Lakewood Center Shopping
For Sale
Contact for pricing
801-815 NE Lakewood Boulevard, Lees Summit, MO 64064
Retail center serving a master-planned community with access to I-470.
Property Size11,518 SF
Price / SF$286.51
Days on Market58
Property Features for 801-815 NE Lakewood Boulevard
General Information
Standard status
Active
Size
11,518 SF
Total Parking Spaces
55
Property subtype
Retail
Zoning
Regional shopping center or mall with anchor store
Occupancy
100%
Lease Type
NNN
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Listing Agency:
Block & Company Inc
Listed By:
Bill Maas · License #MO2010028352
(816) 753-6000
Source:
Crexi
Added: Aug 8
Changed: Sep 24
Last Checked: Oct 2 at 9:22PM
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.
Lakewood Center is a shopping center comprising 11,518 square feet and constructed in 1985. The property is zoned for a regional shopping center or mall with an anchor store, supporting its established retail classification.
The center is located in Lee’s Summit, Missouri, within Lakewood, a master-planned residential community developed across approximately 2,200 acres. The surrounding community includes more than 2,300 residents, roughly 2,200 single-family homes, and 191 condominium or townhome units. Lakewood also includes two private lakes, recreational amenities, a country club, marinas, and on-site restaurants. The property has visibility and access to I-470, with a substantial residential base and community amenities in the immediate setting.
The center is located in Lee’s Summit, Missouri, within Lakewood, a master-planned residential community developed across approximately 2,200 acres. The surrounding community includes more than 2,300 residents, roughly 2,200 single-family homes, and 191 condominium or townhome units. Lakewood also includes two private lakes, recreational amenities, a country club, marinas, and on-site restaurants. The property has visibility and access to I-470, with a substantial residential base and community amenities in the immediate setting.
Key Highlights
- 11,518‑square‑foot shopping center built in 1985
- Zoned for a regional shopping center or mall with anchor store
- Located within Lakewood, a 2,200‑acre master‑planned residential community
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
$163,776
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
4.96%
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%
$3,275,520
$3.3M
Cap Rate 7%
$2,339,657
$2.3M
Cap Rate 9%
$1,819,733
$1.8M
Market Conditions
NOI Build-Up for 11,518 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
$255.7K $22.20/SF
− Vacancy
−$21.7K −$1.89/SF
EGI
$234.0K $20.31/SF
− OpEx
−$70.2K −$6.09/SF
NOI
$163.8K $14.22/SF
Area
Lees Summit, MO
Vacancy
8.50%
Lease Rate
$22.20 /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%
$3,275,520
Cap Rate 7%
$2,339,657
Cap Rate 9%
$1,819,733
Alternative Uses
Best Use
Retail
$2.34M
$2.05M – $2.73M
NOI $163,776 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.92M
$2.56M – $3.41M
NOI $204,629 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Hotels & Casinos 15%
Dining 15%
Phillips 66
Shops & Services
6,943 visits/mo
0.3 miles
Minit Mart
Shops & Services
5,245 visits/mo
0.3 miles
Best Western Plus Lee's Summit Hotel & Suites
Hotels & Casinos
2,679 visits/mo
0.4 miles
Goodcents Deli Fresh Subs
Dining
2,529 visits/mo
0.1 miles
Demographics for 64064, MO
19,717
Population
7,870
Households
2.5
Avg Household Size
41
Median Age
53%
College-Educated
98%
High-School Grad
19.0 sq mi
ZIP Area
1,038
Density / Sq Mi
$120,341
Median Household Income
$62,190
Median Earnings
$1,416
Median Rent
$375,800
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
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 - Retail center serving a master-planned community with access to I-470.
Where is this shopping center located?
The property is located at 801-815 NE Lakewood Boulevard Lees Summit, MO.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 11,518‑square‑foot shopping center built in 1985; Zoned for a regional shopping center or mall with anchor store; Located within Lakewood, a 2,200‑acre master‑planned residential community
