61 Ks-4 Hoisington, KS 67544
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 61 Ks-4
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This investment-grade, net-leased Dollar General store in Hoisington, Kansas, presents a compelling opportunity. The 9,100 square foot building, constructed in 2009, sits on a highly visible location on Highway 281, experiencing 3,269 cars per day. The property boasts a strong net operating income (NOI) of $78,598, yielding an 8.51% cap rate based on the asking price of $924,000. The lease, originally signed on March 27, 2009, has a remaining term of approximately 4.9 years, with three 5-year renewal options, each including rent increases. This NN+ lease provides minimal landlord responsibilities. The tenant, Dollar General Corporation, holds a "BBB" investment-grade credit rating, further enhancing the security of this investment. The surrounding area demonstrates strong demographics, with a three-mile average household income of $61,224 and a ten-mile population of 6,459. This property is ideally suited for a 1031 exchange buyer or a passive investor seeking a stable, high-performing asset backed by a financially sound national retailer. The lease commenced March 27, 2009, and expires September 30, 2029.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hoisington
- County
- Barton
- State
- Kansas
- Longitude
- -98.7862
- Latitude
- 38.5216
