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.
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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]
Taco Bell NNN InvestmentEXECUTIVE SUMMARY
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
5DAVE DELATORRET 619 247 8585 [email protected]
Taco Bell NNN InvestmentEXECUTIVE SUMMARY
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.
6DAVE DELATORRET 619 247 8585 [email protected]
Taco Bell NNN InvestmentSITE PLAN
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7DAVE DELATORRET 619 247 8585 [email protected]
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
8DAVE DELATORRET 619 247 8585 [email protected]
SUBJECT PROPERTY
8686
Oakdale Mall
Wegman’s Plaza
UHS Wilson Medical Center
Johnson CityHigh School
9DAVE DELATORRET 619 247 8585 [email protected]
Taco Bell NNN InvestmentMAPS
SUBJECT PROPERTY
SUBJECT PROPERTY
10DAVE DELATORRET 619 247 8585 [email protected]
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
11DAVE DELATORRET 619 247 8585 [email protected]
Wegman’s Johnson City Liquor & Wine Speedway Fuel
Guitar Center Hampton Inn U-Haul
Taco Bell NNN InvestmentTRADE AREA
Wegman’s Plaza
12DAVE DELATORRET 619 247 8585 [email protected]
Walmart Party City Petco, Christmas Tree Shops, Toys R Us, Lumber Liquidators, Five Below, Party City
Five Below Burlington Coat Factory JCPenney
Taco Bell NNN InvestmentTRADE AREA
Big Box Retail
13DAVE DELATORRET 619 247 8585 [email protected]
Papa John’s Pizza Friendly’s Subway
Ground Round Best Western Plus La Quinta Inn & Resort
Taco Bell NNN InvestmentTRADE AREA
Dining & Hospitality
14DAVE DELATORRET 619 247 8585 [email protected]
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
15DAVE DELATORRET 619 247 8585 [email protected]
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
7486 La Jolla Boulevard, Suite 173La Jolla, California 92037