Listing Agency: KW One Legacy Partners, LLC c***@gmail.com Show Phone

Listed By: Sandra Haines · License #SP00233997 Show Phone

Source: Exprealty

Added: Jun 24 Changed: Oct 6 Last Checked: Oct 23 at 9:53AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 13,800-square-foot retail building previously operated as a fully functional grocery store. The on-site setup includes essential equipment such as coolers, which remains in place for a potential quick restart. The configuration supports a range of retail and service uses, depending on an operator’s build-out and business needs.

The property is located in a high-traffic area on K-4 Highway, at 7312 K4 Hwy in Meriden, KS. Access and visibility are tied to its placement along the highway.

The offering is positioned as a versatile commercial space with existing core infrastructure and equipment already on site.

Key Highlights

• 13,800 SF building on K‑4 Highway in a high‑traffic area
• Previously operated as a fully functional grocery store
• Essential equipment remains on‑site, including coolers

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,985

Cap Rate

9.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,599,700 $1.6M

Cap Rate 7%

$1,142,643 $1.1M

Cap Rate 9%

$888,722 $888.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,800 SF

Gross rent

$124.2K $9.00/SF

− Vacancy

−$9.9K −$0.72/SF

EGI

$114.3K $8.28/SF

− OpEx

−$34.3K −$2.48/SF

NOI

$80.0K $5.80/SF

Area

Jefferson County, KS

Vacancy

8.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,599,700

Cap Rate 7%

$1,142,643

Cap Rate 9%

$888,722

Alternative Uses

Best Use

Specialty Retail

$1.42M

$1.24M – $1.65M (±1% cap)

NOI $99,236 @ 7.0% cap · market cap 11.34%

Second Best

Retail

$1.14M

$999.8K – $1.33M (±1% cap)

NOI $79,985 @ 7.0% cap · market cap 9.14%

Theoretical Best

Self Storage

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $108,965 @ 7.0% cap · market cap 12.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Building Supply Electrical Service Big Box & Wholesale Store Grocery & Convenience Store Catering Service Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

49

Businesses Nearby

16k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 53% Dining 29% Groceries 17%

Dollar General Shops & Services

5,810 visits/mo 0.3 miles

Gambino's Dining

3,018 visits/mo 0.0 miles

Country Harvest Apple Market Groceries

2,775 visits/mo 0.1 miles

Sinclair Shops & Services

2,677 visits/mo 0.1 miles

SUBWAY Dining

1,667 visits/mo 0.0 miles

Demographics for 66512, KS

3,390

Population

1,360

Households

2.5

Avg Household Size

43

Median Age

20%

College-Educated

93%

High-School Grad

66.7 sq mi

ZIP Area

51

Density / Sq Mi

$75,497

Median Household Income

$41,806

Median Earnings

$975

Median Rent

$183,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Similar Off Market Nearby

• Country Harvest Apple Market — 7312 KS-4, Meriden, KS 66512

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Former grocery store building with on-site coolers and essential equipment, suited for a quick restart.

Where is this grocery and convenience store located?

The property is located at 7312 K4 Hwy Meriden, KS.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: 13,800 SF building on K‑4 Highway in a high‑traffic area; Previously operated as a fully functional grocery store; Essential equipment remains on‑site, including coolers