1700 W 29th St - Auto Dealership FOR SALE


Kansas City, MO 64108
$9,059,000 USD
949-698-1115
1700 W 29th St, Kansas City, MO for Sale
$9,059,000 USD
Auto Dealership - FOR SALE
1/9
null | 6.75% Cap Rate

1700 W 29th St
Kansas City, MO 64108


HIGHLIGHTS

  • Approximately 17 Years Remaining | Options To Extend | Well Known & Established Tenant
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Interstate 95 (97,700 VPD) | Strong National/Credit Tenants | Walking Distance From Multiple Apartment Complexes
  • Recent Stock Surge (NYSE: CVNA) | 500% Increase in the Past Year
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding Carvana investment property located in Kansas City, Missouri. The tenant, Carvana, LLC has approximately 17 years remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features increases equal to the lesser of (i) 9.608413% or (ii) 1.25x CPI throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$9,059,000 USD

PRICE/SF

$1,250 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carvana | 17yrs Remain Corp Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Dealership

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

General Commercial

APN/PARCEL ID

29-920-20-08-00-0-00-000

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
949-698-1115

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Patrick LutherSRS National Net LeaseMore Info
949-698-1115

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.