Listed by Sands Investment Group Austin, Sands Investment Group
$825,000
TruGreen - Topeka, KS
Details
Property Type Industrial
Sub Type Distribution, Flex
Square Footage 10,080
Cap Rate 6.89%
NOI $56,851
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 45.5
Lease Expiration 07/31/2032
Remaining Term 6
Rent Bumps Yes
Lease Options 1 x 5 Year Option
Price per SqFt $82
Year Built 1986
Acreage 0.990
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/01/1987
Ground Lease No
TruGreen | Recent Lease Extension | 3% Annual Increases | Topeka, KS
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 10,080 SF TruGreen Lawncare facility in Topeka, KS. TruGreen has operated out of this facility for nearly 40 years and just exercised its 9th lease extension. With a passive net lease structure and strong 3% annual increases, this is a great bite-sized opportunity for investors looking for a reliable and hands-free industrial investment.
Investment highlights
- National Credit Tenant: TruGreen is the nation's largest commercial and residential lawn care company, servicing over 2.3 million customers annually across its 270+ locations in North America.
- Long-Term Tenancy: TruGreen has been operating out of this facility since 1986 and just exercised its ninth lease extension, demonstrating a long-term commitment to this location and market.
- Passive Lease Structure: The lease provides very limited landlord responsibilities and strong annual 3% rent escalations, making this a great opportunity for an investor looking for a hands-free passive investment.
- Strategically Located: Facility is strategically located and highly accessible to I-470, I-335, and U.S. Route 75, allowing the tenant to service the entire Topeka market.
- Healthy Rent & Basis: Rent is slightly below market, and the property is being valued at below replacement cost, making this a safe and stable investment opportunity for any potential buyers.
- Strong Industrial Pocket: The Facility is located in the premier industrial pocket in Topeka and is located near other notable tenants with synergy, such as Foley Equipment (CAT), FedEx, Frito-Lay, Bimbo Bakeries, FleetPride, Tractor Supply, and Walmart.
Listing Contacts
Listed by Sands Investment Group Austin, Sands Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$56,851.00
$4,737.58/mo
Valuation Metrics
0
DSCR
6.89%
Cap Rate
6.89%
ROI
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