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3501-3507 Prospect Ave
Kansas City, MO 64128
Retail Property For Sale
Investment Highlights
- 100% Occupied Retail Strip with Value-Add Potential
- Recent Cap Ex - Major Systems Replaced
- Prime Transit-Oriented Location Positioned for Growth
- High Visibility Corner
Executive Summary
This property presents a unique opportunity to acquire a fully leased, four-storefront retail building in a high visibility location along Kansas City's Prospect Avenue. All tenants are currently paying below market rents, with lease terms either month-to-month or expiring within the next two years - offering built-in flexibility for a new owners.
Whether you're an investor aiming to increase income through strategic renewals and market-rate leasing, or an owner-occupant looking to take space as it becomes available, this asset offers multiple paths to value creation. Recent capital improvements - including a new roof, updated HVAC systems, and the replacements of three out of four water heaters within the last 10 years - provide peace of mind and reduce near-term maintenance costs. With immediate cash flow and long-term upside, this is a strong opportunity in a corridor positioned for transformative reinvestment
Whether you're an investor aiming to increase income through strategic renewals and market-rate leasing, or an owner-occupant looking to take space as it becomes available, this asset offers multiple paths to value creation. Recent capital improvements - including a new roof, updated HVAC systems, and the replacements of three out of four water heaters within the last 10 years - provide peace of mind and reduce near-term maintenance costs. With immediate cash flow and long-term upside, this is a strong opportunity in a corridor positioned for transformative reinvestment
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,455 SF
Building Class
C
Year Built
1910
Price
$299,000
Price Per SF
$67.12
Cap Rate
6.68%
NOI
$19,985
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
11’
Building FAR
0.84
Lot Size
0.12 AC
Opportunity Zone
Yes
Parking
10 Spaces (2.88 Spaces per 1,000 SF Leased)
Frontage
88’ on Prospect Ave
Amenities
- 24 Hour Access
- Corner Lot
- Tenant Controlled HVAC
- Air Conditioning
Property Taxes
| Parcel Number | 31-320-08-04-00-0-00-000 | Improvements Assessment | $52,208 |
| Land Assessment | $21,213 | Total Assessment | $73,421 |
Property Taxes
Parcel Number
31-320-08-04-00-0-00-000
Land Assessment
$21,213
Improvements Assessment
$52,208
Total Assessment
$73,421
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