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Verizon 4651 Bauer Farm Dr 2,400 SF Retail Building Lawrence, KS 66049 $1,772,000 ($738.33/SF) 7.15% Cap Rate
INVESTMENT HIGHLIGHTS
- 4+ years remaining in the base term with three, 5-year extension options
- 2019 build-to-suit construction with 15-year roof warranty in place (~10 years remaining)
- Affluent submarket – $115,000 average household incomes within a 1-mile radius of the subject property
- 10% rental increases at start of each option providing a hedge against inflation
- Standalone visibility on W 6th Street – 23,000 VPD
- Home to University of Kansas – 30,700 students
EXECUTIVE SUMMARY
Long-term lease to the largest authorized Verizon retailer in the U.S. with 4+ years remaining in the base term and three, 5-year options to extend at 10% rental increases. Subject property is located in Lawrence – a densely populated college town home to the University of Kansas (30,770 students).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
2,400 SF
Building Class
B
Year Built
2019
Price
$1,772,000
Price Per SF
$738.33
Cap Rate
7.15%
NOI
$126,720
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.79 AC
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 068-28-0-40-08-002.01-0 | Improvements Assessment | $224,423 |
| Land Assessment | $145,678 | Total Assessment | $370,101 |
PROPERTY TAXES
Parcel Number
068-28-0-40-08-002.01-0
Land Assessment
$145,678
Improvements Assessment
$224,423
Total Assessment
$370,101
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Verizon | 4651 Bauer Farm Dr
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