Investment Offering
Garden City, KS - TA Travel Center
1265 Solar Avenue | Garden City, KS 67846
$20,125,000
Price8%
Cap Rate$1,610,000
NOI17,847
± SF Offering GLA13.28
± AC Land AreaDescription
SRS National Net Lease Group in collaboration with Goldman Investment Advisors, Inc. is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN, TA Travel Center investment property located in Garden City, Kansas. The tenant, LV Petroleum, LLC, recently signed a brand new, extensive, 99-year lease term, with 4 (20-year) options, demonstrating their long-term commitment to the site. The lease features 2% annual rental increases during the initial term growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Additionally, the site is currently branded as Bosselman Travel Center, however the site is undergoing an extensive remodel with the tenant putting $5M+ into the property. Furthermore, the property will also feature a KFC, Dunkin’, and Sbarro Pizza as well as an in-house mechanic shop, providing for multiple sources of income for the tenant. Lastly, the store shows strong and increasing profitability / EDITDA (contact agent for details).
Location
The subject property is strategically located off U.S. Highway 50, a heavily traveled commuter thoroughfare serving the area with an average of 10,400 vehicles passing by daily. The asset also benefits from excellent visibility and access via a large pylon sign and multiple points of ingress/egress, and accommodates approximately 35 RV, and 177 truck parking spaces. The tenant, LVP, is owned by Lissette Amiel and Adrianne Moore and operated by Guy Madmen and Val Amiel who have over 15 years of experience in the retail industry including: gas stations and c-stores, travel centers, multi-unit car wash operations, and food services. Located by an immense retail corridor, the property is ideally situated nearby national/credit tenants including Sam’s Club, The Home Depot, Walmart, Target, Walgreens, Dollar General, TJ Maxx, Old Navy, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by more than 31,900 residents and 17,000 employees, providing a direct consumer base from which to draw. Residents within 5 miles of the site boast a healthy average household income of $82,086.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215
Larry Goldman
Goldman Investment Advisors[email protected]