304 Rte Lee's Summit, MO 64063
- Retail properties
- 3,773 SF
- 1.13 lot acres
Current Use by Public Records
- Retail properties
Property Details for 304 Rte
- Lot size
- 1.13 lot acres
- Property size
- 3,773 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple, 3,773 square foot Hawaiian Bros Island Grill in Lee's Summit, Missouri. Boasting a 10.8-year remaining lease term (expiring 08/23/2035) with a corporate guarantee and 10% rent bumps every five years, this property offers significant long-term stability. The property generates a strong NOI of $174,313, representing a 6.35% cap rate on the $2,745,000 asking price. Situated on a 1.13-acre lot with 61 parking spaces, the building enjoys excellent visibility on Route 291, experiencing traffic from over 25,000 vehicles daily. The tenant, Hawaiian Bros, is a rapidly expanding national chain with impressive average unit volumes exceeding $3 million annually, ranking among the top 10 highest-grossing QSRs nationally in 2023. The property benefits from a prime location within a rapidly growing area, experiencing a 15%+ population increase within a 5-mile radius since 2010, and boasts an average household income of $105,000 within a 3-mile radius. The lease includes five, 5-year options, further enhancing the long-term value of this investment. This single-story building is zoned CP-2 and offers accelerated depreciation potential due to fee-simple ownership. The property underwent a complete renovation in 2019, and a 10-year transferable roof warranty will be assigned at closing. This is a rare opportunity to acquire a high-performing, low-basis QSR investment in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lee's Summit
- County
- Jackson
- State
- Missouri
- Longitude
- -94.3632
- Latitude
- 38.9139
