1021 S 13th St
Norfolk, NE 68701
Whiskey Creek Wood Fire Grill · Retail Property For Sale

Single-Tenant Whiskey Creek Wood Fire Grill: - 10-year lease with 7+ years remaining - Rare 15% rent increase in May 2020 - NNN lease, limited landlord responsibility - 7.09% current cap rate increasing to 8.18% in 2020 Newly Renovated Location: Including brand new roof (2016) with 20 year warranty, new HVAC, remodeled interiors and kitchen equipment. Strong Store Sales: The property benefits from low rent-to-sales ratio of 5.25% Low Price Per Square Foot: Offered below replacement cost at $169 PSF. Strategic Location Adjacent to Sunset Plaza Mall: The subject property is located directly across from Sunset Plaza Mall, a 324,000 SF regional mall anchored by Target, JCPenney, and Herberger’s. Stable Operating History: Whiskey Creek has successfully operated at this location for over 18 years (1999). Experienced Operator: The lease is guaranteed by Norfolk Steak Company, a single asset entity, and operated by the owner of the entire Whiskey Creek Wood Fire Grill franchise (8 locations). Excellent Visibility and Access: The property features large pylon street frontage signage and is ideally situated directly on Johnny Carson Boulevard (Highway 81). The property benefits from over 33,000 CPD at the intersection of Johnny Carson Boulevard and Omaha Avenue (Highway 275). Strong Demographics: Average household income over $68,000 within a 5-mile radius. Norfolk’s unemployment rate of 2.7% is well below the national average of 4.4%. Nebraska ranks 4th in the United States for lowest employment rate. Depreciable Asset: Sale includes both the land and building. Excellent Retail Synergy: Nearby national credit tenants include Target, Walmart Supercenter, JCPenney, Hobby Lobby, Herberger’s, Menards, Hy-Vee, McDonald’s, Wells Fargo, Hibbet Sports, OfficeMax, Payless ShoeSource, Famous Footwear, Taco Bell, KFC, O’Reilly AutoParts, Arby’s, Sonic Drive-In, AutoZone, and Subway. Norfolk, Nebraska: - Principal retail center of northeastern Nebraska serving a trade area population of over 109,000 - Economic center for an area encompassing 6 counties. Major area employers include: - Nucor - 901 employees (#167 on Fortune 500; $16B+ Revenue; NYSE: NUE) - Faith Regional Health Center - 1,275 employees; 150 beds - Associated Wholesale Grocers - 654 employees - Medtronic - 500 employees - Walmart - 407 employees - Home of Northeast Community College (7,000+ credit enrolled students)