245 West St Wichita, KS 67212
- Retail properties
- 8,320 SF
- 0.84 lot acres
Current Use by Public Records
- Family Dollar / Discount Store / Discount Supermarket
Property Details for 245 West St
- Year built
- 2014
- Lot size
- 0.84 lot acres
- Property size
- 8,320 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership interest in an 8,320-square-foot Family Dollar store located at 245 N West St, Wichita, KS. Built in 2014 on a 0.84-acre lot, the property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $83,200. The property is subject to a Net Lease (NN) agreement with Family Dollar, a subsidiary of Dollar Tree, Inc., with a remaining lease term of 4.9 years, plus a recently executed 5-year extension commencing October 1, 2024, and six additional 5-year renewal options. The lease includes 100% reimbursement for insurance, taxes, and common area maintenance (CAM), with landlord responsibilities limited to roof and structural components. Rent increases are built into the lease extensions, providing a hedge against inflation. The property benefits from a prime location on a high-traffic corner, with over 25,000 vehicles passing daily, in a low-vacancy (4.8%) neighborhood retail corridor. The strong financial performance of Family Dollar, coupled with the long-term lease and favorable market conditions, makes this a compelling investment opportunity with significant potential for long-term returns. The property is a single-story building with one unit. The lease commenced July 31, 2014, and is set to expire September 30, 2029. The asking price is $1,188,000, translating to a price per square foot of $142.79.
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
- Wichita
- County
- Sedgwick
- State
- Kansas
- Longitude
- -97.3901
- Latitude
- 37.6871
