3002 Pines Mall Drive Pine Bluff Arkansas 71601

Transcription

1 3002 Pines Mall Drive Pine Bluff Arkansas *Site is getting updated to this model IEB Real Estate, LLC Nick H. Pass 20 South Central Ave. Ste. 206 St. Louis MO Direct: (314) In Association with: Flake & Kelley Commercial A Licensed Arkansas Real Estate Broker

2 Overview IEB Real Estate, LLC is pleased to present for sale this single tenant KFC in Pine Bluff, Arkansas. Sales at this location are approximatley 30% higher than the average KFC location. This location is set to be updated to the latest American Showman model at the end of this year! Asking Price: $1,220,000 NOI: $75,103 Cap Rate: 6.15% Lease Exp.: December 31, 2024 Lease Term: Lease Type: Escalations: Options: Lot Size: 7.9 Years Triple Net (NNN) 1% per annum 4 - (5) Year Option 33,301 Square Feet

3 Overview Since 2000 KFC has been operating out of this build-to-suit location. The lease is triple net with no landlord responsibilities. The lease is currently on the original 20 year term and there are four, 5 year options remaining, all with 1% per annum rent increases. Sales at this location are much higher than the national average. The site is located along a strong retail corridor in front of the regional indoor mall. Pine Bluff is located along the Arkansas River, and is part of the Little Rock-North Little Rock-Pine Buff combined statistical area. The site is an out-parcel to The Pines Shopping Mall, and directly across the street from Lowe s Home Improvement. The rents are in-line with the local marketplace. The tenant is K-Mac Enterprises, which is one of the largest fast food franchisees in the country with 293 units. Option Summary Term Lease Commencement Expiration Base Rent Option 1 January 1, 2025 December 31, 2030 $81, Option 2 January, December 31, 2035 $85, Option 3 January 1, 2036 December 31, 2040 $89, Option 4 January 1, 2041 December 31, 2045 $94,417.00

4 Tenant Overview K-Mac Enterprises was founded in 1964 and has grown to 293 units. It is the 25th largest multi-unit franchisee organization in the U.S. and the 4th largest Taco Bell operator. The company s restaurants, franchised from YUM! Brands, are located in Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri, Oklahoma, Tennessee, and Texas. They also own and operate a small number of buffet-style family steak houses franchised from Golden Corral. K-Mac s annual revenues are estimates at over $300 million. Tenant Information Parent Company Trade Name: Yum! Brands, Inc. Ownership: Public Credit Rating: BBB Rating Agency: Standard & Poor s Revenue: $9.00 B Net Income: $1.05 B Stock Symbol: YUM Board: NYSE No. of Locations: +/- 6,100 No. of Employees: +/- 175,000 Headquartered: Louisville, KY Website: Year Founded: 1997 Company Trade Name: K-Mac Enterprises, Inc. Ownership: Private No. of Locations: +/- 293 No. of Employees: +/- 3,000 Headquartered: Fort Smith, AR Website: Year Founded: 1964

5 Demographics Pine Bluff, Arkansas Demographics Population 1 Mile: 1,346 Residents 3 Mile: 10,018 Residents 5 Mile: 29,024 Residents Average Household Income 1 Mile: $40,257 3 Mile: $39,729 5 Mile: $44,473 Median Age 1 Mile: 37 Years 3 Mile: 33 Years 5 Mile: 35 Years

6 Pine Bluff, Arkansas Pine Bluff, Arkansas is home to over 48,000 residents. It is the largest city and the county seat of Jefferson County. Pine bluff is part of the Little Rock-North Little Rock-Pine Buff combined statistical area. The city sits along the West bank of the Arkansas River and is in the Southeast section of the Arkansas Delta, which is only 45 miles from Little Rock. The University of Arkansas at Pine Bluff is home to over 2,800 students. It is an NCAA Division 1 school in the Southwestern Athletic Conference. The school has been in place since 1873 and is the second oldest public institution in the state of Arkansas. The University of Arkansas Pine Bluff recently opened a $3,000,000 business incubator in downtown Pine Bluff. The Pine Bluff Convention Center is one of the state s largest meeting facilities, and hosts a myriad of events from basketball games, to educational exhibits. The Arts and Science Center features theatrical performances and workshops for people of all ages. Some other notable attractions include the Arkansas Entertainers Hall of Fame, Pine Bluff/Jefferson County Historical Museum, and the Arkansas Railroad Museum. Pine Bluff is also home to the Donald W. Reynolds Community Service Center whose goal is to provide grants to improve the quality of life in the area. Also, a new $2,000,000 farmers market pavilion recently opened in downtown Pine Bluff. The largest employers in town are Jefferson Regional Medical Center with 1,575 employees, The University of Arkansas at Pine Bluff with 650 employees, and Union Pacific Railroad with 610 employees. Some other large employers in town include First National Corp., Tyson Foods, and Evergreen Packaging.

7 The Pines Mall The Pines Mall is the regional indoor mall in Pine Bluff. It is home to over 40 tenants including JC Penny, Dillard s, Pines Cinemas 8, and Holiday Inn. The Pines serves the entire Pine Bluff area and has a store for every style, and occasion. Along with shopping there is a full food court that has a selection for any taste.

8 Map

9 Aerial

10 Parcel View

11 Pictures