1615 Baltimore StKirksville, MO 63501

Property Details for 1615 Baltimore St

Year built

2010

Lot size

1.30 AC

Property size (Sq ft)

9,012 SF

Property type

Retail space

APN

13-05.0-15-002-02-03.001

APU

13050150020203001

Description

This exceptional investment opportunity presents a freestanding Dollar General store located at 1615 S Baltimore St, Kirksville, MO 63501. Built in 2015, this 3,333 square foot property sits on commercially zoned land and boasts a strong 7.50% cap rate, generating a net operating income (NOI) of $90,000. The property is currently 100% occupied under a triple-net (NNN) lease with Dollar General, offering minimal landlord responsibilities. The lease commenced October 21, 2010, and expires September 29, 2030, with a remaining term of approximately 5.9 years. The lease includes four (4) five (5) year renewal options, with rent bumps at each option period. The asking price is $1,200,000, translating to $36 per square foot. This prime location benefits from its proximity to Truman State University, A.T. Stills University, and Moberly Area Community College, ensuring a consistent customer base. Dollar General's early exercise of a lease option underscores the strength and profitability of this location. This is a rare opportunity to acquire a stable, high-performing retail investment in a desirable Missouri market. The land value also reflects a $36 per square foot price. This is an absolute net lease investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,483,243

  6.5%

  $2,292,224

  7%

  $2,128,494

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,770,490

  Geo Method

  $1,770,490

• Alternative Use

  Use

  Valuation

  Residential

  $1,933,577

  Hospitality

  $1,771,146

  Educational

  $1,473,573

  Medical

  $1,524,251

  Retail

  $2,292,224

Location Insight

City

Kirksville

County

Adair

State

Missouri

Latitude

40.1813

Longitude

-92.5712

CBSA code

28860

CBSA name

KIRKSVILLE, MO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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