2323 Amidon Ave Wichita, KS 67204-5629

Property Details for 2323 Amidon Ave

Year built

1966

Lot size

1.80 lot acres

Property size

20,910 SF

Property type

Grocery and convenience stores

APN

087-123-06-0-34-01-016.06

APU

87123060340101606

Description

This exceptional investment opportunity presents a fee-simple ownership of a ±20,910 square foot Aldi grocery store located at 2323 N Amidon Ave, Wichita, KS 67204. The property sits on a 1.8-acre lot and boasts a single-story building constructed in 1966, extensively renovated in 2018. Currently operating under a 15-year Net Net lease (NN) with Aldi, a dominant retailer with over 2,000 US stores, the lease commenced May 1, 2018, and has approximately 8.5 years remaining, with 3 and 5-year renewal options and 10% rent increases every five years. The property generates a strong Net Operating Income (NOI) of $150,789, representing a 5.25% cap rate on the asking price of $2,872,200. This translates to a price per square foot of $137.36, significantly below replacement cost. The location benefits from high traffic counts on N Amidon Ave (approximately 16,000 vehicles per day), proximity to Wichita State University (less than 4 miles, with over 23,000 students), and a strong retail corridor including a major shopping center with over 100,000 monthly visits. Monthly visits to the Aldi location average approximately 143,219, according to AlphaMaps. Wichita's robust labor market, with 6,300 jobs added in July compared to the previous year, further enhances the investment's appeal. This is a rare opportunity to acquire a well-performing, established retail asset with a strong tenant and significant upside potential.

Location Insight

City

Wichita

County

Sedgwick

State

Kansas

Longitude

-97.3637

Latitude

37.7255

CBSA code

48620

CBSA name

WICHITA, KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments