Strickland Brothers

310 North State Route 291, Liberty, MO 64068

$2,465,000

Cap Rate 6.00%

Updated: 05.11.23 Posted: 05.10.23 Status: Sold

Summary

Price $2,465,000	Built/Renov 2022	Tenant Strickland Brothers
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,725	Lease Start 03-19-2023	#Units 173
Price/SF $1,428.99	Expiration 06-30-2038	Tenant Type Automotive
NOI $147,932	R. Term 12.11	Ownership Fee Simple
Rent/SF $85.76	Increases 10.0%/5/yrs	Pop 5Mi 77,059
Lot/AC 0.74	Options 4/5yrs/10%	AHHI 5Mi $109,464

Highlights

Brand-new 2022 construction
Tenant executed a brand-new 15-year lease in March 2023 with 4 (5-year) options to renew
Lease features rent increases of 10% every 5 years in the initial term and throughout the option periods
Absolute NNN lease | Zero landlord responsibilities
Strong personal guarantee for the entire primary term and option periods

Location Description

This newly constructed Strickland Brothers is ideally located at the intersection of Route 291 (26,000 VPD) and is positioned as an outparcel to Dick’s Sporting Goods and Ross Dress for Less. The site shares access with the $6M 2-acre MCBEE’s Coffee and Car Wash. It is adjacent to Route 152 (44,000 VPD) and Interstate 35 (49,000 VPD). Other anchor tenants surrounding the property include...

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Key Features

New construction
Hard corner intersection
Major thoroughfare
Shopping Ctr out-parcel
Freeway close
Highway location
Affluent AHHI $100K 5 Mi
Population increase trend
Absolute NNN
Personal guarantee

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Links

Strickland Brothers Wikipedia Liberty, Missouri Zip Code 64068 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Franchisee
Company:Personal Guarantee
# Units:173
Stock:Private

About Tenant

Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its drive-thru 10-minute oil change, and offers a list of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,640	55,691	89,169
2023 Total Population :	5,569	54,180	86,118
2023 Employed Civilian Pop :	2,942	28,150	44,755
2023 Total Businesses :	683	1,640	1,929
2023 Average Household Income :	$ 102,140	$ 120,559	$ 117,165
2023 Total Consumer Spending :	$ 205 M	$ 2053 M	$ 3189 M
2023 Median Age :	47	36	37
2023 Total Households :	2,349	19,898	31,753
2023 Pop Age 25+: Bachelor's Degree :	1,254	10,095	15,528
2023 Average Home Value :	$ 330,736	$ 321,254	$ 310,478

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Kansas St	S Forrest Ave	2005	50,439	0.25 mi
W Kansas St	W Blue Jay Dr	2008	49,846	0.29 mi
N Clayview Dr	Landmark Ave	2008	4,805	0.29 mi
Stewart Rd	N Conistor St	2007	3,710	0.31 mi
Stewart Rd N	N 291 Hwy	2015	2,606	0.33 mi
I- 35	W Kansas St	2019	27,479	0.34 mi
W Kansas St	N Clayview Dr	2015	17,673	0.34 mi
W Kansas St	N Clayview Dr	2008	24,110	0.37 mi
Conistor Ln	Stewart Rd	2015	12,699	0.38 mi
State Hwy 291	Elizabeth St	2016	25,686	0.41 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
33777 Views
80 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
34738 Views
77 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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