Current Use by Public Records
- Retail properties & Spaces
Property Details for 460 Us-56
- Year built
- 1975
- Lot size
- 0.96 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a single-tenant, absolute NNN leased Pizza Hut located at 460 US-56 in Elkhart, Kansas. The property boasts a substantial 2,416 square feet situated on a 0.96-acre lot. Built in 1975, this one-story building enjoys 100% occupancy with a highly desirable Pizza Hut franchisee. The current lease features a remaining term of 14.7 years, providing long-term stability and predictable cash flow. Annual rent increases of 1.5% are built into the lease, ensuring consistent growth in rental income. The property's strong performance is reflected in its impressive NOI of $66,069 and a 6.50% cap rate. The asking price is $1,016,000, translating to a price per square foot of $420.53. This represents a rare opportunity to acquire a well-established, passively managed investment in a limited-competition market. The property's location in Elkhart, Morton County, Kansas (zip code 67950) offers excellent visibility and accessibility. This is an ideal addition to any diversified real estate portfolio seeking strong returns and long-term security.
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
- Elkhart
- County
- Morton
- State
- Kansas
- Longitude
- -101.891
- Latitude
- 37.002
