Hardee's - EXP Realty Advisors

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Table of contents | Disclaimer Hardee’s 975 Glynn Street North, Fayetteville, GA PAGE 1: COVER PAGE 2: TABLE OF CONTENTS | DISCLAIMER PAGE 3: INVESTMENT | TENANT | LEASE OVERVIEW PAGE 4: TENANT ARTICLE PAGE 5: PROPERTY PHOTO PAGE 6: AERIAL PHOTO PAGE 7: LOCATION OVERVIEW PAGE 8-9: LOCATION MAPS PAGE 10: DEMOGRAPHICS Disclaimer EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the property located at 975 Glynn Street North, Fayetteville, GA by the owner of the Property (“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the interest described herein. The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Agent or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communication or information transmitted or made available or any action taken or decision made by the recipient with respect to the Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Seller and Agent each expressly reserves the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawal from the market without notice. Agent is not authorized to make any representations or agreements on behalf of Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Property unless and until a binding written agreement for the purchase of the Property has been fully executed, delivered, and approved by Seller and any conditions to Seller’s obligations hereunder have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Agent or Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Property directly or indirectly regarding any aspect of the enclosed materials or the Property without the prior written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller and Agent. 4
Investment overview Hardee’s 975 Glynn Street North, Fayetteville, GA PRICE: $1,932,000 CAP RATE: 7.25% NET OPERATING INCOME: $140,000 BUILDING AREA: 3,255+ Square Feet LAND AREA: 0.82+ Acres YEAR BUILT: 2012 OWNERSHIP: Fee Simple Interest OCCUPANCY: 100% Tenant overview Biscuits and Burgers, L.L.C., a Georgia limited liability company dba Hardee’s HARDEE’S | www.hardees.com Hardee’s The first Hardee’s restaurant was opened by Wilbur Hardee in 1960. Hardee’s restaurants are located predominantly in the Southeastern and Midwestern United States. Franchise agreements with Hardee’s franchisees generally provide for the payment of franchise fees and royalty fees, and advertising fees to a national fund and/or a regional cooperative fund, based upon a percentage of gross sales (typically 4% for royalties and 4% to 6% for advertising). As of January 31, 2011, Hardee’s franchisees and licensees operated 1,433 Hardee’s restaurants, or approximately 75% of the Hardee’s system. The majority of Hardee’s franchisees and licensees own more than one restaurant, with 30 franchisees and licensees owning ten or more restaurants. CKE Restaurants, Inc. Carl Karcher Enterprises’ Restaurants, Inc. acquired Hardee’s in 1999. Founded by Carl’s Jr. entrepreneur Carl Karcher in 1964, SUBJECT CKE PROPERTY today owns, operates, franchises and/or licenses 3,159 quick-service restaurants (QSR), primarily under the brand names Carl’s Jr. and Hardee’s PRIOR , both TO of PANDA which offer EXPRESS innovative, EXPANSION premium products intended to appeal to a target audience of young, hungry guys. Biscuits and Burgers, L.L.C. Lease overview Initial Lease Term: 20-Years, Plus 4, 5-Year Options to Renew Projected Rent Commencement: December 2012 Projected Lease Expiration: December 2032 Lease Type: Absolute NNN Rent Increases: 7.5% in Lease Year 6 & Escalating Every 5 Yrs. Year 1-5 Annual Rent (Current): $139,680 Year 6-10 Annual Rent: $150,156 Year 11-15 Annual Rent: $161,418 Year 16-20 Annual Rent: $173,524 Year 21-25 Annual Rent (Option 1): $186,538 Year 26-30 Annual Rent (Option 2): $200,529 Year 31-35 Annual Rent (Option 3): $215,568 Year 36-40 Annual Rent (Option 4): $231,736 The franchisee, Biscuits, and Burgers, L.L.C. is owned by Steve Rosenfield and Dewey “Buddy” Brown and based in Lakewood, CO. Mr. Rosenfield has over 40 years of restaurant and real estate experience. His past experience includes owning and operating numerous McDonalds, Burger King, and Tony Roma’s locations. The franchisee currently owns and operates 99 Hardee’s and Carl’s Jr. restaurants. Strong personal guarantee included as part of the lease. 3
Page 1: EXCLUSIVE OFFERING | $1,932,000 - 7
Page 5 and 6: PROPERTY photo Hardee’s 975 Glynn
Page 7 and 8: Location overview Hardee’s 975 Gl
Page 9 and 10: Location map Hardee’s 975 Glynn S

Hardee's - EXP Realty Advisors

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