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6500 King Hill Ave 12,874 SF Retail Building Saint Joseph, MO 64504 $640,000 ($49.71/SF) 8.25% Cap Rate
Executive Summary
Stabilized Investment Opportunity - Leased to Dollar General on a Double Net-Lease featuring minimal landlord responsibilities with over 4.0 years remaining on the initial term and (1) 5-year renewal option in place with a 9% rental increase in year one of the option period
?Established Operating Location - The tenant has established a long-term presence at this location (25+ years), indicating the site's strategic importance within the local trade area
?Target Demographics - The asset is located within an ideal area with over 47,200 residents and an average household income of $69,600 within a 5-mile radius of the site
?Investment Grade Credit - Dollar General maintains an investment-grade credit rating (S&P: BBB) and operates more than 20,000 locations nationwide, demonstrating a proven operating platform and long-term financial strength
?Low Basis Asset - The property offers an investor the opportunity to acquire the asset at a significant discount to replacement cost, with a low acquisition basis of $49.71 PSF and below-market in-place rent of $4.10 PSF. The attractive basis provides downside protection while preserving long-term flexibility for redevelopment
?Neighboring Retail Tenants - Surrounded by tenants such as; McDonald's, Subway, Sonic, Taco John's, O'Reilly Auto Parts, Green Hills Grocery, Betty's Cafe, and more
?Established Operating Location - The tenant has established a long-term presence at this location (25+ years), indicating the site's strategic importance within the local trade area
?Target Demographics - The asset is located within an ideal area with over 47,200 residents and an average household income of $69,600 within a 5-mile radius of the site
?Investment Grade Credit - Dollar General maintains an investment-grade credit rating (S&P: BBB) and operates more than 20,000 locations nationwide, demonstrating a proven operating platform and long-term financial strength
?Low Basis Asset - The property offers an investor the opportunity to acquire the asset at a significant discount to replacement cost, with a low acquisition basis of $49.71 PSF and below-market in-place rent of $4.10 PSF. The attractive basis provides downside protection while preserving long-term flexibility for redevelopment
?Neighboring Retail Tenants - Surrounded by tenants such as; McDonald's, Subway, Sonic, Taco John's, O'Reilly Auto Parts, Green Hills Grocery, Betty's Cafe, and more
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
12,874 SF
Building Class
C
Year Built
1950
Price
$640,000
Price Per SF
$49.71
Cap Rate
8.25%
NOI
$52,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.23 AC
Zoning
CITY
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-9.0-31-004-001-149.000 | Improvements Assessment | $34,320 |
| Land Assessment | $6,400 | Total Assessment | $40,720 |
Property Taxes
Parcel Number
06-9.0-31-004-001-149.000
Land Assessment
$6,400
Improvements Assessment
$34,320
Total Assessment
$40,720
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