4420 Noland Rd Ste A Independence, MO 64055-4888

Property Details for 4420 Noland Rd Ste A

Year built

1977

Construction

WOOD

Lot size

2.89 lot acres

Property size

35,528 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

33-520-10-63-02

APU

33520106302

Description

This exceptional investment opportunity presents the Noland South Shopping Center, a 156,387 square foot retail center located in Independence, Missouri. The property boasts a diverse tenant mix including Harbor Freight, Arvest Bank, OctaPharma Plasma, Baskin Robbins, and Honey Baked Ham, among 20 total tenants. Currently operating at 82.82% occupancy, the center generates a substantial Net Operating Income (NOI) of $539,667.92, yielding an attractive 8.00% cap rate. The asking price is $6,716,746, translating to $42.95 per square foot. Built in 1980 and renovated in 2023, the property sits on a sizable 21.83-acre lot, offering a land value of $7.06 per square foot. The center benefits from approximately $147,000 in annual Community Improvement District (CID) funding allocated for capital expenditures, totaling up to $2,581,835 over 27 years. This consistent funding stream ensures ongoing maintenance and improvements, enhancing the property's long-term value. The property's location and size present significant value-add potential, particularly considering the mixed-use potential with ample developable land at the southwestern corner of the shopping center and on the south side of 45th Street. This presents a versatile and attractive investment opportunity for discerning buyers. The property consists of five parcels, all located in Jackson County, Missouri, zip code 64055, along South Noland Road.

Location Insight

City

Independence

County

Jackson

State

Missouri

Longitude

-94.4184

Latitude

39.0405

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments