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Farm Bureau Insurance Regional Claims Center 7421 E 21st St 13,367 SF Office Building Wichita, KS 67206 $2,522,328 ($188.70/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- New Long-Term Absolute Net Lease
- Mission Critical Regional Claims Center | Essential office location providing insurance claim services to customers throughout the region
- There are +/- 10.5 years of base lease-term remaining with four (4), five (5) year options with 10% increases every 5 years
- Credit Rated, Ecommerce & Recession Proof Tenant | Farm Bureau is rated A (Excellent) by AM Best credit rating agency
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Farm Bureau Regional Claims Center located at 7421 E 21st St N, Wichita, KS, 67206. The site consists of roughly 13,367 rentable square feet of building space on an estimated 1.07-acre parcel of land. This Farm Bureau Regional Claims Center is subject to a 15-year Triple Net (NNN) lease, which commenced 2/5/2021. The current annual rent is $176,563 and has scheduled increases of 10.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
13,367 SF
Building Class
B
Year Built
1991
Price
$2,522,328
Price Per SF
$188.70
Cap Rate
7%
NOI
$176,563
Tenancy
Single
Building Height
1 Story
Typical Floor Size
13,367 SF
Building FAR
0.29
Lot Size
1.07 AC
Zoning
GO - General office.
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PROPERTY TAXES
| Parcel Number | 113-07-0-12-01-001.01 | Improvements Assessment | $228,125 |
| Land Assessment | $58,125 | Total Assessment | $286,250 |
PROPERTY TAXES
Parcel Number
113-07-0-12-01-001.01
Land Assessment
$58,125
Improvements Assessment
$228,125
Total Assessment
$286,250
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Farm Bureau Insurance Regional Claims Center | 7421 E 21st St
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