Sold 25455 E. Smoky Hill Rd.

Kyle Malnati of Kentwood is proud to announce another successful transaction of a Single Tenant Net Leased (STNL) investment! The Buyer recently sold an 8 unit apartment building with Kyle, while he was at Calibrate Real Estate a few months ago. It was a legacy asset which their family had owned for 50+ years and they were looking to complete a 1031 exchange.

This Family Office signed a Buyer’s Agency Agreement with Kyle to faciliate their 1031 Exchange because of his versitile experience with two different commercial real estate specializations: multifamily and NNN retail. Kyle went to work, over a 45-day period, searching for either a multifamily or a retail replacement property to fulfill the Buyer’s exchange requirements.

The Buyer was attracted to this investment, because of the great location in a community center with destination tenants that produce consumers of “frou-frou” coffee and high-priced lattes: Cherokee Trail High School, Eastern Hills Community Church, 1stBank, etc.

The long-term lease (29.5 years including the extension options) at a blended cap rate of 6.49% ($5,044,426 life-time rent) compared to multifamily investments with shorter tenancy at a lower return.

2/1/2024 – 8/31/2028: $11,664 monthly; $139,967 (5.37% cap)

9/1/2028 – 8/31/2033: $12,539 monthly; $150,462 (5.77% cap)

9/1/2033 – 8/31/2038: $13,480 monthly; $161,754 (6.20% cap)

9/1/2038 – 8/31/2043: $14,491 monthly; $173,887 (6.67% cap)

9/1/2043 – 8/31/2048: $15,577 monthly; $186,925 (7.17% cap)

9/1/2048 – 8/31/2053: $16,746 monthly; $200,954 (7.70% cap)

The Starbucks corporate guarantee creates a steady, reliable income-stream for this generation and the next! This sale is the perfect example of Kyle’s personal mission statement: “I exist to help people create generational wealth through real estate.”