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1425 E Battlefield St
Springfield, MO 65804

$2,767,000

Freestanding For Sale  •  56,033 Sq Ft

Property Details

  • Property Type Freestanding
  • Total Building Size 56,033 Sq Ft
  • Building Class C
  • Year Built 1989
  • Cap Rate 9.00 %
  • Tenancy Multiple
0 Transit Score
73 Walk Score

Description

The Property features long-term leases with a mix of notable national and local/regional tenants including Gordmans, Massage Envy, Stanton Optical and Kirksville Carpet One. The current weighted average remaining term is 9.3 years, with nearly 88% of the leased GLA on long-term leases until 2030, providing an investor with a stable yet accretive income stream for years to come.

The Property is ideally positioned along the heavily trafficked Battlefield Rd (29,000+ VPD), just down from the main and main intersection in the trade area. Sitting in an irreplaceable location at the hard corner of Battlefield Rd and Fremont Ave directly out front of the super-regional Battlefield Mall ($450+ PSF Sales), Morris Corners benefits from the heavy cross-traffic from Battlefield Mall, as well as the great visibility and signalized access. The center is positioned to continue thriving long into the future.

Located in Springfield, MO, the Property benefits greatly from its immediate proximity to the super regional Battlefield Mall, which sees more than 12 million visitors annually. Spanning over 1.2 million square feet of GLA, and housing over 150 fine stores and restaurants, Battlefield Mall is not only the most popular retail destination, but also the largest shopping center in Southwest Missouri.

The Property has experienced strong leasing momentum over the last 12 months inking a new 10-year lease with Gordmans (Expires 2030), as well as a 10-year deal with Stanton Optical (Expires 2030), and a 5-year deal with Kirksville Carpet One (Expires 2024). Additionally, Ownership was able to extend the current ground lease for an additional 5 years, providing an investor with control until at least 2053 (current term expires 12/31/23 with six (6) remaining five (5) year renewal options). Additionally, ownership exercised it’s seventh extension option to extend the current ground lease for an additional five years (current term expires 12/31/23 with six (6) remaining five (5) year options.

The Property is being offered “free and clear” of any existing debt, providing a buyer with a fantastic opportunity to obtain historically attractive financing.

Highlights

LONG-TERM LEASES WITH NEW NATIONAL ANCHOR
IRREPLACEABLE LOCATION WITH GREAT VISIBILITY AND SIGNALIZED ACCESS
HIGHLY TRAFFICKED SUPER REGIONAL TRADE AREA
STRONG RECENT LEASING MOMENTUM
FREE & CLEAR
Cap Rate: 9.00 %

Major Tenants

Tenant SF Occupied Lease End Date
Gordmans 46,000 SF 1/31/2030
Kirksville Carpet One 3,400 SF 8/31/2024
Massage Envy Spa 3,433 SF 8/31/2023
Stanton Optical 3,200 SF 1/31/2030

Amenities

  • Dedicated Turn Lane
  • Metro/Subway
  • Pylon Sign
  • Signage

Public Transportation

AirportDriveWalkDistance
Springfield-Branson National Airport 29 min - 13.4 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Ben Snyder 216-503-3607 Matthews Real Estate Investment Services
Ben Snyder 216-503-3607 Matthews Real Estate Investment Services