Kay Jewelers + Chipotle Strip

Joplin | Missouri

Kay Jewelers + Chipotle Strip

631 S Rangeline Rd
Joplin, MO 6480

Offering Summary

  • Status: just listed
  • Price: $2,188,000
  • Cap Rate: 6.74%
  • Price/SF: $520
  • Net Operating Income: $147,400
  • Price/SF: $520
  • Year(s) Built: 2013
  • Lot Size (Acres): 0.77
  • Major Tenants: Kay Jewelers, Chipotle
  • Chipotle & Kay Jewelers | Joplin, MO | Caters to Over 210,000 Population Base
  • Situated at Busiest Signalized Intersection in Region Seeing Over 53,120 Vehicles Per Day
  • Target Shadowed – Over 1.2 Million Visitors Per Year | Situated in Heart of Primary Retail Corridor
  • Ease of Management with Only 2 National Corporate-Backed Tenants | Landlord Favorable NNN Lease Structures
  • Proven Tenant Commitment | Both Tenants Original to the Property | 13+ Years of Operating History | Both Renewed in 2023 Modest Rent Levels | High NOI Growth Potential
  • Below-Market Rents For Respective Brands Offers Significant NOI Growth Potential | Strong Protection Against Relocation in a Submarket with Less Than 2.2% Vacancy
  • Chipotle | Corporate Guaranteed Lease | Investment Grade Credit | NYSE: CMG | +$48 Billion Market CAP
  • Chipotle Pays Just $41.14/SF = 46% Below Newer Locations | Only Location Within 70 Miles | 10% Option Rent Increases
  • Kay Jewelers | Corporate Backed Lease | Subsidiary of Signet Jewelers – Largest Jeweler Retailer | NYSE: SIG | + $3.25 Billion Market CAP
  • Kay Jewelers Ranks Top 8% in Nation for Foot-Traffic and #1 Location in Missouri (Placer.Ai) | Modest Rent | No Options Remaining | Only Location within 70 Miles
  • Growing Customer Traffic | Chipotle Visits Increased 21% Over the Past Three Years | Kay Jewelers Visits Increased 8.3% Year Over Year
  • Primary Retail Corridor | Surrounded by Target, Walmart, Academy Sports, Home Depot, Best Buy, TJ Maxx, Ross, Burlington, PetSmart, Dollar Tree, Natural Grocers, Books-A-Million, Shoe Carnival, Hobby Lobby, Lowe’s, and major QSR tenants such as Chick Fil-A, Raising Cane’s, Texas Roadhouse, McDonalds, Starbucks, and More
  • Dense and Mature Demos | Population Counts of 6,378 within 1-Mile, 45,604 within 3-Miles, and 121,474 within 10-Miles | AHHI In Excess of $81,000
  • Regional Economic Hub | Joplin Metro Population Exceeds 210,000 | Strategically Positioned Near Missouri, Kansas and Oklahoma | Less Than Five Minutes from Missouri Southern State University and Its 4,000+ Students
EXCLUSIVELY LISTED BY:

Zach Turner

Senior Director