3045 W Republic Rd - Drug Store FOR SALE


Springfield, MO 65807- Outer Southwest Springfield
$3,700,000 USD
917-741-1525
3045 W Republic Rd, Springfield, MO for Sale
$3,700,000 USD
Drug Store - FOR SALE
1/4
null | 6% Cap Rate

3045 W Republic Rd
Springfield, MO 65807
Outer Southwest Springfield


HIGHLIGHTS

  • 52% Loan to Value Self Liquidating Debt
  • Loan has Pay Down Readvance Feature
  • Assumable Loan Has a 4.7% Interest Rate
  • Very Low Rent of 16.75 Per Square Foot
  • Over 11,000 Population in 1 Mile and 127,000 in 3 Miles
  • • Loan Self-Liquidates Over the Next 11 Years

OVERVIEW

INVESTMENT SUMMARY: HMX Realty Advisors is pleased to offer for sale a Zero Cash Flow CVS Pharmacy located in Springfield, MO, a major medical and educational hub. This fee simple property is offered with a zero cash flow structure with pay down re-advance available. Loan to value is 52% allowing a 1,929,000 pay down re-advance. The property is ideal for a 1031 exchange. The Zero Cash Flow structure allows a 1031 Exchange buyer the ability to acquire the asset for virtually all cash ($3,700,000) and have the debt re-advanced to $1,929,000 immediately post-closing. The mortgage proceeds from the re-advanced loan are not subject to capital gains or income tax, however, HMX Realty Advisors is not qualified to give legal or tax advice. The property is a 13,225-sf building on 2.34 acres of land, and is leased for 13+ years to CVS, an investment grade company on an absolute bond triple-net lease with no landlord responsibilities whatsoever. The existing debt self-liquidates over the next 11 years and has an interest rate of 4.7% with a 3-year rent holiday starting Februart 1st, 2036. AREA SUMMARY: The property is located at the signalized intersection of W. Republic Road and S. Farm Road in Springfield, MO, just south of the exit and on ramp to US Route 60, one of the connecting loop roads around Springfield. Also known as the “Queen of the Ozarks”, Springfield is the third largest city in the state of Missouri and home to three universities. The economy is based on health care, manufacturing, retail, education, and tourism, and serves as the headquarters for several firms including Bass Pro Shops and O’Reilly Auto Parts. Area retailers include CVS, Walmart Neighborhood Market, Walgreens, Sonic, Dollar Tree, Planet Fitness, local eateries, gas/convenience store, banks and farmer’s market. The property is supported by strong local demographics, with over 60,000 people located within a 3-mile radius with an average household income exceeding $86,000. The population is projected to continue to increase.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$279 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Unique 52% Paydown Readvance Opportunity

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.34 AC

LAND SF

101,930 SF

ZONING

INC

APN/PARCEL ID

18-09-406-203

ASK ABOUT THIS PROPERTY

Rob JamesHMX1031.COM - NETLEASENAVIGATOR.COMMore Info
917-741-1525

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Rob JamesHMX1031.COM - NETLEASENAVIGATOR.COMMore Info
917-741-1525

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.