1401 Armour Rd Kansas City, MO 64116-3744

Property Details for 1401 Armour Rd

Year built

1960

Lot size

1.88 lot acres

Property type

Commercial real estate

APN

17-611-00-04-001-00

APU

17611000400100

Description

This exceptional investment opportunity presents a fee-simple ownership of a QuikTrip convenience store, gas station, and QSR in North Kansas City, MO. The property boasts a 5,366 square foot building on a 1.88-acre lot with 60 parking spaces and 16 gas pumps. Situated at a signalized intersection on Armour Road (approx. 33,600 vehicles per day) and near I-35 (approx. 1,080,000 vehicles per day), this location offers exceptional visibility and high traffic counts. The property features a 100% occupied, absolute NNN lease with QuikTrip Corporation, a national tenant with over 1,085 locations and over $11 billion in annual revenue. The lease, commencing May 31, 2020, and expiring May 30, 2035, has approximately 10.5 years remaining, with ten 5-year renewal options and rent bumps. The property's net operating income (NOI) is $395,868, resulting in a 5.50% cap rate. Built in 2019, this is a Generation 3 QuikTrip store format, featuring a larger kitchen and updated exterior. The corporate guarantee provides significant security, and the property's location within the Kansas City MSA offers strong market fundamentals. The asking price is $7,198,000. Potential for accelerated bonus depreciation is available (consult your CPA). APN: 17-611-00-04-001-00.