826 Northstar Ct Tonganoxie, KS 66086-8915

Property Details for 826 Northstar Ct

Year built

2003

Lot size

1.75 lot acres

Property size

15,393 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

192-04-0-30-03-001.00-0

APU

1920403003001000

Description

This 15,200-square-foot shopping center in Tonganoxie, Kansas, presents a compelling value-add opportunity. Located on Highway 24, the main commercial corridor, this single-story, 2003-built property sits on a 1.75-acre lot and offers excellent visibility. Currently 40% occupied, with Subway and H&R Block as tenants, the center boasts 9,100 square feet of vacant space. The existing tenants provide a stable service-based tenancy appealing to the local market. A significant upside exists through lease-up of the vacant space, potentially increasing net operating income to $143,669 based on a projected $8.00 per square foot (NNN) lease for the former Dollar General space. The large vacant unit also presents an owner-user opportunity. Current in-place rent averages $11.00 per square foot (NNN), while market rates range from $12.00 to $15.00 per square foot (NNN), indicating substantial long-term growth potential. The property is offered at $1,800,000, representing a below-replacement-cost acquisition in the current construction market. The weighted average lease term is 3.7 years. This property is an ideal investment for those seeking a value-add opportunity with significant upside potential in a stable market. The address is 826 Northstar Ct, Tonganoxie, KS 66086.

Location Insight

City

Tonganoxie

County

Leavenworth

State

Kansas

Longitude

-95.0849

Latitude

39.1169

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments