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Views: 8 DOM: 4 Updated: 11.11.24 Posted: 11.11.24 Status: Active 11.11.24

Summary

Price $2,365,000
Built/Renov 1983
Tenant Kohl's (GL)
Cap Rate 6.74%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 90,500
Lease Start 12-01-1982
#Units 1,174
Price/SF $26.13
Expiration 01-31-2029
Tenant Type Big Box Retail
NOI $159,500
R. Term 4.2
Ownership Ground Lease
Rent/SF $1.76
Increases 10.0%/5/yrs
Pop 5Mi 43,275
Lot/AC 2.26
Options 4/5yrs/10%
AHHI 5Mi $66,620

Lease Highlights

  • Kohl’s has been operating in this location since 1982
  • The tenant has 4+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases in each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease (NYSE: KSS)

Location Description

Kohl's is strategically located on US Route 51, a major north- south artery. with access to 17,600 vehicles passing by daily. The property is an integral part of the Hickory Point Mall, one of the region's primary shopping destinations, boasting well-known national tenants such as Von Maur, Hobby Lobby, and Ross Dress for Less. According to data from Placer.ai, the mall attracts over 1 million...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Kohl's
  • Guarantor:Corp T and Rated
  • Company:Kohl's Corporation
  • # Units:1,174
  • Tenant S&P: BB
  • Moody’s: Ba2
  • Stock: NYSE: KSS

About Tenant

Kohl's Corporation (Kohl’s) (NYSE: KSS) is an American department store retail chain that sells moderately-priced private and national brand apparel, footwear, accessories, beauty, and home...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,814 17,810 39,085
2023 Total Population : 2,889 18,249 40,073
2023 Employed Civilian Pop : 1,334 7,814 16,122
2023 Total Businesses : 168 795 1,800
2023 Average Household Income : $ 129,808 $ 85,805 $ 66,947
2023 Total Consumer Spending : $ 138 M $ 605 M $ 1043 M
2023 Median Age : 49 44 42
2023 Total Households : 1,257 8,135 17,799
2023 Pop Age 25+: Bachelor's Degree : 656 2,547 4,347
2023 Average Home Value : $ 226,925 $ 165,734 $ 127,857
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Hickory Point Mall W Hickory Point Rd 2015 1,750 0.17 mi
Hickory Point Mall Hickory Point Dr 2004 10,500 0.19 mi
Hickory Point Dr Hickory Point Mall 2018 2,600 0.23 mi
Hickory Point Mall Lucile Ave 2004 10,500 0.23 mi
N Macarthur Rd Yuma Dr 2015 600 0.24 mi
West Hickory Point Road Hickory Point Mall 2018 2,400 0.24 mi
Barnett Ave Hickory Point Dr 2017 8,550 0.25 mi
W Hickory Point Rd Woodland Dr 2015 2,500 0.26 mi
Hickory Point Dr Valerian Dr 2018 1,350 0.26 mi
Hopi Dr N Macarthur Rd 2005 100 0.28 mi

Listing Broker

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