1625 Wanamaker Rd Topeka, KS 66604-3814

This exceptional investment opportunity presents a leased fee interest (land ownership) in a freestanding Chick-fil-A restaurant in Topeka, Kansas. The property boasts a 4,730 square foot building on a 1.51-acre lot, featuring a double drive-thru and ample 83-space parking. Built in 2010, the property benefits from a highly visible location at a signalized, hard corner intersection with over 30,000 vehicles passing daily. The current 15-year lease, commencing September 1, 2016, and expiring August 31, 2031, has approximately 6.8 years remaining, with six 5-year renewal options. The lease is an absolute NNN (triple net) structure, meaning zero landlord responsibilities. The tenant, Chick-fil-A, Inc., provides a corporate guarantee and has demonstrated long-term commitment with a planned 2023 remodel. The lease includes 10% rental increases every five years, ensuring consistent NOI growth and inflation protection. The property's strong location within a dense retail corridor, anchored by Kohl's and Barnes & Noble, and proximate to major interstates (I-70 and I-470), contributes to its high visibility and accessibility. The surrounding area boasts a robust demographic profile, with over 92,000 residents and 77,000 daytime employees within a 5-mile radius, and an average household income exceeding $96,000 within a 3-mile radius. The property's current NOI is $115,500, resulting in a 4.05% cap rate, and the asking price is $2,850,000 ($602.54 per square foot). The property is zoned C4: Commercial District and has an APN of 143-05-0-10-02-001.05. This is a truly exceptional, low-management investment opportunity with a strong tenant and significant upside potential.