Skip to main content

Restaurant

Burger King

2150 W 21st St, Wichita, KS 67203

Listing Price: $1,371,340

Cap Rate
6.50%
Tenant Name
Genesh, Inc.
Years Remaining On Lease
4.3
Guarantor
Franchisee Guarantee
Rentable SF
1,896
Lease Type
Absolute Net
Rent Per Square Feet
$47.01

Investment Overview

Marcus & Millichap is pleased to present a fee simple freestanding Burger King restaurant on a .92 acre parcel in Wichita, KS. The subject property was a build to suit Burger King restaurant constructed in 2006 with drive through. Currently the lease has 5 years remaining on a fully Triple-Net (NNN) lease with four, 5-Year Options to renew. The annual rent at $89,137 is considered low for any new lease in the QSR category today allowing for potential upside in the future. There are rental increases of 5% every five (5) years throughout all four option periods. The property is well-positioned in North Wichita only 4 miles from Wichita State University. Wichita State University has 16,000+ full time students and is the third-largest post-secondary institution in the state of KS. Located near College Hill & Riverside this area is considered the two most popular residential neighborhoods in Wichita, providing a steady flow of traffic and consumers. The intersection of W 21st & Amidon experiences 36,000 vehicles daily. Notable retailers in the trade area include ALDI, McDonald’s, Taco Bell, Wendy’s, Starbucks, Walmart, Subway, Domino’s, Long John Silver’s, CVS, Dollar Tree, Little Caesars, Huddle House, and many other local restaurants. The current metro area population of Wichita in 2021 is 531,000 with a 90% high school graduate and higher education. The median age is 35 with a $61,000 average household income in 5 miles of the property.

Investment Highlights

  • Long Operating History as Burger King since 1976
  • Experienced Franchisee - Genesh, Inc. is founded in 1998 with over 55+ locations in Kansas And Missouri
  • Absolute NNN Investment with Low Rent, Rental Upside
  • Surrounded by National Retailers: Walmart, Aldi, CVS,Dollar Tree, McDonald's
  • College town - 3.5 Miles from Wichita State University, 16,000+ Students
  • High Traffic Count - 36,000 Cars Per Day at Intersection

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Financing By

Listing Price: $1,371,340

Cap Rate
6.50%
Tenant Name
Genesh, Inc.
Years Remaining On Lease
4.3
Guarantor
Franchisee Guarantee
Rentable SF
1,896
Lease Type
Absolute Net
Rent Per Square Feet
$47.01

Investment Highlights

  • Long Operating History as Burger King since 1976
  • Experienced Franchisee - Genesh, Inc. is founded in 1998 with over 55+ locations in Kansas And Missouri
  • Absolute NNN Investment with Low Rent, Rental Upside
  • Surrounded by National Retailers: Walmart, Aldi, CVS,Dollar Tree, McDonald's
  • College town - 3.5 Miles from Wichita State University, 16,000+ Students
  • High Traffic Count - 36,000 Cars Per Day at Intersection

Investment Overview

Marcus & Millichap is pleased to present a fee simple freestanding Burger King restaurant on a .92 acre parcel in Wichita, KS. The subject property was a build to suit Burger King restaurant constructed in 2006 with drive through. Currently the lease has 5 years remaining on a fully Triple-Net (NNN) lease with four, 5-Year Options to renew. The annual rent at $89,137 is considered low for any new lease in the QSR category today allowing for potential upside in the future. There are rental increases of 5% every five (5) years throughout all four option periods. The property is well-positioned in North Wichita only 4 miles from Wichita State University. Wichita State University has 16,000+ full time students and is the third-largest post-secondary institution in the state of KS. Located near College Hill & Riverside this area is considered the two most popular residential neighborhoods in Wichita, providing a steady flow of traffic and consumers. The intersection of W 21st & Amidon experiences 36,000 vehicles daily. Notable retailers in the trade area include ALDI, McDonald’s, Taco Bell, Wendy’s, Starbucks, Walmart, Subway, Domino’s, Long John Silver’s, CVS, Dollar Tree, Little Caesars, Huddle House, and many other local restaurants. The current metro area population of Wichita in 2021 is 531,000 with a 90% high school graduate and higher education. The median age is 35 with a $61,000 average household income in 5 miles of the property.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

Financing By

MM Texture Background
MM Textured Background Lower