1201 Commerce Dr
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1201 Commerce Dr
10,000 SF Retail Building Wamego, KS 66547 £1,683,901 (£168/SF) 7.50% Net Initial Yield
Investment Highlights
- 2024 build-to-suit construction for Dollar Tree
- The subject property comes with a 20-year transferable roof warranty
- Five, 5-year renewal options, all of which include attractive rental increases
- ±10 year NN+ lease with minimal landlord responsibility
- Concrete parking lot which allows for little-to-no maintenance
- Corporately guaranteed lease by Dollar Tree Store, Inc.
Executive Summary
Wamego is located approximately ±44 miles from Topeka (3rd largest MSA in KS)
Average household income of $110,089 annually
Traffic counts on US Highway 24 exceed ±12,400 vehicles daily
Dollar Tree acquired Family Dollar in 2015 and they are considered to be the second largest discount retailer in the United States with more than 16,000 locations
Dollar Tree is one of the few retailers that thrived through the COVID pandemic and witnessed a sharp increase in same-store sales/profitability
Investment Grade Credit Tenant – S&P Rated BBB
Average household income of $110,089 annually
Traffic counts on US Highway 24 exceed ±12,400 vehicles daily
Dollar Tree acquired Family Dollar in 2015 and they are considered to be the second largest discount retailer in the United States with more than 16,000 locations
Dollar Tree is one of the few retailers that thrived through the COVID pandemic and witnessed a sharp increase in same-store sales/profitability
Investment Grade Credit Tenant – S&P Rated BBB
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
10,000 SF
Building Class
B
Year Built
2024
Price
£1,683,901
Price Per SF
£168
Net Initial Yield
7.50%
NOI
£126,293
Tenancy
Single
Number of Floors
1
Building FAR
0.29
Lot Size
0.80 AC
Zoning
ET
Frontage
450 ft on U.S. 24
PROPERTY TAXES
| Parcel Number | 293-05-0-10-04-002.00-0 | Improvements Assessment | £0 |
| Land Assessment | £7 | Total Assessment | £7 |
PROPERTY TAXES
Parcel Number
293-05-0-10-04-002.00-0
Land Assessment
£7
Improvements Assessment
£0
Total Assessment
£7
Contacts
-
Scotty Latimer -
Brett Baumgartner -
Josh Bishop -
Matthews Real Estate Investment Services
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1201 Commerce Dr
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