8501 Madison AveKansas City, MO 64155

Property Details for 8501 Madison Ave

Year built

2024

Lot size

1.29 AC

Property size (Sq ft)

10,542 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,542-square-foot pOpshelf store in Kansas City, Missouri. Located within the high-performing Barry Towne Shopping Center, anchored by Target and Kohl's, this property boasts a 15.1-year absolute NNN lease commencing August 15, 2024, and expiring August 31, 2039. The lease includes built-in rent bumps of 5% every five years during the primary term, followed by four five-year renewal options with a 10% increase at each option. The tenant, pOpshelf (a Dollar General concept), is backed by a corporate guarantee from Dollar General Corporation, holding a "BBB" investment-grade credit rating. The property sits on a 1.29-acre lot with 53 parking spaces and enjoys excellent visibility due to its strategic location off Highway 169 (34,661 vehicles per day) and NW Barry Road (16,476 vehicles per day). The surrounding area demonstrates strong demographics, with a one-mile average household income of $79,698 and a five-mile population of 164,089. The property's location benefits from proximity to the Metro North Mall Redevelopment and the future Twin Creeks Development, promising significant future growth. The asking price of $3,274,914 reflects a 6.50% cap rate based on a net operating income (NOI) of $212,869. This property is zoned for commercial use and was built in 2024. This presents an ideal opportunity for a 1031 exchange or passive investor seeking a secure, high-return investment.

Location Insight

City

Kansas City

County

Clay

State

Missouri

Latitude

39.2489

Longitude

-94.5923

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