• 100% Occupied 4,265 Square Foot Strip Center in Kansas City, Kansas | KC-MSA Over 2.16m People
• Shadowed by Walmart Neighborhood Market | Over 1.3 Million Customers Per Year | Ranked in the Top 11% in the nation For Foot-Traffic per Placer.Ai
• Long Standing Strip Center and Major Recent Redevelopment Components | Included New Façade, Complete Interior Upgrades | New Roof and Parking Lot | Currently #1 Strip Center
• All Tenants Recently Renewed Their Leases with Rental Increases | Weighted Average Lease Term Remaining Over 4.1 Years
• Major Tenants Include: Cricket, MetroPCS, H&R Block, and El Centenario KC | Three Out of Four Tenants Have Annual Base Rental Increases | Increases Range from 3-5% YoY | Major Hedge Against Inflation
• Strong Historical Occupancy Since Renovation in 2014/2015 | Cricket, MetroPCS, H&R Block Joined Immediately After Renovations | El Centenario KC Joined in 2017 | Over 9.43 Years of Weighted Average Tenancy
• Staggered Lease Expirations with Lack of Option Terms | Cricket Leased into 5/2030 w/o Option Terms | Metro PCS Leased into 3/2030 with One, 5-Yr Option Term | El Centenario KC Leased into 9/2029 w/o Option Terms | H&R Block Leased into 4/30/2028 w One, 3-Year Option Term
• Rent Levels Exemplify High Need for Space in Region Due to Lack of Options and High Barriers to Entry
• Favorable NNN Lease Structures | Recapture of Tax, CAM, Insurance Expenses | Strong Portion of 3rd Party Management Fees Reimbursed by Tenants | Minimal Landlord Responsibilities and Ease of Management with Only 4 Tenants
• Prime Location Along Metropolitan Avenue | Immediately Off Hwy 69 | Shadowed by Two Major Grocers Servicing the Region | Walmart (Top 11%) and El Mercado | El Mercado Sees Over 533k Customers Per Year Per Placer.Ai
• Strategic Development Situated Away from Competing Retail Corridors | Caters Extremely Well to Neighborhoods | Zoning Restrictions and Lack of Developable Land Creates High Barriers to Entry for Future Competition
• Dense & Mature Demographics | Population Counts of 6,525 within 1-Mile, 72,883 within 3-Miles, and 222,953 within 5-Miles | Average Household Income in Excess of $68,539 within 3-Miles
• Kansas City MSA | 31st Largest MSA in the United States | Total Population Count Over 2.16m