826 Northstar Ct Tonganoxie, KS 66086

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.