Retail Investment
For Sale
Contact for pricing
420 SW Longview Blvd, Lees Summit, MO
Retail property with two tenants and long-term leases.
Property Size4,925 SF
Lot Size0.16 Acres
Price / SF$370.56
Days on Market511
Property Features for 420 SW Longview Blvd
General Information
Standard status
Active
Size
4,925 SF
Lot size
0.16 Acres
Property subtype
RETAIL
Listing Agency:
NAI Heartland | Kansas City
(913) 890-2015
Listed By:
Russell Pearson · License #00230067
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Aug 8
Last Checked: Aug 10 at 6:00AM
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 NAI Heartland | Kansas City
Investment Insights
Based on property information with market context.
This retail property features two first-generation tenants with 10-year leases, of which approximately 9 to 10 years remain. The property generates a net operating income (NOI) of $125,052 and has a cap rate of 6.85%. The leases include annual rent increases of 2.5%. On-site management is provided.
Key Highlights
- Two 1st‑Gen 10‑Year Leases (9‑10 Years Remaining)
- Enjoy a solid investment with $125,052 NOI
- 6.85% Cap Rate
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
$70,029
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
3.84%
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%
$1,400,580
$1.4M
Cap Rate 7%
$1,000,414
$1.0M
Cap Rate 9%
$778,100
$778.1K
Market Conditions
NOI Build-Up for 4,925 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
$109.3K $22.20/SF
− Vacancy
−$9.3K −$1.89/SF
EGI
$100.0K $20.31/SF
− OpEx
−$30.0K −$6.09/SF
NOI
$70.0K $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%
$1,400,580
Cap Rate 7%
$1,000,414
Cap Rate 9%
$778,100
Alternative Uses
Best Use
Retail
$1.00M
$875.4K – $1.17M
NOI $70,029 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.46M
NOI $87,498 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 47%
Phillips 66
Shops & Services
25,742 visits/mo
0.1 miles
McDonald's
Dining
22,573 visits/mo
0.1 miles
Taco Bell
Dining
5,450 visits/mo
0.1 miles
SUBWAY
Dining
1,955 visits/mo
0.1 miles
Good Vets
Shops & Services
653 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - Retail property with two tenants and long-term leases.
Where is this strip mall located?
The property is located at 420 SW Longview Blvd Lees Summit, MO.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Two 1st‑Gen 10‑Year Leases (9‑10 Years Remaining); Enjoy a solid investment with $125,052 NOI; 6.85% Cap Rate
