Post on 13-Jul-2020
Carl’s Jr
[ REPRESENTATIVE PHOTO ]
20-year absolute net lease withrental increases every 5 years1014 W. Joe Harvey Blvd, Hobbs, NM 88240
[ www.CapitalPacific.com ]
ReNtaBle SF . . . . . . . . . . . . . . . 2,997 SF
laNd aRea . . . . . . . . . . . . . . . 0 .85 Acres
BUIlt . . . . . . . . . . . . . . . . . . . . May 1, 2016
leaSe exPIRatIoN . . . . . . . . . April 30, 2036
PRICE: $2,308,333CAP: 6.00%
Listing TeamContact Info
John Andreinijandreini@capitalpacific .com | (415) 274-2715CA BRE# 01440360
Capital Pacific collaborates . Click here to meet the rest of our San Francisco team .
fREEstAndIng dRIvE-thRu REstAuRAnt loCAtEd ACRoss fRom thE homE dEPot
Listed in Conjunction with NM Licensed Broker:Sean McMullan, McMullan & Company Real Estatesean@mcmullanrealestate .com | (505) 259-6223
PROperty Summary
[ Surrounding area retail ]
CARL’S jR | 2
the average household income within a one mile radius is over $91,000
investment highlights
Area retailers include Walmart, Lowe’s, The Home Depot, Buffalo Wild Wings, Applebee’s, and many others .
Population growth in one, three, and five mile radii
tenant highlights
Carls jr . 2014 sales were $1 .5 billion
Over 1,300 locations
guarantor
Franchisee since 1997
Currently owns and operates 11 nationally recognized brand restaurants: 8 IHOP’s, 2 Carl’s jr . (including Hobbs), and Tilted Kilts in New Mexico, Texas, and Ohio
lease highlights
7 .5% rental increases every 5 years in base term and option periods
Four 5-year options with rental increases every 5 years
Zero landlord responsibilities
core characteristics
[ REPRESENTATIVE PHOTO ] CARL’S jR | 3
N Grimes Street N dal Paso Street
N Grimes StreetNW County RoadW
Nav
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rive
Joe H
arve
y Blvd
.
W B
ende
r Bou
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W M
illen d
rive
W M
illen d
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1818
18
218
18
132
Sanger elementary
Mills elementary
Coronado elementary
Highland Jr. High School
Stone elementary
tURNeR PlaZa
BRoadMooR Mall
®
alBuQuerQue
13,2
08 D
ail
Y
3,365 DailY
aerialloCated aCRoSS FRoM tHe HoMe dePot
CARL’S jR | 4
area retailers incluDe lowe’s
walmart, the home Depot, anD
manY others
Surrounding Area Retail
CARL’S jR | 5
[ REPRESENTATIVE PHOTO ][ REPRESENTATIVE PHOTO ]
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.
PRICE $2,308,333 Price Per Square Foot: $770 .21
Capitalization Rate: 6 .00%
Total Rentable Area (SF): 2,997
Lot Size (AC): 0 .85
STABILIZED INCOME Per Square FootScheduled Rent $46 .21 $138,500
Effective Gross Income $46 .21 $138,500
LESS Per Square FootTaxes Tenant Pays Direct $0 .00
Insurance Tenant Pays Direct $0 .00
Total Operating Expenses NNN $0 .00
EQUALS NET OPERATING INCOME $138,500
income & expense
CARL’S jR | 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 information and bears all risk for any inaccuracies.
RENTALINCREASES
rent roll
TENANT INFO LEASE TERMS RENT SUMMARY
Tenant Name Sq . Ft . Term Current Rent
MonthlyRent
YearlyRent
MonthlyRent/FT
YearlyRent/FT
Carl’s jr . 2,997 1 5 $138,500 $11,541 .67 $138,500 $3 .85 $46 .21
6 10 $12,407 .29 $148,888 $4 .14 $49 .68
11 15 $13,337 .83 $160,054 $4 .45 $53 .40
16 20 $14,338 .33 $172,060 $4 .78 $57 .41
Option 1 21 25 $15,413 .71 $184,965 $5 .14 $61 .72
Option 2 26 30 $16,569 .74 $198,837 $5 .53 $66 .35
Option 3 31 35 $17,812 .47 $213,750 $5 .94 $71 .32
Option 4 36 40 $19,148 .40 $229,781 $6 .39 $76 .67
Totals: 2,997 $138,500 $11,542 $138,500 $3.85 $46.21
[ Surrounding area retail ]CARL’S jR | 7
SIte PlaN Key
PARCEL OuTLINE:
LAND AREA: 0 .85 ACRES
BuILDING AREA: 2,997 SF
INGRESS/EGRESS:
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.
Joe
Harv
ey B
oule
vard
site plan
CARL’S jR | 8
CaRl’S JR.Carl’s jr . is an American fast-food restaurant chain known for quality, cleanliness, and pioneering new concepts such as partial table service and self-serve beverage bars . It is characterized by its popular logo, the bright yellow five-pointed Happy Star, and has a history of developing popular advertising slogans such as “If it doesn’t get all over the place, it doesn’t belong in your face” . Signature menu items include the 100% Angus beef Six Dollar Burger™, charbroiled chicken sandwiches, entrée salads and low carbohydrate options . When combined with its sibling restaurant chain, Hardee’s, Carl’s jr . is the fifth largest fast food chain in size .
Carl’s jr . is currently owned and operated by CKE Restaurants, Inc ., one of the world’s largest operators and franchisors of quick service restaurants . With its headquarters in Carpinteria, California, CKE Restaurants Inc . currently has franchised, licensed, or company operated restaurants in 42 u .S . states and 25 foreign countries . Their brands include the Carl’s jr, Hardee’s, Green Burrito, and Red Burrito restaurants chains .
aBoUt tHe GUaRaNtoRTeo Regalado, who will be operating the store, has been a franchisee since 1997 and has owned/operated 6 IHOP restaurants in Texas and Louisiana . After selling off these stores, IHOP sent him to open more stores in New Mexico in which he has done huge sales volumes . He currently owns and operates 11 nationally recognized brand restaurants: 8 IHOP’s, 2 Carl’s jr .’s (including Hobbs), and Tilted Kilts in New Mexico, Texas, and Ohio .
www.carlsjr.com
[ REPRESENTATIVE PHOTOs ]
2014 ReVeNUe $1.5 BIllIon
NUMBeR oF loCatIoNS 1,300+
tenant overview
CARL’S jR | 9
HoBBS, NM oVeRVIeW Hobbs is located in Lea County, New Mexico both west and north of the Texas state line and is the principal city of the Hobbs, New Mexico Micropolitan Statistical Area . The population of Hobbs was 34,122 at the 2010 Census and the population in Lea County was 64,727 .
Hobbs holds the headquarters of the Soring Society of America . It is also home to Zia Park racetrack, which hosts thoroughbred and quarter horse racing and the Black Gold Casino .
population
2015 householD incomes
HOBBS
1-Mile 3-Mile 5-Mile
2010 6,057 28,070 41,2062015 6,496 30,254 44,1662020 7,008 33,013 48,054
1-Mile 3-Mile 5-Mile
Average $91,695 $74,431 $68,214
location & demographics
OKLAHOMA CITY
ALBuquERquE
DALLAS
4 HR 53 MIN314 MILES
3,365 Da
ilY
top emploYers in lea countY
Haliburton Hobbs Municipal Schools Lea Regional Medical Center Patterson-uTI Drilling Co .
CARL’S jR | 10
A unique HUMANRESULTS-DRIVEN client experience
tHe CaPItal PaCIFIC exPeRIeNCe - oUR daIly CoMMItMeNt to oUR ClIeNtS
[ www.CapitalPacific.com ]
JoHN aNdReINIjandreini@capitalpacific .com | (415) 274-2715 CA BRE# 01440360
[ Copyright © 2016 Capital Pacific ]
Capital Pacific collaborates . Click here to meet the rest of our San Francisco team .
daVe lUCaS
ZaNdy SMItH
JaCK NaVaRRa
Joe CaCCaMo
GReGG Steele
KaRla ZeNS
daVe lUCaSdlucas@capitalpacific .com | (415) 274-7390CA BRE# 01389761
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BoB SaNNeRbsanner@capitalpacific .com | (415) 274-2717 CA BRE# 00869657
CHRIS KoStaNeCKI ZeB RIPPle
Listed in Conjunction with NM Licensed Broker:Sean McMullan, McMullan & Company Real Estate | sean@mcmullanrealestate .com | (505) 259-6223
[ REPRESENTATIVE PHOTO ]
CHRIS PeteRS