krispy kreme doughnuts - Capital...

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krispy kreme doughnuts fee simple asset in Roanoke MSA 1625 Hershberger Rd NW, Roanoke, VA 24012 [ www.CapitalPacific.com ] Click for Map Contact: joe caccamo [email protected] | (415) 274-7394 CA BRE# 01191110

Transcript of krispy kreme doughnuts - Capital...

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

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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

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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