9 Broadway StHerington, KS 67449

For Sale
$1,178,000

8.25% Cap Rate, Family Dollar

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 11,807 square foot Family Dollar/Dollar Tree retail property located at 9 S Broadway St, Herington, KS 67449. The property, built in 2021, sits on a 0.55-acre lot and boasts a strong 8.25% cap rate, generating a net operating income (NOI) of $97,170. The asking price is $1,178,000, translating to a price per square foot of $99.77. A 10-year net lease with Dollar Tree commenced June 29, 2021, leaving 6.6 years remaining. The lease is a corporate guaranteed Net Net (NN) lease, meaning the tenant is responsible for property taxes, insurance, HVAC, and utilities, along with parking lot maintenance (resealing and restriping). Landlord responsibilities are limited to roof and structure maintenance, and parking lot repaving. Dollar Tree, a Fortune 500 company with an S&P investment-grade credit rating of BBB, operates over 16,340 stores nationwide and is experiencing significant expansion. The property's strategic location on Hwy 77, approximately 30 minutes south of Junction City and Fort Riley, Kansas, benefits from the substantial economic impact of Fort Riley, which includes a large active-duty military population, civilian employees, and retirees. This presents a compelling investment opportunity with a stable tenant, strong returns, and a desirable location.

Property Details for 9 Broadway St

Property type
Other retail properties, Individual retail properties
Square Feet
11,807 SF
Year Built
2021
Lot Size (sq. ft)
23,958 SF

Location Insight

City
Herington
County
Dickinson
State
Kansas
Latitude
38.6700557
Longitude
-96.9439782
9 Broadway St, Herington, Kansas

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9 Broadway St
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