Listed by SURMOUNT
$5,647,000
Hawaiian Bros
Details
Property Type Retail
Sub Type Restaurant - quick service
Square Footage 3,279
Cap Rate 7.00%
NOI $395,290
Occupancy 100%
Tenancy Single
Brand/Tenant Hawaiian Bros
Lease Type NNN
Lease Term 15
Lease Expiration 09/19/2038
Remaining Term 12.5
Rent Bumps Yes
Lease Options 3, 5 - Year Options
Year Built 2023
Acreage 1.900
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/30/2023
Ground Lease No
Ownership Restaurant - Quick Service
About This Property for Sale
Investment highlights
- Long Term Abs NNN Lease | There are over twelve (12) years remaining on an original fifteen (15) year absolute triple - net lease , with no landlord responsibilities. The lease features attractive ten percent (10%) rental increases every five (5) years throughout the base term and in each three, five- year option periods.
- Corporate Guarantee | Founded in 2018, it has rapidly expanded across the country with approximately 75 locations open and in development throughout 14 states: Arizona, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Missouri, Nebraska, Nevada, Oklahoma, Oregon, Tennessee, and Texas. In 2023, the company reported nearly $120 million in revenue.
- Continued Growth | Hawaiian Bros currently operates 70 restaurants and that number will swell quickly with a growing development pipeline approaching 300 locations. Fueling this impressive expansion are key operations and performance distinctions epitomized by low overhead, drive- thru times of 30 seconds or less and systemwide AUVs of $2.5 million with top - quartile locations exceeding $3.5 million.
- Strong Traffic Counts | The subject property is located along North Belt Highway, which experiences over 23,000 vehicles per day. The property is situated just off Interstate - 29, which brings an additional 30,000 vehicles into the immediate area each day. Interstate - 29 is a major highway as it provides direct access to downtown Kansas City.
- Dense Retail Corridor | The subject property is located within a dense retail corridor home to shopping centers such as the East Hills Mall, The Shoppes at the North Village , and many others. National retailers in the area include Walmart, Sam’s Club, Target, Lowe’s, and others.
- Missouri Western State University | Missouri Western State University is a public university in St. Joseph, MO, about two miles from this Hawaiian Bros. The school is home to over 3,800 students and more than 28,000 alumni over the world.
- Real Estate Fundamentals - St . Joseph, MO | St Josephs is conveniently located just 45 minutes from Kansas City, and a little over two hours to Lincoln and Omaha, Nebraska . The area is served by the Kansas City International Airport, only 25 minutes south of St. Joseph.
- Robust Demographics | There are over 7,500 individuals within a one- mile radius of the subject property, over 53,000 within a three- mile radius, and over 70,000 within a five- mile radius. Average household income exceeds $78,000 within a one - mile radius.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$395,290.00
$32,940.83/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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