Academy Sports + Outdoors

14405 West 135th Street, Olathe, KS 66062

$9,600,000

Cap Rate 8.50%

Views: 167 DOM: 420 Updated: 10.10.24 Posted: 10.28.23 Status: Active

Summary

Price $9,600,000	Built/Renov 2013	Tenant Academy Sports + Outdoors
Cap Rate 8.50%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 71,927	Lease Start 09-27-2013	#Units 275
Price/SF $133.47	Expiration 01-31-2029	Tenant Type Sport/Fitness
NOI $816,371	R. Term 4.1	Ownership Fee Simple
Rent/SF $11.35	Increases 10.0%/5/yrs	Pop 5Mi 229,678
Lot/AC 6.75	Options 3/5yrs/5%	AHHI 5Mi $134,111

Lease Highlights

Academy Sports & Outdoors has 4+ years remaining on the current lease term with 3 (5-year) options
Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee by Academy Sports & Outdoors, Inc (NYSE: ASO)

Location Description

Academy Sports and Outdoors is positioned at the intersection of West 135th Street (24,250 VPD) and South Greenwood Street (4,134 VPD), where it is roughly 2 miles east of Interstate 35 (89,300 VPD) and 4 miles west of US-69 (62,042 VPD). The property co-anchors the 460,000+ SF Alden Center along with Walmart Supercenter and Hobby Lobby. The center is further occupied by Genesis Health Clubs,...

...

Key Features

Dense retail corridor
Near major nationals
Strategically located
Strong tenant synergy
Top 100 MSA
Strong demographics
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Over 100 Units backed

...

Links

Academy Sports + Outdoors Wikipedia Academy Sports + Outdoors Wikipedia Olathe, Kansas Zip Code 66062 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Academy Sports + Outdoors
Guarantor:Corp T and Rated
Company:Academy Sports & Outdoors, Inc
# Units:275
Tenant S&P: BB+
Stock: NYSE: ASO

About Tenant

Academy Sports + Outdoor, Inc. (NYSE: ASO) is a leading full-line sporting goods and outdoor recreation retailer, with its epicenter in the great Houston area. Academy’s product assortment...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	12,217	103,577	234,181
2023 Total Population :	12,076	102,089	229,678
2023 Employed Civilian Pop :	6,711	56,539	126,371
2023 Total Businesses :	304	3,052	9,694
2023 Average Household Income :	$ 148,482	$ 130,480	$ 134,111
2023 Total Consumer Spending :	$ 576 M	$ 4236 M	$ 9966 M
2023 Median Age :	36	36	37
2023 Total Households :	4,615	38,231	87,356
2023 Pop Age 25+: Bachelor's Degree :	3,306	24,359	55,288
2023 Average Home Value :	$ 386,165	$ 362,324	$ 381,728

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Greenwood St	W 138th St	2008	3,190	0.06 mi
W 138th St	S Greenwood St	2008	4,185	0.07 mi
W 138th St	Hagan	2008	6,390	0.11 mi
W 138th St	S Greenwood St	2008	5,075	0.12 mi
S Greenwood St	W 135th St	2015	4,134	0.13 mi
W 135th St	S Greenwood St	2015	24,250	0.17 mi
Alden St	W 138th St	2008	4,690	0.18 mi
W 138th St	Greenwood St	2008	4,598	0.19 mi
W 135th St	S Greenwood St	2015	23,157	0.22 mi
S Greenwood St	W 134th Pl	2015	4,463	0.23 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
16848 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
16998 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

...

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

...

Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
17000 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

...

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