P R E S E N T E D B Y
Greg Babaian
Vice President Investments
New Jersey Office
Tel: (201) 742-6123
Fax: (201) 742-6110
License: NJ 0016093
Market Positioning and Pricing Analysis
JERSEY JOHNNY’S HOUSE OF DOGS 25 Newark Pompton Tpke • Pequannock, NJ 07440
JERSEY JOHNNY’S HOUSE OF DOGS
Pequannock, NJ
ACT ID Y0281057
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
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this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation
with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any
agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of
providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE
CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we
make no representations or warranties, express or implied, as to the accuracy of the information. References to
square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus &
Millichap. All rights reserved.
2
TABLE OF CONTENTS
SECTION
FINANCIAL ANALYSIS 01
INVESTMENT OVERVIEW 02Location Overview
Regional and Local Map
Aerial Photo
MARKET OVERVIEW 03Market Analysis
Demographic Analysis
JERSEY JOHNNY’S HOUSE OF DOGS
3
JERSEY JOHNNY’S HOUSE OF DOGS
4
FINANCIAL
ANALYSIS
25 Newark Pompton Tpke, Pequannock, NJ 07440
PRICING AND VALUATION MATRIX
NOTES
PROPERTY NAMEJERSEY JOHNNY'S HOUSE OF DOGS
PRICING AND VALUATION MATRIX
PROPERTY NAMEJERSEY JOHNNY'S HOUSE OF DOGS
5
PRICING AND VALUATION MATRIXPRICING AND VALUATION MATRIX
PROPERTY NAMEJERSEY JOHNNY'S HOUSE OF DOGS
PRICING AND VALUATION MATRIX
PROPERTY NAMEJERSEY JOHNNY'S HOUSE OF DOGS
5
PRICING AND VALUATION MATRIX
5
#
PROPERTY SUMMARY
OFFERING SUMMARY
#
NOTES
JERSEY JOHNNY'S HOUSE OF DOGS
6
OFFERING SUMMARY
JERSEY JOHNNY’S HOUSE OF DOGS
7
INVESTMENT
OVERVIEW
12
TENANT PROFILES
JERSEY JOHNNY’S HOUSE OF DOGS
8
Jersey Johnny’s House of DogsJersey Johnny’s House of Dogs is a local restaurant chain with
multiple locations in the nearby neighboring municipalities of
Denville, Woodland Park, and Pequannock Township. Jersey
Johnny’s offers their homemade hot dogs and burgers, along
with salads, sandwiches and various side dishes. Jersey
Johnny’s is a classic American grill that has been serving the
local community since 2010. Jersey Johnny’s also has a food
truck that goes to various events and festivals throughout New
Jersey and Pennsylvania.
General Information
Tenant Name Jersey Johnny’s House of Dogs
Website www.jerseyjohnnys.com
Parent Company Jersey Johnn'y LLC
Headquartered Woodland Park, NJ
Rentable Square Feet 1,700 SF
Percentage of RBA 100.00%
Lease Commencement 1/1/2010
Lease Expiration 12/31/2019
No. of Locations 3
#
CLOSE PROXIMITY TO:
25 Newark Pompton Tpke, Pequannock, NJ 07440
1,700 Square Feet Single Tenant Building
Situated on 0.63 Acre Lot
10 Year NNN Lease Term
3% Annual Increases
Pequannock is a section of Pequannock
Township located in located in Morris County,
NJ. It is approximately 23 northwest miles
northwest of New York City. The borough is
situated along the Pequannock River. Some of
the boroughs and townships that share its
borders with Pequannock are Riverdale,
Kinnelon, Lincoln Park, Wayne, Pompton Lakes
and Butler. Some of the major roads that by
through or near Pequannock are Route 23,
Route 46, route 80, Interstate 287. NJ Transit
provides rail transportation to Hoboken
Terminal via the Mountain View station and
Lincoln Park Station on the Montclair-Boonton
Line. NJ Transit also provides bus service to
Port Authority Bus Terminal in Midtown
Manhattan on bus route 194. The subject
property is approximately 20 miles from Newark
Liberty International Airport.
LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEJERSEY JOHNN'Y HOUSE OF DOGS
PRICING AND VALUATION MATRIX
PROPERTY NAMEJERSEY JOHNNY’S HOUSE OF DOGS
9
LOCATION OVERVIEW
#
25 Newark Pompton Tpke, Pequannock, NJ 07440
LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX
PROPERTY NAMEJERSEY JOHNN'Y HOUSE OF DOGS
PRICING AND VALUATION MATRIX
PROPERTY NAMEJERSEY JOHNNY’S HOUSE OF DOGS
10
REGIONAL AND LOCAL MAP
AERIAL PHOTO
JERSEY JOHNNY’S HOUSE OF DOGS
11
PROPERTY PHOTO
JERSEY JOHNNY’S HOUSE OF DOGS
12
PROPERTY PHOTO
JERSEY JOHNNY’S HOUSE OF DOGS
13
PROPERTY PHOTO
JERSEY JOHNNY’S HOUSE OF DOGS
14
JERSEY JOHNNY'S HOUSE OF DOGS
COMPARABLES MAP
15
JERSEY JOHNNY'S HOUSE OF DOGS
(SUBJECT)
909 Ringwood Ave
529 Goffle Rd
16 Greenwood Lake Tpke
640 Wyckoff Ave
SALES COMPARABLES
1
2
3
4
16
PROPERTY NAMEJERSEY JOHNNY'S HOUSE OF DOGS
SALES COMPARABLES
Avg. 0.00%
0.0
0.7
1.4
2.1
2.8
3.5
4.2
4.9
5.6
6.3
7.0
Jersey
Johnn'y
House
of Dogs
909
Ringwood
Ave
529
Goffle Rd
16
Greenwood
Lake Tpke
640 Wyckoff
Ave
Average Cap Rate
Avg. $327.51
$0.00
$60.00
$120.00
$180.00
$240.00
$300.00
$360.00
$420.00
$480.00
$540.00
$600.00
Jersey
Johnn'y
House
of Dogs
909
Ringwood
Ave
529
Goffle Rd
16
Greenwood
Lake Tpke
640 Wyckoff
Ave
Average Price Per Square Foot
SALES COMPARABLES SALES COMPS AVG
PROPERTY NAME
MARKETING TEAM
JERSEY JOHNNY'S HOUSE OF DOGS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
17
SALES COMPARABLES
SUBJECT PROPERTY
Asking Price $868,643
Price/SF $510.97
CAP Rate 7.00%
GLA 1,700 SF
Lot Size 0.63 acre(s)
Lease Term Remaining 2.1 Years
JERSEY JOHNN'Y HOUSE OF DOGS25 Newark Pompton Tpke, Pequannock, NJ, 07440
1
Close Of Escrow 9/29/2017
Sales Price $400,000
Price/SF $215.52
GLA 1,856 SF
Lot Size .25 acre(s)
Year Built 1975
909 RINGWOOD AVE909 Ringwood Ave, Haskell, NJ, 07420
2
Close Of Escrow 7/17/2017
Sales Price $900,000
Price/SF $450.00
GLA 2,000 SF
Lot Size .34 acre(s)
Year Built 2011
529 GOFFLE RD529 Goffle Rd, Wyckoff, NJ, 07481
PROPERTY NAME
MARKETING TEAM
JERSEY JOHNNY'S HOUSE OF DOGS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
18
SALES COMPARABLES
3
Close Of Escrow 12/2/2016
Sales Price $870,000
Price/SF $217.50
GLA 4,000 SF
Lot Size 1.86 acre(s)
Year Built 1970
16 GREENWOOD LAKE TPKE16 Greenwood Lake Tpke, Ringwood, NJ, 07456
4
Close Of Escrow 10/14/2016
Sales Price $2,135,000
Price/SF $427.00
GLA 5,000 SF
Lot Size .42 acre(s)
Year Built 1987
640 WYCKOFF AVE640 Wyckoff Ave, Wyckoff, NJ, 07481
JERSEY JOHNNY’S HOUSE OF DOGS
19
MARKET
OVERVIEW
MARKET OVERVIEW
NORTHERN NEW JERSEYOVERVIEW
Northern New Jersey consists of Bergen, Hudson, Passaic, Essex,
Morris and Union counties. The region contains roughly 4 million
residents in more than 200 municipalities. Bergen county is home to
roughly 1 million people, while Essex County, which includes the city
of Newark, is at approximately 800,000 citizens. The region is
bordered to the east by the Hudson River and New York City, to the
south by Middlesex and Somerset counties, to the west by Warren
and Sussex counties, and to the north by New York state. A large
portion of the area is almost fully developed and densely populated.
The region is a part of the New York metro and is linked to the city by
the George Washington Bridge, the Lincoln Tunnel, the Holland
Tunnel, several ferries and commuter rail tunnels.
MARKET OVERVIEW
METRO HIGHLIGHTS
DIVERSE INDUSTRIES
Pharmaceuticals, healthcare and finance are a few
of the segments that contribute to the metro’s
economic base.
LARGE LABOR POOL
The region’s diverse and highly skilled labor pool, as
well as access to workers in other nearby metros,
draws businesses.
UNIQUE ECONOMY
Northern New Jersey has its own economic drivers
and is connected to New York City’s robust
economy.
JERSEY JOHNNY’S HOUSE OF DOGS
20
MARKET OVERVIEW
ECONOMY Northern New Jersey is home to numerous Fortune 500 companies including Prudential
Financial, Merck, PBF Energy and Honeywell International.
The airline industry accounts for a significant share of jobs in the region. United Airlines has
a major presence at Newark Liberty International Airport.
Trade is a key employment sector, at Port Newark-Elizabeth Marine Terminal with vehicle
imports accounting for a substantial amount of the port’s business.
Spillover from Wall Street bolsters finance jobs in Essex, Hudson and Bergen counties.
SHARE OF 2016 TOTAL EMPLOYMENT
MAJOR AREA EMPLOYERS
Prudential
UAL (United Continental Holdings)
University of Medicine and Dentistry of NJ
Hackensack Medical Center
New Jersey Transit
Englewood Hospital Association
Novartis Pharmaceuticals Corp.
St. Joseph’s Hospital and Medical Center
Valley Health Systems
ISO Services Inc.* Forecast
MANUFACTURING
6%GOVERNMENT
HEALTH SERVICES
EDUCATION AND
+
OTHER SERVICES
4%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
22%
AND UTILITIES
TRADE, TRANSPORTATION CONSTRUCTION
PROFESSIONAL AND
BUSINESS SERVICES
2%INFORMATION
17%
4%
14% 8% 7%
16%
JERSEY JOHNNY’S HOUSE OF DOGS
21
MARKET OVERVIEW
DEMOGRAPHICS
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
The borough is expected to add nearly 60,000 people and approximately 35,000
households through 2021, generating demand for housing.
The homeownership rate of 54 percent is below the national rate of 64 percent,
maintaining a strong rental market.
Approximately 38 percent of residents hold a bachelor’s degree, including 14
percent who have also obtained a graduate or professional degree.
Northern New Jersey offers a variety of amenities and cultural activities. Sports and
entertainment are available in East Rutherford at the Meadowlands. The MetLife Stadium is
home to the Giants and Jets of the NFL. The Prudential Center, also known as the Rock, is
an indoor arena in downtown Newark where the Devils (NHL) and Seton Hall University
play. Downtown Newark also houses the New Jersey Performing Arts Center and Bears
and Eagles Riverfront Stadium, home of the Newark Bears, a minor-league baseball team.
Numerous community colleges and universities are located in the metro, including Seton
Hall University, the Newark campus of Rutgers University, Stevens Institute of Technology
and Bergen Community College.
38.3
2016MEDIAN AGE:
U.S. Median:
37.7
$69,800
2016 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$54,500
4M
2016POPULATION:
Growth2016-2021*:
1.5%
1.5M
2016HOUSEHOLDS:
2%
Growth2016-2021*:
QUALITY OF LIFE
2016 Population by Age
0-4 YEARS
6%5-19 YEARS
19%20-24 YEARS
6%25-44 YEARS
28%45-64 YEARS
27%65+ YEARS
14%
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s
Analytics; U.S. Census Bureau
JERSEY JOHNNY’S HOUSE OF DOGS
22
2016 Net-Leased Retail Market Overview
Y-O-Y Average
Cap Rates
down 10 Basis
Points
Consumption growth steady as hiring extends into sixth year. The continued
employment growth cycle has helped support consistent gains in retail sales despite
tepid wages. For retail center owners, positive economic momentum has steadily
tightened vacancy without sparking significant construction. To address limited space
availability, retailers have been working with developers to expand the pipeline of
single-tenant floor plans, with deliveries topping 39 million square feet in 2015,
accounting for the vast majority of retail completions. While internationally driven
headwinds prompted some volatility in the first quarter, positive traction has boosted
confidence and limited caution, at least for the short term. Considering bars and
restaurants have been a leading retail growth sector, the outlook for these and other
net-leased assets remains strong.
Investors trading out of other assets via 1031-exchanges lead net-lease buyer
pool. As a growing number of property owners near retirement, many are choosing to
transition their investment portfolios from apartment assets that are trading at a
premium into net-leased retail properties throughout the U.S. Benefits can include
higher initial yields than other low-maintenance options and reduced volatility relative
to other property types. Net-leased properties offer a wide range of choices with
average cap rates in the mid-5 percent range, depending on location and tenancy.
While pending mergers and minimum-wage concerns made headlines in several net-
leased sectors, deal flow was limited by a lack of available listings rather than a
slowdown in demand. Investors typically use cash to close transactions, underscoring
the amount of capital readily available for well-positioned assets with corporate credit
tenants. Although cap rates are likely to remain stable due to the tight spread between
credit financing and prices, willing investors continue to actively search for attractive
offerings. With several states considering more stringent definitions of like-kind
exchanges, potentially limiting where acquisitions can be made, the current demand
for net-leased properties remains robust.
23
Y-O-Y Average
Cap Rates
down 10 Basis
Points
Y-O-Y Average
Cap Rates
down 50 Basis
Points
Y-O-Y Average
Cap Rates
down 20 Basis
Points
Y-O-Y Average
Cap Rates
down 20 Basis
Points
Net-Lease Assets Favored Amid Limited Development Cycle
Dollar Stores: Although deal flow fell followingthe announcement of store dispositions by thecombined Family Dollar/Dollar Tree, cap ratesin the sector slipped into the mid-7 percentband on average. Properties with new leaseswill change hands with average cap rates in themid-6 percent range.
Auto-Part Retailers: Auto-part retailer cap
rates continue to contract as investors flock
to the sector. Average cap rates will begin in
the high-5 percent range and extend into the
mid-7 percent band, depending on tenancy
and location.
Drugstores: Assets with new leases in this
space will trade at cap rates starting in the low-
5 percent range, with Walgreens commanding
a premium to both CVS and Rite Aid.
Uncertainty surrounding the Wagreens/Rite Aid
merger may slow trading volume.
Quick-Service Restaurants: The average
cap rate in the QSR space dropped into the
low-5 percent range, with stalwarts including
Starbucks and McDonald’s pricing in the mid-
4 percent range. Shorter leases and regional
credits will push yields closer to 6 percent.
Casual-Dining Establishments: Performance
in the sector has become increasingly
bifurcated, with new leases dropping trading
properties’ caps into the mid-5 percent range.
Tenancy and credit considerations will push the
top end of the range into the mid-7 percent
region.
NATIONAL NET-LEASED RETAIL REPORT
23
SECOND QUARTER 2016
24
Auto-Part Retailers
* Through first quarter
** Trailing 12 months through first quarter
Sources: Marcus & Millichap Research Services; CoStar Group, Inc.
Economy
While auto sales have been robust in recent years, the average age of a car on the road is at a
record 11.5 years old, leaving plenty of room for growth to continue. The need to service older
vehicles will push up receipts at auto-parts retailers, providing an attractive net-lease opportunity.
Deal flow rose 20 percent over the past year as investors allocated more capital to the sector. Prices
per square foot range from the mid-$150 area for regional operators to the mid-$300 region for
national credit tenants such as AutoZone and Advance Auto Parts.
Higher prices were accompanied by tighter cap rates, with initial yields in the mid-6 percent region
nationwide. However, cap rates can vary from the mid-4 percent range for excellent locations with
new leases to the mid-8 percent band for shorter lease terms.
Outlook: The secular trend of aging vehicles will maintain high demand for replacement auto parts,
supporting a tactical acquisition strategy in the sector.
Over the past year, the U.S. economy added 2.8 million jobs, expanding total employment 2 percent
as persistent hiring in healthcare and professional services industries combined to add more than
1.3 million positions. While manufacturing and natural resources sectors detracted from gains, all
other groups recorded advancement, supporting broad-based growth.
Labor market gains have spilled over into unemployment, which recently hit multidecade lows not
seen since 1973. In addition, the unemployment rate sank 50 basis points to 5 percent, the lowest
level since 2007.
Core retail sales, which exclude volatile gasoline prices and auto sales, rose 3.9 percent over the 12
months ending in the first quarter. Several categories, including building materials and healthcare,
vaulted more than 6 percent, indicating consumer readiness to spend in specific areas.
Outlook: Labor market resilience will encourage more new households, supporting additional spending
at retail outlets. As a result, vacancy will decline 30 basis points nationwide to 5.8 percent, while the
average asking rent ticks up 2.8 percent to $18.94 per square foot.
NATIONAL NET-LEASED RETAIL REPORT
24
SECOND QUARTER 2016
25
The combined entity of Family Dollar and Dollar Tree is in the process of selling 330 stores following
its merger acceptance by the Department of Justice.
Trading contracted 23 percent as investors were much more diligent in their acquisition strategies in
the sector. Prices also fell below $130 per square foot, down from $180 per square foot in the
previous year.
First-year yields fell 50 basis points to the mid-7 percent range on average, with most deals pricing
in the high-5 percent to high-8 percent range, depending on lease structure, location and area
demographics. Dollar General stores typically command a premium as investors seek to avoid
tenancy risk by refraining from stores controlled by the combined Family Dollar/Dollar Tree entity.
Outlook: Net-leased buyers have opted to largely pursue other options in the sector, leading to a
contraction of volume and sales activity. This may continue for some time until investors are more
confident in the outlook for store counts.
The casual-dining space is undergoing dramatic changes, with fast-casual options gaining market
share from traditional options. Bob Evans announced several store closures due to performance,
joining Bravo Brio and Ovation Brands, the parent of Ryan’s Buffet and Old Country Buffet.
Transaction velocity ticked up 8 percent, with dollar volume advancing at a higher rate than closed
deals. Prices can range from $250 per square foot to more than $750 per square foot.
First-year yields will vary widely by tenant and location. The best sites will price in the low-5 percent
range to the mid-7 percent region.
Outlook: Investors in the space will be much more focused over the coming year, choosing to pay up for
chains including Chipotle and Panera Bread, while eschewing struggling operators.
Dollar Stores
** Trailing 12 months through first quarter
Sources: Marcus & Millichap Research Services; CoStar Group, Inc.
Casual-Dining Establishments
NATIONAL NET-LEASED RETAIL REPORT
25
SECOND QUARTER 2016
26
Quick-Service Restaurants
** Trailing 12 months through first quarter
Sources: Marcus & Millichap Research Services; CoStar Group, Inc.
Drugstores
During the past year, many states have passed laws supporting a $15 per hour minimum wage,
prompting investors to contemplate the results of this change. While the effect is unknown right
now, buyers may slow their rate of capital deployment in the sector until more information is
available.
Deal flow rose dramatically over the past year, with price per square foot exceeding $900 in primary
markets on assets with corporate tenants signed under long-term leases. Overall, prices can range
from $400 to $1,000 per square foot, indicating the wide range of pricing depending on tenancy.
Cap rates in the sector fell into the low- to mid-5 percent range, with stalwarts including Starbucks
and McDonald’s often commanding a lower premium.
Outlook: Brand power will overcome minimum-wage concerns in most markets as buyers seek safety
by purchasing net-leased assets in the QSR space that are leased by a Fortune 500 tenant.
During the past year, the drugstore segment was catalyzed by the proposed merger between
Walgreens and smaller rival Rite Aid. While the tie-up has yet to be approved by regulators,
investors have had to confront the possibility of store closures in some markets as a result of an
approval.
Transaction prices increased marginally over the past year, varying from $400 to $700 per square
foot, depending on leasing terms and location. Walgreens garnered an average price of nearly $500
per square foot, while CVS storefronts priced at an average of $550 per square foot as buyers
sidestepped the possible merger risk by picking up CVS offerings.
During the last year, first-year yields sank roughly 20 basis points on average to the mid-5 percent
range, although prices can vary widely by tenancy. Walgreens stores typically price in the low- to
mid-5 percent range, while CVS locations are typically in the mid- to high-5 percent band.
Outlook: Uncertainty surrounding the Walgreens/Rite Aid merger will continue to drive sentiment in the
drugstore space in 2016. However, safety of yield and hands-off management will push investors to
deploy capital in the sector.
NATIONAL NET-LEASED RETAIL REPORT
26
SECOND QUARTER 2016
Capital Markets Recent Marcus & Millichap Transactions
The U.S. economy grew nominally in the first quarter as respectable consumer
trends were partly offset by softness in manufacturing, exports and business
investment. The lull in economic activity in the first three months of 2016, and
volatility in the stock and debt markets, will likely delay any action on monetary
policy by the Federal Reserve until midyear at the earliest. Against this broader
economic backdrop, retail properties continued to gain traction behind growing
space demand and limited construction. This year, retailers will absorb an
additional 61 million square feet of space to cut the U.S. vacancy rate 30 basis
points to 5.9 percent.
CMBS issuance declined in the first quarter from the corresponding period one
year ago, offering the latest evidence of disruption in the securitized market.
Although spreads on the highest-rated bonds in a securitized pool compressed
slightly during this year’s opening quarter, they remain wider than one year ago,
meaning borrowers face slightly higher costs. Bond investors also require higher
returns on loans perceived as being aggressively underwritten with higher LTVs
and on loans issued to lower-rated borrowers, putting a squeeze on securitized
lenders that could potentially limit lending capacity.
Bank lenders remain positioned and capitalized to compete for market share,
perhaps gaining business that CMBS cannot fill. The Federal Reserve’s
accommodative monetary stance continues to support a low cost of capital to
these lenders. National, regional and local banks offer leverage on retail property
loans that averages in the 65 percent range and loan terms vary from five, seven
and 10 years. Spreads vary depending on asset location and quality but generally
start in the low- to mid-200-basis-point range above corresponding swap rates.
Bridge financing spread over short-term benchmarks is also available for properties
in transition.
27
Property Name City, State Sales PricePrice per
Sq. Ft.Cap Rate
Wal-Mart Neighborhood
MarketMurfreesboro, TN $14,858,956 $345 5.2%
Walgreens Sauk Rapids, MN $11,517,857 $795 5.6%
Red Lobster Atlanta, GA $8,278,252 $1,122 6.2%
CVS Lago Vista, TX $6,355,160 $451 6.0%
McDonald’s Tacoma, WA $4,933,000 $1,083 3.8%
Advance Auto Parts Ft. Lauderdale, FL $3,404,261 $486 5.8%
Panera Bread New Berlin, WI $3,100,000 $715 4.8%
Jack in the Box Granada Hills, CA $3,000,000 $1,429 4.8%
Popeyes Lakewood, WA $3,000,000 $1,391 5.0%
Taco Bell Las Vegas, NV $2,598,500 $1,071 5.0%
Applebee’s Delray Beach, FL $2,525,000 $531 5.5%
Starbucks Sugar Land, TX $2,360,000 $1,276 5.0%
Dollar General Medford, OR $2,250,000 $250 6.0%
Buffalo Wild Wings Olive Branch, MS $2,166,000 $393 7.5%
Wendy’s Jenison, MI $2,163,200 $640 6.0%
Family Dollar Arabi, LA $1,892,677 $206 6.5%
Pep Boys Harrisburg, NC $1,740,000 $314 6.0%
Denny’s Warwick, RI $1,710,000 $428 6.2%
Burger King Crystal Lake, IL $1,650,000 $420 5.9%
Pizza Hut Coraopolis, PA $1,400,000 $389 6.5%
Jimmy John’s Austin, TX $1,175,000 $592 5.4%
NATIONAL NET-LEASED RETAIL REPORT
27
SECOND QUARTER 2016
PROPERTY NAME
MARKETING TEAM
JERSEY JOHNNY’S HOUSE OF DOGS
DEMOGRAPHICS
Source: © 2016 Experian
Created on December 2017
POPULATION 1 Miles 3 Miles 5 Miles
2021 Projection
Total Population 6,294 62,897 155,694
2016 Estimate
Total Population 6,312 62,602 153,705
2010 Census
Total Population 6,273 62,069 151,349
2000 Census
Total Population 6,379 60,613 146,798
Current Daytime Population
2016 Estimate 6,333 65,578 183,694
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
2021 Projection
Total Households 2,134 22,923 57,674
2016 Estimate
Total Households 2,119 22,530 55,792
Average (Mean) Household Size 2.88 2.69 2.66
2010 Census
Total Households 2,092 22,135 54,408
2000 Census
Total Households 2,091 21,351 51,178
Occupied Units
2021 Projection 2,134 22,923 57,674
2016 Estimate 2,150 22,957 56,969
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
2016 Estimate
$150,000 or More 25.50% 26.63% 26.29%
$100,000 - $149,000 24.03% 23.55% 21.45%
$75,000 - $99,999 14.74% 13.28% 13.07%
$50,000 - $74,999 15.62% 13.91% 13.54%
$35,000 - $49,999 7.36% 7.81% 9.09%
Under $35,000 12.75% 14.83% 16.55%
Average Household Income $131,609 $130,116 $130,206
Median Household Income $99,139 $100,316 $95,597
Per Capita Income $44,299 $47,106 $47,659
HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles
Total Average Household Retail Expenditure
$81,712 $82,268 $80,998
Consumer Expenditure Top 10 Categories
Housing $26,586 $26,822 $26,413
Shelter $17,506 $17,655 $17,359
Transportation $13,141 $13,057 $12,844
Personal Insurance and Pensions $8,565 $8,653 $8,368
Food $7,587 $7,597 $7,475
Health Care $5,744 $5,851 $5,807
Utilities $5,004 $4,979 $4,911
Entertainment $2,823 $2,829 $2,782
Education $2,430 $2,391 $2,251
Apparel $1,915 $1,980 $1,957
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
Population By Age
2016 Estimate Total Population 6,312 62,602 153,705
Under 20 24.83% 23.83% 23.77%
20 to 34 Years 16.41% 14.82% 15.82%
35 to 39 Years 5.21% 5.19% 5.34%
40 to 49 Years 14.92% 14.68% 14.28%
50 to 64 Years 22.74% 23.00% 22.46%
Age 65+ 15.88% 18.50% 18.31%
Median Age 42.81 44.74 43.99
Population 25+ by Education Level
2016 Estimate Population Age 25+ 4,345 44,362 107,970
Elementary (0-8) 1.36% 2.25% 3.01%
Some High School (9-11) 4.10% 3.81% 4.33%
High School Graduate (12) 30.86% 27.33% 28.58%
Some College (13-15) 15.47% 14.35% 15.11%
Associate Degree Only 7.82% 6.06% 5.79%
Bachelors Degree Only 25.70% 29.07% 26.86%
Graduate Degree 13.55% 16.22% 15.50%
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Income
In 2016, the median household income for your selected geography is
$95,597, compare this to the US average which is currently $55,159.
The median household income for your area has changed by 29.49%
since 2000. It is estimated that the median household income in your
area will be $108,863 five years from now, which represents a change
of 13.88% from the current year.
The current year per capita income in your area is $47,659, compare
this to the US average, which is $30,249. The current year average
household income in your area is $130,206, compare this to the US
average which is $79,207.
Population
In 2016, the population in your selected geography is 153,705. The
population has changed by 4.71% since 2000. It is estimated that the
population in your area will be 155,694.00 five years from now, which
represents a change of 1.29% from the current year. The current
population is 48.45% male and 51.55% female. The median age of
the population in your area is 43.99, compare this to the US average
which is 37.69. The population density in your area is 1,953.70 people
per square mile.
Households
There are currently 55,792 households in your selected geography.
The number of households has changed by 9.02% since 2000. It is
estimated that the number of households in your area will be 57,674
five years from now, which represents a change of 3.37% from the
current year. The average household size in your area is 2.66 persons.
Employment
In 2016, there are 95,002 employees in your selected area, this is also
known as the daytime population. The 2000 Census revealed that
72.57% of employees are employed in white-collar occupations in
this geography, and 27.19% are employed in blue-collar occupations.
In 2016, unemployment in this area is 6.36%. In 2000, the average
time traveled to work was 30.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
83.83% White, 3.22% Black, 0.02% Native American and 7.45%
Asian/Pacific Islander. Compare these to US averages which are:
70.60% White, 12.83% Black, 0.19% Native American and 5.43%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 13.18% of the current year
population in your selected area. Compare this to the US average of
17.77%.
PROPERTY NAME
MARKETING TEAM
JERSEY JOHNNY’S HOUSE OF DOGS
Housing
The median housing value in your area was $393,428 in 2016,
compare this to the US average of $190,673. In 2000, there were
41,855 owner occupied housing units in your area and there were
9,323 renter occupied housing units in your area. The median rent at
the time was $818.
Source: © 2016 Experian
DEMOGRAPHICS
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www.MarcusMillichap.com
Greg Babaian
Vice President Investments
New Jersey Office
Tel: (201) 742-6123
Fax: (201) 742-6110
License: NJ 0016093
P R E S E N T E D B Y
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