2000 S Commercial Ave, Coleman, TX 76834 200 Main Ave ... · and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent

www.MarcusMillichap.comNET LEASED RETAILO F M A R C U S & M I L L I C H A P

2000 S Commercial Ave, Coleman, TX 76834

200 Main Ave, Gruver, TX 79040

ABSOLUTE NET LEASES | 75 UNIT OPERATOR

Representative Photo

JOSEPH BLATNER / (503) 200-2029 [email protected]

SCOTT LOGAN / (503) 200-2023 [email protected]

:: NetLeasedRetail.com

T W O D A I RY Q U E E N L O C AT I O N STEXAS

DAIRY QUEEN - TWO TEXAS LOCATIONS :: 2

LEGAL DISCLAIMER

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial

advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

The information contained in this Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DAIRY QUEEN - COLEMAN, TX :: 3

INVESTMENT OVERVIEW

PRICE

$622,285

S I N G L E T E N A N T

ABSOLUTE NET LEASE C O L E M A N , T X

CAP

7.00%

NET OPERATING INCOME . . . $43,560

LEASE TYPE . . . Absolute Net

LEASE COMMENCEMENT . . . 4/1/2007

LEASE EXPIRATION DATE . . . 3/30/2027

INCREASES . . . 10% Every 5 Years

OPTIONS . . . (4) Five Year Options

GUARANTOR . . . .Vasari LLC

YEAR BUILT . . . 1975

LOT SIZE . . . 28,000 SF

BUILDING SIZE . . . 2,500 SF


Offering includes both properties; however, seller is willing to review offers for individual assets.

Coleman, TX


Developed in 1975, the property is located

on S Commercial Ave/Hwy 206, the main

arterial running north/south through Coleman

with daily traffic counts of 7,500 vehicles. The

property has had many improvements made

over the past 10 years, both to the exterior

and interior of the location.

: : EXCELLENT ACCESS & VISIBILITY

:: SOLID GUARANTEE

INVESTMENT DETAILS

BUSY S COMMERCIAL AVE

LOCATION

STRONG

OPERATOR

There are 9+ years remaining on the original

20-year absolute net lease, which allows

for a passive investment with no landlord

responsibilities. The lease calls for 10%

increases in rent every 5 years during the

primary lease as well as the options.

: : ZERO LANDLORD RESPONSIBILITIES

9+ YEARS REMAINING ON ABSOLUTE NET LEASE

Lease backed by Vasari LLC, a successful

and established Dairy Queen franchisee with

75 locations in Texas, Oklahoma, and New

Mexico. Vasari is the second largest franchisee

in the Dairy Queen system and the largest

franchisee in Texas.


Coleman, TX


R E N T R O L L

DAIRY QUEEN 2,500 SF 3/31/2007 3/30/2027 $43,560 3/31/2022 $47,916

(4) 5 Year Options

with 10% rental

increases

ABSOLUTE

NET

TENANT INFO

NAME SQUARE FEET

LEASE TERMS

COMMENCEMENT EXPIRATION

CURRENT RENT

ANNUAL BASE RENT

RENT INCREASES

DATE OPTIONSANNUAL RENT TYPE

LEASE

Representative Photos

Coleman, TX


DENSE POPULATION

SURROUNDING PROPERTY

Parcel outline not exact, buyer must verify * Costar 2016

206

COLEMAN HIGH SCHOOL

COOPER SUPPLY

BEST FRIED CHICKEN

7,50

0 C

ARS

DA

ILY*

SANTA ANNA AVE

S CO

MM

ERCI

AL A

VE

A R E A M A P

Coleman, TX


C O L E M A N , T X

COLEMAN

SAN ANTONIO

AUSTIN

FORT WORTH DALLAS

HOUSTON

Coleman, Texas is the county seat for Coleman County and is

considered to be the hunting and fishing capital of Texas and

home to the Annual PRCA Rodeo.

:: GEOGRAPHY

Coleman lies on U.S. 84, a segment of the Ports to Plains

Highway connecting the state’s heartland to coastal ports.

Coleman is richest of all in its abundance of water. The

community is surrounded by six major Lakes. Lake O.H. Ivie

is currently the hottest black bass fishing lake in Texas.

:: NATURAL RESOURCES & ECONOMY

Coleman, Texas is rich in natural resources which have given

life to a diversified economy based on farming, ranching,

coal, oil and gas production and high-grade glass sand from

Santa Anna Mountain eight miles southeast of the city.

Manufacturing plants in Coleman produce a variety of quality

products for Texas and the nation. A sampling includes

saddles, boots, heavy duty truck and recreational vehicles,

grill guards, leather goods, archery products and plastic

fabrication. With production active in all sections of the

county, oil and gas ranks with ranching as one of Coleman’s

most prominent industries.

A B O U T

Coleman , T XHOUSEHOLD INCOME

2016 AVERAGE

2016 MEDIAN

POPULATION

2010

2016

2021

1 Mile 3 Miles 5 Miles

$42,745 $41,866 $42,837

$31,583 $30,529 $30,818


2,804 5,184 5,556

2,508 4,525 4,825

2,463 4,411 4,710

Demos

DAIRY QUEEN - GRUVER, TX :: 8

INVESTMENT OVERVIEW

PRICE

$363,000

S I N G L E T E N A N T

ABSOLUTE NET LEASE G R U V E R , T X

CAP

7.00%

NET OPERATING INCOME . . . $25,410

LEASE TYPE . . . Absolute Net

LEASE COMMENCEMENT . . . 1/1/2006

LEASE EXPIRATION DATE . . . 12/31/2025

INCREASES . . . 10% Every 5 Years

OPTIONS . . . (4) Five Year Options

GUARANTOR . . . .Vasari LLC

YEAR BUILT . . . 1975 / 1993

LOT SIZE . . . 27,500 SF

BUILDING SIZE . . . 1,100 SF


Offering includes both properties; however, seller is willing to review offers for individual assets.

Gruver , TX


Developed in 1975, the property is located

on Main Ave, the main arterial running north/

south through Gruver.

The property also benefits from its corner

location, with points of entry from two roads.

The property has had many improvements

made over the past 10 years, both to the

exterior and interior of the location.

: : EXCELLENT ACCESS & VISIBILITY

:: SOLID GUARANTEE

INVESTMENT DETAILS

BUSY MAIN AVE

LOCATION

STRONG

OPERATOR

There are 8+ years remaining on the original

20-year absolute net lease, which allows

for a passive investment with no landlord

responsibilities.

The lease calls for 10% increases in rent

every 5 years during the primary lease as well

as the options.

:: ZERO LANDLORD RESPONSIBILITIES

8+ YEARS REMAINING ON ABSOLUTE NET LEASE

Lease backed by Vasari LLC, a successful

and established Dairy Queen franchisee with

75 locations in Texas, Oklahoma, and New

Mexico. Vasari is the second largest franchisee

in the Dairy Queen system and the largest

franchisee in Texas. Vasari is the second

largest franchisee in the Dairy Queen system

and the largest franchisee in Texas.


Gruver , TX


R E N T R O L L

DAIRY QUEEN 1,100 SF 1/1/2006 12/31/2025 $25,410 1/1/2021 $27,951

(4) 5 Year Options

with 10% rental

increases

ABSOLUTE

NET

TENANT INFO

NAME SQUARE FEET

LEASE TERMS

COMMENCEMENT EXPIRATION

CURRENT RENT

ANNUAL BASE RENT

RENT INCREASES

DATE OPTIONSANNUAL RENT TYPE

LEASE

Representative Photos

Gruver , TX


Parcel outline not exact, buyer must verify * Costar 2016

15

GRUVER HIGH SCHOOL

N 1ST ST

W BROADWAY ST

MAI

N A

VE

A R E A M A P

Gruver , TX


G R U V E R , T X

GRUVER OKLAHOMA CITY

FORT WORTH

AMARILLO

DALLAS

HOUSTON

Gruver is on State Highway 15 and the Chicago, Rock Island

and Pacific Railroad in central Hansford County. The town was

named for Joseph Hezkiah Gruver and his son, Lawrence, who

around 1907 established a ranch nine miles west of what is now

the townsite.

About 1925 Gruver became a wheat and small-grain farming

center. Gruver incorporated in 1930, when it had a population

of 650 and thirty-two businesses. In 1990 it reported a

population of 1,172.

A B O U T

Gruve r , T XHOUSEHOLD INCOME

2016 AVERAGE

2016 MEDIAN

POPULATION

2010

2016

2021


$73,012 $72,709 $72,635

$60,089 $59,919 $59,875


1,194 1,357 1,391

1,173 1,334 1,367

1,157 1,311 1,343

Demos

$ 7 3 , 0 0 0 + AV G

H O U S E H O L D

I N C O M E S

:: WITHIN 1-MILE RADIUS

DAIRY QUEEN - TWO TEXAS LOCATIONS :: 13

T E N A N T O V E R V I E WT E N A N T O V E R V I E W

American Dairy Queen Corporation is a subsidiary of Berkshire Hathaway, Inc. The first DQ restaurant was located in Joliet, Illinois. It was operated by Sherb Noble and opened in 1940.

By 1955 there were 2,600 Dairy Queen stores in operation. Today, the DQ® system is one of the largest fast food systems in the world, with more than 6,000 restaurants in the United States, Canada and 18 other countries.

Dairy Queen has become a staple and icon of small-town America, as it’s often seen as a fixture of social life in these towns.

ABOUT DAIRY QUEEN ABOUT THE OPERATOR

6,000 LOCATIONS in 20 COUNTRIES

$2 BILLION

2016 REVENUE

The lease is backed by Vasari LLC, a successful and established Dairy Queen franchisee with 75 locations in Texas, Oklahoma, and New Mexico.

Vasari is the second largest franchisee in the Dairy Queen system and the largest franchisee in Texas.

www.MarcusMillichap.comNET LEASED RETAILO F M A R C U S & M I L L I C H A P

JOSEPH BLATNER / (503) 200-2029 [email protected]

SCOTT LOGAN / (503) 200-2023 [email protected]

:: NetLeasedRetail.com

T W O D A I RY Q U E E N L O C AT I O N STEXAS


Documents

2000 S Commercial Ave, Coleman, TX 76834 200 Main Ave ... · and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent