3302 S Belt Hwy
Saint Joseph, MO 64503
St. Joseph Plaza · Retail Property For Sale

The Dumes Falk Group of Marcus & Millichap is please to bring to market St. Joseph Plaza, a Walmart shadow anchored strip center comprised of 24,229-square feet in St. Joseph, Missouri. St. Joseph is the eighth largest city in the state and the county seat of Buchanan County, located approximately 50-miles north of downtown Kansas City, Missouri – the largest city in Missouri. The center was constructed in 2003 and situated on roughly 3.11 acres along US-169. St. Joseph Plaza is currently 73 percent leased and anchored by St. Joseph Veteran Affairs Clinic. The VA Clinic signed a ten-year lease in 2012, maintains 41 percent of the GLA and represents 73 percent of the gross income. All of the tenants except for the VA Clinic are operating under triple-net leases. Additionally, there are two vacant units totaling 6,450-square feet of realizable vacancy upside. Leasing up these vacant units at market rents under triple-net leases could potentially add an additional $65,000 to the NOI. The tenant base consists of a complimentary mix of tenants that supplies the city’s consumers with a wide range of products and services to meet the needs of its residents. A number of these needs are internet resistant and include a veteran affairs clinic, veterinary clinic, financial services, pet supplies, liquidation center and electronic entertainment. The city of St. Joseph is the eighth largest city in the state and the third largest in Northwest Missouri and is best known as the starting point of the Pony Express. The St. Joseph MSA includes four counties with a population of nearly 130,000 residents. Mosaic Life Care, the largest employer in the city was recently named one of the nation’s 100 Top Hospitals by Truven Health Analytics. Triumph foods is the second largest employer and is recognized as a top processor and exporter of premium, fresh pork products worldwide and is expanding further with its 50% ownership of Daily’s Premium Meats. Surrounding St. Joseph Plaza are more than 51,500 employees within three-miles and nearly 100,000 in five-miles. There are nearly 40,000 residents within three-miles of the plaza and over 77,000 in five-miles. St. Joseph Plaza benefits from being positioned off of Interstate-29 along US-169 (Southern Belt Highway), a four-lane US highway with a center turn lane into the center. Along with the Walmart Supercenter, additional traffic drivers within the corridor include retail, education, medical and some industrial which all pull consumers to or around St. Joseph Plaza. The property is just over two-miles away from Missouri Western State University with more than 5,000 students and four-miles away from Central High School with 1,700 students. An internet-resistant tenant mix with strong historical occupancy, realizable vacancy upside and a prominent location within a growing market provides St. Joseph Plaza the ability to remain as an integral part of the community and should continue to serve as an invaluable shopping destination for residents and travelers alike.