Family Dollar | 600 W 33rd St N
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Family Dollar 600 W 33rd St N
9,180 SF Retail Building Wichita, KS 67204 $1,340,000 ($146/SF) 8% Cap Rate
Investment Highlights
- Dark Family Dollar with 8 years remaining on the lease
- Target Household Income; Ideal household income of $67,000 within a 1 mile, perfectly positions the long-term success of Family Dollar
- Conveniently located just 3.5 miles from Wichita State University, which has nearly 17,000 students
- Below replacement cost; opportunity to acquire the building below $146/sf, providing an investor a great redevelopment opportunity at a low basis
- Located approximately 1 mile south of I-235 and 1 mile west of I-135; sees a combined 117,148 VPD
Executive Summary
Quantum Real Estate Advisors, Inc. (“QREA”) has been retained to exclusively offer for sale a 9,180 square-foot single-tenant retail building located at 600 West 33rd Street N, Wichita, KS. The free-standing building, which was completed in 2022, is leased to Family Dollar on a 10-year net lease that features (6) 5-year options with rental increases every option period. The building sits on approximately 0.85 acres of land and is located on the corner of Arkansas Avenue and West 33rd Street North. The property is just 8 minutes from Wichita State University, which reported an enrollment of nearly 17,000 students in 2022, and 12 minutes from Downtown Wichita.
The site possesses excellent visibility from Arkansas Avenue and West 33rd Street North, which see a combined 3,626 VPD. The property is also located just 1 mile south of Interstate-235 which sees an additional 46,463 VPD. Additionally, the site is located in a highly populated, middle-class area, with more than 140,455 residents and an average household income of $65,300 within 5 miles from the site. Surrounded by national and local retail tenants that include: Aldi, Walmart, Starbucks, Dillons, Tacos Chepe, Savute’s Italian Ristorante, and more.
The site possesses excellent visibility from Arkansas Avenue and West 33rd Street North, which see a combined 3,626 VPD. The property is also located just 1 mile south of Interstate-235 which sees an additional 46,463 VPD. Additionally, the site is located in a highly populated, middle-class area, with more than 140,455 residents and an average household income of $65,300 within 5 miles from the site. Surrounded by national and local retail tenants that include: Aldi, Walmart, Starbucks, Dillons, Tacos Chepe, Savute’s Italian Ristorante, and more.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,180 SF
Building Class
C
Year Built
2022
Price
$1,340,000
Price Per SF
$146
Cap Rate
8%
NOI
$107,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.90 AC
Zoning
LC
Parking
34 Spaces (3.7 Spaces per 1,000 SF Leased)
Frontage
143 FT on W 33rd St N
Amenities
- 24 Hour Access
- Corner Lot
- Signage
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 099-32-0-13-03-036.00 | Improvements Assessment | $72,675 |
| Land Assessment | $22,250 | Total Assessment | $94,925 |
PROPERTY TAXES
Parcel Number
099-32-0-13-03-036.00
Land Assessment
$22,250
Improvements Assessment
$72,675
Total Assessment
$94,925
Contacts
-
Chad Firsel -
Zack Hilgendorf -
Nick Hilgendorf -
Quantum Real Estate Advisors, Inc
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Family Dollar | 600 W 33rd St N
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