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11981 S Strang Line Rd
Olathe, KS 66062
Retail Property For Sale
Investment Highlights
- Prime Location in Regional Power Center Anchored by AMC Theaters and Target
- Accessibility - Immediate access to I-35
- NNN with Strong Corporate Guaranty
- Over 235k people live within a five-mile radius
Executive Summary
Clemons Real Estate is pleased to exclusively market for sale a single tenant net leased Black Bear Diner property in Olathe, Kansas, within the Kansas City MSA. Black Bear Diner has been operating since 2019 and the current lease runs through 2030 with three 5-year renewal options. There are 1.1% rent escalations for every option period. Additionally, the lease is absolute trip net presenting no landlord responsibility.
Positioned in a high-growth, amenity-rich trade area with strong demographics and immediate access to I-35, this property presents a compelling opportunity for investors seeking a stable near-term income with long-term upside. Whether held as a continued net lease investment or converted to an owner-user strategy at lease expiration, the property offers flexibility and value in a highly desirable Johnson County shopping center.
Positioned in a high-growth, amenity-rich trade area with strong demographics and immediate access to I-35, this property presents a compelling opportunity for investors seeking a stable near-term income with long-term upside. Whether held as a continued net lease investment or converted to an owner-user strategy at lease expiration, the property offers flexibility and value in a highly desirable Johnson County shopping center.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,662 SF
Building Class
B
Year Built/Renovated
1998/2019
Price
$2,850,000
Price Per SF
$371.97
Cap Rate
6.37%
NOI
$181,545
Tenancy
Single
Building Height
1 Story
Slab To Slab
11’
Building FAR
0.40
Lot Size
0.44 AC
Zoning
CP-2
Frontage
132’ on Strang Line Rd
Amenities
- Restaurant
- Signage
- Tenant Controlled HVAC
- Air Conditioning
Property Taxes
| Parcel Number | DP54370000-0004 | Improvements Assessment | $384,950 |
| Land Assessment | $113,128 | Total Assessment | $498,078 |
Property Taxes
Parcel Number
DP54370000-0004
Land Assessment
$113,128
Improvements Assessment
$384,950
Total Assessment
$498,078
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