QuikTrip Gas & Convenience
For Sale
Contact for pricing
5108 Northeast Vivion Road, Kansas City, MO 64119
Single-tenant QuikTrip with a corporate guaranty and lease extension.
Property Size5,931 SF
Lot Size2.95 Acres
Price / SF$1,172
Days on Market89
Property Features for 5108 Northeast Vivion Road
General Information
Standard status
Active
Size
5,931 SF
Lot size
2.95 Acres
Property subtype
Retail
Lease Type
Absolute Net
Net Operating Income
$417,396
Building Details
Year Built
2014
Tenancy
Single
Listing Agency:
JLL - Kansas City/Overland Park, Kansas
(913) 469-4600
Listed By:
Jim Gates · License #MO 2001022708
Source:
Crexi
Added: May 15
Changed: Aug 8
Last Checked: Aug 8 at 7:18AM
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 JLL - Kansas City/Overland Park, Kansas
Investment Insights
Based on property information with market context.
This single-tenant QuikTrip gas and convenience store is located at 5108 NE Vivion Road, Kansas City, MO. The property benefits from a corporate guaranty from QuikTrip Corporation, a major convenience store operator with over 1,085 locations and $11+ billion in annual revenue. In June 2024, QuikTrip affirmed its commitment to the property by executing a new 10-year lease extension. The lease has over 8 years of lease term remaining, contractual rent escalations every five years, zero landlord expense responsibilities, and six, five-year renewal options. Originally purpose-built for the tenant in 1991, the property was fully upgraded in 2014 to QuikTrip's 'Generation 3' store design, featuring an enlarged store footprint, upgraded exterior façade, and enhanced full-service kitchen. Situated on a 2.95-acre site at a prominent signalized intersection directly off Interstate 35 (60,000 VPD), the property is located 8.5 miles northeast of downtown Kansas City. The surrounding area has a strong retail corridor with 2.9% vacancy and 22.0% rent growth since 2020. Within a 3-mile radius, there is 16.2M SF of retail space. The Anitoch Crossing Shopping Center, home to retailers such as Walmart, Burlington, Walgreens, Starbucks, and Verizon, is located less than 1-mile west of the asset. The property is located in an infill and fundamentally strong Kansas City market, offering secure, committed cash flow backed by a market leading tenant with brand name recognition. The property size is 5,931 square feet and the area has seen 10.9% population growth since 2014, with over 132,900 residents in a five-mile radius.
Key Highlights
- Corporate guaranty from QuikTrip Corporation, a major convenience store operator.
- New 10‑year lease extension executed in June 2024, providing over 8 years of remaining lease term.
- Zero landlord expense responsibilities, contractual rent escalations every five years.
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
$255,175
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
3.67%
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%
$5,103,500
$5.1M
Cap Rate 7%
$3,645,357
$3.6M
Cap Rate 9%
$2,835,278
$2.8M
Market Conditions
NOI Build-Up for 5,931 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
$385.8K $65.04/SF
− Vacancy
−$21.2K −$3.58/SF
EGI
$364.5K $61.46/SF
− OpEx
−$109.4K −$18.44/SF
NOI
$255.2K $43.02/SF
Area
ZIP 64119
Vacancy
5.50%
Lease Rate
$65.04 /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%
$5,103,500
Cap Rate 7%
$3,645,357
Cap Rate 9%
$2,835,278
Alternative Uses
Best Use
Industrial
$3.65M
$3.19M – $4.25M
NOI $255,175 @ 7.0% cap · market cap 3.67%
Second Best
Specialty Retail
$857.4K
$750.2K – $1.00M
NOI $60,018 @ 7.0% cap · market cap 0.86%
Theoretical Best
Warehouse
$4.43M
$3.87M – $5.16M
NOI $309,855 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
87k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 29%
Home Improvements & Furnishings 7%
QuikTrip
Shops & Services
42,478 visits/mo
0.0 miles
SONIC Drive In
Dining
15,673 visits/mo
0.1 miles
Dollar General
Shops & Services
6,411 visits/mo
0.2 miles
Church's Chicken
Dining
5,961 visits/mo
0.3 miles
Westlake Ace Hardware
Home Improvements & Furnishings
5,862 visits/mo
0.1 miles
Demographics for 64119, MO
30,865
Population
13,515
Households
2.3
Avg Household Size
39
Median Age
32%
College-Educated
94%
High-School Grad
14.5 sq mi
ZIP Area
2,129
Density / Sq Mi
$79,871
Median Household Income
$45,801
Median Earnings
$1,259
Median Rent
$216,300
Median Home Value
Market
Vacancy Rate% for Retail in Kansas City, MO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Single-tenant QuikTrip with a corporate guaranty and lease extension.
Where is this gas station located?
The property is located at 5108 Northeast Vivion Road Kansas City, MO.
What is the asking price?
The asking price for this property is $6,956,000.
What are key features of this property?
This property features: Corporate guaranty from QuikTrip Corporation, a major convenience store operator.; New 10‑year lease extension executed in June 2024, providing over 8 years of remaining lease term.; Zero landlord expense responsibilities, contractual rent escalations every five years.
