Corporate Hawaiian Bros Drive-Thru 304 SE 291 Hwy

Pegasus Investments Real Estate Advisory Inc and ParaSell, Inc., as exclusive investment sales advisors to Seller, is pleased to offer the opportunity to acquire the fee simple interest (land & building) in a Hawaiian Bros quick-service restaurant (QSR) located in Lee’s Summit (Kansas City), Missouri (the “Property”). The Property is secured by a long-term triple net (NNN) lease to Hawaiian Bros’ corporate entity (“Tenant”), featuring over 10 years of initial base term remaining. The Tenant has successfully operated at this location for nearly 5 years and boasts impressive average unit volumes exceeding $3 million annually.
The Property provides a unique opportunity for investors to acquire a long-term net leased investment asset at a very low basis and well below replacement cost. In 2019, the Seller acquired the asset and did a full gut renovation specific for Hawaiian Bros, who, together with the Seller, invested nearly $2 million into the renovation and buildout of the Property (a 10-year transferrable roof warranty will be assigned at closing). Also, the annual rent at the Property is not only replaceable but about half of the annual rent paid by the Tenant at their comparable de novo locations. The fungible site plan and large building footprint are an ideal prototype for most quick service, coffee, or fast casual operators providing long-term investment insulation.
Situated on an impressive, large 1.13-acre lot, the 3,773 SF structure is equipped with a well-stacked drive-thru and features an impressive 61 parking spaces, providing substantial parking for the Tenant’s strong customer base. Well situated and fully fronting MO Route 291, the Property benefits from excellent visibility and access to the nearly 25,000 VPD in the mature commercial corridor of Lee’s Summit, bookended by Lee’s Summit High School and a high-performing Hy-Vee grocery-anchored shopping center.
An emerging and rapidly growing best-in-class QSR operator, Hawaiian Bros features the use of a traditional plate lunch concept with a unique menu of Hawaiian food options not found in any existing national QSR or fast-casual chains. Founded and based in Kansas City, Hawaiian Bros opened its first location in 2018 and has rapidly grown to over 58 units across nine (9) states. Today, Hawaiian Bros has 15 units open and operating in Kansas City, its largest concentration of units in the country, where it has become a household name. Additionally, Hawaiian Bros has explosive growth and development plans for several hundred units over the next five (5) years. The exceptional average unit volumes in 2023 ranked the Tenant as one of the top 10 best-performing QSR concepts nationally (by average unit volume), according to National Restaurant News.