exclusive net-leased offering
EXCLUSIVE NET-LEASED OFFERING
Shopko 1217 South Highway 71 Kimball, NE 69145
Offering Summary Price Current Net Operating Income
$2,155,000 $183,231
Cap Rate
8.50%
Gross Leasable Area (GLA)
26,500
Price/SF
$81.32
Rent/SF
$6.91
Year Built
2008
Lot Size
Offices Nationwide
2.99 Acres
Tenant Summary Founded in 1962 and headquartered in Green Bay, Wisconsin, Shopko Stores Operating Co., LLC is a $3 billion retailer that operates over 330 stores in 21 states throughout the Midwest, Mountain, North Central and Pacific Northwest regions. Retail formats include 134 Shopko stores, providing quality name-brand merchandise, great values, pharmacy and optical services in small to mid-sized cities; 176 Shopko Hometown locations, a smaller concept store developed to meet the needs of smaller communities; 5 Shopko Express Rx stores, a convenient neighborhood drugstore concept; and 18 Shopko Pharmacy locations. In 1999, Shopko purchased Pamida, a regional discount chain that operated mainly in smaller communities of 3,000 to 8,000 people. Shopko operated Pamida as a separate division until 2007, when Pamida was separated from Shopko and reestablished as a separate company.
Two Towne Square, Suite 450 Sout hfield, MI 48076 • Tel: (248) 415 - 2600 Fa x: (248) 352 -3813
Annualized Operating Data Tenant
Shopko
Lease Type
Absolute-Net
Lease Commencement
May 19, 2008
Lease Expiration
July 31, 2023
Lease Term Remaining Options No. of Locations Web Site
9 Years 3 5-Year. 350+ www.shopko.com
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: V0291080 Property ID: 1972704)
1217 South Highway 71 • Kimball, NE 69145 Investment Overview Marcus & Millichap is pleased to offer for sale a single-tenant one-story 26,500-square foot building in Kimball, Nebraska occupied by Shopko. A 15-year absolute-net lease commenced in July of 2008 and expires in July 2023. The rent increases 10 percent on the tenth anniversary of the rent commencement day and 10 percent every subsequent five-year anniversary thereafter. There are an additional three five-year renewal options available. The tenant is responsible for all expenses associated with the building, including roof and structure.
Investment Highlights
Annual/Monthly Rent Schedule Rent Increases July 1, 2015 to July 31, 2018 August 1, 2018 to July 31, 2023*
Annual Rent
Annual Rent/SF
Monthly Rent
$183,231.00
$6.91
$15,269.25
$201,554.00
$7.61
$16,796.17
% Increase
10.00%
Financing Lender/Servicer
N/A $0
Nine Years Remaining on NNN Lease
Loan Amount
Listing Cap Rate - 8.50 Percent
Loan Type
N/A
10 Percent Rental Increase Every 10 Years
Maturity Date
N/A
Shopko Hometown Concept
Interest Rate
0%
No Walmart Within 40 Miles
Amortization
Blended Cap Rate During Term - 9.03 Percent
Annual Debt Service
0 $0
Demographics 2010 Population 2010 Households Average HH Income
1 Mile
3 Miles
5 Miles
1,967
2,736
2,866
865
1,210
1,260
$54,245
$53,622
$53,689
Dan Goaley Nebraska Broker of Record Tel: (402) 505-7736 License: NE 20061147
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: V0291080 Property ID: 1972704)
Shopko 1217 South Highway 71 Kimball, NE 69145
Offering Summary Price Current Net Operating Income
$2,155,000 $183,231
Cap Rate
8.50%
Gross Leasable Area (GLA)
26,500
Price/SF
$81.32
Rent/SF
$6.91
Year Built
2008
Lot Size
Offices Nationwide
2.99 Acres
Tenant Summary Founded in 1962 and headquartered in Green Bay, Wisconsin, Shopko Stores Operating Co., LLC is a $3 billion retailer that operates over 330 stores in 21 states throughout the Midwest, Mountain, North Central and Pacific Northwest regions. Retail formats include 134 Shopko stores, providing quality name-brand merchandise, great values, pharmacy and optical services in small to mid-sized cities; 176 Shopko Hometown locations, a smaller concept store developed to meet the needs of smaller communities; 5 Shopko Express Rx stores, a convenient neighborhood drugstore concept; and 18 Shopko Pharmacy locations. In 1999, Shopko purchased Pamida, a regional discount chain that operated mainly in smaller communities of 3,000 to 8,000 people. Shopko operated Pamida as a separate division until 2007, when Pamida was separated from Shopko and reestablished as a separate company.
Two Towne Square, Suite 450 Sout hfield, MI 48076 • Tel: (248) 415 - 2600 Fa x: (248) 352 -3813
Annualized Operating Data Tenant
Shopko
Lease Type
Absolute-Net
Lease Commencement
May 19, 2008
Lease Expiration
July 31, 2023
Lease Term Remaining Options No. of Locations Web Site
9 Years 3 5-Year. 350+ www.shopko.com
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: V0291080 Property ID: 1972704)
1217 South Highway 71 • Kimball, NE 69145 Investment Overview Marcus & Millichap is pleased to offer for sale a single-tenant one-story 26,500-square foot building in Kimball, Nebraska occupied by Shopko. A 15-year absolute-net lease commenced in July of 2008 and expires in July 2023. The rent increases 10 percent on the tenth anniversary of the rent commencement day and 10 percent every subsequent five-year anniversary thereafter. There are an additional three five-year renewal options available. The tenant is responsible for all expenses associated with the building, including roof and structure.
Investment Highlights
Annual/Monthly Rent Schedule Rent Increases July 1, 2015 to July 31, 2018 August 1, 2018 to July 31, 2023*
Annual Rent
Annual Rent/SF
Monthly Rent
$183,231.00
$6.91
$15,269.25
$201,554.00
$7.61
$16,796.17
% Increase
10.00%
Financing Lender/Servicer
N/A $0
Nine Years Remaining on NNN Lease
Loan Amount
Listing Cap Rate - 8.50 Percent
Loan Type
N/A
10 Percent Rental Increase Every 10 Years
Maturity Date
N/A
Shopko Hometown Concept
Interest Rate
0%
No Walmart Within 40 Miles
Amortization
Blended Cap Rate During Term - 9.03 Percent
Annual Debt Service
0 $0
Demographics 2010 Population 2010 Households Average HH Income
1 Mile
3 Miles
5 Miles
1,967
2,736
2,866
865
1,210
1,260
$54,245
$53,622
$53,689
Dan Goaley Nebraska Broker of Record Tel: (402) 505-7736 License: NE 20061147
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 Marcus & Millichap (Activity ID: V0291080 Property ID: 1972704)
