Rib Crib

1720 N. Waldron Street - Hutchinson KS 67502

LTV (Loan to Value)	65.00%	Current NOI	$192,696.00
Interest Rate	4.250%	Capital Rate	7.000%
Fixed Term	10 Years	Land Area	+/- 1.195 Acres
Amortization	25 Years	Lease Type	Absolute NNN
Loan Amount	$1,788,800.00	Property Type	Retail
Payment	$9,690.61	Property Lease	Restaurant
Bulding Size	0 SF	Remaining Terms

Location Description

NNN Lenders is pleased to offer for sale to qualified investors a single tenant restaurant located in Hutchinson, Kansas. The property is leased to The Rib Crib BBQ, Inc. who will corporately guaranty the lease and operate under a new Fifteen (15) year agreement with Three (3), Five (5) year options. The Landlord will enjoy fully passive, fee simple ownership of the land and building with 5% rental increases throughout the primary term and options. The Hutchinson store will join the more than 50 additional Rib Crib locations operating in eight Midwestern states. Founded in 1992, the privately owned company is a restaurant segment leader known for mouthwatering barbeque. Hutchinson, Kansas is the largest city in Reno county and is approximately 50 miles northwest of Wichita. Rib Crib is down the street from the Hutchinson Clinic and the Hutchinson Regional Medical Center & Campus with more than 1,980 employees, serving more than 65,000 residents in Hutchinson and surrounding cities. The subject property is less than 2 miles from Hutchinson Community College with student enrollment of approximately 5,900 students. The property is surrounded by national retailers including Home Depot, Aldi, Chili's, Subway, McDonald's, Big Lots, Dollar General, Applebee's and Starbucks.

Highlights

Long-Term Lease with Favorable Increases – Fifteen (15) year primary term estimated to commence August 24, 2015. Provides Investor with…

Property Description

Hutchinson is the largest city and county seat of Reno County, Kansas, and is located on the Arkansas River. The city, nicknamed “Salt City”, has been home to salt mines since 1887. Located in south-central Kansas, Hutchinson is 39 miles northwest of Wichita and 200 miles west-southwest of Kansas City. As of the 2010 census, the city population was 42,080.Each year, Hutchinson hosts the Kansas State Fair, one of the largest events in the State. It attracts approximately 350,000 people from 105 Kansas counties and several other states. “Hutch” (as locals call it) is the home of Kansas Cosmosphere and Space Center Aerospace Museum and Strataca (formerly Kansas Underground Salt Museum). Prairie Dunes Country Club is a golf course located just outside Hutchinson. Frequently ranked among the best golf courses in the United States, it has hosted several United States Golf Association national championship tournaments.