Tim Hortons 4760 W Henrietta Rd

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in two, single tenant properties leased to Tim Hortons, (the “Property”) in Monroe County, located in upstate New York. The two Tim Hortons in Rochester and Henrietta are both part of the Rochester MSA that is home to over 1 million residents. Tim Hortons operates on a corporate, fee simple absolute net (NNN) lease with over 15 years of term remaining. The triple-net (NNN) lease structure allows for a hands-free, passive form of ownership. Additionally, the lease features annual increases of the greater of 1% or the change in CPI. Tim Hortons Inc., commonly referred to as Tim’s, Timmie’s or Hortons, is a Canadian multinational coffeehouse and restaurant chain based out of the Toronto area. In 2014, Tim Hortons was acquired with quick service giant, Burger King, creating Restaurant Brands International. Restaurant Brands International (RBI) is one of the world's largest quick service restaurant companies (QSR) with more than $43 billion in annual system-wide sales and 31,070 restaurants in more than 100 countries. As of the three months ending December 31, 2023, system-wide sales for Tim Hortons grew 9.0% over the same period in the previous year reaching $1.85 billion. In Q4 2023, Restaurant Brands International’s consolidated comparable sales increased 5.8% and net restaurants grew 3.9% over the prior year. Additionally, system-wide sales increased 9.6% from Q4 of 2022 and for full year 2023, system-wide sales grew 12.2%. Tim Hortons ended 2023 with its largest number of U.S. restaurant openings in over five years. The brand expanded into new markets including Texas and Georgia while also finalizing agreements with operators to open in other U.S. states such as Arizona, Tennessee, Missouri, Delaware, and New Jersey (QSR Magazine). A study by Placer.ai reported that between Q1 2022 and Q1 2023, weekday visits to coffee shops increased across all four major chains which included Tim Hortons, proving the coffee industry to be inflation proof. As the net lease investment industry remains highly competitive, investors have seen coffee chains as a safe bet for steady returns.

-LONG TERM ABSOLUTE NNN LEASE WITH 15 YEARS REMAINING: Tim Hortons operates on a corporate, fee simple triple-net (NNN) lease with over 15 years of term remaining. The triple-net (NNN) lease structure allows for a hands-free, passive form of ownership.
-ANNUAL INCREASES OF 1% OR CPI: Both of the Tim Hortons leases call for annual increases of the greater of 1% or the change in CPI.
ROCHESTER MSA – Both Tim Hortons properties are located in Monroe County and part of the Rochester, NY MSA, home to a population of over 1 million residents.
-STRONG QSR TENANT: Tim Hortons is a subsidiary of Restaurant Brands International (RBI), one of the world's largest quick service restaurant companies (QSR) with more than $43 billion in annual system-wide sales and 31,070 restaurants in more than 100 countries. As of the three months ending December 31, 2023, system-wide sales for Tim Hortons grew 9.0% over the same period in the previous year reaching $1.85 billion. In Q4 2023, Restaurant Brands International’s consolidated comparable sales increased 5.8% and net restaurants grew 3.9% over the prior year. Additionally, system-wide sales increased 9.6% from Q4 of 2022 and for full year 2023, system-wide sales grew 12.2%.
-PRIME LOCATION: Tim Hortons boasts multiple modes of ingress and egress while sitting at the signalized corner of West Henrietta Road and Lehigh Station Road which combine for 47,900 VPD.
-CONVENIENT INTERSTATE HIGHWAY ACCESS: Tim Hortons in Henrietta is located less than one-half mile off Exit 12A of Interstate 390, a major north south auxiliary Interstate Highway boasting over 84,800 VPD.
-CLOSE PROXIMITY TO TOP HIGHER EDUCATION INSTITUTION: The Henrietta Tim Hortons is located approximately two miles from the Rochester Institute of Technology, a Top 100 National Research University with over 20,500 students and over 4,100 faculty and staff.
-NEARBY RESIDENTIAL DEVELOPMENT: Located less than two miles from Tim Hortons, Marrano Homes developed the Glenbrooke community, a maintenance-free community consisting of 68 ranch style homes.