Current Use by Public Records
- Retail properties & Spaces
Property Details for 409 North Ave
- Year built
- 1998
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a CVS Pharmacy located at 409 E North Ave, Belton, MO 64012. The property boasts 10,908 square feet and sits on a hard corner with a combined traffic count of 32,900 vehicles per day, ensuring high visibility and accessibility. The property is currently under an absolute NNN lease with a corporate guarantee from CVS Pharmacy, eliminating landlord responsibilities. The lease commenced on July 29, 1998, and has a remaining term of approximately 4.7 years, expiring July 29, 2029. The lease includes 10% rent increases at each option period, providing significant future income growth. The property's strong performance is evidenced by reported sales of $15.4 million. The asking price is $5,447,500, representing a price per square foot of $499.40 and a cap rate of 6.75%. The Net Operating Income (NOI) is $367,702. The property was built in 1998 and benefits from its location in a strong retail corridor, with nearby retailers including Home Depot, Walmart, Target, ALDI, and Cass Regional Medical Center (just over a mile away). Belton's strategic location south of Kansas City, easily accessible via I-49, further enhances the property's value and appeal. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Belton
- County
- Cass
- State
- Missouri
- Longitude
- -94.5264
- Latitude
- 38.8135
