Wichita, KS - Topgolf

2976 N Greenwich Road, Wichita, KS

$21,183,000

Price

6%

Cap Rate

$1,271,000

NOI

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Street
Map
Overview
Cap Rate
6%
NOI
$1,271,000
Description

• The tenant, Topgolf, has 19+ years remaining on their lease with a corporate guaranty by Topgolf International, Inc.
• In October 2020, Topgolf was acquired by Callaway Golf Co. (NYSE: ELY) in an all-stock deal that values Topgolf net worth of $3.63 Billion as of July 19, 2023
• There are 4 (5-year) in place options to extend the lease, generating a potential 40-year occupancy
• The lease boasts 10% rental increases every 5 years, including each
option to extend
• New prototype concept that includes 9-hole mini golf course
• Topgolf Wichita is the city’s premier entertainment destination
• 52 climate-controlled hitting bays provide year-round comfort
• The complex includes a 22-foot video complimented by an
additional 100+ HDTVs
• The Topgolf Wichita restaurant is accommodated by an accomplished Executive Chef and supported by an experienced team that uses high-quality ingredients to deliver a fresh twist on familiar favorites

• Topgolf is strategically located at the signalized, hard corner intersection of E 29th Street N and Greenwich Rd
• The immediate trade area is supported by surrounding retailers such as Target, Hobby Lobby, Marshalls, Academy Sports & Outdoors, and more
• Ideally positioned 1 block North of the Greenwich Place Shopping Center, which features 150,000+ SF of retail space anchored by Michaels, ULTA, World Market, and more
• The newly built Stoney Point Townhome development (65+ units) is directly next door, providing a direct consumer base from which to draw
• According to the Kansas Commerce website, the city is experiencing new development such as Integra Technologies’ $1.8B Wichita Semiconductor Plant which will create nearly 2,000 new jobs
• More than 98,000 residents and 61,000 employees support the trade area
• $133,070 average household income within a 1-mile radius
• 14 miles from Downtown Wichita, providing residents with a short and convenient commute to the site

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Listing ID: a288X000007VmjZQAS
Location
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