413 Hickory Street , Mound Valley, KS 67354(Labette County)

Kline Corner is a 0.35 acres +/- corner lot that consists of a mix of retail properties and/or opportunities. It is located at the southeast corner of 5th Street and Hickory in Mound Valley, Kansas. The subject property consists of the Post Office, a Car Wash, and a Laundry Mat. The Post Office building is 1200 square feet +/- that is very well constructed and has been maintained up to the USPS requirements that are required in the lease. When this building was built in 1982 the owner had the wisdom to construct it in a way that made the maintenance almost obsolete, which helps maximize the return on investment for the next owner. This property offers an investor several additional opportunities to increase their ROI. The first one is the Car Wash building. This building was built in 1930. Even though it is currently not working one could make some repairs and/or put in new machines and add another bay. The second would be the laundry mat building. This building was built in 1978 and is around 1400 square feet +/-. There are several things that could be done with this building to increase the bottom line, but that will be up to the next owner. The net capitalization rate on this property is 7%+/- based on the asking price.

For more information or to schedule an appointment call Kevin Redford.

Highlights:

- Post Office Building 1200 sq. ft.+/- with great rental income.

- Post Office is very low maintenance.

- Post Office lease is 5 years.

- Car Wash Building has a single bay with the potential for an additional bay.

- Laundry Mat Building could be renovated or used as storage.

- A 0.35 acres +/- corner lot in Mound Valley Kansas

- Taxes $1281/year

- Net Capitalization Rate 7%+/-