Quick Trip is one of the most successful fueling and C store operations in the county and for good reason. Their model transformed the industry 20 years ago and is being replicated by many companies successfully. These stores literally can displace the competition in a few months of opening. Not many companies can compete. https://www.quicktrip.com Garden Kansas: https://www.quicktrip.com
Gardner is a type of rural community south of Kansas City Missouri with an above average median income and small-town feel which site on I 35 which will take you to Texas and is a major highway. The town was founded in 1857 and was a key junction of the Sante Fe Trail. it’s basically a suburb of Kansas City and growth has trended southward for some time from Johnson County Kansas. https://www.www.gardnerkansas.gov https://nps.gov
This Quick Trip deal is interesting because the lease term is running out with only a few years remaining. I would take a guess there are no options to extend because of the high cap rate. You will be taking a risk that they close the station and will be stuck holding the bag. Quick Trip plays close to the vest and have been known to relocate stores across a street and “go dark” so the risk is that they have a better site nearby planned. This is a “pad” site in a Price Chopper, which is a large chain in the mid-west, so I think there is a good chance they stay at this location and negotiate for a new lease. The price point is on the high side, so the rents are not low on this deal. I like this deal at a 7% cap but would say 6.5% is a good price if they are inclined to stay. 1031 Doctor™ will professionally review your next NNN deal for $299.00 within 24 hours or it’s free.
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