Fully Leased Retail
For Sale
Contact for pricing
4540 S Noland Rd, Independence, MO 64055
This fully leased retail storefront is positioned alongside major grocery retailers for strong everyday visibility.
Property Size4,290 SF
Price / SF$161.74
Days on Market268
Property Features for 4540 S Noland Rd
General Information
Standard status
Active
Size
4,290 SF
Property subtype
RETAIL
Occupancy
100%
Listing Agency:
Block & Company, Inc.
(816) 753-6000
Listed By:
Dakota Grizzle · License #2016044160
(816) 412-7395
Source:
Moodyscre
Added: Dec 19, 2025
Changed: Aug 13
Last Checked: Sep 13 at 8:05AM
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.
This fully leased retail storefront is situated within a shadow center format next to a New Price Chopper and offers strong visibility for a daily shopping environment. The space is part of a retail concentration at a busy intersection in Independence, MO.
The property is located across from Hy-Vee Grocery Store and is surrounded by more than 700,000 square feet of retail at the intersection. Public remarks also reference great visibility and high traffic counts, supporting the center’s consumer draw for retail tenants and investors.
The property is located across from Hy-Vee Grocery Store and is surrounded by more than 700,000 square feet of retail at the intersection. Public remarks also reference great visibility and high traffic counts, supporting the center’s consumer draw for retail tenants and investors.
Key Highlights
- Fully leased retail storefront
- Located across from Hy‑Vee Grocery Store
- Shadow center to a New Price Chopper next door
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
$51,892
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
7.48%
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%
$1,037,840
$1.0M
Cap Rate 7%
$741,314
$741.3K
Cap Rate 9%
$576,578
$576.6K
Market Conditions
NOI Build-Up for 4,290 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
$77.2K $18.00/SF
− Vacancy
−$3.1K −$0.72/SF
EGI
$74.1K $17.28/SF
− OpEx
−$22.2K −$5.18/SF
NOI
$51.9K $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%
$1,037,840
Cap Rate 7%
$741,314
Cap Rate 9%
$576,578
Alternative Uses
Best Use
Retail
$741.3K
$648.7K – $864.9K
NOI $51,892 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,752 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
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
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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Similar Off Market Nearby
- Blue Vue Flowers — 12820 East 47th St S A, Independence, MO 64055
Frequently Asked Questions
What type of property is this?
Storefront property - This fully leased retail storefront is positioned alongside major grocery retailers for strong everyday visibility.
Where is this storefront property located?
The property is located at 4540 S Noland Rd Independence, MO.
What is the asking price?
The asking price for this property is $693,875.
What are key features of this property?
This property features: Fully leased retail storefront; Located across from Hy‑Vee Grocery Store; Shadow center to a New Price Chopper next door
