1560 Hamilton Cir, Olathe, KS 66061-5377

Property Details for 1560 Hamilton Cir

Year built

1995

Lot size

0.89 lot acres

Property type

Drive through restaurants

APN

DP1670000A 0002A

APU

DP1670000A0002A

Description

This exceptional investment opportunity presents a 2,938 square foot Wendy's restaurant located at 1560 S Hamilton Cir, Olathe, KS 66061. The property sits on a 0.89-acre lot with 36 parking spaces and boasts excellent visibility from I-35, averaging 71,940 vehicles per day. The property is situated in a high-traffic area with proximity to Olathe Medical Center, a Home Depot and Target-anchored shopping center, Olathe South High School, and the Garmin headquarters. The tenant, Wendy's, operates under a corporate-guaranteed, absolute NNN ground lease with a remaining term of approximately 8.1 years, expiring December 31, 2032. The lease includes a 10% rent increase on January 1, 2028. The current annual net operating income (NOI) is $61,200, representing a 5.00% cap rate on the asking price of $1,224,000. Built in 1995, this Class B property offers a passive investment opportunity with minimal landlord responsibilities. The tenant's strong sales performance in 2022 resulted in a sub-5% rent-to-sales ratio, indicating potential for future rent growth. The surrounding area is densely populated, with over 72,700 residents within a 3-mile radius and an average household income exceeding $107,800. This location benefits from its proximity to several large industrial parks and other retail establishments. The ground lease also expires December 31, 2032. This is a rare opportunity to acquire a well-located, high-performing Wendy's restaurant with significant upside potential.

Location Insight

City

Olathe

County

Johnson

State

Kansas

Longitude

-94.8136

Latitude

38.8581

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments