LA QUINTA INN AND SUITES - ABSOLUTE NNN | $14,874,495 10610 MARTY STREET, OVERLAND PARK, KANSAS - Retail Investment Group, LLC.
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
LA QUINTA INN AND SUITES ABSOLUTE NNN | $14,874,495
10610 MARTY STREET, OVERLAND PARK, KANSAS
La Quinta Inn and Suites
CONTENTS
Executive Summary
Executive Summary 5
Hotel Summary 6
Location Map 7
Demographics
Demographics 9
Demographic Charts 10
Exclusively Marketed by:
Matt Spiller Mark McLoone Steven Davis
Associate Senior Associate Managing Member
480-429-4580 480-429-4580 480-429-4580
License # 680372000 License # 673250000 License # 101032000
matt@retail1031.com mark@retail1031.com steven@retail1031.com
8255 East Raintree Drive Suite 100
Scottsdale, AZ 85260
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors,
omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future
performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
La Quinta Inn and Suites Confidentiality and Disclaimer | 03
CONFIDENTIALITY AND DISCLAIMER:
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be
reviewed only by the party receiving it from Retail Investment Group and it should not be made available to any other person or
entity without the written consent of Retail Investment Group.
By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information
in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering
memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to Retail
Investment Group. This offering memorandum has been prepared to provide summary, unverified financial and physical
information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. Retail Investment Group has not
made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property,
the future projected financial performance of the property, the size and square footage of the property and improvements, the
presence of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the
physical condition of the improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or
intentions to continue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail
Investment Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group
conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information
set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONTACT RETAIL INVESTMENT GROUP FOR MORE DETAILS.
Copyright © 2018 CREOP, LLC. All Rights Reserved.
La Quinta Inn and Suites | Executive Summary
................................................
Offering Summary
Location Summary
Executive Summary
LA QUINTA INN AND SUITES
La Quinta Inn and Suites Executive Summary | 05
OFFERING SUMMARY
New 20 Year Absolute NNN Lease
ADDRESS 10610 Marty Street Overland Park Commences at COE
KS 66212
COUNTY Johnson 8.5% Increases Every 5 Years
LEASE TYPE Absolute NNN 4 x 5 Year Options
CAP RATE 8.25%
Newly 2018 Remodeled Location
BUILDING SQUARE FEET ±85,000
Tenant Brings 30+ Years Operating Experience
LAND SQUARE FEET/ ACRES ±152,460 /± 3.50
TOTAL ROOMS 143 1 Mile from Overland Park Convention Center which Hosts
and Average of 330 Events per Year
YEAR BUILT 1985
YEAR RENOVATED 2018/Current Heated Outdoor Pool and 24 Hour Fitness Center
LESSEE OK, LLC High 5 - Mile Average Household Income of $106,000+
OWNERSHIP TYPE Fee Simple
PARCEL NUMBER NP45800008-0001
ZONING CP-O, Overland Park To view a video overview of this property click here
https://www.youtube.com/watch?v=IYw69-Ar_Gc
# OF STORIES 3
Offered for sale is a La Quinta Inn and Suites in Overland Park,
# OF PARKING SPACES 85 Kansas which is located only ±13 miles from Kansas City. This La
POOL Yes; Heated Outdoor Quinta is 3 Floors and holds 143 Keys, the building is ±85,000
square feet on ±3.5 acres.
FITNESS CENTER Yes; 24 Hour
Nearby retailers include Hooter's, Carrabba's Italian Grill, Chuck
E. Cheese, Hardee's, Denny's, El Fogon Overland Park, Fox and
FINANCIAL SUMMARY Hound and Krispy Kreme.
OFFERING PRICE $14,874,495 Nearby attractions include Topgolf, Overland Park Convention
Center, Kansas City Zoo along with numerous golf courses
PRICE PER KEY $104,017 including St. Andrews Golf Club and the Sykes Lady Golf Club
PRICE PSF $174.99 which combined host more than 130,000 rounds of golf a year.
OCCUPANCY 100% Overland Park is a city located in the suburbs of Kansas City,
Missouri. Overland Park is the second most populous city in
NOI (CURRENT) $1,227,143 Kansas.
CAP RATE (CURRENT) 8.25%
The cities five largest industries include health care, retail trade,
professional and technical services, finance and insurance, and
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE information technology. Companies with headquarters in the
city include Sprint Corporation which is the city's largest
2017 Population 7,857 92,404 260,446 employer with 6,00+ employees, YRC Worldwide, Black & Veatch,
and Netsmart Technologies , a health information technology
2017 Median HH Income $63,248 $74,118 $75,648 company with 1,200+ employees, which relocated it's
2017 Average HH Income $84,511 $103,366 $106,437 headquarters there in 2011.
La Quinta Inn and Suites Location Summary | 06
Wyndham Worldwide has recently announced
their acquisition of the La Quinta's Franchise.
Wyndham's Hotel & Resorts is the largest hotel
franchise in the world and has won numerous
awards and recognition. The company offers
brands in lodging franchising, vacation
ownership, vacation rentals, and vacation
exchange. The hotel's brands compete in
brand markets ranging from economy to
upscale. Wyndham Hotels & Resorts currently
has over 9,000 hotels in 75 different countries
with 15 different hotel brands.
La Quinta Holdings offers La Quinta Inn & Suites,
La Quinta Inn, and LQ Hotels at over 870 locations
in U.S, Mexico, and Canada.
Each hotel offers free Bright Side Breakfast, free
high-speed Internet and their exclusive Bright
Morning Bed with a pillowtop mattress. They offer
business centers, flat panel HDTV's, in-room work
areas along with swimming pools at most of their
locations.
La Quinta Inn and Suites Location Map | 07
La Quinta Inn and Suites | Demographics
................................................
Demographics
Demographic Charts
Demographic Details
LA QUINTA INN AND SUITES
La Quinta Inn and Suites Demographics | 09
POPULATION 1 MILE 3 MILE 5 MILE HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Population 7,947 88,138 228,779 2000 Total Housing 3,682 38,751 99,919
2010 Population 7,548 86,891 239,202 2010 Total Households 3,642 38,532 103,889
2017 Population 7,857 92,404 260,446 2017 Total Households 3,788 41,063 112,540
2022 Population 8,129 97,827 276,056 2022 Total Households 3,917 43,476 118,993
2017 African American 418 4,687 15,990 2017 Average Household Size 2.04 2.23 2.29
2017 American Indian 35 277 855 2000 Owner Occupied Housing 2,048 25,040 64,244
2017 Asian 368 5,365 14,839 2000 Renter Occupied Housing 1,515 12,038 31,113
2017 Hispanic 738 6,167 18,594 2017 Owner Occupied Housing 2,053 24,879 66,436
2017 White 6,459 77,341 214,512 2017 Renter Occupied Housing 1,734 16,183 46,103
2017 Other Race 325 2,089 6,701 2017 Vacant Housing 275 2,503 6,575
2017 Multiracial 250 2,593 7,400 2017 Total Housing 4,063 43,566 119,115
2017-2022: Population: Growth Rate 3.40 % 5.75 % 5.85 % 2022 Owner Occupied Housing 2,185 26,263 70,195
2022 Renter Occupied Housing 1,732 17,213 48,798
2017 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
2022 Vacant Housing 286 2,608 6,714
less than $15,000 280 2,146 6,164
2022 Total Housing 4,203 46,084 125,707
$15,000-$24,999 287 2,415 7,058
2017-2022: Households: Growth Rate 3.35 % 5.75 % 5.60 %
$25,000-$34,999 413 3,447 8,577
$35,000-$49,999 459 5,084 13,860
$50,000-$74,999 728 7,629 20,120
$75,000-$99,999 454 5,371 14,292
$100,000-$149,999 737 7,630 20,223
$150,000-$199,999 244 3,325 9,908
$200,000 or greater 185 4,015 12,337
Median HH Income $63,248 $74,118 $75,648
Average HH Income $84,511 $103,366 $106,437
Source: esri
La Quinta Inn and Suites Demographic Charts | 1 0
2017 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2017 Population by Race
1 Mile Radius 3 Mile Radius 5 Mile RadiusExclusively Marketed by:
Matt Spiller Mark McLoone Steven Davis
Associate Senior Associate Managing Member
480-429-4580 480-429-4580 480-429-4580
License # 680372000 License # 673250000 License # 101032000
matt@retail1031.com mark@retail1031.com steven@retail1031.com
8255 East Raintree Drive Suite 100, Scottsdale, AZ 85260You can also read
