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Carvana | 17yrs Remain Corp Abs NNN 1700 W 29th St 6,002 SF Retail Building Kansas City, MO 64108 $12,645,640 CAD ($2,106.90 CAD/SF) 6.75% Cap Rate
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
$12,645,640 CAD
Price Per SF
$2,106.90 CAD
Cap Rate
6.75%
NOI
$853,572 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.22 AC
Opportunity Zone
Yes
Zoning
General Commercial
Parking
46 Spaces (7.66 Spaces per 1,000 SF Leased)
Frontage
162’ on West 29th Street
AMENITIES
- Freeway Visibility
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 29-920-20-08-00-0-00-000 | Improvements Assessment | $2,466,606 CAD |
| Land Assessment | $337,806 CAD | Total Assessment | $2,804,412 CAD |
PROPERTY TAXES
Parcel Number
29-920-20-08-00-0-00-000
Land Assessment
$337,806 CAD
Improvements Assessment
$2,466,606 CAD
Total Assessment
$2,804,412 CAD
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Carvana | 17yrs Remain Corp Abs NNN | 1700 W 29th St
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