QuikTrip (GL)

110 South Rock Road, Wichita, KS 67206

$3,525,000

Cap Rate 4.75%

DOM: 36 Updated: 11.30.23 Posted: 05.09.23 Status: Sold 06.15.23

Summary

Price $3,525,000	Built/Renov 1992	Tenant QuikTrip (GL)
Cap Rate 4.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,312	Lease Start 04-01-2023	#Units 979
Price/SF $663.59	Expiration 03-31-2043	Tenant Type Convenience/Gas
NOI $167,375	R. Term 17.9	Ownership Ground Lease
Rent/SF $31.51	Increases 10.0%/5/yrs	Pop 5Mi 174,906
Lot/AC 1.70	Options 10/5yrs	AHHI 5Mi $80,235

Highlights

Brand-new 2023 construction
QuikTrip signed a brand new 20 year lease in 2023 with 10 (5-year) options to extend
Lease features rental increases every 5 years in the initial term and throughout each option period
Absolute NNN lease | Zero landlord responsibilities

Location Description

The subject property was constructed in 2023 for QuikTrip and is located at the signalized hard corner intersection of Douglas Avenue and Rock Road with a combined traffic count of 33,000 cars per day. The site is strategically located at the same intersection as Towne East Square, the 1.15 million square foot 2-story enclosed shopping center, which is the largest retail shopping destination...

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Key Features

New construction
Signalized intersection
New prototype
Hard corner intersection
Oversized lot
Highway close
Top 100 MSA
Strong demographics
Brand new lease
Corporate Guarantee

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Links

QuikTrip Wikipedia QuikTrip Wikipedia Wichita, Kansas Zip Code 67214 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: QuikTrip (GL)
Guarantor:Corporate
Company:The QuikTrip Corporation
# Units:979
Stock:Private

About Tenant

The QuikTrip Corporation, more commonly known as QuikTrip (QT), is an American chain of convenience stores and gas stations that primarily operates in the Midwestern, Southern, and Southeastern...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,721	81,250	174,824
2023 Total Population :	7,738	81,130	173,876
2023 Employed Civilian Pop :	3,838	40,307	82,115
2023 Total Businesses :	617	3,667	7,836
2023 Average Household Income :	$ 115,669	$ 86,551	$ 82,097
2023 Total Consumer Spending :	$ 332 M	$ 2584 M	$ 5066 M
2023 Median Age :	40	36	35
2023 Total Households :	3,353	34,350	70,974
2023 Pop Age 25+: Bachelor's Degree :	1,873	13,280	25,977
2023 Average Home Value :	$ 271,229	$ 257,114	$ 247,218

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N 2nd Ave		2000	30,851	0.06 mi
East Douglas Avenue	Huntington St	2010	12,050	0.07 mi
	E Lynwood	2010	28,542	0.08 mi
North Rock Road	E Douglas Ave	2018	26,500	0.11 mi
	N 2nd Ave	2021	26,248	0.29 mi
East Douglas Avenue	N Rock Rd	2021	12,183	0.30 mi
	E Kellogg Dr N	2011	30,251	0.40 mi
US 54;US 400	N 2nd Ave	2021	47,953	0.46 mi
East Douglas Avenue	S Armour St	2021	6,851	0.46 mi
	S Whittier St	2010	7,088	0.47 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
30657 Views
77 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
29805 Views
80 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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