Harps Hometown Fresh - Richmond, MO
Retail | 7.78% CAP | 25,450 SqFt
Marketing description
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
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.
2019 Construction, Free-Standing Grocery Property Near Richmond HS & MS (833 Students)
25,450 SF building on 3.61 acres; excellent ingress/egress and visibility with direct access to central Richmond and Highway 10 (Kansas City corridor).
Municipal Partnership
Offering structured as temporary leasehold interest, with City of Richmond holding fee title through end of incentive period.
Tax-Advantaged Structure
Property tax abatement via Chapter 100 reduces Harps’ occupancy costs.
Reversionary Value
At the end of the Chapter 100 term (Dec 31, 2036), fee title transfers to the leasehold owner.
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