INVESTMENT SUMMARY: Exclusively Represented By: Jim Dunham Cell: 605-360-0061 Jim@JimDunham.com Linda Dunham Cell: 605-940-8528 Linda@JimDunham.com Jim Dunham & Associates 519 W 22nd Street Sioux Falls SD 57105 605-275-8500 www.thejdaway.com THE OFFERING: Jim Dunham & Associates is pleased to offer to qualified investors a 9,449 square foot freestanding restaurant property which is triple net leased to Granite City Food & Brewery, Ltd. through May 31, 2030. The property is offered at a price of $4,417,778, which provides for a cap rate of 6.75 plus percentage rent. INVESTMENT HIGHLIGHTS: Investment includes a 8,932 square foot building and 517 square feet of mezzanine space. Property is net leased to Granite City with approximately 13 years remaining on the current term. This opportunity was a custom build for Granite City. Percentage rent over a breakpoint provides for upside potential throughout the lease term. Three 5-year renewal options. Tenant responsible for structure, including but not limited to exterior walls, roof and roof membrane, parking areas, and exterior plumbing. Price: $4,417,778.00 Rentable Area: 9,449 (+/-) sq. ft. Land Area: Approximately 1.596 acres Annual Rent: $298,200 * Cap Rate: 6.75 + Percentage Rent * Landlord has provided Tenant with a 30 month base rent reduction from 9/1/17 through 2/28/20. The annual base rent during this period is $262,200. The annual net base rent over firm term averages $291,918. GRANITE CITY IN KANSAS CITY: Kansas City, known as the Heart of America, is in an ideally positioned bi-state metro area that straddles the Missouri- Kansas state line. Ranked by population, Kansas City is the 31st largest metropolitan area in the nation with approximately 2.09 million people. It includes more than 136 cities, the four largest of which are Kansas City, Mo. (population 481,420); Overland Park, Kan. (188,966); Kansas City, Kan. (151,709); and Olathe, Kan. (135,473). Kansas City hosts several professional sports teams, including the Kansas City Royals (baseball) and the Kansas City Chiefs (football), providing the perfect backdrop for Granite City s upscale yet casual game-friendly atmosphere. REGIONAL TENANT LONG-TERM NNN LEASED INVESTMENT FOR SALE GRANITE CITY ZONA ROSA 8461 NW PRAIRIE VIEW ROAD Granite City Food & Brewery Ltd., is a Modern American upscale casual restaurant chain that operates 30 restaurants in thirteen Midwestern states. The menu features affordable yet high quality family favorite menu items prepared from made-from-scratch recipes and served in generous portions. The sophisticated yet unpretentious restaurants, proprietary food and beverage products, attractive price points and high service standards combine for a great dining experience. Granite City opened its first restaurant in St. Cloud, Minnesota in 1999. KANSAS CITY, MO 64153 OTC Pink: GCFB www.gcfb.com The information herein is deemed to be accurate but is not guaranteed. It is your responsibility to independently confirm its accuracy and completeness.
THE LOCATION: THE PROPERTY: 8461 NW PRAIRIE VIEW ROAD KANSAS CITY, MO 64153 Building Area: 9,449 square feet Land Area: Approximately 1.596 acres Year Built: 2005 DEMOGRAPHICS: 2017 Estimates: 1 Mile 3 Miles 5 Miles Population 9,464 43,995 91,385 Average HH Income $76,856 $83,408 $82,298 Total Businesses 579 1,587 2,898 Total Employees 8,732 24,906 42,304 Food Away From Home $3,445 $3,906 $3,859 THE LEASE: Concept: Upscale casual restaurant. Lessee: Granite City Food & Brewery, Ltd. Lease Type: NNN Lease Commencement: December 1, 2005 Lease Expiration: May 31, 2030 Annual Rent: $298,200 * Percentage Rent: Contact Listing Renewal Options: Three, 5-year options PSF Annual Base Rent: $31.57 * Landlord has provided Tenant with a 30 month base rent reduction from 9/1/17 through 2/28/20. The annual base rent during this period is $262,200. The annual net base rent over firm term averages $291,918. Right of First Refusal: Lessee may exercise its Right of First Refusal to Purchase in writing within fifteen days of receipt of Owner s written notice of its intent to sell. Exclusively Represented By: Jim Dunham Cell: 605-360-0061 Jim@JimDunham.com Linda Dunham Cell: 605-940-8528 Linda@JimDunham.com Jim Dunham & Associates 519 W 22nd Street Sioux Falls SD 57105 605-275-8500 www.thejdaway.com The information herein is deemed to be accurate but is not guaranteed. It is your responsibility to independently confirm its accuracy and completeness.
LOCATION AERIAL GRANITE CITY ZONA ROSA, KANSAS CITY, MO SITE
METROPOLITIAN AREA GRANITE CITY ZONA ROSA, KANSAS CITY, MO