Brand New, 15-Year Lease | Recession Resistant Investment

Office for Sale
Catylist Listing ID: 30600428
Property Subtypes: Governmental
Building Size (RSF): 7,480 SF
Gross Land Area: 37,026 SF
Sale Price: $1,550,000
Unit Price: $207.22 PSF
Property Use Type: Investment
Class of Space: Class A
Sale Terms: Other
Cap Rate: 6.05%
Last Updated: 11/30/2020

Overview / Comments

- Tenant: Kansas Department of Children and Families
- NOI: $95,753
- Annual Gross Rent: $106,590
- Tenant Responsibilities: Utilities, janitorial and trash removal
- Landlord Responsibilities: Roof, structure, interior maintenance and repairs, grounds maintenance, landscaping, parking areas, entrances and sidewalks, snow removal and pest control
- Lease Commencement: New 15-Year Lease Commenced in 2019
- Options: (1) 5-year option to renew at same rate
- North of Lodge Street on Morrill Avenue
- LOW RENT PER SQUARE FOOT
- STABLE, CREDIT TENANT
- RECESSION RESISTANT, E-COMMERCE RESISTANT TENANT
- STATE OF KANSAS CREDIT: Aa2
- LOCATED 2 HOURS SOUTH OF OMAHA, NEBRASKA
- LOCATED 90 MINUTES NORTHWEST OF KANSAS CITY, KANSA

Additional Details

Nearest MSA: Kansas City
County: Brown
Tax ID/APN: 0070782800000008000
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2019
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 614 3,602 3,602
Median Age: 37.18 42.66 42.66
Households: 249 1,546 1,546
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