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1740 1St St Kennett, MO 63857

For Sale
$8,165,000

126,118 SF Shopping Center, Value-Add Opportunity

Description

Added:
Dec 11, 2024
Days on Market:
368
Bootheel Plaza, a 126,118 square-foot shopping center in Kennett, Missouri, presents a compelling value-add investment opportunity. Located on 11.27 acres directly adjacent to a Walmart Supercenter, this property boasts over 2.2 million annual Walmart customer visits. The center features three single-story buildings and is anchored by Tractor Supply, Bealls Department Store, and Dollar Tree, catering to a strong blue-collar community. Currently 74% occupied with 17 tenants, including a mix of national, regional, and local businesses, the property offers significant upside potential. Six vacant suites provide the opportunity to increase the Net Operating Income (NOI) from $589,964 to over $950,000, boosting the pro-forma cap rate to 11.65%. The property benefits from excellent visibility and access, situated at a high-traffic intersection with over 25,000 vehicles passing daily. Kennett is the largest city and the only location of a Walmart within the 1,700 square-mile Bootheel region of Missouri, creating a substantial trade area. This multi-tenant retail property is offered free and clear of debt for $8,165,000, representing a compelling price per square foot compared to similar Walmart-adjacent retail centers. The current lease type is NNN, and tenants include a mix of franchisees and corporate guarantees. Rent bumps are included in the lease agreements.

Property Features for 1740 1St St

General Information

Property type
Lifestyle centers

Building Details

Buildings
3
Stories
1

HighLights

  • Walmart Shadow Anchor: Adjacent to a Walmart Supercenter with over 2.2 million annual visits; the only Walmart in the 1,700‑square‑mile Bootheel region of Missouri.
  • Excellent Visibility & Access: Located at a high‑traffic intersection with over 25,000 vehicles daily.
  • Diverse Tenancy: Mix of national, regional, and local tenants including restaurants, department stores, and auto/farm supply stores serving a blue‑collar community.
  • Value‑Add Opportunity: 74% occupied with six vacant suites offering significant NOI growth potential.
Property Profile Location Intelligence

Current Use by Public Records

Lifestyle centers

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Kennett
County
Dunklin
State
Missouri
Longitude
-90.03494445
Latitude
36.23775137

FAQs

What type of property is this?
Lifestyle center - 126,118 SF Shopping Center, Value-Add Opportunity
Where is this lifestyle center located?
The property is located at 1740 1St St Kennett, MO.
What is the asking price?
The asking price for this property is $8,165,000.
What are key features of this property?
This property features: Walmart Shadow Anchor: Adjacent to a Walmart Supercenter with over 2.2 million annual visits; the only Walmart in the 1,700-square-mile Bootheel region of Missouri.; Excellent Visibility & Access: Located at a high-traffic intersection with over 25,000 vehicles daily.; Diverse Tenancy: Mix of national, regional, and local tenants including restaurants, department stores, and auto/farm supply stores serving a blue-collar community.
More about this property
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