Kansas City, MO - Carvana

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding Carvana investment property located in Kansas City, Missouri. The tenant, Carvana, LLC has approximately 17 years remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features increases equal to the lesser of (i) 9.608413% or (ii) 1.25x CPI throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The asset is strategically located directly off Interstate 95 (97,700 VPD) and benefits from nearby access to Southwest Boulevard (21,100 VPD), making this an ideal, centralized location with easy commutes. Located in a dense retail corridor the site is within close proximity of multiple national/credit tenants including Costco, Home Depot and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the asset is ideally situated within walking distance from multiple apartment complexes including University Villa (108 units), West Bluff Townhomes (100 units), ArriveKC (373 units), and more, providing a direct residential consumer base from which to draw. Located less than 2 miles from downtown Kansas City, the 5-mile subject trade area is supported by more than 264,000 residents and 282,000 daytime employees who earn an average household income of more than $89,000.