3911 bolger road guitar

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.

BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200

Kansas City, Missouri 64112

Single-Tenant Triple Net Leased Investment REAL ESTATE FOR SALE - NEW LISTING

3911 Bolger RoadKansas City (Independence), MissouriNWC of I-70 & 291 Highway

Property is located at the only entrance drive to

Walmart Supercenter, Sam’s Club, and Petsmart

Sales Price: $3,650,000Cap Rate (Initial): 6.76%Cap Rate (as of 9/1/15): 7.43%NOI (initial): $246,688NOI (as of 9/1/15): $262,106Building Size: 15,418 sq ftLand Size: 64,340 sq ft

Investment Summary

John Cobb 816.412.7326

[email protected]

David Block 816.412.7400

[email protected]

For information contact:

11 YEARS REMAINING ON

CURRENT LEASE TERM!

EXCLUSIVE AGENTS

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.

BLOCK & COMPANY, INC., Realtors605 West 47th Street, Suite 200 | Kansas City, Missouri 64112

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and the same is subject to errors, omissions, changes of prices, rental or other conditions, prior sale or lease or withdrawal without notice.

For information contact: John Cobb [email protected]

David Block [email protected]

3911 Bolger Road | Independence, MissouriSingle-Tenant Triple Net Leased Investment

EXCLUSIVE AGENTS

Investment SummarySales Price: $3,650,000Cap Rate (Initial): 6.76%Cap Rate (as of 9/1/15): 7.43%NOI (initial): $246,688NOI (as of 9/1/15): $262,106Building Size: 15,418 sq ftLand Size: 64,340 sq ft

Investment Summary Property Highlights Single Tenant NNN Investment Tenant is the largest guitar retailer in the US with 225 stores Pad site of Walmart Supercenter, Sam’s Club, and Petsmart Freestanding building built in 1995 Zoned C-2

Property Highlights

Demographics Population: 132,417 (5-mile radius) Average Household Income: $66,922 (5-mile radius) Intersection carries 63,000 cars per day

Demographics

Lease SummaryLessee: Guitar Center, Inc. Westlake Village, CaliforniaLease Term: 11 years remainingLease Commencement: July 15, 2005Rent Schedule: Years 1-5 $227,416 Years 6-10 $246,688 Years 11-20 $262,106Lease Options: Years 1-5 $311,636 Years 6-10 $323,778Landlord Responsibilities: Limited Scope - Roof, All plumbing and electrical (under & outside premises), foundation, slab, exterior walls, exterior surfaces of premises, structural walls, load bearing walls

Lease Summary

Financial HighlightsGross Scheduled Income: $246,699Expenses: $0 (NNN Lease)Net Operating Income: $246,699

Financial Highlights

Location

NWC I-70 & 291 Hwy., Independence, Missouri Located at the only entrance drive to Walmart Supercenter, Petsmart,

and Sam’s Club Across the street from Independence Center Mall, Bass Pro Shop, Target,

Macy’s, Sears, Costco, Lowe’s, Dillards, JC Penney, Dick’s Sporting Goods, and many others

The I-470 / I-70 retail corridor in eastern Jackson County (Independence) is considered to be one of the most active retail areas in metropolitan Kansas City. This regional power center area boasts over 3 million square feet of retail and is still growing. Independence, Missouri is the fourth largest retail market in Missouri, and is home to the new Bass Pro Shop located on a 180-acre lifestyle development featuring 850,000 sq ft of retail shops.

Location







EXCLUSIVE AGENTS

Tenant Information

Guitar Center Store, Inc. operates retail stores, which market musical instruments in the United States. They are the worlds largest retailer of guitars, ampli� ers, drums keyboards, recording, live sound, DJ and lighting equipment. They are also the largest direct response retailer of musical instruments in the United States through Musician’s Friend, Inc. a wholly owned subsidiary, and its catalog and Web site, www.musiciansfriend.com. In addition, the company’s Music and Arts division operates more than 100 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. Guitar Center Stores, Inc. was incorporated in 2000 and is based in Westlake Village, California

Guitar Center’s sister companies/subsidiaries incorporate Music & Arts Center, Musician’s Friend, Guitar Center.com, LMI, Giardinelli, Musician.com, Private Reserve Guitars, Woodwind and Brasswind and Harmony Central.

Guitar Center Stores, Inc. operates as a subsidiary of Guitar Center Inc., the largest chain of musical instrument retailers in the world.

Tenant Information UPDATE Wall Street Journal

April 2014: Ares Management LLC took a controlling stake in music-instruments retailer Guitar Center, part of a deal that converted some of the private-equity � rm’s debt in the retailer into equity, the retailer said. Bain Capital, Guitar Center’s former owner, retained partial ownership of the company, along with representation on the board. The Wall Street Journal reported in late February that Ares and Bain Capital were in the � nal stages of hashing out a deal to swap the Guitar Center debt that Ares owns into equity. Ares had owned the majority of Guitar Center’s debt. Guitar Center, a 250-store U.S. chain, had about $1.6 billion in debt, much of it stemming from Bain’s $2.1 billion leveraged buyout of the company in 2007. The company was due to pay about $144 million in annual debt payments through 2016 and about $150 million total in 2017 and 2018, according to recent quarterly securities � ling.

Under the new deal, Guitar Center’s total debt was reduced by about $500 million and its annual cash interest expense was cut by over $70 million. In addition to the debt-to-equity exchange between Ares and Bain Capital, Guitar Center said it completed a re� nancing of its remaining debt at a lower interest rate and providing greater � nancial � exibility.

Mike Pratt, the retailers chief executive, said the deal will provide it with the resources to expand its footprint and invest in its business.

Besides guitars, the retailer sells ampli� ers, percussion instruments, keyboards and audio and recording equipment in stores and online. It also o� ers repair services and rents out rehearsal and lesson space in many stores.

Standard and Poor’s as of April 2014 has upgraded their Credit Rating to BB+

UPDATE Wall Street Journal







EXCLUSIVE AGENTS

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EXCLUSIVE AGENTS

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EXCLUSIVE AGENTS

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EXCLUSIVE AGENTS







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39th Street & 291 HighwayIndependence, Missouri

May 2009

Lat: 39.0852 Lon: -94.4504 Zoom: 21.98 m

i Logos are for identification purposes only and may be tradem

arks of their respective companies.

©2009, SITES USA Inc., Chandler, AZ (480) 491-1112. All Rights Reserved.

This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.







EXCLUSIVE AGENTSDemographic Source: Applied Geographic Solutions 08/2014, TIGER Geography page 1 of 1©2014, Sites USA, Chandler, Arizona, 480-491-1112

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SUMMARY PROFILE2000-2010 Census, 2014 Estimates with 2019 ProjectionsCalculated using Proportional Block Groups

Lat/Lon: 39.0476/-94.3673RS1

3911 Bolger Road1 mi radius 3 mi radius 5 mi radius

Independence, MO 64055

PO

PU

LATI

ON

2014 Estimated Population 6,895 50,489 132,417

2019 Projected Population 6,983 51,137 134,125

2010 Census Population 6,778 49,631 130,168

2000 Census Population 5,841 43,894 120,765

Projected Annual Growth 2014 to 2019 0.3% 0.3% 0.3%

Historical Annual Growth 2000 to 2014 1.3% 1.1% 0.7%

2014 Median Age 39.1 41.8 39.8

HO

US

EH

OLD

S2014 Estimated Households 3,161 21,863 55,491

2019 Projected Households 3,248 22,462 57,016

2010 Census Households 3,057 21,139 53,655

2000 Census Households 2,567 18,178 49,193

Projected Annual Growth 2014 to 2019 0.5% 0.5% 0.5%

Historical Annual Growth 2000 to 2014 1.7% 1.4% 0.9%

RA

CE

AN

DE

THN

ICIT

Y

2014 Estimated White 84.0% 86.6% 83.9%

2014 Estimated Black or African American 8.2% 6.2% 8.5%

2014 Estimated Asian or Pacific Islander 2.2% 2.0% 1.7%

2014 Estimated American Indian or Native Alaskan 0.4% 0.5% 0.5%

2014 Estimated Other Races 5.2% 4.8% 5.4%

2014 Estimated Hispanic 6.8% 6.0% 6.6%

INC

OM

E 2014 Estimated Average Household Income $64,386 $70,688 $66,922

2014 Estimated Median Household Income $53,692 $59,377 $55,836

2014 Estimated Per Capita Income $29,602 $30,678 $28,104

ED

UC

ATI

ON

(AG

E 2

5+)

2014 Estimated Elementary (Grade Level 0 to 8) 2.2% 2.4% 2.6%

2014 Estimated Some High School (Grade Level 9 to 11) 6.0% 6.8% 7.9%

2014 Estimated High School Graduate 33.4% 31.6% 33.0%

2014 Estimated Some College 26.8% 26.6% 26.4%

2014 Estimated Associates Degree Only 8.7% 6.2% 5.9%

2014 Estimated Bachelors Degree Only 16.0% 16.6% 15.0%

2014 Estimated Graduate Degree 6.9% 9.8% 9.1%

BU

SIN

ES

S 2014 Estimated Total Businesses 374 2,095 4,866

2014 Estimated Total Employees 5,698 24,538 49,311

2014 Estimated Employee Population per Business 15.2 11.7 10.1

2014 Estimated Residential Population per Business 18.4 24.1 27.2

3911 bolger road guitar

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