245 West StWichita, KS 67212

Property Details for 245 West St

Year built

2014

Lot size

0.84 AC

Property size (Sq ft)

8,320 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership interest in an 8,320-square-foot Family Dollar store located at 245 N West St, Wichita, KS. Built in 2014 on a 0.84-acre lot, the property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $83,200. The property is subject to a Net Lease (NN) agreement with Family Dollar, a subsidiary of Dollar Tree, Inc., with a remaining lease term of 4.9 years, plus a recently executed 5-year extension commencing October 1, 2024, and six additional 5-year renewal options. The lease includes 100% reimbursement for insurance, taxes, and common area maintenance (CAM), with landlord responsibilities limited to roof and structural components. Rent increases are built into the lease extensions, providing a hedge against inflation. The property benefits from a prime location on a high-traffic corner, with over 25,000 vehicles passing daily, in a low-vacancy (4.8%) neighborhood retail corridor. The strong financial performance of Family Dollar, coupled with the long-term lease and favorable market conditions, makes this a compelling investment opportunity with significant potential for long-term returns. The property is a single-story building with one unit. The lease commenced July 31, 2014, and is set to expire September 30, 2029. The asking price is $1,188,000, translating to a price per square foot of $142.79.

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.6871

Longitude

-97.3901

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