1740 1St St Kennett, MO 63857

Property Details for 1740 1St St

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.

Location Insight

City

Kennett

County

Dunklin

State

Missouri

Longitude

-90.0349

Latitude

36.2378