Restaurant

Applebee's

1001 E 41st St, Hays, KS 67601

Listing Price: $2,370,370

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,008
Guarantor
Franchisee Guarantee
Rentable SF
5,008
Price/Gross SF
$473.32
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.95

Investment Overview

The subject investment property is situated along North Vine Street which boasts average daily traffic counts of approximately 16,000 vehicles and also serves as an access route to Interstate-70, which brings an additional 12,000 vehicles into the immediate area on average daily. There are more than 22,000 individuals residing within a five-mile radius of the property and more than 25,000 individuals within a ten-mile radius.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers and hospitality accommodations all within close proximity. Major national tenants include: Walmart Supercenter, The Home Depot, Hobby Lobby, Goodwill, J.C. Penney, McDonalds, IHOP, Arbys, Subway, Wendys and many other quick service restaurants. Additionally, eight hospitality accommodations are within immediate proximity to the subject investment property. These include: Fairfield Inn, Comfort Inn, Best Western, Hampton Inn, Super 8, Quality Inn and several others. This property also benefits from being situated within a two-mile radius of The University of Kansas Medical Center, a 200-bed medical facility. There is a strong academic presence in the local area as well, Fort-Hays State University is located less than three miles from the subject property and has approximately 13,000 students enrolled.

Investment Highlights

  • Attractive Rental Increases | 1.50% Annually
  • Four (4) Tenant Renewal Periods of Five (5) Years Each
  • 15-Year Triple Net (NNN) Lease with Zero Landlord Responsibilities

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

    License(s): KS: 00241410

    Kansas

Listing Price: $2,370,370

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,008
Guarantor
Franchisee Guarantee
Rentable SF
5,008
Price/Gross SF
$473.32
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.95

Investment Highlights

  • Attractive Rental Increases | 1.50% Annually
  • Four (4) Tenant Renewal Periods of Five (5) Years Each
  • 15-Year Triple Net (NNN) Lease with Zero Landlord Responsibilities

Investment Overview

The subject investment property is situated along North Vine Street which boasts average daily traffic counts of approximately 16,000 vehicles and also serves as an access route to Interstate-70, which brings an additional 12,000 vehicles into the immediate area on average daily. There are more than 22,000 individuals residing within a five-mile radius of the property and more than 25,000 individuals within a ten-mile radius.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers and hospitality accommodations all within close proximity. Major national tenants include: Walmart Supercenter, The Home Depot, Hobby Lobby, Goodwill, J.C. Penney, McDonalds, IHOP, Arbys, Subway, Wendys and many other quick service restaurants. Additionally, eight hospitality accommodations are within immediate proximity to the subject investment property. These include: Fairfield Inn, Comfort Inn, Best Western, Hampton Inn, Super 8, Quality Inn and several others. This property also benefits from being situated within a two-mile radius of The University of Kansas Medical Center, a 200-bed medical facility. There is a strong academic presence in the local area as well, Fort-Hays State University is located less than three miles from the subject property and has approximately 13,000 students enrolled.

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

    License(s): KS: 00241410

    Kansas

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