120 Ichord Avenue
Retail | 11.15% CAP | 7,930 SqFt
Marketing description
Offered at $990,000, this fully occupied multi-tenant commercial property is a rare opportunity to acquire stabilized, diversified cash flow in fast-growing Pulaski County. Ten tenants generate approximately $110,400 in gross scheduled annual income, translating to a strong in-place yield — roughly a 11% gross cap, or a high-single-digit return on a net basis depending on lease structure and expenses.
What makes this offering stand out is the quality and balance of its rent roll. The tenant mix spans medical and wellness (Lake Med Spa, True North Therapy), childcare and education (Sprout n Grow), professional office (Cross Creek Realty and others), and a stable public-sector tenant in the Pulaski County Board for the Handicapped. These are in-person, service-based businesses that the internet can't replace — the kind of tenancy that keeps a building leased through every economic cycle.
The income story only improves from here. Several tenants carry contractual 10% rent escalations that are already scheduled, adding to net operating income with no work required. At the same time, two upcoming move-outs create immediate value-add potential, allowing a new owner to re-lease at current market rents and lengthen weighted lease term. Two tenants currently operating month-to-month can be placed on formal leases to further strengthen the asset's resale value.
Location is a quiet advantage. Waynesville is the Pulaski County seat and sits immediately adjacent to Fort Leonard Wood, one of the U.S. Army's largest installations — an economic anchor that drives steady, recurring demand for the exact medical, childcare, and professional services housed in this building.
Whether you're a 1031 buyer seeking dependable yield, a local investor looking to expand, or an owner-user wanting income to offset occupancy, 123 Inhord Ave offers a turnkey foundation with built-in growth. Contact the listing office for the full offering package, including rent roll and due-diligence materials.
Income figures are approximate and derived from owner-provided information. Buyer to independently verify all income, expenses, lease terms, and square footage.
Investment highlights
Diversified rent roll across 10 tenants — no single tenant dominates the income, which spreads risk and smooths cash flow.
Service-based, e-commerce-resistant tenant mix — medical spa, physical/occupational therapy, childcare, professional office, and a realty office. These are "show up in person" businesses that internet retail can't displace.
Public-sector income stability — the Pulaski County Board for the Handicapped occupies two spaces, adding a quasi-governmental, credit-stable component to the rent roll.
Contractual rent escalations already in place — multiple tenants carry scheduled 10% increases (see Income Notes), delivering built-in NOI growth without buyer effort.
Value-add re-leasing upside — two spaces are on move-out notice, giving a new owner the opportunity to mark rents to market and put month-to-month tenants on term.
Strong in-place yield for the market — roughly a 13% gross return and a high-single-digit return after typical operating expenses.
Location — Waynesville is the Pulaski County seat, immediately adjacent to Fort Leonard Wood, a major U.S. Army installation that anchors stable local demand for medical, childcare, and professional services.
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