Strickland Brothers

2937 North Rock Road, Derby, KS 67037

$2,141,000

Cap Rate 6.75%

Views: 133 DOM: 210 Updated: 08.31.24 Posted: 04.25.24 Status: Active

Summary

Price $2,141,000	Built/Renov 2023	Tenant Strickland Brothers
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,770	Lease Start 05-01-2023	#Units 14
Price/SF $1,209.60	Expiration 04-30-2038	Tenant Type Automotive
NOI $144,511	R. Term 13.5	Ownership Fee Simple
Rent/SF $81.64	Increases 10.0%/5/yrs	Pop 5Mi 58,032
Lot/AC 0.70	Options 3/5yrs/10%	AHHI 5Mi $83,073

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Brand new 2023 construction
Strickland Brothers has 14 years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Strong personal $44M guarantee | 14 locations

Location Description

Strickland Brothers is strategically located at the signalized, hard corner intersection of North Rock Road and E Patriot Avenue, with access to a combined daily traffic count of 22,680 vehicles. The property holds a prime location, situated less than one mile from Derby Marketplace, which serves as the primary shopping destination for the surrounding area. With 4.6 million visits in the last...

...

Key Features

New construction
Signalized intersection
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Personal guarantee

...

Links

Strickland Brothers Wikipedia Derby, Kansas Zip Code 67037 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Franchisee
Company:Franchisee
# Units:14
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change and offers a list of...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,104	23,546	58,570
2023 Total Population :	3,055	23,441	58,032
2023 Employed Civilian Pop :	1,672	11,410	25,744
2023 Total Businesses :	45	621	1,222
2023 Average Household Income :	$ 95,768	$ 94,663	$ 83,073
2023 Total Consumer Spending :	$ 125 M	$ 760 M	$ 1587 M
2023 Median Age :	35	38	35
2023 Total Households :	1,483	9,320	22,013
2023 Pop Age 25+: Bachelor's Degree :	671	4,160	7,805
2023 Average Home Value :	$ 316,226	$ 263,403	$ 225,852

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South Rock Road	Wichita St	2022	18,523	0.32 mi
East 63rd Street South	N 2nd Ave	2022	14,545	0.47 mi
South Rock Road	E 71st St S	2022	26,105	0.52 mi
East 63rd Street South	E Independence Ave	2021	15,316	0.67 mi
N 2nd Ave		2000	15,000	0.69 mi
	Hickam St	2021	375	0.98 mi
	Hickam St	2021	375	0.98 mi
	Greens at the Derby Prkg Lot	2021	1,850	0.99 mi
	Greens at the Derby Prkg Lot	2021	1,850	0.99 mi
	S 99th St E	2022	5,511	0.99 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT