2450 9th St Salina, KS 67401-7602

Property Details for 2450 9th St

Year built

1974

Lot size

1.10 lot acres

Property size

2,860 SF

Property type

Banks

APN

087-35-0-10-01-012.00

APU

87350100101200

Description

This exceptional investment opportunity presents a 6,095 square foot retail bank building situated on a 1.11-acre lot at 2450 S 9th St, Salina, KS 67401. The property is currently 100% occupied by Sunflower Bank under a ground lease with nine years remaining until expiration (July 31, 2033), offering a passive investment strategy with zero landlord responsibilities. The asking price is $1,920,000, representing a 7.00% cap rate and a net operating income (NOI) of $134,090. Built in 1973, this single-story building benefits from a prime location within Salina's strongest retail node, an outlot to Mid State Plaza and diagonally across from Central Mall, generating a combined 5.4 million annual visits. This high-traffic area boasts numerous national retailers including Dick's Sporting Goods, Marshalls, Hobby Lobby, and Five Below. The property's strategic location at the crossroads of Interstates 70 and 135 provides excellent accessibility, serving a population exceeding 46,000 within a 60-mile radius. Sunflower Bank has occupied this location since 1973, demonstrating a long-standing commitment to the Salina market, further evidenced by their recent 10-year lease renewal and significant rent increase to the current market rate. The bank's substantial $62 million in deposits at this branch significantly surpasses the Kansas state median. This property offers a compelling combination of strong tenant occupancy, a favorable lease structure, and a high-performing location, making it an attractive investment opportunity.

Location Insight

City

Salina

County

Saline

State

Kansas

Longitude

-97.6136

Latitude

38.7964

CBSA code

41460

CBSA name

SALINA, KS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments