All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice. All information fur BLOCK & COMPANY, INC., Realtors 605 West 47th Street, Suite 200 Kansas City, Missouri 64112 Single-Tenant Triple Net Leased Investment REAL ESTATE FOR SALE - NEW LISTING 3911 Bolger Road Kansas City (Independence), Missouri NWC of I-70 & 291 Highway Property is located at the only entrance drive to Walmart Supercenter, Sam’s Club, and Petsmart Sales Price: $3,650,000 Cap Rate (Initial): 6.76% Cap Rate (as of 9/1/15): 7.43% NOI (initial): $246,688 NOI (as of 9/1/15): $262,106 Building Size: 15,418 sq ft Land Size: 64,340 sq ft Investment Summary John Cobb 816.412.7326 [email protected]David Block 816.412.7400 [email protected]For information contact: 11 YEARS REMAINING ON CURRENT LEASE TERM! EXCLUSIVE AGENTS
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All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200
Kansas City, Missouri 64112
Single-Tenant Triple Net Leased Investment REAL ESTATE FOR SALE - NEW LISTING
3911 Bolger RoadKansas City (Independence), MissouriNWC of I-70 & 291 Highway
Property is located at the only entrance drive to
Walmart Supercenter, Sam’s Club, and Petsmart
Sales Price: $3,650,000Cap Rate (Initial): 6.76%Cap Rate (as of 9/1/15): 7.43%NOI (initial): $246,688NOI (as of 9/1/15): $262,106Building Size: 15,418 sq ftLand Size: 64,340 sq ft
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Investment SummarySales Price: $3,650,000Cap Rate (Initial): 6.76%Cap Rate (as of 9/1/15): 7.43%NOI (initial): $246,688NOI (as of 9/1/15): $262,106Building Size: 15,418 sq ftLand Size: 64,340 sq ft
Investment Summary Property Highlights Single Tenant NNN Investment Tenant is the largest guitar retailer in the US with 225 stores Pad site of Walmart Supercenter, Sam’s Club, and Petsmart Freestanding building built in 1995 Zoned C-2
Property Highlights
Demographics Population: 132,417 (5-mile radius) Average Household Income: $66,922 (5-mile radius) Intersection carries 63,000 cars per day
Demographics
Lease SummaryLessee: Guitar Center, Inc. Westlake Village, CaliforniaLease Term: 11 years remainingLease Commencement: July 15, 2005Rent Schedule: Years 1-5 $227,416 Years 6-10 $246,688 Years 11-20 $262,106Lease Options: Years 1-5 $311,636 Years 6-10 $323,778Landlord Responsibilities: Limited Scope - Roof, All plumbing and electrical (under & outside premises), foundation, slab, exterior walls, exterior surfaces of premises, structural walls, load bearing walls
NWC I-70 & 291 Hwy., Independence, Missouri Located at the only entrance drive to Walmart Supercenter, Petsmart,
and Sam’s Club Across the street from Independence Center Mall, Bass Pro Shop, Target,
Macy’s, Sears, Costco, Lowe’s, Dillards, JC Penney, Dick’s Sporting Goods, and many others
The I-470 / I-70 retail corridor in eastern Jackson County (Independence) is considered to be one of the most active retail areas in metropolitan Kansas City. This regional power center area boasts over 3 million square feet of retail and is still growing. Independence, Missouri is the fourth largest retail market in Missouri, and is home to the new Bass Pro Shop located on a 180-acre lifestyle development featuring 850,000 sq ft of retail shops.
Location
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Tenant Information
Guitar Center Store, Inc. operates retail stores, which market musical instruments in the United States. They are the worlds largest retailer of guitars, ampli� ers, drums keyboards, recording, live sound, DJ and lighting equipment. They are also the largest direct response retailer of musical instruments in the United States through Musician’s Friend, Inc. a wholly owned subsidiary, and its catalog and Web site, www.musiciansfriend.com. In addition, the company’s Music and Arts division operates more than 100 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. Guitar Center Stores, Inc. was incorporated in 2000 and is based in Westlake Village, California
Guitar Center’s sister companies/subsidiaries incorporate Music & Arts Center, Musician’s Friend, Guitar Center.com, LMI, Giardinelli, Musician.com, Private Reserve Guitars, Woodwind and Brasswind and Harmony Central.
Guitar Center Stores, Inc. operates as a subsidiary of Guitar Center Inc., the largest chain of musical instrument retailers in the world.
Tenant Information UPDATE Wall Street Journal
April 2014: Ares Management LLC took a controlling stake in music-instruments retailer Guitar Center, part of a deal that converted some of the private-equity � rm’s debt in the retailer into equity, the retailer said. Bain Capital, Guitar Center’s former owner, retained partial ownership of the company, along with representation on the board. The Wall Street Journal reported in late February that Ares and Bain Capital were in the � nal stages of hashing out a deal to swap the Guitar Center debt that Ares owns into equity. Ares had owned the majority of Guitar Center’s debt. Guitar Center, a 250-store U.S. chain, had about $1.6 billion in debt, much of it stemming from Bain’s $2.1 billion leveraged buyout of the company in 2007. The company was due to pay about $144 million in annual debt payments through 2016 and about $150 million total in 2017 and 2018, according to recent quarterly securities � ling.
Under the new deal, Guitar Center’s total debt was reduced by about $500 million and its annual cash interest expense was cut by over $70 million. In addition to the debt-to-equity exchange between Ares and Bain Capital, Guitar Center said it completed a re� nancing of its remaining debt at a lower interest rate and providing greater � nancial � exibility.
Mike Pratt, the retailers chief executive, said the deal will provide it with the resources to expand its footprint and invest in its business.
Besides guitars, the retailer sells ampli� ers, percussion instruments, keyboards and audio and recording equipment in stores and online. It also o� ers repair services and rents out rehearsal and lesson space in many stores.
Standard and Poor’s as of April 2014 has upgraded their Credit Rating to BB+
UPDATE Wall Street Journal
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
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All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Neighboring Tenant Photos
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
Supercenter
S I T E
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment
EXCLUSIVE AGENTS
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.
BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.