Restaurant

Applebee's

2875 S. Ninth, Salina, KS 67401

Listing Price: $2,074,074

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,470
Guarantor
Franchisee Guarantee
Rentable SF
5,470
Price/Gross SF
$379.17
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.59

Investment Overview

The subject investment property is situated along South Ninth Street, which serves as a service road, running parallel, to the active I-135. To the north, is the Kansas State University Polytechnic Institute Campus which works in tandem with the Salina Regional Airport in aviation. I-135 boasts just over 14,100 vehicles per day and runs south to Wichita. There are more than 32,400 residents within a three-mile radius of the property and more than 48,400 individuals residing within a five-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 of this property. Major national tenants include: Walmart, Lowes, Burger King, Target, Five Guys, Wendys, Courtyard, Arbys, Olive Garden, Pizza Hut, Toyota, Subway, Sonic, Buffalo Wild Wings, and several other quick service restaurants. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Candlewood Suits, Baymont, Courtyard, Hilton Garden Inn, Hampton Inn, Holiday Inn, Best Western, Country Inn & Suites and more. This property also benefits from being situated within two miles of the Kansas State University Polytechnic Campus which shares a portion of its campus with the Salina Regional Airport (KSLN). KSUs Polytech Campus and School of Medicine, just five-miles north, combine to house over 4,000 students.

Investment Highlights

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

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: $2,074,074

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,470
Guarantor
Franchisee Guarantee
Rentable SF
5,470
Price/Gross SF
$379.17
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.59

Investment Highlights

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

Investment Overview

The subject investment property is situated along South Ninth Street, which serves as a service road, running parallel, to the active I-135. To the north, is the Kansas State University Polytechnic Institute Campus which works in tandem with the Salina Regional Airport in aviation. I-135 boasts just over 14,100 vehicles per day and runs south to Wichita. There are more than 32,400 residents within a three-mile radius of the property and more than 48,400 individuals residing within a five-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 of this property. Major national tenants include: Walmart, Lowes, Burger King, Target, Five Guys, Wendys, Courtyard, Arbys, Olive Garden, Pizza Hut, Toyota, Subway, Sonic, Buffalo Wild Wings, and several other quick service restaurants. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Candlewood Suits, Baymont, Courtyard, Hilton Garden Inn, Hampton Inn, Holiday Inn, Best Western, Country Inn & Suites and more. This property also benefits from being situated within two miles of the Kansas State University Polytechnic Campus which shares a portion of its campus with the Salina Regional Airport (KSLN). KSUs Polytech Campus and School of Medicine, just five-miles north, combine to house over 4,000 students.

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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