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Listed by Susan Scott • Select Sites LLC
$1,500,000
Est. payment /mo
7,720 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2597139
Year Built 1946
Annual Tax Amount $16,227
Lot Size 7,720 Sqft
Acres 0.17722681
Property Sub-Type Retail
Source hmls
Property Description
This completely redeveloped, single-story property is NNN leased to Camp Bow Wow, offering a stable single-tenant investment opportunity in Kansas City's Westport district. Current NOI is $107,664.47, representing a 7.18% cap rate at the $1,500,000 asking price. The first of three 5-year renewal options has been exercised, with rent increasing to $34.63/SF beginning 7/1/29; the second and third options are at market rate beginning 7/1/34 and 7/1/39. Located on Westport Road between Baltimore Avenue and Main Street, the property is directly across from the newer 192-unit Katz apartment development and within walking distance of the KC Streetcar. The location benefits from strong residential density, nearby major employment centers, pedestrian and vehicular traffic, and its location within the Main Street CID. The building was completely redeveloped with a newer roof, storefront and glazing, updated plumbing and electrical systems, and new HVAC equipment with warranty, plus $500,000+ in tenant improvements. NNN lease structure provides minimal Landlord responsibilities.
Location
State MO
County Jackson
Zoning B3-2
Interior
Fireplace N
Exterior
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Building
Story 1
Others
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
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