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Restaurant

Applebee's

1609 E 17th Ave, Hutchinson, KS 67501

Listing Price: $1,950,696

Cap Rate
6.15%
Tenant Name
Legacy Apple III
Years Remaining On Lease
15.5
Guarantor
Franchisee Guarantee
Rentable SF
5,002
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.98

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 1609 East 17th Avenue in Hutchinson, Kansas. The site consists of roughly 5,002 rentable square feet of building space on estimated 1.99-acre parcel of land. This Applebee’s is subject to an absolute (NNN) lease, which has approximately 16.5 years of term remaining. The current annual rent is $169,423 and is scheduled to increase by one and a half percent (1.5%) annually starting in year 7 and continuing into each of the four (4), five (5)-year renewal options.

Investment Highlights

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Approximately 16.5 Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually Starting Year 7

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Listing Price: $1,950,696

Cap Rate
6.15%
Tenant Name
Legacy Apple III
Years Remaining On Lease
15.5
Guarantor
Franchisee Guarantee
Rentable SF
5,002
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.98

Investment Highlights

  • Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Approximately 16.5 Years of Lease Term Remaining
  • Attractive Rental Increases | 1.50% Annually Starting Year 7

Investment Overview

Marcus & Millichap is pleased to present the exclusive net lease offering for an Applebee’s located at 1609 East 17th Avenue in Hutchinson, Kansas. The site consists of roughly 5,002 rentable square feet of building space on estimated 1.99-acre parcel of land. This Applebee’s is subject to an absolute (NNN) lease, which has approximately 16.5 years of term remaining. The current annual rent is $169,423 and is scheduled to increase by one and a half percent (1.5%) annually starting in year 7 and continuing into each of the four (4), five (5)-year renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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