MyIRENS-ID: MI-20110221IE4992
AGENCY-ID: N/A

Real Estate Type (Usage) : Retail Trade

Short Description

Reduced $50K now priced at $499,525, Buyer Broker commission increased from 3% to 6%. Now offering an owner 2nd of 20% at 6% interest with $600 P&I. And with assumable $275K 1st loan this offering is a compelling opportunity.

Coldwell Banker Commercial

Property Futures

(21) Approximate size. 11.6 acres*.

(22) Main Building. 8,000 SF* metal construction on slab. Built in 1999*. Very good condition.

(23) Cookies Home. Currently used as a rental. 1,700 total SF as per owner. Frame on pier and beam built in 1965*. Good condition.

(24) Garage. 952 SF* built in 1965*. Average condition.

(25) Two out buildings. One is a covered RV parking area and the other is a shed. The build dates are unknown but assumed to be 1965. Average condition.

(26) Two large outdoor highway signs. Both signs convey.

(27) Frontage. 1,611.34 est. (0.30 mi.). Includes 1,190.02 est. on US Highway 160 and 421.32 est. on State Highway HH.

(28) In City Limits? No

(29) Community. Highlandville.

(30) Utilities. 3-phase electric. Septic, City Highlandville Water. WIFI.

(31) School district. Spokane R-VII School District Spokane.

(32) Minerals. None believed owned. Any owned minerals defined in deed will convey.

(33) Sold as is-where is. No known inspections since acquisition in 2004.

* Based on Christian County Tax Database.

Other

BUSINESSES AND FINANCIALS

(39) Current cap with owner management (no costs for management). 8.23%.

(40) $275K assumable 1st mortgage. 7.25% interest rate.

(41) $41K cash flow. $41,450 avg last 3 years.

(42) Cookies Antique World. Occupies main building. Positive cash flow with significant opportunities for revenue improvement.

(43) HWY 160 RV Park. 18 current spaces with pads, full electric. Rentals on a daily, weekly, monthly, seasonal and annual basis. Routinely runs near 100% occupancy.

(44) Sell of up to 6.88 acres to reduce capital cost. The two businesses utilize about 4.72 acres of the 11.6 total acres. Up to 6.88 acres with extensive HWY 160 frontage could be sold to reduce your capital cost.

(45) Cookies Home. Currently used as a rental. 1,700 total SF as per owner. Frame on pier and beam built in 1965*. Good condition.

(46) Opportunities to improve cash flow.

(a) Add additional RV spaces.

(b) Add mobile home park.

(c) Expand products/services offered. Consider a restaurant or limited service venue, sell beer and wine, add vending machines, sell ice, and/or add convenience store items.

(d) Build to suit retail or service on excess land.

(2) Unmet local retail demand at a 10-mi. radius summary. Top 10 opportunities range from $600K+ to $36M+ in annual potential revenues (Total $). Top 3 avg: $26M+ Total $, $1,791 annually per HH & $ 668 annually per person. Top 5 avg: $22M+ Total $, $1,498 annually per HH & $559 annually per person. Top 10 avg: $12M+ Total $, $848 annually per HH & $316 annually per person.

(3) Key top opportunities that appears compatible with current property improvements.

(a) General Merchandise $36M+ Total $. $2,491 annually per HH & $929 annually per person.

(b) Food & Beverage Store $20M+ Total $. $1,370 annually per HH & $511 annually per person.

(c) Full-Service Restaurant $16M+ Total $. $1,142 annually per HH. $426 annually per person.

(d) Food Services & Drinking $7M+ Total $. $537 annually per HH. $200 annually per person.

(e) Furniture & Home Furnishings $3M+ Total $. $216 annually per HH. $80 annually per person.

(47) Available financials. Tax returns, details on 1st loan and reported financials for 6 years.

(48) Disclosure. After executing a confidentiality agreement, we will provide all financials, tax and other documents.

Location

LOCATION

(49) Directly on US HWY 160.

(50) Only 4 mi. to US HWY 65. Easy access to and from US HWY 65, the primary cor-ridor between Branson and Springfield.

(51) Convenient Springfield and Branson access. 17 mi. to Springfield at US 65 & US 160, 22 mi. to Branson, 24 mi. to downtown Springfield, 26 mi. to I44 and James River FWY & 26 mi. to Republic.

(52) Excellent regional access. 86 mi. to Joplin and Bentonville.

(53) Springfield highway and Interstate access. 16 mi. to James River Freeway & 26 mi. to I44.

(54) Airport access.

(a) 17 mi. to Springfield-Branson National Airport (KSGF). Service available includes: American commuter service to Chicago and Dallas; Allegiant service to Los Angeles, Las Vegas, Orlando, Tampa and Phoenix; Delta commuter service to Atlanta, Minneapolis and Memphis; and United commuter service to Chicago and Denver.

(b) 33 mi. to Branson Airport (BKG). Service available includes: AirTrans non-stop flights to Atlanta, Orlando, Milwaukee; and Sun Country Airlines non-stop flights to Dallas-Fort Worth (DFW) and Minneapolis-Saint Paul (MSP).

(55) In the affluent Springfield CBSA & DMA.

Interior Futures

No Information given