511 Mccurry Ave Madison, KS 66860
- Retail properties
- 7,489 SF
Current Use by Public Records
- Retail properties
Property Details for 511 Mccurry Ave
- Year built
- 2017
- Property size
- 7,489 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a single-tenant, absolute NNN leased Dollar General store located at 511 W McCurry Ave, Madison, KS 66860. The property boasts 7,489 square feet on a 150,282 square foot lot and was built in 2017. Currently operating under a 15.1-year lease commencing May 12, 2018, and expiring May 31, 2033, there are approximately 8.5 years remaining on the lease term. The property enjoys 100% occupancy and generates a substantial net operating income (NOI) of $76,644, resulting in a compelling 7.50% cap rate. The asking price is $1,021,920, translating to a price per square foot of $136.46. The lease includes a rent increase on June 1, 2028, with further 10% increases during the renewal period. This is an absolute NNN lease, meaning the tenant is responsible for all property expenses, minimizing landlord responsibilities. The property is part of a five-property Dollar General portfolio, offering potential for portfolio acquisition. This is a low-maintenance, high-return investment ideal for passive income seekers. Five (5-year) lease options are available.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Greenwood
- State
- Kansas
- Longitude
- -96.1398
- Latitude
- 38.1285
