1114 Main St Lansing, KS 66043-1303

Property Details for 1114 Main St

Year built

1960

Construction

FRAME

Lot size

0.26 lot acres

Property size

3,400 SF

Property type

Retail space

APN

094-18-0-30-06-002.00-0

APU

941803006002000

Description

This exceptional investment opportunity presents a brand-new, 1,415 square foot auto shop in Lansing, Kansas, boasting a 15-year absolute NNN lease with a prominent, signalized corner location on N Main St (Highway 73) and Eisenhower Rd, experiencing a combined 70,400+ vehicles per day. The property, built in 2023, sits on a 0.23-acre lot with 5 parking spaces and enjoys 100% occupancy by a Take 5 Oil Change franchisee, a rapidly expanding national brand with over 800 locations. The lease includes a strong 10% rent increase every five years, ensuring consistent income growth. The property's strategic location within a thriving retail corridor, near major retailers like Home Depot, Aldi, and Starbucks, and its proximity to the University of Saint Mary (1,267 students), guarantees high visibility and consistent customer traffic. The current net operating income (NOI) is $110,000, yielding a 6.85% cap rate at the asking price of $1,606,000. The tenant holds exclusive rights within the Kansas City Metro Area, with plans for significant expansion, further solidifying the investment's long-term value. This is a truly exceptional opportunity to acquire a low-maintenance, high-return investment with a proven tenant and a strong lease structure. The leaseback structure offers zero landlord responsibilities. The tenant's business model is highly resilient, offering a contactless, 10-minute oil change service.