2976 Greenwich RdWichita, KS 67226

Property Details for 2976 Greenwich Rd

Year built

2022

Lot size

10.04 AC

Property size (Sq ft)

40,000 SF

Property type

Golf courses & driving ranges

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a newly constructed (2022), 40,000 square-foot Topgolf entertainment complex in Wichita, Kansas. Located on a 10.04-acre lot at a signalized, hard-corner intersection, this property boasts a strong location with surrounding retailers including Target, Hobby Lobby, Marshalls, and Academy Sports & Outdoors, and proximity to the Greenwich Place Shopping Center (150,000+ sq ft). The property features 255 parking spaces and benefits from a 100% occupancy rate with a long-term, absolute triple-net (NNN) lease. The lease includes a corporate guaranty from Topgolf International, Inc. (S&P: B+), with 19+ years remaining and four 5-year options to extend, providing a potential 40-year occupancy. Rent increases are scheduled at 10% every five years, including at the beginning of each option period. The property's net operating income (NOI) is $1,271,000, resulting in a 6.00% capitalization rate. The asking price is $21,183,000 ($529.58/sq ft). The Topgolf Wichita location is a premier entertainment destination featuring 52 climate-controlled hitting bays, a restaurant with an experienced culinary team, a 22-foot video screen, and over 100 HDTVs. A unique feature is the inclusion of a 9-hole mini golf course. The property is ideally situated near the newly built Stoney Point Townhome development (65+ units) and benefits from strong local demographics, including a high concentration of six-figure incomes within a one-mile radius. The location is also approximately 14 miles from downtown Wichita, a city experiencing significant economic growth, including the Integra Technologies $1.8B Wichita Semiconductor Plant project. This is a rare opportunity to acquire a high-quality, passively managed, and income-producing asset with significant long-term growth potential. The property's APN is 112-03-0-22-01-002.00 and is zoned for commercial use.

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.7366

Longitude

-97.2078

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