Restaurant with Full Bar
For Sale
Contact for pricing
Pending
1523 W 89th St, Kansas City, MO 64114
Absolute net lease with 4+ years remaining, featuring an on-site full bar and a recently installed gaming system.
Property Size25,433 SF
Days on Market331
Property Features for 1523 W 89th St
General Information
Standard status
Pending
Size
25,433 SF
Property subtype
RETAIL
Site & Location
Neighborhood
Western Hills
Listing Agency:
CP Partners
(415) 274-2700
Listed By:
John Andreini · License #01440360
(415) 274-2715
Source:
Moodyscre
Added: Dec 1, 2025
Changed: Oct 25
Last Checked: Oct 26 at 6:44PM
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 CP Partners
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale retail asset is operated as a restaurant with an on-site full bar. The lease is structured as an absolute net lease with 4+ years remaining on the base term. Base rent includes 2.5% annual rental increases, which increase to 3% during the option period. The tenant holds a 1am liquor license and has recently installed a new modern scoring and gaming system.
The property is located at 1523 W 89th St in Kansas City, Missouri, and is adjacent to Ward Parkway Center. Placer.ai data cited in the listing indicates Ward Parkway Center ranks in the top 2% of shopping centers in Missouri by annual visits.
The listing also notes strong unit-level performance and below-market rent of $8.78/SF, and references affluent residential demographics within a 1-mile radius.
The property is located at 1523 W 89th St in Kansas City, Missouri, and is adjacent to Ward Parkway Center. Placer.ai data cited in the listing indicates Ward Parkway Center ranks in the top 2% of shopping centers in Missouri by annual visits.
The listing also notes strong unit-level performance and below-market rent of $8.78/SF, and references affluent residential demographics within a 1-mile radius.
Key Highlights
- Absolute net lease with 4+ years remaining
- 2.5% annual rental increases during the base term, increasing to 3% during the option period
- Tenant operates a full bar on site with a 1am liquor license
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$295,300
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,906,000
$5.9M
Cap Rate 7%
$4,218,571
$4.2M
Cap Rate 9%
$3,281,111
$3.3M
Market Conditions
NOI Build-Up for 25,433 SF
Gross rent
$405.9K $15.96/SF
− Vacancy
−$12.2K −$0.48/SF
EGI
$393.7K $15.48/SF
− OpEx
−$98.4K −$3.87/SF
NOI
$295.3K $11.61/SF
Area
Kansas City, MO
Vacancy
3.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,906,000
Cap Rate 7%
$4,218,571
Cap Rate 9%
$3,281,111
Alternative Uses
Best Use
Specialty Retail
$4.22M
$3.69M – $4.92M
NOI $295,300 @ 7.0% cap · market cap 8.36%
Second Best
Retail
$3.42M
$2.99M – $3.99M
NOI $239,207 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$6.06M
$5.30M – $7.07M
NOI $424,052 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
234k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 49%
Dining 38%
Shops & Services 9%
Electronics 2%
Target
Superstores
113,703 visits/mo
0.3 miles
Chick-fil-A
Dining
56,652 visits/mo
0.4 miles
Starbucks
Dining
17,024 visits/mo
0.2 miles
Firehouse Subs
Dining
12,213 visits/mo
0.3 miles
Five Below
Shops & Services
9,578 visits/mo
0.3 miles
Demographics for 64114, MO
24,008
Population
13,463
Households
1.8
Avg Household Size
39
Median Age
56%
College-Educated
97%
High-School Grad
7.1 sq mi
ZIP Area
3,381
Density / Sq Mi
$77,643
Median Household Income
$53,965
Median Earnings
$1,304
Median Rent
$257,400
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 Kansas City, MO
Frequently Asked Questions
What type of property is this?
Retail space - Absolute net lease with 4+ years remaining, featuring an on-site full bar and a recently installed gaming system.
Where is this retail space located?
The property is located at 1523 W 89th St Kansas City, MO.
What is the asking price?
The asking price for this property is $3,531,000.
What are key features of this property?
This property features: Absolute net lease with 4+ years remaining; 2.5% annual rental increases during the base term, increasing to 3% during the option period; Tenant operates a full bar on site with a 1am liquor license
