FOR SALE ABSOLUTE NNN DENNY'S · Chili's Panda Express Chipolte Menard's Lowe's Red Lobster ABSOLUTE NNN DENNY'S New 10 Year Lease 5800 S Franklin Street, Michigan City, IN DEMOGRAPHICS

FOR SALE

SPERO P. [email protected]

PETER L. KARLIS [email protected]

For more information,please contact:

Cornerstone Commercial Partners II141 West Jackson BoulevardSuite 1735Chicago, IL 60604http://www.ccptwo.com

ABSOLUTE NNN DENNY'SNew 10 Year Lease

5800 S Franklin Street, Michigan City, IN

SPERO P. ADAMIS 312-348-1000 • [email protected]

Indiana Licensee:BRIAN EPSTEINUrbanspace Commercial Properties

PETER L. KARLIS 630-853-1313 • [email protected]

9/17/2018 5800 Franklin St - Google Maps

https://www.google.com/maps/place/5800+Franklin+St,+Michigan+City,+IN+46360/@41.9588551,-87.3456016,9z/data=!4m5!3m4!1s0x881109dabe967f31:0x28b6… 1/1

Map data ©2018 Google 10 mi

5800 Franklin StMichigan City, IN 46360

5800 Franklin StINTRODUCTION

Cornerstone Commercial PartnersCornerstone Commercial Parnter is pleased to offer for sale this absolute triple net leased Denny's Restaurant in Michigan City, Indiana. Located less than a half-mile from I-94, the restaurant is located on a Walmart out lot, and is surrounded by national retailers, hotels and restaurants. A new 10-year lease extension begins in September 2018, and is guaranteed by a strong, 28 unit operator. The property is located in the heart of the Franklin Street commercial corridor, and just a half-mile from a new $240 million Fransiscan Health Hospital.

Table of ContentsIntroduction .............................................................................. 2Executive Summary.................................................................. 3Highlights / Demographics ....................................................... 4Property Description................................................................. 5Aerial View.............................................................................6-7Tenant Information ................................................................... 8










5800 Franklin StEXECUTIVE SUMMARY ABSOLUTE NNN DENNY'SNew 10 Year Lease


Offering Price..................................................................$1,500,000

Store Size: .......................................................... 5,400 SF (Approx.)

Land Area: .......................................................................1.36 Acres

Cap Rate .................................................................................. 6.0%

Tenant......................................................Classic Dining Group, LLC

DBA Denny's (28 Unit Operator)

Lease Types.............................................................................. NNN

Lease Expiration ..............................................................15-Sep-28

Current Annual Rent: ..........................................................$90,000








5800 Franklin St




HIGHLIGHTS / DEMOGRAPHICS

Investment Highlights

• New 10 year Lease• Walmart Outlot, but No Restrictive Covenants• Less than 1/2 Mile to I-94 Interchange• 28 Unit Operator Guaranty• New $240 Million Fransiscan Heath Hospital 1/2 Mile Away• Long Operating History at Location• Annual Rent Escalations• Absolute NNN Lease - No Landlord Responsibilities• Surrounded by Hotels, and These NearbyTenants: McDonalds Panera Steak'n Shake Texas Corral Culvers Olive Garden Chili's Panda Express Chipolte Menard's Lowe's Red Lobster



DEMOGRAPHICS

POPULATION:

2017 Population

2010-2017 Population Growth

2017 Households

Average Household Size

2017 Average Household Income

2017 Businesses

2017 Employees

3 MILE

31,657

0.08%

12,196

2.38

$50,267

1,277

19,382

5 MILE

43,022

0.03%

16,919

2.38

$58,542

1,665

24,634





https://www.google.com/maps/place/5800+Franklin+St,+Michigan+City,+IN+46360/@41.6690172,-86.8927423,1122m/data=!3m1!1e3!4m5!3m4!1s0x881109dabe9… 1/1

Imagery ©2018 Google, Map data ©2018 Google 500 ft


5800 Franklin StPROPERTY DESCRIPTION

Address

CountyBuilding Size: Land Area: PINs:

Real Estate Tax 2017(Paid by Tenant)Use: Construction Year Built: Parking: Roof:

Signage:

Lease Abstract

Original Commenment DateLease ExtensionCommencement:Expiration:Rent Escalation:Options: Lease Type:Tenant:Guarantor:Current Annual Rent:

5800 S Franklin StreetMichigan City, IN 46360LaPorte County5,400 SF1.36 Acres46-05-09-300-011.000-009; 46-05-09-300-015.000-009$16,989

Full Service RestaurantBrick and Concrete Block Elevation199580 Car Asphalt Surface LotPart Pitched w/Asphalt Shingles,Part FlatLarge Pylon Sign

May 24, 2006September 15, 2018

September 15, 20281.0% Annually2 5-Year Option TermsNNN, No Landlord ResponsibilitiesPFC of Michigan City, Inc.Classic Dining Group, LLC$90,000

Property Description







5800 Franklin St





5800 Franklin St

SITE

FRANKLIN STFRANKLIN ST

32,432 VPD32,432 VPD




AERIAL ABSOLUTE NNN DENNY'SNew 10 Year Lease






5800 Franklin St





5800 Franklin St

SITE



NEW $240MHOSPITAL

OPENING SOON

AERIAL ABSOLUTE NNN DENNY'SNew 10 Year Lease


94 94








5800 Franklin St TENANT INFORMATION ABSOLUTE NNN DENNY'SNew 10 Year Lease


©2016 Cornerstone Commercial. We obtained the 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 current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

PFC Classic Dining is a multi state restaurant group specializing in franchise concepts. With a focus on quality team members,

product, and efficient business practices PFC strives to be one of the top restaurant groups in the Midwest.

Our company has twenty seven Denny’s locations spread across Illinois, Indiana, and Wisconsin with a Ruby Tuesday’s in Wisconsin.

This company puts an emphasis on growth and company profitability with additional future restaurant locations and possible new

restaurant concepts on the horizon.

https://pfcclassicdining.com/




Documents

FOR SALE ABSOLUTE NNN DENNY'S · Chili's Panda Express Chipolte Menard's Lowe's Red Lobster ABSOLUTE NNN DENNY'S New 10 Year Lease 5800 S Franklin Street, Michigan City, IN DEMOGRAPHICS