3242 S Stewart Ave
Retail | 6.41% CAP | 6,470 SqFt
Marketing description
SVN is please to present this net leased restaurant investment for sale. KPot Korean BBQ & Hot Pot is finalizing extensive renovations after signing a 5-year lease in 2024. K-Pot is a growing concept with over 160 locations, including dozens currently under development. The site is conveniently located near the largest concentration of Springfield's high traffic retail, including less than 1/2 mile from Simon's Battlefield Mall with 1.2 million square feet and over 12 million visitors per year.
Location Description
This location is right along Glenstone Avenue, just south of Battlefield Road at one of Springfield's busiest intersections. Property is less than 1,500 feet from many of Springfield's densest retail including Target, Hobby Lobby, Marshalls, Ross Dress, TJ Maxx, Corwin Ford and Best Buy. Also nearby are national restaurant groups including Cheddars, Chili's, Olive Garden, Apple bees and more.
Investment highlights
- Tenant funding significant renovation improvements both interior & exterior showing their long-term commitment to the site.
- Operator & Guarantor owns 6 other K-Pot locations.
- 5 year initial term with 2% annual escalations.
- Two 5 year renewal options with 5% initial increase and continued 2% annual escalations thereafter.
- Landlord responsible for roof and foundation.
- Tenant responsible for all other repairs and maintenance.
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