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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
Nearby Comparable
For Sale
$45,000
the restaurant has not been open for several years. The main floor has the caf\u00c3\u00a9 area along with a private dining room. In the back is an apartment that has not been used for several years also. Upstairs are 3 1 bedroom apartments that are vacant. This could e a great investment property. The Seller had a structural inspection completed and the report is available on request . Buyers to do due diligence for types of use for the building
it is suggested to talk to local code enforcement.""""}"""
the restaurant has not been open for several years. The main floor has the caf\u00c3\u00a9 area along with a private dining room. In the back is an apartment that has not been used for several years also. Upstairs are 3 1 bedroom apartments that are vacant. This could e a great investment property. The Seller had a structural inspection completed and the report is available on request . Buyers to do due diligence for types of use for the building
it is suggested to talk to local code enforcement.""""}"""
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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