Strickland Brothers

2937 North Rock Road, Derby, KS 67037

$2,140,900

Cap Rate 6.75%

Views: 53 DOM: 149 Updated: 05.20.24 Posted: 01.04.24 Status: Active

Summary

Price $2,140,900	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 $1,209.55	Expiration 04-30-2038	Tenant Type Automotive
NOI $144,511	R. Term 13.11	Ownership Fee Simple
Rent/SF $81.64	Increases 10.0%/4/yrs	Pop 5Mi 57,651
Lot/AC 0.70	Options 3/5yrs/10%	AHHI 5Mi $89,258

Michael Watson

Northmarq

Contact

Lease Highlights

Brand-new 2023 construction
Strickland Brothers is operating under a new 15-year lease with 3 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the base term and option periods
Absolute NNN | Zero landlord responsibilities
The lease is backed by one of the largest Strickland Brothers franchisors, operating 14 units across the U.S.

Location Description

Strickland Brothers is strategically located at the four-way signalized intersection of Independence Ave and N Rock Rd, with direct visibility and a combined daily traffic count of 22,680 vehicles. The property is conveniently situated just two miles away from Eisenhower Memorial Highway (23,500+ VPD), which connects to Interstate 35 (I-35), Interstate 135 (I-135), Interstate 235 (I-235), and...

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Key Features

New construction
Signalized intersection
Build to suit
Hospital close
Top 100 MSA
Affluent suburb location
Brand new lease
Absolute NNN
Long 10+ yr lease
Personal guarantee

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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...

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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

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