Budget Car and Truck Rental

8144 East Kellogg Drive, Wichita, KS 67207

$1,167,000

Cap Rate 6.00%

Views: 60 DOM: 171 Updated: 03.12.24 Posted: 11.28.23 Status: Active 03.20.24

Summary

Price $1,167,000	Built/Renov 2023	Tenant Budget Car and Truck Rental
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 1,506	Lease Start 12-01-2023	#Units 3,730
Price/SF $774.90	Expiration 12-01-2033	Tenant Type Automotive
NOI $70,000	R. Term 9.6	Ownership Fee Simple
Rent/SF $46.48	Increases 5.0%/5/yrs	Pop 5Mi 170,572
Lot/AC 0.82	Options 2/5yrs/10%	AHHI 5Mi $80,495

Lease Highlights

New high-quality 2023 re-construction
Budget recently signed a new 10-year lease with 2 (5-year) options to extend
The lease features 5% rent increases every 5 years throughout primary term and 10% increases in option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Budget Car and Truck Rental is strategically located on East Kellogg Drive/U.S. Route 400, boasting excellent frontage and accessibility, with access to 45,900 vehicles passing by daily. Positioned within a dense retail corridor, the property is across from Towne East Square shopping mall and is surrounded by well-known national tenants, including ALDI, At Home, Burlington, and more....

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Key Features

New construction
Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Brand new lease
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Budget Car and Truck Rental Wikipedia Budget Wikipedia Wichita, Kansas Zip Code 67207 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Budget Car and Truck Rental
Guarantor:Corp T and Rated
Company:Avis Budget Group
# Units:3,730
Tenant S&P: BB
Stock: NASDAQ: CAR

About Tenant

Budget Car and Truck Rental (“Budget”) is an American car rental company, with rental locations primarily located in North America, Europe, and the Australasia region. Budget was founded in 1958...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,527	78,307	170,882
2023 Total Population :	10,526	78,374	169,898
2023 Employed Civilian Pop :	5,439	38,722	80,329
2023 Total Businesses :	613	3,366	7,367
2023 Average Household Income :	$ 82,706	$ 85,618	$ 82,455
2023 Total Consumer Spending :	$ 330 M	$ 2457 M	$ 4959 M
2023 Median Age :	34	36	35
2023 Total Households :	4,583	33,020	69,175
2023 Pop Age 25+: Bachelor's Degree :	1,877	12,689	25,290
2023 Average Home Value :	$ 213,531	$ 255,971	$ 247,840

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Kellogg St	E Kellogg Dr S	2000	34,067	0.05 mi
	Calhoun St	2021	3,605	0.07 mi
E Kellogg Dr N	Heather St	2018	45,900	0.07 mi
	S Webb Rd	2021	2,805	0.10 mi
E Kellogg Dr N	Heather St	2018	3,605	0.10 mi
US 54;US 400	N 2nd Ave	2021	47,953	0.14 mi
	E Kellogg Dr N	2011	30,251	0.16 mi
East Kellogg Drive North	S Mansfield	2018	45,900	0.18 mi
	E Kellogg Dr S	2013	27,994	0.19 mi
	N 2nd Ave	2013	4,479	0.20 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

162 Listings
6485 Views
73 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

163 Listings
6553 Views
74 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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