Cap Rate: 6.00%
Net Operating Income: $70,000
Square Footage: 3,794
Lot Size: 1.69 AC
The subject property is a freestanding Pizza Hut located in Emporia, KS. Pizza Hut has a brand new 10 year absolute net lease with four five-year options to renew. The lease calls for rent escalations of 10% every 5 years. The asset is located nearby several retailers including Starbucks and Applebee’s.
Emporia is a city in and the county seat of Lyon County, Kansas, United States.As of the 2010 census, the city population was 24,916. Emporia lies between Topeka and Wichita at the intersection of U.S. Route 50 with Interstates 335 and 35 on the Kansas Turnpike. Emporia is also a college town, home to Emporia State University and Flint Hills Technical College.