1348 Noland Rd Independence, MO 64055-1328

Property Details for 1348 Noland Rd

Year built

1984

Construction

WOOD

Lot size

0.60 lot acres

Property size

1,852 SF

Property type

Turn key restaurants

APN

26-530-15-30

APU

265301530

Description

This exceptional investment opportunity presents a 3,281 square foot, single-tenant, absolute triple-net (NNN) leased property located at 1348 S Noland Rd, Independence, MO 64055. The property, built in 1984 and renovated in 2023, sits on a 0.61-acre lot and boasts a thriving Abelardo's Mexican Fresh restaurant, a growing brand with over 60 locations. The current lease, commencing November 1, 2023, and expiring October 31, 2038, offers a substantial 14-year remaining term with two five-year renewal options. The tenant, backed by a corporate guarantee, enjoys 100% occupancy, generating a strong net operating income (NOI) of $90,000 and a compelling 7.15% cap rate. The lease includes 10% rent bumps every five years, ensuring consistent income growth. Key property features include a drive-thru, patio, ample parking, and a pylon sign. The property benefits from a high-traffic location in a strong retail corridor, adjacent to established national brands like KFC, McDonald's, QuikTrip, and Taco Bell, with over 22,000 vehicles passing daily. This is a truly passive investment opportunity with zero landlord responsibilities, offering significant long-term returns. The asking price is $1,258,741. The property is classified as Class B retail, with a single story building.