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Safelite AutoGlass
10306 Shawnee Mission Parkway, Shawnee, Kansas
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Investment Highlights
- Current NOI: $72,000
- Corporate Guaranty
- Price: $1,067,000
- Lease Expiration: 12/31/2024
- Escalations: 10% every 5 years
- Options: 1, 5 year
- Cap Rate: 6.75%
- Landlord Responsibilities: NN (Roof/Structure)
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The property is located in the middle of one of most vibrant retail and automotive hubs, in one of the best parts of Kansas City. Shawnee is home to major retailers such as IKEA, Hobby Lobby, Home Depot and many others large and small. The immediate area is also home to numerous large car dealerships which help feed Safelite's business, including Shawnee-Mission Ford, Aristocrat Motors (Mercedez, Porsche, Jaguar, Land Rover), Hendrick Toyota/Lexus and Infiniti of Kansas City. Major employers in Shawnee include Fedex, Bayer, EC Manufacturing, IBT Incorporated and others.
The original building was built in 1964 and had been operating as Calvert's Express Auto Service and Tire since 2008. In 2016 Calvert's vacated the building and it was retenanted by Safelite Autoglass. Safelite is renovating the building to fit their use but opened for business in January 2017. Renovations are currently ongoing. This site is a relocation site as Safelite operated just down the street for nearly 30 years.
This Safelite location is backed by a corporate Safelite guaranty.
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