Sale Price: $4,824,444
Building Size: 3,648 SF
NOI: $217,100
Cap Rate: 4.50%

The Kase Group is pleased to present the opportunity to acquire a fee simple single tenant Kwik Kar in The Colony, Texas. The property consists of 3,648 square feet. Kwik Kar is subject to a new 20 year absolute NNN lease with zero landlord obligations. The lease calls for four, 5 year options to renew with annual increases at the greater of 2% or CPI, a complete hedge against inflation. This property is well situated on a major commercial thoroughfare and neighboring retailers include Nebraskas Furniture Mart, Target, TopGolf, Kroger, and more.

Years of planning work by city leaders have translated into a strong pace of economic and community development in The Colony. Nebraska Furniture Mart broke ground September 25, 2012, on a $1.5 billion, 433-acre complex along State Highway 121 between Plano Parkway and West Spring Creek Parkway. The Omaha-based furniture retailer is owned by Warren Buffett’s Berkshire Hathaway, Inc. The complex is anchored by a 1.86 million-square-foot Nebraska Furniture Mart building, and includes a 600,000-square-foot showroom. The footprint for Nebraska Furniture Mart of Texas, which opened in May 2015, is equivalent to 40 football fields and sits on approximately 90 acres. It is a part of the largest retail and entertainment destination of its kind in North America. Nebraska Furniture Mart is expected to attract over 8 million visitors and generate $600 million in sales annually.