Investment Summary
Price | $3,050,000 |
Cap Rate | |
NOI | |
Lease Term | 5.5 Years with 4.5 Years Remaining |
Lease Type | Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
Rental Increases | None |
Year Built | 2000 |
Building Size | 46,703 SF |
Lot Size | 4.83 Acres (210,395 SF) |
Status | Sold |
Lead Brokers | Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
ABSOLUTE NNN LEASE TO STRONG GROCERY TENANT
» Absolute NNN lease with four (4) five (5)-year option periods
» NNN lease provides an ideal passive investment for an out-of-area investor
» Price Cutter is a member of Associated Whole Grocer (“AWG”), the largest cooperative food wholesaler to independently owned supermarkets and grocery stores in the U.S.
» Pharmacies are located in 26 stores and Starbucks with free Wi-Fi are located within 14 Price Cutter locations
EASILY-ACCESSIBLE LOCATION ALONG PROMINENT MONETT RETAIL/COMMUTER CORRIDOR
» High visibility location on East Cleveland Avenue, a prominent Monett retail/ commuter corridor connecting U.S. Route 60 to State Route 37
» Beneficial proximity to high-traffic Monett thoroughfares, including U.S. Route 60 (10,516 AADT)
» 49,284 residents within a fifteen-mile radius of the location
» Projected 11 percent average annual household income increase within five miles of the site in the next five years, poising Monett and Price Cutter for significant concurrent growth
» Population increases are projected within five-mile, 10-mile, and 15-mile radii over the next five years
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by several high-profile national retailers, including Walmart Supercenter, Lowe’s, Dollar General, Sonic Drive-In, Little Caesars, Dairy Queen, and many more
» Centrally located in the Monett R-I School District (five schools, combined 2,429 students)
» New $42 million Cox Monett Hospital (25 beds, 349 employees) opened 1.5 miles from the site on January 22, 2021
» Beneficial proximity to popular Monett recreational hubs, including Monett Motor Speedway and Windmill Ridge Golf Course
» Excellent location in a major commuter corridor, with close proximity to several high density single-family developments
Property Description
SOLD
The property is strategically located on East Cleveland Avenue, a prominent Monett retail/commuter corridor connecting U.S. Route 60 to State Route 37. The site also resides near other high-traffic Monett thoroughfares, including U.S. Route 60 (10,516 AADT). There are 49,284 residents living within a fifteen-mile radius of the location. The property is primed to grow along with the surrounding area, with a projected 11 percent average annual household income increase within five miles of the site in the next five years. Population increases are also projected within five-mile, 10-mile, and 15-mile radii over the next five years.
Centrally located in Monett, the property is close to important community amenities, large employers, and popular recreational areas. The site is surrounded by several high-profile national retailers, including Walmart Supercenter, Lowe’s, Dollar General, Sonic Drive-In, Little Caesars, Dairy Queen, and many more. The property is located in the heart of the Monett R-I School District, which features a combined five schools and 2,429 students. The property maintains a beneficial proximity 1.5 miles from the new $42 million Cox Monett Hospital (25 beds, 349 employees, opened January 22, 2021). Additionally, the site also maintains a beneficial proximity to popular Monett recreational hubs, including Monett Motor Speedway and Windmill Ridge Golf Course. The site features an excellent location in a commuter corridor, with close proximity to several high-density single-family developments.