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Golf Galaxy 12020 Metcalf Ave 28,163 SF Retail Building Overland Park, KS 66213 $5,433,000 ($192.91/SF) 6.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand-new 5-year lease extension with an above-market 15% rental increase scheduled for the 1st option and 5% rental increases for the 2nd & 3rd
- Lease is guaranteed by tenant’s parent company – Dick’s Sporting Goods, Inc. (see below)
- The adjacent Whole Foods ranks in the top 10% of grocery stores in Kansas in terms of annual visits per Placer.ai
- Tenant paying $12.25/SF – other tenants recently executed leases at $17.50-24.50/SF in same center
- One of the largest specialty sports equipment retailers in the U.S. with 850+ Dick’s locations and another 100+ Golf Galaxy locations nationwide
EXECUTIVE SUMMARY
Golf Galaxy recently signed a 5-year lease extension with three additional 5-year extension options featuring a 15% rental increase in the first option and a 5% increase in the second and third options. The subject property is located in Kansas City’s top intersection – anchored by Whole Foods, which ranks in the top 10% of grocery stores in Kansas in terms of annual visits per Placer.ai.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
28,163 SF
Building Class
B
Year Built
1999
Price
$5,433,000
Price Per SF
$192.91
Cap Rate
6.35%
NOI
$344,997
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Slab To Slab
12’
Building FAR
0.86
Lot Size
0.75 AC
Zoning
CP-2 - Planned General Business District
Parking
50 Spaces (1.78 Spaces per 1,000 SF Leased)
Frontage
309’ on Metcalf Ave
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | NP12340000-0005 | Improvements Assessment | $888,243 |
| Land Assessment | $118,733 | Total Assessment | $1,006,976 |
PROPERTY TAXES
Parcel Number
NP12340000-0005
Land Assessment
$118,733
Improvements Assessment
$888,243
Total Assessment
$1,006,976
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Golf Galaxy | 12020 Metcalf Ave
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