3400 Ashland Ave Saint Joseph, MO 64506

This two-story, 1.69-acre retail property in St. Joseph, Missouri, boasts 86% occupancy and a 7% CAP rate, with potential to reach 9% or higher. Located in Ashland Square off Business I-29 (North Belt Highway), the 1981-built center features a recently renovated parking lot, roof, and HVAC systems. LED lighting upgrades ensure low maintenance costs. Most suites have been updated, and two major tenants (5,920 sq ft total) recently completed significant unit renovations. An on-site ATM generates substantial income. The average lease rate of $8.76 per square foot is significantly below the St. Joseph market average, offering substantial upside potential for increased rental income and CAP rate. Some leases are available at $9 per square foot or higher. The property presents a compelling investment opportunity with room for significant return improvement through lease adjustments and increased occupancy. Showings are available by appointment. The asking price is $1,590,000.