QuikTrip - Mission, KS (Store #194)
4700 Lamar Avenue, Mission, KS, 66202, US
€3,924,000 | 419 sm
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a single-tenant QuikTrip located at 5108 NE Vivion Road, Kansas City, MO.
In June 2024, QuikTrip affirmed its long-term commitment to the Property by executing a new 10-year lease extension. The lease features rent escalations every five years, zero landlord expense responsibilities, and six, five-year renewal options.
Located 8.5 miles northeast of downtown Kansas City, the Property is positioned within a large 2.09-acre site at a prominent signalized intersection directly off Interstate 35 (60,000 VPD) with access to over 132,900 residents in a five-mile radius. The Property’s retail corridor performs exceptionally well with 2.9% vacancy and 22.0% rent growth since 2020.
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Attributes
Asking price
€7,089,000
Cap rate
5.65%
WALT
9.3 years
Occupancy
100%
Building area net
551 sm
Year built
2014
Land area gross
0.85 ha
Media
Investment highlights
- Purpose-built for QuikTrip in 1991 and redeveloped in 2014 for its new "Gen 3" store format
- Corporate guaranty from QuikTrip Corporation ("QT")
- Among the largest c-store operators with 1,085+ locations and $11B+ in revenue
- Absolute NNN lease with zero landlord expense responsibilities
- Recent new 10-year lease extension rent increases every five years
- Large 2.95-acre site on a hard corner & signalized intersection with 60,000+ VPD
- Strategically located near the I-35 & US-69 interchange
- Robust demographics with 132k population and 10.9% population growth since 2014
Contact brokers
QuikTrip - Kansas City, MO (Store #169) (0 Properties)
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Last updated
Jan 29, 2025
