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151 Coffee
900 North 3rd Street, Manhattan, KS 66502, USA
Sands Investment Group is Pleased to Present For Sale the Single-Tenant 151 Coffee Absolute NNN Property Located at 900 N 3rd Street in Manhattan, Kansas. The Property is Fully Leased to 151 Coffee, a Rapidly Expanding Drive-Thru Coffee Brand That is Redefining the Quick-Service Coffee Experience With a High-Energy, Customer-Centric Approach and Service Award-Winning Coffee. This Asset Features an Absolute NNN Lease, Providing Investors With True Passive Income and Zero Landlord Responsibilities. The Long-Term Lease Structure, Combined With a Growing National Tenant, Offers Both Stability and Upside Potential in One of Kansas’s Most Vibrant College Towns.
Founded and Funded By Mark Wattles, Who Has Founded/Co-Founded Multiple National Brands, Including Hollywood Video (2000 Corporate Owned Stores), HomeAdvisor.com, and Firebirds Wood Fired Grill (55 Restaurants). 151 Coffee Has Quickly Established Itself in the Coffee Sector as One of the Highest Coffee Revenue Per Unit Chains in the Country. The Brand’s Expansion Strategy has Prioritized High-Visibility, Drive-Thru Oriented Sites in Markets With Strong Daytime Traffic and Retail Density, Exactly Like the Offering at 900 N 3rd Street. With a Proven, Scalable Model and a Growing Footprint Across Several States, 151 Coffee is Positioned For Long-Term Success in the QSR Coffee Sector. All of Its Stores Are Corporate-Owned By 151 Coffee, LLC. All Store Leases Are With the Same Entity.
The Property Sits Directly Off Interstate 24, Serving Kansas State University Students and Faculty, Offering Exceptional Visibility and Access Within Manhattan’s Dominant Retail Corridor. The Immediate Trade Area is Anchored By a Powerhouse Lineup of National Retailers, Including Walmart, Hy-Vee, ALDI, Best Buy, Manhattan Town Center Mall, and Manhattan Crossing. Additionally, the Site Benefits From Close Proximity to Kansas State University, Which Brings Over 20,000 Students and Consistent Traffic to the Area Year-Round.
With Strong Real Estate Fundamentals, a High-Performing Tenant, and a Zero-Management Lease Structure, This Offering Represents an Excellent Opportunity For Investors Seeking Secure Income, Long-Term Value, and Exposure to a Brand on the Rise.
- Predictable Returns: Absolute NNN Lease Structure Ensures Passive Income With Zero Management Responsibilities
- Growing National Brand: 151 Coffee is Expanding Rapidly, Positioning Itself as a Competitor to Major Drive-Thru Coffee Chains
- Attractive Yield: Supported By a Tenant With a Seven-Year History of Strong Growth in the Very Attractive $52B Specialty Coffee Store Industry.
- Strategic Location: The Site Boasts Direct Visibility Off of I-24 and is Nestled in the Heart of the Manhattan Retail Corridor; Immediate Surrounding Retailers Include: Walmart, Hy-Vee, Manhattan Town Center Mall, Manhattan Crossing, ALDI, and Best Buy, to Name a Very Small Few
- Proximity to Kansas State University: Dense, Built-In Consumer Base With Over 20,000 Students Contributing to Consistent Daily Traffic
In Cooperation With Sands Investment Group Kansas, LLC – Lic. #CO00002897 BoR: Max Freedman – Lic. KS #241927
151 Coffee
900 North 3rd Street, Manhattan, KS 66502, USA
151 COFFEE
151 Coffee is not your typical drive-thru coffee shop. Fun and happiness drive our culture, and music drives our speed, that’s why we live by the 151 motto “it’s a good day to have a good day.” Each of our drive-thru stores is known for its high volume, award-winning coffee, served through dual drive-thru lanes with highly personalized service utilizing customer-facing baristas taking all orders in the drive-thru lanes, serving coffee faster than anyone in the industry. 151 Coffee is a whole new coffee concept started in 2017. Today, there are fifteen 151 Coffee corporate-owned stores in TX and KS. 151 Coffee is founded and funded by Mark Wattles, who has founded multiple national brands, including Hollywood Video (2000 corporate-owned stores), HomeAdvisor.com, and Firebirds Wood Fired Grill (55 restaurants). At 151, we are leveraging the experience of our founder and the 151 Team to continue our growth of corporate-owned stores and create opportunities for our employees while never forgetting our #1 mission; to have fun! It’s a Good Day to have a Good Day.
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Price
$2,931,111
Cap Rate
6.75%
PREMISES
865 SF
RENEWAL OPTIONS
4 x 5 Year Options
Lease Expiration
03/31/2040
Lease Type
Absolute NNN
RENTAL INCREASES
10% Every 5 Years
BROKERS
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Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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