3424 22nd St Saint Joseph, MO 64503

Property Details for 3424 22nd St

Lot size

1.98 lot acres

Property type

Commercial land

APN

06-8.0-28-002-001-007.001

APU

68028002001007001

Description

This exceptional investment opportunity presents a 10,000 square foot, newly constructed (2024) Dollar Tree retail property located at 3424 S 22nd St, Saint Joseph, MO 64503. The property sits on a 1.98-acre lot and benefits from a 10-year Net Lease (NN+) with a credit-rated, corporate-guaranteed tenant. The lease commenced March 28, 2024, and expires March 30, 2034, offering a remaining term of 9.5 years. The property boasts a 7.35% cap rate and a strong Net Operating Income (NOI) of $135,000. The asking price is $1,836,735. The lease includes five, five-year options with rent increases of $5,000 (or $0.50 per square foot). This location enjoys a strong demographic profile, with a 5-mile population of 69,231 residents and a 10-mile population of 87,172 residents, boasting an average household income of $87,283 within 10 miles. Further enhancing the investment's appeal is the property's proximity to the Kansas City Chiefs training camp and the inclusion of a 20-year transferable roof warranty. The property's tenant, Dollar Tree, is a highly reputable, investment-grade rated (BBB-) national retailer with over 16,000 locations. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a strong tenant and significant upside potential. 100% occupancy.