Investment Offering
Kearney, NE - Little Caesars
221 W. 39th Street | Kearney, NE 68845
$2,064,000
Price7%
Cap Rate$144,476
NOI2,240
± SF Offering GLA0.42
± AC Land AreaDescription
Lee & Associates | Omaha is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru equipped, freestanding Little Caesars investment property located in Kearney, Nebraska. The tenant, Little Caesars, recently signed a brand new 25-year lease, demonstrating their commitment to the site. The lease features 1.5% rental increases beginning on the sixth year of the initial term, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. With over 4,170 stores, Little Caesars is the largest carryout pizza chain in the country.
Location
The subject property is strategically located near the signalized, hard-corner intersection of W. 39th Street and 2nd Avenue, which averages a combined 39,900 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign, and has multiple points of ingress/egress. Furthermore, the building is equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The property is ideally situated within close proximity to numerous national/credit and regional tenants including Target, Ross Dress for Less, Walmart Supercenter, Petsmart, Hobby Lobby, Five Below, Marshalls, Menards, Sherwin Williams, HyVee, Starbucks, Family Fresh Market, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by 38,598 residents and 27,071 employees, providing a direct consumer base from which to draw. Residents within 1 mile of the subject property boast a stable average household income of $93,326.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215
Boomer Peterson
Lee & Associates[email protected]