Cap Rate: 6.75%
Net Operating Income: $20,400
The subject property is a freestanding Scooter’s Coffee located in Parsons, KS. Scooter’s Coffee has a brand new 10 year absolute NNN ground lease with four five-year options to renew. The lease calls for rent escalations of 10% every 5 years. The lease is corporately guaranteed by Scooter’s Coffee for the first four years of the lease. The subject property is brand new construction. The building is 450 square-feet and includes a drive-thru. The asset is located less than one mile from Labette Community College and surrounded by other major retailers. Neighboring tenants include Walgreens, McDonald’s, Pizza Hut, Family Dollar, Ace Hardware, and more.
Parsons is a city in Labette County, Kansas, United States. It is the most populous city of Labette County, and after Pittsburg, is the second-most populous city in the southeastern region of Kansas.
The city is at the junction of U.S. Route 59 and U.S. Route 400. Along US-59, the city of Erie (the county seat of Neosho County) is 17 miles (27 km) to the north and Oswego (the county seat of Labette County) is 20 miles (32 km) south and east. Big Hill Lake is several miles to the west of the city, and Lake Parsons is situated northwest of the city.