Restaurant

Pizza Ranch

Listing Price: $1,800,000

Cap Rate
7.10%
Tenant Name
Pizza Ranch
Years Remaining On Lease
13.60
Gross SF
4,422
Guarantor
Franchisee Guarantee
Rentable SF
4,422
Price/Gross SF
$407.06
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.85

Investment Overview

Marcus & Millichap is pleased to present the freestanding Pizza Ranch located in Manhattan, Kansas.

Pizza Ranch occupies a 4,422 square foot building that was built-so-suit for Pizza Ranch in 2013. Pizza Ranch signed an original 20-year lease that commenced on May 1, 2014 with the current expiration set for April 30, 2034 leaving around 14 years of lease term remaining. The lease is considered modified triple net with the landlord only being responsible for the roof and the structure. There are rare rent increases every five years in both the base term and in each of the two, five-year renewal options.

Pizza Ranch is perfectly positioned as out outparcel to the Menards that sits behind it and next to a Panda Express. There is a Walmart Supercenter across the street on the west side of Hayes Drive and other tenants nearby along McCall Road including Dunkin Donuts, Arbys, Burger King, Pizza Hut, Taco Bell, IHOP, Freddys Frozen Custard & Steakburgers, and Wendys. McCall Road intersects with Highway 24, which runs north and south through Manhattan and is the main retail thoroughfare home to tenants like Best Buy, DICKS Sporting Goods, Hy-Vee, Petco, Bed Bath & Beyond, and home to a number of large shopping centers like Manhattan Crossing, Plaza de Maria and the Manhattan Town Center.

The Kansas State University campus is less than 3 miles from the Pizza Ranch. Kansas State University is a Division I Big 12 School with more than 21,700 students with the campus spanning over 668 acres. The university is the main economic driver in Manhattan and helps provide traffic to the Pizza Ranch with college students looking for a quick slice.

Investment Highlights

  • 2013 Build-to-Suit Construction for Pizza Ranch
  • Perfectly Positioned as a Menards Outparcel & Next to a Panda Express
  • Walmart Supercenter Across the Street
  • Original 20-Year Lease | Commenced 5/1/2014 & Expiring 4/30/2034 | ~14 Years Left
  • Modified Triple Net Lease | Landlord only Responsible for the Roof & Structure
  • Rare Rent Increases Every 5 Years in both the Base Term & in each Renewal Option

Exclusively Listed By

Listing Price: $1,800,000

Cap Rate
7.10%
Tenant Name
Pizza Ranch
Years Remaining On Lease
13.60
Gross SF
4,422
Guarantor
Franchisee Guarantee
Rentable SF
4,422
Price/Gross SF
$407.06
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.85

Investment Highlights

  • 2013 Build-to-Suit Construction for Pizza Ranch
  • Perfectly Positioned as a Menards Outparcel & Next to a Panda Express
  • Walmart Supercenter Across the Street
  • Original 20-Year Lease | Commenced 5/1/2014 & Expiring 4/30/2034 | ~14 Years Left
  • Modified Triple Net Lease | Landlord only Responsible for the Roof & Structure
  • Rare Rent Increases Every 5 Years in both the Base Term & in each Renewal Option

Investment Overview

Marcus & Millichap is pleased to present the freestanding Pizza Ranch located in Manhattan, Kansas.

Pizza Ranch occupies a 4,422 square foot building that was built-so-suit for Pizza Ranch in 2013. Pizza Ranch signed an original 20-year lease that commenced on May 1, 2014 with the current expiration set for April 30, 2034 leaving around 14 years of lease term remaining. The lease is considered modified triple net with the landlord only being responsible for the roof and the structure. There are rare rent increases every five years in both the base term and in each of the two, five-year renewal options.

Pizza Ranch is perfectly positioned as out outparcel to the Menards that sits behind it and next to a Panda Express. There is a Walmart Supercenter across the street on the west side of Hayes Drive and other tenants nearby along McCall Road including Dunkin Donuts, Arbys, Burger King, Pizza Hut, Taco Bell, IHOP, Freddys Frozen Custard & Steakburgers, and Wendys. McCall Road intersects with Highway 24, which runs north and south through Manhattan and is the main retail thoroughfare home to tenants like Best Buy, DICKS Sporting Goods, Hy-Vee, Petco, Bed Bath & Beyond, and home to a number of large shopping centers like Manhattan Crossing, Plaza de Maria and the Manhattan Town Center.

The Kansas State University campus is less than 3 miles from the Pizza Ranch. Kansas State University is a Division I Big 12 School with more than 21,700 students with the campus spanning over 668 acres. The university is the main economic driver in Manhattan and helps provide traffic to the Pizza Ranch with college students looking for a quick slice.

Exclusively Listed By

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