703 9Th St Peabody, KS 66866
- Retail properties
- 7,489 SF
Current Use by Public Records
- Dollar General / Party Store / Dollar Store
- FedEx OnSite / Mailing Service
- Western Union / Money Transfer Service
- Dollar General #18138 / Dollar Store / Convenience Store
Property Details for 703 9Th St
- Year built
- 2017
- Property size
- 7,489 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a single-tenant, 7,489 square foot Dollar General store located at 703 E 9th St, Peabody, Kansas, 66866. The property sits on a 43,299 square foot lot and was built in 2017. Currently operating under an Absolute NNN lease with a remaining term of approximately 7.8 years, expiring August 31, 2032, this property offers a strong, stable income stream. The lease commenced August 23, 2017, and includes a 10% rent increase built in for the renewal period. The current annual Net Operating Income (NOI) is $74,712, resulting in a 7.50% capitalization rate. The asking price is $996,160, translating to a price per square foot of $133.02. The lease includes five, five-year options, providing long-term security for the investment. This is a single-story building with 100% occupancy. The property is classified as both a convenience store and a grocery store. This investment offers a compelling combination of strong tenant performance, a favorable lease structure, and a desirable location in Peabody, Kansas. The property is part of a larger five-property Dollar General portfolio, though this listing is for the Peabody location only.
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
- Peabody
- County
- Marion
- State
- Kansas
- Longitude
- -97.0972
- Latitude
- 38.174
