8144 Kellogg DrWichita, KS 67207

Property Details for 8144 Kellogg Dr

Year built

1987

Construction

FRAME

Lot size

0.23 AC

Property size (Sq ft)

1,506 SF

Property type

Retail space

APN

087-114-20-0-33-04-015.01

APU

87114200330401501

Description

This exceptional investment opportunity presents a brand-new, 1,506 square-foot auto shop in Wichita, Kansas, leased to a Budget franchisee. The property boasts a 10-year absolute triple-net (NNN) lease commencing January 1, 2024, and expiring December 31, 2033, with two five-year renewal options. Rent increases are structured with a 5% bump every five years and a 10% increase during each option period, ensuring strong future cash flow. Built in 2023, this high-quality building sits on a 0.82-acre lot in a prime retail corridor, directly across from Towne East Square Shopping Mall and surrounded by national retailers such as ALDI, At Home, and Burlington. The property enjoys excellent visibility and accessibility on East Kellogg Avenue (US Route 400), a major thoroughfare with over 45,900 vehicles passing daily. The strong demographics of the area, with 168,073 residents within a five-mile radius, further enhance the investment potential. The current Net Operating Income (NOI) is $70,000, representing a 6.50% cap rate on the asking price of $1,078,000 ($715.80 per square foot). This is a rare opportunity to acquire a secure, high-performing investment with significant long-term growth potential in a thriving Wichita market. The property's location and tenant strength make it an ideal addition to any diversified real estate portfolio. The lease terms and strong tenant credit rating provide a high degree of security and predictability for future income streams.

• CAP approach

  CAP return

  Valuation

  6%

  $381,415

  6.5%

  $352,076

  7%

  $326,927

• Comparable approach

  Method

  Valuation

  Relative Method

  $456,629

  Geo Method

  $456,629

• Alternative Use

  Use

  Valuation

  Residential

  $296,989

  Hospitality

  $272,040

  Educational

  $226,334

  Medical

  $234,118

  Retail

  $352,076

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Latitude

37.68

Longitude

-97.2418

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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