MIDAS AUTO NNN 4125 Tamiami Tr. Pt Charlotte, Florida Offering Memorandum

Transcription

1 MIDAS AUTO NNN 4125 Tamiami Tr. Pt Charlotte, Florida Offering Memorandum

2 OFFERING : PRICE: $999,581 CAP RATE: 7.5% ANNUAL RENT: $74, July 31,2015 LEASE SUMMARY: Tenant: Midas Corporation - purchased by TBC Corp Lease Type: Lease Term: NNN 20 years Start/Expiration: 8/1998 to 7/2018 Escalations: First Right Offer: Options: CPI max 4% every 2 years None Two 5-year options SITE SUMMARY: ADDRESS: 4125 Tamiami Trail (US 41) Port Charlotte, FL LAND: BUILDING: 16,000 sf 4,970 sf AGE: 1985 USE: Auto Garage Repair

3 Company Description MIDAS Owned by the New York arm of Japanese giant Sumitomo Corporation, tire distributor TBC Corporation paid millions for the Midas touch. The company acquired about 69% of Midas, Inc. for $173 million plus $137 million in assumed debt. Beyond the controlling stake, TBC intends to exercise a top-up provision whereby it can purchase additional shares of Midas without stockholder approval. It s expected that Midas will no longer trade on NASDAQ when the merger is fully completed. Who is TBC, you say? If you drive a vehicle that has tires that eventually need to be replaced or repaired, you know. It operates more than 730 retail locations under the Tire Kingdom, Merchant s Tire and Auto Centers, and National Tire & Battery (NTB) banners and sells tires through more than 500 Big O Tires stores in 20 US states and Canada. Acquiring Midas boosts TBC s business overnight. The historied Illinois-based car repair chain operates about 1,480 franchised and companyowned stores across the US and Canada, as well as 775 locations overseas. Midas also runs 160 quicklube and maintenance shops under the SpeeDee Oil Change banner in the US and Mexico. (It acquired SpeeDee in 2008 for some $20 million.)

4 PROPERTY PHOTGRAPHS

5 AERIAL MIDAS 4125 Tamiami Tr Port Charlotte, FL 33952

6 AREA INFORMATION PORT CHARLOTTE Found along Florida's welcoming Gulf Coast, Port Charlotte is located about halfway between Sarasota and Fort Myers, perfectly positioned to offer every manner of water-borne activities. It has more than 165 miles of waterways, providing access to Charlotte Harbor and the Gulf of Mexico and many more miles of natural shoreline bordering Charlotte Harbor and the Peace and Myakka rivers. But that's not all. Seven of the 21 golf courses located in Charlotte County are found in Port Charlotte. Charlotte Sports Park is home to spring training for the Tampa Bay Rays. Tippecanoe Environmental Park offers hiking trails and wildlife viewing through 380 acres of scrub and pine flat-woods. Port Charlotte is an unincorporated community and censusdesignated place in Charlotte County, Florida, United States. The population was 54,392 at the 2010 census with 4.4% annual growth since Charlotte County's business climate is strong and vigorous, meeting the needs of one of the fastest growing areas in the county. Its no secret that the county has the finest "quality of life" as evidenced by the repeated recognition in MONEY and other national magazines. Traffic Counts: Tamiami Trail aka US Hwy 41 55,000 Cars per day DEMOS: 1- Miles 3- Miles Population ,639 32,317 HH Avg Income $52,696 $49,787 3yr POP Growth 4.04% 4.04%

7 AREA MAPS 4125 Tamiami Trail, Port Charlotte FL 33952

8 For more information regarding this opportunity, please contact: SAM NASRALLAH Charles Wayne Properties, Inc. 200 Ocean Ave., Ste 202 Melbourne Beach, FL PH ; Fax nnnman@aol.com This sales brochure is subject to errors, omissions, prior sales or withdrawal without notice. The information contained in this investment Prospectus has been obtained from sources we believe to be reliable; however neither CWP, Inc. nor the Seller have verified, and will not verify, any of the information contained herein, nor has CWP, Inc. and the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. D i s c l a i m e r