perkins restaurant & bakery€¦ · the information contained in the following marketing...

Perkins Restaurant & Bakery3939 South Bolger Road

Independence, MO 64055

Kansas City MO-KS MSA

Westwood Net Lease Advisors, LLC

Division of 1031-NNN Properties

314-997-5227

www.westwoodnetlease.com

Andrew Medler | Vice President

314-563-2203

[email protected]

Confidential Offering Memorandum

Actual Site

http://www.westwoodnetlease.com

mailto:[email protected]?subject=Forward%20Details%20on%20Perkins%20in%20Independence,%20MO






314-997-5227



314-563-2203

[email protected]

Confidentiality Agreement

The information contained in the following Marketing Brochure

is proprietary and strictly confidential. It is intended to be

reviewed only by the party receiving it from Westwood Net

Lease Advisors and should not be made available to any other

person or entity without the written consent of Westwood Net

Lease Advisors. This Marketing Brochure has been prepared to

provide summary, unverified information to prospective

purchasers, and to establish only a preliminary level of interest

in the subject property. The information contained herein is not

a substitute for a thorough due diligence investigation.

Westwood Net Lease Advisors has not made any investigation,

and makes no warranty or representation, with respect to the

income or expenses for the subject property, the future

projected financial performance of the property, the size and

square footage of the property and improvements, the

presence or absence

of contaminating substances, PCB's or asbestos, the

compliance with State and Federal regulations, the physical

condition of the improvements thereon, or the financial

condition or business prospects of any tenant, or any tenant’s

plans or intentions to continue its occupancy of the subject

property. The information contained in this Marketing Brochure

has been obtained from sources we believe to be reliable;

however, Westwood Net Lease Advisors has not verified, and

will not verify, any of the information contained herein, nor has

Westwood Net Lease Advisors conducted any investigation

regarding these matters and makes no warranty or

representation whatsoever regarding the accuracy or

completeness of the information provided. All potential buyers

must take appropriate measures to verify all of the information

set forth herein.








314-997-5227



314-563-2203

[email protected]

Site Description

The Property is a single-tenant building leased on a long-term basis with 17 years remaining to CyHawk Hospitality, a 13

unit operator of Perkin’s restaurants in Missouri and Iowa. CyHawk has seen rapid growth in recent years increasing from

four total locations to 13 with plans of continued growth. The operator is personally guaranteeing the lease.

The site has an excellent location as an outparcel to a Sam’s and Wal-Mart center along with Taco Bell, McDonald’s and

National Tire & Battery. The center is heavily trafficked and with easy access to and visibility from Interstate 70.

The site is located in one of Kansas City’s most dynamic retail trade areas. Most of the major national big box retailers,

including Wal-Mart, Sam’s, Kohl’s, Lowe’s, Best Buy, Marshall’s, Target, AMC Theaters, Hobby Lobby, Dick’s Sporting

Goods, Bed Bath and Beyond and others can be found within one mile of the site. Further, with regional draws in the

immediate trade area of the site, such as Macy’s, Dillard’s, CarMax, Costco and Bass Pro Shops Outdoor World, people

come to Independence from all over the Kansas City region for shopping and dining.

There is also a substantial medical component to the Independence market as well as retail. Centerpoint Medical Center is

a hospital campus with 221 private rooms, outpatient services, state-of-the-art equipment and technology and some of the

latest clinical services available. Children’s Mercy Hospital, located within a short distance of the site in Independence,

features specialty clinic services, radiology, lab, as well as convenient urgent care hours.

Independence is the fourth largest city in Missouri with a 2010 population of 116,830. Independence is the county seat of

Jackson County and is part of the Kansas City, MO-KS MSA. It is the hometown of President Harry Truman and location of

the Truman Presidential Library and Museum. President Truman and First Lady Bess Truman are buried in Independence.








314-997-5227



314-563-2203

[email protected]

Property Description Highlights

Location:

Purchase Price:

Cap Rate:

NOI:

Total Rentable Area:

Lot Size:

Year Built:

Commencement Date:

Expiration Date:

3939 South Bolger Road


$2,142,215

6.50%

$139,260

5,500 Square Feet

1.36 Acres

2011

August 9, 2011

August 8, 2032

Absolute NNN Lease Structure – No Landlord

Responsibilities

17+ Years Remaining on Base Term of Lease

Annual Increases of 1%

Personal guarantee of experienced operator with 13 total

stores

Heavy retail area surrounding site in all directions

Many national big box retail tenants operate within one

mile of the site

Macy’s, Costco, CarMax, Bass Pro Shops, Dillard’s and

other regional draws are located within one mile of the site

Substantial medical facilities within one mile of the site

Average Household Income within 3 miles of site of over

$70,000

Area has growing population and increasing household

income








314-997-5227



314-563-2203

[email protected]








314-997-5227



314-563-2203

[email protected]

Photos








314-997-5227



314-563-2203

[email protected]








314-997-5227



314-563-2203

[email protected]

Traffic Count Map








314-997-5227



314-563-2203

[email protected]



perkins restaurant & bakery€¦ · the information contained in the following marketing...

Documents