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1400 W Amity Street - Amity Pointe - Price Chopper, Louisburg, KS

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1400 W Amity Street - Amity Pointe - Price Chopper

Louisburg Village Market
Louisburg, KS 66053-4088 - Miami County Submarket


Property Type:Retail Sub Type:- Status:Existing Year Built:2007
Building Size:38,516 SF Land Area:3.5 AC (152,460 SF)
For Sale Price:$4,995,000 Price/SF:$129.69
Cap Rate:6.17 %
Anchor Tenants:Price Chopper
Features:Center Temp Tenant


The Louisburg Price Chopper, situated just east of US Highway 69 and Kansas Highway 68 in Louisburg, Kansas, is a 38,516-square-foot grocery store on an absolute triple-net lease with more than 11 years remaining. Price Chopper is part of the Associated Wholesale Grocer (AWG) cooperative of grocers operating in 13 states with more than 1,000 store locations and $7.7 billion in revenue. The Louisburg Price Chopper is the only grocery store located within a three-mile radius.

The property is just 15 minutes south of Overland Park' s dynamic 151st Street commercial corridor and just seven minutes from the Johnson County line. Johnson County is the wealthiest county in the Kansas City MSA and the 38th wealthiest county in the United States. The success of Johnson County and the natural southern growth pattern is now fueling the success of Miami County as the fastest growing county in Kansas. Louisburg is in that path of growth along US Highway 69 and, with its proximity to Overland Park, has seen its population steadily increase.

Sale Notes:
ABSOLUTE NNN! STRONG SALES! We are pleased to offer a proven single tenant retail asset that is 100% leased to Price Chopper on an absolute NNN, fee simple (land and building) lease. Comprised of 38,516 square feet along West Amity street in Louisburg, KS, the lease has approx 11 years remaining on an original 20 year primary term that includes 4 -5 year option periods. The lease provides for fixed rental increases during the primary and option periods, providing inflation protection to a new owner. The next rental increases will take place on January 1, 2017, further providing an investor with a near term rent increase. Situated just east of the US Highway 69 and Kansas Highway 68, the property is just 15 minutes south of Overland Park' s dynamic 151st Street commercial corridor and just 7 minutes from the Johnson County line (Johnson County is the 38th wealthiest county in the United States).
STRONG DEMOS! Price Chopper is part of the Associated Wholesale Grocer (AWG) cooperative of grocers operating in 13 states with more than 1,000 stores locations and $7.7B in annual revenues. The Louisburg Price Chopper is the only grocery store located within a three-mile radius. The concept includes a pharmacy and drug component, service meat, seafood and poultry departments, salad bars, full-service bakery and a deli / home meal replacement department - typically, Price Choppers anchor major retail shopping developments. This is a unique opportunity to purchase a highly stable, passive single tenant retail investment on an absolute NNN lease (zero landlord obligations) with approximately 11 years remaining, fixed rental increases and strong site fundamentals that will continue to improve over the life of the lease.

Colliers International
Eric Carlton
(949) 724-5561

John Sharpe
(949) 724-5546

Jereme Snyder
(949) 474-0707

  
Colliers International
Drew M Quinn CCIM
(816) 556-1108

Mike Yeggy
(816) 531-5303




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