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Walgreens 4701 Town Center Dr 14,285 SF Retail Building Leawood, KS 66211 $8,102,431 ($567.20/SF) 6.50% Cap Rate
Investment Highlights
- Walgreens is operating under a 75-year Absolute NNN lease with 10+ years of firm term remaining, potentially extending the lease through 2087.
- The area within a 5-mile radius of Walgreens is comprised of 19.2M square feet of retail, with an additional 75K SF currently under construction.
- $207,000 average household income within a 1-mile radius of Walgreens.
- The Property sits on a hard corner at the signalized intersection of Town Center Drive and Roe Ave, providing unmatched exposure and accessibility.
- The region has rapidly expanded its commercial presence to accommodate a population nearing 220,000 within 5 miles.
Executive Summary
Walgreens Kansas City | Absolute NNN Lease | $207K Avg HH Income | Dominant Retail Corridor
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,285 SF
Building Class
B
Year Built
2011
Price
$8,102,431
Price Per SF
$567.20
Cap Rate
6.50%
NOI
$526,658
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.35 AC
Zoning
SD
Moderately walkable
70/100
Exceptionally drivable
90/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | HP98200000-0009 | Improvements Assessment | $476,160 |
| Land Assessment | $340,840 | Total Assessment | $817,000 |
Property Taxes
Parcel Number
HP98200000-0009
Land Assessment
$340,840
Improvements Assessment
$476,160
Total Assessment
$817,000
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