Historical Retail Sale Listing - Village Inn

Retail For Sale

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Village Inn

3402 Vine Street, Hays, KS 67601

N/A

4,661 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
4,661 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Vacant/Owner-User
Commission Split:
2.5%
No. Stories:
1
Year Built:
1990
Lot Size:
0.85 AC
Listing ID
15053387
Last Updated
over 1 year ago

Highlights

  • Excellent Owner User Opportunity
  • All Standard Restaurant Equipment Included In Sale
  • Proven Restaurant Location
  • Excellent Size and Seating Capacity
  • Priced Below Replacement Cost
  • Within 2 Blocks from Hwy 183 and I-70

Description

The subject property is an excellent opportunity for an owner-operator to own a strong sit-down restaurant location. With close to five thousand rentable square feet, and over 90 person seating capacity, the property is ideal for a new restaurant to thrive at this location. This location was a 2005 Top 5 sales award winner for all of Village Inn properties nationwide and generated almost $1.3 million sales in 2005. An operator could open their own concept and obtain new financing to acquire the property. In addition, standard restaurant equipment will be included in the sale - including stoves, ovens, refrigerators, and more - further increasing the ability for an operator to be fully operational in a short period.

The offering is also an excellent opportunity for a savvy investor to capture an excellent return through leasing up the property to a new tenant at market rates. Delivered vacant at the close of escrow, the property could be leased to a new tenant at market levels to potentially earn a 9% cap rate return at the listed price.

The subject property is ideally located on a corner lot with in 2 blocks from the major intersection of Interstate 70 and Highway 183. Vine Street is Hay' s main retail corridor. The restaurant benefits from strong vehicular and retail customer traffic. The property is adjacent to Motel 6 and Long John Silver' s. Additionally, this NNN investment site is located within ¼ of a mile from national retailers which include: ACE Hardware, Applebee' s, Harley Davidson, McDonald' s, Comfort Inn and a brand new Wal-Mart Supercenter. THIS PROPERTY IS BEING SOLD AS PART OF A PORTFOLIO OF (5) VILLAGE INN PROPERTIES THROUGHOUT KANSAS (2) & NEBRASKA (3). ALL ARE TO BE DELIVERED VACANT AT COE. SELLER MUST SELL A MINIMUM OF ANY COMBINATION OF AT LEAST 3 UNITS.

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Created 3/20/2007