freestanding taco bell - naples, fl presented by: …...country’s most desirable cities; naples,...
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FREESTANDING TACO BELL - NAPLES, FL9000 SAGE AVE, NAPLES, FL 34120OFFERING MEMORANDUM
PRESENTED BY:
trinitycre.com9250 Corkscrew Rd | Suite 13 | Estero, FL 33928
© 2018 Trinity Commercial Group, Inc.This information is considered accurate, but not guaranteed.
CONTACT INFORMATION
MATT FREDRICKSONPrincipal | Investment [email protected]
TABLE OF CONTENTS
EXECUTIVE SUMMARY
AERIALS
RENDERINGS
MARKET OVERVIEW
03061214
EXECUTIVE SUMMARY
OFFERINGPROPERTY OVERVIEW: Trinity Commercial Group, Inc. and its advisors are pleased to exclusively present the opportunity for qualified investors to acquire an irreplaceable NNN Taco Bell located in Naples, FL. This property opportunity offers investors the opportunity to invest in a brand new, free standing Taco Bell, secured by a long term 20 year NNN ground lease. This location offers not only the strength of a long term lease, but the credit and experience of a long time Taco Bell franchisee in Coastal QSR. Coastal QSR operates a high quality portfolio of Taco Bell locations throughout the state of Florida and are recognized as one of the top operating partners in the country consistently driving above average revenue and results. They are a wholly owned subsidiary of private equity firm Prometheus Partners and are continuing to expand their portfolio and store count. In addition to the long term lease commitment made by the tenant, investors can also find confidence in the financial commitment being made by Coastal QSR. The ground lease structure allows for added security due to the capital required by the tenant to develop and construct their prototype building along with all horizontal and soft costs that come with it. With the building scheduled to be completed by October, 2018 and a purchase price at just over $2M, this opportunity offers a qualified investor a phenomenally secure option for their potential 1031 exchange. The subject site provides investors with a secure investment in one of the Country’s most desirable cities; Naples, FL. Naples was recently named the happiest and healthiest city in the country for the second year in a row and boasts the second highest millionaires per capita in the entire country. In addition to the intrinsic value of owning real estate in Naples; this location is situated at the epicenter of commercial growth and development in Collier County. With massive commercial and residential development in process or planned for 3 out of 4 commercial corners, this property is poised to strengthen its inherent value over the next couple years.
PURCHASE PRICE: $2,042,105
CAP RATE: 4.75%
LEASE TYPE: GROUND LEASE
GUARANTOR: COASTAL QSR
LEASE COMMENCEMENT: NOVEMBER 1, 2018 – EXPECTED
LEASE EXPIRATION: OCTOBER 31, 2038
ANNUAL RENT (NOI): $97,000/YR
INCREASES: 10% EVERY 5 YEARS THROUGHOUT BASE TERM AND OPTIONS
OPTIONS: FOUR (5) YEAR OPTIONS TO EXTEND
LL RESPONSIBILITIES: NONE
PROPERTY LOCATION: 9000 SAGE AVE, NAPLES, FL 34120
BUILDING SIZE: 1,940 SF UNDER AIR + 240 SF PATIO
LAND SIZE: 0.63± AC (27,274± SF) - Including off-site retention and access easements
YEAR BUILT: 2018 (UNDER CONSTRUCTION)
HIGHLIGHTS:
• Highly desirable Naples, FL real estate• Long term 20 year ground lease with increases every 5 years• Strong operating partner with locations throughout FL in Coastal QSR• Below market rent starting at $97,000/year• Long term intrinsic value• Located in the fastest growing trade area in Collier County• Completely NNN passive investment
UNDER CONSTRUCTION
The subject property sits at what is currently the hottest trade area in all of Collier County. Recently added retailers to the corner include Race Trac, Goodwill, Chase Bank, Verizon Wireless, Starbucks’s, The Warehouse Cuisine, Pelican Larry’s, Tropical Smoothie Cafe and Culver’s. Additionally, a brand new 128 unit luxury senior living community is currently under construction known as Watercrest Naples. Watercrest will provide both Assisted Living and Memory Care and is scheduled for completion Spring of 2019. Following the demand for more luxury multi-family communities in Naples; Addison Place is currently under construction on the Northwest corner of the trade area which will include 240 luxury rental units in addition to further commercial out parcels, a proposed shopping center and plans for additional rental and single family homes.
The Immokalee and 951 trade area has a long history of being an extremely tight commercial market driven by one of the highest volume Publix centers in Southwest, FL. In addition to the Publix there is over 50,000 sf of shadow commercial space that has historically been over 95% leased at any given time. Additional retailers here include Walgreens, Wells Fargo, Bank of America, SunTrust Bank, McDonald’s, Physicians Regional, BB&T Bank and more. Rounding out the commercial trade area is the Southeast corner which is currently under contract and will transform the intersection over the next five years. With possible plans for another 400 units of luxury multi-family as well as 150,000+ sf of commercial space; this intersection is poised to continue to add traffic for the foreseeable future.
THE REAL ESTATEFROM GREAT TO IRREPLACEABLE
40,000± VPD
UNDER CONSTRUCTION100± ALF UNITS
IMMOKALEE RD
FUTURE CAR WASH
UNDER CONSTRUCTION100± ALF UNITS
IMMOKALEE RD
FUTURE CAR WASH
UNDER CONTRACTCommercial/Residential
Development
UNDER CONSTRUCTION100± ALF UNITS
IMM
OKALEE RD
FUTURE CAR WASH
UNDER CONTRACTCommercial/Residential
Development
UNDER CONSTRUCTION100± ALF UNITS
IMM
OK
ALE
E RD
FUTURE CAR WASH
UNDER CONTRACTCommercial/Residential
Development
COLLIER BLVD (SR 951)
FUTURE COMMERCIAL
FUTURE RESIDENTIAL
UNDER CONSTRUCTIONMULTI-FAMILY
27,500± VPD
40,0
00±
VPD
40,000± VPD
40,000± VPD
SOUTHWEST, FLORIDA
6
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Sheet No.Drawn by:Designed by:
Approved by:Checked by:
KMUKMUDPMDPM
Date:Job No.File:CONCEPT
Z658208/16
Scale: 1" = 60'2016C
CONCEPT PLAN
THE FERBER CMPANY, INC.
NAPLES / COLLIER COUNTY / FLORIDA
Offices In: Florida Puerto Rico Connecticut Maryland
3277A Fruitville Rd., Suite 2Sarasota, FL 34237
Ph: 941.365.4771Licenses:
Eng. C.O.A. No. 3215Survey L.B. No. 7143
Arch. Lic. No. AA2600926Lndscp. Lic. No. LC0000298
CPH, Inc.
N
1200 60
THE FERBERCOMPANY, INC
PARKING INFORMATION:
SITE DATA:SITE AREA = 2.77± A.C.ONSITE ZONING = 10 (COMMERCIAL)ONSITE LAND USE = 10 (VACANT COMMERCIAL)
FLOOD ZONE AE
SURROUNDING PARCEL ZONING/ LAND USE
FLOOD ZONE
SOUTH= RIGHT - OF - WAY
NORTH= 94 (RIGHT - OF - WAY)WEST= 10 (VACANT COMMERCIAL)EAST= 10 (VACANT COMMERCIAL)
FAST FOOD:PARKING REQUIRED PER CITY CODE:
PARKING PROVIDED:
1 PER 100 SQUARE FEET. A STACKING AREA OF 10 VEHICLESFOR THE FIRST DRIVE-THROUGH LANE AND 7 FOR ANYADDITIONAL DRIVE-THROUGH LANES.
TACO BELL: 2,105 S.F. / 100 = 22 SPACES
POLLO TROPICAL: 3,642 S.F. / 100 = 37 SPACES
CULVER'S: 3,954 S.F. / 100 = 40 SPACESTOTAL = 99 SPACES PROVIDED
UNDER CONSTRUCTION100± ALF UNITS
COLLIER BLVD
(SR 951) 27,500± VPD
40,000± VPD IMMOKALEE RD
FUTURE COMMERCIAL
FUTURE RESIDENTIAL
UNDER CONSTRUCTIONMULTI-FAMILY
GO
OD
LAN
D BAY D
RBELLAIRE BAY DR
PROPOSED COLLIER BLVD EXTENSION TO
BONITA BEACH RD
UNDER CONTRACTCommercial/Residential
Development
FUTURE CAR WASH
6
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O B
ELL
RE
STA
UR
AN
TBL
DG
AR
EA =
2,1
05±
S.F.
PO
LLO
TR
OP
ICA
L R
ES
TAU
RA
NT
BLD
G A
REA
= ±
3,6
42 S
.F.
10
7
10
7
77
77
77
57
5
Sheet No.Drawn by:Designed by:
Approved by:Checked by:
KMUKMUDPMDPM
Date:Job No.File:CONCEPT
Z658208/16
Scale: 1" = 60'2016C
CONCEPT PLAN
THE FERBER CMPANY, INC.
NAPLES / COLLIER COUNTY / FLORIDA
Offices In: Florida Puerto Rico Connecticut Maryland
3277A Fruitville Rd., Suite 2Sarasota, FL 34237
Ph: 941.365.4771Licenses:
Eng. C.O.A. No. 3215Survey L.B. No. 7143
Arch. Lic. No. AA2600926Lndscp. Lic. No. LC0000298
CPH, Inc.
N
1200 60
THE FERBERCOMPANY, INC
PARKING INFORMATION:
SITE DATA:SITE AREA = 2.77± A.C.ONSITE ZONING = 10 (COMMERCIAL)ONSITE LAND USE = 10 (VACANT COMMERCIAL)
FLOOD ZONE AE
SURROUNDING PARCEL ZONING/ LAND USE
FLOOD ZONE
SOUTH= RIGHT - OF - WAY
NORTH= 94 (RIGHT - OF - WAY)WEST= 10 (VACANT COMMERCIAL)EAST= 10 (VACANT COMMERCIAL)
FAST FOOD:PARKING REQUIRED PER CITY CODE:
PARKING PROVIDED:
1 PER 100 SQUARE FEET. A STACKING AREA OF 10 VEHICLESFOR THE FIRST DRIVE-THROUGH LANE AND 7 FOR ANYADDITIONAL DRIVE-THROUGH LANES.
TACO BELL: 2,105 S.F. / 100 = 22 SPACES
POLLO TROPICAL: 3,642 S.F. / 100 = 37 SPACES
CULVER'S: 3,954 S.F. / 100 = 40 SPACESTOTAL = 99 SPACES PROVIDED
UNDER CONSTRUCTION100± ALF UNITS
IMMOKALEE RD
FUTURE CAR WASH
UNDER CONTRACTCommercial/Residential
Development
9250 Corkscrew Rd | Suite 13 | Estero, FL 33928© 2016 Trinity Commercial Group, Inc.
This information is considered accurate, but not guaranteed.trinitycre.com
195± UNITS PARKLAND
618± UNITS STONE CREEK
291± UNITS QUAIL CREEK
802± UNITS RIVERSTONE
1,121± UNITS ESPLANADE
310± UNITS THE QUARRY 1,400± UNITS
HERITAGE BAY
225± UNITS TWIN EAGLES
10,000± UNITS AVE MARIA
(20± MI FROM I-75)
565± UNITS LONGSHORE
LAKE
250± UNITS OLDE CYPRESS
306± UNITS AMBERTON
GL HOMESOWNED LAND
356± UNITS MALIBU LAKES
550± UNITS GOLF CLUB OF EVERGLADES
325± UNITS LAMORADA
450± UNITS BENT CREEK
166± UNITS TUSCANY POINTE
126± UNITS BRISTOL
PINES
108± UNITS CANOPY
90± UNITS BUCKS RUN
370± UNITS IBIS COVE
500± UNITS KEY ROYAL
115± UNITS LAUREL LAKES890± UNITS
INDIGO LAKES
392± UNITS BRITTANY BAY
450± UNITS SUMMIT PLACE
3,401± UNITS ISLAND WALK
198± UNITS FALLS OF
PORTOFINO
34,500± AADT40,500± AADT
26,500± AA
DT
85,5
00±
AA
DT
30,500± AADT
proposed 951 extension
future logan blvd extension
Bonita Beach Rd PLANNED DEVELOPMENT
ORANGE BLOSSOM DRI
1,480± UNITSBONITA
NATIONAL 1,000± UNITS GL HOMES
760± UNITS VILLAGE WALK
470± UNITS PALMIRA
120± UNITS WORTHINGTON
766± UNITS QUAIL WEST
550± UNITSHUNTERS
RIDGE
320± UNITS ORANGE BLOSSOM
RANCH
800± UNITS VALENCIA GOLF &
COUNTRY CLUB
PALMETTO RIDGE HIGH SCHOOL
2,000± ENROLLED
NORTH NAPLES RESIDENTIAL GROWTH
RURAL LANDS WEST DEVELOPMENT
10,000 UNITS & 1.9M SF OF COMMERCIAL
9250 Corkscrew Rd | Suite 13 | Estero, FL 33928© 2016 Trinity Commercial Group, Inc.
This information is considered accurate, but not guaranteed.trinitycre.com
195± UNITS PARKLAND
618± UNITS STONE CREEK
291± UNITS QUAIL CREEK
802± UNITS RIVERSTONE
1,121± UNITS ESPLANADE
310± UNITS THE QUARRY 1,400± UNITS
HERITAGE BAY
225± UNITS TWIN EAGLES
10,000± UNITS AVE MARIA
(20± MI FROM I-75)
565± UNITS LONGSHORE
LAKE
250± UNITS OLDE CYPRESS
306± UNITS AMBERTON
GL HOMESOWNED LAND
356± UNITS MALIBU LAKES
550± UNITS GOLF CLUB OF EVERGLADES
325± UNITS LAMORADA
450± UNITS BENT CREEK
166± UNITS TUSCANY POINTE
126± UNITS BRISTOL
PINES
108± UNITS CANOPY
90± UNITS BUCKS RUN
370± UNITS IBIS COVE
500± UNITS KEY ROYAL
115± UNITS LAUREL LAKES890± UNITS
INDIGO LAKES
392± UNITS BRITTANY BAY
450± UNITS SUMMIT PLACE
3,401± UNITS ISLAND WALK
198± UNITS FALLS OF
PORTOFINO
34,500± AADT40,500± AADT
26,500± AA
DT
85,5
00±
AA
DT
30,500± AADT
proposed 951 extension
future logan blvd extension
Bonita Beach Rd PLANNED DEVELOPMENT
ORANGE BLOSSOM DRI
1,480± UNITSBONITA
NATIONAL 1,000± UNITS GL HOMES
760± UNITS VILLAGE WALK
470± UNITS PALMIRA
120± UNITS WORTHINGTON
766± UNITS QUAIL WEST
550± UNITSHUNTERS
RIDGE
320± UNITS ORANGE BLOSSOM
RANCH
800± UNITS VALENCIA GOLF &
COUNTRY CLUB
PALMETTO RIDGE HIGH SCHOOL
2,000± ENROLLED
SITEPLAN
SITE PLAN
EAST ELEVATION
SOUTH ELEVATION
WEST ELEVATION
NORTH ELEVATION
TACO BELL
TACO BELL
TACO BELL
EAST ELEVATION
SOUTH ELEVATION
WEST ELEVATION
NORTH ELEVATION
TACO BELL
TACO BELL
TACO BELL
EAST ELEVATION
SOUTH ELEVATION
WEST ELEVATION
NORTH ELEVATION
TACO BELL
TACO BELL
TACO BELL
EAST ELEVATION
SOUTH ELEVATION
WEST ELEVATION
NORTH ELEVATION
TACO BELL
TACO BELL
TACO BELL
RENDERINGS
Demographic Source: Applied Geographic Solutions 04/2018, TIGER Geography page 1 of 1©2018, Sites USA, Chandler, Arizona, 480-491-1112
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SUMMARY PROFILE2000-2010 Census, 2018 Estimates with 2023 ProjectionsCalculated using Weighted Block Centroid from Block Groups
Lat/Lon: 26.2739/-81.6835RS1
CAMERON COMMONS1 mi radius 3 mi radius 5 mi radius
Naples, FL 34120
PO
PU
LATI
ON
2018 Estimated Population 4,623 28,705 70,272
2023 Projected Population 5,067 31,268 76,838
2010 Census Population 3,403 19,179 53,473
2000 Census Population 1,004 5,449 26,662
Projected Annual Growth 2018 to 2023 1.9% 1.8% 1.9%
Historical Annual Growth 2000 to 2018 20.0% 23.7% 9.1%
2018 Median Age 42.4 46.3 49.3
HO
US
EH
OLD
S
2018 Estimated Households 1,821 11,918 30,550
2023 Projected Households 1,943 12,627 32,313
2010 Census Households 1,309 7,601 22,350
2000 Census Households 351 2,083 10,188
Projected Annual Growth 2018 to 2023 1.3% 1.2% 1.2%
Historical Annual Growth 2000 to 2018 23.3% 26.2% 11.1%
RA
CE
AN
DE
THN
ICIT
Y
2018 Estimated White 85.6% 86.9% 88.7%
2018 Estimated Black or African American 6.5% 5.5% 4.5%
2018 Estimated Asian or Pacific Islander 2.5% 2.5% 2.1%
2018 Estimated American Indian or Native Alaskan 0.2% 0.1% 0.2%
2018 Estimated Other Races 5.3% 4.9% 4.4%
2018 Estimated Hispanic 26.1% 21.6% 20.4%
INC
OM
E 2018 Estimated Average Household Income $107,333 $109,835 $106,911
2018 Estimated Median Household Income $81,176 $86,737 $82,929
2018 Estimated Per Capita Income $42,289 $45,603 $46,489
ED
UC
ATI
ON
(AG
E 2
5+)
2018 Estimated Elementary (Grade Level 0 to 8) 5.1% 3.2% 2.5%
2018 Estimated Some High School (Grade Level 9 to 11) 5.9% 5.1% 4.5%
2018 Estimated High School Graduate 28.4% 25.4% 24.8%
2018 Estimated Some College 16.8% 17.2% 18.6%
2018 Estimated Associates Degree Only 10.0% 10.9% 9.6%
2018 Estimated Bachelors Degree Only 20.0% 21.9% 24.0%
2018 Estimated Graduate Degree 13.9% 16.2% 16.0%
BU
SIN
ES
S 2018 Estimated Total Businesses 141 628 1,760
2018 Estimated Total Employees 1,051 4,739 14,645
2018 Estimated Employee Population per Business 7.5 7.5 8.3
2018 Estimated Residential Population per Business 32.8 45.7 39.9
2018DEMOGRAPHICS
MARKETOVERVIEW
Definitions of Southwest Florida vary, though its boundaries are generally considered to put it south of the Tampa Bay area, west of Lake Okeechobee, and mostly north of the Everglades and to include Manatee, Sarasota, Charlotte, Lee, and Collier counties. For some purposes, the inland counties of DeSoto, Glades, and Hendry, and the thinly populated mainland section Monroe County, south of Collier, are also included. The region includes four metropolitan areas: the North Port-Bradenton-Sarasota MSA (sometimes alternately considered a part of the Tampa Bay Area to the north), the Cape Coral-Fort Myers MSA, the Naples-Marco Island MSA, and the Punta Gorda MSA. Southwest Florida is one of the fastest-growing areas in the nation, according to the U.S. Census Bureau’s most recent population estimates.
Lee and Collier counties ranked in the top 10 of the nation’s fastest-growing metro areas based on population increases from July 2013 to July 2014. Census figures released today show Lee County added 18,177 people during that span, an increase of 2.7 percent, the sixth-largest increase in the country. Collier ranked No. 10 with an increase of 2.5 percent, adding an estimated 8,671 residents. The Census Bureau
estimated Lee’s population at 679,513 as of last July and 348,777 for Collier. If both counties grow at their same rates through July 2015 that would put Lee’s population at an estimated 697,860 and Collier’s at 357,496.
Southwest Florida was largely ignored by commercial developers until the late 1800s, and as such, lacks much of the heavier development present in other parts of Florida, such as that found in the central or southern regions of the state. In recent years however,
there has been a major real estate boom focusing on downtown Fort Myers (high-rise residential condominiums); southern Lee County (commercial development and high-technology); eastern Collier County (residential development); and eastern parts of Bradenton.
Southwest Florida International Airport, located in South Fort Myers, served over 7.9 million passengers in 2014 and offers non-stop flights to 3 cities in Europe and 2 in Canada, in addition to 36 domestic airports. The area’s secondary airport, Sarasota-Bradenton International Airport, served 2.9 million passengers in 2014. Southwest Florida is served by several major highways, including the Tamiami Trail (U.S. 41) and the Interstate 75 freeway, both of which connect the area to Tampa to the north, and Greater Miami–Ft. Lauderdale to the east. Tourism is a major economic driver in the area. In addition, many seasonal residents live in the area during the winter months, as temperatures in south Florida stay very moderate during that time of year.
SOUTHWEST FLORIDA
Naples, FL is the county seat of Collier County located 40 miles south of Fort Myers in the Southwest are of the State of Florida. Known for its idyllic white sand beaches, high end shopping and entertainment, slower and relaxed pace of life, Naples is consistently recognized as one of the best places to live in the country. The quality of life, weather and opportunity for a healthy lifestyle, Naples has attracted some of the wealthiest residents in the world to call the City their home.
Naples continues to be nationally ranked in areas from wealth to lifestyle and happiness. Naples is one of the wealthiest cities in the United States, with the sixth-highest per capita income in the country, and the second-highest proportion of millionaires per capita in the US. Additionally, Naples was recently recognized as the happiest and healthiest place to live 2 years running by a national Gallup ranking. With the desirable weather and lifestyle, Naples also comes with some of the highest priced real estate in the country. Naples was recently ranked in the top ten most expensive places to buy a home in the country. It isn’t a surprise that Naples has outpaced growth trends around the country. As of 2017, Naples population growth came in 40% higher than the rest of the State of Florida with that number projected to increase to 100% for the next few years.
Naples also features a number of cultural centers and organizations including The Naples Players, the Opera Naples, the Philharmonic Center for the Arts, the Philharmonic Orchestra and the Naples Jazz Orchestra.
CITY OF NAPLES“Happiest and Healthiest City” – Gallup Rankings“2nd Highest Millionaires Per Capita”
© 2018 Trinity Commercial Group, Inc.This information is considered accurate, but not guaranteed. TCG has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than TCG and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income,expenses, and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information herein is subject to change.
PRESENTED BY:
MATT FREDRICKSONInvestment Sales | [email protected] FL OFFICE
9250 Corkscrew RdSuite 13 Estero, FL 33928
P: 239.334.3040