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Perkins Restaurant and Bakery

Gladstone, Missouri

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 6292 N. Oak Trafficway in Gladstone, MO.

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Perkins Restaurant and Bakery located at 6292 N. Oak Trafficway in Gladstone, MO. The site consists of roughly 5,591 rentable square feet of building space on estimated 1.31-acre parcel of land. This Perkins Restaurant and Bakery is subject to a brand new, long term, 20-year absolute triple-net (NNN) lease, which commenced on November 1st, 2019. The current annual rent is $218,225 and is scheduled to increase by 1.50% annually throughout the base term and in each of the four (4), five (5)-year tenant renewal option periods.

Location Overview

The subject property is situated on N. Oak Trafficway, which boast an average daily traffic count exceeding 14,372 vehicles. There are more than 78,662 individuals residing within a three-mile radius of the subject property and more than 162,626 individuals within a five-mile radius of the property. This Perkins benefits from being situated in an affluent suburban community. The average household income within a five-mile radius exceeds $81,313. The property is well positioned in a dense retail corridor with many national and local tenants, shopping centers, and academic institutions. Major national tenants include: Save-a-Lot, Dollar General, Advance Auto Parts, Hobby Town, McDonald’s, Hardee’s, Church’s Chicken, Taco Bell, Shell, Rent-A-Center, as well as several others. This Perkins benefits from being located less than a mile and a half from Kindred Hospital Northland. Kindred Hospital Northland is a 50-bed transitional care hospital that offers 24-hour clinical care 7 days a week. This Perkins is located within a five-mile radius of several academic institutions. Most notable of these being Oak Park High School with a student enrollment exceeding 1,500 students. Gladstone is a city in Clay County, Missouri, as well as a suburb of Kansas City, Missouri. Gladstone has the advantage of being located only 10 minutes from downtown Kansas City businesses and activities, including the Power & Light District, the River Market, and only 10 minutes from Kansas City International Airport (MCI). Gladstone is centrally located in the Northland with access to major highways making it easy to commute throughout the entire Kansas City metro area. The city’s developing downtown is becoming a gathering place for the Gladstone community. Residents and others from the area have access to free concerts and events in Linden Square. Gladstone’s Community Center offers fitness memberships and a variety of recreation activities for both children and adults. The Gladstone Park System provides people with miles of fitness trails, ball fields, tennis courts, playgrounds, and shelters that are available to rent for family occasions. Gladstone also offers its own farmers market located in its downtown area, which offers vendors with fresh produce, eggs, canned goods, bakery items, and more.   Broker of Record: Brad Barham License: 2013016939

Key Details

Price:
$3,357,308
Cap Rate:
6.50%
Annual Rent:
$218,225
Address:
6292 N. Oak Trafficway, Gladstone, Missouri 64118 United States
Lease Type:
Triple Net (NNN)

Lot Size:
+/- 1.31
Building Size:
5,591 SF
Tenant:
Perkins Restaurant and Bakery

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