Two-Tenant Retail Net-Lease
2580 S 9th St Salina, KS 67401
2580 S 9th St, Salina, KS, 67401
$2,602,874
For Sale
$2,602,874
Two long-tenured retail tenants operate under net leases with built-in rental increases and renewal options.
Property Size14,859 SF
Lot Size10.70 Acres
Price / SF$175.17
Days on Market104
Property Features for 2580 S 9th St
General Information
- Standard status
- Active
- Size
- 14,859 SF
- Lot size
- 10.70 Acres
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 2008
Listing agency
(816) 410-1010
Listed by
David Saverin · License #License(s) KS: 00249685
(816) 410-1010
Source
Marcusmillichap
Added: Apr 9 Updated: Jul 21 at 6:20AM Checked: Jul 21 at 6:20AM
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 David Saverin
Investment Insights
Based on property information with market context.
This two-tenant retail center includes Buffalo Wild Wings and Shoe Carnival, with both original tenants in place since 2014. The tenants operate under net leases featuring built-in rental increases and renewal options, and the property has recent lease extensions in place. The center is built to support ongoing retail operations, with ample on-site parking.
The property sits on a 10.70-acre lot with 120 parking spaces and is shadow-anchored by Kohl’s. It is located along a heavily traveled retail corridor near Interstate-135, within a broader retail environment that includes several major shopping centers. The site is also near Kansas Wesleyan University, Salina Area Technical College, Kansas State University Salina Aviation, and Salina South High School.
The property sits on a 10.70-acre lot with 120 parking spaces and is shadow-anchored by Kohl’s. It is located along a heavily traveled retail corridor near Interstate-135, within a broader retail environment that includes several major shopping centers. The site is also near Kansas Wesleyan University, Salina Area Technical College, Kansas State University Salina Aviation, and Salina South High School.
Key Highlights
- Two‑tenant retail center built in 2008 with both original tenants in place since 2014
- Buffalo Wild Wings and Shoe Carnival operate under net leases with built‑in rental increases and renewal options
- Recent lease extensions are in place for both tenants
Local Financial Insights For 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 | $219.3k | $14.76 |
| − Vacancy | −$9.2k | −$0.62 |
| EGI | $210.1k | $14.14 |
| − OpEx | −$63.0k | −$4.24 |
| NOI | $147.1k | $9.90 |
14,859 SF · lease $14.76/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.10M
$1.84M – $2.45M
NOI $147,075 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$155.05M
$135.67M – $180.90M
NOI $10,853,827 @ 7.0% cap · market cap 416.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Two long-tenured retail tenants operate under net leases with built-in rental increases and renewal options.
Where is this strip mall located?
The property is located at 2580 S 9th St Salina, KS.
What is the asking price?
The asking price for this property is $2,602,874.
What are key features of this property?
This property features: Two‑tenant retail center built in 2008 with both original tenants in place since 2014; Buffalo Wild Wings and Shoe Carnival operate under net leases with built‑in rental increases and renewal options; Recent lease extensions are in place for both tenants
