12989 Center Rd Omaha, NE 68144

Property Details for 12989 Center Rd

Year built

1995

Lot size

0.36 lot acres

Property size

2,400 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a fee-simple ownership of a Bruegger's Bagels QSR/Fast Food property in Omaha, Nebraska. The 2,400 square foot building, constructed in 1995, sits on a 0.36-acre lot and boasts a drive-thru. Currently operating under a Net Net Net (NNN) lease with Bruegger's Enterprises, Inc., the lease has a remaining term of approximately 7.8 years, expiring August 30, 2032, with a 5-year option to renew. The tenant recently renewed for seven years with a 35% rent increase, demonstrating strong commitment. The property enjoys a 6.50% cap rate and a Net Operating Income (NOI) of $100,800, based on an asking price of $1,551,000. Sales figures show strong performance, exceeding $1.02 million in the trailing twelve months through May 2024, representing a 20% increase since 2021 and a remarkable 51% year-to-date increase compared to the same period in the previous year. This location ranks in the 83rd percentile chainwide and is the top-performing of three Bruegger's Bagels locations in Omaha. The property benefits from its location in a high-growth area, with population increases of 16.6% within one mile and 10.6% within three miles since the 2010 census. It's situated in a busy shopping center with strong cross-traffic, offering excellent visibility on W Center Road (37,137 vehicles per day) and proximity to a major intersection (62,800 vehicles per day). The surrounding area includes numerous national retailers, further enhancing the property's appeal. Rent bumps are structured at 10% per option.