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. For Information Contact: BLOCK & COMPANY, INC., Realtors In the Skelly Building on the Country Club Plaza 605 West 47th Street, Suite 200, Kansas City, Missouri 64112 816.753.6000 NEW NET LEASE INVESTMENT PROPERTY Metcalf Avenue at 136th Street, Overland Park, Kansas Long term absolute triple net long term lease Join Staples, Bo Lings Restaurant, Capitol Federal, and many more Just west of new Von Maur, JC Penney, Lifetime Fitness, and retail stores in the Corbin Park Development Located at the heart of Overland Park’s newest retail growth area 135th Street & Metcalf Avenue carry over 72,000 cars per day Excellent for long term hold opportunity with virtually no competition in the area 4,563 sq ft building on approximately 45,360 sq ft lot Phillips 66 Convenience Store For Information Estimated Population 177,020 Average Household Income $121,297 Five Mile Radius David Block 816.412.7400 [email protected]Jay Friedman 816.412.7334 [email protected]
16
Embed
NEW NET LEASE INVESTMENT PROPERTY€¦ · BLOCK & COMPANY, INC., Realtors 816.753.6000 All information furnished regarding property for sale or lease is from sources deemed reliable,
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
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.
For Information Contact:BLOCK & COMPANY, INC., RealtorsIn the Skelly Building on the Country Club Plaza605 West 47th Street, Suite 200, Kansas City, Missouri 64112
816.753.6000
NEW NET LEASE INVESTMENT PROPERTY
Metcalf Avenue at 136th Street, Overland Park, Kansas
Long term absolute triple net long term lease
Join Staples, Bo Lings Restaurant, Capitol Federal, and many more
Just west of new Von Maur, JC Penney, Lifetime Fitness, and retail stores in the Corbin Park Development
Located at the heart of Overland Park’s newest retail growth area
135th Street & Metcalf Avenue carry over 72,000 cars per day
Excellent for long term hold opportunity with virtually no competition in the area
4,563 sq ft building on approximately 45,360 sq ft lot
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
Real Estate Investment Details ..................................................................................... 3
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
TABLE OF CONTENTS
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
ANALYSIS
Analysis Date: April 2010Scenario: All Cash
PROPERTY
Property: For Sale Net Leased C-Store Property Address: 13620 Metcalf
Overland Park(Kansas City Suburb), KS 66223
FINANCIAL INFORMATION
Down Payment: $2,700,000Passive Loss Rules: NoClosing Costs: $20,000Discount Rate: 0%
DISCLAIMER: All information is believed to be accurate.The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax orother professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting,tax or other professional area before making any decisions.
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
REAL ESTATE INVESTMENT DETAILS
Overland Park, Kansas (Kansas City Suburb)
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
PROPERTY PHOTOS
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
13620 Metcalf Avenue, Overland Park, Kansas
NNM i s s i o n R o a d M i s s i o n R o a d 5 , 0 0 0 c a r s p e r d a y5 , 0 0 0 c a r s p e r d a y
DEER CREEK DEER CREEK
WOODSWOODS
PROPOSED CORBIN PARKPROPOSED CORBIN PARK
DEVELOPMENTDEVELOPMENT
SOUTH CREEKSOUTH CREEK
OFFICE PARKOFFICE PARK
PARKWAY
PLAZAPLAZA
PLAZAPLAZA
POINTEPOINTE
Deer Creek Deer Creek
Country ClubCountry Club
Nicklaus Golf ClubNicklaus Golf Club
at Lion’s Gateat Lion’s Gate
R o e Av e n u e R o e Av e n u e 7 , 0 0 0 c a r s p e r d a y7 , 0 0 0 c a r s p e r d a y
N a l l Av e n u e N a l l Av e n u e 1 6 , 0 0 0 c a r s p e r d a y1 6 , 0 0 0 c a r s p e r d a y
M e t c a l f Av e n u e M e t c a l f Av e n u e 2 8 , 0 0 0 c a r s p e r d a y2 8 , 0 0 0 c a r s p e r d a y
13
5t
h S
tr
ee
t
1
35
th
St
re
et
44
,00
0 c
ar
s p
er
da
y4
4,0
00
ca
rs
pe
r d
ay
PRAIRIE FIREPRAIRIE FIRE
DEVELOPMENTDEVELOPMENT
S I T ES I T E
CORNERSTONECORNERSTONE
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
13620 Metcalf Avenue, Overland Park, Kansas
NN
B l u e Va l l e y P a r k w a y B l u e Va l l e y P a r k w a y 6 4 , 0 0 0 c a r s p e r d a y6 4 , 0 0 0 c a r s p e r d a y
13
5t
h S
tr
ee
t
1
35
th
St
re
et
55
,00
0 c
ar
s p
er
da
y5
5,0
00
ca
rs
pe
r d
ay
M e t c a l f Av e n u e M e t c a l f Av e n u e 2 8 , 0 0 0 c a r s p e r d a y2 8 , 0 0 0 c a r s p e r d a y
A n t i o c h R o a d A n t i o c h R o a d 2 2 , 0 0 0 c a r s p e r d a y2 2 , 0 0 0 c a r s p e r d a y
13
2n
d S
t re
et
13
2n
d S
t re
et
N E W N E W
1 3 2 N D S T R E E T1 3 2 N D S T R E E T
F LYO V E RF LYO V E R
13
7t
h S
tr
ee
t
13
7t
h S
tr
ee
t
P R O P O S E D P R O P O S E D
C O R B I N PA R KC O R B I N PA R K
D E V E L O P M E N TD E V E L O P M E N T
D E E R C R E E K D E E R C R E E K
W O O D SW O O D S
S O U T H C R E E K S O U T H C R E E K
O F F I C E PA R KO F F I C E PA R K
S I T ES I T E
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
13620 Metcalf Avenue, Overland Park, Kansas
S I T ES I T E
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
Purchase Price $2,700,000Price per Tenant $2,700,000Price per Sq. Ft. $591.72
INCOME, EXPENSES & CASH FLOW
Gross Scheduled Income $219,427Total Vacancy and Credits $0Operating Expenses $0Net Operating Income $219,427Debt Service $0Cash Flow Before Taxes $219,427
Total Interest (Debt Service) $0Depreciation and Amortization ($53,217)
FINANCIAL INDICATORS
Cash on Cash Return Before Taxes 8.07%
Debt Coverage Ratio N/ACapitalization Rate 8.13%Gross Income / Square Feet $48.09Gross Expenses / Square Feet $0.00Operating Expense Ratio 0.00%
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
EXECUTIVE SUMMARY
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
BEFORE TAX IRR
Time Future Cash Flows
Initial Investment ($2,720,000)End of Year 1 $219,427 End of Year 11 $241,918End of Year 2 $223,998 End of Year 12 $246,958End of Year 3 $230,398 End of Year 13 $254,014End of Year 4 $230,398 End of Year 14 $254,014End of Year 5 $230,398 End of Year 15 $254,014End of Year 6 $230,398 End of Year 16* $2,954,014End of Year 7 $235,198End of Year 8 $241,918End of Year 9 $241,918End of Year 10 $241,918
IRR = 8.63% * ($254,014 + $2,700,000)
AFTER TAX IRR
Time Future Cash Flows
Initial Investment ($2,720,000)End of Year 1 $219,427 End of Year 11 $241,918End of Year 2 $223,998 End of Year 12 $246,958End of Year 3 $230,398 End of Year 13 $254,014End of Year 4 $230,398 End of Year 14 $254,014End of Year 5 $230,398 End of Year 15 $254,014End of Year 6 $230,398 End of Year 16* $2,738,031End of Year 7 $235,198End of Year 8 $241,918End of Year 9 $241,918End of Year 10 $241,918
IRR = 8.38% * ($254,014 + $2,484,017)
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
INTERNAL RATE OF RETURN ANALYSIS
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
CASH FLOW ANALYSIS
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16
GROSS SCHEDULED INCOME $241,918 $246,958 $254,014 $254,014 $254,014 $254,014
Total Operating Expenses $0 $0 $0 $0 $0 $0
NET OPERATING INCOME $241,918 $246,958 $254,014 $254,014 $254,014 $254,014
Loan Payment $0 $0 $0 $0 $0 $0
NET CASH FLOW (b/t) $241,918 $246,958 $254,014 $254,014 $254,014 $254,014
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
CASH FLOW ANALYSIS (continued)
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
$26,000
$52,000
$78,000
$104,000
$130,000
$156,000
$182,000
$208,000
$234,000
$260,000
Legend
GROSS OPERATING INCOME NET OPERATING INCOME NET CASH FLOW (b/t)
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)
OPERATING INCOME ANALYSIS
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
FOO
DLN
FOO
DLN
FOO
DLN
FOO
DLN
FOO
DLN
FOO
DLN
FOO
DLN
FOO
DLN
FOO
DLN
LAM
AR
AVE
LAM
AR
AVE
LAM
AR
AVE
LAM
AR
AVE
LAM
AR
AVE
LAM
AR
AVE
LAM
AR
AVE
LAM
AR
AVE
LAM
AR
AVE
W 95TH STW 95TH STW 95TH STW 95TH STW 95TH STW 95TH STW 95TH STW 95TH STW 95TH ST
RO
EA
VER
OE
AV E
RO
EA
V ER
OE
AV E
RO
EA
V ER
OE
AV E
RO
EA
V ER
OE
AV E
RO
EA
V E
LAC
KM
AN
RD
LAC
KM
AN
RD
LAC
KM
AN
RD
LAC
KM
AN
RD
LAC
KM
AN
RD
LAC
KM
AN
RD
LAC
KM
AN
RD
LAC
KM
AN
RD
LAC
KM
AN
RD
W DENNIS AVEW DENNIS AVEW DENNIS AVEW DENNIS AVEW DENNIS AVEW DENNIS AVEW DENNIS AVEW DENNIS AVEW DENNIS AVE
E 155TH STE 155TH STE 155TH STE 155TH STE 155TH STE 155TH STE 155TH STE 155TH STE 155TH ST
JAM
ESA
REE
DR
DJA
MES
AR
EED
RD
JAM
ESA
REE
DR
DJA
MES
AR
EED
RD
JAM
ESA
REE
DR
DJA
MES
AR
EED
RD
JAM
ESA
REE
DR
DJA
MES
AR
EED
RD
JAM
ESA
REE
DR
D
W 111TH STW 111TH STW 111TH STW 111TH STW 111TH STW 111TH STW 111TH STW 111TH STW 111TH ST
PRO
SPEC
TA
VEPR
OSP
ECT
AVE
PRO
SPEC
TA
VEPR
OSP
ECT
AVE
PRO
SPEC
TA
VEPR
OSP
ECT
AVE
PRO
SPEC
TA
VEPR
OSP
ECT
AVE
PRO
SPEC
TA
VE
STATE
LINE
RD
STATE
LINE
RD
STATE
LINE
RD
STATE
LINE
RD
STATE
LINE
RD
STATE
LINE
RD
STATE
LINE
RD
STATE
LINE
RD
STATE
LINE
RD
SLO
NE
ELMR
DS
LON
EELM
RD
SLO
NE
ELMR
DS
LON
EELM
RD
SLO
NE
ELMR
DS
LON
EELM
RD
SLO
NE
ELMR
DS
LON
EELM
RD
SLO
NE
ELMR
D
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
SB
L AC
KB
OB
RD
W 119TH STW 119TH STW 119TH STW 119TH STW 119TH STW 119TH STW 119TH STW 119TH STW 119TH ST
W 151ST STW 151ST STW 151ST STW 151ST STW 151ST STW 151ST STW 151ST STW 151ST STW 151ST ST
W 159TH STW 159TH STW 159TH STW 159TH STW 159TH STW 159TH STW 159TH STW 159TH STW 159TH ST
NA
LLA
VEN
ALL
AVE
NA
LLA
VEN
ALL
AVE
NA
LLA
VEN
ALL
AVE
NA
LLA
VEN
ALL
AVE
NA
LLA
VE
ME TC
ALF
AVE
ME TC
ALF
AVE
ME TC
ALF
AVE
ME TC
ALF
AVE
ME TC
ALF
AVE
ME TC
ALF
AVE
ME TC
ALF
AVE
ME TC
ALF
AVE
ME TC
ALF
AVE
QU
IVIR
AR
DQ
UIV
IRA
RD
QU
IVIR
AR
DQ
UIV
IRA
RD
QU
IVIR
AR
DQ
UIV
IRA
RD
QU
IVIR
AR
DQ
UIV
IRA
RD
QU
IVIR
AR
D
SWIT
ZER
RD
SWIT
ZER
RD
SWIT
ZER
RD
SWIT
ZER
RD
SWIT
ZER
RD
SWIT
ZER
RD
SWIT
ZER
RD
SWIT
ZER
RD
SWIT
ZER
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
AN
TIO
CH
RD
SW
OO
DLA
ND
STS
WO
OD
LAN
DST
SW
OO
DLA
ND
STS
WO
OD
LAN
DST
SW
OO
DLA
ND
STS
WO
OD
LAN
DST
SW
OO
DLA
ND
STS
WO
OD
LAN
DST
SW
OO
DLA
ND
ST
W 103RD STW 103RD STW 103RD STW 103RD STW 103RD STW 103RD STW 103RD STW 103RD STW 103RD ST
W 135TH ST W 135TH ST W 135TH ST W 135TH ST W 135TH ST W 135TH ST W 135TH ST W 135TH ST W 135TH ST E SANTA FE ST E SANTA FE ST E SANTA FE ST E SANTA FE ST E SANTA FE ST E SANTA FE ST E SANTA FE ST E SANTA FE ST E SANTA FE ST
Overland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland Park
This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
S I T ES I T E
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
March 2010
13620 Metcalf Avenue
Overland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland ParkOverland Park
Blue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue SpringsBlue Springs
SITE
Kansas CityKansas CityKansas CityKansas CityKansas CityKansas CityKansas CityKansas CityKansas City
This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
Overland Park, Kansas
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
SUMMARY DEMOGRAPHIC PROFILE1990 - 2000 Census, 2009 Estimates & 2014 ProjectionsCalculated using Proportional Block Groups
Lat/Lon: 38.883744/-94.667789RS1
1.00 mi radius
2.00 mi radius
3.00 mi radius
2009 Estimated Population 11,140 41,689 82,571 2014 Projected Population 12,595 45,921 90,175 2000 Census Population 5,734 27,104 59,783 1990 Census Population 1,407 7,521 25,868
Historical Annual Growth 1990 to 2009 36.4% 23.9% 11.5% Projected Annual Growth 2009 to 2014 2.6% 2.0% 1.8%
Historical Annual Growth 1990 to 2009 34.2% 20.3% 10.3% Projected Annual Growth 2009 to 2014 0.7% 0.2% -0.0%
2009 Estimated White 86.3% 86.4% 87.1% 2009 Estimated Black or African American 5.0% 5.0% 4.7% 2009 Estimated Asian & Pacific Islander 4.2% 4.4% 4.1% 2009 Estimated American Indian & Native Alaskan 0.5% 0.5% 0.5% 2009 Estimated Other Races 4.0% 3.8% 3.6%
2009 Estimated Hispanic 3.6% 3.5% 3.4%
2009 Estimated Average Household Income $ 154,551 $ 141,897 $ 139,918 2009 Estimated Median Household Income $ 133,727 $ 123,876 $ 123,918 2009 Estimated Per Capita Income $ 47,415 $ 45,752 $ 46,042
2009 Elementary 0.8% 0.5% 0.5% 2009 Some High School 1.2% 1.0% 0.9% 2009 High School Graduate 6.5% 8.0% 8.3% 2009 Some College 12.6% 14.4% 15.1% 2009 Associates Degree Only 6.5% 6.6% 6.4% 2009 Bachelors Degree Only 49.0% 45.8% 45.1% 2009 Graduate Degree 23.4% 23.7% 23.7%
Number of Businesses 454 1,652 3,501 Total Number of Employees 6,366 24,290 51,908 Employee Population per Business 14.0 14.7 14.8 Residential Population per Business 24.5 25.2 23.6
HO
USE
HO
LDS
POPU
LATI
ON
This
repo
rt w
as p
rodu
ced
usin
g da
ta fr
om p
rivat
e an
d go
vern
men
t sou
rces
dee
med
to b
e re
liabl
e. T
he in
form
atio
n he
rein
is p
rovi
ded
with
out r
epre
sent
atio
n or
war
rant
y.
February 2010
135th Street & Metcalf AvenueOverland Park, Kansas
BLOCK & COMPANY, INC., Realtors 816.753.6000All 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.
FOR SALE NET LEASED C-STORE13620 Metcalf Avenue, Overland Park, Kansas (Kansas City Suburb)