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Topgolf
2976 North Greenwich Road, Wichita, KS 67226
$21,183,000
Cap Rate 6.00%
Summary
| Price $21,183,000 | Built/Renov 2022 | Tenant Topgolf |
| Cap Rate 6.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
40,000
| Lease Start
12-01-2022
| #Units
70
|
| Price/SF $529.58 | Expiration
12-01-2042
| Tenant Type Sport/Fitness |
| NOI $1,271,000 | R. Term 18.12 | Ownership Fee Simple |
| Rent/SF
$31.78
| Increases 10.0%/4/yrs | Pop 5Mi 98,848 |
| Lot/AC 10.04 | Options 4/5yrs/10% | AHHI 5Mi $108,464 |
| | |
Lease Highlights
- New prototype concept that includes 9-hole mini golf course
- Topgolf has 19+ years remaining on their current lease term with 4 (5-year) options to extend
- The lease boasts 10% rental increases every 5 years, including each option to extend
- Absolute NNN | Zero landlord responsibilities
- Corporate guaranteed lease
Location Description
Topgolf is strategically located at the signalized, hard corner intersection of E. 29th Street N and Greenwich Rd., which see in excess of 9,600 vehicles passing by daily. It is ideally positioned 1 block north of the Greenwich Place Shopping Center, which features 150,000+ SF of retail space anchored by Michaels, ULTA, World Market, and more, creating a strong consumer draw to the trade area....
...Features
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New construction
-
Signalized intersection
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Highway close
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Top 100 MSA
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Affluent AHHI $100K 5 Mi
-
Brand new lease
-
Long 15+ yr lease
-
Absolute NNN
-
Traded and rated company
-
Corporate Guarantee
...
Maps
Tenant
- Tenant: Topgolf
- Guarantor:Corp T and Rated
- Company:Topgolf Calloway Brands
- # Units:70
- Tenant S&P: B+
- Moody’s: B1
- Stock:NYSE: MODG
About Tenant
Topgolf is a technology-enabled sports entertainment venue that features climate-controlled, outdoor hitting bays for year-round play, a chef-driven menu, hand-crafted cocktails, and music....
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 2,691 | 31,673 | 101,154 |
| 2023 Total Population : | 2,468 | 31,103 | 99,734 |
| 2023 Employed Civilian Pop : | 1,180 | 15,722 | 50,388 |
| 2023 Total Businesses : | 203 | 2,042 | 4,381 |
| 2023 Average Household Income : | $ 143,270 | $ 124,729 | $ 108,864 |
| 2023 Total Consumer Spending : | $ 114 M | $ 1351 M | $ 3679 M |
| 2023 Median Age : | 38 | 39 | 37 |
| 2023 Total Households : | 962 | 12,744 | 39,441 |
| 2023 Pop Age 25+: Bachelor's Degree : | 594 | 7,785 | 21,220 |
| 2023 Average Home Value : | $ 395,345 | $ 366,478 | $ 302,820 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| North Greenwich Road | E 29th St N | 2021 | 5,189 | 0.10 mi |
| State Hwy 96 | 2016 | 5,332 | 0.45 mi | |
| State Hwy 96 | 2021 | 1,170 | 0.45 mi | |
| State Hwy 96 | 2021 | 1,170 | 0.45 mi | |
| N Greenwich Rd | 2016 | 1,080 | 0.48 mi | |
| KS 96 | N Greenwich Rd | 2021 | 5,189 | 0.49 mi |
| N Regency Park | 2021 | 5,620 | 0.52 mi | |
| N Regency Park | 2021 | 5,620 | 0.52 mi | |
| State Hwy 96 | 2016 | 863 | 0.58 mi | |
| State Hwy 96 | 2021 | 850 | 0.59 mi |
