Lee's Summit Restaurant
For Sale
Contact for pricing
710 SE Melody Ln, Lees Summit, MO 64063
Freestanding restaurant in Lee's Summit with established tenant.
Property Size4,560 SF
Price / SF$438.60
Days on Market161
Property Features for 710 SE Melody Ln
General Information
Standard status
Active
Size
4,560 SF
Total Parking Spaces
73
Property subtype
Retail
Occupancy
100%
Net Operating Income
$144,000
Listing Agency:
Crossroads Real Estate Group
(816) 298-9998
Listed By:
Gordon Smith · License #MO 2021017647
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 9 at 5:49AM
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 Crossroads Real Estate Group
Investment Insights
Based on property information with market context.
The property at 710 SW Melody Lane in Lee's Summit, Missouri, presents a retail investment opportunity. It features a freestanding restaurant building occupied by Don Chuy’s Fresh Mex & Cantina, a family-owned concept with a regional presence. The asset offers stable cash flow supported by an operating restaurant tenant with community recognition and consistent customer traffic. Lee’s Summit's location within the Kansas City metropolitan area provides access to major regional employment and retail centers. Residents benefit from a strong local economy, schools, and quality of life supported by healthcare, cultural, and recreational amenities. Located in Jackson County, Lee’s Summit has emerged as one of the most desirable and fastest-growing suburban communities in the Kansas City region. The property is suitable for conventional restaurants, storefront properties, and retail spaces. The building has a size of 4,560 square feet.
Key Highlights
- Stable cash flow from operating restaurant tenant, Don Chuy’s Fresh Mex & Cantina.
- Tenant is a successful, family‑owned restaurant with an established regional presence.
- Freestanding restaurant building, a desirable retail asset.
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
$81,013
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
4.05%
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%
$1,620,260
$1.6M
Cap Rate 7%
$1,157,329
$1.2M
Cap Rate 9%
$900,144
$900.1K
Market Conditions
NOI Build-Up for 4,560 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
$114.9K $25.20/SF
− Vacancy
−$6.9K −$1.51/SF
EGI
$108.0K $23.69/SF
− OpEx
−$27.0K −$5.92/SF
NOI
$81.0K $17.77/SF
Area
Lees Summit, MO
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,620,260
Cap Rate 7%
$1,157,329
Cap Rate 9%
$900,144
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,013 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
176k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 26%
Groceries 14%
Hotels & Casinos 1%
QuikTrip
Shops & Services
55,665 visits/mo
0.2 miles
Dollar Tree
Shops & Services
25,118 visits/mo
0.1 miles
Aldi
Groceries
25,021 visits/mo
0.4 miles
Goodcents Deli Fresh Subs
Dining
9,220 visits/mo
0.1 miles
Perkins Restaurant & Bakery
Dining
7,761 visits/mo
0.4 miles
Demographics for 64063, MO
20,965
Population
9,104
Households
2.3
Avg Household Size
36
Median Age
34%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
3,437
Density / Sq Mi
$77,966
Median Household Income
$47,877
Median Earnings
$1,151
Median Rent
$242,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant in Lee's Summit with established tenant.
Where is this conventional restaurant located?
The property is located at 710 SE Melody Ln Lees Summit, MO.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Stable cash flow from operating restaurant tenant, Don Chuy’s Fresh Mex & Cantina.; Tenant is a successful, family‑owned restaurant with an established regional presence.; Freestanding restaurant building, a desirable retail asset.
