duchesnechevron/burgerking - loopnet

Duchesne Chevron/Burger King472 W Main, Duchesne UT 84021

O F F E R I N G M E M O R A N D U M

Duchesne Chevron/Burger KingCONTENTS

Exclusively Marketed by:

Trenton BrightAssociate Broker(435) [email protected] Lic: 7961776-AB00

Eric GerardiSales Agent(385) [email protected] Lic: 10217079-SA00

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

01 Executive Summary Investment Summary Location Summary

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02 Property DescriptionProperty Features 8

03 Financial AnalysisIncome & Expense AnalysisMulti-Year Cash Flow Assumptions Cash Flow AnalysisDisposition Sensitivity Analysis

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04 DemographicsDemographics Demographic Charts

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mailto:[email protected]


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Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW South Valley Keller Williams makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KWSouth Valley Keller Williams does not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Taxquestions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies.All properties and services are marketed by KWSouth Valley Keller Williams in compliance with allapplicable fair housing and equal opportunity laws.

Duchesne Chevron/Burger King Disclaimer | 03

Copyright © 2021 CREOP, LLC. All Rights Reserved.

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Executive Summary

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................................................ Investment Summary

Location Summary

Duchesne Chevron/Burger King Investment Summary | 05

OFFERING SUMMARYADDRESS 472 W Main

Duchesne UT 84021COUNTY DuchesneBUILDING SF 6,300 SFLAND SF 63,162 SFYEAR BUILT 2016APN 00-0000-5482OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $5,250,000PRICE PSF $873.02

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2020 Population 1,454 2,052 2,3772020 Median HH Income $56,955 $57,292 $57,5512020 Average HH Income $70,244 $70,728 $70,830

The Eagles Nest Chevron/ Burger King-Apex Commercial Real Estate | KW South Valley Keller Williams is pleased to present the sale of the Chevron/ Burger King combo located at: 472 W. Main St, Duchesne, Utah 84021.

-This Chevron sitting on 0.94 acres is not only a Gas Station but also has a Burger King located right inside. As the first right-handed side gas station as you enter into Duchesne. This facility is a great pit stop for grabbing any quick road-side essentials and fueling up before heading back out. For those staying the night and vacationing, there is a Best Western Hotel located directly behind it. This adds tremendous value as people cant miss the conveniently located Gas Station right across the street. Duchesne High School, home of the soaring Eagles is located directly across the street towards the frontage of the Chevron which is prime for seniors grabbing some quick snacks and food during their lunch.

-Opportunist love opportunity and with this particular investment you get another added benefit. The lot directly east of this Chevron/ Burger King is included in the sale. This C1 zoned vacant lot is 0.51 acres and could serve as another great investment tool with many development opportunities.

Duchesne Chevron/Burger King Location Summary | 06

Duchesne Chevron/Burger King Market Summary and Attractions| 07

Market Summary-"Because much of this decline is not caused by underlying fundamental economic problems, most market segments should start to see meaningful relief in the first and second quarter of 2021. Destinations with appealing natural amenities such as beaches and mountains have already seen a high influx from pent-up demand this summer and will likely hold steady through the fall. Drive-to locations are also experiencing increased occupancy levels." Source: https://www.hospitalitynet.org/opinion/4100921.html

-Duchesne County enjoys a strong economic base and employment profile. However, recent reports show that a relatively small number of industries (especially the energy industry) generate the majority of economic returns. In an effort to decrease "single industry dependence", the County will continue to support the economic diversification strategies of the Duchesne County Chamber of Commerce. These efforts include, but are not limited to, business retention and expansion, value-added agriculture, tourism and recreation.

-Today, extractive-use industries: livestock, timber, mining, and oil; remain the backbone of the region's economy. The County continues to encourage and support these industries in an effort to stabilize drastic swings in the economy. The County has explored and promoted economic development and growth strategies that would diversify the County's economic base while maintaining the County's current lifestyle and character.

Recreation & Tourism-Duchesne County has identified the recreation and tourism industries as part of its economy and tax base. These industries have a stabilizing effect on the economic cycles of agriculture and the oil and gas industry. Public lands are a critical component of tourism and recreation in Northeastern Utah.

-Federal, state, county, and even private lands offer a broad range of recreational opportunities, including camping, hiking, fishing, hunting, horseback riding, biking, nature appreciation, interpretive trips, wildlife watching, boating, and other tourism-related activities. Public lands also support businesses that offer such opportunities to the public, including outfitters and guides, whitewater rafting, outdoor camps, wilderness/survival schools, and dude ranches.

-A variety of recreational opportunities and experiences are available for residents and visitors alike to enjoy in Duchesne County. The Uinta Mountains have more than 1,000 natural lakes and small streams, over half of which support populations of game fish. Many of the trailheads in this beautiful backcountry are within a 90-minute drive from Salt Lake City.

-Starvation State Park on average has 110,000 to 140,000 visitors per year. From 2019 to 2020, the visitors to the State Park increase over 25%, while the overall visitors to Utah's State Parks Increase over 17.5%.

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................................................ Property Features

Aerial Map

Parcel Map

Additional Maps

Pictures with Captions

Duchesne Chevron/Burger King Property and County Features | 09

PROPERTY FEATURES

BUILDING SF 6,300

LAND SF 63,162

LAND ACRES 1.45

YEAR BUILT 2016

# OF PARCELS 2

ZONING TYPE C1

NUMBER OF STORIES 1

NUMBER OF BUILDINGS 1

NUMBER OF PARKING SPACES 24

TRAFFIC COUNTS 7000

-Utah’s Duchesne County is located on the south slope and foothills of the longest east-west mountain range in the continental United States, known as the Uintah Mountains. Located between Denver and Salt Lake City; the scenic attractions include: rivers, streams, and lakes that the Uintah Mountains provide; and the Book Cliff Mountains attract thousands of visitors and are located within short driving distances from County locations.

-Amenities in the area include an 18-hole golf course in Roosevelt City and Starvation Reservoir State Park near the City of Duchesne which contains 3,500 acres of fishing and boating.

-The Uintah and Ouray Indian Reservation lies within and adjacent to the County boundaries and makes up 19.76 percent of the land area. Important employers include government, agriculture, trucking and oil and natural gas drilling. Duchesne County residents and visitors enjoy a pleasant environment, abundant natural beauty, and numerous recreational opportunities.

Duchesne Chevron/Burger King History| 10

HistoryHumans have occupied the Uintah Basin for many centuries. The first known and identified group in the region was the Fremont Indians. Rock paintings and archeological evidence of early Native American cultures are common. The rock art in Nine Mile Canyon represents some of the finest in the world. Every year, dozens of scholars and thousands of tourists travel to the area to study, photograph, and marvel.

Native Americans Early Settlement 20th Century Present History-Humans have occupied the Uintah Basin for many centuries. The first known and identified group in the region was the Fremont Indians. Rock paintings and archeological evidence of early Native American cultures are common. The rock art in Nine Mile Canyon represents some of the finest in the world. Every year, dozens of scholars and thousands of tourists travel to the area to study, photograph, and marvel. -Fremont Indian State Park in the Clear Creek Canyon area in Sevier County Utah contains the biggest Fremont culture site in Utah. Thousand-year-old pit houses, petroglyphs, and other Fremont artifacts were discovered at Range Creek, Utah. Nearby Nine Mile Canyon has long been known for its large collection of Fremont rock art. Other sites are found in The San Rafael Swell, Capitol Reef National Park, Dinosaur National Monument, Zion National Park, and Arches National Park.

-The first historical record of the region comes from the Dominguez/Escalante Expedition who traversed the area in 1776. The next recorded entries of the Uintah Basin were from the mountain men and fur traders as early as 1824. Prior to 1847, most of the non-Indians who came to the region did so to trap and trade with the Indians and then traveled on. -In 1861 President Abraham Lincoln issued an executive order establishing the Uintah Indian Reservation. This order set aside the drainage of the then-named Uinta River, presently referred to as the Duchesne River, as the UintahReservation. After a few years, the United States Government determined that a fort was needed to establish a military presence in the region. Fort Duchesne was completed in 1886. A supply route through Nine Mile Canyon to the railroad in Price was built in 1886 by the Buffalo Soldiers of the 9th Cavalry Regiment. This route was so heavily used that for twenty years it was aptly named the "Lifeline of the Uintah Basin." Millions of pounds of freight and thousands of travelers and settlers used the road between 1886 and the early 1900's.

-With the opening of the Uintah Basin in 1905, to homesteading thousands of hopeful settlers looked to former reservation lands for a new start in life. Over the next several years, hundreds of homesteaders claimed and settled on land located mostly in Duchesne County. Soon after, several communities were established. In 1915, Duchesne County was formed from the Eastern side of Wasatch County and Duchesne was voted in the as the county seat. -Close examination of the living conditions of early Duchesne County residents from 1915 to the end of the Depression show very little improvement or significant change. In the summer of 1933, several government-based work assistance projects were started in the County. The post-war era, known nationally as a period of economic growth, saw little improvement for County residents in the 1950's and 60's. -Not since the opening of the reservation to homesteading was there such a radical change in Duchesne County demographics as that which was triggered by the 1970's oil boom. Throughout the West, "boom" cycles in extractive industries are often followed by "busts". Duchesne County's experience was no different.

-A period of unprecedented growth and prosperity was followed by a bust in the oil-related job market in 2008. After that bust, another boom commenced in 2011 and brought the county population to over 20,000. This boom lasted until a dramatic drop in oil prices in early 2015. Climbing oil prices in early 2017 offer a glimmer of hope for the future of the energy industry in Duchesne County. -Today extractive-use industries: livestock, timber, mining, and oil; remain the backbone of the region's economy. The County continues to encourage and support these industries, acknowledging the industry patterns, fluctuating markets, and changing political winds predict good times followed by lean.-At present, Duchesne County is growing and, with an eye to the future. Trying to meet the challenges of a new century with planning and preparation.

Duchesne Chevron/Burger King Attractions | 11

Desirable Attractions-Federal, state, county, and even private lands offer a broad range of recreational opportunities, including camping, hiking, fishing, hunting, horseback riding, biking, nature appreciation, interpretive trips, wildlife watching, boating, and other tourism-related activities. Public lands also support businesses that offer such opportunities to the public, including outfitters and guides, whitewater rafting, outdoor camps, wilderness/survival schools, and dude ranches. A variety of recreational opportunities and experiences are available for residents and visitors alike to enjoy in Duchesne County. The Uinta Mountains have more than 1,000 natural lakes and small streams, over half of which support populations of game fish. These mountains contain Utah’s largest designated wilderness area and highest peak (Kings Peak). Many of the trailheads in this beautiful backcountry are within a 90-minute drive from Salt Lake City (State of Utah, 2013). High desert landscapes provide unparalleled vistas and opportunities for OHV use, hunting, and other recreational pursuits.

Starvation State Park-The 3,500-acre Starvation Reservoir is open ear-round, and is popular for fishing and boating. It lies at an elevation of 5,712 feet. Established in 1972, the marina features a 54-unit RV campground along with developed and primitive camping, rental cabins, boat ramp and dock, a sand beach, restrooms, showers, a group-use pavilion, sewage disposal, and fish cleaning stations.[3] Primitive camping is allowed in designated areas around the perimeter of the reservoir for a fee. OHVs are only allowed at Knight Hollow Campground. -Boating, skiing, wake boarding and other sports are popular at Starvation Reservoir State Park. The reservoir offers sandy beaches plus good fishing for walleye and some action for trout and perch. The park here offers a very nice developed campground. ATV and other off-highway vehicles are allowed on some trails in the area and Starvation makes a great base camp for those activities.

Uinta Mountains-The Uinta Mountains extend for 100 miles across northeast Utah and a small part of northwest Colorado, bordered by the Wasatch Range to the west, the Uinta Basin to the south, the Green River to the east and other mountains to the north, in Wyoming. Although relatively compact, with a long, narrow ridgeline, the mountains are notable for containing the highest summit in the state (13,528 foot King's Peak), for having an unusually large area of land above the treeline, for being one of the few US ranges aligned east-west rather than north-south, and for the great number of lakes, over 2,000. One of the most beautiful of such areas, relatively easily reached, is Naturalist Basin. -Most visitation is confined to a narrow corridor towards the west of the mountains, along Mirror Lake Highway, UT 150, the only route across the crest, and also the highest paved road in Utah; along here are many campsites, picnic areas, viewpoints and trailheads. Apart from this there are several dozen other major trailheads, at the end of narrow, dead end, mostly unpaved roads, approaching from the south or the north, but from these, the high country is anything from 10 to 20 miles away, so most places need overnight trips to reach.

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Duchesne Chevron/Burger King Pictures| 13

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Demographic Charts

Duchesne Chevron/Burger King Demographics | 15

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 1,256 1,735 1,989

2010 Population 1,348 1,905 2,215

2020 Population 1,454 2,052 2,377

2025 Population 1,508 2,127 2,464

2020 African American 7 12 14

2020 American Indian 11 17 21

2020 Asian 5 8 9

2020 Hispanic 89 127 147

2020 Other Race 49 71 82

2020 White 1,356 1,908 2,208

2020 Multiracial 24 34 40

2020-2025: Population: Growth Rate 3.65 % 3.60 % 3.60 %

2020 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 54 67 78

$15,000-$24,999 34 42 50

$25,000-$34,999 35 45 53

$35,000-$49,999 85 108 128

$50,000-$74,999 100 126 150

$75,000-$99,999 77 99 120

$100,000-$149,999 76 96 114

$150,000-$199,999 19 25 29

$200,000 or greater 10 13 15

Median HH Income $56,955 $57,292 $57,551

Average HH Income $70,244 $70,728 $70,830

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 497 634 804

2010 Total Households 453 575 687



2020 Average Household Size 2.83 3.13 3.04

2000 Owner Occupied Housing 315 399 474

2000 Renter Occupied Housing 104 127 141



2020 Vacant Housing 96 155 304

2020 Total Housing 586 775 1,042



2025 Vacant Housing 113 178 340

2025 Total Housing 622 822 1,106

2020-2025: Households: Growth Rate 3.80 % 3.80 % 3.75 %

Duchesne Chevron/Burger King Demographics | 16

2020 POPULATION BY AGE 1 MILE 3 MILE 5 MILE 2025 POPULATION BY AGE 1 MILE 3 MILE 5 MILE

2020 Population Age 30-34 108 152 174 2025 Population Age 30-34 100 144 167











2020 Population Age 85+ 12 15 17 2025 Population Age 85+ 13 16 19

2020 Population Age 18+ 979 1,391 1,619 2025 Population Age 18+ 1,012 1,441 1,679

2020 Median Age 31 32 32 2025 Median Age 32 33 33

2020 INCOME BY AGE 1 MILE 3 MILE 5 MILE 2025 INCOME BY AGE 1 MILE 3 MILE 5 MILE

Median Household Income 25-34 $62,133 $62,203 $63,175 Median Household Income 25-34 $67,833 $68,335 $70,318

Average Household Income 25-34 $74,305 $74,555 $74,906 Average Household Income 25-34 $82,364 $83,150 $83,747









Average Household Income 75+ $45,353 $45,383 $45,628 Average Household Income 75+ $52,308 $52,239 $52,331

Duchesne Chevron/Burger King Demographic Charts | 17

1 Mile Radius 3 Mile Radius 5 Mile Radius

2020 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2020 Population by Race

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2020 Household Occupancy - 1 Mile Radius

Average Income Median Income

2020 Household Income Average and Median

Duchesne Chevron/Burger King

Exclusively Marketed by:

powered by CREOP

Trenton BrightAssociate Broker(435) [email protected] Lic: 7961776-AB00

Eric GerardiSales Agent(385) [email protected] Lic: 10217079-SA00



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