Burger King 7.00% Cap rate Absolute Net Lease - 11.5 Years Remaining 2309 S. Seneca, Wichita, KS 67213 (map) [ www.capitalpacific.com ]
PROperty Summary PRICE: $1,335,000 CAP: 7.00% Rentable SF...2,221 SF Price per SF...$601 land area...0.86 Acres Current Rent....$42.08/SF Lease Expiration....2/28/2027 Listing Team Contact Info John Andreini jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 RICK SANNER rsanner@capitalpacific.com (415) 274-2709 CA BRE# 01792433 In conjunction with KS Licensed Broker: Brad Saville, Landmark Commercial Real Estate bsaville@landmarkrealestate.net (316) 262-2442 Capital Pacific collaborates. Click here to meet the rest of our San Francisco team. Burger King 2
core characteristics free standing burger king in wichita, kansas location highlights Over 20,000 VPD on S. Seneca Retailers in the immediate area include Walmart Supercenter, Starbucks, McDonald s, KFC, and O Reilly s Auto Parts Guarantor Highlights Founded in 1998, Genesh, Inc. is a Kansas-based franchisee of Burger King Corporation and operates 55 restaurants in Kansas and Missouri Separate personal guarantee Tenant Highlights Operates more than 12,000 restaurants in the U.S. and 85 additional countries #2 Hamburger chain in the world Lease highlights Strong national franchisee - 55 locations Absolute NNN Approximately 11.5 years remaining on lease 5% rental increases every five years; four 5-year options 194,000 Residents within a 5-mile radius National Tenant Burger King 3
Burger King aerial 400 54 ue W Kellogg Aven S Seneca Street Wichita High School West 400 54 TOWNE WEST SQUARE Hamilton Middle School Stanley Elementary Harry Street Elementary WESTWAY PLAZA WICHITA DWIGHT D. EISENHOWER NATIONAL AIRPORT 21,391 DAILY W Pawnee Street WESTPORT AIRPORT Woodman Elementary SENECA SQUARE 42 WICHITA CITY CENTER Cleveland Traditional Magnet S Meridian Avenue 235 54 Truesdell Middle School 20,092 DAILY H&R BLOCK E Pawnee Street Wichita Adventist Christian Academy South High School Burger King 4
area retailers Area retailers include Walmart, starbucks, Taco bell, & KFC Burger King 5
income & expense PRICE $1,335,000 Price Per Square Foot: $601.08 Capitalization Rate: 7.00% 3/1/17 Capitalization Rate: 7.35% Total Rentable Area (SF): 2,221 Lot Size (Acres): 0.86 STABILIZED INCOME Per Square Foot Scheduled Rent $42.08 $93,450 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Structural Reserves NNN $0.00 EQUALS NET OPERATING INCOME $93,450 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Burger King 6
rent roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT Burger King 2,221 3/1/2007 2/28/2012 $7,416.67 $89,000.00 $3.34 $40.07 3/1/2012 2/28/2017 $93,450 $7,787.50 $93,450.00 $3.51 $42.08 3/1/2017 2/28/2022 $8,176.88 $98,122.50 $3.68 $44.18 3/1/2022 2/28/2027 $8,585.72 $103,028.63 $3.87 $46.39 Option 1 3/1/2027 2/28/2032 $9,015.01 $108,180.06 $4.06 $48.71 Option2 3/1/2032 2/28/2037 $9,465.76 $113,589.06 $4.26 $51.14 Option 3 3/1/2027 2/28/2042 $9,939.04 $119,268.51 $4.48 $53.70 Option 4 3/1/2042 2/28/2047 $10,436.00 $125,231.94 $4.70 $56.39 Totals: 2,221 $93,450 $7,787.50 $93,450.00 $3.51 $42.08 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. Burger King 7
site plan W Haskell Street Site Plan Key Parcel outline: Land Area: 0.86 Acres Building Area: 2,.221 sf Ingress/Egress: S Seneca Street 20,092 DAILY LIGHTED POLE SIGN Drive-Thru Burger King 8
tenant overview about Guarantor/Franchisee Founded in 1998, Genesh, Inc., is a Kansas-based franchisee of Burger King Corporation and operates 55 restaurants in Kansas and Missouri. The company has over 17 years of experience in the Burger King system and continues to grow. www.bk.com about Burger King Every day, more than 11 million guests visit Burger King restaurants around the world. Burger King Worldwide operates the world s #2 hamburger chain by sales (behind McDonald s) with over 12,000 restaurants in the US and more than 85 other countries. The menu includes items such as the famous Whopper burger, chicken and beef sandwiches, salads, breakfast items, along with beverages, desserts, and sides. Investment firm 3G Capital took the company privately in 2010 before taking it public again in mid-2012. 2012 GROSS REVENUE 2012 NET income $1.97 Billion $11.7 Million Burger King 9
location & demographics 20,092 DAILY wichita, ks Overview Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area, which had a 2013 population of over 380,000. As the industrial hub and largest city in Kansas, Wichita is the center of culture, media, and trade. It hosts several large museums, theaters, parks, and entertainment venues, such as Intrust Bank Arena. Several universities are located in the city including Wichita State University, the third largest in Kansas. Wichita is also home to two large shopping centers, Towne East Square and Towne West Square, as well as the Century II Performing Arts & Convention Center and Kansas s largest and busiest airport, Wichita Dwight D. Eisenhower National Airport, which has non-stop flights to about ten cities. Wichita Population 1-Mile 3-Mile 5-Mile 2015 13,919 81,695 195,292 2020 13,897 82,332 196,889 2014 Household incomes 1-Mile 3-Mile 5-Mile Average $40,248 $40,509 $44,608 Top Employers in wichita Cessna Aircraft Co. Spirit AeroSystems, Inc. Hawker Beechcraft Via Christi Health System Boeing Integrated Defense Systems Burger King 10
A unique HUMAN RESULTS-DRIVEN client experience The capital pacific experience - our daily commitment to our clients [ www.capitalpacific.com ] John Andreini jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 Bob Sanner bsanner@capitalpacific.com (415) 274-2717 CA BRE# 00869657 Rick Sanner rsanner@capitalpacific.com (415) 274-2709 CA BRE# 01792433 Chris peters cpeters@capitalpacific.com (415) 274-2703 CA BRE# 01339983 In conjunction with KS Licensed Broker: Brad Saville, Landmark Commercial Real Estate bsaville@landmarkrealestate.net (316) 262-2442 [ Copyright 2015 Capital Pacific LLC ]