Burger King
2408 NW 9th St, Corvallis, OR 97330
Offering Memorandum
™
R E T A I L
A D V I S O R S
C O NFIDENTIALIT Y & DI SCLAIMER STATEMENT
This Offering Memorandum contains select information pertaining to the business and affairs of Burger King located at 2408 NW 9th
St, Corvallis, OR 97330 (“Property”). It has been prepared by Matthews Retail Advisors . This Offering Memorandum may not be
all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering
Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is
not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews
Retail Advisors . The material is based in part upon information supplied by the Seller and in part upon financial information
obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty,
express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal
liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and
form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum for the Property, you agree:
1. The Offering Memorandum and its contents are confidential;
2. You will hold it and treat it in the strictest of confidence; and
3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents
in any fashion or manner detrimental to the interest of the Seller.
Owner and Matthews Retail Advisors expressly reserve the right, at their sole disc retion, to reject any and all expressions
of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering
Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of
the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such
negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information
provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed
Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims
against Seller or Matthews Retail Advisors or any of their affiliates or any of their respective officers, Directors, shareholders,
owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the
marketing or sale of the Property.
This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that
there has been no change in the state of affairs of the Property since the date this Offering Memorandum.
Matthews Retail Advisors
Table of Contents
Pricing & Financial Analysis
Investment Highlights.................................................... 2
Executive Summary...................................................... 3
Company Overview .................................................... 4
Property Description
Physical Description...................................................... 7
Tenant Map................................................................. 8
Regional Map.............................................................. 9
Bird’s Eye.................................................................. 10
Demographics
City Overview | Corvallis, OR..................................... 12
Demographics Report................................................. 13
EXCLUSIVELY LI STED BY:
Gary Chou
Director | Restaurant Practice Group
direct +1.310.919.5827
MOBILE +1.714.928.8016
gary.chou@matthews.com
License No. 01911222
Broker of Record Name
Broker of Record
License No. 00881133
Matthews Retail Advisors
Pricing & Financial Analysis
PRICING AND FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
DEMOGRAPHICS
Investment Highlights
INTERNATIONAL BRAND
• Highly Recognized National Brand – Burger King is the second largest hamburger chain in the world
with over 13,000 stores in operations
STRONG DEMAND FOR REAL ESTATE
• Niche Market – Demand for property in the Pacific Northwest is consistently growing and historically
strong as few products come to market in this region.
• Strong Retail Corridor - Other national tenants include Arby’s, Cold Stone, McDonald’s, Taco Bell,
AutoZone, Rite Aid Pharmacy, Staples, Kmart, Safeway Pharmacy, Home Depot, 7-Eleven, Office Max
among others
• Oregon State University – Corvallis is home to Oregon State University which has over 28,000 students
enrolled
GREAT FOR OUT-OF-STATE INVESTORS
• Absolute NNN Investment – Zero landlord responsibility making this investment great for out of state
investors looking for passive income.
P. 2
Matthews Retail Advisors
OFFERING MEMORANDUM | Burger King
PRICING AND FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
DEMOGRAPHICS
Executive Summary
Burger King
2408 NW 9th St
Corvallis, OR 97330
Annualized Operating Data
Current - 8/31/2017
Monthly Rent
Annual Rent
CAP Rate
$4,263.17
$51,158.04
9.00%
List Price...............................................................................................$569,000
CAP Rate - Current�����������������������������������������������������������������������������������9.00%
Gross Leasable Area������������������������������������������������������������������������� 2,700 SF
Lot Size ......................................................................... 0.8 Acres (34,848 SF)
Year Built��������������������������������������������������������������������������������������������������������1995
Tenant Summary
Tenant Trade Name
Burger King
Type of Ownership
Fee Simple
Lease Guarantor
Franchisee
Lease Type
Roof and Structure
Original Lease Term
Lease Commencement Date
Rent Commencement Date
Lease Expiration Date
Term Remaining on Lease
Increases
Options
Burger King | OFFERING MEMORANDUM
NNN
Tenant
20 Years
7/19/1996
9/1/1997
8/31/2017
2 Years
None - Percentage Rent
Two (2) 5-Year Options
Matthews Retail Advisors
P. 3
PRICING AND FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
DEMOGRAPHICS
Company Overview
Property Name
Property Type
Parent Company Trade Name
Ownership
Credit Rating
Rating Agency
Burger King
Net Leased Quick Service Restaurant
Restaurant Brands International Inc.
Public
B+
Standard & Poor’s
Revenue
$1.97 B
Net Income
$117.7 M
Stock Symbol
Board
NYSE
No. of Locations
No. of Employees
Headquartered
Web Site
Year Founded
P. 4
QSR
Matthews Retail Advisors
±13,000
±34,000
Miami, FL
http://www.bk.com/
1953
Burger King is a global chain of hamburger fast food restaurants
headquartered in Miami, Florida. The company began in 1953 as
Insta-Burger King. but after financial difficulties in 1954, two large
franchisees in Miami, purchased the company and renamed
it Burger King. In 2002, a third set of owners, a partnership of
TPG Capital, Bain Capital, and Goldman Sachs Capital Partners,
took it public. Eight years later, 3G Capital of Brazil acquired a
majority stake in BK and the new owners promptly initiated a
restructuring of the company to reverse its declining market
share. 3G, along with partner Berkshire Hathaway, merged the
company with Canadian-based doughnut chain Tim Hortons
under a new Canadian-based parent company, Restaurant
Brands International which was founded on August 25, 2014. The
multinational giant currently serves customers in US and Canada,
Europe, Middle East and Africa, Latin America, the Caribbean,
and Asia Pacific.
OFFERING MEMORANDUM | Burger King
Property Description
PRICING AND FINANCIAL ANALYSIS
P. 6
Matthews Retail Advisors
PROPERTY DESCRIPTION
DEMOGRAPHICS
OFFERING MEMORANDUM | Burger King
PROPERTY DESCRIPTION
PRICING AND FINANCIAL ANALYSIS
DEMOGRAPHICS
Physical Description
THE OFFERING
Property Name..................................................................................... Burger King
Property Address........................................................................ 2408 NW 9th St
Corvallis, OR 97330
Assessor’s Parcel Number������������������������������������������������������������������������063143
SITE DESCRIPTION
Number of Stories���������������������������������������������������������������������������������������������One
Year Built..............................................................................................................1995
Gross Leasable Area (GLA)������������������������������������������������������������������� 2,700 SF
Lot Size............................................................................... 0.8 Acres (34,852 SF)
Type of Ownership................................................................................Fee Simple
Landscaping.........................................................................................Professional
Topography.................................................................................... Generally Level
CONSTRUCTION
Foundation........................................................................................Concrete Slab
Framing..............................................................................................................Wood
Exterior............................................................................................. Painted Stucco
Parking Surface.............................................................................................Asphalt
Roof.........................................................................................................................Flat
Burger King | OFFERING MEMORANDUM
Matthews Retail Advisors
P. 7
PRICING AND FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
DEMOGRAPHICS
Tenant Map
P. 8
Matthews Retail Advisors
OFFERING MEMORANDUM | Burger King
PRICING AND FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
DEMOGRAPHICS
Regional Map
Burger King | OFFERING MEMORANDUM
Matthews Retail Advisors
P. 9
PRICING AND FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
DEMOGRAPHICS
Bird’s Eye
P. 10
Matthews Retail Advisors
OFFERING MEMORANDUM | Burger King
Demographics
PRICING AND FINANCIAL ANALYSIS
PROPERTY DESCRIPTION
DEMOGRAPHICS
City Overview | Corvallis, OR
Corvallis is nestled in the heart of Oregon’s Willamette Valley, within 90 minutes of the Portland Metropolitan area. The city is located near world class skiing, and the
spectacular Oregon coast, and wonderful outdoor activities. Corvallis has a residential population of 56,535 and is home to Oregon State University.
The city offers year round culinary, cultural, and outdoor adventures, making it an ideal spot for visitors. Outdoor attractions include beautiful scenery such as Mary’s
Peak, Alsea Falls, and the William L. Finley National Wildlife Refuge where you can hike, bike, and run. Those interested in dining will enjoy the city’s renowned chefs,
winemakers, brew masters, and distillers who provide top quality foods and beverages. Corvallis is an excellent college town as well, as Oregon State University’s
main campus is located there. The 400 acre campus includes a historic district and has been ranked one of the top colleges in the area.
Corvallis is an award-winning city that has been recognized as one of the best college towns, one of the top ten places to live, and as having the highest Peace Corps
volunteers per capita, the most green buildings per capita, and was ranked #1 in patents per capita. The city was recognized for exceeding standards established by
the International City Manager’s Association Center for Performance Measurement and was ranked #1 on the Environmental Protection Agency’s national list of Green
Power Communities. Their 2020 Vision Statement, developed with extensive citizen input, provides a blueprint for the community.
P. 12
Matthews Retail Advisors
OFFERING MEMORANDUM | Burger King
PRICING AND FINANCIAL ANALYSIS
DEMOGRAPHICS
PROPERTY DESCRIPTION
Demographics Report
Burger King | OFFERING MEMORANDUM
Population
2020 Projection
2015 Estimate
2010 Census
2000 Census
Growth 2015-2020
Growth 2010-2015
Growth 2000-2010
1-Mile
10,607
10,348
10,169
10,307
2.50%
1.76%
-1.34%
3-Mile
46,303
45,365
44,783
43,373
2.07%
1.30%
3.25%
5-Mile
66,627
64,609
62,929
57,604
3.12%
2.67%
9.25%
Households
2020 Projection
2015 Estimate
2010 Census
2000 Census
Growth 2015-2020
Growth 2010-2015
Growth 2000-2010
4,945
4,750
4,542
4,391
4.11%
4.58%
3.44%
19,406
18,756
18,146
17,095
3.47%
3.36%
6.14%
27,755
26,678
25,634
22,803
4.04%
4.07%
12.42%
Income
$0 - $15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $124,999
$125,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $499,999
$500,000+
2015 Est. Average Household Income
2015 Est. Median Household Income
19.64%
15.39%
13.62%
10.61%
14.46%
8.82%
7.66%
3.16%
3.52%
1.26%
1.37%
0.46%
$58,591
$36,890
26.11%
12.72%
9.92%
10.62%
11.75%
9.13%
8.03%
3.72%
4.61%
1.53%
1.43%
0.43%
$59,748
$36,764
26.11%
12.72%
9.92%
10.62%
11.75%
9.13%
8.03%
3.72%
4.61%
1.53%
1.43%
0.43%
$65,034
$43,833
Matthews Retail Advisors
P. 13
Burger King
2408 NW 9th St
Corvallis, OR 97330
OFFERING MEMORANDUM
Gary Chou
Director | Restaurant Practice Group
direct +1.310.919.5827
MOBILE +1.714.928.8016
gary.chou@matthews.com
License No. 01911222
Matthews Retail Advisors | 841 Apollo Street, Suite 150 | El Segundo, CA 90245 | www.Matthews.com
™
Broker of Record Name
Broker of Record
License No. 00881133