Current Use by Public Records
- Neighborhood centers
Property Details for 1339-1343 Hillside St
- Year built
- 1954
- Lot size
- 0.37 lot acres
- Property type
- Neighborhood centers
- Property subtype
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a fully leased, 5,512 square foot retail center located at 1339-1343 North Hillside Street in Wichita, Kansas. The property boasts a strong 100% occupancy rate, generating a substantial net operating income (NOI) of $64,000, representing a 10% cap rate. The asking price is $640,000, translating to $116.11 per square foot. Built in 1954 and situated on a 0.37-acre lot, this single-story, Class C building features a multi-tenant configuration with a grocery store and restaurant. Recent renovations include updated HVAC, electrical, and plumbing systems, along with a new kitchen hood vent for the restaurant and a new 23-door cooler for the grocery tenant. The property also includes a 2700 square foot basement offering ample storage space. The gross lease structure simplifies management, and the remaining lease term is 3 years. The property is zoned Limited Commercial (LC) and includes 23 parking spaces. 2022 property taxes totaled $1,984.55. Detailed financial information is available upon request. This is a rare opportunity to acquire a well-maintained, income-producing retail property in a desirable Wichita location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wichita
- County
- Sedgwick
- State
- Kansas
- Longitude
- -97.2991
- Latitude
- 37.7076
