11220 Lone Elm RdOlathe, KS 66061

Property Details for 11220 Lone Elm Rd

Year built

2022

Lot size

0.84 AC

Property size (Sq ft)

958 SF

Property type

Drive through restaurants

APN

DP69650000 0041B

APU

DP696500000041B

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Dutch Bros Coffee property in Olathe, Kansas. Built in 2023, the 950-square-foot building sits on a 0.84-acre lot and boasts a new 15-year absolute NNN lease with a corporate guarantee from Dutch Bros Coffee. The lease commenced May 24, 2023, and includes 10% rent bumps every five years, along with three five-year renewal options. The property enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $119,000 and a 5.30% cap rate. The asking price is $2,245,283, translating to a price per square foot of $2,363.46. Located at 11220 S Lone Elm Rd, Olathe, KS 66061, this strategically positioned property benefits from high traffic counts due to its proximity to major thoroughfares, K-State University Campus, Kansas Bioscience Park, and numerous schools, making it an ideal investment for long-term growth and stability. The surrounding area features a high average household income of $155,000 within a one-mile radius and is characterized by a strong presence of educational institutions and residential developments. This property offers a compelling combination of a robust tenant, a favorable lease structure, and a location within a thriving and rapidly expanding community.

• CAP approach

  CAP return

  Valuation

  6%

  $236,976

  6.5%

  $218,747

  7%

  $203,122

• Comparable approach

  Method

  Valuation

  Relative Method

  $172,685

  Geo Method

  $172,685

• Alternative Use

  Use

  Valuation

  Residential

  $184,521

  Hospitality

  $169,021

  Educational

  $140,623

  Medical

  $145,459

  Retail

  $218,747

Location Insight

City

Olathe

County

Johnson

State

Kansas

Latitude

38.9254

Longitude

-94.8352

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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