4315 Pickett Rd St Joseph, MO 64503

Property Details for 4315 Pickett Rd

Year built

2003

Lot size

15.00 lot acres

Property size

49,956 SF

Zone code

CITY

Property type

Office Properties & Spaces

APN

06-6.0-23-001-000-006.000

APU

66023001000006000

Description

This fee-simple industrial property in Saint Joseph, Missouri, presents a compelling investment opportunity. The 107,236 square-foot building sits on a 15-acre lot and boasts 610 parking spaces. Currently 100% occupied by Alorica under a NNN lease with a corporate guarantee, the property offers significant long-term stability. The lease, commencing November 1, 2019, and expiring December 31, 2032, has approximately 8.1 years remaining, with two 5-year renewal options. Scheduled rent bumps throughout the lease term provide built-in protection against inflation and ensure consistent NOI growth. The property's strong 8.75% cap rate, coupled with a Net Operating Income (NOI) of $605,883, makes it an attractive investment. Located at 4315 Pickett Rd, Saint Joseph, MO 64503, in the M-1 Light Manufacturing District, the property benefits from its proximity to Interstate 29, a major thoroughfare with high daily traffic volume. The surrounding area features a dense retail and industrial corridor with numerous national tenants, creating strong tenant synergy and increased consumer traffic. The property's location near two elementary schools further enhances its visibility and accessibility. The 5-mile trade area boasts a substantial population and workforce, with an average household income exceeding $75,000. Landlord responsibilities are limited to roof and structure maintenance, minimizing management overhead. The asking price is $6,924,000. APN: 06-6.0-23-001-000-006.000. Year built: 2003.

Location Insight

City

Saint Joseph

County

Buchanan

State

Missouri

Longitude

-94.7906

Latitude

39.7422

CBSA code

41140

CBSA name

ST. JOSEPH, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments