Kirksville Commons – Hobby Lobby, Marshalls, PetSmart Center

CONTACT US REGARDING THIS LISTING

Bryan Bender

Partner & Managing Director

Kyle Carson

Senior Advisor

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PROPERTY ADDRESS

2301 N BALTIMORE ST, KIRKSVILLE, MO 63501

PROPERTY INFORMATION

Price:
$10,718,893
Cap Rate:
7.00%
Term Remaining:
14 Years
Year Built:
2018
Status:
Available

INVESTMENT HIGHLIGHTS

  • Brand New "Junior" Box Retail Center | Hobby Lobby Anchored
  • Tenant Makeup: Hobby Lobby, Marshalls, PetSmart, & Shoe Sensation |
  • Corporate Leases
  • Long Term Double Net (NN) Leases, Minimal Responsibilities
  • 5 Mile Population Exceeds 19,000 | $48k+ Average Income
  • $200 Million in Consumer Spending within 10 Miles
  • Average Daily Traffic Counts of over 20,685!
  • Adjacent To Walmart, Home Depot, Aldi, & Brand New Menards
  • Kirksville is Home to Truman State University | 6,500 Students

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present Kirkville Commons, a brand new 100% occupied, “Junior” box Hobby Lobby anchored retail center located in Kirksville, MO. Kirkville Commons is comprised of 100,000 SF made up of four national tenants in, Hobby Lobby, Petsmart, Marshalls, and Shoe Sensation. Hobby Lobby operates on a 15 yr. Double Net (NN) lease; Petsmart and Marshalls operate on 10 Yr. NN leases, while Shoe Sensation signed a 6 Yr. NN Lease. Given the nature of the leases there are minimal landlord responsibilities, as the landlord is only responsible for the capital repair and replacement to the roof and structure, etc. Rent Commencement for all non-operating tenants will begin early to mid-fall 2018.

Kirksville Commons will be highly visible as it is strategically positioned on the main retail thoroughfare N. Baltimore St and Hwy 6 (20,685 ADTC), within Kirksville, MO. While benefiting from being adjacent to a brand new Hobby Lobby, other nearby national retailers include Walmart, Menards (2018 Built) Home Depot, Aldi, Mcdonalds, Etc. The population within 5 miles exceeds 19,000 with the median household income within one mile being greater than $48,000. Kirksville is home to Truman State University, which has over 6,500 year round students. Expected consumer retail spending within 10 miles in excess of $200 Million. **Purchaser has option to buy an additional 2.5 Acres of developable land to the north of the shopping center.