Investment Offering
Columbia, MO - Byrider
608 Business Loop 70 W | Columbia, MO 65203
$2,240,000
Price7.5%
Cap Rate$168,000
NOI2010
Year Built7,344
± SF Offering GLA1.15
± AC Land AreaDescription
SRS Real Estate Partners, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Byrider investment property located in Columbia, Missouri. The tenant, COMO Auto Sales, Inc. has approximately 7 years remaining on its 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features variable rental increases in year 8 of the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Byrider is a leading buy-here-pay-here used car dealership, with over 140 locations across the United States.
Location
The Byrider is located right off of US Highway 40, which averages over 35,700 vehicles passing by daily. Business Loop 70 West is a major retail thoroughfare serving the city of Columbia. The Byrider is located across from a 276,000+ square foot shopping center, complete with tenants including Harbor Freight Tools and Columbia College. The subject property is also located less than 2 miles from Columbia Mall an 856,000+ square foot mall, anchored by Target, Dillard’s. JCPenney, and Barnes & Noble. The asset is strategically placed in the middle of the auto sales hub of the town, with Kia, Chevrolet/Buick/GMC/Cadillac, Nissan, Toyota, Volkswagen, and Honda dealerships all located within a 2-mile radius. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Dick’s Sporting Goods, Best Buy, Hobby Lobby, Aldi, H&M, and more, further increasing consumer traffic to the site. 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 a population of over 127,400 with an average household income of $83,824.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226