1610 Military AveBaxter Springs, KS 66713

Property Details for 1610 Military Ave

Year built

2021

Lot size

0.97 AC

Property size (Sq ft)

11,210 SF

Property type

Retail space

APN

221-01-0-30-29-002.00-0

APU

2210103029002000

Description

This exceptional investment opportunity presents a 10,611 square foot, 2021-built Family Dollar and Dollar Tree store in Baxter Springs, Kansas. Located on a 0.98-acre lot at 1610 Military Ave (zip code 66713), this property boasts a strong 8.00% cap rate and a Net Net Net (NNN) lease with 6.5 years remaining until the lease expiration date of May 30, 2031. The lease commenced on May 30, 2021, and includes built-in rent increases of $0.50 per square foot every five years throughout the option periods. The asking price is $1,307,000, translating to a price per square foot of $123.17. The property generates a Net Operating Income (NOI) of $104,500. The tenant, Dollar Tree/Family Dollar (a publicly traded Fortune 500 company with an S&P investment-grade credit rating of BBB), is responsible for all operating expenses including property taxes, insurance, HVAC, and utilities. Landlord responsibilities are limited to roof and structure maintenance and parking lot replacement. The strategic location, just 20 minutes from Joplin, Missouri (the 5th largest MSA in Missouri with a population of 210,077 and home to Missouri Southern State University), and one mile from a large manufacturing plant, ensures a stable and growing customer base. This presents a compelling investment opportunity with a high-quality tenant and a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,436,479

  6.5%

  $1,325,980

  7%

  $1,231,267

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,020,665

  Geo Method

  $2,020,665

• Alternative Use

  Use

  Valuation

  Residential

  $1,118,514

  Hospitality

  $1,024,553

  Educational

  $852,416

  Medical

  $881,732

  Retail

  $1,325,980

Location Insight

City

Baxter Springs

County

Cherokee

State

Kansas

Latitude

37.0189

Longitude

-94.7353

Property Tax & Assessments

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