C a pt ai n D’s S ea f o o d
915 M a r t i n St r ee t S outh - P ELL C ITY, ALABAMA 351 28
of fer i ng memor andu m
ACTUAL PROPERTY
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID: Y0330285
1
I n v e st m ent Overvi ew
915 M a r t i n St r ee t S outh - P ELL C ITY, ALABAMA 351 28
Marcus & Millichap is pleased to present this 3,398-square
foot Captain D’s in Pell City, Alabama, approximately 35
miles west of Birmingham. There are over eight years
remaining on an absolute-net lease with zero landlord
responsibilities. The lease features 1.5 percent annual
increases in rent during the base term and in the eight,
five-year options, and is corporately guaranteed by
Captain D’s, Limited Liability Company, the number one
seafood franchise in America ranked by average unit
volume.
This asset is strategically situated about two miles south
of Interstate-20, which sees over 48,000 vehicles per day.
This Captain D’s is located on Martin Street South and is
also an outparcel to Pell City Market Place. Martin Street
South sees more than 19,000 vehicles per day and the
shopping center has over 159,000 square feet of retail,
which is anchored by Winn-Dixie, Kmart, and Sears.
Other tenants in the vicinity include: Walmart, Chickfil-A, Home Depot, CVS, Walgreens, Buffalo Wild Wings,
Dunkin’ Donuts, McDonalds, Dollar General, Little
Caesars, Sonic, and Metro Bank.
•Captain D’s in Pell City, Alabama | Approximately 35 Miles West of Birmingham
•Eight and a Half Years Remaining on an Absolute-Net Lease | Zero Landlord
Responsibilities
•Annual Increases of 1.5 Percent During the Base Term and in the Eight, Five-Year
Options
•Corporate Guaranty | Number One Seafood Franchise by Average Unit Volume in
The QSR 50 in 2016
•Strong Sales Momentum: 21 Consecutive Quarters of System-Wide Same-Store
Sales Growth
•Pad Site to Pell City Market Place | 159,000 Square Feet of Retail | Anchored by
Winn-Dixie, Kmart, and Sears
•Approximately One Mile South of Pell City Business District
•Other Tenants in the Vicinity Include: Walmart, Chick-fil-A, Home Depot, CVS,
Walgreens, Buffalo Wild Wings, Dunkin Donuts, McDonalds, Dollar Tree, Little
Caesars, Sonic, and Metro Bank
Actual Property
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID: Y0330285
2
Fi n an ci al Overvie w
915 M a r t i n St r ee t S outh - P ELL C ITY, ALABAMA 351 28
Offering Summary
PRICE
CAP RATE
NOI
PRICE PER SQUARE FOOT
RENT PER SQUARE FOOT
YEAR BUILT
LOT SIZE
GROSS LEASEABLE AREA
TYPE OF OWNERSHIP
LEASE GUARANTOR
LEASE TYPE
ROOF AND STRUCTURE
$1,063,000
5.76%
$61,253
$312.83
$18.03
1994
.34 Acres
3,398 Square Feet
Fee Simple
Corporate Guarantee
Absolute-Net
Tenant Responsible
Lease Summary
LEASE COMMENCEMENT DATE
LEASE EXPIRATION DATE
LEASE TERM
TERM REMAINING
INCREASES
OPTIONS TO RENEW
OPTIONS TO TERMINATE
OPTIONS TO PURCHASE
FIRST RIGHT OF REFUSAL
August 30, 2005
August 31, 2025
20 Years
8+ Years
1.5% Annually
8, 5-Year Options
None
None
Yes
Actual Property
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID: Y0330285
3
Ten an t Overview - Ca p ta i n D’s S ea f o od
915 M a r t i n St r ee t S outh - P ELL C ITY, ALABAMA 351 28
This Captain sails the fast food seas. The company
operates Captain D’s Seafood Kitchen, a leading quick
service seafood chain with more than 520 company owned
and franchised locations primarily in the United States but
also internationally. The eateries feature a menu of fried
and broiled fish, shrimp, and chicken, as well as french
fries, hush puppies, and corn on the cob. Captain D’s also
serves fish and chicken sandwiches, salads, and menu
items for kids. Most of the company’s restaurants are
located in such southern states as Georgia, Tennessee,
and Alabama. Ray Danner started the business as Mr. D’s
in 1969. Private equity firm Sun Capital Partners acquired
the chain in 2010. The fourth quarter of 2016 marked 21
consecutive quarters of system-wide same-store sales
growth.
TENANT PROFILE
TENANT TRADE NAME
Captain D’s, LLC
OWNERSHIP
Private
TENANT
Corporate Store
LEASE GUARANTOR
Corporate Guarantee
NUMBER OF LOCATIONS
500+
HEADQUARTERED
Nashville, TN
WEB SITE
http://www.captainds.com/
RANK
Number One in Seafood
Franchise by Average
Unit Volume (The QSR 50
2017)
Actual Property
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID: Y0330285
4
A er i al O verview
915 M a r t i n St r ee t S outh - P ELL C ITY, ALABAMA 351 28
20
Duran Junior
High School
St Vincent St
Clair Hospital
Inte
St Clair County
Courthouse
®
rsta
Pell City
High School
0
te 2
Cog
swe
CAPTAIN D’S
Americas
Drive•In
19,20
Ma r tin St N
1 7 ,4 0 0 V P D
0 VPD
231
SM
9,9
00
t S
tin S
48 ,5 00 V PD
Mar
VPD
231
ve
ll A
915 Martin Street S
Pell City, AL 35128
NORTH
20
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID: Y0330285
5
Area Overview & Demographics
915 M a r t i n St r ee t S outh - P ELL C ITY, ALABAMA 351 28
Odenville
281
174
77
411
Lincoln
20
Cook Springs
20
20
77
5
ILE
M
78
78
3
S
DIU
RA
20
78
78
Pell City
DIUS
RA
E
IL
M
78
SITE
ILE
1M
20
Riverside
Wolf Creek
34
34
281
1-Mile
Population
2000 Population
2010 Population
2016 Population
2021 Population
1,593
2,057
2,218
2,323
3-Mile
8,289
10,660
11,476
12,016
5-Mile
15,334
18,982
20,301
21,212
Households
2000 Households
2010 Households
2016 Households
2021 Households
77
1-Mile
3-Mile
5-Mile
637
833
899
943
3,295
4,260
4,591
4,811
6,010
7,506
8,034
8,402
1-Mile
Household (HH) Incomes
2016 Average HH Income $45,498
2016 Median HH Income
$36,131
2016 Per Capita Income
$18,441
3-Mile
5-Mile
$50,044
$38,115
$20,020
$55,675
$44,208
$22,033
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID: Y0330285
6
Market Overview - PELL CITY, ALABAMA
915 M a r t i n St r ee t S outh - P ELL C ITY, ALABAMA 351 28
Introduction to Pell City, Alabama
Pell City, Alabama, in St Clair county, is 30 miles East of Birmingham, Alabama (center to center) and 109 miles West of Atlanta, Georgia. The city benefits from easy access to the
nearby cities and towns with which it shares the Birmingham metropolitan area. Pell City contains a population of approximately 9,565.
Pell City History
Pell City was originally set up by railroad investors in 1890. George H. Pell, from the Pell City Iron and Land Company, was one of the financial backers of the project, and the city
was named after him. On May 6, 1891, the city was incorporated but it almost failed due to the panic of 1893. It was set up again by Sumter Cogswell in 1902. He built the Pell City
Manufacturing Company which later became Avondale Mills. In 1956, Pell City merged with the towns of Eden and Oak Ridge.
Pell City Development and Growth
In the mid-2000s, Pell City experienced a period of rapid residential and commercial growth spurred, partly, by the opening of the Honda Plant in nearby Lincoln, Alabama, a new
industrial park on its northeastern border, and by a new retail area on the north side of I-20 anchored by a Wal-Mart, Home Depot, and several fast food and casual dining restaurants.
A Publix supermarket, small shopping center, and several restaurants have opened on the south end of Pell City. These developments will spur growth on the end of town that has
a sizable, affluent population, but has been under-served by commercial development.
In 2015, Pell City residents voted to legalize the sale of alcohol on Sundays. A study commissioned by the City of Pell City projected a $6.8 million economic impact from the passage
of this legislation.
The City announced in June 2016 that it had entered into an agreement with Premiere Cinemas to develop a new 40,000-square foot entertainment center which would include
seven movie screens, a 10-lane bowling alley, a cafe, arcade and event rooms. The complex is scheduled to open in the Spring of 2017.
Things To Do In Pell City
There are a number of notable locations in the city including the Showboat Camp, Knoxs Landing, and the Pell City Civic Center. The Pell City Public Library offers a host of
information about the local history and culture. The churches around the town are also worth visiting. The Pell City Plaza Shopping Center offers a range of shopping facilities. The
city’s creeks and lakes offer opportunities to indulge in water sports.
Pell City Higher Education
Residents of Pell City can enroll at Samford University and Jefferson State Community College. Other universities and colleges nearby include Jacksonville State University and
Gadsden State Community College.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate.
Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of © 2016 Marcus & Millichap. Activity ID: Y0330285
7