Tractor Supply Retail
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For Sale
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1253 SE Oldham Pkwy, Lees Summit, MO 64081
Corporate retail property with an absolute net lease extending through September 2035.
Property Size23,520 SF
Lot Size3.81 Acres
Price / SF$263.12
Days on Market3
Property Features for 1253 SE Oldham Pkwy
General Information
Standard status
Active
Size
23,520 SF
Lot size
3.81 Acres
Property subtype
RETAIL
Additional Details
Traffic Count
44,470 vehicles/day
Listing Agency:
Marcus & Millichap | Phoenix
(602) 687-6700
Listed By:
Mark Ruble · License #(S):AZ:SA550593000,NV:S.0192964
(602) 770-2935
Source:
Moodyscre
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 3:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This 23,520-square-foot retail property is occupied by Tractor Supply Co. under a corporate absolute net lease. The lease extension was exercised through September 2035, and the location reflects a 20-year operating history. The property is positioned on a 3.81-acre site with exposure to Highway 50.
Located at 1253 SE Oldham Pkwy in Lee's Summit, Missouri, the property records approximately 44,470 vehicles per day along Highway 50. The surrounding retail environment includes Costco, The Home Depot, Price Chopper, and Summit Waves. The site is approximately 20 miles from downtown Kansas City and serves a Kansas City commuter suburb.
Located at 1253 SE Oldham Pkwy in Lee's Summit, Missouri, the property records approximately 44,470 vehicles per day along Highway 50. The surrounding retail environment includes Costco, The Home Depot, Price Chopper, and Summit Waves. The site is approximately 20 miles from downtown Kansas City and serves a Kansas City commuter suburb.
Key Highlights
- Corporate absolute net lease extended through September 2035
- 23,520‑square‑foot Tractor Supply Co. retail property
- 3.81‑acre site with Highway 50 exposure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$334,433
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,688,660
$6.7M
Cap Rate 7%
$4,777,614
$4.8M
Cap Rate 9%
$3,715,922
$3.7M
Market Conditions
NOI Build-Up for 23,520 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$522.1K $22.20/SF
− Vacancy
−$44.4K −$1.89/SF
EGI
$477.8K $20.31/SF
− OpEx
−$143.3K −$6.09/SF
NOI
$334.4K $14.22/SF
Area
Lees Summit, MO
Vacancy
8.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,688,660
Cap Rate 7%
$4,777,614
Cap Rate 9%
$3,715,922
Alternative Uses
Best Use
Retail
$4.78M
$4.18M – $5.57M
NOI $334,433 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.97M
$5.22M – $6.96M
NOI $417,856 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
44,470 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
100k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Home Improvements & Furnishings 17%
Shops & Services 4%
Hotels & Casinos 1%
McDonald's
Dining
29,566 visits/mo
0.3 miles
Culver's
Dining
23,028 visits/mo
0.1 miles
Tractor Supply Co.
Home Improvements & Furnishings
16,941 visits/mo
0.1 miles
Taco Bell
Dining
12,541 visits/mo
0.1 miles
The Big Biscuit
Dining
10,994 visits/mo
0.1 miles
Demographics for 64081, MO
24,903
Population
10,778
Households
2.3
Avg Household Size
43
Median Age
51%
College-Educated
98%
High-School Grad
13.0 sq mi
ZIP Area
1,916
Density / Sq Mi
$103,490
Median Household Income
$61,338
Median Earnings
$1,449
Median Rent
$333,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Corporate retail property with an absolute net lease extending through September 2035.
Where is this retail space located?
The property is located at 1253 SE Oldham Pkwy Lees Summit, MO.
What is the asking price?
The asking price for this property is $6,188,500.
What are key features of this property?
This property features: Corporate absolute net lease extended through September 2035; 23,520‑square‑foot Tractor Supply Co. retail property; 3.81‑acre site with Highway 50 exposure
