Current Use by Public Records
- Lifestyle centers
Property Details for 2310-A Kansas Ave
- Year built
- 2024
- Lot size
- 0.52 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a newly constructed (2024) 22,451 square foot Burlington shopping center in Garden City, Kansas. Located at 2310-A E Kansas Ave, this single-tenant property boasts a strong 10.3-year remaining lease term (commencing April 1, 2024, and expiring February 28, 2035) with a credit-rated corporate guarantor. The property features a modified NNN lease structure with four, five-year options and a $0.50/SF rent increase in year 11 and subsequent options. The asking price is $4,342,000, representing a compelling 6.75% cap rate and a price per square foot of $193.40. The property sits on a 0.515-acre lot and benefits from a 100% occupancy rate, generating a net operating income (NOI) of $293,111. The strategic location near Garden City Community College and the Garden City Plaza Shopping Center provides excellent visibility and access to a substantial trade area with a population exceeding 500,000 and average household incomes exceeding $74,000 within a one-mile radius. This investment offers a secure, long-term income stream with significant upside potential. The property is a prime example of a stable, high-performing retail asset in a growing market.
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
- Garden City
- County
- Finney
- State
- Kansas
- Longitude
- -100.896
- Latitude
- 37.975
