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: Sep 4 Last Checked: Sep 9 at 5:15AM

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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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$79,985

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

9.14%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,599,700 $1.6M

Cap Rate 7%

$1,142,643 $1.1M

Cap Rate 9%

$888,722 $888.7K

Market Conditions

NOI Build-Up for 13,800 SF 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.

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 rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

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.

Property 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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

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