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% 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 subject property is located in Hutchinson, Kansas, on the hard corner with high drive-by visibility. Long John Silver’s and A&W is 2.5 miles from Hutchinson Community College, a 2 year college with a total enrollment of 6.127 students, and sits 3 miles from Hutchinson Regional Medical Center with 258 beds. Nearby retailers include Hutchinson Mall (anchored by JCPenney, Hobby Lobby, Orscheln Farm & Home & Dunham’s Sporting Goods with more than 30 specialty shops and B&B Theatres), Walmart Supercenter, Target, Lowe’s Home Improvement, The Home Depot, Dillons, Dollar General and the Kansas State Fair.
*In Association With: Lockwood Realty, LLC