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18701 E 39th St 31,541 SF 100% Leased Retail Building Independence, MO 64057 $5,500,000 ($174.38/SF) 7.61% Cap Rate



Investment Highlights
- High Demand Location - Concentration of compatible retailers
- Tenant Longevity - 14 Year average tenancy
- Exceptional Condition - Mitigated near term capex risk
- Attractive Economics - 7.22% Cap Rate
- Efficient Tenant Mix - Well-aligned to market demand
- Convenient Accessibility - I-470 & I-70 within 0.5 mile
Executive Summary
Crossroads Real Estate Group is pleased to present the exclusive listing of 18701 East 39th Street, a fully occupied retail investment opportunity in Independence, Missouri. The strip center has been meticulously maintained and is poised to provide investors with reliable and predictable cash flow thanks to a strong tenant roster composed of Rally House, Xfinity and Chuck E Cheese. Tenant longevity averaging over 14 years and recent renewals attest to tenants’ commitment to the location and suggest limited short-term rollover risk. Roof and HVAC systems were replaced in 2011. The roof warranty has several remaining years.
Ideally situated along the 39th Street commercial corridor as an outparcel to the Independence Center Mall, the property enjoys high visibility, robust consumer traffic, and excellent accessibility near major highways. As a retail hub with convenient proximity to key Eastern Jackson County communities, the 39th Street corridor continues to draw customers from an expansive consumer base. This established trade area benefits from the region’s high concentration of national retailers.
Ideally situated along the 39th Street commercial corridor as an outparcel to the Independence Center Mall, the property enjoys high visibility, robust consumer traffic, and excellent accessibility near major highways. As a retail hub with convenient proximity to key Eastern Jackson County communities, the 39th Street corridor continues to draw customers from an expansive consumer base. This established trade area benefits from the region’s high concentration of national retailers.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
31,541 SF
Building Class
B
Year Built/Renovated
1994/2011
Price
$5,500,000
Price Per SF
$174.38
Cap Rate
7.61%
NOI
$418,516
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
3.20 AC
Zoning
Commercial - C-2
Parking
163 Spaces (5.17 Spaces per 1,000 SF Leased)
Frontage
470’ on E 39th St
Amenities
- Corner Lot
- Signage
- Tenant Controlled HVAC
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 34-200-03-02-00-0-00-000 | Improvements Assessment | $169,344 |
| Land Assessment | $940,800 | Total Assessment | $1,110,144 |
Property Taxes
Parcel Number
34-200-03-02-00-0-00-000
Land Assessment
$940,800
Improvements Assessment
$169,344
Total Assessment
$1,110,144
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18701 E 39th St
