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NET LEASED INVESTMENT GROUP Dairy Queen 500 W. Broadway Street, Denver City, TX 79323 CBCNetLeasedGroup.com $425,000 | 6.5% CAP Absolute NNN Lease 20 Year Lease (8 Remaining) 10% Rent Increase in 2020 during Primary Term Zero Landlord Responsibilities 70+ Unit Franchisee 1/2 Mile Away from Denver City High School NET LEASED INVESTMENT GROUP LUBBOCK OFFICE 4924 S. Loop 289 Lubbock, TX 79414 806.793.0888 Exclusively Offered By: RICK CANUP, CCIM CEO 806.784.3304 [email protected] ALEX EBERHARDT Investment Sales Specialist 806.784.3258 [email protected]

$425,000 | 6.5% CAPimages4.loopnet.com/d2/8l8trGynrlv4FHV-N6VF3FUZa... · depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and

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NET LEASED INVESTMENT GROUP

Dairy Queen500 W. Broadway Street, Denver City, TX 79323

CBCNetLeasedGroup.com

$425,000 | 6.5% CAP• Absolute NNN Lease

• 20 Year Lease (8 Remaining)

• 10% Rent Increase in 2020 duringPrimary Term

• Zero Landlord Responsibilities

• 70+ Unit Franchisee

• 1/2 Mile Away from Denver CityHigh School

NET LEASED INVESTMENT GROUPLUBBOCK OFFICE4924 S. Loop 289Lubbock, TX 79414806.793.0888

Exclusively Offered By: RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

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The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable.However, Coldwell Banker Commercial has not and will not verify any of this information, nor has Coldwell BankerCommercial conducted any investigation regarding these matters. Coldwell Banker Commercial makes no guarantee,warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a single / multi-tenant property, it is the Buyer’s responsibility to independently confirm the accuracyand completeness of all material information before completing any purchase. This Marketing Brochure is not asubstitute for your thorough due diligence investigation of this investment opportunity. Coldwell Banker Commercialexpressly 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 notrepresent the current or future performance of this property. The value of a single / multi-tenant property to youdepends 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 ofany single / multi-tenant property to determine to your satisfaction the suitability of the property for your needs. Likeall real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors mustrequest and carefully review all legal and financial documents related to the property and tenant. While the tenant’spast 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 beset 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 failto 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 responsiblefor conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of anylongterm lease, including the likelihood of locating a replacement tenant if the current tenant should default orabandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenantconsidering 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 Coldwell Banker Commercial and hold it harmless from anykind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this single-tenant property.

Table Of ContentsNET LEASED INVESTMENT GROUP

CBCNetLeasedGroup.com Exclusively Offered By:

CONTENTS

ALEX EBERHARDTInvestment Sales [email protected]

RICK CANUP, [email protected]

Coldwell Banker Commercial hereby advises all prospective purchasers of Single/Multi-TenantNet Leased property as follows:

PROPERTY INFORMATION 3

LOCATION INFORMATION 9

DEMOGRAPHICS 14

ADVISOR BIOS 16

NET LEASED DISCLAIMER

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ALEX EBERHARDTInvestment Sales [email protected]

RICK CANUP, [email protected]

SECTION 1:

PROPERTY INFORMATION

Exclusively Offered By: RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

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Executive SummaryNET LEASED INVESTMENT GROUP

RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

PROPERTY OVERVIEWThe Net Leased Investment Group for Coldwell Banker Commercial is pleased to offer for the sale of DairyQueen in Denver City, Texas. Operated by Vasari, LLC, this Dairy Queen is part of Vasari's 70+ units inoperation. Vasari is the 2nd largest DQ franchisee in the United States and the largest in Texas.

There are 8 years remaining in the primary 20-year lease term. The lease is Absolute NNN with the tenantdirectly responsible for all operating expenses including property taxes, common area maintenance andproperty insurance. A significant feature of the lease is a 10% rent increases during the primary lease term andlease options.

This subject property is near retailers such as McDonald's, Dollar General, Pizza Hut and Sonic, and the localhigh school is situated in close proximity to Dairy Queen.

This property was renovated in 2003. This Dairy Queen has a large parking lot providing the ability to servecustomers on a large scale.

PROPERTY HIGHLIGHTS• Absolute NNN Lease

• 20 Year Lease (8 Remaining)

• 10% Rent Increase in 2020 During Primary Term

• Zero Landlord Responsibilities

• 70+ Unit Franchisee

• 1/2 Mile Away from Denver City High School

• Four (4), Five (5) Year Options-To-Renew

PROPERTY SUMMARY

Sale Price: $425,000

Cap Rate: 6.5%

NOI: $27,720

Lot Size: 30,000 SF

Building Size: 1,500 SF

Year Built: 1975

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

RENT INCREASES 10% Increase on 06/01/2020 Within the Primary Term of the LeaseUntil 2025

PRICE $425,000

CAP RATE 6.5%

LANDLORD RESPONSIBILITIES Zero

BUILDING SIZE: 1,500 SF

LOT SIZE: 30,000 SF

NOI: $27,720.00

Property DetailsNET LEASED INVESTMENT GROUP

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TENANTNAME

UNITSIZE (SF)

LEASESTART

LEASEEND

ANNUALRENT

RENTPER SF/YR RENEWAL OPTIONS

Dairy Queen 1,500 07/08/2005 05/31/2025 $27,720 $18.48 Four- 5 Year Options

Totals/Averages 1,500 $27,720 $18.48

There will be a 10% rent increase on 06/01/2020 ($30,492 annually) within the primary term of the lease.

First renewal option will increase annual rent to $33,541.

Second renewal option will increase annual rent to $36,895.

Third renewal option will increase annual rent to $40,585.

Fourth renewal option will increase annual rent to $44,643.

RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

Rent RollNET LEASED INVESTMENT GROUP

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

Additional PhotosNET LEASED INVESTMENT GROUP

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

DAIRY QUEENDairy Queen has been serving America’s favorite soft serve ice cream and sweet treats for more than 70 years.The story of Dairy Queen began in 1938 when a father and son partnership in Green River, Illinois hadbeen experimenting with a soft frozen dairy product. The product soon became a hit and evolved into a widearray of ice cream treats that continue to be a staple across America.

The famous DQ Blizzard is a favorite for many, however, DQ serves a wide variety of American food items suchas hamburgers, hot dogs, chicken fingers, french fries, salads, and breakfast items that can satisfy just aboutevery taste. International Dairy Queen, Inc. is a wholly owned subsidiary of Berkshire Hathaway.

VASARI, LLC (FRANCHISEE)Vasari, LLC owns and operates over 70 Dairy Queen Restaurants in Texas, New Mexico, and Oklahoma.Headquartered in Irving, Texas, Vasari serves as the largest Dairy Queen franchisee in Texas and the secondlargest in the Dairy Queen system. Vasari is currently injecting capital into its existing restaurants with astrategy of remodeling and modernizing 70 stores over the next few years. These newly remodeled stores willfeature more contemporary designs. Vasari, LLC is owned by Eagle Merchant Partners, an Atlanta, Georgiaprivate equity firm.

Dairy Queen and Vasari, LLCNET LEASED INVESTMENT GROUP

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SECTION 2:

LOCATION INFORMATION

Exclusively Offered By: RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

Denver City, TXNET LEASED INVESTMENT GROUP

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

Regional MapNET LEASED INVESTMENT GROUP

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

Denver City AerialNET LEASED INVESTMENT GROUP

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

Property AerialNET LEASED INVESTMENT GROUP

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SECTION 3:

DEMOGRAPHICS

Exclusively Offered By: RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

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Census 2010 2015 2020

4,016 4,255 4,543

1,347 1,424 1,518

1,070 1,128 1,200

2.98 2.99 2.99

1,002 1,028 1,081

345 396 438

31.5 31.9 31.8

Area State National

1.32% 1.52% 0.75%

1.29% 1.54% 0.77%

1.25% 1.49% 0.69%

1.01% 1.47% 0.70%

0.84% 2.84% 2.66%

Number Percent Number Percent

218 15.3% 204 13.4%

92 6.5% 75 4.9%

118 8.3% 103 6.8%

95 6.7% 97 6.4%

476 33.4% 552 36.4%

179 12.6% 205 13.5%

194 13.6% 222 14.6%

24 1.7% 30 2.0%

27 1.9% 31 2.0%

$56,749 $59,172

$63,746 $69,123

$21,516 $23,281

Summary

Median Age

Population

Households

Families

Population

Households

Families

Per Capita Income

Average Household Size

Owner Occupied Housing Units

Renter Occupied Housing Units

Trends

Households

$35,000 - $49,999

$50,000 - $74,999

$75,000 - $99,999

$100,000 - $149,999

$150,000 - $199,999

$200,000+

Owner HHs

Median HH Income

<$15,000

2015 2020

Median HH Income

Average HH Income

$15,000 - $24,999

$25,000 - $34,999

1 Mile RadiusNET LEASED INVESTMENT GROUP

RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

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SECTION 4:

ADVISOR BIOS

Exclusively Offered By: RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

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T 806.784.3258C [email protected]

RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

Investment Sales Specialist

Specializes in analyzing and brokerage of shopping center and single-tenant net leased assets. Member of International Council of ShoppingCenters (ICSC) and a RECON attendee. Member of Coldwell Banker Commercial Net Leased Investment Group. Member of Texas Tech AlumniAssociation and Young Professionals of Greater Lubbock. Featured writer for Texas Real Estate Business Magazine.

• Net Leased Invesments & Shopping Center Brokerage• Sold 240,702 total square feet in 2016

• Texas Tech University - Rawls College of Business, Lubbock, Texas• Bachelors of Business Administration in Marketing

• Licensed By the Texas Real Estate Commission• Member of (ICSC) International Council of Shopping Centers• Graduate of Emerging Broker Training, 2015 Coldwell Banker Commercial• Member of the Lubbock Association of Realtors, and National Association of Realtors.

• South Plains Plaza | Lubbock, TX• Starbucks and Verizon Wireless | Edmond, OK

BACKGROUND

PRIMARY SPECIALTY

EDUCATION

MEMBERSHIPS & ASSOCIATIONS

RECENT TRANSACTIONS

ALEX EBERHARDT

Advisor Bio | Rick CanupNET LEASED INVESTMENT GROUP

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RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

Exclusively Offered By:CBCNetLeasedGroup.com

T 806.784.3304C 806.438.8188F [email protected]

CEORICK CANUP, CCIM

Advisor Bio | Alex EberhardtNET LEASED INVESTMENT GROUP

• CEO, Owner, and Principal Broker of Coldwell Banker Commercial Capital Advisors since 1977• REO and Distressed Asset Management and Disposition Services• Institutional Consultant regarding the maximization of Property Value Enhancement• Real Estate Asset Analysis and Marketing Strategies• Site Selection for Development Opportunities

• #1 Coldwell Banker Commercial office in Texas for 2010, 2011, 2012, 2013, 2014, and 2015.• #5 Coldwell Banker Commercial office globally in 2012• #7 Coldwell Banker Commercial office globally in 2013• #6 Coldwell Banker Commercial office globally in 2014• #8 Coldwell Banker Commercial office globally in 2015• 2011 Recipient of the Prestigous CBC Halter/Case Leadership Award out of 3,000 Brokers & Agents• 2014 Recipient of the prestigious Coldwell Banker Chandler Barton Spirit Award out of 88,000 Brokers & Agents• Previously served on the 9-member President’s Advisory Board for Coldwell Banker Commercial Corporate 2011 through 2013• 3 times Mentor/Protege of the Year for Coldwell Banker Commercial in 2006, 2008 and 2010• (CCIM) Certified Commercial Investment Member, 1983.• Certified Apartment Specialist, Coldwell Banker Commercial, 1983• Certified Land Specialist, Coldwell Banker Commercial, 1984• REALTOR® of the Year, 1990, Lubbock Association of REALTORS® - President, 1991 - Chairman of Board,

1992 - Distinguished Service Award, 2010• Various sales and management awards - Coldwell Banker Commercial• Member of ICSC –International Council of Shopping Centers• Licensed by the Texas Real Estate Commission since 1974

• NNN Investments, Multi-Family & Land

• Co-Regional Director of the Southern Central region of the CBC MultiFamily Group, Coldwell Banker Commercial (South Region consists ofTexas, Oklahoma, Kansas, New Mexico, and Colorado).

• Led our team of professionals in the participation of over one billion dollars of brokerage and leasing of commercial real estate in the lastfew years including Multi-Family, Retail, Office, Industrial, and Development Land Assets.

EXPERTISE & STRENGTHS

AFFILIATIONS & AWARDS

PRIMARY SPECIALTY

ACCOMPLISHMENTS

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NET LEASED INVESTMENT GROUPLUBBOCK OFFICE4924 S. Loop 289Lubbock, TX 79414806.793.0888

Exclusively Offered By: RICK CANUP, [email protected]

ALEX EBERHARDTInvestment Sales [email protected]

CBCNetLeasedGroup.com

NET LEASED INVESTMENT GROUP

© 2016 Co ldwe l l Banker Rea l Es ta te LLC , dba Co ldwe l l Banker Commerc ia l A f f i l i a tes . A l l R ights Reserved . Co ldwe l l Banker Rea l Es ta te LLC , dba Co ldwe l lBanker Commerc ia l A f f i l i a tes p r inc ip les o f the Equa l Oppor tun i ty Ac t . Each Of f i ce i s Independent l y Owned and Opera ted . Co ldwe l l Banker Commerc ia l andthe Co ldwe l l Banker Commerc ia l Logo a re reg i s te red se rv i ce marks owned by Co ldwe l l Banker Rea l Es ta te LLC , dba Co ldwe l l Banker Commerc ia l A f f i l i a tes .

Dairy Queen500 W. Broadway Street, Denver City, TX 79323

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EQUAL HOUSINGOPPO RTU N ITY

Approved by the Texas Real Estate Commission for Voluntary Use

efore working with a real estate broker, you shouldBknow that the duties of a broker depend on whomthe broker represents. If you are a prospectiveseller or landlord (owner) or a prospective buyer or

tenant (buyer), you should know that the broker who liststhe property for sale or lease is the owner’s agent. Abroker who acts as a subagent represents the owner incooperation with the listing broker. A broker who acts asa buyer’s agent represents the buyer. A broker may act asan intermediary between the parties if the partiesconsent in writing. A broker can assist you in locating aproperty, preparing a contract or lease, or obtainingfinancing without representing you. A broker is obligatedby law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into anagreement with the owner, usually through a written -listing agreement, or by agreeing to act as a subagent byaccepting an offer of subagency from the listing broker. Asubagent may work in a different real estate office. Alisting broker or subagent can assist the buyer but doesnot represent the buyer and must place the interests ofthe owner first. The buyer should not tell the owner’sagent anything the buyer would not want the owner toknow because an owner’s agent must disclose to theowner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into anagreement to represent the buyer, usually through awritten buyer representation agreement. A buyer’s agentcan assist the owner but does not represent the ownerand must place the interests of the buyer first. The ownershould not tell a buyer’s agent anything the owner wouldnot want the buyer to know because a buyer’s agent mustdisclose to the buyer any material information known to theagent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the partiesif the broker complies with The Texas Real Estate License

Act. The broker must obtain the written consent of eachparty to the transaction to act as an intermediary. Thewritten consent must state who will pay the broker and, inconspicuous bold or underlined print, set forth the broker’sobligations as an intermediary. The broker is required totreat each party honestly and fairly and to comply withThe Texas Real Estate License Act. A broker who actsas an intermediary in a transaction:

(1) shall treat all parties honestly; (2) may not disclose that the owner will accept aprice less than the asking price unless authorized inwriting to do so by the owner; (3) may not disclose that the buyer will pay a pricegreater than the price submitted in a written offerunless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information orany information that a party specifically instructs thebroker in writing not to disclose unless authorized inwriting to disclose the information or required to do soby The Texas Real Estate License Act or a courtorder or if the information materially relates to thecondition of the property.

With the parties’ consent, a broker acting as anintermediary between the parties may appoint a person whois licensed under The Texas Real Estate License Actand associated with the broker to communicate with andcarry out instructions of one party and another person whois licensed under that Act and associated with the brokerto communicate with and carry out instructions of theother party.

If you choose to have a broker represent you, you should enter into a written agreement with the brokerthat clearly establishes the broker’s obligations and yourobligations. The agreement should state how and bywhom the broker will be paid. You have the right tochoose the type of representation, if any, you wish toreceive. Your payment of a fee to a broker does notnecessarily establish that the broker represents you. If youhave any questions regarding the duties andresponsibilities of the broker, you should resolve thosequestions before proceeding.

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a questionor complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.

Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Information About Brokerage Services

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Buyer, Seller, Landlord or Tenant Date

01A TREC No. OP-K