11220 Lone Elm Rd Olathe, KS 66061-9307
- Drive through restaurants
- 958 SF
- 0.84 lot acres
Jun 25, 2023
Current Use by Public Records
- Dutch Bros Coffee / Tea House / Coffee Shop
Property Details for 11220 Lone Elm Rd
- Year built
- 2022
- Lot size
- 0.84 lot acres
- Property size
- 958 SF
- Property type
- Drive through restaurants
- APN
- DP69650000 0041B
- APU
- DP696500000041B
Description
This exceptional investment opportunity presents a fee-simple, single-tenant Dutch Bros Coffee property in Olathe, Kansas. Built in 2023, the 950-square-foot building sits on a 0.84-acre lot and boasts a new 15-year absolute NNN lease with a corporate guarantee from Dutch Bros Coffee. The lease commenced May 24, 2023, and includes 10% rent bumps every five years, along with three five-year renewal options. The property enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $119,000 and a 5.30% cap rate. The asking price is $2,245,283, translating to a price per square foot of $2,363.46. Located at 11220 S Lone Elm Rd, Olathe, KS 66061, this strategically positioned property benefits from high traffic counts due to its proximity to major thoroughfares, K-State University Campus, Kansas Bioscience Park, and numerous schools, making it an ideal investment for long-term growth and stability. The surrounding area features a high average household income of $155,000 within a one-mile radius and is characterized by a strong presence of educational institutions and residential developments. This property offers a compelling combination of a robust tenant, a favorable lease structure, and a location within a thriving and rapidly expanding community.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $360,000
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Location Insight
- Map
- Local Demand
- City
- Olathe
- County
- Johnson
- State
- Kansas
- Longitude
- -94.8352
- Latitude
- 38.9254
- CBSA code
- 28140
- CBSA name
- KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA
