Local Shopping Center For
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5900 Wilson Dr, Kansas City, MO
29,440 SF shopping center with national and local tenants.
Property Size29,440 SF
Lot Size3.36 Acres
Price / SF$132.47
Days on Market597
Property Features for 5900 Wilson Dr
General Information
Standard status
Active
Size
29,440 SF
Lot size
3.36 Acres
Property subtype
RETAIL
Listing Agency:
Reece Commercial Real Estate | Leawood
Listed By:
John Sweeney · License #SP00233396
(913) 652-4300
Source:
Moodyscre
Added: Jan 24, 2025
Changed: Aug 12
Last Checked: Sep 12 at 11:12AM
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 Reece Commercial Real Estate | Leawood
Investment Insights
Based on property information with market context.
This 29,440 square foot local shopping center features a mix of national and local tenants. National brands such as Family Dollar, Rent-A-Center, Cricket Wireless, and Pizza Hut anchor the center. Four smaller, locally-owned businesses add a community-focused character. The shopping center is located directly to the west of the North-East Branch of the Kansas City Public Library and adjacent to a Price Chopper grocery store. Positioned along Independence Avenue, just south of the Historic Indian Mound Neighborhood, the center has visibility and accessibility. The center benefits from traffic and supports a residential and commercial area. There is virtually no competition in any direction.
Key Highlights
- High foot traffic and visibility thanks to a strong tenant mix including national brands.
- Strategic location on Independence Avenue with virtually no competition.
- Adjacent to the highly frequented Price Chopper grocery store and near the Kansas City Public Library.
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
$276,895
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
7.10%
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%
$5,537,900
$5.5M
Cap Rate 7%
$3,955,643
$4.0M
Cap Rate 9%
$3,076,611
$3.1M
Market Conditions
NOI Build-Up for 29,440 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
$413.3K $14.04/SF
− Vacancy
−$17.8K −$0.60/SF
EGI
$395.6K $13.44/SF
− OpEx
−$118.7K −$4.03/SF
NOI
$276.9K $9.41/SF
Area
Kansas City, MO
Vacancy
4.30%
Lease Rate
$14.04 /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%
$5,537,900
Cap Rate 7%
$3,955,643
Cap Rate 9%
$3,076,611
Alternative Uses
Best Use
Retail
$3.96M
$3.46M – $4.61M
NOI $276,895 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.01M
$6.14M – $8.18M
NOI $490,861 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Kansas City, MO
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - 29,440 SF shopping center with national and local tenants.
Where is this shopping center located?
The property is located at 5900 Wilson Dr Kansas City, MO.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: High foot traffic and visibility thanks to a strong tenant mix including national brands.; Strategic location on Independence Avenue with virtually no competition.; Adjacent to the highly frequented Price Chopper grocery store and near the Kansas City Public Library.
