Aspen Dental & Good Feet [ subject property ] INFILL KANSAS CITy MSA MEDICAL USE TENANTS 1680 NW Chipman Road, Lee s Summit, MO 64081
investment highlights THE SUBJECT PROPERTY IS THE HARD CORNER PAD ENTRANCE TO THE MOST DOMINANT RETAIL TRADE AREA IN LEE S SUMMIT, ANCHORED BY SUPER TARGET, LOWE S, BED BATH & BEYOND, AND A VARIETY OF OTHER RETAIL DESTINATIONS. PRICE: $2,990,571 CAP: 7.00% RENTABLE SF... 5,146 SF PRICE PER SF... $581.14 Lee s Summit, Missouri, is one of the fastest growing, most affluent sectors of the Kansas City MSA with a population of over 94,000 residents. The property enjoys traffic counts of over 120,000 VPD from the freeway, dominant visibility, and density of over 100,000 residents within a 5-mile radius. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ subject property rendering ] Listing Team Contact Info John Andreini jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team. Listed in conjunction with MO Licensed Broker: Jewett Ferguson of Ferguson Properties (816) 781-2520 ASPEN DENTAL & GOOD FEET 2
core characteristics Hard corner signalized pad entrance to 1M square foot retail trade area with freeway visibility traffic counts of over 120,000 vehicles per day. These desirable long-term fundmantals position the exisiting tenants for long-term success, with the ability to readily replace them in the future if needed. LEASE HIGHLIGHTS Aspen Dental - 10-year lease with three (3) five (5) year options. 10% rental increases every five years throughout the base term and options. Tenant pays taxes, CAMs, and insurance. Tenant is responsible for all non-structural components and HVAC. Landlord is responsible for roof and structure. Good Feet - 10-year lease with two (2) five (5) year options. 10% rental increases every five years throughout the base term and options. Tenant pays taxes, CAMs, and insurance. Tenant is responsible for all non-structural components and HVAC. Landlord is responsbile for roof and structure. 101,000+ Residents with AN average household income exceeding $89K within a 5-mile radius LOCATION HIGHLIGHTS Located within the SummitWoods Crossing power center. Tenants in the center include Target, Lowe s Home Improvement, Bed Bath & Beyond, T.J. Maxx, Petco, Panera, Verizon, Starbucks, and many others. Located at the corner of Highway 50 and NM Chipman Road. The property has outstanding exposure and visbility, boasting a combined traffic count of over 120,000 vehicles per day. The subject property is located less than one mile from the new University of Central Missouri Innovation Campus, which is scheduled to open in September 2017. Approximately 550 high school students from 14 school districts are expected to attend classes at the facility, along with about 3,000 university students. Situated in a highly dense residential market: over 41,000 people within a 3-mile radius and over 101,000 people within a 5-mile radius. The average household income exceeds $88,000 within a 3- mile radius. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ surrounding area retail ] ASPEN DENTAL & GOOD FEET 3
BENEFITTING FROM TRAFFIC COUNTS OF 120,464 VPD AT THE INTERSECTION OF US HIGHWAY 50 & NW CHIPMAN ROAD aerial NW Pryor Road 470 470 ard WW d Roa N SUMMIT FAIR SUMMITWOODS CROSSING 50 NW Pryor Road NW Chipman Road 120,464 DAILY NW Blue Parkway SUMMIT TECHNOLOGY CENTER 5,000 EMPLOYEES HOUSING (101,078 RESIDENTS WITHIN 5 MILES) 50 KANSAS CITY ASPEN DENTAL & GOOD FEET 4
income & expense PRICE $2,990,571 Price Per Square Foot: $581.14 Capitalization Rate: 7.00% Total Rentable Area (SF): 5,146 Lot Size (AC): 1.45 STABILIZED INCOME Per Square Foot Scheduled Rent $40.50 $209,340 LESS Per Square Foot Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $209,340 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ surrounding area retail ] ASPEN DENTAL & GOOD FEET 5
rent roll TENANT INFO LEASE TERMS RENT SUMMARY Tenant Name Sq. Ft. Term Current Rent Monthly Rent Yearly Rent Monthly Rent/FT Yearly Rent/FT Aspen Dental 3,500 12/22/2017 12/31/2022 $143,500 $11,958 $143,500 $3.42 $41.00 1/1/2023 12/31/2027 $13,154 $157,850 $3.76 $45.10 Option 1 1/1/2028 12/31/2032 $14,470 $173,635 $4.13 $49.61 Option 2 1/1/2033 12/31/2037 $15,916 $190,995 $4.55 $54.57 Option 3 1/1/2038 12/31/2042 $17,509 $210,105 $5.00 $60.03 Good Feet 1,646 11/22/2017 11/30/2022 $65,840 $5,487 $65,840 $3.33 $40.00 12/1/2022 11/30/2027 $6,035 $72,424 $3.67 $44.00 Option 1 12/1/2027 11/30/2032 $6,639 $79,666 $4.03 $48.40 Option 2 12/1/2032 11/30/2037 $7,303 $87,633 $4.44 $53.24 Totals: 5,146 $209,340 $18,597 $209,340 $3.37 $40.50 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. [ surrounding area retail ] ASPEN DENTAL & GOOD FEET 6 [ REPRESENTATIVE PHOTO ]
site plan SUMMITWOODS CROSSING SITE PLAN KEY PARCEL OUTLINE: RENTABLE AREA: 5,146 SF INGRESS/EGRESS: NW Chipman Road MONUMENT SIGN 120,464 DAILY 50 Off Ramp This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. ASPEN DENTAL & GOOD FEET 7
shopping center SUMMITWOODS CROSSING 470 50 R R O A D R Y O N W P NW CHIPMAN ROAD 120,464 DAILY ASPEN DENTAL & GOOD FEET 8 This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.
tenants ASPEN DENTAL Aspen Dental Management Inc. (ADMI) provides non-clinical support services to independently owned and operated dental practices in approximately 33 states. This includes finding the right location, payroll and benefits, equipment, accounting and marketing for their clients, leaving independent, licensed practitioners free to concentrate on patient care. Aspen Dental has more than 550 locations that offer patients a full range of denture and dental services, from preventive care to general dentistry restoration. In 2015 alone, Aspen Dental branded practices recorded nearly 3.7 million patient visits and welcomed nearly 785,000 new patients. GOOD FEET Good Feet began as a family-owned business in 1992, and has since expanded to encompass over 100 individually owned and operated stores throughout the world. Good Feet Stores sell a proprietary product line of arch supports, plus a selection of shoes and foot-related accessories. Over 300 styles, flexibilities, and sizes allows customers to be fit with the supports that meet their particular needs, foot type, shoes, lifestyle and overall comfort. [ subject property ] ASPEN DENTAL & GOOD FEET 9 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
demographics & map SUBJECT PROPERTY LOCATION POPULATION 1-Mile 3-Mile 5-Mile 2010 5,182 39,761 96,747 2017 5,247 41,774 101,078 2021 5,309 43,173 104,230 120,464 DAILY 2017 HOUSEHOLD INCOMES 1-Mile 3-Mile 5-Mile Average $69,355 $88,686 $89,185 Median $52,705 $65,882 $70,052 REGIONAL MAP TOP EMPLOYERS IN LEE S SUMMIT Lee s Summit R-7 Schools Central Missouri State University City of Lee s Summit Saint Luke s Health System Truman Medical Center - Lakewood KANSAS CITY 23 MIN 18 MILES LEE S SUMMIT This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. ASPEN DENTAL & GOOD FEET 10
Lee s summit, mo Lee s Summit is a city in Jackson County, Missouri, located sixteen miles southeast of downtown Kansas City. It is one of the fastest growing communities in the state, with a current population of 94,292. In 2010, Money magazine cited, Lee s Summit is among the Best Places to Live. The community is renowned for state and national award-winning-schools and community college, a thriving local economy, plentiful public and private investment, diverse housing choices, as well as comprehensive parks, lakes and recreation amenities. At 65 square miles the fifth largest in the state the city has room to grow with recently annexed properties in strategic highway served locations. Lee s Summit is served by two interstates (I-470 and I-70) and two federal highways (U.S. 50 and U. S. 71) making it accessible to regional and national markets. Lee s Summit is proud to host it s very own regional airport with a runway length of 5,500 ft. to be completed in fall of 2017. The Lee s Summit Municipal Airport is an asset to local businesses and patrons in Eastern Jackson County. In addition, the Kansas City International Airport (MCI) is 49 minutes away. There are 33 higher educational institutions located within the Kansas City metro area that are accessible to residents in Lee s Summit. For continuing education and associate s programs, the Metropolitan Community College Longview, is another award-winner with nearly 8,000 students enrolled per year. Undergraduate completion programs are available through the University of Central Missouri s Summit Center Campus. ABOUT JACKSON COUNTY Jackson County is home to Fortune 500 companies, two major professional sports franchises (the Royals of Major League Baseball and the Chiefs of the National Football League), the famous Plaza, and the third largest county parks system in the United States. While Kansas City may be well known for its jazz and barbecue, Jackson County also has some of the world s most renowned art museums and most innovative medical research centers. [ kansas city, mo ] ASPEN DENTAL & GOOD FEET 11 This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
[ surrounding area retail ] JOHN ANDREINI jandreini@capitalpacific.com (415) 274-2715 CA BRE# 01440360 Listed in conjunction with MO Licensed Broker: Jewett Ferguson of Ferguson Properties (816) 781-2520 Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team. CHRIS KOSTANECKI CHRIS PETERS DAVE LUCAS ZANDY SMITH JACK NAVARRA ZEB RIPPLE RICK SANNER JOE CACCAMO AARON SUSMAN [ Copyright 2017 Capital Pacific ]