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Views: 111 Updated: 02.26.24 Posted: 10.04.23 Status: Inactive

Summary

Price $1,609,920
Built/Renov 1915/1999
Tenant Urban Outfitters
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp Traded
Size/SF 8,600
Lease Start 11-01-2022
#Units 708
Price/SF $187.20
Expiration 10-31-2027
Tenant Type General Retail
NOI $120,744
R. Term 3.1
Ownership Fee Simple
Rent/SF $14.04
Increases 8.3%/4/yrs
Pop 5Mi 95,995
Lot/AC 0.13
Options 2/5yrs/8.3%
AHHI 5Mi $82,135

Lease Highlights

  • 24+ year operating history | Kansas’ only Urban Outfitters
  • Tenant has 4 years remaining on their primary lease with 2 (5-year) options to extend
  • Lease features 8.3% rental increases in option 1 and 6.5% rental increases in option 2
  • Corporate guaranteed lease

Location Description

Urban Outfitters is situated along Massachusetts Street, which sees a daily traffic count of 21,800 vehicles. This location offers excellent visibility and accessibility, as Massachusetts Street is widely recognized as one of the most beautiful main streets in America. Additionally, it benefits from its proximity to Interstate 70, being just 2 miles south of the primary route connecting Topeka...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Urban Outfitters, Inc. provides lifestyle-oriented general merchandise and consumer products and services. Urban Outfitters brand targets young adults with a merchandise mix of women's and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 16,016 66,786 97,001
2023 Total Population : 15,896 66,164 95,995
2023 Employed Civilian Pop : 9,041 37,166 53,230
2023 Total Businesses : 1,101 2,971 3,847
2023 Average Household Income : $ 62,536 $ 70,085 $ 82,135
2023 Total Consumer Spending : $ 350 M $ 1681 M $ 2887 M
2023 Median Age : 24 28 30
2023 Total Households : 6,340 27,329 40,274
2023 Pop Age 25+: Bachelor's Degree : 2,555 11,433 17,559
2023 Average Home Value : $ 304,147 $ 251,064 $ 292,935
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Vermont St 2021 3,675 0.12 mi
Vermont St 2021 3,675 0.12 mi
West 9th Street W 9th St 2021 14,377 0.18 mi
Vermont Street Kentucky St 2021 3,579 0.18 mi
Massachusetts Street E 6th St 2021 7,779 0.23 mi
Connecticut Street Massachusetts St 2021 7,334 0.26 mi
Kentucky Street W 8th St 2021 8,075 0.27 mi
New Hampshire Street E 9th St 2021 9,838 0.27 mi
Tennessee Street W 12th St 2021 6,166 0.30 mi
Connecticut Street E 9th St 2018 7,475 0.30 mi

Listing Broker

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