501 Belt HwySaint Joseph, MO 64506

Property Details for 501 Belt Hwy

Year built

2011

Lot size

1.08 AC

Property size (Sq ft)

2,502 SF

Zone code

CITY

Property type

Turn key restaurants

APN

06-1.0-11-002-000-020.000

APU

61011002000020000

Description

This exceptional investment opportunity presents a two-story, multi-tenant shopping center ideally situated at 501 S Belt Hwy in St. Joseph, Missouri, within Buchanan County (zip code 64506). Boasting 6,168 square feet on a 6,168 square foot lot, this C-3 zoned property offers significant potential for growth. Built in 1978, the center currently enjoys an 83.3% occupancy rate across its multiple tenants under a gross lease structure. The remaining lease term on the current tenants is one year. This property presents a compelling opportunity for an investor seeking a well-located retail asset with immediate income generation. The property's location on a main highway ensures high visibility and accessibility for tenants and customers. The potential for expansion exists, given the possibility of packaging this property with adjoining lots or other buildings within the plaza. This is a rare chance to acquire a well-established retail center in a thriving Missouri market. The property's strong existing tenancy and prime location make it an attractive investment for both seasoned and emerging investors. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $689,422

  6.5%

  $636,390

  7%

  $590,933

• Comparable approach

  Method

  Valuation

  Relative Method

  $451,000

  Geo Method

  $451,000

• Alternative Use

  Use

  Valuation

  Residential

  $536,819

  Hospitality

  $491,723

  Educational

  $409,108

  Medical

  $423,178

  Retail

  $636,390

Location Insight

City

Saint Joseph

County

Buchanan

State

Missouri

Latitude

39.7706

Longitude

-94.803

CBSA code

41140

CBSA name

ST. JOSEPH, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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