Perkins Restaurant & Bakery has 19 years remaining on an Absolute NNN lease with attractive 1% annual rental escalations during initial lease term with four 5-year renewal options. The tenant, CyHawk Hospitality, Inc. is an experienced 17-unit Perkins franchise with locations in Iowa, Colorado, Kansas, Missouri, South Dakota, & Nebraska. This lease is also personally guaranteed by a high net worth operator!
Perkins Restaurant & Bakery is located in Salina, Kansas off I-35 and in a main retail corridor across the street from Lowe’s Home Improvement with excellent drive by visibility. Nearby retailers include: Walmart Supercenter, Target, Sam’s Club, Lowe’s Home Improvement, Menards, Hobby Lobby, Ashley HomeStore, Kohl’s, Marshalls, Five Below, Old Navy, JOANN Fabrics, Big Lots, Tractor Supply Co., JCPenney, Books-A-Million, Hibbett Sports, Goodwill, Dillons, AMC Salina, etc. This asset is 2.5 miles from Kansas State University Polytechnic Campus (enrollment of 814), 3 miles from Kansas Wesleyan University (enrollment of 791) and 4 miles from Salina Regional Health Center (393 licensed beds).
*In Association with Kansas Local Broker: Robert E. Begley, Lockwood Realty, LLC #232226