Brakes Plus Ground Lease,
Lincoln, NE Investment Summary
| Price | $2,870,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 years |
| Lease Type | Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
| Rental Increases | 10% rental increase in Year 11 and every five (5) years thereafter |
| Year Built | 2019 |
| Building Size | 4,897 SF |
| Lot Size | 0.85 acres (37,026 SF) |
| Status | Sold |
| Lead Brokers | JUSTIN RIVIERA Senior Associate 402.548.4064 jriviera@lundco.com MARTIN PATZNER, CPM, RPA Vice President, Office Specialist 402.548.4033 mpatzner@lundco.com |
Investment Highlights
NEW ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New 20-year lease with four five-year options, creating a stable, long-term investment
» 10% rental increases beginning in Year 11 and occurring every five years thereafter, providing a hedge against inflation
» Absolute NNN ground lease requires no landlord management, ideal for an out-of-area investor
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 50,610 vehicles per day at the signalized intersection of Pine Lake Road and South 14th Street
» Outparcel to Costco-anchored retail center
» Neighboring parcels under development for future retailers
» Near SouthPointe Pavilions, a premier lifestyle center tenanted by Von Maur, Scheels, Banana Republic, Barnes & Noble, Old Navy, and more
» Surrounded by notable national tenants, including Walmart Supercenter, Chick-fil-A, Trader Joe’s, and many others
CENTRAL LOCATION WITH STRONG DEMOGRAPHICS
» Directly across from Lincoln Southwest High School, which has a total enrollment of 2,089 students
» Surrounded by affluent residential neighborhoods; the average household income within a one-mile radius is $107,098
» 133,199 residents live within a five-mile radius
» The Lincoln MSA is currently one of the fastest growing metro areas in the Midwest
NEW 2019 CONSTRUCTION
» New building, limiting near-term deferred maintenance or capital costs
» Built by tenant at tenant’s expense, demonstrating long-term commitment to the location
Property Description
SOLD
The property is strategically located just off of the signalized intersection of Pine Lake Road and South 14th Street, with excellent visibility and access to 50,610 vehicles per day. Located in a dense retail corridor, the property is surrounded by major national retailers and large shopping centers. The property is outparcel to a Costco-anchored center and is a short distance from SouthPointe Pavilions, a premier lifestyle center tenanted by Von Maur, Scheels, Banana Republic, Barnes & Noble, Old Navy, and more. Other notable tenants near the property include Walmart Supercenter, Chick-fil-A, Trader Joe’s, and many others.
The property is directly across from Lincoln Southwest High School, which has a total enrollment of 2,089 students. Several other schools are nearby, including Scott Middle School (1,076 students), Adams Elementary School (815 students), and Ruth Hill Elementary Hill (578 students). Additionally, the property is surrounded by affluent residential neighborhoods; the average household income within a one-mile radius is $107,098, and 133,199 residents live within a five-mile radius.
