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Drug Store

Walgreens | +/-11 Years Remaining | Absolute NNN Lease | Next to Walmart | $85K 3-Mile AHHI

550 South 129th Street, Bonner Springs (Kansas City MSA), KS 66012

Listing Price: $5,825,000

Cap Rate
7.00%
Tenant Name
Walgreens
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$27.51

Investment Overview

The subject offering is a long-term leased Walgreens Pharmacy located in the Kansas City, Missouri/Kansas MSA. The Property's current lease has approximately 11 years of firm lease term remaining on its original lease and fifty, one-year renewal options thereafter. The offering presents an ideal investment for a Buyer seeking a best-in-class investment-grade corporate tenant ranked #18 in the Fortune 500.

The subject site is located just south of Interstate 70 and Old Dominion Freight Line’s $45 million new development and is positioned at a hard corner, signalized intersection that experiences approximately 31,000 vehicles-per-day and surrounded by various national retailers. Retailers in the immediate area include: Walmart, Price Chopper, Starbucks, Arby’s, AutoZone, McDonald’s, Dollar Tree, Anytime Fitness and Ace Hardware. The Property is also only 10 minutes from the Kansas Speedway, which currently hosts two annual NASCAR race weekends and is located within the Kansas City, Missouri MSA which is the largest city in Missouri and the 36th most-populous city in the United States. Constructed in 2010 on an over-sized 2.53 acre lot, this is an opportunity to acquire a well-positioned passive, cash flowing investment property backed by one of the largest healthcare & pharmacy organizations in the world with an attractive yield in a market with continuing commercial & residential development growth

Investment Highlights

  • Passive Lease Structure – Tenant Responsible for CAM, Taxes, Insurance and Roof and Structure
  • Interstate 70 and Old Dominion Freight Line's Brand New $45 Million Industrial Development Directly North
  • Surrounded by Various National Retailers: Price Chopper, Walmart, AutoZone, McDonald's, Starbucks and Caliber Collision
  • Long Lease Term Remaining: +/-11 Years Left on Original Lease with Fifty, One-Year Options to Renew
  • Over-Sized 2.53 Acre Lot with Multiple Points of Ingress/Egress
  • Strong Demographics: Average Household Income in Three Miles is Approximately $85,000

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Drug Store

Walgreens | +/-11 Years Remaining | Absolute NNN Lease | Next to Walmart | $85K 3-Mile AHHI

Listing Price: $5,825,000

Cap Rate
7.00%
Tenant Name
Walgreens
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$27.51

Investment Highlights

  • Passive Lease Structure – Tenant Responsible for CAM, Taxes, Insurance and Roof and Structure
  • Interstate 70 and Old Dominion Freight Line's Brand New $45 Million Industrial Development Directly North
  • Surrounded by Various National Retailers: Price Chopper, Walmart, AutoZone, McDonald's, Starbucks and Caliber Collision
  • Long Lease Term Remaining: +/-11 Years Left on Original Lease with Fifty, One-Year Options to Renew
  • Over-Sized 2.53 Acre Lot with Multiple Points of Ingress/Egress
  • Strong Demographics: Average Household Income in Three Miles is Approximately $85,000

Investment Overview

The subject offering is a long-term leased Walgreens Pharmacy located in the Kansas City, Missouri/Kansas MSA. The Property's current lease has approximately 11 years of firm lease term remaining on its original lease and fifty, one-year renewal options thereafter. The offering presents an ideal investment for a Buyer seeking a best-in-class investment-grade corporate tenant ranked #18 in the Fortune 500. The subject site is located just south of Interstate 70 and Old Dominion Freight Line’s $45 million new development and is positioned at a hard corner, signalized intersection that experiences approximately 31,000 vehicles-per-day and surrounded by various national retailers. Retailers in the immediate area include: Walmart, Price Chopper, Starbucks, Arby’s, AutoZone, McDonald’s, Dollar Tree, Anytime Fitness and Ace Hardware. The Property is also only 10 minutes from the Kansas Speedway, which currently hosts two annual NASCAR race weekends and is located within the Kansas City, Missouri MSA which is the largest city in Missouri and the 36th most-populous city in the United States. Constructed in 2010 on an over-sized 2.53 acre lot, this is an opportunity to acquire a well-positioned passive, cash flowing investment property backed by one of the largest healthcare & pharmacy organizations in the world with an attractive yield in a market with continuing commercial & residential development growth

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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