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689-699 S Monroe St 55,000 SF 100% Leased Retail Building Lebanon, MO 65536 $3,000,000 ($54.55/SF) 9.48% Cap Rate
Investment Highlights
- El Charro restaurant occupying 3,848 SF.
- ($246,000 annual plus El Charro $38,400 annual; $284,400, 9.5% cap)
- Seller leaseback at $20,500/month base plus El Charro $3,200/month.
- Positioned along established retail corridor.
Executive Summary
This 55,000 SF strip center is offered for sale at $3,000,000 and provides stable in-place income with contractual growth. El Charro occupies 3,848 SF and will remain, while the seller intends to execute a sale-leaseback on the remaining space at $20,500 per month base rent plus the income from the existing tenant, with a 3-year minimum term and 2% annual increases in base rent. The structure offers immediate cash flow with defined escalation and term stability.
Property Facts
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Retail
Building Size
55,000 SF
Building Class
C
Year Built/Renovated
1968/2008
Price
$3,000,000
Price Per SF
$54.55
Cap Rate
9.48%
NOI
$284,400
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.66
Lot Size
1.90 AC
Opportunity Zone
Yes
Zoning
C-1 - Commercial
Parking
90 Spaces (1.64 Spaces per 1,000 SF Leased)
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
1 of 21
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689-699 S Monroe St
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