1800 Baltimore St, Kirksville, MO 63501
40,518 SF | 100% Leased | Retail Building | Kirksville, MO 63501 | $3,080,907 ($76/SF) | 7.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,080,907
- Property Type
-
Retail
- Square Feet
- 40,518 SF
- Price / Square Foot
- $76
Listing Contacts
Jake Klamen
Verified Profile
- Property Info
Property Overview
KLAMEN COMMERCIAL ADVISORS, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in 1800 N Baltimore (“The Property”) – a 100% leased, Two Tenant retail shopping center consisting of 40,518 square feet situated on 3.7 acres of land in Kirksville, Missouri. The property is fully leased to two national credit tenants consisting of Harbor Freight Tools and Ollie’s Bargain Outlet. The asset provides investors stability and staggered lease expirations with Harbor Freight having lease term until 4/30/2028 and Ollie's through 7/31/2033. The asset is located near the Kraft Heinz manufacturing facility which is a major employer in Kirksville. In 2022, the City of Kirksville entered into an agreement with Kraft- Heintz to finance a $33.5M expansion. This made the Kirksville facility the very first of Kraft-Heinz’s 29 plants in North America to receive digital analysis production. The asset has been well maintained and In 2022, the property received a brand new parking lot and new LED lighting. These capital improvements substantially reduce any near-term capital expenditures for the new owner. The property offers investors the opportunity to acquire a well-positioned
shopping center with limited junior box competition in the market at a price well below replacement cost.
shopping center with limited junior box competition in the market at a price well below replacement cost.
Property Details
- Class
- C
- Year Built/Renovated
- 1977/2023
- Stories
- 1
- Lot Size (sq. ft)
- 161,172 SF
Highlights
- Excellent frontage, visibility, and and is surrounded
- Access to N Baltimore Street
- Positioned in Kirksville’s primary retail corridor
- Long-term major tenants
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