2850 State Ave - Drug Store FOR SALE


Kansas City, KS 66102- Kensington
$4,181,160 USD
619-297-0055
2850 State Ave, Kansas City, KS for Sale
$4,181,160 USD
Drug Store - FOR SALE
1/3
null | 10% Cap Rate

2850 State Ave
Kansas City, KS 66102
Kensington


HIGHLIGHTS

  • 3 Mi W of the Fairfax District (527-acre industrial park 10K employees) which is anchored by Kellogg’s and General Motors Assembly Manufacturing Plant
  • Midtown Station-New Development UC 1 Mi W (1.5k units, 200K sf commercial space, a hotel, and conference center.
  • The property has 4.2 million square feet of retail space and over 45 million square feet of industrial space within 4 miles.
  • 2.5 miles south of the property, the BNSF Railway Argentine Yard covers 780 acres and is one of the largest and busiest rail yards in the US.
  • This lease calls for 5% rental increases every 5 years throughout the first four option periods.
  • Only freestanding Walgreens property for 5 miles, serving over 140,000 residents.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 2850 State Ave, Kansas City, KS 66102 ("The Property"). Walgreens has been operating at the site for over 19 years and has 4 years of firm term remaining before the 12 (5-Year) option periods. Walgreens operates on an absolute triple net lease, which provides for no landlord obligations whatsoever and calls for rental increases every five years for the first four options. As the only freestanding Walgreens within a 5-mile radius, the Property serves 140,000+ residents in the Kansas City MSA (2.2M total population), ensuring consistent demand and long-term stability. Additionally, the Property is situated within the State Avenue Corridor Redevelopment Project and located 1 mile east of Midtown Station, a major mixed-use redevelopment featuring 1,500 new residences, 200,000 SF of commercial space, a hotel, and an innovation hub. The Property benefits from a strong retail and industrial presence, with 4.2M SF of retail and over 45M SF of industrial space within 4 miles. The BNSF Railway Argentine Yard, 2.5 miles south, covers 780 acres and is one of the largest and busiest rail yards in the United States. BNSF recently announced a $3.8 billion capital investment plan for 2025. The Property is strategically located 3 miles from the Fairfax District, a 527-acre industrial hub with 10,000+ employees, anchored by Kellogg’s (producing 85% of the world’s Cheez-Its) and General Motors Assembly Plant, where GM is investing approximately $390 million to add production of the new Chevrolet Bolt EV. Listed in conjunction with Brian Brockman, Bang Realty - Kansas Inc, 513-898-1551, wg@bangrealty.com, KS DRE Lic. 239819.

FOR SALE DETAILS

PRICE

$4,181,160 USD

PRICE/SF

$284 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Near Midtown Station Development (1.5K Units)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

KC3

APN/PARCEL ID

077435

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.