Dick's Sporting Good 5900 SW Huntoon St, Topeka, KS Cap Rate 8% Topeka ( Kansas, US ) Built

$5,203,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 45,000 sq. ft.
  • Development Level: Built
  • Lot Size: 3.56 acres
  • Year Built: 2001

Description

Dick's Sporting Good 5900 SW Huntoon St, Topeka, KS Cap Rate 8%

Cap Rate: 8%
NOI: $416,250
Building Size: 45,000 sqft
Lot Area: 3.56 acres
Occupancy: 100%
Year Built: 2001

Price: $5,203,000 USD

DESCRIPTION
Faris Lee Investments is pleased to present the opportunity to acquire the leading sporting goods retailer Dick’s Sporting Goods in Topeka, Kansas. Dicks Sporting Goods had over $8.75 Billion in total Revenue for Fiscal 2020. Same-store sales increased 23.2% year-over-year in Q3 20, a record for the retailer and an improvement over the already strong 20.7% in Q2 20. Earnings are expected to see double-digit growth for the current fiscal year, up 58%, according to the Zacks Consensus Estimate.
The store is the only Dick’s location within 75 miles. Dick’s Sporting Goods has nearly six years left on their 10 Year extension term and has been a long term occupant, having been at this location for 21 years. There is a scheduled 5% rent increase in 2022 which will enhance the investors above market return with additional 3 (5-Year) options with rent increases, creating stability and a hedge against inflation for the investor.

The site is positioned along the main retail corridor in Topeka and located within a mile from dozens of the nation’s leading retailers including Walmart, Sam’s Club, Kohl’s, Best Buy, and Hobby Lobby, all of which drive significant traffic to the site. Dick’s Sporting Goods co-anchors this shopping center with major retailers Home Depot and Boot Barn and is in close proximity to West Ridge Mall (992,000 SF of retail).
The property boasts arguably the best location in the area relative to visibility, traffic, and access. Dick’s Sporting Goods sits at the signalized intersection of Huntoon Street and Wanamaker Road (Over 30,000 combined VPD), with convenient access to and from the on/off ramp of Interstate 470 (over 35,000 VPD), and easy access to Interstate 70 (over 60,000 VPD), one of the main arterials running through the Midwest. It is also located in a demographically strong trade area of over 166,000 people and 90,000 daytime employees within a 10-mile radius.

HIGHLIGHTS
• Strong National Tenant / Public Company (NYSE: DKS)
• High Growth 2020 Earnings
• Long Term Historical Occupancy with Recent 10 Year Extension
• High Yield Investment Opportunity & Well Below Replacement Cost
• NN Lease / Limited Landlord Responsibilities
• Fee Simple Overview
• Regional Location / Major Retail Hub
• Signalized Intersection with Convenient Interstate On/Off-Ramp Access

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

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Information is deemed to be correct but not guaranteed.