Restaurant

Applebee's

1609 E 17th Ave, Hutchinson, KS 67501

Listing Price: $2,074,074

Cap Rate
6.75%
Tenant Name
Legacy Apple III, LLC
Gross SF
5,002
Guarantor
Franchisee Guarantee
Rentable SF
5,002
Price/Gross SF
$414.65
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.99

Investment Overview

The subject investment property is situated along East 17th Avenue, which intersects with Ken Kennedy Freeway. Ken Kennedy Freeway experiences an average traffic count exceeding 9,000 vehicles per day. There are more than 48,000 individuals that reside within a five-mile radius of the subject property and more than 54,500 individuals within a 10-mile radius.
This Applebees property is strategically situated in a highly dense retail corridor that features a healthy mix of local and national retailers, hospitality accommodations, healthcare facilities, and academic institutions, all within close proximity of the site. Major national tenants in the immediate area include: Hutchinson Mall (30+ Stores), Walmart, Home Depot, Lowes, Aldi, McDonalds, Chick-fil-A, Starbucks, Arbys, Qdoba, Subway, in addition to many others. Several hospitality accommodations lie within walking distance of the subject property, including: Days Inn & Suites, Comfort Inn & Suites, Fairfield Inn & Suites, Red Coach Inn & Suites, Hampton Inn and Holiday Inn Express. Hutchinson Regional Medical Center, a 200-bed medical facility, is located within walking distance of the subject property. The subject property additionally resides in a strong academic artery, being located within two miles of Hutchinson Community College, Hutchinson High School, Trinity Catholic Jr./Sr. High School and Graber Elementary School. Together, these academic institutions boast a total combined enrollment exceeding 7,800 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
5,002
Guarantor
Franchisee Guarantee
Rentable SF
5,002
Price/Gross SF
$414.65
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.99

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 East 17th Avenue, which intersects with Ken Kennedy Freeway. Ken Kennedy Freeway experiences an average traffic count exceeding 9,000 vehicles per day. There are more than 48,000 individuals that reside within a five-mile radius of the subject property and more than 54,500 individuals within a 10-mile radius.
This Applebees property is strategically situated in a highly dense retail corridor that features a healthy mix of local and national retailers, hospitality accommodations, healthcare facilities, and academic institutions, all within close proximity of the site. Major national tenants in the immediate area include: Hutchinson Mall (30+ Stores), Walmart, Home Depot, Lowes, Aldi, McDonalds, Chick-fil-A, Starbucks, Arbys, Qdoba, Subway, in addition to many others. Several hospitality accommodations lie within walking distance of the subject property, including: Days Inn & Suites, Comfort Inn & Suites, Fairfield Inn & Suites, Red Coach Inn & Suites, Hampton Inn and Holiday Inn Express. Hutchinson Regional Medical Center, a 200-bed medical facility, is located within walking distance of the subject property. The subject property additionally resides in a strong academic artery, being located within two miles of Hutchinson Community College, Hutchinson High School, Trinity Catholic Jr./Sr. High School and Graber Elementary School. Together, these academic institutions boast a total combined enrollment exceeding 7,800 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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