2963 Division St Springfield, MO 65803-5242

Property Details for 2963 Division St

Year built

1991

Lot size

2.26 lot acres

Zone code

INC

Property type

Retail space

APN

88-12-09-312-107

APU

881209312107

Description

This exceptional investment opportunity presents a fee-simple, Class A, 4,495 square foot, single-tenant retail property located at 2963 E Division St, Springfield, MO 65803. The property, built in 2019, operates as a Kum & Go gas station and convenience store, boasting a 100% occupancy rate since its opening on December 31, 2019. The absolute NNN lease with a corporate guarantee ensures minimal landlord responsibilities and provides financial security. The lease, commencing December 31, 2019, has a remaining term of 15.1 years, with four five-year options, extending the lease to December 30, 2039. Rent increases are built into the lease, with a 7.5% bump every five years. The property sits on a 1.55-acre lot and includes seven gas pumps. The property's strong financial performance is reflected in its $6,817,719 asking price, a $1,516.73 price per square foot, and a 5.35% cap rate, generating a net operating income (NOI) of $364,748. The property is zoned for commercial use and benefits from its strategic location in a high-traffic retail corridor, less than a mile from Highway 65, experiencing 31,746 vehicles daily. Nearby prominent businesses include Walmart, several hotels, and numerous fast-food restaurants. The property is eligible for bonus depreciation, offering significant tax advantages. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a prime Springfield, Missouri location.