CAPTAIN D’S - Matthews · 2019-05-16 · Matthews Retail Advisors CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business

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R E T A I L A D V I S O R SOFFERING MEMORANDUM

CAPTAIN D’S 2515 S GREAT SOUTHWEST PKWY, GRAND PRAIRIE, TX 75052

Representative Photo

Matthews Retail Advisors

CONFIDENTIALITY & DISCLAIMER STATEMENT

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Captain D’s located at 2515 S Great Southwest Pkwy, Grand Praire, TX 75052 (“Property”) . I t has been prepared by Matthews Retai l Advisors . This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors . The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

EXCLUSIVELY LISTED BY:

Table of ContentsPRICING & FINANCIAL ANALYSIS

Investment Highlights.................................................................... 2Executive Summary.........................................................................3Company Overview .......................................................................4

PROPERTY DESCRIPTIONPhysical Description ...................................................................... 6Birds Eye ............................................................................................7Tenant Map....................................................................................... 8Regional Map ................................................................................... 9

DEMOGRAPHICSCity Overview | Grand Prairie, TX .............................................. 12Demographics Report .................................................................. 13

Mark CohenBroker of Record License No. 447509

Gary ChouDirector | Restaurant Practice Group DIRECT +1.310.919.5827 MOBILE +1.714.928.8016 [email protected] License No. 01911222

Matthews Retail Advisors

Pricing & Financial Analysis

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OFFERING MEMORANDUM | Captain D’sP. 2 Matthews Retail Advisors

PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

GREAT FOR OUT-OF-STATE-INVESTORS

• Absolute NNN Investment – Zero landlord responsibility making this investment great for out of state investors looking for passive income

STRONG BUSINESS CONCEPT AND PERFORMANCE

• Growing Fast Casual Brand – Based out of Nashville, TN, Captain D’s specializes in serving delicious seafood and fish and chips at over 520 locations

• Corporate Guarantee – Shoney’s operates restaurants in 17 states and have been in business since 1947; primarily in the Southeast, Midwest, and Mid-Atlantic States

• Healthy Rent-to-Sales Ratio – Captain D’s is operating with a low occupancy cost making the location more profitable for them

EXCELLENT RETAIL LOCATION

• Heavily Trafficked Location - The Great Southwest Pkwy heading south towards Captain D’s has over 17,000 CPD in addition to State Spur 303 (W Pioneer Pkwy) serving approximately 21,000 CPD

• Excellent Demographics – High growth area with 42.89% during 2000-2010, 9.75% during 2010-2015, projected 8.46% during 2015-2020 in a one mile radius with over 313,000 people already living in a three mile radius

• Nearby tenants include Sherwin-Williams, Hong Kong Market, Fresh Express, Valero, among others

Investment Highlights

Matthews Retail Advisors P. 3Captain D’s | OFFERING MEMORANDUM


Executive Summary

CAPTAIN D’S2515 S GREAT SOUTHWEST PKWY GRAND PRAIRE, TX 75052

List Price ..............................................................................................$472,000CAP Rate - Current ..................................................................................9.00 %Gross Leasable Area ........................................................................ 2,696 SFLot Size ..................................................................... 0.49 Acres ( 21,344 SF)Year Built ........................................................................................................1995

Annualized Operating DataMonthly Rent Annual Rent CAP Rate

Current - 12/31/2018 (Option 1) $3,533.08 $42,397.00* 9.00%

Option 2 - 12/31/2023 $3,533.08 $42,397.00* 9.00%

Tenant Summary

Tenant Trade Name Captain D's

Type of Ownership Fee Simple

Lease Guarantor Corporate

Lease Type NNN

Roof and Structure Tenant Responsible

Original Lease Term 5

Lease Commencement Date 1/1/2014

Rent Commencement Date 1/1/2014

Lease Expiration Date 12/31/2018

Term Remaining on Lease 3.3

Increases None

Options One (1) 5-Year Option Remaining

*Rent is based on 5% of average store sales for the past 3 years. Base rent is $31,522 and percentage rent overages equal $10,875.



Company Overview

Property Name Captain D’s

Gross Leasable Area 2,696 SF

Property Type Quick Service Restaurant

Parent Company Trade Name Sun Capital Partners

Ownership Private

No. of Locations +520

Headquartered Nashville . TN

Web Site http://www.captainds.com

Year Founded 1969

Captain D’s Seafood Restaurant first opened its doors back on Au-gust 15, 1969. A lot has changed since then, but their commitment to serving freshly prepared seafood at a great value has been their core mission from the beginning. Known originally as Mr. D’s Seafood and Hamburgers, Captain D’s was opened in Donelson, Tennessee. From the very start, they set out to provide quality seafood at reasonable prices—a concept that was revolutionary at the time.

Today, Captain D’s is still dedicated to serving freshly prepared sea-food at reasonable prices, all while offering the best dining experience in the industry. They work hard to make sure that these values shine through in every customer interaction. Since 1969 they have had over 40 years to perfect their recipe for success, which combines great food and great value with even better service. This focus on serv-ing quality seafood in a warm and inviting atmosphere has helped us grow to over 500 restaurants since 1969. Read on to discover more about what makes us unique.

Property Description

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Property Description



Physical Description

THE OFFERING

Property Name ..................................................................................... Captain D’s

Property Address .............................................2515 S Great Southwest Pkwy

Grand Praire, TX 75052

Assessor’s Parcel Number ...................................................................06148840

SITE DESCRIPTION

Number of Stories .............................................................................................One

Year Built .............................................................................................................1995

Gross Leasable Area (GLA) ................................................................. 2,696 SF

Lot Size............................................................................ 0.49 Acres ( 21,344 SF)

Type of Ownership ...............................................................................Fee Simple

Landscaping ........................................................................................Professional

Topography ................................................................................... Generally Level

CONSTRUCTION

Foundation .......................................................................................Concrete Slab

Framing .............................................................................................................Wood

Exterior ............................................................................................ Painted Stucco

Parking Surface ............................................................................................Asphalt

Roof ........................................................................................................................Flat



Birds Eye



Tenant Map



Regional Map



Demographics

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Demographics


PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS PRICING AND FINANCIAL ANALYSIS PROPERTY DESCRIPTION DEMOGRAPHICS

City Overview | Grand Prairie, TXGrand Prairie, Texas, suburb of Dallas is centrally located in the Dallas-Fort Worth-Arlington Metropolitan Statistical Area. The commu-nity stretches 26 miles long by about eight miles at its widest point. The city covers about 81 square miles (100 square miles including extra-territorial jurisdiction) and has an estimated population of 181,824. It is also a part of the Mid-Cities region in the Dallas–Fort Worth metroplex.

The City of Grand Prairie, Texas, offers relaxation, family fun, friend-ly neighbors and a smart place to live and do business. With its popu-lation Grand Prairie is the 15th largest city in Texas and in the top 150 na-tionwide. Generally speaking, residents are around 30 something, dual income homeowners. In Grand Prairie, families who have lived here for generations welcome newcomers who come to Grand Prairie for the same reasons the natives don’t leave—location and hometown atmosphere.

The majority of Grand Prairie kids attend schools in the Grand Prairie Independent School District. GPISD is a 58-square-mile district serving more than 26,000 students within the Dallas County portion of Grand Prairie. The district boasts 39 campuses, including 25 el-ementary schools, seven middle schools, two ninth grade centers, three high schools and two alternative education schools. The dis-

trict employs more than 3,372 staff members and offers a variety of services and programs designed to help students radiate success.

Tourists can play the horses at Lone Star Park, rummage through the 161-acre flea market at Traders Village, come face to face with lifelike figures at Louis Tussauds Palace of Wax, explore fascinating oddities from around the world at Ripley’s Believe It Or Not!, dance in the aisles at Verizon Theatre concerts, swing with abandon at Tangle Ridge and Prairie Lakes golf courses, and, to cap it all off, play on the beaches and camp under the stars at the 7,500-acre Joe Pool Lake. Grand Prairie even has a minor league baseball team, the Grand Prairie AirHogs, that plays in a 87,000-square-foot stadium located in the city’s entertainment district between Lone Star Park and Verizon Theatre.



Demographics ReportPopulation 1-Mile 3-Mile 5-Mile2020 Projection 7,570 147,794 332,4062015 Estimate 6,979 138,837 313,2972010 Census 6,359 130,243 294,9882000 Census 4,450 109,256 258,547Growth 2015-2020 8.46% 6.45% 6.10%Growth 2010-2015 9.75% 6.60% 6.21%Growth 2000-2010 42.89% 19.21% 14.09%

Households2020 Projection 2,391 46,928 111,2142015 Estimate 2,218 44,178 105,1892010 Census 2,058 41,746 100,0032000 Census 1,473 36,559 91,397Growth 2015-2020 7.77% 6.22% 5.73%Growth 2010-2015 7.80% 5.83% 5.19%Growth 2000-2010 39.65% 14.19% 9.42%

Income$0 - $15,000 19.03% 14.26% 14.26%$15,000 - $24,999 19.34% 14.35% 14.35%$25,000 - $34,999 13.84% 14.85% 14.85%$35,000 - $49,999 14.65% 16.77% 16.77%$50,000 - $74,999 16.73% 19.25% 19.25%$75,000 - $99,999 8.66% 10.44% 10.44%$100,000 - $124,999 3.20% 4.95% 4.95%$125,000 - $149,999 2.48% 2.49% 2.49%$150,000 - $199,999 1.53% 1.77% 1.77%$200,000 - $249,999 0.32% 0.47% 0.47%$250,000 - $499,999 0.18% 0.34% 0.34%$500,000+ 0.05% 0.06% 0.06%2015 Est. Average Household Income $45,043 $51,130 $57,642 2015 Est. Median Household Income $33,403 $40,853 $45,313

Matthews Retail Advisors | 841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.Matthews.com

Mark CohenBroker of Record License No. 447509

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CAPTAIN D’S2515 S Great Southwest PkwyGrand Praire, TX 75052OFFERING MEMORANDUM

Gary ChouDirector | Restaurant Practice Group DIRECT +1.310.919.5827 MOBILE +1.714.928.8016 [email protected] License No. 01911222

Documents

CAPTAIN D’S - Matthews · 2019-05-16 · Matthews Retail Advisors CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business