Listed by Occidental Management
$11,000,000
Northrock 14 Theater
Details
Property Type Retail
Sub Type Commercial
Square Footage 47,586
Cap Rate 8.00%
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 6
Remaining Term 3
Lease Options five-year renewal options,
Year Renovated 2018
Investment Type Stabilized
This property is a Wichita icon located near the high-income and high-traffic area of North Rock Rd.
Marketing description
This property is a Wichita icon located near the high-income and high-traffic area of North Rock Rd. and K-96 in the Northeast Wichita. There are six years left on the initial term and there is a base rent bump every five years. The theater was extensively renovated in 2018 and features a total of 14 screens and 1,014 seats.
Movie-goers can sit back and enjoy a cinema experience from the comfort of reclining stadium leather seats, footrests, and extra wide aisles. Additional income opportunities by renting out the party room and theaters for private functions and corporate events.
This property is listed at $11,500,000.
Investment highlights
- Concessions
- Party room
- Tavern/pub
- Long-Term Lease - Six years of lease term remaining with three five-year renewal options, offering investors a stabilized investment opportunity.
- Consistent Rent Growth – Lease provides base rent increases every five years throughout both the initial term and renewal periods.
- Passive Lease Structure – NNN $9.60 SF
- Significant Tenant Investment into the space, demonstrating their commitment to the location.
- Cap Rate – 8%
- Price – $11,000,000
Listing Contacts
Listed by Occidental Management
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Zoning
GC CommercialGeneral CommercialGeneral Commercial
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