Long John Silver’s/A&W

Great Bend, KS

Price $940,000
Cap Rate 5.85%
TYPE Single-Tenant
STATUS Available
Tenant Long John Silver's/A&W
LEASE TYPE Absolute NNN
SQUARE FEET 1,802
PRICE/SQ FT $512
YEAR BUILT 1976
LEASE EXP. 2032
LISTING AGENT Justin Carlson
480-214-5088 x105
jcarlson@ciadvisor.com

Property Description

Long John Silver’s is the nation’s largest quick-service seafood chain with nearly 1,000 franchised and company-owned restaurants nationwide and A&W is the America’s first and oldest restaurant chain with 1,100 locations worldwide. The subject property has a brand new 15 year Absolute NNN lease with 8% rental escalations every 5 years and two 5 year renewal options. The tenant, Estes Enterprise, Inc., is an experienced 15 unit operator with numerous accolades for operational excellence. This location has been successfully operating for decades with an attractive 8.5% rent-to-sales ratio and was recently remodeled to the dual brand prototype. The store has been trending at an average 10% year over year increase after the remodel.

The property is located in Great Bend, Kansas, on the main East/West thoroughfare with high drive-by visibility. Long John Silver’s and A&W is across the street from Walmart and nearby other retailers including Dillons, Hibbett Sports, Dollar General, Orscheln Farm & Home, Sutherlands Lumber, Family Dollar, True Value, Great Bend Brit Spaugh Zoo. The subject property is 1 mile from Great Bend Regional Hospital and less than 7 miles from Barton Community College with a total enrollment of 5,210 students.

*In Association With: Lockwood Realty, LLC

Property Highlights

  • Brand New 15 Year Absolute NNN Lease with 8.0% Rental Escalations every 5 Years
  • Successfully Open & Operating for Decades with an Attractive 8.5% Rent-to-Sales Ratio!
  • Recently Remodeled to Dual Brand Prototype: Trending at an Average 10% Year Over Year Increase after Remodel
  • Tenant: Estes Enterprise, Inc. is an Experienced 15 Unit Operator with Numerous Accolades for Operational Excellence
  • High drive-by visibility: Situated on Main East/West Thoroughfare (Across the Street from Walmart) in Great Bend where Traffic Counts Exceed 25,970 CPD
  • Demographics – Total Population: 19,688 | Average Household Income: $61,129