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Listed by Haley Epps • Compass Realty Group
$ 1,900,000
Est. payment /mo
Active
12119 Johnson Drive DR Shawnee, KS 66216
0.58 Acres Lot
UPDATED:
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
Acres 0.5794766
Property Sub-Type Retail
Source hmls
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
Interior
Interior Features Storage, Private Restroom
Fireplace N
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
