Log In/Sign Up
Your email has been sent.
508 Johnny Walker Ln
Richmond, MO 64085
Harps Hometown Fresh - Richmond, MO · Retail Property For Sale
Investment Highlights
- Absolute NNN Harps Foods – Kansas City MSA: Long-term lease to Harps Food Stores, Inc operates 178+ locations with over $1.5B in annual sales.
- Municipal Partnership: Offering structured as temporary leasehold interest, with City of Richmond holding fee title through end of incentive period.
- Reversionary Value: At the end of the Chapter 100 term (Dec 31, 2036), fee title transfers to the leasehold owner.
- 2019 Construction, Free-Standing Grocery Property Near Richmond HS & MS (833 Students): 25,450 SF building on 3.61 acres;
- Tax-Advantaged Structure: Property tax abatement via Chapter 100 reduces Harps’ occupancy costs.
Executive Summary
SHOP Companies is pleased to present the opportunity to acquire an absolute NNN leased grocery property leased to Harp’s Food Stores, Inc., a regional, employee-owned operator with more than 178 locations and approximately $1.5 billion in annual sales. Constructed in 2019, the 25,450-square-foot store sits on 3.61 acres and operates as a full-service grocery featuring pharmacy, deli, bakery, prepared foods, and online ordering. Harps is strategically located off MO-13, just north of Richmond High School and Middle School, and is one of only a few full-service grocery providers in the city.
The property operates within the City of Richmond Chapter 100 Industrial Development Program, under which the city temporarily holds fee title during the incentive period while the investor controls the leasehold interest and receives rental income. Upon expiration of the program on December 31, 2036, fee simple ownership automatically reverts to the investor, eliminating municipal involvement from that time forward.
In Association with ParaSell, Inc. | A Licensed Missouri Broker #2019035835
The property operates within the City of Richmond Chapter 100 Industrial Development Program, under which the city temporarily holds fee title during the incentive period while the investor controls the leasehold interest and receives rental income. Upon expiration of the program on December 31, 2036, fee simple ownership automatically reverts to the investor, eliminating municipal involvement from that time forward.
In Association with ParaSell, Inc. | A Licensed Missouri Broker #2019035835
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
25,450 SF
Building Class
B
Year Built
2019
Price
$3,699,500
Price Per SF
$145.36
Cap Rate
7.78%
NOI
$287,825
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
3.61 AC
Parking
92 Spaces (3.61 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 10093101008031002 | Improvements Assessment | $2,602,340 |
| Land Assessment | $476,980 | Total Assessment | $3,079,320 |
Property Taxes
Parcel Number
10093101008031002
Land Assessment
$476,980
Improvements Assessment
$2,602,340
Total Assessment
$3,079,320
1 of 14
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
