14189 135th St, Olathe, KS 66062-9402

Property Details for 14189 135th St

Year built

2018

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.03 lot acres

Property type

Drive through restaurants

APN

DP44730000 0002A

APU

DP447300000002A

Description

This exceptional investment opportunity presents a brand-new, 2,132 square foot Taco Bell restaurant operating under a 20-year net lease, commencing November 1, 2024, and expiring November 30, 2044. Located at 14189 W 135th St, Olathe, Kansas 66062, this property boasts a strong 5.20% cap rate and a current NOI of $165,000. The tenant, a well-established franchisee, is experiencing significant growth and has demonstrated a proven track record. The lease includes 8% rent bumps every five years, ensuring consistent income growth. The property is strategically situated within a Menard's-anchored shopping center, benefiting from high traffic counts exceeding 24,000 cars per day. This prime location is further enhanced by its proximity to other popular establishments, including Whataburger, Dutch Bros, Andy's Frozen Custard, Mazuma Credit Union, a Walmart Supercenter, Academy Sports, and Hobby Lobby. The surrounding area demonstrates strong demographics, with over 200,000 residents within a 5-mile radius and an average household income exceeding $141,000. The property is also conveniently located one mile from East Olathe High School, serving a student population of 2,100. This is a rare opportunity to acquire a high-quality, income-producing asset in a thriving retail corridor with a long-term, secure lease. The asking price is $3,173,000. The property was renovated in 2024. The lease includes four to five-year options.

Location Insight

City

Olathe

County

Johnson

State

Kansas

Longitude

-94.7503

Latitude

38.883

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments