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937 Main St
Atchison, KS 66002
Retail Property For Sale
Investment Highlights
- New 20 Year Absolute NNN Lease Signed at Close of Escrow.
- Proven location with 8 Year Sales History.
- Ideal Demographics for Taco Bell with Limited Competition. Average HH Income More than $100k with 5 Mile Radius.
- Zero Landlord Responsibilities, 8% Rental Increase Every 5 Years.
- Low 6.0% Rent to Sales Cost Ensuring Success at this Location.
- Multi-Unit Experienced Operator (30+ Years).
Executive Summary
Fortis Net Lease is pleased to present the opportunity to acquire an Absolute NNN Fee Simple investment occupied by Taco Bell and located at 937 Main Street in Atchison, Kansas. The property features a 1,820 square foot freestanding restaurant situated on a 0.62-acre parcel along Main Street, a primary commercial corridor serving the Atchison trade area. At the close of escrow, the tenant, KC Bell will sign a brand new 20 year Absolute NNN lease which will expire in 2046. This store hase been in operation for 8 years so it has proven sales and a low 6.0% Rent to Sales Ratio.
KC Bell has been a Taco Bell Franchisee for more than 30 years and operates more than 30 locations with more under development. The absolute NNN lease will require zero landlord responsibilities and includes 8% increase every 5 years. These rent escalations are also included in the four, five year option periods.
This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero management responsibilities. The tenant is responsible for all property taxes, insurance and capital expenditures including the roof, structure & HVAC.
KC Bell has been a Taco Bell Franchisee for more than 30 years and operates more than 30 locations with more under development. The absolute NNN lease will require zero landlord responsibilities and includes 8% increase every 5 years. These rent escalations are also included in the four, five year option periods.
This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero management responsibilities. The tenant is responsible for all property taxes, insurance and capital expenditures including the roof, structure & HVAC.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,061 SF
Building Class
B
Year Built
2017
Price
$2,250,000
Price Per SF
$1,091.70
Cap Rate
5.33%
NOI
$120,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.62 AC
Opportunity Zone
Yes
Zoning
GBD - General Business District
Parking
30 Spaces (14.56 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 0030910101022007000 | Improvements Assessment | $217,223 |
| Land Assessment | $31,560 | Total Assessment | $248,783 |
Property Taxes
Parcel Number
0030910101022007000
Land Assessment
$31,560
Improvements Assessment
$217,223
Total Assessment
$248,783
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