11220 Lone Elm RdOlathe, KS 66061

For Sale
$2,245,283

High-yield, NNN-leased QSR in prime Olathe location.

Overview

Added:
Dec 11, 2024
Days on market:
96
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.

Highlights

  • 2023 Construction.
  • New 15-Year Absolute NNN Lease.
  • Olathe, KS location in the Kansas City MSA, 20 miles from Downtown Kansas City.
  • Highly affluent area with $155,000 average household income within 1 mile.
  • Highly educated population: 61% with Bachelor's degrees or higher within 1 mile.
  • Excellent location near schools (Olathe Northwest High, Meadow Lane Elementary, Prairie Trail Middle) and K-State University Campus and Kansas Bioscience Park.

Property Details for 11220 Lone Elm Rd

Property type
Other retail properties, Restaurants
Square Feet
950 SF
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
36,590 SF
Units
1

Location Insight

City
Olathe
County
Johnson
State
Kansas
Latitude
38.925393355093
Longitude
-94.835597890002
11220 Lone Elm Rd, Olathe, Kansas

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11220 Lone Elm Rd
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