2530 Grand AveCarthage, MO 64836

Property Details for 2530 Grand Ave

Year built

2022

Lot size

0.92 AC

Property size (Sq ft)

4,168 SF

Property type

Retail space

APN

14-5.0-15-0-0-3.002

APU

145015003002

Description

This exceptional investment opportunity presents a 4,220 square foot, 100% occupied retail shopping center in Carthage, Missouri. The property, built in 2022, features a single-story building on a 0.9-acre lot at 2530 S Grand Ave, 64836. The center boasts two tenants: T-Mobile, operating under a 10-year NNN lease with a corporate guarantee and credit rating, and SalTea Sloth Nutrition, on a 5-year NNN lease. Both leases commenced April 1, 2022 (T-Mobile) and October 2023 (SalTea Sloth Nutrition), respectively, with a remaining lease term of 9.1 years for T-Mobile and 4.9 years for SalTea Sloth Nutrition. The lease structure includes 10% rent bumps every five years, extending through all option periods. Three, 5-year lease options are included for T-Mobile. The property offers a strong 7.00% cap rate with a Net Operating Income (NOI) of $140,400 and an asking price of $2,005,714. The property benefits from a high-traffic location on S Grand Ave, seeing over 11,088 cars per day, and proximity to US Hwy 71. The surrounding area features a strong retail presence, including major national brands, and boasts an average household income exceeding $62,100 within a 5-mile radius. The SalTea Sloth Nutrition space includes a drive-thru lane. This fee-simple offering is ideal for a 1031 exchange. The building also has a fresh 15-year roof warranty.

• CAP approach

  CAP return

  Valuation

  6%

  $1,200,647

  6.5%

  $1,108,289

  7%

  $1,029,126

• Comparable approach

  Method

  Valuation

  Relative Method

  $751,305

  Geo Method

  $751,305

• Alternative Use

  Use

  Valuation

  Residential

  $934,884

  Hospitality

  $856,348

  Educational

  $712,472

  Medical

  $736,975

  Retail

  $1,108,289

Location Insight

City

Carthage

County

Jasper

State

Missouri

Latitude

37.1447

Longitude

-94.3099

CBSA code

27900

CBSA name

JOPLIN, MO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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