Shopping Center
For Sale
Contact for pricing
4600 S Noland Rd, Independence, MO 64055
Retail center property with established tenants and a regional customer draw.
Property Size7,908 SF
Price / SF$224.20
Days on Market1311
Property Features for 4600 S Noland Rd
General Information
Standard status
Active
Size
7,908 SF
Property subtype
RETAIL
Listing Agency:
Block & Company, Inc.
(816) 412-7400
Listed By:
David Block · License #BR00015006
Source:
Moodyscre
Added: Jan 27, 2023
Changed: Aug 29
Last Checked: Aug 29 at 7:04PM
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 Block & Company, Inc.
Investment Insights
Based on property information with market context.
Building 4 measures 7,908 square feet within a 300,000-square-foot retail center. The broader offering includes existing buildings from 3,000 to 127,458 square feet, as well as .70-acre and .77-acre pad sites. The center’s tenant roster includes Olive Garden, Next Level Soccer Training, America’s Best Contacts & Eye Glasses, Pancho’s Mexican Restaurant, and Athletico.
The property is located at 4600 S Noland Rd in Independence, Missouri. The intersection carries over 60,000 cars per day, and nearby tenants include Starbucks, HyVee, Furniture Deals, and Old Time Pottery. The center serves an established population base and draws from the surrounding region.
The property is located at 4600 S Noland Rd in Independence, Missouri. The intersection carries over 60,000 cars per day, and nearby tenants include Starbucks, HyVee, Furniture Deals, and Old Time Pottery. The center serves an established population base and draws from the surrounding region.
Key Highlights
- 7,908‑square‑foot Building 4 within the center
- 300,000‑square‑foot retail center
- Intersection carries over 60,000 cars per day
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
$95,655
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%
$1,913,100
$1.9M
Cap Rate 7%
$1,366,500
$1.4M
Cap Rate 9%
$1,062,833
$1.1M
Market Conditions
NOI Build-Up for 7,908 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
$142.3K $18.00/SF
− Vacancy
−$5.7K −$0.72/SF
EGI
$136.7K $17.28/SF
− OpEx
−$41.0K −$5.18/SF
NOI
$95.7K $12.10/SF
Area
Independence, MO
Vacancy
4.00%
Lease Rate
$18.00 /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%
$1,913,100
Cap Rate 7%
$1,366,500
Cap Rate 9%
$1,062,833
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.59M
NOI $95,655 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,601 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
260k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 34%
Groceries 22%
Home Improvements & Furnishings 7%
Hy-Vee
Groceries
56,459 visits/mo
0.1 miles
Dollar Tree
Shops & Services
53,819 visits/mo
0.3 miles
McDonald's
Dining
25,343 visits/mo
0.4 miles
Olive Garden
Dining
17,591 visits/mo
0.1 miles
Harbor Freight Tools
Home Improvements & Furnishings
15,961 visits/mo
0.3 miles
Demographics for 64055, MO
36,225
Population
16,900
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
93%
High-School Grad
12.5 sq mi
ZIP Area
2,898
Density / Sq Mi
$64,646
Median Household Income
$42,121
Median Earnings
$1,098
Median Rent
$173,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Dollar & plus — 4374 s noland rd, independence, mo 64055
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center property with established tenants and a regional customer draw.
Where is this shopping center located?
The property is located at 4600 S Noland Rd Independence, MO.
What is the asking price?
The asking price for this property is $1,772,953.
What are key features of this property?
This property features: 7,908‑square‑foot Building 4 within the center; 300,000‑square‑foot retail center; Intersection carries over 60,000 cars per day
