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Grene Vision Group 1408 W Central Ave 3,403 SF Office Building El Dorado, KS 67042 $1,385,820 CAD ($407.23 CAD/SF) 9.25% Cap Rate
Investment Highlights
- Triple Net Lease Structure Tenant financially responsible for all operating expenses and reimburses Landlord for Management Fee
- Three Years Remaining on Five Year Lease Extension Executed May 2024 Two Five Year Renewal Options Remaining
- Frontage on Highly Trafficked West Central Ave. Located in between I-35 and Downtown El Dorado. Average Daily Traffic count over 15,000 VPD.
- Growing Network with Strong Regional Presence Grene Vision Group has 18 offices across the Greater Wichita area
- Attractive Annual Rental Increases Rent increases based on CPI adjustment with a cap of 5%
- Purpose Built Facility – First Generation User Purpose built for Grene Vision Group and has continuously operated since 2006
Executive Summary
Triple Net Lease Structure, Tenant financially responsible for all operating expenses and reimburses Landlord for Management Fee Growing Network with Strong Regional Presence. Grene Vision Group has 18 offices across the Greater Wichita area and has served the community for over 100 years.
Three Years Remaining on Five Year Lease
Extension Executed May 2024 Two Five Year Renewal Options Remaining
Attractive Annual Rental Increases
Rent increases based on CPI adjustment with a cap of 5%
Frontage on Highly Trafficked West Central Ave.
Located in between I-35 and Downtown El Dorado.
Average Daily Traffic count over 15,000 VPD.
Purpose Built Facility – First Generation User
Purpose built for Grene Vision Group and has continuously operated since 2006
Proximity to Major Hospital
Less than one mile from Susan B Allen Hospital Established in 1931 and includes wide range of specialty care along with acute and emergency care.
Three Years Remaining on Five Year Lease
Extension Executed May 2024 Two Five Year Renewal Options Remaining
Attractive Annual Rental Increases
Rent increases based on CPI adjustment with a cap of 5%
Frontage on Highly Trafficked West Central Ave.
Located in between I-35 and Downtown El Dorado.
Average Daily Traffic count over 15,000 VPD.
Purpose Built Facility – First Generation User
Purpose built for Grene Vision Group and has continuously operated since 2006
Proximity to Major Hospital
Less than one mile from Susan B Allen Hospital Established in 1931 and includes wide range of specialty care along with acute and emergency care.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
3,403 SF
Building Class
B
Year Built
2006
Price
$1,385,820 CAD
Price Per SF
$407.23 CAD
Cap Rate
9.25%
NOI
$128,247 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,403 SF
Building FAR
0.20
Lot Size
0.39 AC
Zoning
HLDP
Parking
23 Spaces (6.76 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 212-03-0-10-34-010-00-0 | Improvements Assessment | $170,354 CAD |
| Land Assessment | $24,517 CAD | Total Assessment | $194,871 CAD |
Property Taxes
Parcel Number
212-03-0-10-34-010-00-0
Land Assessment
$24,517 CAD
Improvements Assessment
$170,354 CAD
Total Assessment
$194,871 CAD
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Grene Vision Group | 1408 W Central Ave
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