8144 Kellogg Dr Wichita, KS 67207-1810

Property Details for 8144 Kellogg Dr

Year built

1987

Construction

FRAME

Lot size

0.23 lot acres

Property size

1,506 SF

Property type

Retail space

APN

087-114-20-0-33-04-015.01

APU

87114200330401501

Description

This exceptional investment opportunity presents a brand-new, 1,506 square-foot auto shop in Wichita, Kansas, leased to a Budget franchisee. The property boasts a 10-year absolute triple-net (NNN) lease commencing January 1, 2024, and expiring December 31, 2033, with two five-year renewal options. Rent increases are structured with a 5% bump every five years and a 10% increase during each option period, ensuring strong future cash flow. Built in 2023, this high-quality building sits on a 0.82-acre lot in a prime retail corridor, directly across from Towne East Square Shopping Mall and surrounded by national retailers such as ALDI, At Home, and Burlington. The property enjoys excellent visibility and accessibility on East Kellogg Avenue (US Route 400), a major thoroughfare with over 45,900 vehicles passing daily. The strong demographics of the area, with 168,073 residents within a five-mile radius, further enhance the investment potential. The current Net Operating Income (NOI) is $70,000, representing a 6.50% cap rate on the asking price of $1,078,000 ($715.80 per square foot). This is a rare opportunity to acquire a secure, high-performing investment with significant long-term growth potential in a thriving Wichita market. The property's location and tenant strength make it an ideal addition to any diversified real estate portfolio. The lease terms and strong tenant credit rating provide a high degree of security and predictability for future income streams.