Single Tenant C-Mac's Fast Casual Restaurant with Drive-Thru

Siloam Springs, AR

Download Offering Memorandum

The Opportunity

Summary

  • Price: $1,704,000
  • Cap Rate: 6.75%
  • NOI: $115,000
  • Lease Type: Fee Simple: NNN
  • Building Size: 3,098 SF
  • Parcel Size: 1.17 Acres
  • Year Built / Renovated: 2000 / 2024
  • Lease Term Remaining: 10 Years
  • Options: Two (2), Five (5) Year Options
  • Rental Increases: 2.00% Annually

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to C-Mac’s, (the “Property”) in Siloam Springs, a city in northwest Arkansas in Benton County. C-Mac’s will operate on a new 10-year triple-net (NNN) lease with two percent (2%) annual rental increases, including in the option periods. C-Mac’s sits as an outparcel to a Harbor Freight and Dunham Sports' anchored shopping center along Highway 412, a main thoroughfare in Siloam Springs that boasts 29,000 VPD. The property features a single-lane drive-thru and multiple modes of accessibility that allows for convenient access to and from Highway 412 (29,000 VPD). The 5-mile area surrounding the property has experienced extensive growth since 2020 with the population and number of households growing by 11.25% and 11.97%, respectively. Both the population and number of households are projected to continue growing by 9.91% and 10.69% respectively through 2028. Within that area, there are multiple residential development projects including Fox Tail Village, Fox Meadow, and Somerset that will add a combined 330 residential lots to support the growing population within the area.

C-Mac’s is a quick service restaurant offering a variety of menu items ranging from burgers and salads to southern-inspired baskets and sandwiches. C-Mac’s lease is supplemented with a personal guaranty from Chris McMillan, the CEO and Founder of Panhandle Restaurant Group, headquartered in Panama City, Florida. Panhandle Restaurant Group was formed by Chris and Amy McMillan, two veterans who spun off from the largest Sonic operator in the nation. They currently operate 10 identified units for Sonic Drive-In, Slim Chickens, and Rib Crib with the vision of operating 100+ units across five concepts in the southeast.

Investment Highlights:

• NEW 10-YEAR NNN LEASE WITH ANNUAL INCREASES – C-Mac’s will operate on a new 10-year triple-net (NNN) lease with two percent (2%) annual rental increases, including in the option periods.

• PRIME LOCATION – C-Mac’s sits as an outparcel to a Harbor Freight-anchored shopping center along Highway 412, a main thoroughfare in Siloam Springs that boasts 29,000 VPD.

• STRONG PLACER.AI PERFORMANCE OF SURROUNDING RETAIL – Highway 412 (29,000 VPD) is home to some of the top performing retailers in the country within each of their respective chains.

• HIGH GROWTH AREA – The 5-mile area surrounding the property has experienced extensive growth since 2020, with the population and number of households growing by 11.25% and 11.97%, respectively. Both the population and number of households are projected to continue growing by 9.91% and 10.69% respectively through 2028.
• DRIVE-THRU WINDOW – The property features a single-lane drive-thru and multiple modes of accessibility that allows for convenient access to Highway 412 (29,000 VPD).

• MULTIPLE NEW & ON-GOING DEVELOPMENTS – In the nearby area surrounding the property, there are multiple residential development projects including Fox Tail Village, Fox Meadow, and Somerset that will add a combined 330 residential lots to support the growing population within the area.

• BUSTLING RETAIL CORRIDOR – Highway 412 serves as the main retail corridor within the area, hosting a number of national retailers in addition to C-Mac’s such as: Walmart Supercenter, Lowe’s Home Improvement, Aldi, Walmart Neighborhood Market, Walgreens, Tractor Supply Co., Harbor Freight Tools, Dollar General, Dollar Tree, AutoZone, O’Reilly Auto Parts, Jiffy Lube, AT&T, McDonald’s, Starbucks, Taco Bell, Popeyes, Wendy’s, Burger King, Panda Express, 7Brew, and IHOP demonstrating the strength of the retail corridor.

• PERSONAL GUARANTY – C-Mac’s lease is supplemented with a personal guaranty from Chris McMillan, the CEO and Founder of Panhandle Restaurant Group, headquartered in Panama City, Florida. Panhandle Restaurant Group was formed by Chris and Amy McMillan, two veterans who spun off from the largest Sonic operator in the nation. They currently operate 10 identified units for Sonic Drive-In, Slim Chickens, and Rib Crib with the vision of operating 100+ units across five concepts in the southeast.

Site Plan

map

Tenant

Ownership: PRIVATE (SUBSIDIARY OF PANHANDLE RESTAURANT GROUP)

Credit Rating: N/R

Headquarters: PANAMA CITY, FL

C-Mac’s is a quick service restaurant offering a variety of menu items ranging from burgers and salads to southern-inspired baskets and sandwiches. C-Mac’s takes pride in serving Southern favorites including hushpuppies, corn nuggets, and po’boy sandwiches.

C-Mac’s was started by Chris McMillan, the CEO and Founder of Panhandle Restaurant Group, headquartered in Panama City, Florida. Panhandle Restaurant Group was formed by Chris and Amy McMillan, two veterans who spun off from the largest Sonic operator in the nation. They currently operate 10 identified units for Sonic Drive-In, Slim Chickens, and Rib Crib with the vision of operating 100+ units across five concepts in the southeast.

Brokerage Team

Steve Schrenk

Steve Schrenk

Principal
Forged Real Estate
(610) 608-2621, ext. 2
James Yi

James Yi

Director
Forged Real Estate
(215) 460-2603
Marco DiPrinzio

Marco DiPrinzio

Senior Director
Forged Real Estate
(610) 608-2621, ext. 5
Greg Zimmerman

Greg Zimmerman

Partner
Forged Real Estate
(610) 608-2621 ext. 3
Marc Mandel

Marc Mandel

Managing Principal
Forged Real Estate
(610) 608-2621, ext. 1