About This Restaurant
Investment Highlights
December 2023 Construction - with Drive Thru New 20 year NNN Lease at COE Near Kansas Speedway - 440,000 visitors annually Royal City Bell - Experienced Tenant - 73+ Units (and growing) $125,000 Average HH Income - 1 mile Kansas City MSA - total population 2.2 million
Executive Summary
First Street Brokerage is pleased to offer for sale the latest Taco Bell development in Kansas City backed by Royal City Bell, LLC. ("RCB") The Principals of RCB independently operate numerous other Taco Bell franchises with over 300 locations. With a 20-year NNN lease to be delivered upon close of escrow, this sale presents a fantastic opportunity for a stable investment. Pro forma net operating income is projected to be $159,000 with rental payments commencing in December of 2023. Rent increases of 8% are scheduled every five years and the tenant is offered four 5-year extensions. Conveniently located near the Kansas Speedway, which sees around 440,000 visitors a year, the property is positioned within a historically thriving community which is projected for further growth. Average household incomes within a 5-mile radius are well positioned at $120,669, creating a profitable customer base for tenants.
Property Details
- Sale Type Investment
- Sale Conditions 1031 Exchange 1031 Exchange Sale Leaseback Build to Suit 1031 Exchange
- Property Type Retail
- Property Subtype Fast Food
- Building Size 2,100
- Year Built 2023
- Price 3,028,000
- Price Per SF 1,442
- Cap Rate 5.35
- NOI 161,998
- Tenancy Single
- Building Height 1 Story
Amenities
- Restaurant
- Signage
- Drive Thru
- Monument Signage
| Date Created: | 2024-07-16 04:16:14 | Last Updated: | 2024-07-16 04:16:14 |
| Address: | 15498 State Ave , Basehor, Kansas, 66007 | ||