12119 Johnson Drive DR Active Save Request In-Person Tour Request Virtual Tour
Shawnee,KS 66216
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2562826
Year Built 1967
Annual Tax Amount $25,524
Lot Size 0.579 Acres
Property Sub-Type Retail
Property Description
This fully occupied retail strip mall with an 7.76% Capitalization Rate (CAP Rate) presents an enticing investment opportunity. Here are the key details about this property: Prime Location: The property benefits from a high traffic count, which is excellent for attracting customers and ensuring visibility for the businesses within the strip mall. Owner Occupied with Long-Term Tenants: The fact that the building is owner-occupied and has five additional tenants on long-term leases is a positive sign for investors. Long-term leases provide stability and a steady income stream. Recent Upgrades: The property has seen recent upgrades, including a new roof, windows, flooring, lighting, garage doors and interior/exterior paint. These updates can help reduce maintenance costs and enhance the overall appeal of the strip mall. Versatile Spaces: The presence of three drive-in garages (each 10x10 in size), office spaces, a kitchen, and an unfinished basement provides versatility for various types of businesses. This versatility can attract a diverse range of tenants. Income Potential: The 8% CAP Rate is a key metric for investors, indicating a potentially favorable return on investment relative to the property's price. Low Vacancy Risk: Given the long-term leases in place, the risk of vacancies is reduced, providing a more stable income stream for investors.
Location
State KS
County Johnson
Zoning CN
Exterior
Exterior Feature Building Sign,Display Window
Utilities Available Service - 220v,Natural Gas Available,Water Available
Building
Story 1
Others
Acceptable Financing Cash,Conventional,1031 Exchange
Listing Terms Cash,Conventional,1031 Exchange