20015 153rd St Olathe, KS 66062-9599

Property Details for 20015 153rd St

Year built

2004

Construction

FRAME

Lot size

0.65 lot acres

Property size

4,272 SF

Zone code

CP-3

Property type

Commercial real estate

APN

DP70820000 0010A

APU

DP708200000010A

Description

This exceptional investment opportunity presents a fee-simple, 2,127 square-foot Jiffy Lube located in Olathe, Kansas (66062), at 20015 W 153rd St. The property sits on a 0.65-acre lot and boasts a 100% occupancy rate under an absolute NNN lease with a corporate guarantee from Team Car Care, a national leader with over 500 locations. The lease, originally commenced on November 11, 2004, has a remaining term of five years, with three, five-year renewal options and a 10% rent increase every five years. The current lease expires November 30, 2029. The property generates a Net Operating Income (NOI) of $125,780, resulting in a 7.25% cap rate at an asking price of $1,735,000. Built in 2004, this single-story building benefits from a high-traffic location, experiencing approximately 31,300 vehicles per day on nearby S Highway 169. The property enjoys strong retail synergy with nearby national brands including Target, The Home Depot, Red Robin, Phillips 66, IHOP, and Discount Tire. This top-performing Jiffy Lube location (ranked #1 in Kansas based on foot traffic) offers a recession-resistant investment with significant upside potential due to its strong tenant, lease terms, and prime location within a growing area (2.3% annual population growth within a one-mile radius). The property's location in the Kansas City MSA provides excellent access to a large consumer base.