Description

Property Location: 11900 Metcalf Avenue, Overland Park, KS 66213

Year 1 NOI: $2,600,000

5-Year NOI CAGR: 4.50%

Property Size: 140,485 SF

Occupancy: 100%

Outlot Development Opportunities: Three (3)

Year Built/Renovated: 2022/2023

WALT (Weighted Average Lease Term): 11 years

Buildings: Three (3)

Larry Glaze Licensee #: KS - BR00026081

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Attributes

CAGR

4.5%

True “Main & Main” Intersection in Midwest’s Top Retail Hub
Affluent, Dense Trade Area I Property Draws from
Leawood ($250K AHHI)
Prairie Village ($150K AHHI)
Overland Park ($150K AHHI)
Lenexa ($150K AHHI)
2-Mile Corridor Encompasses 2.5M SF of Retail Including Whole Foods, Apple, RH Restoration Hardware, Pottery Barn, and more
5% Market Asking Rent Growth YoY
Secure Income Stream Anchored by Whole Foods
Whole Foods (Moody’s A1) Accounts for 33% of Income and Has Term Through November 2043
Most Trafficked Whole Foods in Kansas
11 Year WALT
Value Creation Opportunities I 4.5% CAGR
REA and All Tenant Leases Allow for Additional Outparcel Development – No Waivers Needed
Single Tenant, Separately Parceled Whole Foods Provides Exit Flexibility
Recent Repositioning Through Leasing and Redevelopment
Brand New Construction Whole Foods
Recent Rightsizing of Burlington Space
New Leases with Old Navy & Ulta
New Leases Ensuring Latest Tenant Prototypes Results in Minimal Capital Expenditures