Skechers

6740 West 119th Street, Overland Park, KS 66209

$1,776,500

Cap Rate 6.50%

Views: 89 DOM: 161 Updated: 08.28.24 Posted: 04.11.24 Status: Contract

Summary

Price $1,776,500	Built/Renov 1993	Tenant Skechers
Cap Rate 6.50%	Lease Type NN+	Guarantor Corp Traded
Size/SF 6,415	Lease Start 06-14-2014	#Units 5,168
Price/SF $276.93	Expiration 06-30-2029	Tenant Type General Retail
NOI $115,470	R. Term 4.9	Ownership Fee Simple
Rent/SF $18.00	Increases 18.0%/5/yrs	Pop 5Mi 236,963
Lot/AC 0.64	Options 2/5yrs/18%	AHHI 5Mi $125,518

Brad Teitelbaum

Bellagio Real Estate Partners

Contact

Lease Highlights

Skechers has 5+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features an 18% rental escalation at the start of the next option period, 10% at the remaining options
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Skechers is strategically located on W 119th Street, with access to 32,530 vehicles passing by daily. The property functions as an Outlot to Walmart Supercenter, offering a direct left-hand turn from the main corridor and featuring multiple points of access. Additionally, other prominent national retailers within the development include Best Buy and Kohl’s. Adjacent to the property lies 3.8M...

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Key Features

In location for years
Dense retail corridor
WalMart out-parcel
Big Box center
Top 100 MSA
Strong demographics
Long operation history
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

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Links

Skechers Wikipedia Skechers Wikipedia Overland Park, Kansas Zip Code 66209 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Skechers
Guarantor:Corp Traded
Company:Skechers USA, Inc.
# Units:5,168
Stock: NYSE: SKX

About Tenant

Skechers USA, Inc. (NYSE: SKX) is an American multinational footwear company and the third-largest athletic footwear brand in the world. The company designs develops, and markets a diverse range...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,761	92,098	254,121
2023 Total Population :	7,574	88,254	247,323
2023 Employed Civilian Pop :	4,244	49,781	136,554
2023 Total Businesses :	952	7,276	13,835
2023 Average Household Income :	$ 134,083	$ 144,775	$ 139,135
2023 Total Consumer Spending :	$ 412 M	$ 4732 M	$ 12276 M
2023 Median Age :	51	42	41
2023 Total Households :	3,593	38,438	103,737
2023 Pop Age 25+: Bachelor's Degree :	2,337	24,715	66,966
2023 Average Home Value :	$ 389,790	$ 467,728	$ 426,089

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Glenwood St	Access Rd	2013	9,600	0.06 mi
W 119th St	Glenwood St	2013	29,800	0.09 mi
W 119th St	Access Rd	2014	34,000	0.11 mi
Glenwood St	W 119th St	2013	9,900	0.16 mi
Metcalf Ave	W 119th St	2014	15,500	0.21 mi
Metcalf Ave	W 119th St	2014	23,300	0.21 mi
Glenwood St	Sprint Pkwy	2011	6,900	0.23 mi
		2011	5,900	0.24 mi
W 119th St	Metcalf	2016	25,300	0.24 mi
W 119th St	Lamar Ave	2015	27,000	0.26 mi

Listing Broker

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