TACO BELL RESTAURANT - LoopNet...TACO BELL RESTAURANT NNN Investment. 220 Reynolds Road Johnson City, NY 13790. DAVE DELATORRE T. 619 247 8585 . F. 828 459 3066 [email protected]

TACO BELL RESTAURANT

NNN Investment220 Reynolds Road

Johnson City, NY 13790DAVE DELATORRE

T 619 247 8585 F 828 459 [email protected]

Taco Bell NNN InvestmentPROPERTYTaco Bell Restaurant

LOCATION220 Reynolds Road, Johnson City, NY 13790

SALES PRICE$3,900,000

CAPITALIZATION RATE5.0%

RENT

YEAR BUILTThe Taco Bell was originally constructed in 1994 and remodeled to Taco Bell’s current image standards in 2016 when MUY Brands invested approximately $450,000.

BUILDING SIZEApproximately 2,120 square feet with drive thru lane newly remodeled in 2016.

LAND PARCEL SIZEApproximately 23,910 square feet at corner signalized intersection.

PRIMARY LEASE TERM & OPTION PERIODSNew Twenty (20) Year primary lease term commencing upon close of escrow with four additional Five (5) Year options to extend at the same Terms and Conditions.

RENTAL INCREASESFixed Ten (10%) Percent rent increases every Five (5) Years including options.

2

EXECUTIVE SUMMARY

Years 1-5 Years 6-10 Year 11-15 Years 16-20

Monthly $16,250.00 $17,875.00 $19,662.50 $21,628.75

Annual $195,000 $214,500 $235,950 $259,545

DAVE DELATORRET 619 247 8585 [email protected]

TENANT INFORMATION

MUY Brands, LLC is a Texas Limited Liability Company who

owns and operates 81 Taco Bell restaurants in Connecticut,

New York, Pennsylvania, New Jersey, and Virginia. The

company was founded in 2007 and acquired the existing

Taco Bell restaurants in 2012 from another Taco Bell franchisee

called El Rancho Foods who operated the restaurants for

many years prior to MUY Brands, LLC acquiring the former

El Rancho company. MUY Brands, LLC is also part of the

MUY Companies which operate another 369 Pizza Hut

Restaurants in Texas, 6 southeast states, and Minnesota and

who are one of the largest Pizza Hut franchisees in America.

Another MUY company called MUY Hamburger Partners, LLC

was established in 2012 and is currently the second largest

Wendy’s franchisee who operates 320 Wendy’s restaurants

in the Ohio, Texas, and New York markets. The collective

MUY Companies own and operate 770 restaurants and were

recently recognized by Nation’s Restaurant News 2018

industry survey as the 5th largest franchisee in America with

revenues approaching $1 billion. Please visit the company

website at www.muycompanies.com for additional information

on the company.

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Taco Bell NNN InvestmentEXECUTIVE SUMMARY

4DAVE DELATORRET 619 247 8585 [email protected]


COMMENTSThe Taco Bell is ideally located in the heart of an

upscale New York residential suburb of Johnson

City New York. The 23,901 SF rectangular land

parcel is located on a hard corner signalized

intersection of Reynold’s Road. The existing

restaurant 2,120 SF building was constructed in

1994 and completely remodeled to Taco Bell’s

current image standards in 2016 when MUY

Brands invested $450,000 into remodeling the

building. The building features a high-volume

drive-thru lane along the eastern side of the

restaurant. The Johnson City Taco Bell restaurant

is one of the strongest performing Taco Bell’s

that MUY Brands LLC operates in New York.

The property has excellent visibility from a

signalized hard corner intersection on Reynolds

Road which is a very high traffic area with

over 35,000 vehicles per day. The location on

Reynolds Road is also easily accessible by route

17 and the 201 bridge, making the Taco Bell a

convenient destination for people both from in and

outside the Broome County area. There are dense

residential neighborhoods to the north, west, and

east of the Taco Bell where approximately 15,000

people reside in Johnson City. The Johnson City

Taco Bell generates a strong AM business of

people commuting to work and strong dinner

business when most Johnson City residents

must pass the Taco Bell both going to work and

returning from work which is an ideal traffic

pattern for fast food restaurants.

The restaurant also generates a very significant

business from retail employees who work in the

dense retail trade area surrounding the Taco Bell

location. The Johnson City Taco Bell is next to

several other fast-food and sit-down restaurants

including Friendly’s, McDonald’s, and Dunkin’

Donuts. This retail trade area of Johnson City is

a mature retail are that is protected against new

fast food restaurants so that Taco Bell property

has extremely valuable grandfathered rights as a



drive thru restaurant which creates considerable

intrinsic and future value to the owner.

The Taco Bell is positioned between Johnson

City’s two major trade area generators – the

Walmart anchored shopping center and

Wegman’s Grocery Center. The Wegman’s

Grocery store anchored shopping center is

located less than one block from Taco Bell and

is the dominant grocery store in Johnson City.

The retail trade area also features Walmart,

Home Depot, and several other national big box

retailers which create a regional retail draw from

10 to 20 miles.

Johnson City’s central location, at the heart of

the Triple Cities, gives easy access to the 198,797

people living in Broome County. Its location at

the northern end of the 201 Bridge across the

Susquehanna River also allows easy access by

residents of northern Pennsylvania. The majority

of the 5,000 off-campus Binghamton University

students live in Binghamton’s West Side, and for

many of them, downtown Johnson City is their

nearest downtown. Many more work and travel

through the central village; 2,200 people work

on the United Health Services (UHS) campus; the

Binghamton University schools are expected to

host approximately 1,400 students and staff; the

Goodwill Theatre seats 150, and features weekly

performances throughout the year.

Downtown Johnson City, which is located 2

miles southeast from the property, has been

designated a health and cultural district, poised

to be the center of medical innovation and

research. The 25+ acre United Health Services

campus, supported by various private practices,

and Binghamton University’s incoming Pharmacy

School and Decker Nursing School, are all located

nearby the Taco Bell location. The new university

sites are expected to host approximately 1,400

students, professional and support staff.


Taco Bell NNN InvestmentSITE PLAN

REY

NO

LDS

RO

AD

35,

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0 C

PD


Taco Bell NNN InvestmentAERIAL VIEWS

2019 Demographics - Broome County 1 Mile

Population (2019) 196,124

Households 90,727

Mean HH Income $49,067SUBJECT PROPERTY

Oakdale Mall

Wegman’s Plaza Shopping Center

Taco Bell NNN InvestmentAERIAL VIEWS


SUBJECT PROPERTY

8686

Oakdale Mall

Wegman’s Plaza

UHS Wilson Medical Center

Johnson CityHigh School


Taco Bell NNN InvestmentMAPS

SUBJECT PROPERTY

SUBJECT PROPERTY


Raymour & Flanigan Furniture, Mavis Discount TIre, Pizza Hut

MetroMattress, Pizza Hut, Naturally Nails, Skinny Licks Plaza

Dunkin’ Donuts

McDonald’s Mr. Tire Miracle Spa

Taco Bell NNN InvestmentTRADE AREA

Surrounding Retail


Wegman’s Johnson City Liquor & Wine Speedway Fuel

Guitar Center Hampton Inn U-Haul


Wegman’s Plaza


Walmart Party City Petco, Christmas Tree Shops, Toys R Us, Lumber Liquidators, Five Below, Party City

Five Below Burlington Coat Factory JCPenney


Big Box Retail


Papa John’s Pizza Friendly’s Subway

Ground Round Best Western Plus La Quinta Inn & Resort


Dining & Hospitality


Taco Bell NNN InvestmentAREA INFORMATION

Johnson City, New YorkNestled in a verdant river valley lies the Village

of Johnson City, host to approximately 15,000

residents. Downtown Johnson City is poised to be

the health and cultural heart of the Triple Cities.

Not only is the village at the nexus of innovation

today, but it is set to become a new center for

medical advancements.

Downtown Johnson City’s solidly built

infrastructure, historic character, cultural diversity,

central location and current development activity

make it an ideal recipient for both public and

private investments. In 2011 the village was

selected to receive a $457,000 Main Street

grant, facilitated through the Johnson City

Partners, a local economic development nonprofit

organization. An additional $250,000 in private

investments enhanced the impact of that grant.

$150+ million in public and private investments

are currently ongoing in downtown Johnson

City. Additionally, multiple incentives are in place

to drive job growth in downtown Johnson City,

according to Broome County’s 2019 Economic

Outlook Guide.

Following a thorough environmental scan/

needs assessment in 2012-2013, the construction

and outfitting of the School of Pharmacy and

Pharmaceutical Sciences was a $60 million

investment. This new facility will not only establish

innovative pharmaceutical science and therapies,

but it will also create a thriving medical industry

in the Greater Binghamton Area. Southern Tier

Health Sciences and Technology Innovation Park

in Johnson City, connected to west Binghamton

with a $23 Million investment in a mixed-use

redevelopment called ANSCO Lofts. Innovation

Associates, Inc is almost doubling their local

footprint as it is currently remodeling a 91,000

sq ft. campus on Innovation Way in Johnson City.

Innovation is a pharmacy automation leader,

offering precision counting equipment and

workflow software platforms to companies within

the pharmaceutical industry.

Downtown Johnson City also falls within the

Endicott Johnson Industrial Spine Brownfield

Opportunity Area. Work to redevelop the sites is

underway, led by the Broome County Department

of Planning and Economic Development. The

steering committee is actively working toward the

creation of reuse plans, design alternatives and

marketing for the sites, and developing design

guidelines for Johnson City. They are proactively

ensuring that all new development will be based in

smart growth principles. Village, town and county

officials are in talks with Swift Tram to be host a

prototype of a new suspended automated transit

network, which would carry passengers from the


Taco Bell NNN InvestmentAREA INFORMATION

Binghamton University Center for Technology and

Innovation across the Susquehanna river to the

United Health Services campus. Along with hosting

the prototype, Johnson City is a potential location

for Swift Tram’s manufacturing facility. Strategic

investment on the part of the state is expected to

make this community a regional economic driver,

providing long-term returns on investment in the

terms of increased property values and tax base, as

well as spurring population growth.

Johnson City is in the town of Union, New York

located in the Southern Tier REDC Region of

Broome County, and is part of the Triple Cities

along with Endicott and Binghamton. 14% of

Broome County’s business sector is located in

Johnson City, which makes it the most dense trade

area in the county next to Binghamton. Johnson

City has many features including a compact,

walkable downtown; largely preserved historic

district; streets laid out before WWII, built for

pedestrians and public transportation; a diverse

population, especially for its small size; and a

desirable river-valley location.

DAVE DELATORRET 619 247 8585 F 828 459 3066

[email protected]

7486 La Jolla Boulevard, Suite 173La Jolla, California 92037

Documents

TACO BELL RESTAURANT - LoopNet...TACO BELL RESTAURANT NNN Investment. 220 Reynolds Road Johnson City, NY 13790. DAVE DELATORRE T. 619 247 8585 . F. 828 459 3066 [email protected]