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Auto Service - Gas-Conv

KwikShop & Taco John's Drive-Thru Ground Lease

656 S West St, Wichita, KS 67213

Listing Price: $2,667,000

Cap Rate
4.50%
Tenant Name
Kwik Shop, Inc.
Years Remaining On Lease
12.8
Gross SF
5,200
Guarantor
Franchisee Guarantee
Rentable SF
5,200
Price/Gross SF
$512.88
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.08

Investment Overview

Founded in 1959 by Dick Dillon, with The Founding Family of Dillon Stores, Kwik Shop convenience stores combined the time-saving personalized service of small retail locations with supermarket-level efficiency in management, inventory control, and merchandising. Expanding to 127 convenience stores chains as of 2020, Kwik Shop stores were purchased by the EG Group in 2018. The originators of “Taco Tuesday,” Taco John’s has always taken tacos seriously from day one. Offering one-of-a-kind tacos and bold flavors, Taco John’s is the destination for handmade salsas, classic Crispy Tacos with freshly-made shells, and signature Potato Olés. Spreading from a single bakery in the SeaTac Mall in Seattle, Washington, and one perfect cinnamon roll recipe, Cinnabon now has over 1,200 locations across the United States and in over 50 countries worldwide. As one of the world’s most-recognized brands, Cinnabon provides original cinnamon rolls and decadent baked treats to customers in every destination as they shop, travel, dine, and play. Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area. In 2018, the estimated population of the Wichita metropolitan area was 644,888. Major highways, including the Kansas Turnpike, US 400 and Interstate I 135, link the city with a large trade area that encompasses a population of more than a million people within a 100-mile radius.

Investment Highlights

  • 15 Year Ground Lease with Franchisee Guarantee and 15, Five-Year Renewal Options
  • Rare C-Store Drive-Thru Taco John's and Cinnabon
  • 194,500+ Residents within a 5-Mile Radius - Growing Wichita Trade Area
  • Minutes from Downtown Wichita and Dwight D. Eisenhower International Airport
  • Excellent Visibility at Signalized Hard-Corner Location along Kellogg Drive/ US Route 400 (94,400 Cars per Day) and South West Street (20,755 Cars per Day)
  • Situated in Dense Retail Corridor beside Westgate Market Square Shopping Center and Towne Square West Shopping Mall
  • Immediate Proximity to US Route 400 and I-235 Freeway, Major Connectors for the Wichita Area and Interstate Traffic
  • Average Household Income Exceeds $59,000 Within Five Miles of Subject Property

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Financing By

Auto Service - Gas-Conv

KwikShop & Taco John's Drive-Thru Ground Lease

Listing Price: $2,667,000

Cap Rate
4.50%
Tenant Name
Kwik Shop, Inc.
Years Remaining On Lease
12.8
Gross SF
5,200
Guarantor
Franchisee Guarantee
Rentable SF
5,200
Price/Gross SF
$512.88
Lease Type
NNN Ground Lease
Rent Per Square Feet
$23.08

Investment Highlights

  • 15 Year Ground Lease with Franchisee Guarantee and 15, Five-Year Renewal Options
  • Rare C-Store Drive-Thru Taco John's and Cinnabon
  • 194,500+ Residents within a 5-Mile Radius - Growing Wichita Trade Area
  • Minutes from Downtown Wichita and Dwight D. Eisenhower International Airport
  • Excellent Visibility at Signalized Hard-Corner Location along Kellogg Drive/ US Route 400 (94,400 Cars per Day) and South West Street (20,755 Cars per Day)
  • Situated in Dense Retail Corridor beside Westgate Market Square Shopping Center and Towne Square West Shopping Mall
  • Immediate Proximity to US Route 400 and I-235 Freeway, Major Connectors for the Wichita Area and Interstate Traffic
  • Average Household Income Exceeds $59,000 Within Five Miles of Subject Property

Investment Overview

Founded in 1959 by Dick Dillon, with The Founding Family of Dillon Stores, Kwik Shop convenience stores combined the time-saving personalized service of small retail locations with supermarket-level efficiency in management, inventory control, and merchandising. Expanding to 127 convenience stores chains as of 2020, Kwik Shop stores were purchased by the EG Group in 2018. The originators of “Taco Tuesday,” Taco John’s has always taken tacos seriously from day one. Offering one-of-a-kind tacos and bold flavors, Taco John’s is the destination for handmade salsas, classic Crispy Tacos with freshly-made shells, and signature Potato Olés. Spreading from a single bakery in the SeaTac Mall in Seattle, Washington, and one perfect cinnamon roll recipe, Cinnabon now has over 1,200 locations across the United States and in over 50 countries worldwide. As one of the world’s most-recognized brands, Cinnabon provides original cinnamon rolls and decadent baked treats to customers in every destination as they shop, travel, dine, and play. Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area. In 2018, the estimated population of the Wichita metropolitan area was 644,888. Major highways, including the Kansas Turnpike, US 400 and Interstate I 135, link the city with a large trade area that encompasses a population of more than a million people within a 100-mile radius.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

Financing By

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