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Lindenwood Business Park Bldg B 601 N Lindenwood Dr 18,750 SF 100% Leased Industrial Building Olathe, KS 66062 $3,515,503 ($187.49/SF)
Investment Highlights
- 100% leased to Rivian Automotive Inc (NASDAQ: RIVN) as a service and demonstration center
- 2019 construction with Class A office finish
- Sale Price: $3,515,503
- Infill Johnson County location with access via I-35/Santa Fe Road
- Lease Term: 3.5± years remain
Executive Summary
On behalf of Ownership, Colliers is pleased to present to qualified investors the opportunity to acquire 601 N. Lindenwood Drive, Olathe, Kansas
100% leased to Rivian Automotive Inc (NASDAQ: RIVN) as a service and demonstration center
Infill Johnson County location with access via I-35/Santa Fe Road
2019 construction with Class A office finish
Lease Term: 3.5± years remain
Continued Tenant Commitment: Tenant recently exercised first (of two) 3-year fixed-rate options to renew
Lease Type: NNN
Landlord Responsibilities: Structural repairs/replacement; HVAC replacement
Low Vacancy Submarket: 3.3% for competitive set
Substantial discount to replacement cost
Current NOI: $246,085.20
Annual Rent Increases: 2.0%
Sale Price: $3,515,503
Year 1 Cap Rate: 7.0%
100% leased to Rivian Automotive Inc (NASDAQ: RIVN) as a service and demonstration center
Infill Johnson County location with access via I-35/Santa Fe Road
2019 construction with Class A office finish
Lease Term: 3.5± years remain
Continued Tenant Commitment: Tenant recently exercised first (of two) 3-year fixed-rate options to renew
Lease Type: NNN
Landlord Responsibilities: Structural repairs/replacement; HVAC replacement
Low Vacancy Submarket: 3.3% for competitive set
Substantial discount to replacement cost
Current NOI: $246,085.20
Annual Rent Increases: 2.0%
Sale Price: $3,515,503
Year 1 Cap Rate: 7.0%
Property Facts
| Price | $3,515,503 | Rentable Building Area | 18,750 SF |
| Price Per SF | $187.49 | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 2020 |
| Property Type | Industrial | Parking Ratio | 10/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 24’ |
| Building Class | B | No. Drive In / Grade-Level Doors | 4 |
| Lot Size | 1.67 AC | ||
| Zoning | M2 | ||
| Price | $3,515,503 |
| Price Per SF | $187.49 |
| Sale Type | Investment NNN |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.67 AC |
| Rentable Building Area | 18,750 SF |
| No. Stories | 1 |
| Year Built | 2020 |
| Parking Ratio | 10/1,000 SF |
| Clear Ceiling Height | 24’ |
| No. Drive In / Grade-Level Doors | 4 |
| Zoning | M2 |
Amenities
- Storage Space
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | DP10130000-0002 | Improvements Assessment | $2,641,660 |
| Land Assessment | $348,340 | Total Assessment | $2,990,000 |
Property Taxes
Parcel Number
DP10130000-0002
Land Assessment
$348,340
Improvements Assessment
$2,641,660
Total Assessment
$2,990,000
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Lindenwood Business Park Bldg B | 601 N Lindenwood Dr
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