2510 Baltimore St Kirksville, MO 63501-1922

Property Details for 2510 Baltimore St

Year built

2005

Lot size

2.10 lot acres

Property size

5,724 SF

Property type

Commercial real estate

APN

08-08.0-33-004-01-04.006

APU

8080330040104006

Description

This exceptional investment opportunity presents a thriving Tidal Wave Auto Spa in Kirksville, Missouri. The property, located at 2510 N Baltimore St, boasts 3,465 square feet on a 2.1-acre lot and benefits from a 20-year triple-net (NNN) lease commencing December 28, 2022, with a remaining term of approximately 18.1 years. The current annual net operating income (NOI) is $360,000, representing a 6.55% capitalization rate. The lease includes annual rent increases of 2% starting in year seven, ensuring consistent growth. This car wash is situated in a high-traffic area with over 15,600 vehicles passing daily on N Baltimore St, surrounded by major retailers including Walmart, Aldi, Hobby Lobby, and more. The strong local economy is further bolstered by the presence of Truman State University and A.T. Still University, contributing to a robust consumer base with average household incomes exceeding $71,200 within a one-mile radius. Proximity to the Kirksville Regional Airport, averaging over 113 flights weekly, adds to the property's strategic location. This is a turnkey investment with exceptional potential for long-term returns. The property is 100% occupied and offers a secure, passive income stream. The asking price is $5,496,183.