Restaurant

Applebee's

320 S Ridge Road, Wichita, KS 67209

Listing Price: $2,153,846

Cap Rate
6.50%
Tenant Name
Legacy Apple III, LLC
Gross SF
6,108
Guarantor
Franchisee Guarantee
Rentable SF
6,108
Price/Gross SF
$352.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.92

Investment Overview

The subject investment property is situated along Ridge Road South, which serves as an access road and intersects with US Route 400. US Route 400 is also referred to as Vietnam Veterans Memorial Highway, boasting just over 67,100 average daily vehicles. Feeding into the highway is Ridge Road South, intersecting with West Maple Street at the corner of the investment property, boasting 30,200 and 16,700 daily vehicles, respectively. There are more than 60,600 individuals residing within a three-mile radius of the property and more than 164,700 individuals 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, Michaels, Office Depot, Dollar Tree, Bath & Body Works, Ulta Beauty, PetSmart, Chick-fil-A, Panera Bread and several other quick service restaurants. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Double Tree, Hilton Garden Inn, SpringHill Suites, Hampton Inn, Clarion Hotel & Suites, Hyatt Regency, and more. This property also benefits from being situated within a mile of the Wichita Dwight D. Eisenhower National Airport, the busiest airport in all of Kansas. Just under two miles from the subject Applebees property is Bishop Carroll Catholic Highschool with over 1,200 students enrolled.

Investment Highlights

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

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: $2,153,846

Cap Rate
6.50%
Tenant Name
Legacy Apple III, LLC
Gross SF
6,108
Guarantor
Franchisee Guarantee
Rentable SF
6,108
Price/Gross SF
$352.63
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.92

Investment Highlights

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

Investment Overview

The subject investment property is situated along Ridge Road South, which serves as an access road and intersects with US Route 400. US Route 400 is also referred to as Vietnam Veterans Memorial Highway, boasting just over 67,100 average daily vehicles. Feeding into the highway is Ridge Road South, intersecting with West Maple Street at the corner of the investment property, boasting 30,200 and 16,700 daily vehicles, respectively. There are more than 60,600 individuals residing within a three-mile radius of the property and more than 164,700 individuals 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, Michaels, Office Depot, Dollar Tree, Bath & Body Works, Ulta Beauty, PetSmart, Chick-fil-A, Panera Bread and several other quick service restaurants. Additionally, several hospitality accommodations are within immediate proximity to the subject investment property. These include: Double Tree, Hilton Garden Inn, SpringHill Suites, Hampton Inn, Clarion Hotel & Suites, Hyatt Regency, and more. This property also benefits from being situated within a mile of the Wichita Dwight D. Eisenhower National Airport, the busiest airport in all of Kansas. Just under two miles from the subject Applebees property is Bishop Carroll Catholic Highschool with over 1,200 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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