1300 17th Ave Hutchinson, KS 67501-5611
- Outlet malls
- 55,471 SF
- 4.53 lot acres
Current Use by Public Records
- Kohl's / Department Store
- SEPHORA at Kohl's / Cosmetics Store / Beauty Supply Store
Property Details for 1300 17th Ave
- Year built
- 2012
- Lot size
- 4.53 lot acres
- Property size
- 55,471 SF
- Property type
- Outlet malls
- APN
- 133-06-0-40-19-008.02
- APU
- 133060401900802
Description
This exceptional investment opportunity presents a ground lease for a Kohl's department store located at 1300 E 17th Ave, Hutchinson, KS 67502. The property boasts a substantial 55,459 square feet on a 4.46-acre lot, built in 2012. The absolute NNN lease with Kohl's, a financially strong tenant with over $18 billion in revenue, provides significant security and minimal landlord responsibilities. The lease commenced on March 28, 2012, and has a remaining term of approximately 8.2 years, extending to January 31, 2033. Eight five-year lease options are included, with rent bumps of 5% at each option period. The current asking price is $3,143,000, representing a price per square foot of $56.67 and a 7.00% cap rate, with a current NOI of $220,000. The property benefits from its location in a strong retail trade corridor experiencing over 5.5 million annual visits, proximity to the Kansas State Fairgrounds (attracting over 330,000 annual visitors), and its location just one mile from Hutchinson Regional Medical Center. This single-story building offers a covered land play with a small ground rent relative to the cost basis in land and building, making it an attractive investment opportunity with significant long-term potential.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $8,805,000
- 6.5%
- $8,130,000
- 7%
- $7,550,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $8,635,000
Market price range: $2.52M - $8.64M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $5,220,000 Current use
- RESTAURANT
- $10,315,000 Change: +98% Conversion: Easy
- COMMERCIAL (GENERAL)
- $10,150,000 Change: +94% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $8,780,000 Change: +68% Conversion: Difficult
- OFFICE BUILDING
- $6,970,000 Change: +33% Conversion: Easy
- MEDICAL BUILDING
- $5,695,000 Change: +9% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $5,130,000 Change: -2% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Hutchinson
- County
- Reno
- State
- Kansas
- Longitude
- -97.9062
- Latitude
- 38.0731
- CBSA code
- 26740
- CBSA name
- HUTCHINSON, KS MICROPOLITAN STATISTICAL AREA
