15810 W 67th St
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15810 W 67th St
8,064 SF Retail Building Shawnee, KS 66217 £3,254,616 (£404/SF) 6.53% Net Initial Yield
Investment Highlights
- Absolute NNN corporate lease-ZERO Landlord Responsibilities
- Established location for tenant
- Big O Tires operate 470+ locations nationwide
- Attractive CPI rent increases every 5 years not to exceed 12%
- Property offers easy access to Shawnee Mission Parkway (±35,095 Daily Traffic Count)
Executive Summary
The subject property is a freestanding Big O Tires facility in Shawnee, Kansas, newly constructed in late 2006. This ±8,064 sq. ft. building is situated on a large ±1.47 acre parcel of land that provides abundant on-site customer parking of 32 spaces and is equipped with 10 service bays. The CAP rate increases to a 7.32% as of March, 2027, assuming a 12% CPI rent increase.
Shawnee is a suburb of Kansas City, Missouri with a population of approximately 69,198. Average Household Income within a 3-mile radius of the subject property is reported at $123,998. The property is located just a few miles from Downtown Shawnee and roughly 15 miles from downtown Kansas City. The subject property is strategically situated as a pad to a Home Depot and within walking distance to other national retailers such as Walmart Supercenter, Target, Starbucks, Kohl’s, ALDI, Ross Dress for Less, Chipotle and more.
The existing Big O Tires corporate lease ends February 28, 2032, with three-5 year lease options. The lease is absolute NNN, requiring no landlord responsibilities with CPI rent increases every 5 years not to exceed 12%.
The lease includes a corporate guarantee from TBC Corporation, whose parent company is Sumitomo Corporation. Other TBC Corporation subsidiaries include Midas, who have over 2,000 locations worldwide, and NTW, the second largest wholesale tire supplier in the United States.
Big O Tires is one of North America’s largest retail tire companies, with over 470 independently owned franchises in the Western and Midwestern regions of the U.S. After joining TBC Corporation in 1996, Big O Tires expanded its reach from aftermarket tire purchasing to offering expansive automotive maintenance services.
Shawnee is a suburb of Kansas City, Missouri with a population of approximately 69,198. Average Household Income within a 3-mile radius of the subject property is reported at $123,998. The property is located just a few miles from Downtown Shawnee and roughly 15 miles from downtown Kansas City. The subject property is strategically situated as a pad to a Home Depot and within walking distance to other national retailers such as Walmart Supercenter, Target, Starbucks, Kohl’s, ALDI, Ross Dress for Less, Chipotle and more.
The existing Big O Tires corporate lease ends February 28, 2032, with three-5 year lease options. The lease is absolute NNN, requiring no landlord responsibilities with CPI rent increases every 5 years not to exceed 12%.
The lease includes a corporate guarantee from TBC Corporation, whose parent company is Sumitomo Corporation. Other TBC Corporation subsidiaries include Midas, who have over 2,000 locations worldwide, and NTW, the second largest wholesale tire supplier in the United States.
Big O Tires is one of North America’s largest retail tire companies, with over 470 independently owned franchises in the Western and Midwestern regions of the U.S. After joining TBC Corporation in 1996, Big O Tires expanded its reach from aftermarket tire purchasing to offering expansive automotive maintenance services.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,064 SF
Building Class
B
Year Built
2007
Price
£3,254,616
Price Per SF
£404
Net Initial Yield
6.53%
NOI
£212,625
Tenancy
Single
Number of Floors
1
Building FAR
0.13
Lot Size
1.47 AC
Zoning
CH - Commercial Highway
Parking
29 Spaces (3.6 Spaces per 1,000 SF Leased)
Frontage
489 ft on 67th St
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | QP66460000-0002 | Improvements Assessment | £324,922 |
Land Assessment | £153,101 | Total Assessment | £478,023 |
PROPERTY TAXES
Parcel Number
QP66460000-0002
Land Assessment
£153,101
Improvements Assessment
£324,922
Total Assessment
£478,023
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15810 W 67th St
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