DSC_0091.JPG

14904 W 119th St, Olathe, KS 66062, USA

Sales Price: $3,771,492

Tenant: Red Lobster

Lease Type: NNN

Price Per SF: $630

Cap Rate: 6.10%

Selling Agent: Steve "Bogie" Bogoyevac

LONG-TERM NNN LEASE ACQUIRED AT A 6.10% CAP RATE

February 1, 2021

Just closed! Our 1031 exchange client has acquired a NNN-leased Red Lobster in Olathe, KS (Kansas City MSA) at a 6.10% cap rate for $3,771,492. The property is on an attractive long-term, 25-year NNN lease with 2% annual rent increases and is well-located in a retail corridor off of Highway 56 surrounded by national tenants such as Whole Foods, Target, Michaels, Pet Smart, Olive Garden, Bed Bath & Beyond, and more. We represented the buyer in this transaction. For more information, please contact Steve “Bogie” Bogoyevac at Steve.Bogoyevac@MarcusMillichap.com.

Los Angels Real Estate Borkers - The Bogie Group
880 Apollo Street, Suite 101, El Segundo, CA 90245
requests@bigrea.com
(424) 301-3800
  • Facebook
  • Instagram
  • YouTube