Carvana | 17yrs Remain Corp Abs NNN | 1700 W 29th St
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Carvana | 17yrs Remain Corp Abs NNN 1700 W 29th St
6,002 SF Retail Building Kansas City, MO 64108 £7,105,970 (£1,184/SF) 6.75% Net Initial Yield
Investment Highlights
- Approximately 17 Years Remaining | Options To Extend | Well Known & Established Tenant
- Interstate 95 (97,700 VPD) | Strong National/Credit Tenants | Walking Distance From Multiple Apartment Complexes
- Strong Demographics in 5-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Recent Stock Surge (NYSE: CVNA) | 500% Increase in the Past Year
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding Carvana investment property located in Kansas City, Missouri. The tenant, Carvana, LLC has approximately 17 years remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features increases equal to the lesser of (i) 9.608413% or (ii) 1.25x CPI throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,002 SF
Building Class
B
Year Built
2019
Price
£7,105,970
Price Per SF
£1,184
Net Initial Yield
6.75%
NOI
£479,648
Tenancy
Single
Number of Floors
1
Building FAR
0.11
Land Acres
1.22 AC
Opportunity Zone
Yes
Zoning
General Commercial
Parking
46 Spaces (7.66 Spaces per 1,000 SF Leased)
Frontage
162 ft on West 29th Street
Amenities
- Freeway Visibility
- Signage
PROPERTY TAXES
Parcel Number | 29-920-20-08-00-0-00-000 | Improvements Assessment | £1,214,267 |
Land Assessment | £166,295 | Total Assessment | £1,380,562 |
PROPERTY TAXES
Parcel Number
29-920-20-08-00-0-00-000
Land Assessment
£166,295
Improvements Assessment
£1,214,267
Total Assessment
£1,380,562
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Carvana | 17yrs Remain Corp Abs NNN | 1700 W 29th St
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