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Restaurant

Burger King | 10% Cap Rate | 3 Years Remaining

2309 S Seneca St, Wichita, KS 67213

Listing Price: $1,025,000

Cap Rate
10.05%
Tenant Name
Burger King
Years Remaining On Lease
2.8
Gross SF
2,221
Guarantor
Franchisee Guarantee
Rentable SF
2,221
Price/Gross SF
$461.50
Lease Type
Absolute Net
Rent Per Square Feet
$46.39

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 2,221-square-foot building on a 0.86-acre lot in Wichita, Kansas. With an estimated population of approximately 400,000, Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States.

The property has frontage on Seneca Street with multiple ingress and egress points to over 18,000 VPD. The property is in line with national retailers on Seneca St including Family Dollar, O'Reilly Auto Parts, KFC, Circle K, McDonald's, Starbucks, Wendy's, ALDI, and many more. The retail corridor includes a strip mall with over a dozen retailers including Harbor Freight, Chipotle, AutoZone, Ace Hardware, Arby's, and more.

The property is subject to an original 20-year absolute net lease with a strong guarantee from 51-unit Burger King franchisee Genish, Inc. The lease has four 5-year renewal options with five percent rental increases at each option.

Investment Highlights

  • Frontage on Seneca St in Dense Retail Corridor including Family Dollar, O'Reilly Auto Parts, McDonalds, Harbor Freight, ALDI & More
  • Near the Intersection of S Seneca St and W Pawnee St with Traffic Counts over 18,000 and 20,000 VPD Respectively
  • Three-Mile Population of 83,836
  • Multiple Ingress and Egress Points with Access from Both Directions of Traffic
  • Absolute Net Lease with 51-unit Guarantee
  • Consistent Year Over Year Growing Population in Wichita Making it the Largest City in Kansas

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Restaurant

Burger King | 10% Cap Rate | 3 Years Remaining

Listing Price: $1,025,000

Cap Rate
10.05%
Tenant Name
Burger King
Years Remaining On Lease
2.8
Gross SF
2,221
Guarantor
Franchisee Guarantee
Rentable SF
2,221
Price/Gross SF
$461.50
Lease Type
Absolute Net
Rent Per Square Feet
$46.39

Investment Highlights

  • Frontage on Seneca St in Dense Retail Corridor including Family Dollar, O'Reilly Auto Parts, McDonalds, Harbor Freight, ALDI & More
  • Near the Intersection of S Seneca St and W Pawnee St with Traffic Counts over 18,000 and 20,000 VPD Respectively
  • Three-Mile Population of 83,836
  • Multiple Ingress and Egress Points with Access from Both Directions of Traffic
  • Absolute Net Lease with 51-unit Guarantee
  • Consistent Year Over Year Growing Population in Wichita Making it the Largest City in Kansas

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 2,221-square-foot building on a 0.86-acre lot in Wichita, Kansas. With an estimated population of approximately 400,000, Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States. The property has frontage on Seneca Street with multiple ingress and egress points to over 18,000 VPD. The property is in line with national retailers on Seneca St including Family Dollar, O'Reilly Auto Parts, KFC, Circle K, McDonald's, Starbucks, Wendy's, ALDI, and many more. The retail corridor includes a strip mall with over a dozen retailers including Harbor Freight, Chipotle, AutoZone, Ace Hardware, Arby's, and more. The property is subject to an original 20-year absolute net lease with a strong guarantee from 51-unit Burger King franchisee Genish, Inc. The lease has four 5-year renewal options with five percent rental increases at each option.

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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