 95113 • (408) 282-3800
T
.segnahc dna snoissimo ,srorre ot tcejbus dettimbus si dna elbailer meed ew secruos morf deniatbo neeb sah dehsinruf noitamrofni ehAlthough Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient
prior to lease, purchase, exchange, or execution of legal documents. © 2008 Colliers International * Drawings Not Exact/Not To Scale
880237
880680280
58080380
9807805
237
8587
92
4
1
2484
17
9
101
INITIAL
= Lockbox
ConferenceRoom
BAYSHORE FWY
Storage SUITE 302
COLLIERS INTERNATIONAL • 450 WEST SANTA CLARA STREET • SAN JOSE, CA 95113 • (408) 282-3800
T
.segnahc dna snoissimo ,srorre ot tcejbus dettimbus si dna elbailer meed ew secruos morf deniatbo neeb sah dehsinruf noitamrofni ehAlthough Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient
prior to lease, purchase, exchange, or execution of legal documents. © 2008 Colliers International * Drawings Not Exact/Not To Scale
880 237
880680280
58080380
9807805
237
8587
92
4
1
2484
17
9
101
INITIAL
= Lockbox
Conference
Room
BROK
AW R
OAD N FIRST STREET
SUBJECTNEW
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 4
2077 N. first stS a n J o s e , C A l i f o r n i a
property information
Address2077 N. First Street, San Jose CA
Intersection Signalized Intersection: N. First Street at Brokaw Road
AccessCurb cut’s on N. First Street and Brokaw Road
Property dimensionsIrregation shape parcelApprox 130’ frontage on N. First StreetApprox 20’ frontage on Brokaw Road (See parcel map)
APN # 101-06-001Parcel size ± 1.3 acres + ±56,628 square feet
Current improvementsThe site is improvments with an approximate 5,000 SF single story free standing restaurant building that was constructed in approximately 1977 for Denny’s Restaurant Group.
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 5
2077 N. first stS a n J o s e , C A l i f o r n i a
Neighboring area
demographic highlights3 Mile 5 Mile
Population 188,160 637,492Average Income $133,572 $120,611
Traffic Counts• N. First Street 54,000 + ADT• Brokaw Road 29,700 + ADT
Neighboring area • The Subject Property is located at N. First Street and Brokaw Road in San Jose, CA
• The Subject Property benefits from excellent access via Highway 101, N. First Street and Guadalupe Expressway
• Brand new Hyatt Park Hotel is uder construction adjacent to the north of the property
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 6
2077 N. first stS a n J o s e , C A l i f o r n i a
BRAND PROFILE
DENNY’S CORPORATIONDenny’s Corporation through it’s subsidiary Denny’s Inc., owns and operates full-service restaurant chains under the Denny’s brand. As of December 27, 2017, it has 1,735 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Hounders, the Phillip pines, COsta Rica, Dominican Republic, the United Aram Emirates, Guam, Curacao, El Salvador, Guatemala, and the United Kingdom. The company formerly known as Advanitca Restaurant Group, Inc. and changed it’s name to Denny’s Corporation in 2002. The Company was founded in 1953 and is based in Spartanburg, South Carolina.
Company Type Public (NASDAQ: DENN)
2017 Employees 8,900
2017 Revenue $529.17 Million
2017 Net Income $39.59 Million
2017 Assets $323.78 Million
Ranking Russell 2000 (June 2017)
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 7
2077 N. first stS a n J o s e , C A l i f o r n i a
offering
the subject property is offered for sale at $5,800,000
Lease status SUMMARY Parass Restaurant Group Inc. dba Denny’s, signed a 10 year extension to their Lease Agreement that extends their term to January 31, 2029.
Base Rent Monthly2-1-2019 to 1-31-2024 $17,500.002-1-2024 to 1-31-2029 $18,500.00
In addition to Base Rent, Tenant pays all operating expenses that include but are not limited to:1) Real Property Taxes2) Insurance3) Building & Site Maintenance
Note: In addition to the corporate signature of Parass Restaurant Group Inc. there is a personal guarantee from Sunita Singh and Mohinder Singh (Franchisee).
Note: The Lease provides Lessor with a Right to Terminate the Lease prior to January 31, 2029 in the event of a redevelopment of the property.
Pricing Current Annual Income: $210,000.00Annual Income as of February 1, 2024: $222,000.00Average Annual Income over 10-year Lease Term: $216,000.00
CAP Rate 1) Current Income 3.6%2) Income 2-1-2024 3.8%
Note: The opportunity here is the redevelopment of the property in the future. A potential buyer could entitle this property for a higher and better use and then exercise its right to early termination. This option provides cash flow during the entitlement process.
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 8
2077 N. first stS a n J o s e , C A l i f o r n i a
parcel map
SUBJECT
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 9
2077 N. first stS a n J o s e , C A l i f o r n i a
Retail competition map
Mineta/San Jose International
Airport
Light
Rail
Brokaw Road
Airport Parkway
Metro Drive
Skyport Drive
Matrix Boulevard
North
Firs
t Stre
et
Pho VietNYPD Pizza & Dogs
Wong KokVito’s Trattoria
Ladda Thai Cuisine
Light Rail Stop / FreeAirport Shuttle / FreeCaltrain Shuttle
Light Rail Stop
2077 N. first stS a n J o s e , C A l i f o r n i a
NEW
The information furnished has been obtained from sources we deem reliable and is submitted subject to errors, omissions and changes. Although Colliers International has no reason to doubt its accuracy, we do not guarantee it. All information should be verified by the recipient prior to lease, purchase, exchange, or execution of legal documents. ©2019 Colliers International N. First Street 2077 190110 10
2077 N. first stS a n J o s e , C A l i f o r n i a
Major Business map
®
Apple
2077 N. first stS a n J o s e , C A l i f o r n i a
Colliers International – Silicon Valley • 450 West Santa Clara Street San Jose, CA 95113 • www.colliers.com
JOHN B. MACHADO EXECUTIVE VICE PRESIDENTDIRECT: +1 408 282 3862 CELL: + 1 408 234 2606 [email protected] License No. 00876747
2077 N. first st.S a n J o s e , C A l i f o r n i a
At B r o k aw R d