Restaurant

Chick-fil-A | Pad to 558k SF Center | NNN Ground Lease w/ Recent Long Term Lease Extension

8551 State Line Rd, Kansas City, MO 64114

Listing Price: $3,900,000

Cap Rate
3.77%
Tenant Name
Chick-fil-A
Years Remaining On Lease
14.60
Gross SF
4,172
Guarantor
Corporate Guarantee
Rentable SF
4,172
Price/Gross SF
$934.80
Lease Type
NNN Ground Lease
Rent Per Square Feet
$35.28

Investment Overview

Kansas City is the largest city in Missouri by population and area and is the 38th most-populous city in the United States. The Kansas City metro offers an attractive quality of life to its residents. It is home to many recreational parks, lakes and reservoirs. Kansas City’s central geographic location makes it a natural transportation and distribution hub. The metro is the second-largest rail mecca in the nation and the increased flow of goods from Mexico will drive intermodal growth in the region. Lower costs of living and doing business, in addition to an educated workforce, attract corporations and job seekers. Locally housed companies Seaboard and Lansing Trade Group are on the Fortune 500 list. Other expanding industries in the metro include finance and insurance, engineering, life sciences, manufacturing and information technology. Being the first area in the nation to receive Google Fiber high-speed Internet access should lure tech companies and startups to Kansas City. Growth in the Kansas City economy is accelerating. This year, local GMP is forecast to increase 2.5 percent, up from 1.6 percent last year. Retail sales are also expected to continue an upward trend this year.

Investment Highlights

  • Recent Long Term Lease Extension Demonstrating Strong Commitment to the Location. NNN Ground Lease Featuring Favorable Rental Increases Throughout the Initial Term and Options.
  • Extensive Renovations in 2019 Including Drive-Thru Lane and Building Expansion.
  • Positioned Along Area's Major Retail & Traffic Corridor: Signalized Hard Corner Location - Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 28k Vehicles.
  • Strong Performing Location per Placer.ai: Top 1% of all Dining Locations Tracked in the Nation and Top 25% in the Chain. Chick-fil-A named the #1 Fast-Food Restaurant in America with Annual Sales of Nearly $10.5 Billion and Average Sales Per Unit of $4.6 Million.
  • Located in one of Kansas City's Most Affluent and Well-Educated Communities: Features an Average Household Income of $111k+ within a 1-Mile Radius and 226k+ People Residing within a 5-Mile Radius.
  • Pad Site to Ward Parkway Center - A 558k+ Sq.Ft. Recently Renovated Shopping Center featuring Numerous National Retailers Including a Target, Trader Joe's, Ross, PetSmart and many more.
  • Strong Daytime Employment Area - The Site is Surrounded by a Large Base of Office Employees within Walking Distance or a Short Drive.

Exclusively Listed By

Restaurant

Chick-fil-A | Pad to 558k SF Center | NNN Ground Lease w/ Recent Long Term Lease Extension

Listing Price: $3,900,000

Cap Rate
3.77%
Tenant Name
Chick-fil-A
Years Remaining On Lease
14.60
Gross SF
4,172
Guarantor
Corporate Guarantee
Rentable SF
4,172
Price/Gross SF
$934.80
Lease Type
NNN Ground Lease
Rent Per Square Feet
$35.28

Investment Highlights

  • Recent Long Term Lease Extension Demonstrating Strong Commitment to the Location. NNN Ground Lease Featuring Favorable Rental Increases Throughout the Initial Term and Options.
  • Extensive Renovations in 2019 Including Drive-Thru Lane and Building Expansion.
  • Positioned Along Area's Major Retail & Traffic Corridor: Signalized Hard Corner Location - Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 28k Vehicles.
  • Strong Performing Location per Placer.ai: Top 1% of all Dining Locations Tracked in the Nation and Top 25% in the Chain. Chick-fil-A named the #1 Fast-Food Restaurant in America with Annual Sales of Nearly $10.5 Billion and Average Sales Per Unit of $4.6 Million.
  • Located in one of Kansas City's Most Affluent and Well-Educated Communities: Features an Average Household Income of $111k+ within a 1-Mile Radius and 226k+ People Residing within a 5-Mile Radius.
  • Pad Site to Ward Parkway Center - A 558k+ Sq.Ft. Recently Renovated Shopping Center featuring Numerous National Retailers Including a Target, Trader Joe's, Ross, PetSmart and many more.
  • Strong Daytime Employment Area - The Site is Surrounded by a Large Base of Office Employees within Walking Distance or a Short Drive.

Investment Overview

Kansas City is the largest city in Missouri by population and area and is the 38th most-populous city in the United States. The Kansas City metro offers an attractive quality of life to its residents. It is home to many recreational parks, lakes and reservoirs. Kansas City’s central geographic location makes it a natural transportation and distribution hub. The metro is the second-largest rail mecca in the nation and the increased flow of goods from Mexico will drive intermodal growth in the region. Lower costs of living and doing business, in addition to an educated workforce, attract corporations and job seekers. Locally housed companies Seaboard and Lansing Trade Group are on the Fortune 500 list. Other expanding industries in the metro include finance and insurance, engineering, life sciences, manufacturing and information technology. Being the first area in the nation to receive Google Fiber high-speed Internet access should lure tech companies and startups to Kansas City. Growth in the Kansas City economy is accelerating. This year, local GMP is forecast to increase 2.5 percent, up from 1.6 percent last year. Retail sales are also expected to continue an upward trend this year.

Exclusively Listed By

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