Three-Storefront Retail
For Sale
Contact for pricing
139 E Lexington Ave, Independence, MO 64050
Downtown commercial property with on-site parking and a detached garage.
Property Size3,000 SF
Price / SF$141.67
Days on Market10
Property Features for 139 E Lexington Ave
General Information
Standard status
Active
Size
3,000 SF
Property subtype
RETAIL
Amenities
parking
detached garage
Listing Agency:
SVN | Encompass Commercial LLC
(816) 436-4600
Listed By:
C. Sterling Scott, CCIM · License ##2021033673
Source:
Moodyscre
Added: Aug 11
Changed: Aug 13
Last Checked: Aug 19 at 9:46AM
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 SVN | Encompass Commercial LLC
Investment Insights
Based on property information with market context.
This 3,000-square-foot storefront property includes three separate storefronts, on-site parking, and a detached garage. The building previously operated as a bike shop and is situated in downtown Independence.
A new roof was installed in 2024. The property also includes a double lot, adding additional land to the commercial site.
A new roof was installed in 2024. The property also includes a double lot, adding additional land to the commercial site.
Key Highlights
- 3,000‑square‑foot storefront property with three storefronts
- Double lot with on‑site parking
- Detached garage included
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
$36,288
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
8.54%
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%
$725,760
$725.8K
Cap Rate 7%
$518,400
$518.4K
Cap Rate 9%
$403,200
$403.2K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$51.8K $17.28/SF
− OpEx
−$15.6K −$5.18/SF
NOI
$36.3K $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%
$725,760
Cap Rate 7%
$518,400
Cap Rate 9%
$403,200
Alternative Uses
Best Use
Retail
$518.4K
$453.6K – $604.8K
NOI $36,288 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$886.6K
$775.8K – $1.03M
NOI $62,064 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Shops & Services 48%
Church's Chicken
Dining
4,603 visits/mo
0.4 miles
Sinclair
Shops & Services
4,270 visits/mo
0.2 miles
Demographics for 64050, MO
22,223
Population
10,338
Households
2.1
Avg Household Size
39
Median Age
15%
College-Educated
87%
High-School Grad
12.9 sq mi
ZIP Area
1,723
Density / Sq Mi
$46,561
Median Household Income
$36,084
Median Earnings
$915
Median Rent
$137,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial property with on-site parking and a detached garage.
Where is this storefront property located?
The property is located at 139 E Lexington Ave Independence, MO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,000‑square‑foot storefront property with three storefronts; Double lot with on‑site parking; Detached garage included
