Overview

Description

NNN Investment Advisors is pleased to present this exclusive listing for a single tenant net lease Value Pawn and Jewelry in Fern Park (Orlando), Florida. The property was remodeled in 2013, consists of approximately 6,200 square feet of building space and is situated on a prime 0.50 acre parcel. There are 10 years remaining on the original 15-year net lease with minimal landlord responsibilities limited to roof and structure and rare 10% rental increases every 5 years with two, five-year options. The lease is guaranteed by EzCorp (NASDAQ: EZPW), founded in 1978 and has grown into a leading provider of short term loans and resale merchandise, operating over 1,500 locations across North America with 190 locations in the U.K. with reported 2017 record revenues of $435 million and $32 million in net income.

The Subject property is located in the heart of Seminole County situated directly on Highway US 17-92 (over 54,000 VPD) and just west of US Highway 436/Semoran Blvd (over 84,000 VPD) benefiting from a high volume of consumer traffic along the dominant retail throughfare serving Fern Park, Altamonte Springs and surrounding Orlando communities. The property is directly across from Lowe’s Home Improvement with many national credit tenants in the immediate trade area including Ross, Beall’s, Target, PetSmart, McDonald’s, Bed, Bath & Beyond, Sam’s Club, Home Depot, Chick-fil-A, Staples, AutoZone, Starbucks, Dunkin Donuts, Walgreens, Chipotle and many more. Altamonte Town Center, a 25-acre, 1.5 million SF mixed-use lifestyle and entertainment development is only 3 miles away.

EZCORP, Inc. (NASDAQ: EZPW), is a market leader in the specialty consumer finance industry dedicated to satisfying the short-term cash needs of consumers who find themselves both cash and credit constrained. Founded in 1989, EZCORP operates more than 1,570 stores.

The company also has significant investments in Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.’s largest pawn brokering businesses with over 190 stores, and Cash Converters International Limited (CCV.L and CCV.AUS), which franchises and operates a worldwide network of almost 700 stores that provide financial services and sell pre-owned merchandise.

2017 revenues were a record $435 million and net income was $32 million.

Highlights

• Long Term Income Stream - 10 Years Remaining on Original 15-Year Lease
• Rare 10% Rental Increases Every 5 Years Including Options
• Corporate Guaranteed Lease - Publicly Traded, Multinational Company Founded in 1978 with over 1,500 Locations and Annual Revenue of $435 million and $32 Million Net Income
• Dense Trade Area - 72 million Visitors in 2017 Spending over $40 billion. ±91,119 People within 3 Mile Radius, ±249,639 People within 5 Mile Radius
• Highly Visible Location - Prominent Signage and Frontage on S. Hwy 17-92 with Over 129,000 VPD at the corner of Hwy 17-92 & Semoran Blvd.
• Significant Surrounding Retail - Located on Dominant Retail Thoroughfare Directly across from Lowe’s and Surrounded by Many National Credit Tenants Including Ross, Target, Beall’s and more. Minutes from Altamonte Town Center, 25-acre, 1.5m SF lifestyle center.
• Booming Economy - No. 1 Growing Job Market in the U.S. Centrally Located in Orlando MSA with Population over 2.3 million. Over 150 Companies with Significant Presence from over 120 Countries.

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