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krispy kreme doughnuts
fee simple assetin Roanoke MSA1625 Hershberger Rd NW, Roanoke, VA 24012
[ www.CapitalPacific.com ]
Click for Map
Contact: joe [email protected] | (415) 274-7394CA BRE# 01191110
ReNtAble SF . . . . . . . . . . . . . . . 2,886 SF
lANd AReA . . . . . . . . . . . . . . . 0.61 Acres
YeAR bUIlt . . . . . . . . . . . . . . . 2014
CURReNt ReNt . . . . . . . . . . . . $164,130
leASe exPIRAtIoN . . . . . . . . . 11/30/2034
PRICE: $3,282,600CAP: 5.00%
Listing TeamContact Info
joe [email protected] | (415) 274-7394CA BRE# 01191110
In Conjunction with VA Licensed Broker:Read Goode, Divaris Real Estate, [email protected] | (804) 335-0554
PROperty Summary
Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.
TRoPhy FEE SImPlE, AbSoluTE NNN KRISPy KREmE oN PRImARy CommERCIAl CoRRIdoR IN RoANoKE, VA. NEARly 19 yEARS lEFT oN PRImARy TERm. CoRPoRATE lEASE - NySE TRAdEd ComPANy
KRISPy KREmE | 2
PRoPeRtY HIgHlIgHtSBuilt and opened in November, 2014, Krispy Kreme is located on Hershberger Road, the strongest retail thoroughfare in Roanoke, with traffic counts exceeding 37,000 cars per day. Krispy Kreme features dual access curb cuts, a heavily illuminated pylon
sign and its legendary “Hot Now” drive-thru window.
loCAtIoN HIgHlIgHtSThe site is positioned in front of a Lowe’s Home Improvement, next to Kmart and around
the corner from Sam’s Club, marshall’s, Bed Bath & Beyond, Ross Dress for Less, Kirkland’s, Officemax and Kroger. The site is also a few hundred yards north of the “ground zero”
retail intersection of Hershberger Road and I-581, home of the Valley View mall (macy’s, Sear’s, JCPenney, Belk, Old Navy), as well The Home Depot, Walmart Supercenter, Dick’s Sporting Goods, HH Gregg, Sportsman’s Warehouse, and numerous other national
retailers, restaurants hotels, and service providers. This intersection is arguably the most well known in Roanoke.
Known as “The Star City,” Roanoke is the largest municipality in southwest Virginia. There are nearly 130,000 people within 5 miles of Krispy Kreme, with an average household income at
nearly $53,000. Roanoke is the home of Norfolk Southern Railway Corporation, a renowned hospital system, and is also corporate headquarters for Advance Auto, which is located 0.4
miles from the subject property (see aerial on page 4).
teNANt HIgHlIgHtSKrispy Kreme was founded in 1937 and is publicly traded on the New york Stock Exchange (NySE: KKD). The company has a market cap exceeding $880 million.
leASe HIgHlIgHtSThe corporate lease is absolute NNN = zero landlord responsibilities. The lease features 10% rental escalations every five years through the 20-year primary term and each of four (4) five-year options.
131,000+ Residents within a 5-mile radiusNational Tenant
core characteristics
KRISPy KREmE | 3
loCAted oN HeRSHbeRgeR Rd, beNeFIttINg FRom tRAFFIC CoUNtS IN exCeSS oF 37,000 VPdzoomed-in aerial
Pete
rs C
reek
Roa
d
Valley View boulevard NW
Aviation drive NW
Williamson Road
Hers
hber
ger
Road
NW
Hers
hber
ger
Road
NW
581
581
101
117
117101
11
11
ROANOKE COUNTRY CLUB
James breckinridge
middle School
Round Hill elementary
North Side High School
William Fleming High School
William Ruffner middle School
Preston Park elementary
Roanoke Academy for math
and Science
VAlleY VIeW CRoSSINg
VAlleY VIeW mAll
toWNe SQUARe SHoPPINg CeNteR
37,000 DAILY
Advance Auto Corporate HQ
KRISPy KREmE | 4
SUBjECT pROpERTY IS pOSITIONED NEAR
ThE hIgh-TRAffIC RETAIL INTERSECTION
Of hERShBERgER ROAD & I-581
photos
KRISPy KREmE | 5
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
income & expense
PRICE $3,282,600 Capitalization Rate: 5.00%
Total Rentable Area (SF): 2,886
STABILIZED INCOMEScheduled Rent $164,130
Effective Gross Income $164,130
LESSTaxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses NNN $0.00
EQUALS NET OPERATING INCOME $164,130
KRISPy KREmE | 6
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the informa-tion and bears all risk for any inaccuracies.
rent roll
TENANT INFO LEASE TERMS RENT SUMMARY
Tenant Name Sq. Ft. Term yearlyRent
monthly Rent
Krispy Kreme 2,886 11/2014 10/2019 $164,130 $13,677
11/2019 10/2024 $180,543 $15,045
11/2024 10/2029 $198,597 $16,550
11/2029 10/2034 $218,457 $18,205
Option 1 11/2034 10/2039 $240,303 $20,025
Option 2 11/2039 10/2044 $264,333 $22,028
Option 3 11/2044 10/2049 $290,766 $24,231
Option 4 11/2049 10/2054 $319,843 $26,654
Totals: 2,886 $164,130 $13,678
KRISPy KREmE | 7
SIte PlAN KeY
PARCEL OuTLINE:
LAND AREA: 0.61 AC
BuILDING AREA: 2,886 SF
INGRESS/EGRESS:
37,000 dAIlY
site plan
Hershberger Road NW
lIgHted PYloN SIgN
NOT A pART
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. KRISPy KREmE | 8
AboUt KRISPY KRemeKrispy Kreme Doughnuts, Inc. is an American global doughnut company and coffeehouse chain based in Winston-Salem, North Carolina. Kripsy Kreme Doughnuts are sold in Krispy Kreme stores, grocery stores, convenience stores, and other big box retailers. Krispy Kreme started its store expansion in the 1950s and today has over 1,000 locations and more than 4,300 employees. On April 5, 2000, the corporation went public on NASDAQ.
WWW.KRISPYKReme.Com
[ SIGNALIZED INTERSECTION ]
tenant overview
1,000 TOTAL NumBER OF LOCATIONS
BOTH NATIONAL AND ABROAD
2015 gRoSS PRoFIt $90 million
2015 Net ReVeNUe$490 million
KRISPy KREmE | 9
regional map
ROANOKE
WASHINGTON DC
RICHmOND3 HR
164 mILES
DOWNTOWN ROANOKE
3 HR 53 mIN234 mILES
KRISPy KREmE | 10
RoANoKe, VA oVeRVIeWRoanoke is the largest municipality in southwest Virginia, and is the principal municipality of the Roanoke metropolitan Statistical Area (mSA), which had a 2010 population of 308,707. Bisected by the Roanoke River, Roanoke is the commercial and cultural hub of much of southwest Virginia.
Roanoke’s economy developed around the Norfolk and Western Railroad with a strong emphasis on manufacturing. Roanoke was formerly the headquarters of Norfolk and Western Railway until its merger with the Southern Railway created the Norfolk Southern Railway in 1982. Norfolk Southern continues to operate its marketing headquarters and some maintenance facilities in Roanoke. Wachovia Bank acquired Roanoke based Dominion Bank in 1993 and maintains an operations and customer service center in Roanoke.
The city is also the health care and retail hub of a large area, driving the expansion of Carilion Health System and Valley View mall. Advance Auto Parts is headquartered in Roanoke and has expanded through the acquisition of other chains to become one of the largest auto parts retailers in the country.
2015 hOUSEhOLD INCOmES
1-Mile 3-Mile 5-Mile
2010 5,922 59,506 128,9822015 6,102 60,110 131,4412020 6,300 61,293 134,759
1-Mile 3-Mile 5-Mile
Average $42,904 $46,866 $52,992
pOpULATION
Employer # of Employees*Roanoke County Schools 2,328Wells Fargo Operations Center 1,200County of Roanoke 1,000Kroger 800*Approximate
TOp EmpLOYERS IN ROANOKE COUNTY
location & Demographics
KRISPy KREmE | 11
A unique HUMANRESULTS-DRIVEN client experience
tHe CAPItAl PACIFIC exPeRIeNCe - oUR dAIlY CommItmeNt to oUR ClIeNtS
[ www.CapitalPacific.com ]
Joe [email protected] | (415) 274-7394CA BRE# 01191110
[ Copyright © 2016 Capital Pacific ]
Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.
dAVe lUCAS
RICK SANNeR
gRegg Steele
KARlA ZeNS
JoHN ANdReINI
ZANdY SmItH
In conjunction with VA Licensed Broker: Read Goode, Divaris Real Estate, Inc. | [email protected] | (804) 335-0554
CHRIS KoStANeCKI [email protected] | (415) 274-2701 CA BRE# 01002010
Zeb RIPPle [email protected] | (415) 274-2702 CA BRE# 01242540
CHRIS [email protected] | (415) 274-2703 CA BRE# 01339983
JACK NAVARRA