Listed by Hanley Investment Group, Varnum Armstrong Deeter
$4,606,000
Seville Home
Details
Property Type Retail
Square Footage 21,012
Net Rentable (SqFt) 21,012
Cap Rate 7.75%
NOI $357,000
Occupancy 100%
Tenancy Single
Rent Bumps Yes
Year Built 2005
Acreage 0.970
Ground Lease No
Recent 10-Year Lease Extension | Long-Term Operating History; Strong Financials
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/SevilleHome_OverlandPark
Investment highlights
- Single-Tenant Seville Home; Kansas City’s Premier Luxury Furniture Showroom:
- Architecturally stunning freestanding building
- Long-term track record (25 years) operating in the Kansas City market with very strong financials
- Recent 10-year lease extension
- 2% annual rental increases through the main term and option period
- Offered at below replacement cost for extremely high-quality Leawood, KS real estate
- The property features soaring ceiling heights that provide a premium gallery-style environment. This architectural volume enhances the customer experience, accommodates large-scale luxury inventory, and ensures maximum versatility for a wide range of future high-end commercial uses
- The Property is Located at the Signalized Intersection of W. 135th Street and Nall Avenue (48,000+ CPD)
- Strategic Location in 135th Street Retail and Entertainment Corridor: Situated directly across from the Prairiefire Entertainment District and minutes from Corbin Park, placing it at the heart of Johnson County’s premier shopping destination
- Over 3 million square feet of retail is located within two miles of the site
- Prairiefire (2.1 Million Annual Visits, Placer.ai) – AMC Theatres, Chicken “N Pickle, 810 Entertainment, REI, HomeGoods, and the Museum at Prairiefire
- Corbin Park (7.1 Million Annual Visits, and Top 9% of Lifestyle Centers Nationwide, Placer.ai) – Scheels, Von Maur, Dave & Busters, JCPenney’s, Sprouts, and more
- Resurrection Church, Behind the Subject Property, is the Flagship 76-Acre Campus; it is the Largest Methodist Church in the U.S. with Over 24,000 Members
- Dense, Affluent, High-Growth Trade Area:
- Average household incomes of $202,000 within a 1-mile radius
- 176,000+ people within a 5-mile radius
- 17% population growth within a 5-mile radius from 2010 to 2025
- Kansas City MSA:
- 31st largest MSA in the nation; 2.35 million population
- “Nation’s Best Places to Live” by U.S. News & World Report (2024-2025)
- Influx of tech and healthcare companies moving to the MSA
- Named Wall Street Journal’s #18 “2020 Hottest Job Market” out of 381 U.S. metro areas
Listing Contacts
Listed by Hanley Investment Group, Varnum Armstrong Deeter
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$357,000.00
$29,750.00/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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Property History
Tax History
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