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Dry Good

Orscheln Farm & Home

1401 E Malone Ave, Sikeston, MO 63801

Listing Price: $1,580,000

Cap Rate
9.00%
Tenant Name
Orscheln Farm & Home
Years Remaining On Lease
0.8
Gross SF
43,169
Guarantor
Corporate Guarantee
Rentable SF
43,169
Price/Gross SF
$36.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$3.29

Investment Overview

Marcus & Millichap is pleased to offer for sale a 43,169-square foot free-standing retail building located in Sikeston, MO, occupied by Orscheln Farm & Home. The property sets on approximately 1.9 acres and was built in 1963. Orscheln Farm & Home executed a 15-year triple net lease commencing March 1, 2007. Landlord responsibilities are limited to structural portions of the building. Tenant maintains roof, parking lot, HVAC and other non-structural items. There are approximately 5 years of term remaining on the triple net lease with a 15% rental increase in the first option period. The tenant has an additional three, five-year renewal option terms with $.50 per square foot rental increases in each. Nearby retailers include: Dollar General, AutoZone, Sherwin Williams, Wendy's, Family Dollar and the famous Lambert's Cafe, one mile north of the subject property. Lamberts Cafe, known in the region for family style southern cooking and throwing rolls to guests, boasts over 750,000 customers per year. Two miles east of Orscheln Farm & Home at the I-55 Interchange is the Sikeston Factory Outlet, which opened in 1993.

Sikeston is located in both Scott and New Madrid County and is located in southeast Missouri, known as the Missouri Bootheel at the junction of I-57 and I-55 near the Tennessee and Kentucky border. The city population is 16,000 and the county population is 39,000. Sikeston is well known for its annual rodeo which draws 20,000 fans.

Orscheln Farm and Home supplies agricultural goods for farm, home, ranch, and suburban customers through its over 160 retail stores across nine Midwestern states and its website. Orscheln offers animal feed and health items and other farm and ranch supplies. As part of its business, it also sells people products such as clothing and footwear, lawn and garden care items, hunting equipment, tools, hardware, automotive supplies, plumbing and electrical equipment, and other home improvement items. Orscheln Farm and Home has been in the retail business since November of 1960. Orscheln Farm and Home is headquartered in Moberly, MO. In 2021, Tractor Supply Company announced a pending acquisition of Orscheln Farm & Home, subject to federal regulatory approval.

Investment Highlights

  • Orscheln Farm & Home- Largest Private Farm Store Retailer
  • Original Sale/Leaseback in 2007
  • Priced at $37 per Square Foot - 9.0% Cap Rate
  • Near I-57 & I-55 Junction - Southeast Missouri
  • NNN Except Structure (Landlord)
  • Near Famous Lambert's Restaurant -#1 Tourist Destination

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    License(s): MO: 2013016939

    Missouri

Listing Price: $1,580,000

Cap Rate
9.00%
Tenant Name
Orscheln Farm & Home
Years Remaining On Lease
0.8
Gross SF
43,169
Guarantor
Corporate Guarantee
Rentable SF
43,169
Price/Gross SF
$36.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$3.29

Investment Highlights

  • Orscheln Farm & Home- Largest Private Farm Store Retailer
  • Original Sale/Leaseback in 2007
  • Priced at $37 per Square Foot - 9.0% Cap Rate
  • Near I-57 & I-55 Junction - Southeast Missouri
  • NNN Except Structure (Landlord)
  • Near Famous Lambert's Restaurant -#1 Tourist Destination

Investment Overview

Marcus & Millichap is pleased to offer for sale a 43,169-square foot free-standing retail building located in Sikeston, MO, occupied by Orscheln Farm & Home. The property sets on approximately 1.9 acres and was built in 1963. Orscheln Farm & Home executed a 15-year triple net lease commencing March 1, 2007. Landlord responsibilities are limited to structural portions of the building. Tenant maintains roof, parking lot, HVAC and other non-structural items. There are approximately 5 years of term remaining on the triple net lease with a 15% rental increase in the first option period. The tenant has an additional three, five-year renewal option terms with $.50 per square foot rental increases in each. Nearby retailers include: Dollar General, AutoZone, Sherwin Williams, Wendy's, Family Dollar and the famous Lambert's Cafe, one mile north of the subject property. Lamberts Cafe, known in the region for family style southern cooking and throwing rolls to guests, boasts over 750,000 customers per year. Two miles east of Orscheln Farm & Home at the I-55 Interchange is the Sikeston Factory Outlet, which opened in 1993.

Sikeston is located in both Scott and New Madrid County and is located in southeast Missouri, known as the Missouri Bootheel at the junction of I-57 and I-55 near the Tennessee and Kentucky border. The city population is 16,000 and the county population is 39,000. Sikeston is well known for its annual rodeo which draws 20,000 fans.

Orscheln Farm and Home supplies agricultural goods for farm, home, ranch, and suburban customers through its over 160 retail stores across nine Midwestern states and its website. Orscheln offers animal feed and health items and other farm and ranch supplies. As part of its business, it also sells people products such as clothing and footwear, lawn and garden care items, hunting equipment, tools, hardware, automotive supplies, plumbing and electrical equipment, and other home improvement items. Orscheln Farm and Home has been in the retail business since November of 1960. Orscheln Farm and Home is headquartered in Moberly, MO. In 2021, Tractor Supply Company announced a pending acquisition of Orscheln Farm & Home, subject to federal regulatory approval.

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    License(s): MO: 2013016939

    Missouri

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