Best Buy

3117 Turkey Creek Blvd. Joplin, MO 64801

  • 30,000 Square Feet
  • Retail
  • For Sale

Summary Description

We are pleased to offer to qualified investors an opportunity to invest in a single tenant NNN (excluding roof & structure) freestanding building that is 100% leased to Buy Buy Corporation (corporate guarantee) ideally located on one of the area’s strongest retail corridors and across the street from the Northpark Mall - a 1,080,000 square foot regional power mall comprised of 115 retailers and over 5,500 parking spaces. Moreover, the currently lease offers an investor a fixed term of approximately 6.5 years (tenant recently renewed early and is remodeling the store). There are fixed rental escalations every 5 years in the amount of $15,000 per year (next increase begins in November 2017). Offered at a 6.50% CAP Rate, the going in rate of return is approximately 7.03%. The lease is guaranteed by Best Buy Corporation (NYSE: BBY), which is currently rated S&P “BB” with a market cap of approximately $13.1 Billion. Ranked #60 on Fortune 500’s 2014 list of America’s Largest Companies.

Property Status: Single Tenant NNN Lease

Price: $4,175,000.00

Building Size: 30000 Square Feet

Area Available: 30,000 Square Feet

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