OFFERING MEMORANDUM
13765 US H IGHWAY 19 S | THOMASVILLE, GAABSOLUTE NNN APPLEBEE’S
AFFILIATED BUSINESS DISCLOSURE
Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 13765 US Highway 19 S (the ”Property”) by ‘Ownership’ (the “Seller”).
This Memorandum does not constitute a representation that the business or affairs of the Property or Seller since the date of preparation (6/15/2020) of this Memorandum have remained the same. Analysis and verification of the information contained in this Memorandum are solely the responsibility of the prospective purchaser.
Additional information and an opportunity to inspect the Property will be made available upon written request of interested and qualified prospective purchasers. Seller and Agent each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property, and/or terminate discussions with any party at any time with or without notice. Seller reserves the right to change the timing and procedures for the Offering process at any time in Seller’s sole discretion. Seller shall have no legal commitment or obligations to any party reviewing this Memorandum, or making an offer to purchase the Property, unless and until such offer is approved by Seller, and a written agreement for the purchase of the Property has been fully executed and delivered by Seller and the Purchaser thereunder.
This Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting this Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not forward, photocopy or duplicate it, that you will not disclose this Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Seller or Agent, and that you will not use this Memorandum or any of the contents in any fashion or manner detrimental to the interest of Seller or Agent.
TABLE OF CONTENTS
EXECUTIVESUMMARY
01PROPERTY
DESCRIPTION
02FINANCIALANALYSIS
03AREA
OVERVIEW
04
EXECUTIVE SUMMARY
01
THE OFFERING
Newmark Knight Frank (NKF) Capital Markets,
as exclusive advisor, is pleased to present the
opportunity to acquire Applebee’s at 13765 US
Highway 19 S (the Property), a 5,414-square-foot
retail project in Thomasville, Georgia.
Applebee’s consists of a single tenant on a NNN
lease. Built in 2002, the property is approximately
5,414 square feet siting on 1.78 acres, located
directly south of Lowe’s Home Improvement with
frontage on US Highway 19. Applebee’s offers an
investor the rare opportunity to acquire a well-
maintained, stable asset in the second largest city in
Southwest Georgia.
13765 US H IGHWAY 19 S | THOMASVILLE, GA 4
PROPERTY SUMMARY OFFERING SUMMARY
APPLEBEE’S13765 US Highway 19 SThomasville, GA 31792
5,414 SF Total Building Area
2002 Year Built/Remodel
1.78 ACLot Size
046HTH 128 CParcel Number
C-1Zoning
NNNLease Type
10+ YearsLease Term Remaining
1% AnnualRent Increases
OFFERING PRICE $1,936,684
CAP RATE 7.5%
NOI $147,276.30
CORPORATE GUARANTEE
Neighborhood Restaurant Partners Florida, LLC (a large franchisee with 100+ locations and a subsidiary of Argonne Capital)
13765 US H IGHWAY 19 S | THOMASVILLE, GA 5
NEARBY RETAILERS
SITE
®
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U.S. HIGHWAY 19 S
U.S. HIGHWAY 19 S
SMITH AVE.
SMITH AVE.
WIL
LIAM
SBURG AVE
.
WIL
LIAM
SBURG AVE
.
13765 US H IGHWAY 19 S | THOMASVILLE, GA 6
PROPERTY DESCRIPTION
02
ABOUT THE FRANCHISOR
ABOUT THE FRANCHISEE
Applebee’s Neighborhood Grill & Bar began as a small Atlanta eatery 40 years ago, in 1980, and is now one of the world’s largest
full-service dining companies. Dine Brands Global, the franchisor of Applebee’s Neighborhood Grill & Bar and IHOP, operates
over 3,700 locations in approximately 20 countries. As a U.S.-based restaurant franchise, the chain is headquartered in Glendale,
California and operates within the grill and bar segment of the restaurant industry’s casual dining category. Applebee’s serves
menus that range from traditional American fare to regional specialties.
Neighborhood Restaurant Partners Florida, LLC, is a subsidiary of Argonne
Capital Group and was founded in 2003. Argonne Capital Group is a closely-
held private investment firm that seeks to make equity investments in a diverse
range of middle market enterprises. Since they began, Argonne has completed
22 acquisitions and boasts a portfolio that generates $1.6 billion in annual sales
and employs over 32,000 people. Argonne is the fourth largest Applebee’s
franchisee with approximately 120 locations and has additional holdings in some
of the nation’s strongest brands including IHOP, On The Border, Planet Fitness,
John Deere, and Sonny’s BBQ.
Franchisee Name Argonne Capital Group
GuarantorNeighborhood Restaurant Florida Partners, LLC
Annual Sales $1.8 Billion (2019)
Employees 32,000+
Applebee’s & IHOP Units 420+
INVESTMENT HIGHLIGHTS INCLUDE:
• Absolute NNN Applebee’s with over 10 years remaining on the Lease Base Term
• Frontage on US Highway 19
• In the same parking lot as Lowe’s
• Ample On-Site Parking
• Lease Guaranteed by Neighborhood Restaurant Florida Partners, LLC
*Note: This lease has a corporate guarantee by Neighborhood Restaurant Florida Partners, LLC, which has over 100 locations rolled into that entity. While
Argonne Capital is the parent company of Neighborhood Restaurant Florida Partners, LLC, that parent entity does not guarantee this lease.
13765 US H IGHWAY 19 S | THOMASVILLE, GA 8
SITE PLAN
CIVIL ENGINEERS - SURVEYORS - LANDSCAPE ARCHITECTS
800 E. WASHINGTON ST, STE. B GREENVILLE, SC 29601PH: (864)271-0496 FAX: (864)271-0402
www.sitedesign-inc.com
SCF REALTY CAPITAL LLC
13765 US H IGHWAY 19 S | THOMASVILLE, GA 9
FINANCIAL ANALYSIS
03
LEASE ABSTRACTLEASE SUMMARY
Tenant's DBA Applebee’s Grill & Bar
Company Type Private
Lease Entity: Neighborhood Restaurant Partners Florida Two, LLC
Lease Guarantor: Neighborhood Restaurant Partners Florida, LLC
Lease Type: NNN
Lease Commencement: December 1, 2010
Original Term: 17 Years
Lease Expiration: May 31, 2031
Lease Term Remaining: 10+ Years
NOI: $147,276.30
Rent Increases: 1% Annual Increases
Options To Renew: Two (2), Five (5) Year Options
13765 US H IGHWAY 19 S | THOMASVILLE, GA 11
AREA OVERVIEW
04
3 MILE RADIUS | AT-A-GLANCE
21,260Residents
41.0Median Age
Thomasville is the second largest city in Southwest Georgia with a
residential population of 46,145. Offering numerous cultural events
and historical attractions, Thomas draws a steady stream of regional
tourism business in addition to two major corporate headquarters.
First, FlowerFoods is a publicly traded company and the second largest
producers of packaged bakery foods in the United States with brands
including Nature’s Own, Dave’s Killer Bread and Tastykake. It operates
47 bakeries across the country and employs over 9,000 people. Second,
Senior Life Insurance is national insurance company with almost 500
employees and agents. Thomasville is also home to two higher education
institutions, Southern Regional Technical College and Thomas University.
AREA OVERVIEW: THOMASVILLE, GEORGIA
8,742Households
$54,854Average Income
13765 US H IGHWAY 19 S | THOMASVILLE, GA 13
APPLEBEE’S13765 US H IGHWAY 19 S | THOMASVILLE, GA
13765 US H IGHWAY 19 S | THOMASVILLE, GA 14
EXCLUSIVELY LISTED BY
Newmark Knight Frank (the “Agent”) has been engaged as the exclusive sales representative for the sale of 13765 US Highway 19 S (the ”Property”) by ‘Ownership’ (the “Seller”). The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
CHASE DORSETT Associate
602.952.3844 [email protected]
DREW FLEMING Senior Managing Director
Lic# SL3268867
STEVE JULIUS Senior Managing Director
602.952.3845 [email protected]
JESSE GOLDSMITH Senior Managing Director
602.952.3846 [email protected]