Wichita, KS - Retail Portfolio (4)

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple land and building ownership interest in a NNN leased four tenant retail investment portfolio located in Wichita, Kansas. The tenants Advance Auto Parts, Action Rent to Own, and Dollar General have a weighted average term remaining of approximately 5 years. Advance Auto Parts tenants has additional options to extend, demonstrating their long term commitment to the site. The leases are structured as NNN with limited landlord responsibilities, making this an ideal low management investment opportunity for a passive investor.

The retail buildings are strategically located fronting E Pawnee St, one of the area’s primary commuter and retail thoroughfares, averaging approximately 22,300 vehicles passing daily. The properties are located at the signalized hard corner intersection of S. Broadway and E Pawnee St, which together average over 37,600 vehicles per day. The buildings are outparcels to Pawnee Place, which includes tenants such as a Walmart Supercenter, GameStop, and more. Additionally, the adjacent Walmart Supercenter ranks in the 96th percentile in the state and 89th percentile nationwide for all Walmart Supercenters. Nearby shopping centers include Westway Marketplace, a Harbor Freight and Super Mercado anchored center with other tenants including Ace Hardware, AutoZone Auto Parts, Starbucks, and many others. The property is located within a primary retail corridor surrounded by additional national and credit tenants, including a Walmart Neighborhood Market, ALDI, Planet Fitness, QuikTrip, Walgreens, and more. The property is in close proximity to Wichita South High School (1,660+ students) and Ascension Via Christi St. Joseph, a 255-bed facility, both of which provide strong consumer bases from which the asset can draw. This represents a great opportunity to own strong commercial real estate in the Wichita metropolitan area. The 5-mile trade area is supported by a population of more than 187,600 residents and 134,500 employees. Residents in this area have an average household income of $64,292.

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Listing ID: a28TP000002WE1tYAG