850 E Kearney St | Springfield, MO 65803
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850 E Kearney St
Springfield, MO 65803
Terrabis Dispensary · Retail Property For Sale
Investment Highlights
- Long Term, Absolute NNN Lease with Annual Rental Increases
- Limited License Recreational & Medical Use State
- Highly Diverse Booming Economy - $26.6 Billion Total GDP
- Corporate Lease with Strong Growing Multi-State Operator
- Proximity to Bass Pro Shops Corporate Headquarters
- College Campus Town
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee-simple interest in the Terrabis cannabis dispensary located in Springfield, MO (“the Property”). The Property consists of a +/- 4,004 square foot freestanding retail building on 0.59-acre parcel of land with ample parking and a drive-thru. Terrabis is operating under a 15-year net lease with over 13 years of base lease term remaining and four (4), five (5)-year extension options. Additionally, the lease features zero landlord responsibilities, making this a highly passive net lease investment opportunity. See Lease Abstract for full details.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
4,004 SF
Building Class
B
Year Built
1984
Price
$1,802,000
Price Per SF
$450
Cap Rate
8.25%
NOI
$148,665
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
0.59 AC
Zoning
HC
PROPERTY TAXES
| Parcel Number | 13-12-106-025 | Improvements Assessment | $50,180 |
| Land Assessment | $40,100 | Total Assessment | $90,280 |
PROPERTY TAXES
Parcel Number
13-12-106-025
Land Assessment
$40,100
Improvements Assessment
$50,180
Total Assessment
$90,280
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