UPDATED:
12/25/2024 02:00 AM
Key Details
Property Type Commercial
Sub Type Commercial & Indr.
Listing Status Active
Purchase Type For Sale
Square Footage 18,240 sqft
Price per Sqft $54
Subdivision Ritz 8
MLS Listing ID 24077380
Lot Size 1.450 Acres
Acres 1.45
Property Sub-Type Commercial & Indr.
Property Description
The Lebanon Ritz 8 building is listed for sale for the first time ever! Built in 1992 for the current tenant, this is a building with a proven record of cash flows. Building is currently leased through 9/30/2029 with built in renewal option(s) and increases on 5 year increments. As the only theatre in a growing town, it has and is set to remain a landmark in the community.
Listed with an over 8% CAP rate, this is a great investment opportunity to build long term wealth. Lessor only responsible for land taxes and roof maintained. Current tenant has been in for 30+ years!!! Purchase also comes with 1/3 ownership of the parking lot and, if you've sharpened your pencil you'll realize that this is a VERY attractive deal for the savvy investor.
Location
State MO
County Laclede
Area Lebanon City Limits
Zoning C1
Interior
Heating Forced Air
Cooling Electric
Fireplace N
Exterior
Utilities Available Cable Available, Electricity Available, Gas to Site, Water Available, Sewer Available, Phone Available
Roof Type Flat
Building
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash Only, Conventional
Listing Terms Cash Only, Conventional
Special Listing Condition Some Accessible Features, None
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Bill Crouch
Agent - Wichita Falls Team Lead | License ID: 493718
Agent - Wichita Falls Team Lead License ID: 493718