Listed by Matthews
$1,075,000
Vacant Applebee's - Paola, KS
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,642
Tenancy Vacant
Brand/Tenant 7-Eleven, Starbucks
Lease Type Absolute NNN
Price per SqFt $295
Year Built 2004
Buildings 1
Stories 1
Acreage 1.240
Parking Spaces spaces
Investment Type Owner/User
Ground Lease No
Ownership Fee Simple
Vacant Applebee's - 1.24 Acre Lot - Dense Retail Corridor
Investment highlights
- Attractive Demographics – The average household income within the 3-mile radius is $100k+ which benefits an investor by owning a property in an area where local consumers have high spending power.
- Below Replacement Cost – Opportunity to acquire a casual dining restaurant at a price below the current replacement cost. This benefits an investor by providing a lower barrier to entry for operations, stronger long-term cash flow potential, and reduced risk.
- High Density Retail Corridor – Dense retail corridor surrounded by various national tenants, including but not limited to Subway, KFC, McDonald’s, Arby’s, Pizza Hut, Sonic Drive-In, Burger King, Scooter’s Coffee, and a Walmart Supercenter.
- Direct Access to Hwy 169 – The subject property is in close proximity to Highway 169 which has an average daily vehicle count of ±13,100. This, coupled with the Applebee’s located next to the Walmart Supercenter, increases the probability of more customers driving to the location.
- Paola High School – The subject property is located right outside of Paola High School which has enrollment numbers of over 500 students. The high school has a significant impact to the immediate economy through job creation, attracting new businesses to the area, and its importance to bringing traffic to the Applebee’s property.
- Large Lot Size: The property sits on a substantial 1.24-acre lot with an extensive 300 feet of road frontage, offering excellent visibility and accessibility. This benefits an investor as it adds to the properties ability to be redeveloped or re-tenanted.
Listing Contacts
Listed by Matthews
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