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Views: 101 DOM: 181 Updated: 09.18.24 Posted: 06.24.24 Status: Active

Summary

Price $4,232,000
Built/Renov 2008
Tenant Kohl's (GL)
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 86,970
Lease Start 10-02-2008
#Units 1,174
Price/SF $48.66
Expiration 10-31-2028
Tenant Type Big Box Retail
NOI $317,422
R. Term 3.10
Ownership Ground Lease
Rent/SF $3.65
Increases 5.0%/4/yrs
Pop 5Mi 43,106
Lot/AC 7.20
Options 6/5yrs/5%
AHHI 5Mi $106,757

Lease Highlights

  • Kohls has been operating in this location since 2008
  • The tenant has 4+ years remaining on the current ground lease term with 6 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Kohl’s is strategically located on Town Center Avenue, with access to a robust daily traffic count of 59,400 vehicles. The property benefits from direct access to US Highway 98 (41,700 VPD) and US Highway 31 (23,700 VPD). Additionally, it fronts Interstate 10 (59,400 VPD) and is ideally situated as a co-anchor to Spanish Fort Town Center, a lifestyle center also anchored by Kohl’s. The site is...

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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
2029 Total Population : 2,732 24,399 44,898
2024 Total Population : 2,567 22,984 41,554
2024 Employed Civilian Pop : 1,146 11,840 21,360
2024 Total Businesses : 207 845 1,838
2024 Average Household Income : $ 103,638 $ 109,361 $ 112,416
2024 Total Consumer Spending : $ 91 M $ 885 M $ 1637 M
2024 Median Age : 44 42 41
2024 Total Households : 1,014 9,324 16,793
2024 Pop Age 25+: Bachelor's Degree : 570 4,622 7,938
2024 Average Home Value : $ 374,211 $ 351,733 $ 406,097
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Old Spanish Trail Patrician Dr W 2021 16,989 0.32 mi
Old Spanish Trl 2021 4,447 0.43 mi
Town Center Ave 2021 4,509 0.44 mi
Larry Dee Canyer Dr 2021 10,418 0.44 mi
Old Spanish Trl 2021 2,819 0.48 mi
Spanish Fort Boulevard Confederate Dr S 2021 22,665 0.50 mi
Spanish Fort Boulevard Spanish Fort Blvd 2019 23,705 0.50 mi
Spanish Fort Boulevard 2014 10,640 0.52 mi
US 98 Patrician Dr S 2021 11,891 0.53 mi
Old Spanish Trail Whispering Pines Rd 2020 41,716 0.57 mi

Listing Broker

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