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Kohl's | 6+yrs Remain Corp NN 14020 W Bell Rd 89,047 SF Retail Building Surprise, AZ 85374 $13,853,000 ($155.57/SF) 6% Cap Rate
Investment Highlights
- 6+ Years Remaining | Corporate Guaranteed Lease | Options To Extend | Scheduled Rental Increases
- Surprise Towne Center & Marketplace | Surprise Marketplace |Surprise City Center Development
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Kohl’s investment property located in Surprise, Arizona. The tenant, Kohl’s, has over 6 years of initial term remaining with 8 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Additionally, the tenant’s rent is well below market at $9.33 PSF, providing investors with significant rent growth potential. The property’s roof was replaced in 2022 and has ~6 years remaining on the roof warranty.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
89,047 SF
Building Class
B
Year Built
2003
Price
$13,853,000
Price Per SF
$155.57
Cap Rate
6%
NOI
$831,206
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
9.31 AC
Zoning
PAD
Amenities
- Corner Lot
- Dedicated Turn Lane
- Signalized Intersection
- Monument Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 503-59-985 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,682,272 |
Property Taxes
Parcel Number
503-59-985
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,682,272
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