1208 Highway 28 Owensville, MO 65066
Property Lookup
Property profile & analytics
1208 Highway 28 Owensville, MO 65066
- Retail space
- 37,895 SF
- 5.97 lot acres
Property ID
US48-3035477
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Tractor Supply Co. / Pet Store & Service
Property Details for 1208 Highway 28
- Year built
- 1981
- Lot size
- 5.97 lot acres
- Property size
- 37,895 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a 37,895-square-foot Tractor Supply Co. storefront in Owensville, Missouri. Located at 1208 Hwy 28, this single-story building sits on a 5.97-acre lot and boasts a strong 6.00% cap rate based on a Net Net Net (NNN) lease with a substantial Net Operating Income (NOI) of $122,211. The lease, originally commencing January 31, 2008, has been extended through January 30, 2038, providing a remaining term of 13.2 years. Built in 1981 and renovated in 2024, the property benefits from built-in rent escalations: a 5% increase in 2030 and 10% increases in 2035 and at each subsequent option renewal. Two, five-year lease options further enhance the long-term value. The property's low rent of $3.22 per square foot is significantly below replacement cost, estimated at $54 per square foot. The tenant, Tractor Supply Co. (TSCO), a publicly traded company with a $26 billion market cap and an S&P "BBB" investment-grade credit rating, demonstrates a strong commitment to the location, evidenced by a recent 10-year lease extension and ongoing store remodeling and rebranding. The property enjoys a 100% occupancy rate and benefits from minimal landlord responsibilities, primarily limited to roof and structure maintenance. The strategic location along Highway 28, Owensville's main thoroughfare, ensures high visibility and accessibility. This presents a compelling investment opportunity with significant upside potential due to the strong tenant, favorable lease terms, and strategic location within a thriving rural market. The property's low rent-to-sales ratio of 2.8%, based on $4.34 million in 2023 sales, further underscores its exceptional value.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Owensville
- County
- Gasconade
- State
- Missouri
- Longitude
- -91.5197277
- Latitude
- 38.3351664
