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Applebee’s

Hays, Kansas

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About the Investment:

✓ 15-Year Triple Net (NNN) Lease with Zero Landlord Responsibilities
✓ Attractive Rental Increases | 1.50% Annually
✓ Four (4) Tenant Renewal Periods of Five (5) Years Each

About the Location:

✓ Dense Retail Corridor | Walmart Supercenter, The Home Depot, Hobby Lobby, JCPenney, McDonald’s, Arby’s, IHOP, Wendy’s and Many More
✓ Features High Visibility & Ease of Access along N Vine Street
✓ Strong Traffic Counts | N. Vine Street & Interstate-70 | Average 16,000 and 12,000 Vehicles Per Day, Respectively
✓ Direct Proximity to The University of Kansas Health Center | A 200 Bed Facility Within a Two-Mile Radius
✓ Numerous Hospitality Accommodations | There are Eight Different Hospitality Tenants Within a One-Mile Radius of this Site
✓ Prominent Academic Presence | Fort-Hays State University is Within a Three-Mile Radius | Approximately 13,000 Students Enrolled

About the Tenant/Brand:

✓ Legacy Apple III, LLC | 28 Strong Performing Unit Entity
✓ Part of the Thrive Restaurant Group Family | Experience Operating in the Restaurant Industry Since 1966
✓ Thrive Restaurant Group Is Comprised of More Than 80 Restaurant Locations Across 11 States
✓ Long Term Operational History | Restaurant Has Been in Operation Since 1997

Key Details

Price:
$2,370,370
Cap Rate:
6.75%
Annual Rent:
$160,000
Address:
4101 N. Vine, Hays, Kansas 67601
Lease Type:
Triple Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
15 Years from the Close of Escrow
Lease Term Remaining:
15 Years
Rental Increases:
1.50% Annually
Lot Size:
+/- 1.60 Acres
Building Size:
5,008 SF
Year Built:
1997
Tenant:
Applebee’s

Broker of record

Colby Haughness

License: 0367733


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