18801 39Th StIndependence, MO 64057

Property Details for 18801 39Th St

Year built

1974

Lot size

29.59 AC

Property size (Sq ft)

710,912 SF

Property type

Community centers

APN

34-200-04-32

APU

342000432

Description

This exceptional 952,953 square foot shopping center, located at 18801 East 39th St S in Independence, Missouri (zip code 64057), presents a unique investment opportunity. Built in 1974, the property currently boasts 87% occupancy across its 92 tenants. The center is undergoing a significant transformation into a vibrant mixed-use development, strategically integrating residential, commercial, and recreational elements. This redevelopment plan promises to revitalize the area, creating a dynamic community hub where residents and visitors can live, work, and play. The property's prime location in Jackson County, Missouri, offers excellent accessibility and visibility. This NNN-leased, multi-tenant property represents a compelling investment in a rapidly evolving market, poised for substantial future growth and increased value. The current retail focus is being expanded to include residential units and office spaces, creating a diverse and attractive environment. This forward-thinking approach anticipates and caters to modern urban lifestyle preferences, ensuring long-term viability and appeal. The property's size and existing tenant base provide a solid foundation for this exciting transformation. This is a rare opportunity to acquire a large-scale retail property undergoing a comprehensive and innovative redevelopment.

• CAP approach

  CAP return

  Valuation

  6%

  $195,890,736

  6.5%

  $180,822,224

  7%

  $167,906,352

• Comparable approach

  Method

  Valuation

  Relative Method

  $128,145,872

  Geo Method

  $128,145,872

• Alternative Use

  Use

  Valuation

  Residential

  $152,530,304

  Hospitality

  $139,716,944

  Educational

  $116,242,856

  Medical

  $120,240,624

  Retail

  $180,822,224

Location Insight

City

Independence

County

Jackson

State

Missouri

Latitude

39.0456

Longitude

-94.3577

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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