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    Dollar General Market Investment Opportunity Title is generated by Realmo AI

    10020 US 24, Silver Lake, KS 66539

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    Newly remodeled Dollar General Market on a prime highway location.

    Type:RETAIL
    Property size:
    11,680 SF
    Lot size:
    1.35 Acres
    Price / SF:
    $159/SF
    Added:
    May 5, 2025
    Days on Market:
    406
    Last Refresh:
    May 20 at 9:46 pm

    Property Features for 10020 US 24

    General Information

    Standard status
    Active
    Size
    11,680 SF
    Lot size
    1.35 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Josh Bishop
    Josh Bishop

    Listing agent Josh Bishop

    Listing office Matthews Real Estate Investment Services | Dallas

    Listing date May 5, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Matthews Real Estate Investment Services | Dallas

    HighLights

    • Prime Highway Location: High visibility on U.S. Highway 24.
    • Long‑Term Lease: 10‑year initial term with Four, 5‑Year Extension Options.
    • 2024 Remodel: Includes a new roof with a 15‑year warranty and a new HVAC system.
    • Dollar General Market: Indicates projected high sales volume.
    • Rental Increases: 10% increases every 5 years.
    • Large Lot & Building Size: 1.38‑acre lot with an 11,680 sq. ft. building.

    Overview

    This property, retrofitted in 2024 for a Dollar General Market store, features a new roof with a 15-year warranty and a new HVAC system. As a Dollar General Market, this location is projected to have a large sales volume. The lease includes 10% rental increases every 5 years throughout the base term and option periods. The initial lease term is 10 years, with four 5-year extension options. Situated on U.S. Highway 24 at 10020 NW US 24, Silver Lake, KS, the property benefits from high visibility and consistent daily traffic. The lot spans 1.38 acres (60,000 sq. ft.) and includes a building of 11,680 sq. ft. The landlord is responsible for roof, structure, and parking lot replacement, with the tenant reimbursing the landlord for parking lot maintenance. The tenant is responsible for taxes, insurance, and HVAC.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $172.4k $14.76
    − Vacancy −$7.1k −$0.61
    EGI $165.3k $14.15
    − OpEx −$41.3k −$3.54
    NOI $124.0k $10.62
    11,680 SF · lease $14.76/SF/yr · vacancy 4.10% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.77M
    $1.55M – $2.07M (±1% cap)
    NOI $123,996 @ 7.0% cap · market cap 6.65%
    Second Best
    Retail
    $1.66M
    $1.45M – $1.93M (±1% cap)
    NOI $116,092 @ 7.0% cap · market cap 6.22%
    Theoretical Best
    Office A
    $2.73M
    $2.39M – $3.19M (±1% cap)
    NOI $191,389 @ 7.0% cap · market cap 10.26%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Silver Lake
    County
    Shawnee
    State
    Kansas
    Longitude
    -95.8546
    Latitude
    39.0943

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    FAQs

    What type of property is this?
    Grocery and convenience store - Newly remodeled Dollar General Market on a prime highway location.
    Where is this grocery and convenience store located?
    The property is located at 10020 US 24 Silver Lake, KS.
    What is the asking price?
    The asking price for this property is $1,865,774.
    What are key features of this property?
    This property features: Prime Highway Location: High visibility on U.S. Highway 24.; Long‑Term Lease: 10‑year initial term with Four, 5‑Year Extension Options.; 2024 Remodel: Includes a new roof with a 15‑year warranty and a new HVAC system.
    (315) 730-6228 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Josh Bishop
    Josh Bishop
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