3242 S Stewart Ave 6,470 SF Retail Building Springfield, MO 65804 $2,690,000 ($415.77/SF) 6.73% Cap Rate
INVESTMENT HIGHLIGHTS
- Tenant funding Signiant renovation improvements both interior & exterior showing their long-term commitment to the site.
- 5 year initial term with 2% annual escalations.
- Landlord responsible for roof and foundation.
- Operator & Guarantor owns 6 other K-Pot locations.
- Two 5 year renewal options with 5% initial increase and continued 2% annual escalations thereafter.
- Tenant responsible for all other repairs and maintenance.
EXECUTIVE SUMMARY
SVN is please to present this net leased restaurant investment for sale. KPot Korean BBQ & Hot Pot is finalizing extensive renovations after signing a 5-year lease in 2024. K-Pot is a growing concept with over 160 locations, including dozens currently under development. The site is conveniently located near the largest concentration of Springfield's high trac retail, including less than 1/2 mile from Simon's Battlefield Mall with 1.2 million square feet and over 12 million visitors per year.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,470 SF
Building Class
B
Year Built
1993
Price
$2,690,000
Price Per SF
$415.77
Cap Rate
6.73%
NOI
$181,160
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
1.21 AC
Zoning
GR - General Retail
Parking
84 Spaces (10 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 881905303189 | Improvements Assessment | $220,800 |
| Land Assessment | $188,580 | Total Assessment | $409,380 |
