Listed by Clemons Real Estate
$299,000
35th & Prospect
Details
Property Type Retail
Sub Type Storefront, Commercial
Square Footage 4,455
Units 4
Cap Rate 6.69%
Occupancy 100%
Tenancy Multi
Price per SqFt $67
Year Built 1910
Acreage 0.120
Zoning Variety of Uses
Investment Type Value Add
Fully Occupied Value-Add Retail | 4,455 SF
Marketing description
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.
Located directly along the Prospect MAX transit corridor, this property sits within the focus area of the ProspectUS Equitable Transit-Oriented Development Strategic Plan. This transformative public-private initiative outlines a 20-year vision to revitalize the corridor through walkable, mixed-use development, transit access, and local business support. Recent and ongoing infrastructure investments—including sidewalks, signal upgrades, and improved public realm—are designed to make the area safer and more connected. The plan aims to add 40,000 new residents and 15,000 new jobs to the corridor, catalyzing new retail and service demand.
3501 Prospect is poised to benefit from these efforts, positioned at one of the high-activity MAX transit stops (notably 35th Street), and surrounded by underutilized parcels targeted for incremental redevelopment. As Kansas City commits to equitable growth in historically disinvested neighborhoods, ownership here is not just an investment in real estate—it's an investment in the future of a neighborhood poised for meaningful, long-term change.
Investment highlights
- 100% Occupied Retail Strip with Value-Add Potential
- Prime Transit-Oriented Location Positioned for Growth
- Recent Cap Ex - Major Systems Replaced
- High Visibility Corner
- Transit-Oriented Development overlay district implementation.
- Strategic node location at major east-west connector (35th Street).
- Located on Kansas City's highest ridership transit route (Prospect MAX).
- City committed to doubling neighborhood population by 2040.
- Central City Economic Development Sales Tax funding active projects.
- Urban Renewal incentive area.
- Zoning enables variety of uses.
Listing Contacts
Listed by Clemons Real Estate
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