Listed by Link Property Advisors, Hanley Investment Group
$5,965,000
Independence Corners | Independence, MO
Details
APN 25420037100000000, 25420037200000000, 25420037300000000
Property Type Retail
Sub Type Storefront
Square Footage 72,956
Net Rentable (SqFt) 72,956
Cap Rate 7.35%
NOI $438,267
Occupancy 100%
Tenancy Multi
Price per SqFt $82
Broker Co-Op Yes
Year Built 1985
Year Renovated 2017, 2023
Buildings 2
Stories 1
High-Performance-Credit Anchor Tenant | High-Traffic, Signalized Intersection (62,000 CPD)
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/IndependenceCorners
Investment highlights
- Tractor Supply Co./7 Brew/American Freight and Shops: 84% occupied, stabilized investment with the opportunity to add value through lease-up and cap rate arbitrage; 9.40 Weight Average Lease Term (WALT)
- Tractor Supply - Has investment-grade credit (NASDAQ: TSCO; S&P: BBB) and is the largest rural lifestyle retailer in the U.S., with 2,600+ locations
- Tenant since 1996 (30 years)
- Executed a 12-year early lease extension, extending the term through 2037
- High-volume store; ranked #2 out of 68 Tractor Supply locations in Missouri and in the top 3% nationwide (Placer.ai)
- In 2024, Tractor Supply Company completed a full interior remodel and added a greenhouse and outdoor display area at its sole cost and expense, which was estimated to be over $800,000
- American Freight Furniture & Mattress - Ranks #1 in Missouri and in the top 7% nationwide (Placer.ai), ranking #5 out of 58 stores
- Recently executed a new 10-year lease extension with attractive fixed rental increases
- 7 Brew - Operates under a 15-year absolute NNN ground lease
- 7 Brew constructed the building at its sole cost and expense, resulting in below-market rent
- Top 13% nationwide in volume (Placer.ai)
- Already separately parceled, giving the buyer the opportunity to sell and increase the overall cap rate by at least 35 basis points
- Attractive shop space that, once leased, will add nearly 200 basis points to the cap rate
- Tractor Supply - Has investment-grade credit (NASDAQ: TSCO; S&P: BBB) and is the largest rural lifestyle retailer in the U.S., with 2,600+ locations
- Parking Lot Was Milled and Overlaid in 2025
- High-Traffic, Signalized Intersection (62,000 CPD)
- Independence is Part of the Kansas City MSA: Independence is located 25 minutes from downtown Kansas City and 40 minutes from Kansas City International Airport
- 31st largest MSA in the nation; 2.35 million population
Listing Contacts
Listed by Link Property Advisors, Hanley Investment Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$438,267.00
$36,522.25/mo
Valuation Metrics
0
DSCR
7.35%
Cap Rate
7.35%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
