Corporate Burger King
Mayodan, North Carolina
Representative photo
6.75% cap rate | $2,016,600
2
6703 NC Highway 135
Mayodan, NC 27027
Disclaimer
The Confidential Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the
information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon
assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective
purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available to
qualified prospective purchasers.
In this Confidential Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents.
This Confidential Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to
rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to
terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser
reviewing this Confidential Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has
been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser’s obligations therein have been satisfied or
waived.
This Confidential Memorandum may be used only by parties approved by the Owner. The Property is privately offered, and by accepting this Confidential Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Confidential Memorandum and its contents are of
a confidential nature and will be held and treated in the strictest confidence. No portion of this Confidential Memorandum may be copied or otherwise
reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. or Owner/Seller. The terms and conditions set forth
above apply to this Confidential Memorandum in its entirety and all documents, disks and other information provided in connection therewith.
P. 2 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
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6703 NC Highway 135
Mayodan, NC 27027
For additional information, please contact:
Sheree Strome, CCIM
VP | National Net Lease
Investment Group
(404) 876-1640 x 122
SStrome@BullRealty.com
Keelee Peterson
VP | National Net Lease
Investment Group
(404) 876-1640 x 172
KPeterson@BullRealty.com
Bull Realty, Inc.
50 Glenlake Parkway
Suite 600
Atlanta, GA 30328
www.BullRealty.com
Table of Contents
Executive Summary
4
Financial Overview
5
Aerial View
6
Retail Aerial View
7
Demographics and Traffic Count
8
About The Area
9
Broker Profiles
10
Confidentiality Agreement
11
P. 3 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
4
6703 NC Highway 135
Mayodan, NC 27027
Highlights

Corporate Lease

6.75% cap rate

$136,125 NOI

Rental Increase in November 2017

Absolute NNN

Outparcel to Wal-Mart Supercenter

10% rental Increases every 5 years
Executive Summary
Bull Realty is pleased to offer “FOR SALE” this Corporate Burger King in Mayodan, North Carolina. This
+/- 2,570 sq ft absolute net lease location rests perfectly in the area’s developing retail corridor and is
an outparcel to a Wal-Mart Supercenter. McMichael High School is also located near the site, making it
an excellent stop for students. Constructed in 2007, this Burger
King is corporately guaranteed by the Burger King Corporation.
The original 15 year lease is set to expire in November of 2022
and is comprised of ten percent rental increases every five years;
one of which will take place in 2017! The lease also contains (5)
five year options, each with ten percent rental increases. The
tenant is responsible for all of the expenses for the property,
leaving no landlord responsibilities.
Within a 10-mile radius, the population of Mayodan is 35,000
and has an average home value of over $124,000. The average
household income is over $45,000. Mayodan, North Carolina is
situated in the foothills of North Carolina’s Western Rockingham
County. It is home to numerous companies in the manufacturing industry including Remington Arms,
Frontier Spinning and McMichael Mills. Sturm, Ruger, & Co have announced they will build a new gun
manufacturing plant and will begin production of firearms in Mayodan. Bridgestone Aircraft Tires
relocated from Miami in 2007 to Mayodan.
Tenant Overview:
Burger King Corporation is one of the largest fast food hamburger chains in the world. With over
12,000 locations in all 50 states & 76 countries, Burger King has developed a brand that is recognizable
across the world. Each day, more than 11 million customers visit Burger King Restaurants around the
world.
Offered for SALE at $2,016,600
P. 4 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
5
6703 NC Highway 135
Mayodan, NC 27027
Financial Overview
Lease Summary:
Property Information:
Property Address:
6703 NC Highway 135
Mayodan, NC 27027
Tenant Trade Name:
Burger King
Lease Type:
Corporate Absolute NNN
Price:
$2,016,600
Lease Commencement:
November 16, 2007
Rentable Square Feet:
+/- 2,570 sq ft
Lease Expiration:
November 15, 2022
Price per Square Foot:
$784.67
Renewal Options:
5 five year options
Projected NOI:
$136,125
Rent Increases:
10% in year 16 and with each option
Cap Rate:
6.75%
Percentage Rent Clause:
No
Rent/sq ft:
$52.97/sq ft
First Right of Refusal:
Yes
Year Built:
2007
Lot Size:
0.78 acres
Rent Schedule:
Yrs 1-5:
$10,313.00 mo.
$123,750.00 annually
Yrs 6-10:
$11,344.00 mo.
$123,750.00 annually
Yrs 11-15:
$12,478.00 mo.
$136,125.00 annually
Option 1 (Yrs 16-20):
$13,726.00 mo.
$164,712.00 annually
Option 2 (Yrs 21-25):
$15,099.00 mo.
$181,183.00 annually
Option 3 (Yrs 26-30):
$16,608.00 mo.
$199,301.00 annually
Option 4 (Yrs 31-35):
$18,269.00 mo.
$219,232.00 annually
Option 5 (Yrs 36-40):
$20,096.00 mo.
$241,155.00 annually
Remaining Term
Actual Location
P. 5 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
6



6703 NC Highway 135
Mayodan, NC 27027
Aerial View
13 Miles to Belews Lake
27 Miles to Greensboro
33 Miles to Winston - Salem
Actual Location
P. 6 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
7
6703 NC Highway 135
Mayodan, NC 27027
Retail Aerial View
MCMICHAEL
HIGH
SCHOOL
Coming Soon!
P. 7 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
8
6703 NC Highway 135
Mayodan, NC 27027
Demographics and Traffic Count
2013 Demographics (STDB)
1 mile
Population 374
Households 159
Average Household Income $47,107
Median Age 46.2
3 mile
8,300 VPD
NC HWY 135
Population 6,487
Households 2,855
Average Household Income $46,751
Median Age 44.2
5 mile
Population 14,027
Households 5,874
Average Household Income $47,879
Median Age 44.1
P. 8 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
9
6703 NC Highway 135
Mayodan, NC 27027
About The Area
Mayodan, North Carolina
The town of Mayodan, North Carolina is situated in the foothills
of North Carolina’s Western Rockingham County. It is home to
many companies in the manufacturing industry including Remington Arms, Frontier Spinning and McMichael Mills. Sturm, Ruger, &
Co have announced they will build a new gun manufacturing plant
and will begin production of firearms in Mayodan. Bridgestone
Aircraft Tires relocated from Miami in 2007 to Mayodan.
The manufacturing industry comprises approximately 35% of
Mayodan’s employment numbers. Major occupations in Mayodan
include production occupations, supervisors of production occupations, material moving workers, truck drivers and sales workers. Full service restaurants are an under exposed industry in
Rockingham County where Mayodan resides. According to CityData.com, Rockingham County has a ratio of 6.62 restaurants per
10,000 people, while the average in North Carolina is 7.57 per
10,000 people.
P. 9 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
10
6703 NC Highway 135
Mayodan, NC 27027
Sheree assists clients with the acquisition and disposition of single tenant
net lease properties in the Southeast with a focus on Quick Service
Restaurants and Dollar Stores in the 7 Southeast states in which she is
licensed: GA, NC, SC, MS, TN AL and FL. Prior to joining Bull Realty, Inc.,
Sheree was a commercial real estate lender for more than 25 years.
Sheree Strome, CCIM
VP | National Net Lease
Investment Group
(404) 876-1640 x 122
SStrome@BullRealty.com
Sheree attended Old Dominion University in Norfolk Virginia where she
obtained a Bachelor of Science degree in Financial Management. Sheree is
currently the President of the Atlanta Chapter of the ODU Alumni
Association. Sheree also holds the prestigious CCIM designation. She is an
active member of the Georgia CCIM Chapter, CREW Atlanta, the Atlanta
Commercial Board of Realtors and is a graduate of the CREW Atlanta
Leadership Class of 2010. Sheree lives in Marietta, GA with her two sons.
Broker Profiles
National Net Lease Team
The National Net Lease Team works with developers, buyers and
sellers throughout the US. They are an excellent resource for
current market trends, cap rates, lender resources, and off as well
as on-market net lease opportunities. They are supported by a full
time licensed assistant, Holly Hollinger, and an outstanding
marketing and research team.
Bull Realty is a U.S. commercial real estate sales and advisory firm
headquartered in Atlanta, Georgia. The firm was founded in 1998
with two primary missions that drive the firm’s decisions every day:
to grow a company known for stellar integrity and reputation, and
provide the best commercial real estate marketing in the nation.
•
Keelee assists clients with the acquisition and disposition of single tenant net
lease properties in the Southeast with a focus on Quick Service Restaurants
and Automotive Supply Stores in the Southeast. Prior to joining Bull Realty,
Inc., Keelee was a commercial real estate lender for more than 10 years.
Keelee Peterson
VP | National Net Lease
Investment Group
(404) 876-1640 x 172
KPeterson@BullRealty.com
Keelee obtained a Bachelor of Arts degree in World History with a minor in
Geography from Kennesaw State University in Georgia. This combination of
majors contributes greatly to Keelee’s research capabilities and
understanding of urban development. Keelee is a member Phi Alpha Theta
and Phi Kappa Phi honor societies and graduated Summa Cum Laude.
Keelee also holds an Associates of Science degree in Business Administration
with an emphasis in Marketing. Keelee lives in Marietta, GA and enjoys
traveling and spending time with her husband and two children.
•
•
•
•
Commercial real estate services include acquisition, disposition,
landlord representation, tenant representation and consulting.
Areas of expertise include office,
retail, industrial, multifamily, land, healthcare, single tenant net
lease, senior housing, special assets, self storage and daycare
properties.
Disposition services can include exposure on up to 375
websites, 17 marketing systems and 4 to 7 e-marketing
systems.
Additional disposition and lease marketing services include
video marketing, social media, auctions and national radio
exposure.
Michael Bull hosts the Commercial Real Estate Show, a weekly
one hour talk radio show about commercial real estate that airs
on 12 radio stations throughout the nation. The show is
available on-demand on iTunes and the show website
CREshow.com.
P. 10 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.
11
6703 NC Highway 135
Mayodan, NC 27027
Confidentiality Agreement
This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of
the undersigned party (“Receiving Party”), the owner of the subject property (the
“Seller”) and undersigned broker Bull Realty Incorporated (“Broker”).
III. Governing Law
This Agreement shall be governed and construed in accordance with the laws of the State
of North Carolina
Now therefore in consideration of the privileges granted to Receiving Party with respect
to receiving certain confidential information, and other good and valuable consideration,
the Receiving Party hereby agrees to the following:
Accepted and agreed to this _______ day of ___________________, 2014.
I. Confidential Information:
Receiving Party will receive confidential information regarding property referred to as
6703 NC Highway 135, Mayodan, NC 27027. Prospect agrees to not disclose to any person that the property may be available for sale or lease, or that discussions or negotiations are taking place concerning the property, nor any terms, conditions, or other facts
with respect to the property, including but not limited to tenant information, lease rates,
lease expirations, income and expenses, and any such possible purchase, including the
status thereof. The term “person” used in this agreement shall be interpreted broadly
and shall include, without limitation, any corporation, company, partnership or individual
other than parties to which Broker approves in writing. Receiving Party may share information with directors, officers, employees, agents, affiliates, counsel, lending sources,
accountants or representatives of Receiving Party that Receiving Party notifies of the
requirements of this Agreement. Receiving Party agrees to not contact the property
owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site.
II. Acting as a Principal:
Receiving Party hereby warrants that it is acting as a principal only, and not as a broker,
regarding this contemplated transaction. Receiving Party acknowledges that Broker is
working an agency capacity as representing the Seller only in this transaction and is the
only Broker involved in this potential transaction. Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a
lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in
any other manner acquire an investment in, joint venture or control of the property,
unless Bull Realty, Incorporated is paid a commission at closing as per separate agreement with Seller.
This agreement will expire two years from the date hereof.
Receiving Party
Signature __________________________________________________________________
Printed Name _______________________________________________________________
Title _______________________________________________________________________
Company Name _____________________________________________________________
Address ____________________________________________________________________
____________________________________________________________________
Email ______________________________________________________________________
Phone _____________________________________________________________________
Fax ________________________________________________________________________
Broker
Signature ___________________________________________________________________
Printed Name ________________________________________________________________
You may return the executed agreement by fax (678) 892-4980 or email.
Sheree Strome, CCIM | Keelee Peterson
Bull Realty, Inc.
50 Glenlake Parkway, Suite 600
Atlanta, GA 30328
NC License #C17910
P. 11 of 11
Information contained herein may have been provided by outside sources and while deemed to be reliable, may be estimated, projected, subject to change, and/or limited in scope, and therefore should not be relied upon as
accurate. Information should be independently confirmed within an applicable due diligence period.