Wichita, KS Denny's 5700 W. Kellogg Drive, Wichita, KS Cap Rate 6.2% Wichita ( Kansas, US ) Built

$910,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 3,485 sq. ft.
  • Development Level: Built
  • Year Built: 1973

Description

Wichita, KS Denny's 5700 W. Kellogg Drive, Wichita, KS Cap Rate 6.2%

Cap Rate: 6.2%
NOI: $56,400
Building Size: 3,485 sqft
Occupancy: 100%
Year Built: 1973

Price: $910,000 USD

DESCRIPTION
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, corporate guaranteed, Denny’s, investment property located in Wichita, KS. The tenant, Den-Ok, Inc., has approximately 4 years remaining in its term with 2 (5-year) options to extend. The tenant has operated at the site for over 46 years, demonstrating their strong commitment to the site. The lease features 5% rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is corporate guaranteed by Denny’s, Inc., and is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for an out of state investor.

Denny’s is strategically situated just off of West Kellogg Avenue with over 84,200 vehicles passing by daily. The site has excellent highway frontage and increased visibility due to its large pylon sign. The asset also has convenient access to Interstate 235 (49,200 VPD). Due to its close proximity (less than 2 miles) to Wichita Dwight D. Eisenhower National Airport (Over 1,665,000 Passengers), Denny’s is surrounded by numerous hotels (over 1,300 rooms), providing a direct consumer base to draw from. Nearby national/credit tenants include a 24-hour Walmart Supercenter, Sam’s Club, Target, Lowe’s Home Improvement, The Home Depot, Burlington, Best Buy, T.J. Maxx, Kohl’s, Joann’s, Ross Dress for Less, and more, promoting crossover shopping to the subject property. In addition, Denny’s is just 1.6 miles from Towne West Square, a 951,000+ SF mall anchored by JCPenney, Dillard’s, and Dick’s Sporting Goods, further increasing consumer draw to the trade area. The 5-mile trade area is supported by more than 182,500 residents with an average household income of nearly $64,000.

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

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Information is deemed to be correct but not guaranteed.