NNN Retail Center with Corner
For Sale
Contact for pricing
6403-6417 N Prospect Ave, Kansas City, MO 64119
100% occupied NNN retail center on a hard corner lot with multiple ingress/egress.
Property Size11,614 SF
Price / SF$234.20
Days on Market242
Property Features for 6403-6417 N Prospect Ave
General Information
Standard status
Active
Size
11,614 SF
Property subtype
RETAIL
Occupancy
100%
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
Cooper Commercial Investment Group
(216) 562-1981
Listed By:
Bob Havasi · License #SAL.2006007277
Source:
Moodyscre
Added: Dec 12, 2025
Changed: Aug 8
Last Checked: Aug 10 at 9:55AM
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 Cooper Commercial Investment Group
Investment Insights
Based on property information with market context.
This NNN retail center is 100% occupied and positioned on a hard corner lot with multiple points of ingress and egress. The center’s current tenant mix includes Athletico Physical Therapy, Regional Finance, Laura’s Paw Spa, and Hunan Garden Restaurant, with multiple recent renewals and a brand-new 10-year lease noted for Laura’s Paw Spa, plus over five years remaining for Hunan Garden Restaurant.
The property is shadowed by the North Kansas City School District, including the Early Education Center and the Professional Development Center, which supports regular weekly trainings for district educators. Public remarks also cite strong visibility and access supported by combined traffic counts totaling 30,000+ VPD.
Additional context provided in the offering includes approximately 165,000 people within a five-mile radius and average household incomes of $102k, along with proximity described as about 15 miles from Kansas City International Airport (opened February 2023).
The property is shadowed by the North Kansas City School District, including the Early Education Center and the Professional Development Center, which supports regular weekly trainings for district educators. Public remarks also cite strong visibility and access supported by combined traffic counts totaling 30,000+ VPD.
Additional context provided in the offering includes approximately 165,000 people within a five-mile radius and average household incomes of $102k, along with proximity described as about 15 miles from Kansas City International Airport (opened February 2023).
Key Highlights
- 100% occupied NNN retail center with service‑oriented tenants
- Hard corner lot with multiple points of ingress and egress; 30,000+ VPD combined traffic counts
- Tenant renewals include Athletico Physical Therapy (5‑yr renewal, 600+ locations) and Regional Finance (5‑yr renewal, 350+ locations)
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
$109,691
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
4.03%
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%
$2,193,820
$2.2M
Cap Rate 7%
$1,567,014
$1.6M
Cap Rate 9%
$1,218,789
$1.2M
Market Conditions
NOI Build-Up for 11,614 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
$163.1K $14.04/SF
− Vacancy
−$6.4K −$0.55/SF
EGI
$156.7K $13.49/SF
− OpEx
−$47.0K −$4.05/SF
NOI
$109.7K $9.44/SF
Area
ZIP 64119
Vacancy
3.90%
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%
$2,193,820
Cap Rate 7%
$1,567,014
Cap Rate 9%
$1,218,789
Alternative Uses
Best Use
Retail
$1.57M
$1.37M – $1.83M
NOI $109,691 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.67M
$7.58M – $10.11M
NOI $606,755 @ 7.0% cap · market cap 22.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - 100% occupied NNN retail center on a hard corner lot with multiple ingress/egress.
Where is this nnn property located?
The property is located at 6403-6417 N Prospect Ave Kansas City, MO.
What is the asking price?
The asking price for this property is $2,720,000.
What are key features of this property?
This property features: 100% occupied NNN retail center with service‑oriented tenants; Hard corner lot with multiple points of ingress and egress; 30,000+ VPD combined traffic counts; Tenant renewals include Athletico Physical Therapy (5‑yr renewal, 600+ locations) and Regional Finance (5‑yr renewal, 350+ locations)
