REIT Sale | Former Family Dollar & Dollar Tree | 2021 Built | 1.28 Acres | Wichita MSA

Highlights:

• 10,574 SF Freestanding Value-Add Retail Available at Substantial Discount Below Replacement Cost
• Surrounding Traffic Generators: Dollar General, Peabody Sausage Co., High School, Police Dept, and more
• 4,576 VPD Traffic Counts on US-50 | Near Downtown and 40-mi to Wichita, KS
• Zoned B-2, General Business District with a Variety of Commercial Uses
• Attractive Demographics with $71,755 Average Household Income (10-mile)
• Absolute $1 Auction – NO RESERVE!

Description:

Ri Marketplace Online Auction October 27th-29th, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2745/reit-sale-former-family-dollar-dollar-tree-2021-built-1.28-acres-wichita-msa?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2745

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 309 E 9th Street in Peabody, Kansas 66866 (the “Property”). Formerly occupied by Family Dollar–Dollar Tree, the Property is being offered significantly below replacement cost, creating an excellent opportunity for owner-users or investors to acquire a highly visible, strategically positioned asset with highway frontage at a compelling basis. FIRST BID MEETS RESERVE!

Built in 2021, the Property consists of a ±10,574-square-foot single-story free-standing retail building situated on ±55,946 square feet (±1.28 acres) with 38 surface parking spaces. Constructed with a metal-on-steel frame, the building features 12-foot clear heights and a fully built-out standard retail layout. The site is located on a hard corner with three road frontages, offering ±297 feet along E 9th Street, ±125 feet along N Maple Street, and ±237 feet along US Hwy 50, which sees approximately ±4,576 vehicles per day (VPD). Access is provided via one point of ingress/egress, reinforcing visibility and convenience. Previously operated as a dual-store format, the Property was leased to Family Dollar–Dollar Tree on a triple-net (NNN) basis. The Property presents a value-add opportunity through lease-up at long-term market rates, with CoStar estimating rents in the range of $6-7/SF NNN. Zoned B2 (General Business District), the Property supports a broad variety of commercial uses, enhancing its appeal to both owner-users and investors seeking a highly visible, strategically positioned asset at a compelling basis.

The Property is located in Peabody, Kansas, within Marion County, and benefits from prominent visibility along U.S. Highway 50, a key east–west arterial linking Peabody with Newton (±15 miles west), Emporia (±45 miles east), and Wichita (±40 miles southwest). This corridor supports both local traffic and regional pass-through demand, making it an important commercial spine for retail and services in central Kansas. Surrounding retailers and service providers include Dollar General, Casey’s General Store, Peabody Sausage Co., and local restaurants, along with schools, churches, and civic institutions that generate consistent daily traffic. The Property is less than ±1 mile from Downtown Peabody, providing convenient access to community amenities, while its positioning along U.S. Hwy 50 ensures direct connectivity to I-135 and I-35, enhancing regional access to Wichita and the greater Kansas City corridor. Marion County is home to nearly 12,000 residents, while the Property benefits from a population of more than 3,000 and an average household income of ±$71,755 within a 10-mile radius. This trade area sustains reliable demand for retail, restaurant, and essential service users. Peabody’s small-town character, combined with its strategic highway frontage and proximity to Wichita, makes the Property an attractive opportunity for both owner-users and investors seeking a high-visibility, cost-effective location in central Kansas.


Richard Shawn Terrel
c/o Fisher Auction Company Inc.
License: 00216208
The platform fee for this transaction is the greater of 5.00% or a minimum of $20,000.

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