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Verizon 4651 Bauer Farm Dr 2,400 SF Retail Building Lawrence, KS 66049 $2,315,993 CAD ($965.00 CAD/SF) 7.50% Cap Rate
Investment Highlights
- 3+ years remaining in the base term with three, 5-year extension options
- 2019 build-to-suit construction with 15-year roof warranty in place (~10 years remaining)
- Affluent submarket – $115,000 average household incomes within a 1-mile radius of the subject property
- 10% rental increases at start of each option providing a hedge against inflation
- Standalone visibility on W 6th Street – 23,000 VPD
- Home to University of Kansas – 30,700 students
Executive Summary
Long-term lease to the largest authorized Verizon retailer in the U.S. with 3+ years remaining in the base term and three, 5-year options to extend at 10% rental increases. Subject property is located in Lawrence – a densely populated college town home to the University of Kansas (30,770 students).
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,400 SF
Building Class
B
Year Built
2018
Price
$2,315,993 CAD
Price Per SF
$965.00 CAD
Cap Rate
7.50%
NOI
$173,658 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.79 AC
Parking
15 Spaces (6.25 Spaces per 1,000 SF Leased)
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 068-28-0-40-08-002.01-0 | Improvements Assessment | $312,237 CAD |
| Land Assessment | $202,680 CAD | Total Assessment | $514,918 CAD |
Property Taxes
Parcel Number
068-28-0-40-08-002.01-0
Land Assessment
$202,680 CAD
Improvements Assessment
$312,237 CAD
Total Assessment
$514,918 CAD
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Verizon | 4651 Bauer Farm Dr
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