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2301 N Baltimore St
Kirksville, MO 63501
Starbucks · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- New 2025 Upgraded Prototype Build w/Drive-Thru, No Early Termination Clause in Lease.
- Rent Increases During Initial Term Increase Avg Cap Rate to 6.62%, Four, 5-Year Option Periods with 7.5% Rent Increases Each.
- Excellent Traffic Visibility to Over 15,730 VPD at Signalized Corner.
- 15 Year Double Net Lease with 7.5% Rent Increases Every 5 Years, Double Net Lease Requires Minimal Landlord Responsibilities.
- Hobby Lobby Anchored Shopping Center Outparcel.
EXECUTIVE SUMMARY
Fortis Net Lease is pleased to present a prime investment in a new construction, upgraded prototype Starbucks located in Kirksville, MO. This 2,447 SF building is equipped with a 15 year double net lease providing 7.5% rent increases every 5 years including each of the four, 5-year option periods.
The subject property is an shadow anchored by a Hobby Lobby shopping center with additional national tenants. The prime, signalized corner lot provides excellent visibility to over 15,730 vehicles per day. N. Baltimore Street is a major retail corridor with national retailers including Walmart, Home Depot, Hobby Lobby, Aldi, Marshalls, Five Below and many more.
List price reflects a cap rate of 6.00% based on the NOI of $185,754. The 7.5% rent increases allow the cap rate to grow to average 6.62% over the initial term.
The subject property is an shadow anchored by a Hobby Lobby shopping center with additional national tenants. The prime, signalized corner lot provides excellent visibility to over 15,730 vehicles per day. N. Baltimore Street is a major retail corridor with national retailers including Walmart, Home Depot, Hobby Lobby, Aldi, Marshalls, Five Below and many more.
List price reflects a cap rate of 6.00% based on the NOI of $185,754. The 7.5% rent increases allow the cap rate to grow to average 6.62% over the initial term.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,447 SF
Building Class
C
Year Built
2025
Price
$4,280,082 CAD
Price Per SF
$1,749.11 CAD
Cap Rate
6%
NOI
$256,805 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.79 AC
Opportunity Zone
Yes
Zoning
C-1 - Commercial
Parking
9 Spaces (3.68 Spaces per 1,000 SF Leased)
Frontage
102’ on North Baltimore Street
PROPERTY TAXES
| Parcel Number | 08-08.0-33-003-01-03.001 | Improvements Assessment | $0 CAD |
| Land Assessment | $24,885 CAD | Total Assessment | $24,885 CAD |
PROPERTY TAXES
Parcel Number
08-08.0-33-003-01-03.001
Land Assessment
$24,885 CAD
Improvements Assessment
$0 CAD
Total Assessment
$24,885 CAD
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