Listed by Trinity Real Estate Investment Services
$5,700,000
10 Year NNN La-Z-Boy
Details
Property Type Retail
Sub Type Storefront
Square Footage 20,278
Cap Rate 6.60%
NOI $377,014
Tenancy Single
Lease Type Absolute NNN
Lease Term 30
Lease Expiration 08/31/2036
Remaining Term 10.2
Rent Bumps Yes
Lease Options Two (2), 5-Year; 10%
Price per SqFt $281
Year Built 2006
Acreage 2.010
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2006
Ground Lease No
Ownership Fee Simple
Retail | 6.60% CAP | 20,278 SqFt
Marketing description
Trinity Real Estate Investment Services is pleased to present the opportunity to acquire a La-Z-Boy in Overland Park, KS. The subject property is a premier location within the village of Overland Pointe Retail Node surrounded by Sam's Club, Home Depot, Costco, Chick-fil-A, Chipotle, JCPenney, Ulta, and dozens of national retailers.
Property Website: https://trinityreis.com/listing/7540-w-135th-st/
In cooperation with Brian Brockman at Bang Realty-Kansas Inc | KS #239819 | [email protected] | (513) 898-1551
Investment highlights
- Corporately Guaranteed by La-Z-Boy Incorporated (NYSE: LZB) — Nearly $1.5 Billion Market Cap, $306 Million in Cash, Zero Long-Term Debt, and $2.1 Billion in Annual Revenue
- Absolute NNN Lease With Zero Landlord Responsibilities and Built-In 10% Rent Increases Every 5 Years
- Long-Term Commitment Demonstrated by a Recent 10-Year Lease Extension and 20 Year Operating History at this Location
- Premier Location Within the Village of Overland Pointe Retail Node Surrounded by Sam's Club, Home Depot, Costco, Chick-fil-A, Chipotle, JCPenney, Ulta, and Dozens of National Retailers
- High Visibility and Traffic With 54,900 VPD, Direct Highway 69 Exposure, and a Dense 5-Mile Trade Area Exceeding 211,000 Residents
- Affluent Community With an Average Household Income of Over $168K Within 5-Mile Radius
- Well-Located Within the Kansas City MSA, One of the Midwest's Largest and Most Established Metro Areas, Serving 2.2M+ Residents
Listing Contacts
Listed by Trinity Real Estate Investment Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$377,014.00
$31,417.83/mo
Valuation Metrics
0
DSCR
6.61%
Cap Rate
6.61%
ROI
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