Kum & Go #449 - Neosho, MO - CB Richard Ellis/Hubbell Commercial
Kum & Go #449 - Neosho, MO - CB Richard Ellis/Hubbell Commercial
Kum & Go #449 - Neosho, MO - CB Richard Ellis/Hubbell Commercial
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Representative Photo<br />
Exclusively Presented By:<br />
Tyler Dingel, CCIM<br />
T: 515-221-6662<br />
Tyler.Dingel@cbre.com<br />
<strong>CB</strong>RE/<strong>Hubbell</strong> <strong>Commercial</strong><br />
West Des Moines, IA<br />
THE OFFERING:<br />
SINGLE-TENANT INVESTMENT OPPORTUNITY<br />
<strong>Kum</strong> & <strong>Go</strong> <strong>#449</strong> - <strong>Neosho</strong>, <strong>MO</strong><br />
The <strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong> Net Leased Properties Group is pleased to offer for sale a 3,391 square foot freestanding retail<br />
property on 45,308 square feet of land which is net leased to <strong>Kum</strong> & <strong>Go</strong> for twenty years. The property is offered at<br />
a price of $2,300,000. Based on this price the cap rate is 7.75%.<br />
INVESTMENT HIGHLIGHTS<br />
HIGHLIGHTS:<br />
Todd Millang, g, CCIM 15 year depreciation schedule<br />
T: 515-221-6677<br />
Todd.millang@cbre.com<br />
<strong>CB</strong>RE/ <strong>Hubbell</strong> <strong>Commercial</strong><br />
West Des Moines, IA<br />
Doug McFadden CCIM<br />
T: 816-968-5829<br />
doug.mcfadden@cbre.com<br />
<strong>CB</strong>RE-Kansas City<br />
Rachel Katz<br />
T: 818-907-4675<br />
Rachel.Katz@cbre.com<br />
<strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong>, Inc.<br />
•Up to $700,000 depreciation expense in 2009 to shelter passive income as part of American Recovery and<br />
Reinvestment Act of 2009.<br />
•Recession resistant business with record sales and profits in 2008.<br />
•15 year depreciation schedule<br />
Strong location with great visibility<br />
Excellent credit tenant ranked 22nd largest convenience store operator in the nation<br />
2009 marks <strong>Kum</strong> & <strong>Go</strong>’s 50th year of business<br />
7.5% rent increases effective every 5 years<br />
New building to be completed in July 2009<br />
Corporate Guarantee and Corporate Environmental Indemnification<br />
INVESTMENT SUMMARY:<br />
Price: $2,300,000<br />
Capp Rate: 7.75%<br />
Size: 3,391 (Bldg) / 45,308 (Lot)<br />
Lease Expiration: 20 year lease<br />
Lease Structure: Absolute Net<br />
Annual Rent: $178,250
TENANT HIGHLIGHTS:<br />
Revenues: $2 billion<br />
Rank: 22 nd largest convenience store in the nation<br />
Rank: 306 th largest private company as ranked by Forbes.<br />
THE TENANT:<br />
www.kumandgo.com<br />
Founded in 1959, <strong>Kum</strong> & <strong>Go</strong> is a regional operator of convenience store and gas<br />
station operations headquartered in West Des Moines, IA. The company currently<br />
operates 450 stores in 12 states (Arkansas, Colorado, Iowa, Minnesota, Montana,<br />
<strong>Kum</strong> & <strong>Go</strong> <strong>#449</strong> – <strong>Neosho</strong>, <strong>MO</strong><br />
THE PROPERTY:<br />
Store Number: <strong>#449</strong><br />
Address: 2495 Kodiak Rd.,<br />
<strong>Neosho</strong>, <strong>MO</strong> 68450<br />
Building Size: 3,391 SF (Bldg)<br />
Land Size: 1.04 (Acres)<br />
Year Built: 2009<br />
THE LEASE:<br />
Lessee: <strong>Kum</strong> and <strong>Go</strong>, L.C.<br />
Lease Type: Absolute Net<br />
Landlord Responsibilities: None<br />
Lease Commencement: 20 year lease to start date of<br />
purchase<br />
Lease Expiration: 20 years from date of purchase<br />
Annual Rent: $178,250<br />
Renewal Options: Four (4) five-year options<br />
Rent Increases: 7.5% rent increases<br />
effective every 5 years<br />
Nebraska Nebraska, North Dakota Dakota, Oklahoma Oklahoma, South Dakota Dakota, Wisconsin and Wyoming) Landlord Responsibilities: None<br />
and is the nation’s 22 nd largest convenience store operator. The company’s<br />
market presence is primarily in the upper mid-west. <strong>Kum</strong> & <strong>Go</strong> has maintained 50<br />
years of dedicated community commitment, each year returning 10 percent of its<br />
profit to the communities it serves.<br />
TToday, d K<strong>Kum</strong> & G<strong>Go</strong>, LL.C. C currently tl employs l over 33,500 500 associates i t andd iis considered id d<br />
a pioneer in the convenience store industry, built on the strong work ethic of its<br />
founders. Recently, co-founder William Krause, was inducted into the Convenience<br />
Store News Hall of Fame. The corporation includes over 450 convenience stores<br />
and 7 other operating companies under the KG umbrella. In 1997, Convenience<br />
Store Decisions gave <strong>Kum</strong> & <strong>Go</strong> the honor of being named the #1 Convenience<br />
Store in the h UniteddStates. The h prestigious Des Moines Business Recordd Reader’s d<br />
Poll voted <strong>Kum</strong> & <strong>Go</strong>, L.C. the second best place to work in central Iowa.<br />
© 2009 <strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong> Group, Inc We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about<br />
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<br />
estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
AREA HIGHLIGHTS:<br />
�The �The SW Missouri/NW Arkansas area has experienced a great deal of growth<br />
during the past 5 years.<br />
�Strong traffic counts on Hwy 71 from Joplin to Bentonville.<br />
�<strong>Kum</strong> & <strong>Go</strong> will be the only C-Store between Joplin and Bentonville that offer<br />
24/7 diesel service.<br />
�<strong>Neosho</strong> - 10,505 people; Newton County - 52,636 people<br />
THE LOCATION:<br />
�Located in the heart of the Midwest, it is 15 miles south of Interstate 44 on<br />
Highway i h 71 SSouth. h<br />
�<strong>Neosho</strong> is approximately 170 miles for KC and 295 miles from St. Louis.<br />
DE<strong>MO</strong>GRAPHICS (2008)<br />
5 Mile 10 Mile 15 Mile<br />
Population: 16,613 30,812 58,673<br />
Average HH Income: $51,550 $49,117 $53,538<br />
Projected Growth 2008– 2013: 0.76% 0.83% 0.92%<br />
<strong>Kum</strong> & <strong>Go</strong> <strong>#449</strong> – <strong>Neosho</strong>, <strong>MO</strong><br />
THE MARKET:<br />
<strong>Neosho</strong>, the county seat of Newton County, is on the western edge of<br />
the Missouri Ozarks. Located in the heart of f the Midwest, it is 15<br />
miles south of Interstate 44 on Highway 71 South. <strong>Neosho</strong> is located<br />
just south of Joplin, <strong>MO</strong>.<br />
Joplin is located in southwest Missouri in the "four states" region<br />
encompassing p g Oklahoma, Kansas, Missouri and Arkansas. At the<br />
edge of the Ozark Mountain region, Joplin has a current population<br />
of 49,024. The daytime population swells to 270,000 while the<br />
population within a 40-mile radius of Joplin is 400,000, making it<br />
Missouri’s fourth largest metropolitan area. Joplin combines the<br />
beauty and hospitality of country living with the convenience and<br />
commerce of city vitality.<br />
© 2009 <strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong> Group, Inc We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about<br />
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<br />
estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
SITE PLAN:<br />
<strong>Kum</strong> & <strong>Go</strong> <strong>#449</strong> – <strong>Neosho</strong>, <strong>MO</strong><br />
© 2009 <strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong> Group, Inc We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about<br />
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<br />
estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.<br />
��<br />
N
Transportation Map:<br />
<strong>Kum</strong> & <strong>Go</strong> <strong>#449</strong> – <strong>Neosho</strong>, <strong>MO</strong><br />
© 2009 <strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong> Group, Inc We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about<br />
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<br />
estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.<br />
�
LOCAL MAP:<br />
�<br />
N<br />
<strong>Kum</strong> & <strong>Go</strong> <strong>#449</strong> – <strong>Neosho</strong>, <strong>MO</strong><br />
© 2009 <strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong> Group, Inc We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about<br />
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<br />
estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
REGIONAL MAP:<br />
<strong>Kum</strong> & <strong>Go</strong> <strong>#449</strong> – <strong>Neosho</strong>, <strong>MO</strong><br />
© 2009 <strong>CB</strong> <strong>Richard</strong> <strong>Ellis</strong> Group, Inc We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about<br />
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<br />
estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.