Stanton Optical Lincoln,Nebraska

$1,103,000
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $1,103,000
  • Cap Rate: 6.00%
  • Rentable Square Feet: 2,206
  • Annual Rent: $66,180
  • Price PSF: $500.00
  • Year Built/Renovated: 1996/2019
  • Lease Guarantor: Vision Precision Holdings, LLC
  • Lease Type: Modified NNN
  • Rent Increases: 10% Every 5 Years
  • Lease Expiration: 8/12/2029

Description

4320 North 27th Street
Lincoln, NE 68521

Investment Highlights

  • New, Long-Term Lease with Three, Five-Year Renewal Options, Bringing Total Lease Term to 25 Years
  • 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
  • 2019 Remodel Includes Replacement of Electrical, Plumbing and HVAC
  • Roof was Replaced with 15-Year Firestone Red Shield Warranty
  • 2.5 Miles from the University of Nebraska-Lincoln East Campus, and Four Miles from the Main Campus, with a total Enrollment of 25,820 Students and Nearly 1,400 Academic Staff
  • Surrounding National Retailers Include Walmart Supercenter, The Home Depot, Sam’s Club, Anytime Fitness, PetSmart, Dollar Tree, AutoZone, Applebee’s, McDonald’s, Sonic, Verizon and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a newly remodeled Stanton Optical located in Lincoln, Nebraska. This listing offers a 10-year, modified triple net lease. The tenant will have three, five-year renewal options bringing the total term to 25 years. There are 10 percent rent increases every five years throughout the base term and option periods.

The Subject Property underwent a remodel in 2019 which included replacement of electrical, plumbing and HVAC. In addition, the roof was replaced with a 15-year Firestone Red Shield Warranty.

Stanton Optical is in a busy retail corridor at the signalized intersection of North 27th Street and Superior Street, with a combined traffic count of more than 47,600 vehicles daily. Surrounding national retailers include Walmart Supercenter, The Home Depot, Sam’s Club, Anytime Fitness, PetSmart, Dollar Tree, AutoZone, Applebee’s, McDonald’s, Sonic, Verizon and many more. The Property is 2.5 miles from the University of Nebraska-Lincoln East Campus, and four miles from the University’s main campus – with a total enrollment of 25,820 students and nearly 1,400 academic staff.

The Subject Property is located 52 miles southwest of Omaha, the largest city in the state; and five miles from the Lincoln Airport, which is the second largest airport in the state and home to Nebraska Air and Army National Guard. Lincoln is the Capital city of Nebraska and ranks among the top 100 Best Places to Live in America.


Jon Ruzicka

Broker of Records

Lic.# 20200223

(952) 852-9767

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