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Drug Store

Walgreens

15066 W 151st St, Olathe, KS 66062

Listing Price: $6,450,000

Cap Rate
6.65%
Tenant Name
Walgreens
Years Remaining On Lease
6.5
Guarantor
Corporate Guarantee
Rentable SF
14,631
Lease Type
Absolute Net
Rent Per Square Feet
$29.32

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 15066 West 151st Street (The Property), a 14,631-square-foot building in which Walgreens previously executed an early five-year lease renewal on their original 20-year absolute triple net lease. The Property sits at the signalized corner of West 151st Street and South Black Bob Road, providing maximum visibility to a combined 34,000+ vehicles every day. Directly south of the Property sits a HyVee grocery store with major outlot tenants such as Phillips 66, T-Mobile, McDonald’s, Great Clips, Tropical Smoothie Café, and multiple others. Other neighboring retail tenants include Sonic and Taco Bell at the southwest corner of the intersection, as well as Starbucks, FedEx, State Farm, Edward Jones, Jersey Mike’s Subs, and Academy Bank located across the street at the northwest corner. Additionally, the Property is only a five-minute drive from the Johnson County Executive Airport, making the retail corridor a convenient shopping location for travelers and Olathe residents alike.

Investment Highlights

  • Long-Term Tenant has Operated at Location for 18+ Years and Extended Early Lease Renewal
  • Almost Seven Years of Lease Term Remaining – Absolute Net Lease with Zero Landlord Responsibilities
  • Located on Prominent Intersection – Combined 34,000+ VPD
  • Notable Neighboring Retail Tenants – Starbucks, FedEx, McDonald's, Sonic, Taco Bell, HyVee & Many More

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Listing Price: $6,450,000

Cap Rate
6.65%
Tenant Name
Walgreens
Years Remaining On Lease
6.5
Guarantor
Corporate Guarantee
Rentable SF
14,631
Lease Type
Absolute Net
Rent Per Square Feet
$29.32

Investment Highlights

  • Long-Term Tenant has Operated at Location for 18+ Years and Extended Early Lease Renewal
  • Almost Seven Years of Lease Term Remaining – Absolute Net Lease with Zero Landlord Responsibilities
  • Located on Prominent Intersection – Combined 34,000+ VPD
  • Notable Neighboring Retail Tenants – Starbucks, FedEx, McDonald's, Sonic, Taco Bell, HyVee & Many More

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 15066 West 151st Street (The Property), a 14,631-square-foot building in which Walgreens previously executed an early five-year lease renewal on their original 20-year absolute triple net lease. The Property sits at the signalized corner of West 151st Street and South Black Bob Road, providing maximum visibility to a combined 34,000+ vehicles every day. Directly south of the Property sits a HyVee grocery store with major outlot tenants such as Phillips 66, T-Mobile, McDonald’s, Great Clips, Tropical Smoothie Café, and multiple others. Other neighboring retail tenants include Sonic and Taco Bell at the southwest corner of the intersection, as well as Starbucks, FedEx, State Farm, Edward Jones, Jersey Mike’s Subs, and Academy Bank located across the street at the northwest corner. Additionally, the Property is only a five-minute drive from the Johnson County Executive Airport, making the retail corridor a convenient shopping location for travelers and Olathe residents alike.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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