Listed by Block & Company Inc
Unpriced
Best Buy/Planet Fitness Building
Details
Property Type Retail
Sub Type Shopping Center, General/Street Retail
Square Footage 65,216
Units 2
Cap Rate 6.50%
Occupancy 100%
Tenancy Multi
Brand/Tenant Planet Fitness, Best Buy
Lease Type NNN
Year Built 1999
Acreage 6.100
Investment Type Net Lease
Best Buy - Planet Fitness Building | For Sale
Investment highlights
- Investment grade retail purchase across from Oak Park Mall
- Two tenant building, Best Buy (72% of building) is publicly traded and Planet Fitness (28% of building) is one of the largest franchisees in the country of a publicly traded company
- Dominant market leaders in their respective retail categories
- Excellent Public Market cap for both companies
- Lease extensions with rate increases in future, purchase price on in place rents
- Triple net leases for ease of ownership
- Across from Oak Park Mall, largest mall in the Kansas City Metro area in terms of size and sales
- Located in best retail zone of Johnson County, KS, one of the wealthiest counties in the United States
- Terrific visibility, great traffic counts, and substantial parking
- Area tenants include Target, Nordstrom, Macy’s, TJ Maxx, Home Goods, Michael’s Sam’s Club, Nordstrom Rack and most national retailers
- Greater Kansas City top retail corridor
- Excellent visibility and signage to Quivira Road with great traffic counts and super location identity in the marketplace
- Best Buy and Planet Fitness are both NNN Leases
Listing Contacts
Listed by Block & Company Inc
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