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Views: 519 Updated: 10.29.24 Posted: 02.27.24 Status: Inactive 10.29.24

Summary

Price $2,682,281
Built/Renov 1989/2022
Tenant Beef-A-Roo
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,357
Lease Start 06-22-2022
#Units 24
Price/SF $615.63
Expiration 05-31-2042
Tenant Type Fast Casual/Rest.
NOI $214,583
R. Term 17.6
Ownership Fee Simple
Rent/SF $49.25
Increases 2.0%/1/yrs
Pop 5Mi 121,932
Lot/AC 1.19
Options 4/5yrs/2%
AHHI 5Mi $45,965

Lease Highlights

  • Beef-A-Roo has 18+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Beef-A-Roo is strategically located on W. Kearney Street, with access to 23,589 vehicles passing by daily. The property is surrounded by well-known national tenants, including Arby's, Taco Bell, Walgreens, and more. The 5-mile trade area is supported by a population of 121,932 residents with an average household income of $45,965. Springfield is the third most populous city in the state of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Beef-A-Roo
  • Guarantor:Corporate
  • Company:Next Brands & Development
  • # Units:24
  • Stock:Private

About Tenant

Beef-A-Roo is a beloved restaurant chain that has been serving up delicious roast beef sandwiches, which have become a local favorite. Over the decades, the company has expanded its menu to...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,154 61,404 122,471
2023 Total Population : 8,064 60,587 120,485
2023 Employed Civilian Pop : 3,307 25,126 55,921
2023 Total Businesses : 361 2,723 5,897
2023 Average Household Income : $ 51,495 $ 52,528 $ 57,334
2023 Total Consumer Spending : $ 156 M $ 1190 M $ 2613 M
2023 Median Age : 37 34 34
2023 Total Households : 3,431 25,708 51,850
2023 Pop Age 25+: Bachelor's Degree : 697 5,208 13,650
2023 Average Home Value : $ 121,162 $ 150,208 $ 178,701
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Kearney St Hwy 744 2004 25,332 0.07 mi
N Bolivar Rd W Kearney St 2004 1,792 0.10 mi
N Bolivar Rd W Turner St 2004 1,008 0.11 mi
W Kearney St N Kansas Expy 2010 23,613 0.12 mi
W Kearney St N Fort Ave 2004 23,765 0.13 mi
W Kearney St N Kansas Expy 2019 12,274 0.15 mi
North Kansas Expressway W Scott St 2022 12,245 0.15 mi
N Kansas Expy W Kearney St 2019 12,143 0.16 mi
N Kansas Expy W Kearney St 2005 21,531 0.16 mi
N Kansas Expy N Bolivar Rd 2014 27,445 0.18 mi

Listing Broker

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